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TC Ord. No. 2015-12 Amending the Annexation and Developement agreement for the Red House PUDTOWN OF AVON, COLORADO ORDINANCE 2015 -12 AN ORDINANCE AMENDING THE ANNEXATION AND DEVELOPMENT AGREEMENT THEREBY EXTENDING THE EXISTING VESTED PROPERTY RIGHTS FOR THE RED HOUSE PUD PROPERTY LOCATED AT LOT 1, EAGLE RIVER AT AVON SUBDIVISION, TOWN OF AVON, STATE OF COLORADO WHEREAS, the Town of Avon ( "Town ") is a home rule authority municipal corporation and body politic organized under the laws of the State of Colorado and possessing the maximum powers, authority and privileges to which it is entitled under Colorado law; and WHEREAS, Dominic Mauriello, Mauriello Planning Group on behalf of Red House Avon, LLC ( "Applicant' or "Owner ") has submitted a Vested Property Rights Application ( "Application ") to amend the Annexation and Development Agreement approved by Council through Ordinance 09 -07 ( "Development Agreement'), thereby amending the term of the Development Agreement as defined in Section 3.1 of Article III; and WHEREAS, the Application amends Section 3.1 of Article III of the Development Agreement to extend the expiration date for an additional three (3) years to then expire July 28, 2019; and WHEREAS, pursuant to Section 7.16.140(f), Extension of Vested Property Rights, the Town Council finds the Application eligible for consideration since the Application was submitted at least six (6) months prior to the expiration of the vested property rights; and WHEREAS, pursuant to Section 7.16.140(e)(2), Avon Municipal Code, the Town Council has considered the applicable guidelines for the Application; and WHEREAS, the Town Council of the Town of Avon held public hearings on November 17, 2015 and January 12, 2016 after posting notice of such hearings in accordance with the requirements of Section 7.16.020(d), Step 4: Notice, Avon Municipal Code, and considered all comments provided before taking action; and WHEREAS, the Town Council makes the following specific findings as the basis for its decision as required by Section 7.16.020(f)(3) of the Avon Development Code: The Application meets the review criteria set forth in Section 7.16.140(e)(2), specifically: (ii) and (iii) Property values and the real estate market experienced a significant downturn for several years, commencing locally in early 2009 and continuing for several years during the Ordinance No. 2015 -12 — Red House Vested Property Rights SECOND READING — January 12, 2016 Page 1 of 5 initial vested rights period and market conditions for the construction of new multi - family residential product have improved only recently; and, (iv) There have been no changes to the Avon Comprehensive Plan or other community planning documents that affect the project as originally approved in 2009; therefore, the project continues to comply with the Avon Comprehensive Plan and other community planning documents; and, (v) The project has provided a portion of the required public amenities through the dedication of land for recreation and preservation of the Eagle river and the terms of the Development Agreement require additional amenities including road way improvements, school land dedications, water rights dedications, landscaping improvements and employee housing mitigation; and, (vii) The extended duration of the vested property rights for an additional five (5) years is reasonable considering the local, state and national economic recovery and local market conditions for new construction of multi- family residential product and considering the conditions related to integration of Lot 2, Riverside PUD, adjoining the current property; and, WHEREAS, approval of this Ordinance on first reading is intended only to confirm that the Town Council desires to comply with state law, the Avon home rule charter and the Avon Development Code by setting a public hearing in order to provide the public an opportunity to present testimony and evidence regarding the application and that approval of this Ordinance on first reading does not constitute a representation that the Town Council, or any member of the Town Council, supports, approves, rejects, or denies the proposed zoning or other matters in this Ordinance. NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF AVON, COLORADO, the following: Section 1. Recitals Incorporated. The above and foregoing recitals are incorporated herein by reference and adopted as findings and determinations of the Town Council. Section 2. Red House Annexation and Development Agreement Amendment. The Town Council gives conditional approval to the extension of the vested property rights as set forth in Section 3 below. The Red House Annexation and Development Agreement is hereby amended by replacing the language in Article III — Term, Section 3.1 in its entirety to read as follows: "3.1 Term. In recognition of the nature of the development contemplated under this Agreement, the investment and time required to complete the development of the Property, the potential for phased development of the Property, the possible impact of the recent economic downturn and other economic cycles, and poor market conditions at the time of approval, and in recognition of the current severity of the economic recession and uncertainty of economic recovery, the term of the Vested Property Rights shall Ordinance No. 2015 -12 — Red House Vested Property Rights SECOND READING — January 12, 2016 Page 2 of 5 commence on the Effective Date and shall continue through and including the twelfth (12th) anniversary of the Effective Date ( "Term ") and shall expire on July 28, 2021. Expiration or earlier termination of the Term shall not (a) affect any other obligations of the Parties contained in the Agreement, (b) affect any right arising from the issuance of a building permit (but limited to the building for which it is issued) or cormnon law vested property rights obtained prior to the expiration of the Term, or (c) without additional action, result in the termination or rescission of any other legislative, quasi-judicial or administrative approvals occurring prior to the expiration of the Term." Section 3. Conditions of Approval. The Town Council approval of the extension of the Vested Property Rights is subject to conditions as described in this section. In the event that the conditions are not satisfied on or prior to December 31, 2016, the Town Council may repeal this ordinance by ordinance and thereby revoke the extension of Vested Property Rights. The conditions of approval include the following: The Owner shall submit an application to amend the Riverside PUD, which application shall include the following: 1. The PUD amendment application shall be submitted no later than April 30, 2016. 2. The amended PUD Plat shall include the conveyance of a 1,748.5 sq.ft. easement across Lot 2, Riverside PUD, Avon, CO, as shown on the attached Exhibit A, for the purpose of public access as an unimproved or natural foot path to be maintained by the Town, which conveyance shall occur by an instrument acceptable to the Town. 3. Owner, as owner of Lot 2, Riverside PUD, shall abandon the existing development rights on as provided on Lot 2 of the Riverside PUD and apply for the right to use Lot 2, Riverside PUD for recreation cabin as a private amenity, built in the location of the remains of the current cabin structure, or in a similar location, and with a similar square footage, bulk, size and height, or such square footage, bulk, size and height as may be proposed by the Owner and for the right to use Lot 2, Riverside PUD private open space and private passive recreation uses. 4. The Town shall waive any application and associated fees provided that the application for a PUD amendment application is timely submitted and provided that such application meets the conditions stated herein. 5. Nothing contained herein shall restrict or infringe upon the discretion of the Avon Planning and Zoning Commission and Town Council to review and act upon an application to for an amendment to a planned unit development. Section 4. Correction of Errors. Town Staff is authorized to insert proper dates, references to recording information and make similar changes, and to correct any typographical, grammatical, cross - reference, or other errors which may be discovered in any documents Ordinance No. 2015 -12 — Red House Vested Property Rights SECOND READING — January 12, 2016 Page 3 of 5 associated with this Ordinance and documents approved by this Ordinance provided that such corrections do not change the substantive terms and provisions of such documents. Section 5. Severability. If any provision of this Ordinance, or the application of such provision to any person or circumstance, is for any reason held to be invalid, such invalidity shall not affect other provisions or applications of this Ordinance which can be given effect without the invalid provision or application, and to this end the provisions of this Ordinance are declared to be severable. The Town Council hereby declares that it would have passed this Ordinance and each provision thereof, even though any one of the provisions might be declared unconstitutional or invalid. As used in this Section, the term "provision" means and includes any part, division, subdivision, section, subsection, sentence, clause or phrase; the term "application" means and includes an application of an ordinance or any part thereof, whether considered or construed alone or together with another ordinance or ordinances, or part thereof, of the Town. Section 6. Effective Date. This Ordinance shall take effect thirty days after final adoption in accordance with Section 6.4 of the Avon Home Rule Charter. Section 7. Safety Clause. The Town Council hereby finds, determines and declares that this Ordinance is promulgated under the general police power of the Town of Avon, that it is promulgated for the health, safety and welfare of the public, and that this Ordinance is necessary for the preservation of health and safety and for the protection of public convenience and welfare. The Town Council further determines that the Ordinance bears a rational relation to the proper legislative object sought to be obtained. Section 8. Publication. The Town Clerk is ordered to publish this Ordinance in accordance with Chapter 1.16 of the Avon Municipal Code. [EXECUTIONPAGE FOLLOWS] Ordinance No. 2015 -12 — Red House Vested Property Rights SECOND READING — January 12, 2016 Page 4 of 5 INTRODUCED, APPROVED, PASSED ON FIRST READING AND ORDERED POSTED on November 17, 2015 and a public hearing on this ordinance shall be held at the regular meeting of the Town Council on January 12, 2016, at 5:00 P.M. in the Council Chambers, Avon Municipal Building, One Lake Street, Avon, Colorado. BY: ATTEST: Jenni ancher, Mayor Debbie Hoppe, Tow"A Clerk AD PTED ON SECOND AND FINAL READING on January 12, 2016. B ATTEST: J ie ancher, Mayor Debbie Hoppe, Tow erk = C OV AS TO Eric J.Qlair, Town Attorney Ordinance No. 2015 -12 — Red House Vested Property Rights SECOND READING — January 12, 2016 Page 5 of 5