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HomeMy WebLinkAbout1978-03 Establishing a Public_Private Joint Funding of Capital Improvements1 RESOLUTION NO. Series of 1978 A RESOLUTION OF THE TQWN COUNCIL ESTABLISHING A PUBLIC/PRIVATE JOINT VENTURE PROGRAM FOR THE JOINT FUNDING OF CAPITAL IMPROVEMENTS; SPECIFYING ELIGIBILITY OF CAPITAL PROJECTS, APPLICANTS AND COSTS; DETERT~IINATTON OF FUNDING BY THE DESIGN REVIEW BOARD AND PLANNTTdG COrTMISSION; LIMITING PROGRAM TO ONE YEAR; AND SETTING FORTH DETAILS IN RELATION THERETO WHEREAS, the Town Council has previously set aside 25,000.00 to be used as the Town`s share of joint capital improvements projects; and WHEREAS, the Town Council wishes to set forth the procedures and regulations for said program; NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO, THAT: 1} There is hereby established a public/private joint capital improvement program. 2} The Town of Vail's funding of the faint venture shall be $25,000.00. 3} The Town shall provide partial funding for public or capital improvements projects ors/private property that serve the community's needs. Such projects may include (but are not limited to} landscaping, beautification, cleaning up of trash ar unsightly areas, drainage projects, resolution of ice over- hangs, lighting, improvement of pedestrian ways, and public recreation amenities. Any capital improvement which has been required as part of an approved site plan and has been reviewed by the Design Review Board shall not be eligible for this joint venture program. 4} Any person or entity paying real or personal property taxes to the Town of Vail may apply for participation in the joint venture program, and any tenant or manager who has the authorization of the property owner may apply for partici- pation in the name of the property owner. Res. Page 2 5) The Town's share of the joint venture project's funding shall be determined by the Planning Commission as provided in paragraph {7} below. Application farms shall be provided by the Department of Community Development. At the time an application is filed with the Department of Community Development, the applicant shall attach thereto a proposed cost budget for the project (which may include design, archi- tectural and engineering costs) and the proposed public/private shares. 6) For approved joint venture projects, the Town will reimburse the applicant for its share of the project expenses after the completion of the project. The Town's share shall be a percentage of the total project cost up to but not to exceed a maximum amount. The applicant shall document the project expenses by submitting to the Town bills, receipts, or invoices for the project expenses or such other information or documentation as may be reQuired by the Town. 7) Applications for participation in this program shall be submitted to the Department of Community Development. The Town of Vail staff shall review all applications and shall then submit to the Design Review Board all applications and recommendations relating thereto, The Design Review Board shall then review the applications and the staff's recommendations and make recommendations to the Planning Commission as to the pro- posed projects that the Town should participate in and the amount of the Town's share in each recommended project. The Planning Commission shall review all applications and reports and make a final determination of the projects to be funded and the amount of the Town's share. The evaluation of the proposed projects by the staff, Design Review Board, and Planning Commission shall be done on the Project Evaluation Farms hereby approved. The areas of evaluation being: (a} project location and visibility from public rights-of-way; {b) type of project; (c) general design quality; Res. Page 3 d) seasonal use of project; (e) energy and resource conser- vation; and (f) ease of maintenance. In addition thereto, project cost and proposed cost division between the Town and the applicant shall be considered. 8) The Town shall not pay or be responsible for operating or maintenance costs of the project after the initial construction costs. 9) This joint venture program is for the year 1978 and is intended as a pilot program. At the end of 1978, the Town Council shall review this proclram to determine its via- bility, effectiveness, and whether it should be continued. INTRODUCED, READ, APPROVED, AND ADOPTED, this 21St day of March, 1978. Ma~ f~ ATTEST: Town Clerk PUBLIC/PRIVATE ,TOINT VENTURE AGREEP'IENT THIS AGREEMENT, made this day of 1978, by and between the TOWN OF VAIL, a Colorado municipal corporation (hereinafter referred to as "Town"), and hereinafter referred to as "Property Owner"). WITNESSETH: WHEREAS, the Town Council, by Resolution No. , Series of 1978, approved a public/private joint venture capital improvement program; WHEREAS, the Planning Commission has reviewed the applications for participation in the joint venture, and the property owner herein was approved for participation, NOW, THEREFORE, in consideration of the promises, covenants and agreements herein contained, the parties agree as follows: 1} The Town and the Property Owner sha11 jointly share in a joint venture capital improvement project as approved by the Town of Vail's Planning Commission on Said project shall consist of 2} The joint venture project sha11 be constructed in accordance with plans submitted to and approved by the P1an- Wing Commission. Modification thereof shall occur only if approved in writing by the Department of Public Works and the Department of Community Development of the Town of Vail. 3} The Planning Commission of the Town of Vail approved this proposed project on In accordance with that approval the Town's share shall be up to but not to exceed $ , of the costs and expenses of the approved project. JOINT VENTURE AGREEMENT Page 2 4} Construction costs shall be documented and submitted to the Town for reimbursement after the project has been completed. 5) Operating and maintenance costs shall be the responsibility of the Property Owner. The Town shall not be responsible for or share in said costs after the initial con- struction. If the public/private project as approved by the Planning Commission and hereby contracted for is to be partially constructed on Town of Vail property, the private Property Owner agrees to be responsible for operation, maintenance and repair of the project after completion thereof. 6} The Property Owner shall provide to the Town documentation of the project costs and expenses as may be required by the Town. The Town may recxua.re an audit of the project's expenses, provided, that any such audit shall be at the sole expense of the Town. EXECUTED on the day and year first above written. TOWN OF VAIL, COLORADO PROPERTY OWNER By: Town Manager ATTEST: Town Clerk