HomeMy WebLinkAbout2005 Resolutions (2)RESOLUTION NO.1
SERIES OF 2005
A RESOLUTION DESIGNATING A PUBLIC PLACE WITHIN THE TOWN OF VAIL
FOR THE POSTING OF NOTICE FOR PUBLIC MEETINGS OF THE VAIL TOWN
COUNCIL, PLANNING AND ENVIRONMENTAL COMMISSION, DESIGN REVIEW
BOARD, AND OTHER BOARDS, COMMISSIONS, AND AUTHORITIES OF THE
TOWN OF VAIL.
WHEREAS, Section 24-6-402(2)(c), C.R.S., as amended provides that local public
bodies must give full and timely notice to the public of any meetings at which the adoption of
any proposed policy, position, resolution, rule, regulation, or formal action occurs at which a
majority or quorum of the body is in attendance, or is expected to be in attendance; and
WHEREAS, the Town of Vail now wishes to designate a public place within its
boundaries for the posting of such full and timely notice to the public for meetings of the Town
`~ Council, the Planning and Environmental Commission, the Design Review Boazd, and other
boards, committees, and authorities of the Town.
NOW, THEREFORE, be it resolved by the Town Council of the Town of Vail, Colorado:
1. The Town Council hereby designates the bulletin boazds at the east and west
entrances of the Town of Vail Municipal Offices as the public places for the posting of full and
timely notice as required by Colorado law.
2. This resolution shall take effect immediately upon its passage.
INTRODUCED, READ, APPROVED AND ADOPTED this 4th day of January, 2005.
l~odney E. Slifer, Mayor
ATTEST:
elei Donaldson, Town Clerk ' ~'~
SEAL
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RESOLUTION NO. #2
Series of 2005
A RESOLUTION TO DESIGNATE THE NATIONAL INCIDENT MANAGEMENT
SYSTEM (NIMS) AS THE BASIS FOR ALL INCIDENT MANAGEMENT IN THE TOWN
OF VAIL.
WHEREAS, The Federal Department of Homeland Security has
mandated that local agencies adopt NIMS and the ICS
systems for critical incident management, if they desire to
receive grant funds from the department.
WHEREAS, The Town of Vail already uses the ICS system to manage
small to large scale incidents. The additional requirements of
the NIMS system for the Town of Vail are very limited over
and above the ICS requirements.
WHEREAS, Approval of this resolution will makes the Town of Vail
eligible to receive grant funding from the Department of
Homeland Security and the State of Colorado Division of
Emergency Management.
INTRODUCED, READ, APPROVED AND ADOPTED this 19th day of April, 2005.
Rodney Slifer, ''
Mayor, Town of Vail
ATTEST:
~elei monaldson,
Town Clerk, Town of Vail
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RESOLUTION NO. #3
Series of 2005
A RESOLUTION EXPRESSING VIGOROUS OPPOSITION TO SB62 AND OGRES SENATOR
JACK TAYLOR TO IMMEDIATELY WITHDRAW THIS DISCRIMINATORY, DANGEROUS
AND COMPLETELY UNWARRANTED LEGISLATION.
Whereas, Recreational In-Channel Diversion (RICD) water rights are provided for in
Colorado law and are widely accepted as a beneficial non-consumptive water
use of growing importance to Colorado's critical tourism and recreation
industries; and
Whereas, RICD's represent a new, clean use of water that generates important revenue
without consuming a single drop of water; and
Whereas, SB 62, if passed, would constitute a direct attack on the State's recreation and
tourism based industries and relegate recreational water uses to second-class
status by effectively eliminating future and existing RICD's; and
Whereas, SB 62 has been introduced by State Senator Jack Taylor, who represents many
tourism and recreation dependent municipalities and who has otherwise been a
champion of Colorado's vital tourism industry;
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE
TOWN OF VAIL, vigorous opposition be pledged to SB62 and request of Senator
Jack Taylor to immediately withdraw this discriminatory, dangerous and
completely unwarranted legislation.
INTRODUCED, READ, APPROVED AND ADOPTED this 15th day of
February, 2005. ), D
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Rodney Slifer,
Mayor, Town of Vail
ATTEST:
^ ~J ~N ~ ~' VA~I
ore i Donaldson, ~~A~-' .~
Town Clerk, Town of Vail
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• ROTARY INTERNATIONAL'S
100TH ANNIVERSARY FEBRUARY 23, 2005
Recognizing the Rotary Clubs of Colorado and recognizing the thousands of Rotarians
in every State in the Nation and throughout the world and honoring them for their many
contributions to this Nation and the world throughout is history.
RESOLUTION No. #4, SERIES OF 2005
Recognizing Rotary Intemational s the premier service Club in the world,
Recognizing the over 400,000 Rotarians in the United States and the over 1.2 million
Rotarians in the over 32,000 clubs in 166 nations throughout the world and honoring
them for their many often unparalleled contribution to the Nation and the world,
Recognizing the Rotary Districts 5440. 5450 and 5470 in Colorado and the many clubs
and dedicated Rotarians in our state,
Recognizing that Rotary International has created an unprecedented and unique force in
pursuit of world peace through use of acquaintance as an opportunity to serve all human
kind,
• Recognizing Rotarians as the voice of civil society and embodiment of o leadership
world wide promoting peace, goodwill, understanding and prosperity for all people of all
races, creeds, ethnic backgrounds and national origin's,
Recognizing Rotarians as daily providing thousand so f tangible demonstrates of the
power of their ideal and motto °Service Above Self" to create a better world for all.
Whereas Rotarians, who today celebrate the hundredth anniversary of the founding of
Rotarians Chicago, Illinois, on 23 February 1905.
Whereas Rotarians now have set an example of a full century of service to their
communities;
Whereas Rotarians organize and catalyze efforts of leaders, institutions, charitable
foundations, individual and government around the world, convening the people of the
world to pursue elimination of diseases, health, potable water and education for all;
Where as Rotarians, through the Rotary Foundation have provided unparalleled and
unprecedented good works for the betterment of humankind:
Where as Rotary International provided the political willpower essential to the eradication
of the Polio in the world:
Whereas Rotarians have provided vaccines for immunizing over two billion children in
the world:
• Whereas Rotarians have donated over $600,000,000 to the cause of the eradication of
polio;
Whereas thousand s of Rotarians have volunteered their time and resources Burin
9
National Immunization Days:
Whereas Rotarians in pursuit of service of service to the children of the world have
accomplished the impossible including stopping wars, repeatedly, for purposes of
immunizing children:
Whereas Rotary volunteers developed the extraordinarily successful and effective 3Step
Model consisting of:
1. Mass Social Mobilization,
2. Logistics and
3. Surveillance;
Whereas, following swiftly in the steps of Polio eradication, the ,The Rotary Model is
now responsible for saving over a million lives from the dreaded disease of Measles,
speeding Measles along the path of eradication far faster than anyone imagined:
Whereas, further, that The Rotary Model is being applied to saving the lives of million
more children in the coming years, soon to surpass the level of saving one million lives
every year, from now on:
Whereas, in addition, rotary Clubs annually provide tens of million of dollars of local and
global humanitarian support, including cumulatively:
• - Over $69 Million for Health Hunger and Humanitarian Grants,
- Over $10 Million of Rotary Volunteer and
- Over $100 Million for over 16,000 Matching Grants, all creating a better world to
live in for us all;
Whereas Rotarians annually multiply the value.of the financial contributions many time
further through the personal contributions of countless volunteer hours deliver invaluable
skills and connection in the service of their community;
Whereas Rotary Clubs collectively are the largest private provider of scholarships in the
history of the world, annually providing scholarships to ten so of thousands of students;
Whereas Rotary International has sent over 200,000 students on Youth Exchange
programs that foster understanding of people throughout the world and furthermore, has
been shown to create leaders of the highest caliber, who go on to serve society in every
way;
Whereas Rotary International has provide $80 Million to promote Group Study
Exchanges of over 42,000 young adults for extended visits to other countries and to the
United States where they learn, teach and create deep relationships, understand and
appreciation for different culture;
Whereas rotary continues to expand its many scholarships and exchange programs
befitting the cities of the United States and the world;
•
• Whereas the object of Rotary is to encourage and foster the ideal of service as a basis
of worthy enterprise and, in particular, to encourage and foster:
First. The development of acquaintance as an opportunity for service;
Second. High ethical standards in business and professions, the recognition of
the worthiness of all use full occupations, and dignifying of each Rotarian's
occupation as an opportunity to serve society;
Third. The application of the ideal of service in each Rotarian's personal,
business and community life;
Fourth. The advancement of international understanding, goodwill, and peace
through a world of fellowship of business and professional persons united in the
ideal of service.
Whereas Rotarians value the contribution of, and honor people of all professions;
Whereas member of Rotary, both individually and as an organization, continue to make
invaluable charitable contribution and service to world health;
Whereas Rotarians as pioneered the idea of "Think Global, Act Local", for Rotary is
Local Everywhere in the world:
Whereas Rotary daily demonstrates how to create a better world and deeper
• understanding of peoples of all origin through the innumerable international
scholarships, partnerships, and project they pursue;
Where as Rotary International, The Rotary Foundation and Rotarians of the world daily
demonstrate the power of the people to envision a between world and cooperate to
create that better world, to the benefit of all humankind;
Whereas rotary International, The Rotary foundation and Rotarians of the world agree an
unprecedented, unparalleled and incomparable force for good in the history of the world;
Whereas Rotarians provide the United States of America and all countries of the world
and their peoples a practical, living demonstration of how people look and act while
creating health, good will, prosperity, and world peace;
Whereas Rotary International, the Rotary foundation and Rotarians of the world embody
and personally demonstrate a glowing vision of what.is possible in the future and who
show us all the way to that future;
Now, therefore, with thanks and gratitude, the town hereby
Resolves, the Town of Vail recognizes Rotary
International and the Rotarians of Colorado and of the
world and in every State in our Nation and honor them for
their many contributions to the Nation and World
• throughout Rotary's first century of history, wishing Rotary
and Rotary International the Rotary Foundation even
greater success in its second century f Service Above Self.
. +.
•
•
INTRODUCED, READ, APPROVED AND ADOPTED this 15th day of February, 2005.
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Rodney Slifer, (/
Mayor, Town of Vail
ATTEST: "'~"
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elei onaldson,
own lark, Town of Vail
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RESOLUTION NO. S
Series of 2005
A RESOLUTION DESIGNATING THE FOLLOWING AS SIGNERS:
STAN ZEMLER, PAMELA A. BRANDMEYER, AND 3UDY G. CAMP ON THE
INVESTMENT ACCOUNT HELD AT CHARLES SCHWAB AS PERMITi i i ~D BY
THE CHARTER OF THE TOWN, ITS ORDINANCES, AND THE STATUES OF THE
STATE OF COLORADO.
WHEREAS, the Town has the power to designate banks or financial institutions
for funds of the Town; and
WHEREAS, the Town wishes to designate Stan Zemler, Pamela A. Brandmeyer,
and Judy G. Camp as signers on this account.
NOW, THEREFORE, BE IT RESOLVED by the Town Council of the Town of
Vail, Colorado, as follows:
1. Stan Zemler, Pamela A. Brandmeyer, and Judy G. Camp are hereby
designated as signers for the Account for the funds of the Town of Vail.
2. This Resolution shall take effect immediately upon its passage.
INTRODUCED, READ, APPROVED AND ADOPTED this 5~' day of April, 2005.
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Rodney E. ~lifer,llf~ayor
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or ei D naldson, Town Clerk
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. RESOLUTION N0.6
Series of 2005
A RESOLUTION, PURSUANT TO SECTION 8-1-21(6)(2) VAIL TOWN
CODE, AUTHORIZING STREET-CUT PERMITS TO BE ISSUED
BETWEEN MARCH 15 AND APRIL 15 Or ~r~-CH YEAR IN CERTAIN
CIRCUMSTANCES; AND SETTING FORTH DETAILS IN REGARD
THERETO.
WHEREAS, the Town of Vail (the "Town"), in the County of Eagle and
State of Colorado is a home rule municipal corporation duly organized and existing
under the laws of the State of Colorado and the Town Charter (the "Charter"); and
WHEREAS, the members of the Town Council of the Town (the "Council")
have been duly elected and qualified; and
WHEREAS, approximately $1 billion in redevelopment is proposed in the
Town of Vail over the next several years which will have many physical and economic
impacts on the Town's businesses, guests and residents; and
WHEREAS, the Council wishes to minimize the negative impacts of this
unprecedented amount of construction activity on the Town's businesses, guests and
• residents.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF
THE TOWN OF VAIL, COLORADO:
Section 1.
Pursuant to Section 8-1-21(6)(2) of the Vail Town Code, the_Council hereby authorizes
the Town Manager, in consultation with the Town Director of Public Works, to allow
street-cut permits to be issued so as to allow a street o~,ening or pavement cut in the
public right of way between March 15 and April 15 of each year, subject to the following
findings:
By authorizing astreet-cut permit to be issued so as to allow a street opening or
pavement cut in the public way prior to Apri(15:
1. Economic and physical impacts on merchants affected by the construction
activity proposed will be reduced and/or mitigated.
2. Negative traffic impacts would be mitigated and emergency response
capabilities would be improved.
3. Coordination with other public or private projects will be improved which
would affect traffic, emergency response, utility work, Town economics
and/or a hardship on Town businesses.
Resolution No. 6, Series of 2005
$ection 2.
The authority granted pursuant to this Resolution shall terminate on April 1, 2008,
unless sooner extended or terminated by separate resolution of the Council.
Section 3.
If any part, section, subsection, sentence, clause or phrase of this Resolution is for any
reason held to be invalid, such decision shall not affect the validity of the remaining
portions of this Resolution, and the Council hereby declares it would have passed this
Resolution, and each part, section, subsection, clause or phrase thereof, regardless of
the fact that any one or more parts, sections, subsections, clauses or phrases be
declared invalid.
Section 4.
The Council hereby finds, determines and declares that this Resolution is necessary
and proper for the health, safety and welfare of the Town of Vail and the inhabitants
thereof.
Section 5.
This Resolution shall take effect immediately upon its passage.
INTRODUCED, READ, APPROVED AND ADOPTED THIS 5th DAY OF APRIL,
2005.
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Rodney E,/Slifer,
Mayor, Town of Vail
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RESOLUTION N0.7
Series of 2005
A RESOLUTION DESIGNATING TWO PROPERTIES IDENTIFIED IN ATTACHMENT
(A) AS PARKS IN THE TOWN OF VAIL; AND SETTING FORTH DETAILS IN
REGARD THERETO.
WHEREAS, on ,lanuary 5, 2005, the Town of Vail Open Space Board of Trustees
voted unanimously to forward a recommendation to the Vail Town Council that the
properties in attachment A referenced as parcels B, & C be considered for designation
as parks so that they could be considered for designated open space in the future.
WHEREAS, these properties are currently owned by the Town of Vail and
undeveloped; and
WHEREAS, the Vail Town Council finds that these properties are important in
preserving the open space character of the Town of Vail and providing passive outdoor
recreational opportunities; and
WHEREAS, the two properties referenced in Attachment A were purchased with
Real Estate Transfer Tax funds; and
WHEREAS, the Vail Town Council finds that the properties identified in
• attachment A are important to designate as parks to ensure the health, safety, and
welfare of the Town of Vail.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE
TOWN OF VAIL, COLORADO:
1. The Town Council of the Town of Vail hereby designates the two
properties identified in Attachment A as Town of Vail parks.
2. tf any part, section, subsection, sentence, clause or phrase of this
Resolution is for any reason held to be invalid, such decision shall not affect the validity
of the remaining portions of this Resolution, and the Town Council hereby declares it
would have passed this Resolution, and each part, section, subsection, clause or phrase
thereof, regardless of the fact that any one or more parts, sections, subsections, clauses
or phrases be declared invalid.
3. The Town Council hereby finds, determines and declares that this
Resolution is necessary and proper for the health, safety and welfare of the Town of Vait
and the inhabitants thereof.
4. Bylaws, orders, resolutions and ordinances, or parts thereof, inconsistent
herewith are repealed to the extent only of such inconsistency. This repealer shall not
be construed to revise any bylaw, order, resolution or ordinance, or part thereof,
theretofore repealed.
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fNTRODUCED, READ, APPROVED AND ADOPTED this 5"' day of April,
2005.
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ATTEST: '
L~elei onaldson, Town Clerk
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F:\cdev\COUNCIL\MEMOS\0512005 desigopenspace\RESOLUTION NO. 7, Series of 2005 PARK.doc
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. Attachment A
Lands to be designated as Park
Reference Legal Parcel
Parcel B Tract A, Vail Village 13`" 2101-034-03-002
Filing
Parcel C Unplatted land adjacent to 2099-182-00-002
East Vail Water Tank
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RESOLUTION NO. lA
Series of 2005
A RESOLUTION DESIGNATING THE MIDDLE BENCH OF DONOVAN PARK
DESCRIBED IN ATTACHMENT (A) AS A PARK IN THE TOWN OF VAIL; AND
SETTING FORTH DETAILS IN REGARD THERETO.
WHEREAS, on January 5, 2005, the Town of Vail Open Space Board of Trustees
voted unanimously to forward a recommendation to the Vail Town Council that the
property in attachment A be considered for designation as a park so that they could be
considered for designated open space in the future.
WHEREAS, this property is currently owned by the Town of Vail and
undeveloped; and
WHEREAS, the Vail Town Council finds that this property is important in
preserving the open space character of the Town of Vail and providing passive outdoor
recreational opportunities; and
WHEREAS, the property referenced in Attachment A was purchased with Real
Estate Transfer Tax funds; and
WHEREAS, the Vail Town Council finds that the property identified in attachment
• A is important to designate as parks to ensure the health, safety, and welfare of the
Town of Vail.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE
TOWN OF VAIL, COLORADO:
1. The Town Council of the Town of Vail hereby designates the property
identified in Attachment A as a Town of Vail park.
2. If any part, section, subsection, sentence, clause or phrase of this
Resolution is for any reason held to be invalid, such decision shall not affect the validity
of the remaining portions of this Resolution, and the Town Council hereby declares it
would have passed this Resolution, and each part, section, subsection, clause or phrase
thereof, regardless of the fact that any one or more parts, sections, subsections, clauses
or phrases be declared invalid.
3. The Town Council hereby finds, determines and declares that this
Resolution is necessary and proper for the health, safety and welfare of the Town of Vail
and the inhabitants thereof.
4. Bylaws, orders, resolutions and ordinances, or parts thereof, inconsistent
herewith are repealed to the extent only of such inconsistency. This repealer shall not
be construed to revise any bylaw, order, resolution or ordinance, or part thereof,
theretofore repealed.
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INTRODUCED, READ, APPROVED AND ADOPTED this 5~' day of April,
2005.
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F:\cdev\COUNCIL\MEMOS\05\2005 desigopenspace\RESOLUTION NO. 7A, Series of 2005 PARK.doc
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Attachment A
Lands to be designated as Park
Reference Legal I Parcel
Parcel A Middle Bench of Donovan f 2103-123-00-011
Park-Unplatted
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RESOLUTION No. 8
Series of 2005
A RESOLUTION CONDITIONALLY APPROVING THE
CONSOLIDATED SERVICE PLAN FOR
VAIL SQUARE METROPOLITAN DISTRICT NO.1,
VAIL SQUARE METROPOLITAN DISTRICT N0.2,
AND
VAIL SQUARE METROPOLITAN DISTRICT N0.3
WHEREAS, pursuant to Sections 32-1-204.5 and 32-1-205, C.R.S., as amended, the
Consolidated Service Plan for Vail Squaze Metropolitan District No. 1, Vail Square Metropolitan
District No. 2, and Vail Square Metropolitan District No. 3 has been submitted to the Town
Council of the Town of Vail (the "Council"); and
WHEREAS, pursuant to the provisions of Title 32, Article 1, C.R.S., as amended, the
Council held a public hearing on the Consolidated Service Plan for Vail Square Metropolitan
District No. 1, Vail Square Metropolitan District No. 2, and Vail Square Metropolitan District
No. 3 on May 3, 2005; and
WHEREAS, the Council has considered the Service Plan, and all other testimony and
evidence presented at the hearing; and
NOW THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN
OF VAIL, COLORADO:
1. The hearings before the Council were extensive and complete; that all pertinent
facts, matters and issues were submitted; that all interested parties were heard or had the
opportunity to be heard; and, that evidence satisfactory to the Council of each of the following
was presented:
a. There is sufficient existing and projected need for organized
service in the azea to be served by the proposed special districts.
b. Existing service in the azea to be served by the proposed special
districts is inadequate for present and projected needs.
c. The proposed special districts are capable of providing economical
and sufficient service to the areas they intend to serve.
d. The areas to be included within the proposed special districts have
or will have the financial ability to discharge the proposed indebtedness on a
reasonable basis.
Resolution No. 8, Series of 2005
• NOW, THEREFORE, BE IT RESOLVED by the Town Council of the Town of Vail,
Colorado:
1. That the Town Council of the Town of Vail, Colorado, does hereby determine
that the requirements of Sections 32-1-202(2) and 32-1-203(2), C.R.S., relating to the filing of a
Consolidated Service Plan for Vail Square Metropolitan District No. 1, Vail Square Metropolitan
District No. 2, and Vail Square Metropolitan District No. 3 and the requirements of Sections 32-
1-204.5, C.R.S., relating to the hearing by the Council, have been fulfilled in a timely manner.
2. That the Town Council of the Town of Vail, Colorado, does hereby approve the
Consolidated Service Plan for Vail Square Metropolitan District No. 1, Vail Square Metropolitan
District No. 2, and Vail Square Metropolitan District No. 3 District as presented to Council on
May 3, 2005, conditioned on execution of an intergovernmental agreement by and between Vail
Square Metropolitan District No. 1 and the Vail Reinvestment Authority regarding the transfer of
increment tax funding revenue from the Vail Reinvestment Authority to Vail Square
Metropolitan District No. 1 for the purpose of funding certain infrastructure to be built by Vail
Square Metropolitan District No. 1.
3. A certified copy of this Resolution shall be filed in the records of the Town and
submitted to the petitioners for the purpose of filing in the District Court of Eagle County.
4. That all resolutions or parts thereof in conflict with the provisions hereof shall be
• and the same are hereby repealed.
INTRODUCED, READ, APPROVED AND ADOPTED this ~'hd day of ,
2005.
TOWN COUNCIL OF THE TOWN OF VAIL,
EAGLE COUNTY, COLORADO
ATTEST:
Lc~lei ~onaldson, Town Clerk
•
Y•
Rodney Ef Slifer, Mayor
~WN~~~C~
.•~ .q~
:~
sF,~ ~
c~o•.,.
ORAD~
Resolution No. 8, Series of 2005 2
•
CONSOLIDATED SERVICE I
~~ 56
~~~~
a oa ~ ~l/B
VAIL SQUARE METROPOLITAN DISTRICT NOS. 1, 2 & 3
TOWN OF VAIL, COLORADO
Apri126, 2005
•
Prepared
by
White, Bear & Ankele
Professional Corporation
1805 Shea Center Drive, Suite 100
Highlands Ranch, CO 80129
(303) 858-1800
•
. TABLE OF CON i ANTS
I. INTRODUCTION .............................................................................................................. 1
A. Purpose and Intent ................................................................................................... 1
B. Need for the Districts .............................................................................................. 1
C. Objective of the Town Regarding Districts Service Plans ...................................... 1
II. DEFINITIONS ....................................................................................................................2
III. BOUNDARIES ................................................................................................................... 4
IV. PROPOSED LAND USE(POPULATION PROJECTIONSlASSES5ED VALUATION. 4
V. DESCRIPTION OF PROPOSED POWERS, IMPROVEMENTS AND SERVICES....... 4
A. Powers of the Districts and Service Plan Amendment ........................................... 4
1. Operations and Maintenance Limitation ..................................................... 5
2. Construction Standards Limitation ............................................................. 5
3. Privately Placed Debt Limitation ................................................................ 5
4. Inclusion Limitation .................................................................................... 5
5. Debt Limitation ........................................................................................... 5
6. Total Debt Issuance Limitation ................................................................... 5
7. Monies from Other Governmental Sources ................................................ 5
8. Bankruptcy Limitation ................................................................................ 6
• 9. Service Plan Amendment Requirement ...................................................... 6
B. Preliminary Engineering Survey. 6
C. Multiple District Structure ...................................................................................... 7
VI. VI. FINANCIAL PLAN ................................................................................................... 7
A. General ..........................................:......................................................................... 7
D. Maximum Voted Interest Rate and Maximum Underwriting Discount ................. 7
E. Maximum Debt Mill Levy ...................................................................................... 7
F. Maximum Debt Mill Levy Imposition Term .......................................................... 8
G. Debt Repayment Sources ........................................................................................ 8
H. Debt Instrument Disclosure Requirement ............................................................... 9
I. Security for Debt ..................................................................................................... 9
J. TABOR Compliance ............................................................................................... 9
K. Districts' Operating Costs ....................................................................................... 9
VII. VII. ANNUAL REPORT ................................................................................................ 10
VIII. A. General .....................................................................................................................10
B. Reporting of Significant Events ............................................................................... 10
IX. DISSOLUTION .......................................................................................................10
X. DISCLOSURE TO PURCHASERS ........................................................................ 11
• XI. INTERGOVERNMENTAL AGREEMENTS ......................................................... 11
i
• XII. CONCLUSION ........................................................................................................11
EXrYi~rITS
EXHIBIT A Legal Descriptions for Vail Square Metropolitan Districts Nos. 1, 2 and 3
El~r~usIT B Districts' Initial Boundaries Map
Ekni.uIT C Vail Vicinity Map
EX~t,.~IT D Intergovernmental Agreement between the Districts and Vail
•
•
ii
• I. INTRODUCTION
A. Puroose and Intent.
The Districts aze independent units of local government, separate and distinct
from the Town, and, except as may otherwise be provided far by State or local law or this
Service Plan, their activities are subject to review by the Town only insofar as they may deviate
in a material matter from the requirements of the Service Plan. It is intended that the Districts
will provide a part or all of various Public Improvements necessary and appropriate for the
development of a project within the "Lionshead Core" azea within the Town of Vail to be known
as "Vail Square" (the "Project"). The Public Improvements will be constructed for the use and
benefit of all anticipated inhabitants and taxpayers of the Districts. The primary purpose of the
Districts will be to finance the construction of these Public Improvements. The Districts aze not
being created to provide ongoing operations and maintenance services other than as specifically
set forth in this Service Plan.
District No. 1 is proposed to be the Operating District, and is expected to
coordinate the financing and construction of all Public Improvements. District Nos. 2 and 3 are
proposed to be the Taxing Districts. District No. 2 is proposed to encompass residential
development. District No. 3 is proposed to encompass non-residential development. The
Districts may, however, include any mix of residential and non-residential development.
B. Need for the Districts.
• There aze currently no other governmental entities, including the Town, located in
the immediate vicinity of the Districts that consider it desirable, feasible or practical to undertake
the planning, design, acquisition, construction, installation, relocation, redevelopment and
financing of the Public Ii~~Y,ovements needed for the Project. Formation of the Districts is
therefore necessary in order for the Public Improvements required for the Project to be provided
in the most economic manner possible. ~
C. Objective of the Town Reuardin~ Districts Service Plans.
The Town's objective in approving the Service Plan for the Districts is to
authorize the Districts to provide for the planning, design, acquisition, construction, installation,
relocation and redevelopment of the Public Improvements from the proceeds of Debt to be issued
by the Districts. All Debt is expected to be repaid by taxes imposed and collected for no longer
than the Maximum Debt Mill Levy Imposition Term for residential properties and at a tax mill
levy no higher than the Maximum Debt Mill Levy for commercial and residential properties.
Debt which is issued within these parameters and, as further described in the Financial Plan, will
insulate property owners from excessive tax burdens to support the servicing of the Debt and will
result in a timely and reasonable dischazge of the Debt.
This Service Plan is intended to establish a limited purpose for the Districts and explicit financial
constraints that are not to be violated under any circumstances. The primary purpose is to
• provide for the Public Improvements associated with development of the Project. Operational
activities are allowed in accordance with the provisions of Section V.A.1. It is the intent of the
Districts to dissolve upon payment or defeasance of all Debt incurred or upon a court
• determination that adequate provision has been made for the payment of all Debt, and if any
District has authorized operating functions under an intergovernmental agreement with the
Town, to retain only the power necessary to impose and collect taxes or fees to pay for these
costs.
The Districts shall be authorized to finance the Public Improvements that can be
funded from Debt to be repaid from tax revenues collected from a mill levy which shall not
exceed the Maximum Debt Mill Levy on commercial and residential properties and which shall
not exceed the Maximum Debt Mill Levy Imposition Term on residential properties. It is the
intent of this Service Plan to assure to the extent possible that no commercial or residential
property beaz an economic burden that is greater than that associated with the Maximum Debt
Mill Levy in amount and that no property developed for a residential use bear an economic
burden that is greater than that associated with the Maximum Debt Mill Levy Imposition Term in
duration even under bankruptcy or other unusual situations. Generally, the cost of Public
Improvements that cannot be funded within these parameters aze not costs to be paid by the
Districts.
II. DEFINITIONS
In this Service Plan, the following terms shall have the meanings indicated below, unless
the context hereof clearly requires otherwise:
• Anuroved Development Plan: means those approvals contemplated by that certain "Core
Site Development Agreement" between the Town, the Vail Reinvestment Authority and
The Vail Corporation dated as of November 8, 2004 (the "Development Agreement") or
other process established by the Town consistent with the terms of the Development
Agreement for identifying, among other things, Public Improvements necessary for
facilitating development for property within the Service Area as approved by the Town
pursuant to the Town Code and as amended pursuant to the Town Code from time to
time.
Boazd: means the board of directors of one District or the boazds of directors of all
Districts, in the aggregate.
Bond. Bonds or Debt: means bonds or other obligations for the payment of which any
District has promised to impose an ad valorem property tax mill levy.
Town: means the Town of Vail, Colorado.
Town Code: means the Town Code of the Town of Vail, Colorado.
Town Council: means the Town Council of the Town of Vail, Colorado.
District: means any one of the Vail Square Metropolitan District No. 1 through 3.
Inclusion Area Boundaries: means the boundaries of the subdivided areas in the airspace
• above the Initial District Boundaries that may exist fi~~~, time to time through subsequent
plats establishing such areas in accordance with the Approved Development Plan.
2
• Initial District Boundaries: means the initial boundaries of the Districts as described in
Exhibit A attached hereto and as depicted on the Initial District Boundary Map.
Districts' Initial Boundaries Man: means the map attached hereto as Exhibit C
describing the initial boundaries of the Districts.
District No. 1: means the Vail Square Metropolitan District No. 1.
District No. 2: means the Vail Square Metropolitan District No. 2
District No. 3: means the Vail Square Metropolitan District No. 3.
Districts: means District No. 1, District No. 2 and District No. 3 collectively.
External Financial Advisor: means a consultant that: (i) advises Colorado governmental
entities on matters relating to the issuance of securities by Colorado governmental
entities, including matters such as the pricing, sales and marketing of such securities and
the procuring of bond ratings, credit enhancement and insurance in respect of such
securities; (ii) shall be an underwriter, investment banker, ar individual listed as a public
finance advisor in the Bond Buyer's Municipal Market Place; and (iii) is not an officer or
.,~~~yloyee of the District and has not been otherwise engaged to provide services in
connection with the transaction related to the applicable Debt.
• Financial Plan: means the Financial Plan described in Section VII which describes (i)
how the Public Improvements are to be financed; (ii) how the Debt is expected to be
incurred; and (iii) the estimated operating revenue derived from property taxes for the
first budget year.
Maximum Debt Mill Lew: means the maximum mill levy any of the Districts is
permitted to impose for payment of Debt as set forth in Section VII.C below.
Maximum Debt Mill Lew Imposition Term: means the maximum term for imposition of
a mill levy on a particular property developed for residential uses as set forth in Section
VI.F below.
Operating District: means District No. 1.
Proiect: means the development or property commonly referred to as Vail Square,
consisting of an area including approximately 4.855 acres within the Town of Vail,
located adjacent to the base of the Eagle Bann Gondola.
Public Improvements: means a part or all of the improvements authorized to be planned,
designed, acquired, constructed, installed, relocated, redeveloped and financed as
generally described in the Special District Act, except as specifically limited in Section V
below, and except as limited by the Development Agreement, to serve the future
taxpayers and inhabitants of the Service Area as determined by the Board of one or more
• of the Districts.
• Service Area: means the property within the Initial District Boundaries and the Inclusion
Area Boundaries.
Service Plan: means this service plan for the Districts approved by Town Council.
Service Plan Amendment: means an amendment to the Service Plan approved by Town
Council in accordance with the Town's ordinance and the applicable state law.
Special District Act: means Section 32-1-101, et ~., of the Colorado Revised Statutes,
as amended from time to time.
State: means the State of Colorado.
Taxing District: means District Nos. 2 and 3.
III. BOUNDARIES
The combined area within the Initial District Boundaries is approximately 4.855 acres.
Legal descriptions of the boundaries of District No. 1, District No. 2 and District No. 3 are
attached hereto as Exhibit A. A map of the Initial District Boundaries is attached hereto as
Exhibit B. A vicinity map is attached hereto as Exhibit C. It is anticipated that the Districts'
boundaries may change from time to time as it undergoes inclusions and exclusions pursuant to
Section 32-1-401, et sec ., C.R.S., and Section 32-1-501, et ~., C.R.S., subject to the limitations
• set forth in Article V below.
IV. PROPOSED LAND USE/POPULATION PROJECTIONS/ASSESSED,
VALUATION
The Service Area consists of approximately 4.855 acres of land. The current assessed
valuation of the District Boundaries is $5,238,300 for purposes of this Service Plan and, at build
out, is expected to be sufficient to reasonably dischazge the Debt under the Financial Plan. The
population of the Districts at build-out is estimated to be approximately 150 people.
Approval of this Service Plan by the Town does not imply approval of the development
of a specific azea within the Districts, nor does it imply approval of the number of residential
units or the total site/floor azea of commercial or industrial buildings identified in this Service
Plan or any of the exhibits attached thereto, unless the same is contained within an Approved
Development Plan.
V. DESCRIPTION OF PROPOSED POWERS. IMPROVEMENTS AND SERVICES,
A. Powers of the Districts and Service Plan Amendment.,
The Districts shall have the power and authority to provide the Public
Improvements and related operation and maintenance services within and without the boundaries
of the Districts as such power and authority is described in the Special District Act, and other
• applicable statutes, common law and the Constitution, subject to the limitations set forth herein.
4
• 1. Operations and Maintenance Limitation. The purpose of the Districts is to
plan for, design, acquire, construct, install, relocate, redevelop and finance the Public
Improvements. The Districts shall dedicate the Public Improvements to the Town or other
appropriate jurisdiction or owners association in a manner consistent with the Approved
Development Plan and other rules and regulations of the Town and applicable provisions of the
Town Code. The Districts shall not be authorized to operate and maintain any part or all of the
Public Improvements, other than the On-Site Streetscape Improvements and the Lionshead Place
Improvements, as those terms aze defined in the Development Agreement, and any other portions
of the Public Improvements as may otherwise be authorized by the Town Manager.
2. Construction Standards Limitation. The Districts will ensure that the
Public Improvements are designed and constructed in accordance with the standards and
specifications of the Town and of other governmental entities having proper jurisdiction and of
those special districts that qualify as "interested parties" under Section 32-1-204(1), C.R.S., as
applicable. The Districts will obtain the Town's approval of civil engineering plans and will
obtain applicable permits for construction and installation of Public Improvements prior to
performing such work.
3. Privately PI,~cPCI; Debt Limitation. Prior to the issuance of any privately
placed Debt, the District shall obtain the certification of an External Financial Advisor
substantially as follows:
• We are [I am] an External Financial Advisor within the meaning of
the District's Service Plan.
We [I] certify that (1) the net effective interest rate (calculated as
defined in Section 32-1-103(12), C.R.S.) to be borne by [insert the
designation of the Debt] does not exceed a reasonable current [tax-
exempt] [taxable] interest rate, using criteria deemed appropriate
by us [me] and based upon our [my] analysis of comparable high
yield securities; and (2) the structure of [insert designation of the
Debt], including maturities and eazly redemption provisions, is
reasonable considering the financial circumstances of the District.
4. Inclusion Limitation. The Districts shall not include within any of their
boundaries any property outside the Service Area without the prior written consent of the Town
Council.
5. Debt Limitation. The Districts shall not be authorized to incur any
indebtedness until such time as the Districts have approved and executed the form of
Intergovernmental Agreement attached as Exhibit D.
6. Total Debt Issuance Limitation. The Districts shall not issue Debt in
excess of $20 Million.
• 7. Monies from Other Governmental Sources. The Districts shall not apply
for or accept Conservation Trust Funds, Great Outdoors Colorado Funds, or other funds
available from or through governmental or non-profit entities that the Town is eligible to apply
• for, except pursuant to an intergovernmental agreement with the Town. This Section shall not
apply to specific ownership taxes which shall be distributed to and a revenue source for the
Districts without any limitation.
8. Bankruptcv Limitation. All of the limitations contained in this Service
Plan, including, but not limited to, those pertaining to the Maximum Debt Mill Levy and the
Maximum Debt Mill Levy Imposition Term have been established under the authority of the
Town to approve a Service Plan with conditions pursuant to Section 32-1-204.5, C.R.S. It is
expressly intended that such limitations:
A. Shall not be subject to set-aside for any reason or by any court of
competent jurisdiction, absent a Service Plan Amendment; and
B. Are, together with all other requirements of Colorado law,
included in the "political or governmental powers" reserved to the State under the U.S.
Bankruptcy Code (11 U.S.C.) Section 903, and are also included in the "regulatory or electoral
approval necessary under applicable nonbankruptcy law" as required for confirmation of a
Chapter 9 Bankruptcy Plan under Bankruptcy Code Section 943(b)(6).
Any Debt, issued with a pledge or which results in a pledge, that exceeds the Maximum
Debt Mill Levy and the Maximum Debt Mill Levy Imposition Term, shall be deemed a material
modification of this Service Plan pursuant to Section 32-1-207, C.R.S. and shall not be an
• authorized issuance of Debt unless and until such material modification has been approved by
the Town as part of a Service Plan Amendment.
9. Service Plan Amendment Requirement. This Service Plan has been
designed with sufficient flexibility to enable the Districts to provide required services and
facilities under evolving circumstances without the need for numerous amendments. Actions of
the Districts which violate the limitations set forth in Sections V.A.1-7 above or in Section VI.B-
G shall be deemed to be material modifications to this Service Plan and the Town shall be
entitled to all remedies available under State and local law to enjoin such actions of the Districts.
B. Preliminary Eneineerin¢ Survev.
The Districts shall have authority to provide for the planning, design, acquisition,
construction, installation, relocation, redevelopment, maintenance and financing of the Public
Improvements within and without the boundaries of the Districts, to be more specifically defined
in an Approved Development Plan. An estimate of the costs of the Public Improvements which
may be planned for, designed, acquired, constructed, installed, relocated, redeveloped,
maintained or financed was prepared based upon a preliminary engineering survey and estimates
derived from the zoning on the property in the Service Area and is approximately $10 Million.
All of the Public Improvements will be designed in such a way as to assure that
the Public Improvements standards will be compatible with those of the Town and shall be in
accordance with the requirements of the Approved Devel.,~,~~~ent Plan. All construction cost
• estimates are based on the assumption that construction conforms to applicable local, State or
Federal requirements.
6
• C. Multiple District Structure.
It is anticipated that the Districts, collectively, will undertake the financing and
construction of the Public Improvements. The nature of the functions and services to be
provided by each District shall be clarified in an intergovernmental agreement between and
among the Districts. All such agreements will be designed to help assure the orderly
development of the Public Improvements and essential services in accordance with the
requirements of this Service Plan. Implementation of such intergovernmental agreement is
essential to the orderly implementation of this Service Plan. Accordingly, any determination of
any Board to set aside said intergovernmental agreement without the consent of all of the
Districts shall be a material modification of the Service Plan. Said intergovernmental agreement
may be amended by mutual agreement of the Districts without the need to amend this Service
Plan.
VI. FINANCIAL PLAN
A. General.
The Districts shall be authorized to provide for the planning, design, acquisition,
construction, installation, relocation and/or redevelopment of the Public Improvements from
their revenues and by and through the proceeds of Debt to be issued by the Districts. The
Financial Plan for the Districts shall be to issue such Debt as the Districts can reasonably pay
• within the Maximum Debt Mill Levy Imposition Term from revenues derived from the
Maximum Debt Mill Levy and other legally available revenues. The total Debt that the Districts
shall be permitted to issue shall not exceed $20 Million and shall be permitted to be issued on a
schedule and in such year or years as the Districts determine shall meet the needs of the
Financial Plan referenced above and shall be phased to serve development as it occurs. All
bonds and other Debt issued by the Districts may be payable from any and all legally available
revenues of the Districts, including general ad valorem taxes to be imposed upon all taxable
property within the Districts. The Districts will also rely upon various other revenue sources
authorized by law. These will include the power to assess fees, rates, tolls, penalties, or charges
as provided in Section 32-1-1001(1), C.R.S., as amended from time to time.
B. Maximum Voted Interest Rate and Maximum Underwriting Discount.
The interest rate on any Debt is expected to be the market rate at the time the Debt
is issued. In the event of a default, the r. ~YOSed maximum interest rate on any Debt is not
expected to exceed 18%. The proposed maximum underwriting discount will be 5%. Debt,
when issued, will comply with all relevant requirements of this Service Plan, State law and
Federal law as then applicable to the issuance of public securities.
C. Maximum Debt Mill Lew.
The "Maximum Debt Mill Levy" shall be the maximum mill levy a District is
permitted to impose upon the taxable property within such District for payment of Debt, and
• shall be determined as follows:
7
• 1. For the portion of any aggregate Debt which exceeds 50% of the District's
assessed valuation, the Maximum Debt Mill Levy for such portion of Debt shall be fifty (50)
mills less the number of mills necessary to pay unlimited mill levy Debt described in Section
VII.C.2 below; provided that if, on or after January 1, 2005, there are changes in the method of
calculating assessed valuation or any constitutionally mandated tax credit, cut or abatement; the
mill levy limitation applicable to such Debt may be increased or decreased to reflect such
changes, such increases or decreases to be determined by the Board in good faith (such
determination to be binding and final) so that to the extent possible, the actual tax revenues
generated by the mill levy, as adjusted for changes occurring after January 1, 2005, aze neither
diminished nor enhanced as a result of such changes. For purposes of the foregoing, a change in
the ratio of actual valuation shall be deemed to be a change in the method of calculating assessed
valuation.
2. For the portion of any aggregate Debt which is equal to or less than 50%
of the District's assessed valuation, either on the date of issuance or at any time thereafter, the
mill levy to be imposed to repay such portion of Debt shall not be subject to the Maximum Debt
Mill Levy and, as a result, the mill levy may be such amount as is necessary to pay the Debt
service on such Debt, without limitation of rate.
3. For purposes of the foregoing, once Debt has been determined to be within
Section VII.C.2 above, so that the District is entitled to pledge to its payment an unlimited ad
valorem mill levy, such District may provide that such Debt shall remain secured by such
• unlimited mill levy, notwithstanding any subsequent change in such District's Debt to assessed
ratio. All Debt issued by the Districts must be issued in compliance with the requirements of
Section 32-1-1101, C.R.S. and all other requirements of State law.
To the extent that the Districts aze composed of or subsequently organized into
one or more subdistricts as permitted under Section 32-1-1101, C.R.S., the term "District" as
used in this shall be deemed to refer to the District and to each such subdistrict sepazately, so that
each of the subdistricts shall be treated as a sepazate, independent district for purposes of the
application of this definition.
D. Maximum Debt Mill Lew Imposition Term.
The Districts shall not impose a levy for repayment of any and all Debt (or use the
proceeds of any mill levy for repayment of Debt) on any single property developed for
residential uses which exceeds forty (40) years after the year of the initial imposition of such mill
levy unless a majority of the Boazd of Directors of the District imposing the mill levy are
residents of such District and have voted in favor of a refunding of a part or all of the Debt and
such refunding will result in a net present value savings as set forth in Section 11-56-101, C.R.S.;
et seg.
E. Debt Renavment Sources.
Each of the Districts may impose a mill levy on taxable property within its
• boundaries as a primary source of revenue for repayment of debt service and for operations and
maintenance. The Districts may also rely upon various other revenue sources authorized by law.
• At the Districts' discretion, these may include the power to assess fees, rates, tolls, penalties, or
charges as provided in Section 32-1-1001(1), C.R.S., as amended from time to time. In no event
shall the debt service mill levy in any District exceed the Maximum Debt Mill Levy or, for
residential property within a District, the Maximum Debt Mill Levy Imposition Term, except
pursuant to an intergovernmental agreement between the Operating District and the Town for
Regional Improvements.
F. Debt Instrument Disclosure Requirement.
In the text of each Bond and any other instrument representing and constituting
Debt, the District shall set forth a statement in substantially the following form:
By acceptance of this instrument, the owner of this Bond agrees
and consents to all of the limitations in respect of the payment of
the principal of and interest on this Bond contained herein, in the
resolution of the District authorizing the issuance of this Bond and
in the Service Plan for creation of the District.
Similar language describing the limitations in respect of the payment of the
principal of and interest on Debt set forth in this Service Plan shall be included in any document
used for the offering of the Debt for sale to persons, including, but not limited to, a developer of
property within the boundaries of the Districts.
• G. Security for Debt.
The Districts shall not pledge any revenue or property of the Town as security for
the indebtedness set forth in this Service Plan. Approval of this Service Plan shall not be
construed as a guarantee by the Town of payment of any of the Districts' obligations; nor shall
anything in the Service Plan be construed so as to create any responsibility or liability on the part
of the Town in the event of default by the Districts in the payment of any such obligation.
H. TABOR Compliance.
The Districts will comply with the provisions of TABOR. In the discretion of the
Board, the Districts may set up other qualifying entities to manage, fund, construct and operate
facilities, services, and programs. To the extent allowed by law, any entity created by the
Districts will remain under the control of the Districts' Boards.
I. Districts' Operating Costs.
The estimated cost of acquiring land, engineering services, legal services and
administrative services, together with the estimated costs of the districts' organization and initial
operations, are anticipated to be $250,000, which will be eligible for reimbursement from Debt
proceeds.
In addition to the capital costs of the Public Improvements, the Districts will
• require operating funds for administration and to plan and cause the Public Improvements to be
constructed and maintained. The first year's operating budget is estimated to be $250,000 which
9
• is anticipated to be derived from property taxes and other revenues. The first year's operating
budget is an estimate only, and variations from this estimate shall not be considered a material
modification of this Service Plan.
The Maximum Debt Mill Levy for the repayment of Debt shall not apply to the
District's ability to increase their mill levy as necessary for provision of operation and
maintenance services to their taxpayers and service users.
VII. ANNUAL REPORT
A. General.
Each of the Districts shall be responsible for submitting an annual report to the
Town Manager no later than August 1~ of each yeaz following the year in which the Order and
,}
Decree creating the District has been issued. , .
B. Renortin~ of Sienificant Events.
The annual report shall include information as to any of the following:
1. Boundary changes made to the District's boundary as of December 31 of
the prior year.
• 2. Intergovernmental Agreements with other governmental entities entered
into as of December 31 of the prior year.
3. A list of all facilities and improvements constructed by the Districts that
have been dedicated to and accepted by the Town as of December 31 of the prior year.
4. The assessed valuation of the Districts for the current yeaz.
5. Current year budget including a description of the Public Improvements to
be constructed in such yeaz.
b. Audit of the Districts financial .statements, for the yeaz ending December
31 of the previous year, prepazed in accordance with generally accepted accounting principles or
audit exemption, if applicable.
7. Notice of any uncured events of default by the District, which continue
beyond a ninety (90) day period, under any Debt instrument.
VIII. DISSOLUTION
Upon an independent determination of the Town Council that the purposes for which the
Districts were created have been accomplished, the Districts agree to file petitions in the
appropriate District Court for dissolution, pursuant to the applicable State statutes. In no event
• shall a dissolution occur until the Districts have provided for the payment or discharge of all of
10
• their outstanding indebtedness and other financial obligations as required pursuant to State
statutes.
1X. DISCLOSURE TO PURCHASERS
The Districts will use reasonable efforts to assure that all developers of the property
located within the Districts provide written notice to all purchasers of property in the Districts
regarding the Maximum Debt Mill Levy, as well as a general description of the Districts'
authority to impose and collect rates, fees, tolls and charges. The form of notice shall be filed
with the Town prior to the initial issuance of the Debt of the District imposing the mill levy
which is the subject of the Maximum Debt Mill Levy.
X. INTERGOVERNMENTAL AGREEMENTS
The form of the intergovernmental agreement relating to the limitations imposed on the
Districts' activities, is attached hereto as Exhibit D. The Districts shall approve the
intergovernmental agreement in substantially the form attached as Exhibit D at their first Board
meeting after their organizational elections. Failure of the Districts to execute the
intergovernmental agreement as required herein shall constitute a material modification and shall
require a Service Plan Amendment. The Town Council shall approve the intergovernmental
agreement in substantially the form attached as Exhibit D prior to execution by the Districts.
• In accordance with pazagraph 6.b) of the Development Agreement, the Districts are
expected to execute an intergovernmental agreement with the Vail Reinvestment Authority
relating to construction and/or maintenance of certain Public Improvements, and the payment to
the Districts of tax revenues collected by the Authority on behalf of the Districts.
XI. CONCLUSION
It is submitted that this Service Plan for the Districts, as required by Section 32-1-203(2),
C.R.S. establishes that:
1. There is sufficient existing and projected need for organized service in the azea to
be serviced by the Districts;
2. The existing service in the azea to be served by the Districts is inadequate for
present and projected needs;
3. The Districts are capable of providing economical and sufficient service to the
azea within its proposed boundaries; and
4. The azea to be included in the Districts does have, and will have, the financial
ability to dischazge the proposed indebtedness on a reasonable basis.
Respectfully submitted this day of , 2005.
•
11
By'
Attorneys for the Proponents of the Districts
V SMD~.SPLANRFC 1535041105
0801.0003e
12
•
EXHIBIT A
Legal Descriptions
Vail Square Metropolitan District No. 1 - Lot 3, Lionshead Sixth Filing, Town of Vail,
County of Eagle, State of Colorado.
Vail Square Metropolitan District No. 2 - Lot 1, Lionshead Sixth Filing, Town of Vail,
County of Eagle, State of Colorado.
Vail Square Metropolitan District No. 3 - Lot 2, Lionshead Sixth Filing, Town of Vail,
County of Eagle, State of Colorado.
•
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EknuslT B
Districts' Initial Boundaries Map
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•
EXHIBIT D
Intergovernmental Agreement between the Districts and Vail
L`
• INTERGOVERNMENTAL AGREEMENT BETWEEN
its. TOWN OF VAIL, COLORADO,
VAIL SQUARE METROPOLITAN DISTRICT NO. 1,
VAIL SQUARE METROPOLITAN DISTRICT N0.2,
AND VAIL SQUARE METROPOLITAN DISTRICT N0.3
THIS AGREEMENT is made and entered into as of this _ day of ,
by and between the TOWN OF VAIL, a municipal corporation of the State of
Colorado (`°Town"), and VAIL SQUARE METROPOLITAN DISTRICT NO. 1, VAIL
SQUARE METROPOLITAN DISTRICT NO. 2, and VAIL SQUARE METROPOLITAN
DISTRICT NO. 3, quasrmunicipal corporations and political subdivisions of the State of
Colorado (the "Districts"). The Town and the Districts are collectively referred to as the Parties.
RECITALS
WHEREAS, the Districts were organized to provide those services and to exercise
powers as are more specifically set forth in the Districts' Service Plan approved by the Town on
• ("Service Plan"); and
WHEREAS, the Service Plan makes reference to the execution of an intergovernmental
agreement between the Town and the Districts; and
WHEREAS, the Town and the Districts have determined it to be in the best interests of
their respective taxpayers, residents and property owners to enter into this Intergovernmental
Agreement ("Agreement").
NOW, THEREFORE, in consideration of the covenants and mutual agreements herein
contained, and for other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the Parties hereto agree as follows:
COVENANTS AND AGREEMENTS
1. Operations and Maintenance. The Districts shall dedicate the Public
Improvements (as defined in the Service Plan) to the Town or other a~,r.~r.~ate jurisdiction or
entity in a manner consistent with the Approved Devel.,y„~ent Plan and other rules and
regulations of the Town and applicable provisions of the Town Code.
The Districts shall be authorized to operate and maintain the OirSite Streetscape
Improvements and the Lionshead Place Improvements (as those terms are defined in that certain
"Core Site Devel.,ra..ent Agreement," dated as of November 8, 2004 by and among the Town,
the Vail Reinvestment Authority, and The Vail Corporation), and such other improvements as
• may be approved by the Town Manager.
CLIENT9,VSMDUPP 1332042605
~~
• 2. Construction Standards. The Districts will ensure that the Public Improvements
are designed and constructed in accordance with the standards and specifications of the Town
and of other governmental entities having proper jurisdiction, as applicable. The Districts will
obtain the Town's approval of civil engineering plans and will obtain applicable permits for
construction and installation of Public Improvements prior to performing such work.
3. Issuance of Privately Placed Debt Prior to the issuance of any privately placed
Debt, the Districts shall obtain the certification of an External Financial Advisor substantially as
follows:
We are [I am] an External Financial Advisor within the
meaning of the District's Service Plan.
We [I] certify that (1) the net effective interest rate
(calculated as defined in Section 32-1-103(12), C.R.S.) to be borne
by [insert the designation of the Debt] does not exceed a
reasonable current [tax exempt] [taxable] interest rate, using
criteria deemed appropriate by us [me] and based upon our [my]
analysis of c.,...rarable high yield securities; and (2) the structure
of [insert designation of the Debt], including maturities and early
redemption provisions, is reasonable considering the financial
circumstances of the District.
• 4. Inclusion The Districts shall not include within any of their boundaries any
property outside the Service Area (as defined in the Service Plan) without the prior written
consent of the Town Council.
5. Total Debt Issuance. The Districts shall not issue Debt in excess of $20 million
6. Debt Issuance Limitation The Districts shall not be authorized to incur any
indebtedness until such time as the Districts have approved and executed the IGA.
7. Monies from Other Governmental Sources,. The Districts shall not apply for or
accept Conservation Trust Funds, Great Outdoors Colorado Funds, or other funds available from
or through governmental or non-profit entities that the Town is eligible to apply for, except
pursuant to an intergovernmental agreement with the Town This Section shall not apply to
specific ownership taxes which shall be distributed to and a revenue source for the Districts
without any limitation.
8. Bankruptcy. All of the limitations contained in the Service Plan, including, but
not limited to, those pertaining to the Maximum Debt Mill Levy and the Maximum Debt Mill
Levy Imposition Term have been established under the authority of the Town to approve a
Service Plan with conditions pursuant to Section 32-1-204.5, C.R.S. It is expressly intended that
such limitations:
•
CLIENTS,VSMDUPP1332042605 2
• Shall not be su 'e
(a) b~ ct to set aside for any reason or by any court of
competent jurisdiction, absent a Service Plan Amendment; and
(b) Are, together with all other requirements of Colorado law, included in the
"political or governmental powers" reserved to the State under the U.S. Bankruptcy Code (11
U.S.C.) Section 903, and are also included in the "regulatory or electoral aYY.~,val necessary
under applicable nonbankruptcy law" as required for confirmation of a Chapter 9 Bankruptcy
Plan under Bankruptcy Code Section 943(6)(6).
Any Debt, issued with a pledge or which results in a pledge, that exceeds the Maximum
Debt Mi11 Levy and the Maximum Debt Mill Levy Imposition Term, shall be deemed a material
modification of the Service Plan pursuant to Section 32-1-207, C.R.S. and shall not be an
authorized issuance of Debt unless and until such material modification has been approved by
the Town as part of a Service Plan Amendment.
9. Dissolution Upon an independent determination of the Town Council that the
purposes for which the Districts were created have been accomplished, the Districts agree to file
petitions in the appropriate District Court for dissolution, pursuant to the applicable State
statutes. In no event shall dissolution occur until the Districts have provided for the payment or
discharge of all their outstanding indebtedness and other financial obligations as required
pursuant to State statutes.
10. Disclosure to Purchasers. The Districts will use reasonable efforts to assure that
all developers of the property located within the Districts provide written notice to all purchasers
of r.~.,rerty in the Districts regarding the Maximum Debt Mill Levy, as well as a general
description of the Districts' authority to impose and collect rates, fees, tolls and charges. The
form of notice shall be filed with the Town prior to the initial issuance of the Debt of the
Districts imposing the mill levy which is the subject of the Maximum Debt Mill Levy.
11. Service Plan Amendment Requirement. Actions of the Districts which violate the
limitations set forth in V.A.1-7 or VI.B-I of the Service Plans shall be deemed to be material
modifications to the Service Plan and the Town shall be entitled to all remedies available under
State and local law to enjoin such actions of the Districts.
12. Annual Renork The Districts shall be responsible for submitting an annual report
to the Town Manager's Office no later than August 1st of each year following the year in which
the Order and Decree creating the Districts has been issued, containing the information set forth
in Section VIII of the Service Plan.
13. Maximum Debt Mi11 Lew The "Maximum Debt Mill Levy" shall be the
maximum mill levy the Districts are permitted to impose upon the taxable property within the
District for payment of Debt, and shall be determined as follows:
(a) For the portion of any aggregate District's Debt which exceeds 50% of the
District's assessed valuation, the Maximum Debt Mill Levy for such portion of Debt shall be
fifty (50) mills less the number of mills necessary to pay unlimited mill levy Debt described in
•~ Section VII.C.2 of the Service Plat; provided that if, on or after January 1, 2004, there are
changes in the method of calculating assessed valuation or any constitutionally mandated tax
CLIENT9,VSMDUPPI332042605 3
•
credit, cut or abatement; the mill levy limitation applicable to such Debt may be increased or
decreased to reflect such changes, such increases or decreases to be determined by the Boazd in
good faith (such determination to be binding and final) so that to the extent possible, the actual
tax revenues generated by the mill levy, as adjusted for changes occurring after January 1, 2004,
are neither diminished nor enhanced as a result of such changes. For purposes of the foregoing,
a change in the ratio of actual valuation shall be deemed to be a change in the method of
calculating assessed valuation.
(b) For the portion of any aggregate District's Debt which is equal to or less
than 50% of the District's assessed valuation, either on the date of issuance or at any time
thereafter, the mill levy to be imposed to repay such portion of Debt shall not be subject to the
Maximum Debt Mill Levy and, as a result, the mill levy may be such amount as is necessary to
pay the Debt service on such Debt, without limitation of rate.
(c} For purposes of the foregoing, once Debt has been determined to be within
Section VII.C.2 of the Service Plan, so that the District is entitled to pledge to its payment an
unlimited ad valorem mill levy, the District may provide that such Debt shall remain secured by
such unlimited null levy, notwithstanding any subsequent change in the District's Debt to
assessed ratio. All Debt issued by the District must be issued in compliance with the
requirements of Section 32-1-1101, C.R S. and all other requirements of State law.
To the extent that the District is composed of or subsequently organized into one
• or more subdistricts as permitted under Section 32-1-1101, C.R.S., the term "District" as used
herein shall be deemed to refer to the District and to each such subdistrict sepazately, so that each
of the subdistricts shall be treated as a separate, independent district for purposes of the
application of this definition.
20. Maximum Debt Mill Lew Imposition Term The Districts shall not impose a
levy for repayment of any and all Debt (or use the proceeds of any mill levy for repayment of
Debt) on any single property developed for residential uses which exceeds forty (40} years after
the yeaz of the initial imposition of such mi111evy unless a majority of the Board of Directors of
the District are residents of the District and have voted in favor of a refunding of a part or all of
the Debt and such refunding will result in a net r~~~ent value savings as set forth in Section 11-
56-101, C.RS.; et seq.
21. Notices. All notices, demands, requests or other communications to be sent by
one party to the other hereunder or required by law shall be in writing and shall be deemed to
have been validly given or served by delivery of same in person to the address or by courier
delivery, via United Parcel Service or other nationally recognized overnight air courier service,
or by depositing same in the United States mail, postage prepaid, addressed as follows:
•
CLIENT9,VSMDUPP1332042605 4
• To the Districts: Vail S uaze Metro olitan District No. 1
q P
Vail Squaze Me,u.,YOlitan District No. 2
Vail Squaze Metropolitan District No. 3
1805 Shea Center Drive, Suite 100
Highlands Ranch, CO 80129
Attn: William P. Ankele, esq
Phone: (303) 858-1800
Fax: (303) 858-1801
To the Town: Town of Vail
75 S. Frontage Road
Vail, CO 81657
Attn: Matt Mire, Town Attorney
Phone: (970) 479-2460
Fax: (970) 479-2157
All notices, demands, requests or other communications shall be effective upon such
personal delivery or one (1) business day after being deposited with United Parcel Service or
other nationally recognized overnight air courier service or three (3) business days after deposit
in the United States mail. By giving the other party hereto at least ten (10) days written notice
• thereof in accordance with the provisions hereof, each of the Parties shall have the right fi~~u
time to time to change its address.
22. Amendment. This Agreement may be amended, modified, changed, or
terminated in whole or in part only by a written agreement duly authorized and executed by the
Parties hereto and without amendment to the Service Plan.
23. Assignment. No Party hereto shall assign any of its rights nor delegate any of its
duties hereunder to any person or entity without having first obtained the prior written consent of
all other Parties, which consent will not be unreasonably withheld. Any purported assignment or
delegation in violation of the provisions hereof shall be void and ineffectual.
24. Default/Remedies. In the event of a breach or default of this Agreement by any
Party, the nolydefaulting Parties shall be entitled to exercise all remedies available at law or in
equity, specifically including suits for specific performance and/or monetary damages. In the
event of any proceeding to enforce the terms, covenants or conditions hereof, the prevailing
Party/Parties in such proceeding shall be entitled to obtain as part of its judgment or award its
reasonable attorneys' fees.
25. Governing Law and Venue. This Agreement shall be governed and construed
under the laws of the State of Colorado.
26. Inurement. Each of the terms, covenants and conditions hereof shall be binding
upon and inure to the benefit of the Parties hereto and their respective successors and assigns.
•
C LIENT9,VSMDUPP 1332042605
n
•
•
27. Intesration This Agreement constitutes the entire agreement between the Parties
with respect to the matters addressed herein. All prior discussions and negotiations regarding the
subject matter hereof are merged herein.
28. Parties Interested Herein. Nothing expressed or implied in this Agreement is
intended or shall be construed to confer upon, or to give to, any person other than the Districts
and the Town any right, remedy, or claim under or by reason of this Agreement or any
covenants, terms, conditions, or provisions thereof, and all the covenants, terms, conditions, and
provisions in this Agreement by and on behalf of the Districts and the Town shall be for the sole
and exclusive benefit of the Districts and the Town
29. Severability If any covenant, term, condition, or provision under this Agreement
shall, for any reason, be held to be invalid or unenforceable, the invalidity or unenforceability of
such covenant, term, condition, or provision shall not affect any other provision contained
herein, the intention being that such provisions are severable.
30. Counteroarts. This Agreement may be executed in one or more counterparts, each
of which shall constitute an original and all of whic h shall constitute one and the same document.
31. Paza~a„h Headings. Paragraph headings are inserted for convenience of
reference only.
32. Defined Terms. Capitalized terms used herein and not otherwise defined shall
have the meanings ascribed to them in the Service Plan.
VAIL SQUARE METROPOLITAN DISTRICT NO. 1 Attest:
By: By:
President Secretary
VAIL SQUARE METROPOLITAN DISTRICT N0.2 Attest:
By: By:
President Secretary
VAIL SQUARE METROPOLITAN DISTRICT NO. 3 Attest:
By: ay:
President Secretary
CLIENT9,VSMDUPP 1332042605
6
• TOWN OF VAIL, COLORADO Attest:
By:
Mayor
APPROVED AS TO FORM:
Town Attorney
•
sy:
Its:
C LIENT9,VSMDUPP 1332042605
RESOLUTION N0.9
Series of 2005
A RESOLUTION APPROVING THE AMENDED LIONSHEAD PUBLIC FACILITIES
DEVELOPMENT PLAN TO INCLUDE TAX INCREMENT AND BOND FINANCING AS
AUTHORIZED BY THE URBAN RENEWAL LAW.
WHEREAS, an urban renewal plan entitled the Lionshead Public Facilities Development
Plan for the Lionshead Area was approved by the Town Council of the Town of Vail pursuant to
Part 1 of Article 25 of Title 31, C.R.S., on March 16, 2004; and
WHEREAS the Vail Reinvestment Authority has determined it is now appropriate to
include provisions for tax increment and bond financing as authorized by the Urban Renewal
Law in an Amended Lionshead Public Facilities Development Plan; and
WHEREAS, such an amendment to the Lionshead Public Facilities Development Plan
constitutes a substantial modification of the Lionshead Public Facilities Development Plan
requiring compliance with all procedural requirements of the adoption of the original Lionshead
Public Facilities Development Plan; and
WHEREAS, the Amended Lionshead Public Facilities Development Plan has previously
been submitted to the Town of Vail Planning and Environmental Commission for its review and
recommendations as to conformity with the Vail Comprehensive Plan pursuant to C.R.S. §31-
~~ 25-107(2); and
WHEREAS, the Town of Vail Planning and Environmental Commisslon has determined
that the Amended Lionshead Public Facilities Development Plan does conform to the Town of
Vail Comprehensive Land Use Plan; and
WHEREAS, no property in the Amended Lionshead Urban Renewal Area has been
included in an urban renewal plan previously submitted to the Town Council of the Town of Vail;
and
WHEREAS, the Town Clerk of the Town of Vail has published the notice of the time,
place, and purpose of the public hearing to consider the adoption of the Amended Lionshead
Public Facilities Development Plan in the Vail Daily in conformance with C.R.S. §31-25-107(3);
and
WHEREAS, the Town Council of the Town of Vail has provided written notice of the
public hearing to consider the adoption of the Amended Lionshead Public Facilities
Development Plan to property owners, residents, and business owners within the proposed
Lionshead Urban Renewal Area at their last known addresses in conformance with C.R.S. §31-
25-107(4)(c); and
WHEREAS, the Eagle County Commissioners have received notification of and copies
of the Amended Lionshead Public Facilities Development Plan as well as such additional
information as is required by C.R.S. §31-25-107(3.5); and
Resolution No. 9, Series of 2005
' WHEREAS, the Eagle County School District has received notification of and copies of
the Amended Lionshead Public Facilities Development Plan and has been given an opportunity
to participate in an advisory capacity; and
WHEREAS, no more than one hundred twenty days have passed since the
commencement of the first public hearing of the Amended Lionshead Public Facilities
Development Plan, and
WHEREAS, Town Council of the Town of Vail has conducted a public hearing and
considered the public testimony received regarding the Amended Lionshead Public Facilities
Development Plan.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF
VAIL THAT:
1. The Amended Lionshead Public Facilities Development Plan conforms to the
Comprehensive Land Use Plan, which is the general plan for the development of the Town of
Vail.
2. The Amended Lionshead Public Facilities Development Plan wil! afford maximum
opportunity, consistent with the sound needs of the Town of Vail as a whole, for the
rehabilitation or redevelopment of the Lionshead Plan Area by private enterprise.
3. The Amended Lionshead Public Facilities Development Plan is hereby approved.
en
INTRODUCED, READ, APPROVED AND ADOPTED this 7 day of June, 2005.
Rodney Slifer, Mayor, Town of Vail
ATTE T:
O; •• ••~
~. '~
rel`ei Donaldson, Town Clerk, Town of Vail SEAL
•
Resolution No. 9, Series of 2005 2
•
AMENDED
LIONSHEAD
• PUBLIC FACILITIES DEVELOPMENT PLAN
VAIL REINVESTMENT AUTHORITY
June 2005
MUR\57037\436628.01
TABLE OF CONTENTS
•
I. INTRODUCTION ..................................................................................................................1
1.1 Preface ...........................................................................................................................1
1.2 Background ................................................................................................................... 1
1.3 Definitions ......................................................................................................................2
2. LEGISLATIVE FINDINGS ...................................................................................................2
2.1 Qualifying Conditions ................................................................................................... 2
2.2 Projects ..........................................................................................................................3
2.3 Planning Approval ........................................................................................................ 3
2.4 Consultation .................................................................................................................. 4
2.5 Public Hearing ............................................................................................................... 4
2.6 Boundaries of the Plan Area ...................................................................................... 4
2.7 Other Findings .............................................................................................................. 4
3. DESCRIPTION OF PLAN OBJECTIVES .........................................................................5
4. PLAN IMPLEMENTATION .................................................................................................5
4.1 .Redevelopment and Rehabilitation Actions ............................................................. 6
4.2 Property Acquisition ..................................................................................................... 6
4.3 Relocation Assistance and Payments 6
•
4.4 ::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::
Public Improvements and Facilities. 6
4.5 Redevelopment Agreements .......................................
... 6
4.6 .
...........................................
Interagency Cooperation
: 7
4
7 ..............
..............................................................................
Advisory Committee
. ..................................................................................................... 7
5. PROJECT FINANCING ...........................
..
. 7
.
...
.................................................................... .
5.1 Tax Increment Financing .......................................................
. 7
5
2 ..
...................................
Additional Taxing Entities 8
. ............................................................................................
5.3 Participating Interest in Projects ................................................................................ 8
6. MODIFICATIONS TO THIS PLAN ....................................................................................8
,]
MUR\58179\432486.01 1
• LIONSHEAD PUBLIC FACILITIES INVESTMENT PLAN
I. June 20051NTRODUCTION
1.1 Preface
This Amended Lionshead Public Facilities Investment Plan ("Amended Plan") has been
prepared by the Vail Reinvestment Authority ("VRA") for adoption by the Town Council
of the Town of Vail pursuant to provisions of the Urban Renewal Law of the State of
Colorado, Article 25 of Title 31, Colorado Revised Statutes. This Amended Plan is
prepared and adopted to satisfy the requirements of § 31-25-107, C.R.S., that an urban
renewal plan be adopted by the governing body of the municipality before an urban
renewal authority undertakes an urban renewal project. The administration of this
project and the enforcement and execution of this Amended Plan shall be performed by
VRA.
1.2 Background
The Lionshead area is one of four base areas for the Vail Mountain Ski Area. The area
was originally developed from 1972-1974 as the base for the Lionshead gondola.
Lodging, condominiums and retail were constructed over a period of years, often without
coordinated planning of circulation and public transportation facilities of the area. The
Lionshead parking garage was built in 1981 significantly increasing the pedestrian traffic
in the area. An extensive bus system has developed as the major means of moving
people around Vail. The Lionshead area now accounts for approximately 45°l0 of the
skier access to Vail Mountain. As a result of this rapid development activity, the traffic
and transportation network for personal vehicles, pedestrians and delivery vehicles does
not work well. There are many vehicle/pedestrian conflicts creating unsafe conditions
throughout the Lionshead area.
In addition, the public infrastructure in the Lionshead area has deteriorated. Extremes of
temperature and topography as wel{ as the intense utilization of the area by residents
and guests has caused streets, sidewalks, curbs and gutters, and retaining walls to be
subject to accelerated deterioration. Inadequate attention to runoff from impervious
surfaces and deteriorated drainage facilities have contributed to water quality
deterioration in the Gore Creek.
The Lionshead Redevelopment Master Plan, adopted in 1999, identifies specific public
infrastructure improvements that need to occur and provides incentives for private
redevelopment. A major implementation action in the Master Plan is the redevelopment
of the Lionshead gondola and Sun Bird building sites into ahigh-end hotel. Other major
development sites include the remodeling of the Marriott and Antler properties. These
development projects will place many more guests and residents into the Lionshead
area. To properly support this major private reinvestment in Lionshead, the supporting
transportation infrastructure needs to be upgraded. Sidewalks and streets need to be
constructed or reconstructed. A transportation center must be built to accommodate the
increased usage of the Lionshead area, and improvements to the Frontage Road are
needed to serve the increased traffic. This Amended Planis intended to provide the
financial mechanisms necessary to support the renovation and reconstruction of the
public infrastructure in Lionshead.
MUR\58179\432486.01
The Lionshead Public Facilities Development Plan was originally adopted in March 2004
without provisions for the use of tax increment financing which is authorized by the
Urban Renewal Law. Since adoption of the Plan in March 2004, The VRA has entered
into the Lionshead Reinvestment Agreement, dated August 3, 2004, with the Vail
Corporation and the VRA and the Town have entered into the Gore Creek Place
development Agreement, dated November 8, 2004, and the Core Site Development
Agreement, dated November 8, 2004, These Agreements commit the Vail Corporation
to the construction of certain improvements in Lionshead and make it necessary for the
VRA and the Town to construct certain public improvements which wilt support and
complement the public and private improvements to be constructed by the Vail
Corporation. It is now necessary and appropriate to authorize the use of tax increment
funds to be generated by the new construction as the funding vehicle for the public
improvements to be constructed by the Town and VRA.
1.3 Definitions
Amended Plan: The Lionshead Public Facilities Investment Plan as amended to include
tax increment financing.
Cooperation Agreement: Any agreement between VRA and the Town of Vail or any
other public body regarding action taken pursuant to any of the powers set forth in the
Urban Renewal Law, or in any other provision of Colorado law, for the purpose of
facilitating public undertakings deemed necessary or appropriate by VRA under this
• Plan.
Plan: This Lionshead Public Facilities investment Plan as it may be modified from time
to time.
Plan Area: The area described in Section 2.6 of this Plan, and depicted on Figure 1,
which has been found to be blighted and for which the undertaking of urban renewal
projects is declared to be necessary.
Redevelopment Agreement: An agreement between VRA and a developer or
developers representing the redevelopment or rehabilitation of property within the Plan
Area.
2. LEGISLATIVE FINDINGS
2.1 Qualifying Conditions
Based on the Lionshead Reinvestment Study prepared by URS Corporation, dated
February 2004, and evidence presented at the public hearing, the Town Council finds
that there exists blight, as defined by § 31-25-103(2), C.R.S., in the Plan Area.
The Lionshead Reinvestment Study found that blight conditions were prevalent
throughout the area. The conditions found to exist include:
a) Defective and inadequate street layout: Street system does not
• provide adequate access for motorists, pedestrians and emergency
vehicles. Turning radii are often inadequate.
MUR\58179\432486.01 2
b) Unsafe conditions that endanger life or property: Traffic and
circulation patterns are dangerous for both pedestrians and
motorists.
c) Deterioration of site improvements: Public parking areas and
concrete retaining walls are deteriorating. Curbs and gutters on
public property also show deterioration.
d) Defective or unusual conditions of title rendering the title
unmarketable: Restrictive covenants controlling uses on certain
properties and other conditions of title impair the redevelopment of
key parcels in the Plan Area. {n many instances, covenant
provisions conflict with or have been ignored by prior development.
e) Environmental contamination: Runoff from unpaved parking areas
and stormwater runoff from paved surfaces contaminate Gore Creek.
f) Inadequate public improvements: Streets and sidewalks on public
property are not adequate for the traffic and do not provide a safe
separation for pedestrians from motor vehicles. Pavement, curb and
gutter and retaining walls on public property are deteriorating.
Overhead utilities are presents and stormwater management is
inadequate.
The Town Council finds that the presence of these factors substantially impairs or
arrests the sound growth of the Town of Vail, retards the provision of housing
accommodations, constitutes an economic and social liability and is a menace to the
public health, safety, morals and welfare of the Town of Vail.
2.2 Projects
The Plan Area is appropriate for one or more urban renewal projects and other
undertakings of the VRA as authorized by the Urban Renewal Law.
2.3 Planning Approval
A general plan for the Town of Vail, known as the Vail Comprehensive Plan, has been
adopted by the Town Council. In addition, the Lionshead area is the subject of the
Lionshead Redevelopment Master Plan which is the Town's official planning document
for guiding the redevelopment of the Lionshead area and is a part of the Vail
Comprehensive Plan. This Amended Plan has been submitted to the Planning and
Environmental Gommission of the Town of Vai! for review and recommendations as to its
conformity with the Vail Comprehensive Plan and the Lionshead Master Plan. The
Planning and Environmental Commission met on May 23, 2005 and has submitted its
written recommendations via a staff memorandum to the Town Council that the
Amended Lionshead Public Facilities Development Plan is in conformity with the Vail
Comprehensive Plan.
•
MUR\58179~432486.01 3
2.4 Consultation
This Amended Plan has been submitted to the Board of County Commissioners of Eagle
County as required by the Urban Renewal Law. The Eagle County School District has
been advised of this Amended Plan and has been given an opportunity to provide
comments.
2.5 Public Hearing
The Town Council of the Town of Vail has held a public hearing to consider this
Amended Plan after public notice thereof in compliance with the Urban Renewal Law in
the Vail Daily describing the time, date, and purpose of the public hearing, identifying the
Plan Area and outlining the general scope of the projects being considered for
implementation pursuant to this Plan. Pursuant to C.R.S. §31-25-107(4)(c), notice of the
public hearing was provided to owners, residents, and business owners in the Plan Area
at their last know address at least 30 days before the date of the public hearing..
2.6 Boundaries of the Plan Area
The boundaries of the Plan Area shall be as set forth in Figure 1 attached hereto. The
Town Council finds that the boundaries of the Plan Area have been drawn as narrowly
as feasible to accomplish the planning and development objectives of this Plan.
2.7 Other Findings
• 2.7.1 One or more of the projects will require the demolition and clearance,
subject to other restrictions, of certain public improvements within the
Plan Area as provided in this Plan. Such actions may be necessary to
eliminate unsafe conditions, eliminate obsolete and other uses detrimental
to the public welfare, and otherwise remove and prevent the spread of
deterioration.
2.7.2 In order to eliminate or reduce the qualifying conditions currently
existing within the Plan Area, as well as those qualifying conditions
which may be reasonably anticipated to develop within the Plan
Area in the absence of public action, it is the intent of the Town
Council in adopting this Amended Plan that VRA exercise ail
powers authorized to be exercised by VRA under the Urban
Renewal Law and which are necessary, convenient or appropriate
to accomplish the objectives of this Plan. It is the intent of this
Amended Plan that VRA shall exercise all such powers as may now
be possessed or hereafter granted to VRA for the elimination of
qualifying conditions within the Plan Area.
2.7.3 Many properties in the Plan Area are subject to restrictive covenant
provisions from previous subdivisions of property in Vail and Lionshead.
In many cases, the covenant provisions conflict with one another and in
• some cases have been ignored by existing development. These
restrictive covenants create an impediment to the redevelopment of
MUR\58179\432486.01 4
. properties within the Plan Area, particularly the financing of improvements
which are key to the redevelopment of the Plan Area. VRA is authorized
to use the power of eminent domain, with the consultation and
concurrence of the owner of the underlying fee interest, to eliminate
restrictive covenant provisions and other conditions of title which prevent
redevelopment of properties within the Plan Area.
2.7.4 If it becomes necessary for individuals, families or businesses to relocate
as a result of the implementation of this Plan, a feasible method exists for
the relocation of individuals, families, and business concerns that may be
displaced, insuring that decent, safe and sanitary dwelling
accommodations and business locations can be made available.
2.7.5 The powers conferred by the Urban Renewal Law are for public uses and
purposes for which public money may be expended and the police
powers exercised, and this Amended Plan is in the public interest and
necessity, such finding being a matter of legislative determination by the
Town Council.
2.7.6 VRA may, in its discretion, issue bonds, including bonds or other
obligations, to the extent permitted by law.
3. DESCRIPTION OF PLAN OBJECTIVES
• This Amended Plan is an important tool to address the problems confronting the
Lionshead area. The Amended Plan helps to further the goals for the area previously
outlined in the Lionshead Redevelopment Master Plan. The objectives for the Amended
Plan include the following:
• Create a sense of place and an improved aesthetic character for Lionshead for
both residents and guests.
Renovate or redevelop the deteriorated and/or outdated residential and
commercial buildings and provide enhanced amenities.
Enhance the aesthetic appearance of the area to make it more appealing.
Improve pedestrian, bicycle, mass transit and auto accessibility and circulation.
Eliminate impediments to the redevelopment of key facilities with the Plan Area.
Upgrade and restore public infrastructure including transportation facilities,
parking, sidewalks and streetscapes.
4. PLAN IMPLEMENTATION
In order to accomplish the objectives of this Amended Plan and to fully implement this
Plan, VRA shall be authorized to undertake the following activities:
•
MUR\58179\432486.01 Cj
. 4.1 Redevelopment and Rehabilitation Actions
Redevelopment and rehabilitation actions within the Plan Area may include such
undertakings and activities as are in accordance with this Plan, the Lionshead Master
Plan, and the Urban Renewal Law, including without limitation: demolition and removal
of public buildings and improvements as set forth herein; installation, construction and
reconstruction of public improvements as set forth herein; elimination of unhealthful,
unsanitary or unsafe conditions; elimination of obsolete or other uses detrimental to the
public welfare; and other actions to remove or to prevent the spread of deterioration.
VRA is authorized to negotiate and enter into agreements with landowners, developers,
and investors regarding appropriate projects throughout the Plan Area which will
generate incremental property tax revenues.
4.2 Property Acquisition
The principal purpose of this Amended Plan is the rehabilitation and enhancement of
public infrastructure in the Plan Area and the support of new private investment
occurring on private property. Restrictive covenants and other conditions of title interfere
with new private investment. The power of eminent domain as authorized by the Urban
Renewal Law may be utilized as VRA determines necessary to eliminate and remove
restrictive covenants and other conditions of title which interfere with new private
investment with the consultation and concurrence of the owner of the underlying fee
interest.
• 4.3 Relocation Assistance and Payments
In the event it is necessary to relocate or displace any business or other commercial
establishments as a result of any property acquisition, VRA may adopt relocation
policies for payment of relocation expenses. Such expenses may include moving
expenses, actual direct losses of property for business concerns, and goodwill and lost
profits that are reasonably related to relocation of the business, resulting from its
displacement for which reimbursement or compensation is not otherwise made.
4.4 Public Improvements and Facilities
VRA may undertake certain actions which would make the Plan Area more attractive for
private investment by providing public improvements consistent with the Lionshead
Master Plan. These improvements include street and traffic improvements, streetscape
improvements, a transportation center, landscaping, park and recreation facilities, utility
improvements, open space acquisition, stormwater improvements, public art projects,
and other similar improvements necessary to carry out the objectives of the Lionshead
Master Plan.
4.5 Redevelopment Agreements
VRA is authorized to enter into one or more Redevelopment Agreements with
developer(s) and such other entities as are determined by VRA to be necessary or
desirable by VRA to carry out the purposes of this Plan. Such Redevelopment
• Agreements may contain such terms and provisions as shall be deemed necessary or
appropriate by VRA for the purpose of undertaking the activities contemplated by this
Amended Planor the Urban Renewai Law, and may further provide for such
MUR\58179\432486.01 6
undertakings by VRA, including financial assistance, as may be necessary for the
achievement of the objectives of this Amended Planor as may otherwise be authorized
by the Urban Renewal Law.
4.6 Interagency Cooperation
VRA may enter into one or more Cooperation Agreements with the Town of Vail or other
public bodies pursuant to the Urban Renewal Law. Cooperation Agreements may
provide, without limitation, for financing, for construction of public improvements, for
administration, for technical assistance and for other purposes.
4.7 Advisory Committee
VRA shall establish an advisory committee of Lionshead residential and commercial
property owners to advise the VRA on matters related to the implementation of the Plan.
The composition of the committee shall be determined by the VRA.
5. PROJECT FINANCING
5.1 Tax Increment Financing
The primary method of financing the projects undertaken in furtherance of this Amended
Plan shall be the use of property tax increment financing pursuant to
Section 31-25-107(9), C.R.S., which is by this reference incorporated herein as if set
• forth in its entirety. If there is any conflict between the Urban Renewal Law and this
Amended Plan, the provisions of the Urban Renewal Law shall control. All property
taxes collected within the Ptan Area shall be divided as follows:
a) That portion of the taxes which are produced by the levy at the rate
fixed each year by or for each such public body upon the valuation
for assessment of taxable property in the Urban Renewal Area last
certified prior to effective date of the original approval of the Plan or,
as to an area later added to the Urban Renewal Area, the effective
date of the modification of the Plan, shall be paid into the funds of
each such public body as are all other taxes collected by or for said
public body.
b) Except as VRA may legally provide otherwise under the Urban
Renewal Law, the portion of such property in excess of the amounts
described in paragraph a), above, shall be allocated to and, when
collected, paid into a special fund to fund VRA's obligations with
respect to any project within the Plan Area, including payment of the
principal of, the interest on, and any premiums due in connection
with the bonds, loans or advances to, or indebtedness incurred by
(whether funded, refunded, assumed, or otherwise) VRA for
financing or refinancing, in whole or in part, the projects in the Plan
Area.
• c) When such bonds, loans, advances, and indebtedness, if any,
including interest thereon and any premiums due in connection
MUTt\58179\432486.01 7
• therewith, have been paid, but in no event later than 25 years
following the adoption of this Amended Plan for the construction of
the projects' improvements, any excess property tax collections not
allocated pursuant to this paragraph or any Cooperation Agreement
between VRA and Town or other taxing jurisdiction, shall be paid into
the funds of said jurisdiction or public body. Unless and until the total
property tax collections in the Plan Area exceed the base year
property tax collections in the Plan Area, as provided in
paragraph a), above, all such property tax collections shall be paid
into the funds of the appropriate public body. VRA reserves the right
to enter into Cooperation Agreements with select taxing jurisdictions
relative to allocation of incremental tax revenues.
d) The adoption of this Amended Plan shall be deemed an adoption of
a provision that taxes, if any, levied after the effective date of the
approval of this Amended Plan upon taxable property in the Plan
Area shall be divided among VRA and various taxing entities for a
period of 25 years thereafter or such lesser period as provided in
Section 31-25-107(9), C.R.S., as exists on the date hereof, or in any
Cooperation Agreement between VRA and a county, the Town or a
special district.
5.2 Additional Taxing Entities
• VRA recognizes that tax increment financing is the primary tool for funding
redevelopment activities. However, Colorado law allows the creation of additional
political subdivisions within a municipality to provide services within a defined area.
These entities include metropolitan and other special districts as well as business
improvement districts. These districts have available certain taxing powers that can
generate revenues in addition to those generated by tax increment financing.
VRA is committed to exploring a variety of strategies and mechanisms to complement
tax increment financing. VRA recognizes that it is imperative that financing mechanisms
be flexible and creative to provide necessary assistance to a broad range of
redevelopment activities.
5.3 Participating Interest in Projects
VRA may require a participating interest in private development projects for which it
provides financial assistance. Public assistance is frequently needed for redevelopment
projects in order to fill the gap between traditional equity and debt financing and the
additional costs of a redevelopment project. In the event the project generates revenues
at or greater than market return, the public should share in the success of the project.
The terms of the participating interest will be specified in the Redevelopment Agreement
at a level and on terms appropriate for each project.
6. MODIFICATIONS TO THIS PLAN
This Amended Plan may be amended or modified pursuant to provision of the Urban
• Renewal Law as provided in § 31-25-107, C.R.S. Modifications to this Amended Plan
will require appropriate notification in accordance with the Urban Renewal Law, including
MUR\58179\432486.01
8
submission to the Board of County Commissioners of Eagle County and written notice
provided to all property owners, residents, and owners of businesses in the Plan Area
not less than 30 days prior to the consideration of a substantial modification in
accordance with C.R.S. 31-25-107 (4)(c).
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MUR\58179\432486.01
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RESOLUTION NO. #10
Series of 2005
A RESOLUTION EXPRESSING RESPECT AND ADMIRATION FOR THE HARD WORK
BETTY FORD HAS CONTRIBUTED TO THE TOWN OF VAIL.
Whereas, Betty Ford was the First Lady of the United States at a time of great crisis
for our country.
Whereas, Betty Ford is the recipient of many awards and honors including the
Presidential Medal of Freedom.
Whereas, President and Mrs. Ford made one of their first homes in Vail, making it
their summer White House, bringing great attention and publicity to our
Valley.
Whereas, Betty Ford worked diligently with many locals to make women more
aware of the dangers of breast cancer and the need for periodic check-
ups.
Whereas, Betty Ford was instrumental in establishing the Vail International Dance
Festival as a premier attraction in our community.
Whereas, Betty Ford worked tirelessly to help people suffering from alcohol and
drug addiction.
Whereas, Betty Ford was Vail's extraordinary hostess for heads of state and visiting
dignitaries from around the world at the World Forum.
Whereas, Betty Ford was instrumental in launching the Betty Ford Alpine Gardens,
the world's highest alpine garden which protects and displays over 3,000
varieties of rare and endangered flora to visitors from around the world.
Whereas, Betty Ford has been our dear friend and open hearted neighbor for many
years.
INTRODUCED, READ, APPROVED AND ADOPTED this 21st day of
June, 2005.
__L~ 1
Rodney Slifer,`
Mayor, Town of Vail
ATTE ~:
.,~ ~ OF OVA/~.•
~, `~~~~~
O'
1.erfelei Donaldson, ~ ? 5~,~+~'
Town Clerk, Town of Vail
'•.
'••......• Qy-
CO~-O
RESOLUTION NO. 12
Series of 2005
A RESOLUTION APPROVING THE AMENDMENT TO CORE SITE
DEVELOPMENT AGREEMENT (THE "AMENDMENT") AMONG THE
TOWN OF VAIL (THE "TOWN"), VAIL REINVESTMENT AUTHORITY
(THE "AUTHORITY"), AND THE VAIL CORPORATION, D!B/A VAIL
ASSOCIATES, INC., A COLORADO CORPORATION ("VAIL
ASSOCIATES"), WHICH AMENDMENT PERTAINS TO CERTAIN
RESPECTIVE RIGHTS AND RESPONSIBILITIES OF THE TOWN, THE
AUTHORITY AND VAIL ASSOCIATES IN RELATION TO THE CORE SITE
DEVELOPMENT PROPOSED TO BE UNDERTAKEN BY VAIL
ASSOCIATES AND AFFILIATES
WHEREAS, the Town, Vail Associates and the Authority are parties to that
certain Core Site Development Agreement dated November 8, 2004, and pertaining to the
development of the "Core Site Project" defined therein (the "Devel~y~~~ent Agreement"); and
WHEREAS, the Town, acting through its applicable departments and agencies
(including the Director of Public Works), and Vail Associates, in furtherance of implementing
the Core Site Project, as the owner and developer of the Core Site Project, have determined to
modify and supplement the Development Agreement pursuant to the terms and conditions of an
Amendment to Core Site Development Agreement that has been negotiated among the parties
(the "Amendment"); and
WHEREAS, the approval of the Amendment is necessary and proper for the
health, safety and welfare of the Town and its inhabitants; and
WHEREAS, the Amendment complies with all applicable laws and regulations of
the State of Colorado and the Town, and the Town has the authority to enter into the Amendment
pursuant to such laws.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE
TOWN OF VAIL, COLORADO as follows:
Section 1.
The Amendment is hereby approved, and the Town shall enter into the Amendment and perform,
observe and discharge its obligations under the Amendment. The Town Manager is hereby
authorized and directed to execute and deliver the Amendment, on behalf of the Town, with such
terms and provisions as the Town Manager, after consultation with the Town Attorney, considers
to be necessary or appropriate in furtherance of this Resolution.
U
Resolution No. 12, Series of 2005
• Section 2.
The Town Council hereby finds, determines and declares that this Resolution is necessary and
proper for the health, safety and welfare of the Town of Vail and the inhabitants thereof.
INTRODUCED, READ, APPROVED AND ADOPTED this 19th day of July,
2005.
,~pW N O,c
•:9.
;~ SEAL ~ Richard Clevelar~~, ~
Mayor Pro-tem, Town of Vail
ATTEST:
~-"C
orel Donaldson, .
Town Clerk, Town of Vail
•
•
Resolution No. 12, Series of 2005 2
• AMENDMENT TO CORE SITE DEVELOPMENT AGREEMENT
THI5 AMENDMENT TO COR~ SITE DEVELOPMENT AGREEMENT (this
"Amendment") is made effective as of the 1 q day of Q , 2005, by and between the
TOWN OF VAIL, a municipal corporation duly organizeld~mid b~cisting under and by virtue of
the laws of the State of Colorado (the "Town"), VAIL REINVESTMENT AUTHORITY, a body
corporate duly organized and existing as an urban renewal authority under the laws of the State
of Colorado (the "Authority"), and THE VAIL CORPORATION, D/B/A VAIL ASSOCIATES,
INC., a Colorado corporation ("Vail Associates").
RECITALS:
A. The Town, the Authority and Vail Associates are the parties to that certain
Core Site Development Agreement dated as of November 8, 2004 (the "Development
Agreement"). Initially capitalized terms used but not defined in this Amendment shall have the
meanings ascribed thereto under the provisions of the Development Agreement.
B. The parties have mutually determined to modify and supplement the
provisions of the Development Agreement in certain respects, as set forth in and in accordance
with the provisions of this Amendment.
NOW, THEREFORE, in consideration of the above premises and the mutual
• covenants and agreements set forth herein, the parties agree as follows:
1. Acceptance of Easement Dedications. In connection with the Core Site
Project, the Town has received or will receive various easement grants, made expressly as public
dedications and recorded or to be recorded in the real property records for Eagle County,
Colorado (the "Records"), from Vail Associates and various other parties with interests as
adjacent owners or adjacent governing owners' associations, for purposes pertaining to specified
utilities and/or storm drainage, or access ways, streetscaping and other surface improvements.
Those easement grants made and to be made are identified on Exhibit A hereto (collectively, the
"Public Easements"). The Town hereby agrees that effective upon execution and delivery by
The Town Manager, or upon the final written confirmation of the Town Manager, as applicable
pursuant to paragraph 5 below, the Town accepts the public dedication under the grant of each
Public Easement, for the use of the public, including the use of vehicular and pedestrian ways for
public access purposes. This acceptance will be subject to and without limitation upon the terms
of the grants under the Public Easements themselves, and furthermore will not be construed to
limit the applicable construction warranty obligations of Vail Associates under the Development
Agreement for the improvements and facilities installed by or through Vail Associates in the
applicable easement areas.
2. Desisnation of Vail Associates.
(a) The various Public Easements provide in part that they may be
used and enjoyed by the Town and its designees or invitees. In furtherance of the
• completion of the Core Site Project, the Town hereby designates Vail Associates,
6~i376.7 RCF[SH
• together with its designees and affiliates and any metropolitan district formed with
jurisdiction over the pertinent easement areas, and the contractors and agents of Vail
Associates or any such designees, affiliates, or metropolitan districts, and subcontractors
and other parties engaged by, through or under any of them (collectively the
"Designees"), to act as the Town's designees and/or invitees under the Public Easements
for purposes of the construction and installation of the following improvements and
work, together with any related construction warranty work or subsequent repairs,
maintenance or replacements for which Vail Associates or any such Designees may
otherwise be obligated:
(i) The Off-Site Streetscape Improvements;
(ii) The Lionshead Place Improvements;
(iii) All equipment, facilities and improvements for or related to
sanitary sewer, water, gas, electric, telecommunications and other utility services,
and also storm drainage, as the same are to be installed in connection with the
Core Site Project in accordance with the plans and specifications for the Core Site
Project approved by the Town, and otherwise in accordance with the ordinary,
generally applicable utility and storm drainage regulations and practices of the
Town and the pertinent utility suppliers (collectively the "Utilities
Improvements"). The designation under this pazagraph 2(a) will also extend to
• the applicable utilities suppliers, and their contractors and agents, and any
subcontractors and other parties engaged by, through or under any of them (all of
which parties shall be regarded as included within the "Designees"), to the extent
any such utility supplier undertakes the installation of or other work pertaining to
any Utilities Improvements; and
(iv) Any other work of improvement within the applicable
easement areas provided or required for the Core Site Project under applicable
"Development Approvals," as hereinafter defined ("Core Improvements").
(b) The Town further grants Vail Associates and the applicable
utilities suppliers and the other Designees an irrevocable license, coupled with an interest
and non-terminable, to construct and install those portions of the Off-Site Streetscape
Improvements, Utilities Improvements, Lionshead Place Improvements and any other
Core Improvements that are to be located within properties owned by the Town. Those
parties are further authorized to enter those r,~.rerties and undertake therein any related
construction warranty work or subsequent repairs, maintenance or replacements for
which Vail Associates may otherwise be obligated and which pertain to the Core
Improvements that remain in place from time to time, with Vail Associates' obligations
in this regard being conditioned on the effectiveness of this authorization or other
authorization provided by the Town for allowing timely entry. The subject r~.,Yerties of
the Town specifically include, without limitation, those utility and drainage easement
areas established or to be established by the Town pursuant to recorded declarations of
• public easement dedications that are identified on Exhibit B attached hereto; Vail
644376.7 RCFlSH 2
. Associates and the other Designees are hereby made express beneficiaries of those
easements for undertaking the applicable work.
(c) Vail Associates will indemnify and defend the Town from and
against any and all liabilities to third parties, including those pertaining to any personal
injury or physical damage to property, which may be imposed upon or incurred by the
Town and which arise from and are caused by the use and enjoyment by, through or
under Vail Associates of any of the license rights granted under paragraph 2(b) above,
together with all costs and expenses, including reasonable attorneys' fees, that the Town
may incur in connection with any such indemnified liability. In any case this indemnity
shall not apply, however, to any liabilities to the extent attributable to any negligence,
willful misconduct or other breach of any legal duty by the Town or its contractors or
agents; in addition, this indemnity shall be applied in accordance with generally
prevailing laws governing contract rights, remedies and liabilities.
3. Utilities and Snowmelt Undertakinss.
(a) Notwithstanding the provisions of pazagraph 5(c) of the
Development Agreement, the parties acknowledge that the snowmelt facilities within the
Off-Site Streetscape Improvements (the "Off-Site Snowmelt Facilities") will connect to
and be served by the same common boiler(s) and heat source facilities that serve
snowmelt facilities within the On-Site Streetscape Improvements and/or the Lionshead
Place Improvements, as well as building and other improvements within the Core Site
• Project (the "Central Heat Facilities"), and the Town will not have separate heat source
facilities for the Off-Site Streetscape Improvements. In that regazd:
(i) The utility charges incurred in so providing heat to the Off-
Site Snowmelt Facilities will be separately metered, and the Town will be solely
responsible far paying the utility charges incurred. The Town will also bear its
proportionate share of the costs incurred by Vail Associates from time to time to
maintain, repair and replace the Central Heat Facilities in the ordinary course of
Core Site Project operations (the "Central Snowmelt Costs"), with the Town's
proportionate share to be based on the relative utilities consumption for the Off-
Site Snowmelt Facilities in comparison to such consumption incurred for the
snowmelt facilities within the On-Site Streetscape Improvements and the
Lionshead Place L.~~~~ cements, and building and other improvements served
thereby. The amount of the Central Snowmelt Costs and their apportionment
between Vail Associates and the Town shall be determined in accordance with the
ordinary accounting and management practices prevailing fi.,~~, time to time in
connection with the Core Site Project. Vail Associates agrees that it shall provide
maintenance, repairs and replacements for the Central Heat Facilities (or any
substitutions thereof) as necessary to keep the same in good operating condition,
and operate the same in accordance with its ordinary business practices to furnish
snowmelt capacity for the Off-Site Snowmelt Facilities, provided such capacity
shall be materially consistent with the general operating standards presently
maintained for other public properties of the Town served by mechanical
644376.7 RCFiSH 3
• snowmelt systems. The Town will provide maintenance, repairs and
replacements for the Off-Site snowmelt Facilities as part of its maintenance
obligations for the Off-Site Streetscape Improvements under the Development
Agreement.
(ii) The Town's proportionate share of Central snowmelt Costs
will be billed and invoiced to the Town fi.,~~~ time to time, but no more frequently
than once in any calendaz month, and each payment owing from the Town will be
due and payable within thirty (30) days after notice thereof. If any such payment
owing from the Town is not made when due, it shall thereafter beaz interest until
paid at an annual interest rate equal to one percent (1 %) plus the prime interest
rate published from time to time by The Wall Street Journal. At any time that any
such payment is delinquent, i.e., remains unpaid after its due date, Vail Associates
at its election may suspend the provision of heating services to the Off-Site
snowmelt Facilities until the pertinent delinquency and all interest accrued
thereon are paid in full, provided Vail Associates must first give the Town an
additiona130 days' notice of the pending suspension of services upon or after the
occurrence of the delinquency. This right of suspension will be cumulative with
and without limitation upon other rights or remedies available at law or equity for
enforcement of any delinquency, including, without limitation, an appropriate
collection action.
• (iii) The parties specifically acknowledge that the Off-Site
snowmelt Facilities will encompass and include certain snowmelt facilities (the
"Lionshead Centre snowmelt Facilities") located or to be located within and
serving the condominium property (the "Lionshead Centre Property") governed
by Lionshead Centre Condominium Association (the "Lionshead Centre
Association"), and that the Lionshead Centre Property will receive snowmelt
services pursuant to a certain Construction Agreement and Easement made or to
be made between Vail Associates and Lionshead Centre Association (the
"Lionshead Centre Agreement"). The Lionshead Centre snowmelt Facilities will
be regazded as part of the Off-Site snowmelt Facilities for all purposes. Effective
upon the final written confirmation of the Town Manager pursuant to paragraph 5
below, the Town assumes the obligations under the Lionshead Centre Agreement
for maintaining, repairing, replacing and operating the Lionshead Centre
snowmelt Facilities (except to the extent the same fall within Vail Associates'
construction warranty obligations), and shall bear and dischazge all liabilities
associated therewith. Effective upon the rendering of that final written
confirmation, Vail Associates assigns to the Town (i) the easement rights under
the Lionshead Centre Agreement to enter the Lionshead Centre Property for
performing these assumed obligations (this assignment being non-exclusive, with
Vail Associates retaining the right to use and enjoy the easement rights under the
Lionshead Centre Agreement), and (ii) all rights to receive, under the terms of the
Lionshead Centre Agreement, reimbursements from the Lionshead Centre
Association for Central snowmelt Costs which have been reimbursed by the
• Town to Vail Associates in the first instance, and for costs associated with the
644376.7 RCFlSH `*
maintenance, repair, replacement and operation of the Lionshead Centre
Snowmelt Facilities that the Town incurs.
(iv) The parties agree that the boundary between Off-Site
Streetscape Improvements and the Lionshead Place Improvements, including,
without limitation, the allocation of snowmelt facilities between the two, shall be
in material conformity with the depiction of that division attached as Exhibit C
hereto. In addition, the parties mutually confirm that (i) the skating rink area and
facility within the Core Site Project will constitute part of the On-Site Streetscape
Improvements, and (ii) the Lionshead Place Improvements will encompass and
include right-of--way, streetscape and related improvements which, pursuant to the
Development Approvals and as part of the Core Site Project, are constructed or
installed within the Lionshead Place right-of--way and adjacent areas owned by
the Town in Tracts A and E, VaiULionshead Third Filing, according to the
recorded plat thereof, as well as within the applicable easement azeas adjacent to
the Lionshead Place right-of--way established under the applicable easement
dedications to the Town, as set forth on Exhibit A hereto, from Lion Square
Condominium Association, Inc., Lion Square Phase II and III Condominium
Association, Inc., Lion Square North Condominium Association, Inc., and Antlers
Condominium Association, Inc. The On-Site Streetscape Improvements may be
owned from time to time in whole or part by any Metropolitan District, any owner
of the Core Site Project or any portion thereof, or any other public or private
• entity.
(b) Vail Associates covenants and agrees that it shall complete or
cause the applicable utilities suppliers to complete the Utilities Improvements in
connection with and as part of the Core Site Project. The completion of the Utilities
Improvements that will be publicly dedicated to the Town (i. e., storm drainage) will be
subject to the same warranty, guarantee and other provisions governing the On-Site
Streetscape Improvements, the Off-Site Streetscape Improvements, and the Lionshead
Place Improvements that aze set forth in paragraph 5 of the Development Agreement; for
other Utilities Improvements, Vail Associates will be obligated to satisfy any warranty
requirements of the applicable utility supplier. However, notwithstanding any provisions
to the contrary under the foregoing, all maintenance, repairs and replacements of Utilities
Improvements following their initial completion will be solely the obligation of the Town
or the pertinent utility supplier, as applicable, except that (i) Vail Associates will remain
liable for. its applicable construction warranty obligations, for any maintenance
obligations to which Vail Associates otherwise agrees in writing, and for any
maintenance obligations lawfully imposed upon Vail Associates by any applicable utility
supplier other than the Town, and (ii) any utility improvements in the nature of private
connections serving individual properties shall be the responsibility of the pertinent
owner to maintain. Furthermore, to the extent any maintenance, repairs or replacements
for the Utilities Improvements conducted by or through the Town or other applicable
utility supplier also necessitate maintenance, ~ repairs or replacements of On-Site
5treetscape Improvements or Lionshead Place Improvements which aze damaged or
• disturbed as a result thereof, the Town or pertinent utilities supplier, as applicable, will
644376.7 RCF[SH 5
• undertake the maintenance, repairs or replacements of the On-Site Streetscape
Improvements or Lionshead Place Improvements that are so damaged or disturbed,
except to the extent otherwise agreed in writing by Vail Associates for any applicable
utility supplier. The Town shall cause the applicable utilities suppliers to conform to the
foregoing provisions.
(c) Notwithstanding any provisions of the Development Agreement to
the contrary, Vail Associates and its successors in interest in the Core Site Project will
not have any liability or responsibility for maintenance, repairs or replacements of any
Lionshead Place Improvements to the extent that Vail Associates or its successors secure
any covenant or agreement of any adjacent owner or governing owners' association to
undertake any such maintenance, repairs or replacements, and the applicable owner or
owners' association will become solely responsible for the maintenance, repairs or
replacements so undertaken and will be regarded as included within the Designees. The
foregoing will not be construed, however, to limit Vail Associates' applicable
construction warranty obligations.
(d) The rights and obligations of Vail Associates in connection with
operations, maintenance, repairs or replacements under this paragraph 3 will be
assignable and maybe delegated, in whole or in part, in accordance with pazagraph 14 of
the Development Agreement, and as provided therein, Vail Associates will be relieved of
any further liability for any obligations so assigned.
• (e) In connection with paragraph 4(b)(i) of the Development
Agreement:
(i) The Town agrees that pursuant to and as partial dischazge
of its obligations under that pazagraph 4(b)(i), the Town will grant by declazation
a public utility and drainage easement of a general nature over the entirety of the
Town's ownerships in Tract C, Lionshead Sixth Filing, according to the recorded
plat thereof heretofore or hereafter recorded (which shall be "Tract C" for
purposes of this Amendment). Under that easement the Town will retain the same
regulatory rights and powers as are applicable to the use of public easements in
Town rights-of--way. The Town will further grant by declaration anon-exclusive
public access easement over its ownerships in Tract C for pedestrian and
emergency vehicle use, and also make the other easement dedications and grants
for utility, access and construction purposes which, along with the foregoing, are
identified on Exhibit B hereto. The foregoing grants under this pazagraph (i) will
be made pursuant to paragraph 5 below.
(ii) Pursuant to Ordinance No. 8, Series of 2005, the Town is
undertaking to terminate certain pre-existing public utility and drainage easements
established under Vail/Lionshead First Filing and VaiULionshead Third Filing,
according to the recorded plats thereof, in connection with the plat of Lionshead
Sixth Filing. The Town agrees that it will confirm the termination of the
. applicable easements when the applicable termination conditions under Ordinance
644376.7 RCFISH 6
• No. 8 have been satisfied, and that upon such satisfaction the Town will also
process and adopt an amended and restated version of Lionshead Sixth Filing that
will clearly reflect of record the termination of the pertinent easements.
(iii) The Town and Vail Associates mutually acknowledge that
they collectively own all record interests, and the benefited and burdened real
properties, under the "Termination Agreements" defined below, and that the
Termination Agreements aze now obsolete, pertain to real estate improvements
that either have not and are not to be undertaken or have been abandoned, confer
no benefit on either party, and create an unwarranted cloud on title; accordingly,
Vail Associates and the Town mutually agree to make and record in the real
property records for Eagle County, Colorado, a termination and release of the
Termination Agreements. The "Termination Agreements" aze constituted by
(A) the Easement Agreement recorded August 25, 1972, in Book 225 at Page 183,
(B) the Agreement. recorded December 5, 1978, in Book 279 at Page 340, and
(C) the Easement Agreement recorded February 21, 1984, in Book 378 at Page
915, all such recordings being in the real property records for Eagle County,
Colorado.
4. Licenses. The Town acknowledges that the Core Site Design Approvals,
as the same have been and may be further amended or supplemented in connection with the
Town's development process by additional development and construction plans and otherwise
• (collectively the "Development Approvals"), provide for certain balconies and other overhangs,
foundation footings and other improvements that encroach (the "Core Encroachments") into
Tract C. In addition, the Core Site Design Approvals also provide for (i) a vehicular/pedestrian
access way constituting part of the Core Site Project (the "Tract C Access Way") that crosses a
segment of Tract C adjacent to the westerly boundary of the Core Site Project and
(ii) underground access tunnel improvements constituting part of the Core Site Project that
extend fi.,~~~ the Core Site into the right-of--way of Lionshead Place (the "Tunnel
Improvements"). The Town agrees that it shall grant, without further action by Town Council, to
Vail Associates and its successors in interest, as a benefiting appurtenance to the Core Site, one
or more irrevocable licenses, coupled with an interest and non-terminable, permitting the
construction, installation, modification, replacement, maintenance, repair, use and enjoyment of
the improvements causing the Core Encroachments and also of the Tract C Access Way and the
Tunnel Improvements, as the same have been and may be approved from time to time by the
Town pursuant to its devel~YY..ent processes. A pending license grant for these purposes is
identified on Exhibit B hereto.
5. Implementation and Acceptance of Grants. The Town hereby authorizes
the Town Manager, in consultation with the Town Attorney, to execute and deliver, on behalf of
the Town and on terms acceptable to the Town Manager, such easements and license agreements
and other documents and instruments with or for the benefit of Vail Associates as may be
necessary or appropriate to establish and effectuate the easement and license grants from the
Town and the termination of the Termination Agreements provided for under pazagraphs 3 and 4
• above, and also any Public Easement grants to which the Town is a signatory party. In addition,
the other Public Easements and the Lionshead Centre Agreement, as it pertains to the Lionshead
644376.7 RCFlSH 7
• Centre Snowmelt Facilities, are to be on terms determined to be acceptable by the Town
Manager, in consultation with the Town Attorney, and upon that determination being completed,
the Town Manager will execute a written confirmation thereof, in form reasonably satisfactory to
Vail Associates, for recording in the real property records for Eagle County, Colorado.
6. Pazking Investment. The Town and Vail Associates aze parties to that
certain Parking Capital Investment Agreement dated as of November 8, 2004, under which Vail
Associates, pursuant to requirements and conditions of Town approvals for developing the "Gore
Creek Project" referenced therein, made certain contractual undertakings to invest the sum of
$4,300,000 in additional public parking facilities within the Town that the Town may develop
(the "Parking Agreement"). The Town and Vail Associates have now mutually determined that
it is more appropriate to allocate and attribute the pazking investment obligation under the
Parking Agreement to the Core Site Project in lieu of the Gore Creek Project. Accordingly, the
Town and Vail Associates mutually agree to make an amended and restated pazking capital
investment agreement which will supersede the existing Parking Agreement and will be made
upon substantially the same terms as those set forth in the Pazking Agreement, except that the
amended and restated agreement shall be predicated upon Town conditions and requirements for
the Core Site Project, in lieu of the Gore Creek Project. The existing Pazking Agreement will be
expressly superseded by the amended and restated agreement. The capital investment
obligations under the amended and restated agreement will constitute the personal obligation of
Vail Associates and will not run with the ownership of the Core Site Project, and
correspondingly will not be conditioned upon the undertaking of the Core Site Project.
• 7. Annroval: Further Action. This Amendment shall not become effective
until the Town Council's adoption and arr.wal of this Amendment by resolution. As part of
that resolution, the Town Council will designate and authorize the Town Manager to execute and
deliver this Amendment on behalf of the Town. The effective date of this Amendment shall be
the date upon which this Amendment has been executed and delivered by Vail Associates and so
executed and delivered as set forth above by the Town Manager. Furthermore, upon this
Amendment becoming effective, the Town Manager will be further authorized to execute all
documents and instruments on behalf of the Town, without further action of Town Council, in
furtherance of executing and discharging the terms and provisions of this Amendment, provided
such documents and instruments aze not materially inconsistent with the terms of this
Amendment, or constitute only a minor change to the terms of this Amendment or the
Devel..r.~.ent Agreement as determined in accordance with pazagraph 22 of the Development
Agreement.
8. Effect of Amendment. Except as modified hereby, the Development
Agreement shall remain in full force and effect in accordance with its stated provisions. In the
event of any conflict or inconsistency between the provisions of this Amendment and the
provisions of the Development Agreement, the provisions of this Amendment shall be
controlling. The terms of this Amendment shall be int:,,Y.eted and given force and effect in
accordance with the non-conflicting provisions of the Devel..r.~aent Agreement, which shall be
applied to the terms and provisions of this Amendment as if this Amendment were a part of the
• Development Agreement in the first instance. The terms of this Amendment will not be
644376.7 RCFISH O
• construed to limit the effect of any conditions to Closing under the Development Agreement
which presently remain unsatisfied. .
9. Counteroarts. This Amendment may be executed in counterparts, each of
which shall constitute an original, and which together shall constitute one and the same
agreement.
10. Recording. Like the Development Agreement, this Amendment shall be
recorded in the Records.
11. Exhibits. Exhibits referenced under the other provisions hereof as being
attached hereto are incorporated herein by this reference and made a part hereof.
[Balance of page intentionally left blank.)
•
644376.7 RCFISH 9
•
IN WITNESS WHEREOF, the Town, the Authority and Vail Associates have
made this Amendment to Core Site Devel..r~..ent Agreement as of the day, month and yeaz first
above written.
s 1 ;.......;~ `~
.• •.
••9i
.f
EA
L=
•
TOWN:
TOWN OF VAIL, a municipal corporation duly
organized and existing by virtue of the laws of the
State of Colorado
By:
Name: S~~cf Semler
Title: Town Manager
ATTE
~elei onaldson, own Clerk
STATE OF COLORADO )
ss.
COUNTY OF EAGLE )
The foregoing instrument was acknowledged before me this ~~day of
2005, by 5t'a n Ze ~ le r2 , as Town Manager of the
n of ail, a municipal corporation duly organized and existing by virtue of the laws of the
ate of Colorado.
Witness my hand and official seal.
expires: ~ ~~~ aS' aov ~
~ MARY ANN ~~ x Ufil(.e Cl~/h~iGir ~~n
GRAfiAM-BEST
Not blic
~T~,~4~ ~~~ti
[Signature blocks continue on following pages)
•
644376.7 RCFTSH 10
STATE OF COLORADO )
ss.
COUNTY OF EAGLE )
VAIL ASSOCIATES:
THE VAIL CORPORATION, D/B/A VAIL
ASSOCIATES, INC., a Colorado corporation
By:
Name:
Title:
The foregoing instrument was acknowledged before me this
2005, by , as
of The Vail Corporation d/b/a Vail Associates, Inc., a Colorado corporation.
Witness my hand and official seal.
•
Notary Public
[Signature blocks continue on following pages)
C,
My Commission expires:
644376.7 RCFISH
11
day of
•
VAIL REINVESTMENT AUTI30RITY:
VAIL REINVESTMENT AUTHORITY, a body
~ A14-H~, corporate duly organized and existing as an urban
•......~
~,•• ••~ renewal authority under the laws of the State of
• Colorado
. .
r • :'~
• ~:: ~ -~ ~
... ., • ,~
•
•
`•
Name: S an Zemler
Title: Executive Director
C7
STATE OF COLORADO )
ss.
COUNTY OF EAGLE )
The foregoing instrument was acknowledged before me this ` day of
2005, by~fa~, Zen/ei2 , as ~.sr~~,(~~~e ~decl~,~
of ail reinvestment Authority, a body corporate duly organized and existing as an urban
renewal authority under the laws of the State of Colorado
Witness my hand and official seal.
ion expires: ~T ~~lc~ ~`r~, oZDd (~
A
s' ~~ ;y~q~Y ANN ~ ' ^
~~AHA+~--gE57
~~ Nota~y P is
[Signature blocks continue on following pages)
•
644376.7 RCF7SH
12
• EXHIBIT A
(Easement Dedications to be Accepted by the Town of Vail)
GRANTOR CODE
LION SQUARE PHASE II AND III CONDOMINIUM 6. DR1-LS-II&III
ASSOCIATION, INC., a Colorado nonprofit corporation
LION SQUARE NORTH CONDOMINIUM 11. H_A1 & 12. H_A2 LSN
ASSOCIATION, INC., a Colorado nonprofit corporation
LION SQUARE PHASE II AND III CONDOMINIUM 13B. H_A3B LSII&III
ASSOCIATION, INC., a Colorado nonprofit corporation
LION SQUARE CONDOMINIUM ASSOCIATION, 14. H_A4 & 15. H_AS LSC
INC., a Colorado nonprofit corporation
THE VAIL CORPORATION, a Colorado corporation, dba 20. VR H_A1 & 21. VR H_AZ
Vail Associates, Inc.
• LION SQUARE NORTH CONDOMINIUM 23. WS 1-BG LSN
ASSOCIATION, INC., a Colorado nonprofit corporation
LION SQUARE NORTH CONDOMINIUM 24. WS2-AG LSN
ASSOCIATION, INC., a Colorado nonprofit corporation
THE VAIL CORPORATION, a Colorado corporation 25. WS1-AG VR
d/b/a Vail Associates, Inc.
ANTLERS CONDOMINIUM ASSOCIATION, INC., a 28. Antlers DR
Colorado non-profit corporation
ANTLERS CONDOMINIUM ASSOCIATION, INC., a 29. Antlers HA
Colorado non-profit corporation
ANTLERS CONDOMINIUM ASSOCIATION, INC., a 30. Antlers W1
Colorado non-profit corporation
ROBERT T. LAZIER and DIANE J. LAZIER 34. Lazier DR-UTIL
•
bsas~e.~ xcFtsx A-1
B
• GRANTOR CODE
LANDMARK-NAIL CONDOMINIUM ASSOCIATION, 37. Landmazk DR
INC., a Colorado non-profit corporation
THE LIFT HOUSE CONDOMINIUM ASSOCIATION, 40. Lift House DR
INC., a Colorado non-profit corporation
LIONSHEAD ARCADE BUILDING CONDOMINIUM 41. Arcade DR
ASSOCIATION, a Colorado non-profit corporation
LANDMARK-NAIL CONDOMINIUM ASSOCIATION, 42. Landmazk Mall
INC., a Colorado non-profit corporation
THE LLFT HOUSE CONDOMINIUM ASSOCIATION, 43. Lift House Mall
INC., a Colorado non-profit corporation
LIONSHEAD ARCADE BUILDING CONDOMINIUM 44. Arcade Mall
ASSOCIATION, a Colorado non-profit corporation
• ROBERT T. LAZIER and DIANE J. LAZIER 45. Lazier Mall
NAIL 21 CONDOMINIUM ASSOCIATION, INC., a 46. Vai121 Mall
Colorado non-profit corporation
NAIL LIONSHEAD CENTRE CONDOMINIUM 47. VLC Mall
ASSOCIATION, a Colorado non-profit corporation
THE NAIL CORPORATION, a Colorado corporation, dba 52. TRACT A 1 ST FIL UTIL
Vail Associates, Inc.
THE NAIL CORPORATION, a Colorado corporation, dba SSA. TRACT B VR UTIL
Vail Associates, Inc.
THE NAIL CORPORATION, a Colorado corporation, dba 56. TRACT C DR-UTIL
Vail Associates, Inc.
THE NAIL CORPORATION, DB/A NAIL 57. TRACT G-DR-UTIL
ASSOCIATES, INC., a Colorado corporation
•
644376.7 RCFlSH A-2
• GRANTOR CODE
THE VAIL CORPORATION, a Colorado corporation, 59, 60 & 63. TRACTS C, D
d/b/a Vail Associates, Inc. & B DR
THE VAIL CORPORATION, a Colorado corporation, dba 64 & 65. TRACTS C & D
Vail Associates, Inc. DUCT
THE VAIL CORPORATION, a Colorado corporation, dba 66. TRACT B FIL 1 UTIL
Vail Associates, Inc. 67. TRACT B FIL 2 UTIL
THE VAIL CORPORATION, a Colorado corporation, dba 68. TRACT D UTIL
Vail Associates, Inc.
THE VAIL CORPORATION, a Colorado corporation, dba 69. TRACT X UTIL
Vail Associates, Inc.
THE VAIL CORPORATION, a Colorado corporation, dba 70. REPLA i i ~D LOT 1 HC
Vail Associates, Inc.
• THE VAIL CORPORATION, a Colorado corporation, dba 71. TRACT D PHONE
Vail Associates, Inc. 72. TRACT C PHONE
THE VAIL CORPORATION, DB/A VAIL 73. TRACT A 1 sT FIL PATH
ASSOCIATES, INC., a Colorado corporation
THE VAIL CORPORATION, a Colorado corporation, dba 77. TRACT D EX-GAS
Vail Associates, Inc.
THE VAIL CORPORATION, a Colorado corporation, dba 82. TRACT G TOWN
Vail Associates, Inc. (this easement is not to be a public ACCESS
dedication, but is to be subject to Town acceptance in
conjunction with and as if part of the Public Easements)
THE VAIL CORPORATION, a Colorado corporation, dba 83. PUBLIC TURNAROUND
Vail Associates, Inc. ACCESS
r~
644376.7 RCFISH A-3
GRANTOR CODE
THE VAIL CORPORATION, a Colorado corporation, dba 84. COURTYARD
Vail Associates, Inc. PEDESTRIAN ACCESS
The foregoing numbered codes or a variant thereof will appear on
the face of each recorded easement.
•
644376.7 RCF[SH A'4
• EI~usIT B
Declarations by Town of Vail of Public Easement Dedications
53. TRACT B 1sT FIL-UTIL
54. TRACT A 3RD FIL-UTIL
80. TRACT C-ACCESS
81. TRACT C -DR and UTIL
Other Town Easement Grants
31. ANTLERS-GAS [to Antlers Condominium Association, Inc.]
74. TRACT A 3RD FIL TUNNEL [to Vail Associates, Lion Square Condominium
Association, Inc., Lion Square Phase II and III Condominium Association, Inc., and
Lion Square North Condominium Association, Inc.]
75. TRACT A 3RD FIL ROAD
76. TRACT E 3RD FIL ROAD [a combined grant to Vail Associates, Lion Square
Condominium Association, Inc., Lion Square Phase II and III Condominium
Association, Inc., and Lion Square North Condominium Association, Inc.]
78. TRACT A 3RD FIL & TRACT B 1sT FIL Access [to Vail Associates]
79. TRACT C SH [to Vail Associates]
Pending License Grant Under Paragrauh 4-
90. TOV Encroachment License
The foregoing numbered codes or a variant thereof will appear on
the face of each recorded easement:
U
644376.7 RCFISH B-1
M EXHIBIT C
Depiction of Boundary
between
Off-Site Streetscape Improvements
and
Lionshead Place Improvements
(see the attached)
•
i
644376.7 RCFISH C~ 1
,.
• RESOLUTION NO. 13
Series of 2005
A RESOLUTION APPROVING THE PARKING CAPITAL INVESTMENT
AGREEMENT BETWEEN THE TOWN OF VAIL (THE "TOWN") AND THE
VAIL CORPORATION, DB/A VAIL ASSOCIATES, INC., A COLORADO
CORPORATION ("VAIL ASSOCIATES"), WHICH AGREEMENT RELATES
TO THE ARRABELLE AT VAIL SQUARE DEVELOPMENT BY VAIL
ASSOCIATES
WHEREAS, the Town, acting through its applicable departments and agencies,
including the Planning and Environmental Commission and Design Review Board, has
previously approved design development plans proposed by Vail Associates for its intended
development of the "Arrabelle at Vail Square" mixed-use real estate project (the "Project"); and
WHEREAS, as part of and in conjunction with the Project, the Town and Vail
Associates have determined to make and enter into a "Parking Capital Investment Agreement"
whereby Vail Associates will make a capital investment of up to $4,300,000 for augmenting the
public parking supply in the Town of Vail (the "Agreement"), which Agreement will replace and
supercede the Parking Capital Investment Agreement dated November 8, 2004, made between
the parties and pertaining to the "Gore Creek Place" residential project; and
• WHEREAS, the Town, acting through its a licable d artments and a encies
Pp ~ g
(including the Director of Public Works and the Director of Community Development), and Vail
Associates have negotiated terms and conditions for the Agreement; and
WHEREAS, the approval of the Agreement is necessary and proper for the health,
safety and welfare of the Town and its inhabitants; and
WHEREAS, the Agreement complies with all applicable laws and regulations of
the State of Colorado and the Town, and the Town has the authority to enter into the Agreement
pursuant to such laws.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE
TOWN OF VAIL, COLORADO as follows:
Section 1.
The Agreement is hereby approved, and the Town shall enter into the Agreement and perform,
observe and discharge its obligations under the Agreement.. The Town Manager is hereby
authorized and directed to execute and deliver the Agreement, on behalf of the Town, with such
terms and provisions as the Town Manager, after consultation with the Town Attorney, considers
to be necessary or appropriate in furtherance of this Resolution.
•
Resolution No. 13, Series of 2005
•
Section 2_
The Town Council hereby finds, determines and declares that this Resolution is necessary and
proper for the health, safety and welfare of the Town of Vail and the inhabitants thereof.
INTRODUCED, READ, APPROVED AND ADOPTED this ~ ~ day of
~,~.Q , 2005.
Rodney Slifer,
Mayor, Town of Vail
A TEST:
orelei Donaldson,
Town Clerk, Town of Vail
•
•
Resolution No. 13, Series of 2005
O r1 O F ~V~
.:'
' .,
SEAL ,
., ,.
~oioaP°°~
2
• AMENDED AND RESTATED
PARHING CAPITAL INVESTMENT AGREEMENT
THIS AMENDED AND RESTATED PARKING C,~~PITAL ESTMENT
AGREEMENT (this "Agreement") is made effective as of the ~ day of _ ~ ,
2005, by and between THE VAIL CORPORATION, D/B/A VAIL ASSOCI S, C., a
Colorado corporation ("Vail Associates"), and the TOWN OF VAIL, a municipal Corp ration
duly organized and existing under and by virtue of the laws of the State of Colorado (the
"Town").
RECITALS
A. Vail Associates is the owner of certain real property in the Lionshead area
of the Town of Vail, Eagle County, Colorado, which is commonly referred to as the "Core" site
and which is legally described on Exhibit A attached hereto (the "Core Property"). Vail
Associates has secured approvals from the Town's Planning and Environmental Commission and
other Town agencies of certain design and development plans (the "Core Design AYr.,,vals") for
the development of a mixed-use real estate project, including hoteUlodge and residential
condominium uses and certain commercial, public and recreational uses, to be located within the
Core Property, and presently intended to be developed under the trade name "Arrabelle at Vail
Square" (the "Core Project").
• B. The parties mutually acknowledge and agree that as a requisite part of and
as a remaining Town requirement far the rendering of the Core Design Approvals, and as a
condition to Vail Associates' right and ability to undertake the Core Project, Vail Associates
must undertake certain obligations to make a capital investment in additional public parking
facilities for the Town of Vail, which undertaking shall be in accordance with and subject to the
terms of this Agreement. But for the making of this Agreement, Vail Associates would not be
eligible to secure the remaining building permit and other construction approvals from the Town
that are requisite to proceeding with the Core Project. This devel~,r,~~ent requirement has arisen
in part because the parties have mutually determined, as a more appropriate allocation, to
attribute the parking capital investment undertaking to the Core Project in lieu of the Gore Creek
Project (as defined in the Original Agreement, which in turn is hereinafter defined). It is
mutually intended that Vail Associates' capital investment in this regard be applied efficiently to
maximize the resulting community benefit by the enhancement of public parking.
NOW, THEREFORE, in consideration of the above premises and the mutual
covenants and agreements set forth herein, the parties agree as follows:
1. Capital Investment in Parkin. Subject to the following terms and
conditions, Vail Associates agrees to make or cause the making of a capital investment in public
parking in the Town of Vail in the amount of $4,300,000 (the "Parking Investment"). This
obligation to make the Parking Investment will apply only (i) to the establishment of new
• permanent public parking facilities in the Town that are owned by the Town and that act as an
increment to the inventory of public parking facilities presently available in the Town, or
alternatively (ii) to other means of augmenting the Town's public parking supply that may be
647291.2
• acceptable to and approved in writing by Vail Associates in its discretion (the parking provided
under clause (i) or clause (ii), as applicable, being refereed to hereinafter as the "Requisite
Parking Increment"). If the Town is to provide the Requisite Pazking Increment pursuant to new
permanent facilities under clause (i) above, then the schematic design plans therefor (the
"Parking Plans"} will be subject to the prior written approval of Vail Associates, not to be
unreasonably withheld. Vail Associates agrees that it will fund the Pazking Investment in hand
to the Town within thirty (30) days after satisfaction of the following conditions, with such
satisfaction to be reasonably substantiated to Vail Associates:
(a) The Town has entered into bona fide binding construction
contracts or other agreements, made on anarm's-length basis with third parties, for the
provision of the Requisite Pazking Increment in accordance with the approved Parking
Plans;
(b) Those applicable construction contracts or agreements expressly
establish payment and funding obligations of the Town (the "Project Costs") in
furtherance of providing the Requisite Pazking Increment in amounts that on their face
equal or exceed $4,300,000; and
(c) On-site construction or other work for furnishing the Requisite
Parking Increment (the "Parking Project") has actually been commenced ("Project
Commencement").
• Vail Associates' obligations hereunder are not conditioned upon its actual undertaking of the
Core Project.
2. Diluent Completion. Following the Project C.,Y..:..encement and the
funding of the Parking Investment, the Town will cause the Parking Project to be diligently
prosecuted and completed in accordance with the approved Parking Plans and the governing
construction contracts or agreements, such that it maybe lawfully used for its intended purposes.
3. Remedies. This Agreement maybe enforced by any remedies available at
law or equity, including, without limitation, the recovery of damages and, where appropriate,
injunctive relief to compel performance. All remedies shall be cumulative with and non-
exclusive of one another, and may be pursued successively or concurrently, and the exercise of
any one remedy shall not be construed as an election to the bar of any other remedy. However,
neither party shall be entitled to recover lost profits, or consequential or punitive damages.
4. Notices: Business Davs. Any notice required or permitted under the terms
of this Agreement shall be in writing, may be given by the parties hereto or such parties'
respective legal counsel, and shall be deemed given and received (i) when hand delivered to the
intended recipient, by whatever means; (ii) three (3) business days after the same is deposited in
the United States mails, with adequate postage prepaid, and sent by registered or certified mail,
with return receipt requested; (iii) one (1) business day after the same is deposited with an
overnight courier service of national or international reputation having a delivery area
• encompassing the address of the intended recipient, with the delivery charges prepaid; or
(iv) when received via facsimile on the intended recipient's facsimile facilities accessed by the
647291.2 2
• applicable telephone number set forth below (provided such facsimile delivery and receipt is
confirmed on the facsimile facilities of the noticing party). Any notice under clause (i), (ii) or
(iii) above shall be delivered or mailed, as the case may be, to the appropriate address set forth
below:
If to Vail Associates:
c/o Vail Resorts Development Company
Post Office Box 959
137 Benchmark Road
Avon, Colorado 81620
Attention: Jack Hunn, Vice President of Design and Construction
Fax No.: (970) 845-2555
Phone: (970) 845-2359
with a co~v to:
c/o Vail Resorts Development Company
Legal Department
Post Office Box 959
137 Benchmark Road
Avon, Colorado 81620
Attention: Karsten Canada, Esq.
• Fax No.: (970) 845-2555
If to Town:
Town of Vail
75 S. Frontage Road
Vail, Colorado 81657
Attention: Town Manager
Fax No.: (970) 479-2157
with a conv to:
Town of Vail
75 S. Frontage Road
Vail,. Colorado 81657
Attention: Town Attorney
Fax No.: (970) 479-2157
Either party may change its addresses and/or fax numbers for notices pursuant to a written notice
which is given in accordance with the terms hereof. As used herein, the term "business day"
shall mean any day other than a Saturday, a Sunday, or a legal holiday for which U.S. mail
service is not provided. Whenever any date or the expiration of any period specified under this
Agreement falls on a day other than a business day, then such date or period shall be deemed
extended to the next succeeding business day thereafter.
64'29 L2
• 5. Severabilitv. In the event any provision of this Agreement is held to be
illegal, invalid or unenforceable under any present or future laws, the legality, validity and
enforceability of the remaining provisions in this Agreement shall not be affected thereby, and in
lieu of the affected provision there shall be deemed added to this Agreement a substitute
provision that is legal, valid and enforceable and that is as similar as possible in content to the
affected provision. It is generally intended by the parties that this Agreement and its separate
provisions be enforceable to the fullest extent permitted by law.
6. Entire Agreement. This Agreement and the other contracts or agreements
specifically referred to herein represent the entire agreement between the parties hereto with
respect to the subject matter hereof, and all prior or extrinsic agreements, understandings or
negotiations shall be deemed merged herein; without limitation on the generality of the
foregoing, this Agreement shall supercede and reinstate in its entirety the Parking Capital
Investment Agreement dated as of November 8, 2004, between Vail Associates and the Town
(the "Original Agreement"), which is hereby terminated and of no further force or effect.
7. Rules of Construction. The headings which appear in this Agreement are
for purposes of convenience and reference and aze not in any sense to be construed as modifying
the paragraphs in which they appear. Each party hereto acknowledges that it has had full and fair
opportunity to review, make comment upon, and negotiate the terms and provisions of this
Agreement, and if there arise any ambiguities in the provisions hereof or any other circumstances
which necessitate judicial interpretation of such provisions, the parties mutually agree that the
• provisions shall not be construed against the drafting party, and waive any rule of law which
would otherwise require interpretation or construction against the interests of the drafting party.
References herein to the singular shall include the plural, and to the plural shall include the
singular, and any reference to any one gender shall be deemed to include and be applicable to all
genders. The titles of the pazagraphs in this Agreement are for convenience of reference only
and are not intended in any way to define, limit or prescribe the scope or intent of this
Agreement.
8. Town Council Annroval. This Agreement shall not become effective until
the Town Council's adoption and approval of this Agreement by resolution. As part of that
resolution, the Town Council will designate and authorize the Town Manager to execute and
deliver this Agreement on behalf of the Town. The effective date of this Agreement shall be the
date upon which this Agreement has been executed and delivered by Vail Associates and so
executed as set forth above by the Town Manager.
9. Waivers and Amendments. No provision of this Agreement may be
waived to any extent unless and except to the extent the waiver is specifically set forth in a
written instrument executed by the party to be bound thereby. No modification or amendment to
this Agreement shall have any force or effect unless embodied in an amendatory or other
agreement executed by Vail Associates and the Town, with the Town's execution to be
authorized by Town Council ordinance or resolution, as applicable. However, if, on behalf of
the Town, the Town Manager, after consultation with the Director of Community Development,
determines that any proposed amendment or modification constitutes a minor change, then the
• Town Manager shall have the unilateral power and authority to execute and deliver such
amendment or modification on behalf of the Town and to bind the Town thereby. In any event
sane t.z 4
• the Town Manager will have the unilateral power and authority to furnish any estoppel
certificates, approvals, confirmations of whole or partial termination, or other documents or
communications contemplated by the provisions of this Agreement.
10. Governine Law. This Agreement shall be governed by and construed in
accordance with the laws of the State of Colorado.
11. Additional Assurances. The parties agree to reasonably cooperate to
execute any additional documents and to take any additional action as may be reasonably
necessary to carry out the purposes of this Agreement.
12. No Third Party Beneficiary. Except for the corporate affiliates of Vail
Associates, who are expressly intended to be third-party beneficiaries of Vail Associates' rights
hereunder, no third party is intended to or shall be a beneficiary of this Agreement, nor shall any
such third party have any rights to enforce this Agreement in any respect.
13. Counteroarts. This Agreement may be executed in counterparts, each of
which shall constitute an original, and which together shall constitute one and the same
agreement.
14. Successors and Assisns. This Agreement shall be binding upon and inure
to the benefit of Vail Associates and the Town and their respective successors and assigns. This
Agreement shall not run with the land as a burden to the ownership of the Core Property.
• 15. No Joint Venture or Partnership. No form of joint venture or partnership
exists between the Town and Vail Associates, and nothing contained in this Agreement shall be
construed as malting the Town and Vail Associates joint venturers or partners.
16. Attorneys' Fees. In the event any legal proceeding arises out of the
subject matter of this Agreement and is prosecuted to final judgment, the prevailing party shall
be entitled to recover from the other all of the prevailing party's costs and expenses incurred in
connection therewith, including reasonable attorneys' fees (and the presiding court will be bound
to make this award).
[Balance of page intentionally left blank]
.,
~.
ba~29i.z 5
• IN WITNESS WHEREOF, the Town and Vail Associates have made this Parking
Capital Investment Agreement as of the day, month and year first above written.
Town:
TOWN OF VAIL, a municipal corporation duly
~t~ O F. V;4~1 organized and existing by virtue of the laws of the
~.' •; State of Colorado
' L'
' ~A '
•
'5 '
' ~ ~
,.
Name: Stan Zemler
Title: Town Manager
A~_i~ST:
~.g~lei Donaldson, Town Clerk
• [Signature blocks continue on following page]
•
64729L2 6
• VAIL ASSOCIATES:
THE VAIL CORPORATION D/B/A VAIL
ASSOCIATES, INC., a Colorado corporation
By:
Name:
Title:
•
•
647291.2
. , ~ .
•
EXHIBIT A
Legal Description of Core Property
Lot 4, Block 1, and Tract D, VaiULionshead First Filing, according to the plat recorded May 10,
1970, in Book 217 at Page 675;
Tract C, VaiULionshead First Filing, according to the plat recorded May 10, 1970, in Book 217
at Page 675, but excluding therefrom those portions conveyed to the Town of Vail in deeds
recorded in Book 560 at Page 180 and in Book 389 at Page 502; together with any further
portions of said Tract C hereafter acquired of record by Vail Associates;
Tract C, VaiULionshead Third Filing, according to the plat recorded October 15, 1971, in
Book 221 at Page 992, but excluding therefrom that portion conveyed to the Town of Vail in
deed recorded in Book 560 at Page 180, and excepting portions thereof included within Concert
Hall Plaza Condominiums according to the Condominium Map recorded in Book 286 at
Page 698; together with any further portions of said Tract C hereafter acquired of record by Vail
Associates; and
Lot 2, Block 1, Tract G and Tract H, VaiULionshead Third Filing, according to the plat recorded
October 15, 1971 in Book 221 at Page 992;
• County of Eagle,
State of Colorado.
•
647?91.? A-1
RESOLUTION No. 14,
Series of 2005
A RESOLUTION APPROVING THE ADOPTION AND CONFIRMING THE
EFFECT OF THE INTERGOVERNMENTAL AGREEMENT BY AND
AMONG THE VAIL REINVESTMENT AUTHORITY, THE VAIL SQUARE
METROPOLITAN DISTRICT NOS. 1, 2 AND 3, AND THE VAIL
CORPORATION, D/BIA VAIL ASSOCIATES, INC.
WHEREAS, on May 3rd 2005, the Town of Vail passed a resolution (the "Plan
Resolution"} approving the Consolidated Service Plan for the Vail Square Metropolitan District
Nos. 1, 2 and 3 (the "Districts"), conditioned upon execution of an intergovernmental agreement
between Vail Square Metropolitan District No. 1 and the Vail Reinvestment Authority
("Authority") to transfer tax increment revenues for the purpose of funding of certain
infrastructure; and
WHEREAS, the proponents of the Districts, the Authority, and The Vail Corporation (the
"Parties") have agreed upon an Intergovernmental Agreement to be made by and among the
Parties in the form attached hereto as Exhibit A (the "TIF Agreement"); and
WHEREAS, the Council considers that the condition under the Plan Resolution will have
been met upon the Districts' formation and subsequent execution of the TIF Agreement; and
WHEREAS, the adoption of the TIF Agreement, the implementation of the Plan
Resolution, and the actions under this Resolution aze necessary and proper for the health, safety
and welfare of the Town and its inhabitants; and
WHEREAS, the actions under this Resolution comply with all applicable laws and
regulations of the State of Colorado and the Town.
NOW THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN
OF VAIL, COLORADO:
1. That the Town Council of the Town of Vail, Colorado, approves and acknowledges that
the Authority has approved the form of TIF Agreement by and among the Vail Reinvestment
Authority, the Vail Square Metropolitan District Nos. 1, 2 and 3, and The Vail Coporation,
D/B/A Vail Associates, Inc. regarding the transfer of increment tax funding revenue from the
Vail Reinvestment Authority to Vail Square Metropolitan District No. 1 or the other Districts at
its direction for the purpose of funding certain infrastructure.
2. That the Town Council of the Town of Vail, Colorado, hereby fords that the condition to
the approval of the Consolidated Service Plan for the Vail Squaze Metropolitan District Nos. 1, 2
and 3, as set forth in the Plan Resolution, will have been met upon execution of the TIF
Agreement by The Vail Corporation (or its successor in interest) and by the Districts subsequent
to their formation.
•
Resolution No. 14, Series of 2005
• 3. A certified copy of this Resolution shall be filed in the records of the Town and, in
connection with the Districts' formation, submitted to the petitioners for the purpose of filing in
the District Court of Eagle County.
4. That all resolutions or parts thereof in conflict with the provisions hereof shall be and the
same are hereby repealed.
5. The Town Council hereby finds, determines and declares that this Resolution is necessary
and proper for the health, safety and welfare of the Town of Vail and the inhabitants thereof.
INTRODUCED, READ, APPROVED AND ADOPTED this ~ Q ~ day of
2005.
o~N:;.::;~q~
SEAL 's
.~~co"ap-d°
ATTEST:
/:~~.~,~
~~~
Rodney E. Slifer,
Mayor, Town of Vail
Y /~
• ` Y//
Lorelei Donaldson,
Town Clerk, Town of Vail
•
Resolution No. 14, Series of 2005 2
• INTERGOVERNMENTAL AGREEMENT BETWEEN
THE VAIL REINVESTMENT AUTHORITY,
VAIL SQUARE METROPOLITAN DISTRICT NO.1,
VAIL SQUARE METROPOLITAN DISTRICT N0.2,
AND VAIL SQUARE METROPOLITAN DISTRICT N0.3, AND
THE VAIL CORPORATION, d/b/a/ VAIL ASSOCIATES, INC.
This INTERGOVERNMENTAL AGREEMENT is made effective as of the day of
2005, by and between the VAIL REINVESTMENT AUTHORITY, a
body corporate duly organized and existing as an urban renewal authority under the laws of the
State of Colorado, VAIL SQUARE METROPOLITAN DISTRICT Nos. 1, 2 and 3, quasi-
municipal corporations and political subdivisions of the State of Colorado, and THE VAIL
CORPORATION, d/b/a VAIL ASSOCIATES, INC., a Colorado Corporation.
RECITALS
WHEREAS, the Town, the Authority and Vail executed the Development Agreement (as
• defined below) to set forth their intentions regarding redevelopment of the area within the
collective boundaries of the Districts; and
WHEREAS, the Development Agreement required Vail to construct certain
improvements, including the On-Site Streetscape Improvements, the Off-Site Streetscape
Improvements and the Lionshead Place Improvements, and provided that if the Districts were
formed and made a commitment to construct the District Improvements, the Authority would
enter into an agreement with the Districts to transfer to the Districts the District Tax Increment
Revenues; and
WHEREAS, the formation of the Districts was conditionally approved by the Town in
conjunction with the conditional approval of the Service Plan on May 3, 2005; and
WHEREAS, the Town conditioned its approval of the Service Plan upon the Districts'
commitment to execute atax-increment refunding agreement with the Authority in coordination
with the Development Agreement, and the Parties intend this Agreement to fulfill that
commitment, as well as to fulfill the obligation of the Authority to enter into an agreement with
the Districts, as discussed above; and
WHEREAS, the Districts intend to commit to construct or cause to be constructed the
District Improvements under the Devel~~,~~.ent Agreement; and
• WHEREAS, sections 31-25-105 and 31-25-112 of the Colorado Revised Statutes, and
section 4.5 of the Urban Renewal Plan authorize the Authority to enter into contracts and
• agreements with other parties, including public bodies, for the purpose of aiding the Authority in
execution of its projects, programs, works, operations, and activities; and
WHEREAS, Article 1 of Title 32 of the Colorado Revised Statutes and the Service Plan
authorize the Districts to enter into contracts affecting the affairs of the Districts, authorize the
Districts to borrow money and to issue bonds, including revenue bonds, and authorize the
Districts to construct, operate and maintain certain public improvements such as the District
Improvements; and
WHEREAS, the Urban Renewal Plan authorizes the Authority to revitalize areas within
the Town of Vail by redeveloping infrastructure therein, including but not limited to the District
Improvements; and
WHEREAS, the purposes for which the Districts were formed include the provision of
the District Improvements and the undertaking of certain operation and maintenance obligations
related thereto; and
WHEREAS, the Parties desire for the Districts to enter into an agreement with the
Authority for the purpose of aiding the Authority in execution of the Authority's projects,
programs, works, operations and activities within the boundaries of the Districts; specifically, the
Parties desire for the Authority to contract with the Districts to construct the District
Improvements in accordance with the terms of the Development Agreement governing such
• construction, and undertake any operation and maintenance activities related thereto; and
WHEREAS, under this Agreement and in consideration for the District's commitment to
undertake construction of the District Improvements, the Authority will transfer to the Districts
the District Tax Increment Revenues, to which the Authority would otherwise be entitled under
the Urban Renewal Plan, as consideration for the Districts' assumption of Vail's obligation to
construct the District Improvements; and
WHEREAS, the Districts anticipate issuing the District Bonds to pay for construction of
the District Improvements, the interest and principal payments of which the Districts intend to
pay from various revenue streams, including but not limited to, funds received from the
Authority pursuant to this Agreement, and the Parties recognize that the timely transfer of funds
to the Districts pursuant to this Agreement will be critical for the Districts to comply with their
obligations arising from the District Bonds as well certain other obligations and undertakings.
NOW THEREFORE, for and in consideration of the covenants and mutual agreements
herein contained, and of other good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, the Parties agree as follows:
SPECIFIC PROVISIONS
DEFINITIONS
•
2
• a. Agreement means this Intergovernmental Agreement, executed and
entered into by and among the Parties as of the date first written above.
b. Authority means the Vail Reinvestment Authority, a body corporate duly
organized and existing as an urban renewal authority under the laws of the State of Colorado.
c. Base Valuation means, with respect to the azea within the boundaries of
the Districts, the total assessed valuation of all taxable property last certified by the assessor prior
to the effective date of the original approval of the Urban Renewal Plan.
d. Core Site Propertv means a pazcel of property located in Eagle County,
Colorado, and more specifically described in Exhibit A, attached hereto and incorporated herein.
e. Development Agreement means the Core Site Development Agreement
entered into by and among the Town, the Authority and Vail, dated November 8, 2004, as may
be amended or supplemented from time to time.
f. District Bonds means bonds, notes, or any other instrument (including but
not limited to contract-based obligations such as loan agreements and reimbursement agreements
between the Districts and Vail or other private parties), or any combination thereof issued by one
or more of the Districts for the purpose of financing the District Improvements, and secured in
whole or in part by a Pledge of ad valorem property taxes imposed by the Districts and/or
• District Tax Increment Revenues paid to the Districts by the Authority pursuant to this
Agreement.
g. District IGA means an intergovernmental agreement as described in
section 3.a.(2).
h. District Improvements means the On-Site Streetscape Improvements, the
Off-Site Streetscape Improvements and the Lionshead Place Improvements, collectively.
i. District Tax Increment Revenues means the amount of ad valorem
property taxes or levies collected on the increment Valuation of all taxable property located
within the boundaries of the Districts as a result of ad valorem taxes or levies imposed by the
Districts for both operations and maintenance purposes as well as for payment of debt service on
District Bonds.
j. Districts means Vail Squaze Metropolitan District No. 1, Vail Square
Metropolitan District No. 2 and Vail Square Metropolitan District No. 3, collectively.
k. Increment Valuation means, with respect to the area within the boundaries
of the Districts, the amount of assessed valuation, as established from time to time, on all taxable
properties therein, which exceeds the Base Valuation, if any.
1. Lionshead Place Improvements shall have the meaning set forth in the
• Development Agreement.
3
• m. Off-Site Streetscane Improvements shall have the meaning set forth in the
Development Agreement.
n. On-Site Streetscane Improvements shall have the meaning set forth in the
Development Agreement.
o. Partv and Parties mean one or more of the following as indicated by
context: the Authority, one or more of the Districts, and/or Vail.
p. Pledge means such assignment, conveyance, promise to pay, remittance or
other transfer as may be customary and necessary or appropriate to make fully available for
payment of District Bonds any District Tax Increment Revenues.
q. Section xx means a section of this Agreement as indicated by the section
numbers herein.
Service District means Vail Square Metropolitan District No. 1.
s. Service Plan means the Consolidated Service Plan for the Vail Square
Metropolitan District Nos. 1, 2 and 3, conditionally at,y~.,ved on May 3, 2005, as amended from
time to time.
• t. Taxing Districts means Vail Square Metropolitan District No. 2 and Vail
Square Metropolitan District No. 3, collectively.
u. Town means the Town of Vail, ahome-rule municipal corporation and
political subdivision of the State of Colorado.
v. Urban Renewal Plan means the Lionshead Public Facilities Development
Plan of the Vail Reinvestment Authority, as adopted by the Town of Vail in March 2004, and as
amended in June, 2005, and as may be further amended from time to time.
w. Vail means The Vail Corporation, d/b/a Vail Associates, Inc., a Colorado
Corporation, and any successor thereto in accordance with the terms hereof.
2. Transfer and Pledee of District Tax Increment Revenues.
a. Transfers for Operations and Maintenance Functions. In order to provide
for operating revenues to allow the Districts to perform their governmental functions (including
the performance of its obligations under this Agreement), and, following construction of District
Improvements, to enable the Districts to operate, maintain and repair such District Improvements
(to the extent such District Improvements are not dedicated to the Town or other entity), the
Districts intend to impose an operating mill levy upon property within the Districts. The
Authority will transfer revenues generated from the Districts' operating mill levy as provided
herein. When the Authority receives any portion of the District Tax Increment Revenues
4
generated from the operating mill levy, it shall immediately pay over, or cause the payment over
of such District Tax Increment Revenues directly to the Service District, in immediately
available funds, (which transfer shall be accompanied by a copy of any statements received by
the Authority in conjunction with receipt of the District Tax Increment Revenues).
b. Pledge of District Tax Increment Revenues for Debt Service. In
connection with the issuance of District Bonds, and pursuant to the written direction of the
Service District, the Authority will Pledge and pay to the Districts (or any one of them in
accordance with the requirements of the District Bonds), or to any trustee or escrow agent
engaged to administer receipts and payments in connection with the District Bonds all of the
District Tax Increment Revenues, except those revenues to be transferred to the Districts
pursuant to Section 2.a. hereof. The Pledge shall take such form and contain such terms as may
then be required in order permit the issuance of District Bonds, subject to the approval of the
Authority, which will not be unreasonably withheld consistent with the intent of the parties
hereto that a Pledge sufficient to support the issuance of the District Bonds as if the District were
levying and collecting the District Tax Increment Revenues directly. If and when the Authority
receives any portion of the District Tax Increment Revenues, it shall immediately pay over, or
cause the payment over of such District Tax Increment Revenues directly to the Service District,
in immediately available funds, (which transfer shall be accompanied by a copy of any
statements received by the Authority in conjunction with receipt of the District Tax Increment
Revenues). Alternatively, pursuant to the written direction of the Service District, and if
consented to by the Eagle County Treasurer, the District Tax Increment Revenues shall be paid
• directly to the Districts (or any one of them in accordance with the requirements of the District
Bonds or otherwise per the direction of the Service District), or to any trustee or escrow agent
engaged to administer receipts and payments in connection with the District Bonds.
3. Parties' Obligations.
a. Districts' Obligations.
(1) The Districts hereby agree to use their best efforts to obtain
financing for construction of the District Improvements, including but not limited to financing
from private developer entities. Contingent upon the District's ability to obtain financing for
construction of the District Improvements, and otherwise subject to the provisions of Paragraph 4
hereof, the Districts will construct the District Improvements to the extent required by the
Development Agreement and as permitted in the Service Plan, in compliance with applicable
requirements imposed by all state and local authorities with proper jurisdiction pursuant to
applicable laws, and consistent with the Urban Renewal Plan. Following construction, and as
contemplated by the Development Agreement, and to the extent of available funds, the Districts
shall conduct (or cause to be conducted) such operations and maintenance activities as may be
necessary for those District Improvements that are not dedicated to other governmental entities,
in order to assure that the District Improvements confer the benefits intended.
(2) The Districts shall proceed to negotiate and execute the District
• IGA by and among themselves to manage and coordinate construction of the District
Improvements. The District IGA shall contain provisions under which the Service District will
5
• be the party entitled to direct the receipt and expenditure of the District Tax Increment Revenues
on behalf of the Districts in accordance with the Service Plan. The obligations of this Section
2(a}(ii) shall be deemed fulfilled if such an intergovernmental agreement already exists or if the
Districts amend an existing intergovernmental agreement so as to conform to the requirements
set forth in this Section 2(a)(ii).
(3) The Districts shall keep proper books of record and account, in
which full and correct entries shall be made of financial transactions and the assets and
operations of the Districts in accordance with generally accepted accounting principles to the
extent applicable to governmental entities.
(4) At any reasonable time, from time to time and as may be
reasonably requested, the Districts shall permit other Parties or any of their respective agents or
representatives to examine and make copies of the abstracts from the minutes, records and books
of account of, and visit the properties of the Districts.
b. Authoritv's Obligations. In addition to its obligations in Section 1 of this
Agreement, the Authority agrees to the following:
(1) The Authority shall keep proper books of record and account, in
which entries of all transfers of District Tax Increment Revenues pursuant to Section 1 shall be
made, and shall make such books available, at any reasonable time, from time to time and as may
• be reasonably requested, to the other Parties or their respective agents or representatives for
examination and the making of copies from such books; and
(2) The Authority acknowledges and agrees that, as might be
necessary, the Districts may negotiate for and obtain certain security or credit enhancement for
the District Bonds from persons which as of the date hereof own property within the Districts.
The Authority further acknowledges and agrees that if it breaches this Agreement, such breach
may result in the inability of the Districts to comply with obligations owing to such persons in
connection with security or credit enhancements for the District Bonds. Consequently, the
Authority agrees that it shall not be entitled to terminate this Agreement except pursuant to the
express provisions of Section 7 below, and that this Agreement is intended to be strictly enforced
and will be specifically enforceable to the maximum extent permitted by law. Nothing in this
paragraph shall be construed as granting any rights to third parties; and
(3) The Authority acknowledges and agrees that the Districts intend to
issue the District Bonds in the future, and the District Bonds will be issued in reliance upon the
Authority's obligations to transfer the District Tax Increment Revenues to the Districts consistent
with the provisions of this Agreement. Consequently, the Authority agrees that trustees and
bondholders related to the issuance of the District,Bonds shall be considered intended third party
beneficiaries of this Agreement with rights to enforce this Agreement with respect to the transfer
of District Tax Increment Revenues as set forth herein. The Authority further acknowledges that
a breach of its duties to pay over the District Tax Increment Revenues to the Service District
• under Section 2 may result in the inability of the Districts to perform their duties regarding
6
• maintenance of portions of the District Improvements in accordance with the Development
Agreement.
(4) The Authority agrees to take all commercially reasonable action
reasonably necessary to cause Eagle County to pay to the Authority (or, in the event direct
payment to those parties permitted in Paragraph 2 hereof, then to such parties directly) the
District Tax Increment Revenues. In the event Eagle County fails to do so in whole or in part,
the Authority agrees to take all commercially reasonable action necessary to effect a direct cause
of action and exercise its full right and authority to collect the District Tax Increment Revenues.
The costs of such collection shall be offset against the District Tax Increment Revenues.
4. Assignment of Vail's Obligations Under Development Agreement. With respect
to Vail's rights and obligations under the Development Agreement to construct, operate and/or
maintain the Off-Site Streetscape Improvements, the On-Site Streetscape Improvements and the
Lionshead Place Improvements, Vail hereby assigns and delegates, respectively, such rights and
obligations, to the Districts, and the Districts, cumulatively with their direct obligations to the
Authority under this agreement, to the extent of available funds, and otherwise subject to the
Districts Service Plan, hereby accept assignment and delegation of such rights and obligations
and assume Vail's obligations to construct, operate and/or maintain the same (the
"Assignment"). The parties agree and acknowledge that the Districts' financing capability is
limited and that the Districts will not be able to finance all of the District Improvements;
accordingly, this Assignment shall be subject to the designation of specific projects or types of
• improvements in the future based on the then-current information concerning the Districts'
financing capabilities. Vail shall take no action that could impair the ability of the Districts to
construct or obtain financing for construction of the District Improvements.
5. Events of Default and Remedies.
a. Default. The occurrence of any of the following events shall bean "Event
of Default" hereunder, unless waived by the non-defaulting party pursuant to Section 5 hereof:
(1) Subject to the provisions of Paragraph 4 hereof, the failure of the
Districts to make a good faith effort to construct the District Improvements or issue debt
necessary to construct the District Improvements to the extent required by the Development
Agreement; or
(2) The failure to pay any payment within five (5) business days of the
date upon which the same shall become due and payable as provided herein and to cure such
failure within three (3) business days of receipt of notice from the Service District of such
failure; or
(3) The failure of the Authority to provide copies of any statements
received by the Authority in conjunction with receipt and payment over to the Service District of
the District Tax Increment Revenues; or
•
7
• (4) The filing of a voluntary petition under federal or state bankruptcy
or insolvency laws by the Districts or the Authority or the appointment of a receiver for any of
the Authority's assets which are not remedied or cured within thirty (30) days of such filing or
appointment.
b. Remedies. Whenever any Event of Default shall have occurred and is
continuing, the non-defaulting party may take whatever action at law or in equity which may
appear necessary or desirable to enforce performance and observance of any obligation,
agreement or covenant of the defaulting Party under this Agreement.
c. Payments During Litigation. The Authority acknowledges and agrees that
during the pendency of any litigation which may arise hereunder, all payments owing under this
Agreement shall be made by the Authority for the purpose of enabling the Districts to make
payments on the District Bonds and to perform maintenance and other authorized functions, until
such claims have been finally adjudicated. Only upon such final adjudication may the Authority
then seek to recover any payments the Authority believes the Districts were not entitled to, by
actions at law or in equity for damages or specific performance, respectively.
d. Inability to Obtain Financing to Construct District Improvements. If,
despite the Districts' best efforts, the Districts are unable, for any reason, to obtain financing for
the District Improvements designated to be constructed by the Districts in accordance with the
Assignment referenced in Paragraph 4 hereof, or are unable to construct said District
• Improvements, then to the extent of the Districts' inability to obtain financing, this Agreement
shall be considered null and void and all obligations owing hereunder shall be unenforceable.
6. Amendments and Waivers. No amendment or waiver of any provision of this
Agreement nor consent to any departure by any Party from any of its obligations hereunder shall
in any event be effective unless the same be in writing and signed by the Parties, and then such
waiver or consent shall be effective only in the specific instance and for the specific purpose for
which such waiver or consent is given.
7. Obligations Absolute. The obligations of the parties hereunder shall be absolute,
unconditional and irrevocable, and shall be performed strictly in accordance with the terms of
this Agreement. The Parties' obligations shall be specifically enforceable and time shall be of
the essence. Without limitation of the foregoing, the Parties' obligations shall not be affected by
any of the following circumstances:
a. Any lack of validity or enforceability of the District Bonds or any
document or instrument relating thereto;
b. Any amendment or waiver of, or any consent to departure from, the terms
of this Agreement; or
c. The existence of any claim, counterclaim, setoff, defense or other right
• which any Party may have at any time against any of the other Parties, whether in connection
8
with this Agreement or any unrelated agreement or transaction, and all funds owing hereunder
shall be paid without any setoff or reduction.
Termination. This Agreement shall terminate upon the earlier of:
a. Expiration of the power of the Authority to utilize tax increment funds; or
b. Acknowledgment, in writing, by the Districts, that the Districts have paid
all capital costs and satisfied all obligations with respect to the costs of constructing the District
Improvements, including costs of issuance of and principal and interest paid for debt used to
finance construction of the District Improvements, together with the execution of a supplemental
agreement to address remaining maintenance functions of the Districts.
9. Assignment. No Party may assign this Agreement or parts hereof or its duties
hereunder without the express written consent of the other Parties; provided, however, that any
of the Districts may assign any or all of its rights and obligations herein to an assignee without
the consent of the Authority so long as such assignee assumes such rights and obligations of the
assigning District as set forth herein. Such assignment by a District in accordance with the terms
set forth herein shall release such assigning District from such assigned and assumed duties and
obligations.
10. Authorization. Each Party represents to the other that it has taken all action
• necessary to enable it to enter into this Agreement, and that the persons whose signatures appear
below are authorized to execute this Agreement and bind their respective Parties to the terms
hereof.
11. Third Party Beneficiaries. Except as expressly provided in this Agreement, this
Agreement is not intended to give any rights to third parties, and no such third party who is not a
party to this Agreement shall be entitled to enforce any provision hereof or claim any damages
arising from a breach hereof.
12. Notices. All payments, notices, and other communications provided for
hereunder shall be effective upon being sent by registered or certified mail, postage fully prepaid,
addressed to the respective parties as follows:
To the Districts: Vail Square Metropolitan District Nos. 1, 2 and 3
Attn: William P. Ankele, Jr.
White, Bear & Ankele
Professional Corporation
1805 Shea Center Drive, Suite 100
Highlands Ranch, CO 80129
To Vail: Vail Associates, Inc.
Attn:
•
9
• To the Town: Town of Vail
Attn:
With a copy to:
To the Authority Vail Reinvestment Authority
Attn:
13. Miscellaneous
a. Subject to and without limitation of the provisions hereof restricting or
limiting rights of assignment and transfer, all of the terms, covenants, conditions and agreements
herein set forth shall be binding upon and shall inure to the benefit of Vail, the Authority, and the
Districts and their respective successors and assigns.
b. This Agreement and the provisions hereof shall be governed by and
• construed in accordance with the laws of the State of Colorado.
c. If any provision of this Agreement or the application thereof to any party
or circumstance is determined to be invalid, illegal or unenforceable to any extent, the remainder
of this Agreement and the application thereof shall not be affected and shall be enforceable to the
fullest extent permitted by law.
d. This Agreement may be executed in counterparts, each of which shall be
deemed an original but all of which shall constitute one and the same instrument.
e. This Agreement constitutes the entire agreement between the Parties
hereto relating to the matters set forth herein, and sets forth the rights, duties and obligations of
each Party. Any prior agreements, promises, negotiations or representations not expressly set
forth in this Agreement are of no force and effect.
f. The various headings and numbers herein and the grouping of the
provisions of this Agreement into separate Sections or paragraphs are for information and
convenience only and do not limit or construe the contents of any provision hereof.
g. If any Party brings any action or proceeding to enforce, protect or
establish any right or remedy, the prevailing Party shall be entitled to recover reasonable
attorneys' fees and costs to be fixed by the court wherein such judgment is entered.
•
10
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed
by their respective officers as of the date first above written.
VAIL REINVESTMENT AUTHORITY
By:
Name:
Title:
THE VAIL CORPORATION D/B/A
VAIL ASSOCIATES, INC.
By:
Name:
Title:
VAIL SQUARE METROPOLITAN DISTRICT NO. 1
By:
Name:
Title:
• VAIL SQUARE METROPOLITAN DISTRICT N0.2
By:
Name:
Title:
VAIL SQUARE METROPOLITAN DISTRICT N0.3
By:
Name:
Title:
VSMDiAGTSiv4 JPP0110061405
0801.0302
•
11
•
EXHIBIT A
CORE SITE PROPERTY
Lot 4, Block 1, and Tract D, VaillLionshead First Filing, according to the plat recorded May 10,
1970, in Book 217 at Page 675;
Tract C, Vail/Lionshead First Filing, according to the plat recorded May 10, 1970, in Book 217
at Page 675, but excluding therefrom those portions conveyed to the Town of Vail in deeds
recorded in Book 560 at Page 180 and in Book 389 at Page 502;
Tract C, Vail/Lionshead Third Filing, according to the plat recorded October 15, 1971, in
Book 221 at Page 992, but excluding therefrom that portion conveyed to the Town of Vail in
deed recorded in Book 560 at Page 180, and excepting portions thereof included within Concert
Hall Plaza Condominiums according to the Condominium Map recorded in Book 286 at
Page 698; and
Lot 2, Block 1, Tract G and Tract H, Vail/Lionshead Third Filing, according to the plat recorded
October 15, 1971 in Book 221 at Page 992;
County of Eagle,
State of Colorado.
•
•
Resolution No. #15, Series of 2005 RESOLUTION NO. 15
Series of 2005Resolution No. #15, Series of 2005
A RESOLUTION AMENDING CERTAIN SECTIONS OF THE LIONSHEAD
REDEVELOPMENT MASTER PLAN EXPANDING THE BOUNDARIES OF THE
MASTER PLAN TO INCLUDE THE EVERGREEN LODGE DEVELOPMENT SITE AND
ADDING DETAILED PLAN RECOMMENDATIONS FOR FUTURE DEVELOPMENT ON
THE EVERGREEN LODGE DEVELOPMENT SITE, AS PRESCRIBED IN CHAPTER 5
OF THE LIONSHEAD REDEVELOPMENT MASTER PLAN, AND St i t ING FORTH
DETAILS IN REGARD THERETO.
WHEREAS, on December 15, 1998, the Vail Town Council (the "Town Council")
adopted the Lionshead Redevelopment Master Plan (the "Master Plan"); and
WHEREAS, the Master Plan was initiated by the Town of Vail to encourage
redevelopment and new development initiatives within the Lionshead Study Area; and
WHEREAS, Section 2.8 of Master Plan outlines a procedure for amending the
Master Plan; and
WHEREAS, pursuant to Section 2.8 of the Master Plan, the Town of Vail
Community Development Department has proposed an amendment to the Master Plan;
and
WHEREAS, the Town of Vail Planning & Environmental Commission has held a
public hearing on the proposed amendment on August 22, 2005, and has forwarded a
recommendation of approval with modifications of the amendment to the Town Council;
and
WHEREAS, the purpose of this amendment is to amend the boundaries of the
Master Plan to include the Evergreen Lodge development site and to add detailed plan
recommendations for future development on the Evergreen Lodge development site, as
prescribed in Chapter 5, Detailed Plan Recommendations, Lionshead Redevelopment
Master Plan; and
WHEREAS, the Town Council finds that the proposed amendment improves and
enhances the effectiveness of the Master Plan without negatively affecting the goals,
objectives, and policies prescribed by the Master Plan.
Resolution No. #15, Series of 2005
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE
TOWN OF VAIL, COLORADO:
1. The Town Council of the Town of Vail hereby amends the Lionshead
Redevelopment Master Plan as follows:
The amendments to the text of the Lionshead Redevelopment Master Plan are
indicated in BOLD ITALICS (additions) and ~AN6S
(deletions).
(in part)
CHAPTER 5
Detailed Plan Recommendations
5.19 Evergreen Lodge at Vail
The Evergreen Lodge is located directly east of the Middle Creek Stream
Tract and is bordered to the north by the South Frontage Road, to the south
by the Vail Valley Medical Center, and to the east by the WestStar Bank
office building. The lot area is 114,337 square feet or 2.625 acres. Physical
improvements that currently exist on the site are a nine story stucco
hoteUcondominium structure with an adjoining two-story hotel facilities
wing, two below-grade structured parking garages, and paved surface
parking. The nine story structure has a predominant east-west orientation
along the southerly edge of the site while the facilities wing has anorth-south
orientation along the western edge of the site. The eastern parking garage is
utilized by the Vail Valley Medical Center for employee parking and is
accessed from the South Frontage Road through a shared entry/exit with the
WestStar Bank office building.
Opportunities for future improvements and upgrades include:
• Creation of more underground parking;
• Architectural enhancements consistent with the Lionshead
Architectural Design Guidelines;
• Improved exterior lighting;
• Coordinated vehicular access;
• Improved pedestrian circulation; and
• Upgraded and expanded hotel accommodations and amenities
5.19.1 Pedestrian Access
Pedestrian access should be upgraded to provide a safe and attractive
pedestrian connection from the Evergreen Lodge to West Meadow Drive and
along the South Frontage Road. A gravel path connecting the South
Frontage Road to the paved pedestrian path located on the east side of the
Dobson Ice Arena presently exists along the south side of the property. This
2
path, while functional, receives little, if any, regular maintenance and
includes a railroad tie set of stairs that is unsafe and in disrepair.
There are currently no pedestrian improvements located along the South
Frontage Road. Though no improvements exist, a fair number of
pedestrians use the southerly edge of the South Frontage Road when entering
or exiting the site. In order to improve pedestrian access and safety, it is
recommended that future redevelopment of the site includes the construction
of a continuous pedestrian/bicycle path along the South Frontage Road and
that the existing gravel path along the southerly edge of the site be improved
and regularly maintained.
5.19.2 South Frontage Road Improvements and Vehicular Access
The site is currently accessed by vehicles off of the South Frontage Road
from two, two-way access points. Given the proximity of the eastern most
access point to those of the Vail Valley Medical Center and the WestStar
Bank office building, less than desirable vehicular traffic patterns and
turning movements exist in the vicinity. In keeping with Policy Objective
2.3.4, Improved Access and Circulation, of the Plan, opportunities for public
transportation and vehicular circulation improvements should be explored in
conjunction with any future redevelopment of the site. Possible
opportunities for improvements may include, an improved mass transit stop,
relocated points of entry/exiting, acceleration/ deceleration lanes, greater
sight distances, dedicated turning lanes and landscaped medians.
5.19.3 Preservation of Existing Accommodation Units
The Evergreen Lodge presently contains 128 short term accommodation
units. In addition, The Evergreen Lodge also contains a restaurant, lounge,
spa, and meeting space facilities incidental to the operation of the Lodge.
Given the importance and need for short term accommodations to the
vitality and success of the community, any future redevelopment of the site
shall ensure the preservation of short term accommodation units on the site.
The preservation of short term accommodations should focus on maintaining
the number of existing hotel beds and the amount of gross residential square
footage on the site rather than merely requiring the preservation of 128
accommodation units. With this in mind, the quality of the existing
accommodation unit room could be upgraded and the rooms could be
reconfigured to create multi-room suites. In no instead, however, should the
amount of gross residential floor area devoted to accommodation units be
reduced.
5.19.5 Impacts on Middle Creek Stream Tract
3
The Middle Creek Stream Tract lies to the west of the Evergreen Lodge. The
Tract is owned by the Town of Vail. The tract is heavily vegetated with
several substantial deciduous trees and a significant lower layer of
underbrush. Although the site borders the Middle Creek Stream Tract, there
is no significant amount of quality vegetation on the site, and the parcel lies
out of the 100-year flood plain. As currently configured, opportunities exist
to better recognize the benefits of creekside development. While the natural
riparian corridor of Middle Creek needs to remain protected and preserved,
the physical and visual relationships and references between adjacent
development and the stream tract should be strengthened. An opportunity
exists to create a significant connection between the Evergreen Lodge and
Middle Creek. Any use of Middle Creek for aesthetic or recreational
purposes, however, should be subordinate to the preservation of the natural
riparian corridor and its inherent character.
5.19.6 Relationship to the Vail Valley Medical Center and the proposed Vail
Civic Center
Perhaps the most critical functional relationship is the need to coordinate
any future development on the Evergreen Lodge site with the Vail Valley
Medical Center. For example, every effort should be taken to ensure that
future development on the Evergreen Lodge site does not preclude the Vail
Valley Medical Center from reconfiguring the design of the medical center to
eliminate vehicular access off of West Meadow Drive and relocate the access
to the South Frontage Road. Additional opportunities may include, shared
service and delivery facilities, grading and site improvements, shared
parking, and pedestrian pathway connections.
5.19.7 Service and Delivery
Service and delivery functions for the hotel are accommodated on grade
from the westerly entrance. Service and delivery for the Evergreen Lodge
should occur underground or be hidden from public view. Service and
delivery truck turning maneuvering should not negatively impact traffic flow
on the South Frontage Road. With a realignment of the vehicular access
points, attention should be given to the location of service and parking areas.
An additional level of structured parking at the current Frontage Road level
would help to minimize the apparent height of the existing or future
structures, decrease the grade at existing access points, increase the amount
of landscaping on the surface of the structure, and hide service functions
below grade.
Resolution No. #15, Series of 2005
4
INTRODUCED, READ, APPROVED AND ADOPTED this 6th day of
September, 2005.
,~"F VAI(
-~
1,
r~~t•Q' Rodney Slifer, Mayor,~l'own of Vail
.~~
~,_ CO~-
ATTE -"~
~l :,
~ / ~~~ ~c-~~~~
Lorelei Donaldson, Town Clerk
Resolution No. #15, Series of 2005
i
~ y:
•
RESOLUTION N0.16
SERIES 2005
A RESOLUTION SUBMITTING TO THE REGISTERED ELECTORS
OF THE TOWN OF VAIL, COLORADO, AT A REGULAR
MUNICIPAL ELECTION HELD ON NOVEMBER 8, 2005, A BALLOT
ISSUE CONCERNING THE ISSUANCE OF BONDS AND AN
INCREASE IN TAXES TO FINANCE A CONFERENCE CENTER;
AND PROVIDING OTHER DETAILS RELATING THERETO
WHEREAS, the Town of Vail, in the County of Eagle and State of Colorado (the "Town"), is
a home rule municipal corporation duly organized and existing under laws of the State of Colorado
(the "State") and the Town Charter (the "Charter"); and
WHEREAS, the members of the Town Council of the Town (the "Council") have been duly
elected and qualified; and
WHEREAS, the Council hereby finds and determines that it is in the public interest to
finance the construction of a conference center in the Town and that it is necessary to increase taxes
and issue bonds for such purpose; and
• WHEREAS, Article X, Section 20 of the Colorado Constitution, also referred to as the
Taxpayer's Bill of Rights ("TABOR"), requires voter approval for any new tax, any increase in any
tax rate, the creation of any debt, and the spending of certain funds above limits established by
TABOR; and
WHEREAS, TABOR requires the Town to submit ballot issues (as defined in TABOR) to
the Town's electors on limited election days before action can be taken on such ballot issues; and
WHEREAS, the Town will hold its regular municipal election on November 8, 2005 (the
"Election"); and
WHEREAS, November 8, 2005, is one of the election dates at which ballot issues maybe
submitted to the Town's electors pursuant to TABOR; and
WHEREAS, pursuant to Section 2.3 of the Charter, the Council hereby determines that~the
Election shall be held and conducted as a polling place election in accordance with Article 10 of
Title 31, Colorado Revised Statutes ("C.R.S.") (the "Municipal Election Code"); and
WHEREAS, the Council is of the opinion that the Town should seek voter approval to
increase taxes and increase debt for the purpose provided in this resolution; and
• Resolution No. 16, Series of 2005
•
WHEREAS, it is necessary to set forth certain procedures concerning the conduct of the
Election.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF
VAIL, COLORADO:
Section 1. Unless otherwise defined herein, all terms used herein shall have the
meanings defined in TABOR and in Section 31-10-102, C.R.S.
Section 2. Pursuant to Section 31-10-105, C.R.S. and Section 2.5 ofthe Charter,
the Election Commission of the Town shall perform all acts required or permitted by law in
connection with the Election, which Election shall be held and conducted as an independent polling
place election.
Section 3. Pursuant to the applicable laws of the State and the Charter, the
Council hereby determines that the following ballot issue is hereby referred to the registered electors
of the Town and shall appeaz on the ballot of the Town of Vail, Colorado, at the Election:
SHALL TOWN OF VAIL DEBT BE INCREASED $7,640,000 WITH A
REPAYMENT COST OF $16,685,000 AND SHALL TOWN TAXES BE
INCREASED $1,950,000 ANNUALLY IN THE FIRST FULL YEAR OF
• COLLECTION AND BY WHATEVER ADDITIONAL AMOUNTS AS ARE
RAISED ANNUALLY THEREAFTER FROM THE LEVY OF AN ADDITIONAL
LODGING TAX OF NOT MORE THAN 1.5% (WHICH WILL RESULT IN A
TOTAL LODGING TAX IMPOSED BY THE TOWN OF NOT MORE THAN
3.0%) TO FINANCE, OPERATE AND MAINTAIN A CONFERENCE CENTER
SUBJECT TO THE FOLLOWING LIMITS OR CONDITIONS:
• IF THIS QUESTION IS APPROVED BY THE VOTERS, THE
AUTHORITY TO ISSUE DEBT PURSUANT TO THI5 QUESTION
TOGETHER WITH THE AUTHORITY TO ISSUE DEBT
PURSUANT TO QUESTION 2B APPROVED BY THE VOTERS
ON NOVEMBER 5, 2002 WILL TOTAL $57,700,000 WITH A
REPAYMENT COST OF $112,295,000; AND
• IF THIS QUESTION IS APPROVED BY THE VOTERS, THE
SUNSET FOR THE LODGING TAX AND SALES TAX LEVIED
PURSUANT TO 2002 QUESTION 2B IS REPEALED AND SUCH
TAXES AND THE LODGING TAX LEVIED PURSUANT TO
THIS QUESTION SHALL NOT TERMINATE UNTIL
TERMINATED BY LEGISLATIVE ACTION BY THE TOWN;
AND
Resolutlon No. 16, Series of 2005 2
•
• IF THIS QUESTION IS NOT APPROVED BY THE VOTERS, THE
AUTHORITY TO ISSUE DEBT PURSUANT TO 2002 QUESTION
2B SHALL TERMINATE IMMEDIATELY AND THE
AUTHORITY TO LEVY TAXES PURSUANT TO 2002
QUESTION 2B SHALL TERMINATE EFFECTIVE JANUARY I,
2006, AND THE TOWN COUNCIL SHALL EITHER REFUND
ANY REMAINING REVENUES FROM SUCH TAXES
PURSUANT TO SUCH REFUND METHODOLOGY AS THE
TOWN COUNCIL DETERMINES OR SUBMIT A QUESTION TO
THE VOTERS ON HOW SUCH REVENUES SHALL BE USED;
AND
• THE LODGING TAX AND SALES TAX LEVIED PURSUANT TO
2002 QUESTION 2B AND THE I.5% LODGING TAX
AUTHORIZED PURSUANT TO THIS QUESTION ARE
CURRENTLY ANTICIPATED TO BE SUFFICIENT TO PAY
DEBT SERVICE ON THE BONDS AND APPROXIMATELY
$1,500,000 ANNUALLY TO PAY THE COSTS OF OPERATING
AND MAINTAINING THE CONFERENCE CENTER; AND
• IN ORDER TO FINANCE, OPERATE AND MAINTAIN THE
CONFERENCE CENTER, THE TOWN COUNCIL MAY LEVY,
INCREASE OR DECREASE THE LODGING TAX APPROVED
BY THIS QUESTION FROM TIME TO TIME SO LONG AS IT
DOES NOT EXCEED THE RATE OF 1.5%,; AND
• THE COUNCIL EXPECTS THAT THE RATE OF THE LODGING
TAX APPROVED BY THIS QUESTION TO BE IMPOSED
BEGINNING IN 2006 WILL BE APPROXIMATELY .79%;
PROVIDED THAT THE ACTUAL RATE WILL BE
DETERMINED BASED UPON THE SALE OF THE DEBT
AUTHORIZED BY THIS QUESTION AND 2002 QUESTION 2B;
.AND
• SUCH LODGING TAX SHALL BE LEVIED ON THE PRICE PAID
FOR THE RENTING OR LEASING OF LODGING FOR LESS
THAN THIRTY CONSECUTIVE DAYS; AND
• SUCH DEBT SHALL BE EVIDENCED BY THE ISSUANCE OF
REVENUE BONDS PAYABLE FROM THE LODGING TAX
AUTHORIZED BY THIS QUESTION AND THE LODGING TAX
AND SALES TAX AUTHORIZED IN 2002 QUESTION 2B; SUCH
. Resolution No. 16, Series of 2005 3
•
BONDS TO BE SOLD IN ONE OR MORE SERIES ON TERMS
AND CONDITIONS AND WITH SUCH MATURrt tr S AS
PERMIt t ~D BY LAW AND AS THE TOWN COUNCIL MAY
DETERMINE, INCLUDING PROVISIONS FOR REDEMPTION
OF THE BONDS PRIOR TO MATURITY WITH OR WITHOUT
PAYMENT OF A PREMIUM OF NOT MORE THAN THREE
PERCENT OF THE AMOUNT SO REDEEMED; AND
THE PROCEEDS OF SUCH DEBT AND TAXES AND ANY
EARNINGS FROM 'THE INVESTMENT OF SUCH PROCEEDS
AND REVENUES BE COLLECTED AND SPENT AS A VOTER
APPROVED REVENUE CHANGE UNDER ARTICLE X,
SECTION 20 OF THE COLORADO CONSTITUTION?
Section 4. If a majority of the votes cast on the question to authorize the bonds
and the levy of taxes submitted at the Election shall be in favor of issuance of the bonds and the levy
of taxes as provided in such question, the Town, acting through the Council, shall be authorized to
proceed with the necessary action to issue the bonds and levy the taxes in accordance with such
question. Any authority to issue the bonds and levy the taxes, if conferred by the results of the
Election, shall be deemed and considered a continuing authority to issue the bonds and levy the taxes
so authorized at any one time, or from time to time, and neither the partial exercise of the authority
so conferred, nor any lapse of time, shall be considered as exhausting or limiting the full authority so
conferred.
Section 5. The officers and employees of the Town are hereby authorized and
directed to take all action necessary or appropriate to effectuate the provisions of this resolution.
Section 6. All actions heretofore taken (not inconsistent with the provisions of
this resolution) by the Town. and the officers thereof, directed towards the Election and the objects
and purposes herein stated are hereby ratified, approved and confirmed.
Section 7. If any section, paragraph, clause or provision of this resolution shall
for any reason be held to be invalid or unenforceable, the invalidity or unenforceability of such
section, paragraph, clause or provision shall in no manner affect any remaining provisions of this
resolution, the intent being that the same are severable.
Section 8. All resolutions or parts of resolutions inconsistent herewith are hereby
repealed to the extent only of such inconsistency. This repealer shall not be construed to revive any
resolution or part of any resolution heretofore repealed.
Resolution No. 16, Series of 2005 4
INTRODUCED, READ, APPROVED AND ADOPTED this September 6, 2005.
C?
.~ :.
' Rodney Slifer, Ma~or
(SEAL) E ~,
,`
~~
,,.. _,
`~ CpLOC~~'G,
ATTEST: ~.,,,,,
Lo~elei Donal son, Town Clerk
•
• Resolution No. 16, Series of 2005 $
STATE OF COLORADO )
COUNTY OF EAGLE )SS.
TOWN OF VAIL )
I, the Town Clerk of the Town of Vail, Colorado, do hereby certify that:
1. The foregoing pages are a true, perfect and complete copy of a resolution (the
"Resolution") passed and adopted by the Town Council (the "Council") constituting the governing
board of the Town of Vail, Colorado (the "Town"), at a regular meeting of the Town held at the
Town Hall on September 6, 2005, convening at the hour of 6:00 p.m. as recorded in the regular book
of official records of the proceedings of said Town of Vail kept in my office.
2. The Resolution was duly moved and seconded and the Resolution was adopted
at the meeting of September 6, 2005, by an affirmative vote of a majority of the members of the
Council as follows:
•
Name "Yes" "No" Absent I Abstain
Rod Slifer ~ I
Dick Cleveland / I
Diana Donovan I I / I I
Kim Ruotolo I /
Kent Logan
Greg Moffet I /
Farrow Hitt I /
• Resolution No. 16, Series of 2005 6
•
3. The members of the Council were present at such meeting and voted on the
passage of such Resolution as set forth above.
4. The Resolution was arr~ ~,ved and authenticated by the signature of the Mayor,
sealed with the Town seal, attested by the Town Clerk and recorded in the minutes of the Council.
There are no bylaws, rules or regulations of the Council which might prohibit
the adoption of said Resolution.
6. The notice of the meeting of September 6, 2005, in the form attached hereto as
Exhibit A. was posted at the Town Hall, not less than 24 hours prior to the meeting in accordance
with law.
WITNESS my hand and the seal of said Town affixed this September 6, 2005.
Oho-~C.#',~~~
• ~ Town C erk
E- ---~
(SEAL) ,~o:;:::.:. ;.~q~
~~~I, ,
c0~ O~p~~
• Resolution No. 16, Series of 2005 ~
•
EXHIBIT A
(Attach Form of Meeting Notice)
•
• Resolution No. 16, Series of 2005
EXHIBIT A
TOWN COUNCIL
EVENING SESSION AGENDA
6:00 P.M. TUESDAY, SEPTEMBER 6, 2005
VAIL TOWN COUNCIL CHAMBERS
75 S. Frontage Road W.
Vail, CO 81657
NOTE: Times of items are approximate, subject to change, and
cannot be relied upon to determine at what time Council
will consider an item.
1. ITEMITOPIC: Citizen Input (10 min.)
2. ITEMITOPIC: Consent Agenda. Approval of 08.02.05 and
08.16.05 Minutes. (5 min.)
3. Greg Hall ITEM/TOPIC: Construction Update. (5 min.)
4. Russ Forrest ITEM/TOPIC: Resolutions 16, Series of 2005 setting forth
language for a ballot question on November 82h, 2005 to raise the
lodging tax to pay for the construction and operation of the Vail
Conference Center and Resolution 17, Series of 2005 expressing
the Town Council's intent in developing a threshold for collecting
up to 1.5% in additional lodging tax for the conference center. (30
min.)
ACTION REQUESTED OF COUNCIL: Approve, disapprove, or
modify:
A) Resolution 16, Series of 2005 which sets forth
language to have a ballot measure on November 82h
which would ask voters to increase the lodging tax for
the conference center, and
B) Resolution 17, Series of 2005 which would state the
Town Council's intent on collecting up to 1.5% of new
lodging tax for the conference center.
BACKGROUND RATIONALE: On August 3152, the Conference
Center Advisory Committee met to review the Guaranteed
Maximum price from Mortenson Construction and proposed ballot
language. At that meeting the Committee unanimously
recommended that the Town Council approve Resolution 16 and
17. Resolution 16 would give the Town Council the authority to
collect up to 1.5% in new lodging tax to pay for the construction
and operation of the conference center. Resolution 17, if
approved, would express the Town Council intent on creating a
trigger mechanism for collecting up to 1.5% in new lodging tax.
5. Bill Gibson ITEM/TOPIC: An appeal, pursuant to Section 12-3-3, Appeals, Vail Town
Code, of the Town of Vail Planning and Environmental Commission's
approval of a variance from Section 12-6C-6, Setbacks, Section 12-6C-8,
Density Control, and Section 12-6C-9, Site Coverage, pursuant to
Chapter 12-17, Variances, Vail Town Code, to allow for a residential
addition, located at 1448 Vail Valley Drive/Lot 18, Block 3, Vail Village
Filing 1, and setting forth details in regard thereto. (30 min.)
ACTION REQUESTED OF COUNCIL: Uphold, overturn, or modify the
Planning and Environmental Commission's approval of variance
applications pursuant to Section 12-3-3, Appeals, Vail Town Code.
BACKGROUND RATIONALE: On July 25, 2005, the Planning and
Environmental Commission approved a variance from Section 12-6C-6,
Setbacks, Section 12-6C-8, Density Control, and Section 12-6C-9, Site
Coverage, pursuant to Chapter 12-17, Variances, Vail Town Code, to
allow for a residential addition at 1448 Vail Valley Drive. The appellant,
Vail Town Council, "called-up" the Planning and Environmental
Commission's decision at its August 2, 2005, public hearing. Please
refer to the staff memorandum to the Planning and Environmental
Commission dated July 25, 2005, for additional information.
STAFF RECOMMENDATION: Staff recommends the Town Council
upholds the Planning and Environmental Commission's approval of a
variance from Section 12-6C-6, Setbacks, Vail Town Code, to allow for a
residential addition at 1448 Vail Valley Drive, subject to the findings in
the staff memorandum dated July 25, 2005.
However, Staff recommends the Town Council overturns the Planning
and Environmental Commission's approval of a variance from Section
12-6C-8, Density Control, and Section 12-6C-9, Site Coverage, Vail
Town Code, to allow for a residential addition at 1448 Vail Valley Drive,
subject to the findings in the staff memorandum dated July 25, 2005.
6. Greg Hall ITEMITOPIC: Discussion of Village Streetscape Mill Creek Court
Building Construction contract Award for 2005-2006. (15 min.)
ACTION REQUESTED OF COUNCIL: Approve/ Deny Village
Streetscape Mill Creek Court Building Project Award.
BACKGROUND RATIONALE: The Town of Vail and Mill Creek Court
Condominium Association cooperatively have designed and have
received a proposal for construction improvements in Vail Village..The
council was advised were under negotiations and it was felt to finishing
the streetscape in this area made since. Staff has negotiated a cost
sharing of the improvements with the condominium association. The
association board has agreed to the proposal. These improvements
include the replacement of planters, steps, landscaping, installation of
snowmelt system and final streetscape treatments in addition the
association is having their trash dumpster upgraded. The Town of Vail
has reviewed the proposal and with the contractor.
The Project is scheduled to begin Construction later this year and finish
next spring. Staff recommends the council add the required additional
dollars to the supplemental budget to fund the town's portion of the
project. $ 200,000 from RETT and $50,000 from capital projects fund,
the remainder of the project will be funded by the Mill Creek Court
Condominium Association ($205,000) and from the existing Streetscape
budget ($95,000). Direct the Town Manager to execute a change order
to the streetscape contract with B & B Excavating for up to $550,000.
STAFF RECOMMENDATION: Supplement the Village Streetscape
budgets by $ 200,000 to the RETT portion and $ 50,000 from the
Capital projects fund and direct the Town Manager to execute a
change order with B&B Excavating up to $550,000 to construct the
streetscape improvements around Mill Creek Court Building.
7. Gregg Barrie ITEM/TOPIC: Gore Valley Trail Improvements at Cascade Village
Projects. (15 min.)
ACTION REQUESTED OF COUNCIL: Town Staff is recommending the
following:
7. Approve a total project budget of $645,000 with the understanding
that Town will be reimbursed for the cost of Project 1 through the
Holy Cross Energy Enhancement Funds.
2. Award the Gore Vallev Trail Improvements at Cascade Villaae
project, in whole, to 8 & 8 Excavating in the amount of $ 574,583.87
with the understanding that a portion of the work will be completed in
the spring.
BACKGROUND RATIONALE: Town Staff have been working on
multiple projects in the Cascade Village area for the past several years.
While CVMD has postponed their projects previously scheduled for this
fall, the Town is in a position to perform much needed maintenance work
to the Gore Valley Trail, starting on Monday, September 12. A portion of
the work would be completed this fall, with the remainder of the work
occurring in the spring of 2006.
STAFF RECOMMENDATION: Staff Recommends approval of the
budget and award of the contract as indicated above.
8. Russ Forrest ITEM/TOPIC: West Vail Sub-Area Plan Process. (15 min.)
BACKGROUND RATIONALE: The purpose for creating a West
Vail Sub-Area Plan is to provide an improved framework for
decision making in the West Vail commercial area by providing
direction on appropriate uses, bulk & mass, along with other
development parameters. It would also help to identify other
public improvements which developers should consider upon
submitting proposals to the Community Development Department,
such as affordable housing, retail uses, parking and traffic
circulation improvements.
The Town Council has in previous meetings identified a need for
the West Vail area to have asub-area plan created for a well
thought out redevelopment of West Vail.
9. Bill Gibson ITEM/TOPIC: Second reading of Ordinance No. #17, Series of
2004, an ordinance amending Special Development District #4,
Cascade Village, to allow for the creation of Development Area E,
located at Tract K, Glen Lyon Subdivision, and setting forth details
in regard thereto. (5 min.)
ACTION REQUESTED OF COUNCIL: Approve, approve with
modifications, deny, or table the second reading of Ordinance No.
17, Series of 2004. The applicant is requesting that the Town
Council table the second reading of Ordinance No. #17, Series of
2004, to October 4, 2005.
BACKGROUND RATIONALE: On July 12, 2004 the Town of Vail
Planning and Environmental Commission voted 4-2 to forward a
recommendation of approval, with conditions, for the proposed
amendments to Special Development District #4, Cascade Village.
On August 3, 2004 by a vote of 7-0 the Town Council approved
the first reading of Ordinance No. 17, Series of 2004, with a
condition that the applicant, Vail Resorts, resolve any issues
related to the Protective Covenants of Glen Lyon Subdivision,
prior to the second reading of this ordinance.
On August 17 and October 5, 2004; January 4, May 3, June 21,
and August 4, 2005, and the Town Council tabled the second
reading of Ordinance No. 17, Series of 2004, to allow the
applicant additional time to resolve issues related to the protective
covenants. The outstanding protective covenant issues have not
yet been resolved; therefore, Vail Resorts is requesting that the
second reading of Ordinance No. 17, Series of 2004, again be
tabled to a future Town Council meeting.
STAFF RECOMMENDATION: Table the second reading of
Ordinance No. #17, Series of 2004, to October 4, 2005.
10. Judy Camp ITEM/TOPIC: Second Reading of Ordinance No. #19, Series
2005, an Ordinance making supplemental appropriations to the
2005 Budget, Supplemental Appropriation No. 2. (10 min.)
ACTION REQUESTED OF COUNCIL: Approve or approve with
amendments, Ordinance No. #19, Series 2005, on second
reading.
BACKGROUND RATIONALE: To be provided in separate memo
STAFF RECOMMENDATION: Approve Ordinance No. #19,
Series 2005, on second reading.
11. George Ruther ITEM/TOPIC: Resolution No. #15, Series of 2005, a resolution
expanding the boundary of the Study Area of the Lionshead
Redevelopment and amending Chapter 5. Detailed Plan
Recommendations. Lionshead Redevelopment Master Plan, to
include Section 5.19 Evergreen Lodae at Vail. and setting forth
details in regard thereto. (30 min.)
ACTION REQUESTED OF COUNCIL: Approve, approve with
modifications, or deny Resolution No. 15, Series of 2005.
BACKGROUND RATIONALE: On June 27, 2005, the Planning
and Environmental Commission held a public hearing to discuss a
text and map boundary amendment to the Lionshead
Redevelopment Master Plan. The purpose of the amendment is to
include the Evergreen Lodge in the Study Area of the Lionshead
Redevelopment Master Plan. Upon discussion of the amendment,
the Commission voted unanimously to table the final hearing on
the proposed amendment to a future meeting date. The purpose
of the tabling was to allow staff and the applicant an opportunity to
address the various questions of the Commission prior to the
Commission taking action on the request. The Commission
specifically requested that any amendments to Chapter 5.
Detailed Plan Recommendations, should make reference to the
following:
• Vehicular and pedestrian access
• Maintenance of the existing accommodation units on the site
• Impacts on Middle Creek
• South Frontage Road improvements
• Physical relationship to the Vail Valley Medical Center
• Relationship to the proposed Vail Conference Center
• Need for architectural improvements
• Loading and delivery improvements
• Pedestrian connection to West Meadow Drive
On July 17, 2005, the Town of Vail Community Development
Department requested a work session with the Vail Town Council
to discuss the merits of preparing an amendment to the Lionshead
Redevelopment Master Plan that would expand the boundary of
the Plan to include the Evergreen Lodge. Upon discussing the
possible merits of the amendment, the Commission directed staff
to prepare an amendment for further Commission and Town
Council consideration.
On August 22, 2005, the Planning and Environmental Commission
voted 6-0-0 to forward a recommendation of approval of the
proposed text and boundary amendment to the Lionshead
Redevelopment Master Plan to the Vail Town Council. In
forwarding a recommendation of approval, the Commission
expressed the need for Section 5.19.3, Preservation of Existing
Accommodation Units, of the proposed amendment to place more
emphasis on no net loss of accommodation unit square footage,
creation of quality hotel rooms, and the maintenance of the
number of existing "hot beds", rather than placing so much focus
on merely maintaining the number of existing rooms. Resolution
No. 15 addresses the Commissions recommendation with
revisions shown in str~leeeg# and bold.
STAFF RECOMMENDATION: The Community Development
Department recommends that the Vail Town Council approves
Resolution No. 15, Series of 2005, as presented.
12. ITEM/TOPIC: Town Manager's Report. (10 min.)
13. ITEM/TOPIC: Adjournment. (9:00 p.m.)
NOTE UPCOMING MEETING ART TIMES BELOW:
(ALL TIMES ARE APPROXIMATE AND SUBJECT TO CHANGE)
THE NEXT VAIL TOWN COUNCIL REGULAR EVENING MEETING
WILL BEGIN AT 6 P.M. TUESDAY, SEPTEMBER 20, 2005, IN VAIL TOWN COUNCIL
CHAMBERS
Sign language interpretation available upon request with 24-hour notification. Please
call 479-2106 voice or 479-2356 TDD for information
•
RESOLUTION N0.17
SERIES 2005
A RESOLUTION EXPRESSING THE INTENTION OF THE TOWN
COUNCIL WITH RESPECT TO THE IMPLEMENTATION OF THE
LODGING TAX WHICH I5 BEING SUBMl t i ~;D TO THE
ELECTORS OF THE TOWN AT A REGULAR MUNICIPAL
ELECTION TO BE HELD ON NOVEMBER 8, 2005 AND WITI3
RESPECT TO OTHER MATTERS RELATED TO i n~, CONFERENCE
CENTER.
WHEREAS, the Town of Vail, in the County of Eagle and State of Colorado (the "Town"), is
a home rule municipal corporation duly organized and existing under laws of the State of Colorado
(the "State") and the Town Charter (the "Charter"); and
WHEREAS, the members of the Town Council of the Town (the "Council") have been duly
elected and qualified; and
WHEREAS, the Council has determined to submit aballot issue to the electors of the Town
on November 8, 2005, which authorizes a lodging tax increase to provide a portion of the revenues to
• finance, operate and maintain a conference center in the Town; and
WHEREAS, the ballot issue will permit the Council to levy, increase or decrease a lodging
tax from time to time so long as it does not exceed the rate of 1.5%; and
WHEREAS, the Council wishes to express its present intention as to (1 } when the tax will be
levied, increased or decreased and (2) that no revenues of the Town will be used to support the
conference center other than the lodging tax being submitted at the November 8, 2005 election, the
lodging tax and sales tax levied pursuant to Question 2B (approved at the 2002 election), and the
revenues derived from the operation of the conference center.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF
VAIL, COLORADO:
Section 1. If the electors of the Town approve the ballot issue being submitted at
the election on November 8, 2005, the Council presently intends to levy, increase or decrease the
lodging tax approved at such election for the purpose of financing, operating and maintaining the
conference center up to the maximum rate of 1.5% (which will result in a total lodging tax imposed
by the Town of not more than 3.0%). Of the maximum rate of 1.5%, it is currently expected that the
Council will need to levy a lodging tax to take effect on a yet to be determined date during 2006 at a
rate of .79% in order to secure the payment of the bonds to be issued to finance the conference
center. The amount of taxes required to be pledged to secure payment of the bonds is expected to be
enough to pay the debt service due on the bonds in each yeaz as well as a portion of the costs of
Resolution No. 17, Series of 2005 1
•
operating and maintaining the conference center. The actual rate to be pledged to secure the payment
of the bonds and the date it will take effect will be determined when the bonds aze mazketed and be
based upon the requirements of credit rating agencies and the bond insurer, if any. When the cash
reserves available to the Town and derived from the lodging tax approved at such election and the
lodging tax and sales tax levied pursuant to Question 2B (approved at the 2002 election) exceeds
$5,000,000, the rate of the tax shall be decreased to only the rate required to be levied by any
covenants made to the holders of the bonds issued to finance the conference center. The rate of the
tax may be increased up to the maximum rate of 1.5% by the Council without further voter approval
when such reserves aze less than $5,000,000. In no event shall the rate of tax be decreased below the
level required to be levied in any covenants made to the holders of the bonds issued to finance the
conference center. For purposes of this resolution, cash reserves do not include any debt service
reserves required to be maintained by covenants made to the holders of the bonds issued to finance
the conference center. The amount of cash reserves shall be determined by the Finance Director as
of the first business day in July of each year beginning July of 2008. It is intended that any
adjustment of the tax rate shall occur on the next January 1.
Section 2. The Council intends that the costs of financing, operating and
maintaining the conference center will be paid solely from the lodging tax being submitted at the
November 8, 2005 election, the lodging tax and sales tax levied pursuant to Question 2B (approved
at the 2002 election), and the revenues derived from the operation of the conference center and that
• no other Town revenues will be used for such purposes.
Section 3. This resolution may be amended or repealed by the Council at any
time..
Section 4. If any section, paragraph, clause or provision of this resolution shall
for any reason be held to be invalid or unenforceable, the invalidity or unenforceability of such
section, pazagraph, clause or provision shall in no manner affect any remaining provisions of this
resolution, the intent being that the same are severable.
Section 5. All resolutions or parts of resolutions inconsistent herewith are hereby
repealed to the extent only of such inconsistency. This repealer shall not be construed to revive any
resolution or part of any resolution heretofore repealed.
i Resolution No. 17, Series of 2005 2
INTRODUCED, READ, APPROVED AND ADOPTED this September 6, 2005.
•
•
•• •••%
• •.
~sEAX.~ SEAL
~•.
~o~o~o~~
A i i SST:
(~ ~~ ^ [~`
r ei Donaldson, Town Clerk
Resolu4on No. 17, Series of 2005
~ Rodney Slifer,l~ay`or
RESOLUTION N0.18
SERIES OF 2005
A RESOLUTION SUPPORTING REFERENDUM lA (ESTABLIS~~~1G A HOME
RULE CHARTER COMMISSION FOR Y nr. PURPOSE OF DEVELOPING A
HOME RULE CHARTER)
WHEREAS, the Board of County Commissioners for Eagle County ("Board") as
authorized by section 30-11-502, C.R.S., has placed before the registered electors the
question of whether a Home Rule Charter Commission ("Charter Commission"} should
be established for the purpose of developing a proposed Home Rule Charter for Eagle
County; and
WHEREAS, the Board is authorized by section 1-45-117(1)(b)(III)(A) to pass a
resolution taking a position of advocacy on a referred measure; and
WHEREAS, proposed Referendum lA would r.~, ride a comprehensive review
process for possible improvement and reorganization of the current form of county
government in Eagle County; and
WHEREAS, the Vail Town Council wishes to support the passage of Referendum
1 A to begin this comprehensive review process not only to ensure the most effective form
of local government, but to also promote the progressive devel.,~..~ent and discussion of
• alternative governmental structures that maybe available through home rule; and
WHEREAS, the Vail Town Council is not advocating a position as to the final
adoption of a yet to be determined charter for Eagle County. Rather, the Town Council is
advocating that the review and discussion process commence through the passage of
Referendum 1 A.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN
OF VAIL THAT:
The Town Council hereby supports and encourages voters to ayy~.,ve proposed
Referendum 1 A (Establishing a Home Rule Charter Commissioner for the Purpose of
Developing a Home Rule Charter) at this year's coordinated election to be held on
November 1, 2005.
•
Resolution No. 18, Series of 2005
•
2003.
INTRODUCED, READ, APPROVED AND ADOPTED this 18TH day of October,
O'~ i, O F `~
~ .~~A
SEAL
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Ai i~S
By. _ ~~,~~' , gib.
Lorelei Donaldson, Town Clerk
Rodney Slif~r, Ma r
r~
•
Resolution No. 18, Series of 2005 2
•
•
RESOLUTION NO. 19
SERIES OF 2005
A RESOLUTION AUTHORIZING THE TOWN MANAGER TO ENTER INTO AN
INTERGOVERNMENTAL AGREEMENT WITH THE COLORADO DEPARTMENT OF
TRANSPORTATION FOR MAINTENANCE OF I-70 FRONTAGE ROADS FOR 11.24
MILES, FROM MILEPOST 172.2 TO MILEPOST 180.3; AND SETTING FORTH
DETAILS RELATING THERETO.
WHEREAS, the Town of Vail (the "Town") has reviewed an Intergovernmental
Agreement (the "Agreement") proposed by the Colorado Department of Transportation
("C-DOT") for the maintenance of I-70 Frontage Roads; and
WHEREAS, Section 18(2)(a} and (b}, Article X{V of the Colorado Constitution,
Section 29-1-203, C.R.S., and Section 32-1-1001, C.R.S., .provide for the ability of the
Town and C-DOT to enter into contracts and agreements with one another to provide
intergovernmental services and facilities, when so authorized by their governing bodies;
and
WHEREAS, the Constitution and statutes of the State of Colorado permit and
encourage agreements between political subdivisions of the State, in order that the
inhabitants of such political subdivisions may thereby secure high quality governmental
services.
NOW, THERFORE, BE IT RESOLVED BY THE TOWN COUNC{L OF THE
TOWN OF VAIL, COLORADO THAT:
1. The Town Manager is hereby authorized to enter into the Agreement, on
behalf of the Town, with C-DOT in the form approved by the Town
Attorney.
2. The Town Manager and the Town staff are authorized to take whatever
steps are necessary to execute the Agreement and to carry out the
Town's obligations pursuant thereto.
3. This resa{ution sha{{ take effect immediately upon its passage.
INTRODUCED, READ, APPROVED AND ADOPTED this 18th day of October,
•
2005.
''•• -~
•.
.,~
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coCO~,DO.
ATTEST: '' ~.
Y~
rel~i Donaldson, Town Clerk
ice' ~'~
-- ~~~
Rodney Slifer`, Mayod
~"~----
•
Resolution No. 20
Series of 2005
Failed
..
U
RESOLUTION N0.21
Series of 2005
A RESOLUTION AMENDING A CERTAIN SECTION OF THE VAIL VILLAGE URBAN
DESIGN GUIDE PLAN TO ALLOW FOR CHANGES TO THE
ARCHITECTURAULANDSCAPING CONSIDERATIONS FOR COLORS, AND
SETTING FORTH DETAILS IN REGARD THERETO.
WHEREAS, on June 11, 1980, the Vail Town Council (the "Town Council")
adopted the Vail Village Urban Design Guide Plan (the "Master Plan"); and
WHEREAS, the Master Plan was initiated by the Town of Vail to direct functional
and aesthetic objectives within Vail Village; and
WHEREAS, Section 12-7B-20(B), Vail Village Urban Design Plan, of the Vail
Town Code outlines a procedure for amending the Master Plan; and
WHEREAS, pursuant to Section 12-7B-20(B), Vail Village Urban Design Plan, of
the Vail Town Code, the Vail Chamber and Business Association has proposed an
amendment to the Master Plan; and
WHEREAS, the Town of Vail Design Review Board has held a public hearing on
the proposed amendment on October 19, 2005, and has forwarded a recommendation
of approval of the amendment to the Town Council; and
• WHEREAS, the Town of Vail Planning & Environmental Commission has held a
public hearing on the proposed amendment on October 24, 2005, and has forwarded a
recommendation of approval with modifications of the amendment to the Town Council;
and
WHEREAS, the purpose of this amendment is to amend the language of the
Master Plan to allow for the incorporation of a wider range of facade colors within the
Village; and
WHEREAS, the Town Council finds that the proposed amendment improves and
enhances the effectiveness of the Master Plan without negatively affecting the goals,
objectives, and policies prescribed by the Master Plan.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE
TOWN OF VAIL, COLORADO:
1. The Town Council of the Town of Vail hereby amends the Vail Village
Urban Design Guide Plan as follows:
The amendments to the text of the Vail Village Urban Design Guide Plan are
indicated in BOLD /TAL/CS (additions) and ~1! ICE
(deletions).
(in part)
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The intent of these regulations regarding color shall be to provide greater
latitude in fhe use of co/or in Vail Village in order to create visual interest
and to enliven the area. Colors used should retain a discernible
consistency within a general range of colors relating well to the colors
found in the surrounding mountain backdrop of Vail, but need not be
specifically found in that environment.
All colors used shall relate to the colors of the natural materials found on
the buildings like wood tones, slate roof colors, stone colors and the like.
Additionally all building colors shall work with the colors of the buildings in
proximity as well as with all natural landscape materials found nearby.
While there is no restriction per se on specific hues, primary colors of high
chroma shall not be used on building surfaces but can be used in a limited
fashion for accents. Body colors, both siding and stucco, shall be rich and
lively but must be less chromatic shades which relate to natural colors and
can be either light or dark. All stucco shall have a flat finish.
Generally, to avoid both "busyness'; and weak visual interest, the variety
of major wall colors (and materials -excluding glass) should not exceed
four nor be less than two.
A color/materia/change between the ground floor and the upper floors is a
common and effective reinforcement of the pedestrian scale of the street.
High chroma colors can be used for signage, accents, doors, canopies,
wall graphics and other similar elements as long as they do not dominate
either the building they are used on, the adjacent buildings, or the
streetscape (see E. Accent E/ements).
The color schemes for all properties shall be considered on a case by case
basis.
2
~ ~ ~
2005.
INTRODUCED, READ, APPROVED AND ADOPTED this 1$' day of November,
F V,q /~~
~~~~ Rodney Slifer, May~h, Town of Vaii
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~:~ ~l ORP
•
•
ATTEST: ~
lei onaldson,
Town Clerk
3
r:
PUBLIC NOTICE
,1
RESOLUTION N0.22, SERIES OF 2005
OPP051TION TO HOUSE BILL 4241
Whereas. the Town of Vail Gouncil and Town of
Vail citizens are concerned and astonished by the
proposed amendments to the 1872 Mining Law, in-
cluded m the House Reconciliation Bill 4241,
passed by the House of Representatives and sent
to the United States Senate for approval on No-
vember 18, 2005. This Bill's miscellaneous
amendments relating to mining will eliminate exist-
ing requirements requiring prool That lands being
patented for mining claims have minerals that will
actually be mined. This Is so broadly dehneu in
Section 6204 of the Bill that developers, for exam-
ple, could buy fetleral land for as low as $1,000 per
acre or fair market value, Without regard to the
mineral deposits in the land or use of such land for
mineral activities, then "flip' it quickly for develop-
ment projects such as trophy homes. subdivisions
or commercial development. The Town of Vail
Council agrees with the Denver Post editorial of
November 10, 2005, stating this proposal is "an
egregious disregard for the public interest."
Whereas. the Town of Vail has historically
worked closelyy with the Fetleral Government
Through the U. S. Forest Service concerning mutual
land interests around the Town of Vail. In 1937 the
Town signed an agreement with the U. S. Forest
Service called the Town of Vail - U. S. Forest Serv-
ice Land Ownership Adjustment Agreement, which
committed the town to de-annex all federal lands
within the town boundary. The U.S. Forest Serv
ice committed to maintain U.S. Forest System
lands around the Town for public recreational use
and natural resource protection. Therefore. since
1997 there are no U,S. Forest Service lands within
the Town of Vail, resulting in the U. S. Forest Serv-
ices working diligently to protect federal lands atlla-
cent to Vail from private development. This Bill
could potentially violate the Town of Veil agree-
mentwith the U.S. Forest Service.
Whereas, according the Denver Posl editorial,
nearly 24 million acres of federal land in Colorado
would become eligible for sale to the public. Pas-
sage of the proposed amendments to the Mining
Law would be devastating to the Town of Vail and
the Stale of Colorado. II is vital that maintaining the
integrity of our natural resources is critical to Veil's
future and success as a year round international
resort destination. This Bill reaches tar beyond
what its sponsors claim to accomplish and is in di-
rect conflict with Colorado's legacy.
Whereas, the State of Colorado and specAically
the Town of Vail is a unique, beautiful, natural
place that draws visitors from throughout the Unil-
etl Slates antl the world for its pristine beauty and
outdoor recreation opportunities. The Town o1 Vail
vehemently opposes the House Bill 4241, that
would lead to an abuse of power over our lands
and we are prepared to work diligently with our
Senate colleagues and stakeY~olders to defeat it.
NOW, THEREFORE, BE 17 RESOLVED BV THE
TOWN COUNCIL OF THE TOWN OF VAIL: VO-
CIFOROUSLY OPPOSES HOUSE BILL 4241.
INTRODUCED, READ, APPROVED AND ADOPT-
ED this 6TH day of December, 2005.
Rodney Slifer, Mayor
ATTEST
ey
Lorelei Donaldson. Town Clerk
Published in the Vail Daily December 10. 2005
•
•
RESOLUTION NO. 23
Series of 2005
A RESOLUTION REPEALING AND RE-ENACTING RESOLUTION NO. 15, SERIES OF
2005, AMENDING CERTAIN SECTIONS OF THE LIONSHEAD REDEVELOPMENT
MASTER PLAN EXPANDING THE BOUNDARIES OF THE MASTER PLAN TO
INCLUDE THE EVERGREEN LODGE DEVELOPMENT SITE AND ADDING DETAILED
PLAN RECOMMENDATIONS FOR FUTURE DEVELOPMENT ON THE EVERGREEN
LODGE DEVELOPMENT SITE, AS PRESCRIBED IN CHAPTER 5 OF THE
LIONSHEAD REDEVELOPMENT MASTER PLAN, AND SETTING FORTH DETAILS IN
REGARD THERETO.
WHEREAS, on December 15, 1998, the Vail Town Council (the "Town Council")
adopted the Lionshead Redevelopment Master Plan (the "Master Plan"); and
WHEREAS, the Master Plan was initiated by the Town of Vail to encourage
redevelopment and new development initiatives within the Lionshead Study Area; and
WHEREAS, Section 2.8 of Master Plan outlines a procedure for amending the
Master Plan; and
• WHEREAS, pursuant to Section 2.8 of the Master Plan, the Town of Vail
Community Development Department has proposed an amendment to the Master Plan;
and
WHEREAS, the Town of Vail Planning & Environmental Commission has held a
public hearing on the proposed amendment on August 22, 2005, and has forwarded a
recommendation of approval with modifications of the amendment to the Town Council;
and
WHEREAS, the purpose of this amendment is to amend the boundaries of the
Master Plan to include the Evergreen Lodge development site and to add detailed plan
recommendations for future development on the Evergreen Lodge development site, as
prescribed in Chapter 5, Detailed Plan Recommendations, Lionshead Redevelopment
Master Plan; and
WHEREAS, on December 6, 2005, the Vail Town Council requested
amendments to Resolution No. 15, Series of 2005, to further clarify the Town's
development objectives for future development on the Evergreen Lodge development
site; and
WHEREAS, the Town Council finds that the proposed amendment improves and
enhances the effectiveness of the Master Plan without negatively affecting the goals,
objectives, and policies prescribed by the Master Plan.
•
• NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE
TOWN OF VAIL, COLORADO:
The Town Council of the Town of Vail hereby amends the Lionshead
Redevelopment Master Plan as follows:
The amendments to the text of the Lionshead Redevelopment Master Plan are
indicated in BOLD ITALICS (additions) and 1-TAN6s
(deletions). Amendments to Resolution No. 15, Series of 2005, are shown in
red and ~
(in part)
CHAPTER 5
Detailed Plan Recommendations
5.99 Evergreen Lodge at Vai!
The Evergreen Lodge is located directly east of the Middle Creek Stream
Tract and is bordered to the north by the South Frontage Road, to the south
by the Vail Valley Medical Center, and to the east by the WestStar Bank
office building. The lot area is 114,337 square feet or 2.625 acres. Physical
• improvements that currently exist on the site are a nine story stucco
hoteUcondominium structure with an adjoining two-story hotel facilities
wing, two below-grade structured parking garages, and paved surface
parking. The nine story structure has a predominant east-west orientation
along the southerly edge of the site while the facilities wing has anorth-south
orientation along the western edge of the site. The eastern parking garage is
utilized by the Vail Valley Medical Center for employee parking and is
accessed from the South Frontage Road through a shared entry/exit with the
WestStar Bank office building.
Opportunities for future improvements and upgrades include:
• Creation of more underground parking;
• Architectural enhancements consistent with the Lionshead
Architectural Design Guidelines;
• Improved exterior lighting;
• Coordinated vehicular access;
• Improved streetscape and landscaping along the South Frontage
Road;
• Improved pedestrian circulation; and
• Upgraded and expanded hotel accommodations and amenities
•
2
5.19.1 Pedestrian Access
Pedestrian access should be upgraded to provide a safe and attractive
pedestrian connection from the South 1~ rontage Road, through the Evergreen
Lodge development site, to West Meadow Drive with a continuous
pedestrian/bicycle path along the South Frontage Road, as depicted on Map
"1' herein. A gravel path connecting the South Frontage Road to the paved
pedestrian path located on the east side of the Dobson Ice Arena presently
exists along the south side of the property. This path, while functional,
receives little, if any, regular maintenance and includes a railroad tie set of
stairs that is unsafe and in disrepair.
There are currently no pedestrian improvements located along the South
Frontage Road. Though no improvements exist, a fair number of
pedestrians use the southerly edge of the South Frontage Road when entering
or exiting the site. In order to improve pedestrian access and safety, it is
recommended that future redevelopment of the site includes the construction
of a continuous pedestrian/bicycle path along the South Frontage Road and
that the existing gravel path along the southerly edge of the site be improved
and regularly maintained. Said improvements may necessitate the need for
pedestrian access easements through the site.
• 5.19.2 South Frontage Road Improvements and Vehicular Access
'['he site is currently accessed by vehicles off of the South Frontage Road
from two, full movement, two-way access points. The current location of
these access points relative to the existing access points i'or the WestStar
Bank Building, Vail Valley Medical C'cnter parking structure, Town of Vail
Municipal Buildings, and potential future access points to the Vail Valley
Medical Center and Vail International Building results in undesirable traffic
flow and turning movements creating traffic safety and capacity concerns.
.... 1~l:-_a
desrir-nbie~ehierr;~T:=nf~+F pktterns- tit„' •..~~:°° t~vemetrts~ist+n--Nte
vie-~it~. In keeping with Policy Objective 2.3.4, Improved Access and
Circulation, of the Plan, opportunities for public transportation and
vehicular circulation improvements should be explored in conjunction with
any future redevelopment of the site. Possible opportunities for
improvements may include, an improved mass transit stop,
relocated/reduced/shared points of entry/exiting, restricted access points,
acceleration/ deceleration lanes, greater sight distances, dedicated turning
lanes and landscaped medians, and the evaluation and possible
implementation of an intersection solution, such as a roundabout.
•
3
• 5.19.3 Preservation of Existing Accommodation Units
The Evergreen Lodge presently contains 128 short term accommodation
units. In addition, The Evergreen Lodge also contains a restaurant, lounge,
spa, and meeting space facilities incidental to the operation of the Lodge.
Given the importance and need for short term accommodations to the
vitality and success of the community, any future redevelopment of the site
shall ensure the preservation of short term accommodation units on the site.
The preservation of short term accommodations should focus on maintaining
the number of existing hotel beds and the amount of gross residential square
footage on the site as well as requiring the preservation of 128
accommodation units. With this in mind, the quality of the existing
accommodation unit room could be upgraded and the rooms could be
reconfigured to create multi-room suites. In no instance, however, should the
amount of gross residential floor area devoted to accommodation units be
reduced. In fact, opportunities i'or increasing; the number of accommodation
units beyond the existing 128 units already on-site should be evaluated
during the development review process. For example, the construction of
"attached accommodation units", as defined in the "Coning Regulations, could
significantly increase the availability of short term rental opportunities
within the building.
• 5.19.5 Impacts on Middle Creek Stream Tract
The Middle Creek Stream Tract lies to the west of the Evergreen Lodge. The
Tract is owned by the Town of Vail. The tract is heavily vegetated with
several substantial deciduous trees and a significant lower layer of
underbrush. Although the site borders the Middle Creek Stream Tract, there
is no significant amount of quality vegetation on the site, and the parcel lies
out of the 100-year flood plain. As currently configured, opportunities exist
to better recognize the benefits of creekside development. While the natural
riparian corridor of Middle Creek needs to remain protected and preserved,
the physical and visual relationships and references between adjacent
development and the stream tract should be strengthened. An opportunity
exists to create a significant connection between the Evergreen Lodge and
Middle Creek. Any use of Middle Creek for aesthetic or recreational
purposes, however, should be subordinate to the preservation of the natural
riparian corridor and its inherent natural character. The Middle Creek
Stream Tract may provide an opportunity for the construction of a
recreational path connecting the South Frontage Road to the existing
pedestrian paths at the Dobson Ice Arena.
•
4
• 5.19.6 Relationship to the Vail Valley Medical Center and the proposed Vail
Civic Center
Perhaps the most critical functional relationship is the need to coordinate
any future development on the Evergreen Lodge site with the Vail Valley
Medical Center. For example, every effort should be taken to ensure that
future development on the Evergreen Lodge site does not preclude the Vail
Valley Medical Center from reconfiguring the design of the medical center to
eliminate vehicular access off of West Meadow Drive and relocate the access
to the South Frontage Road. Additional opportunities may include, shared
service and delivery facilities, grading and site improvements, shared
parking, pedestrian pathway connections, and land exchanges.
5.19.7 Service and Delivery
Service and delivery functions for the hotel are accommodated on grade
from the westerly entrance. Service and delivery for the Evergreen Lodge
should occur underground or be hidden from public view. Service and
delivery truck turning maneuvering should not negatively impact traffic flow
on the South Frontage Road. With a realignment of the vehicular access
points, attention should be given to the location of service and parking areas.
An additional level of structured parking at the current Frontage Road level
• would help to minimize the apparent height of the existing or future
structures, decrease the grade at existing access points, increase the amount
of landscaping on the surface of the structure, and hide service functions
below grade.
5.19.8 Setbacks from the South Frontage Road
Special consideration should be given to the setback of buildings from the
South Frontage Road. Pursuant to the Lionshead Mixed Use -1 zone district
setback standards, a minimum 10-foot (10') setback is allowed. Given the
relationship of the development site to the South Frontage Road, the need for
adequate area for vehicular traffic circulation, the importance of a landscape
area to visually screen the massing of the building, and the existence of a 30-
foot wide utility easement along the southerly edge of the South Frontage
Road, the minimum required front setback for the Evergreen Lodge
development site shall he thirty feet (30'). This increased setback
requirement shall supersede the 10-foot setback requirement prescribed in
Section 12-7H-10, Setbacks, Vail Town Code.
5.19.9 Architectural Improvements
`['lie architectural design guidelines (Chapter 8) discuss several transition
tools that can be used to adapt an existing building to the new character and
• ~u-chitectural quality desired for Lionshead. Given the high visibility of the
5
• buildings an this site and the extent to which they influence the quality of the
experience of passers-by, all future development on the site should be closely
scrutinized for compliance with the applicable architectural design
guidelines.
5.19.10 Public Transit Stop
A public transit stop is presently located east of the WestStar Bank Building,
across the street from the Town Municipal offices. Through the future
redevelopment of the Evergreen lodge and the Vail Valley Medical Center,
an opportunity exists to potentially relocate the transit stop to a more
optimal location.
INTRODUCED, READ, APPROVED AND ADOPTED this 20th day of
December, 2005.
• p F Vq~ .,
••' •.
O::
S~p,L ~ Rodney Slifer, Ma ~ r, Town of Vail
ATTEST: ~'~,:,~.~"
L ele~ onaldson, Town Clerk
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