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PZC Packet 111025AVON PLANNING & ZONING COMMISSION Meeting Agenda Monday, November 10, 2025 Public Meeting Begins at 5:30 PM ZOOM LINK: https://us02web.zoom.us/j/88099228518 1. Call to Order and Roll Call (Chairperson) – 5:30 PM 2. Approval of Agenda 3. Disclosure of any Conflicts of Interest or Ex-Parte Communication Related to Agenda Items 4. Public Comment – Comments are Welcome on Items Not Listed on the Following Agenda Public Comments are limited to three (3) minutes. The speaker may be given one (1) additional minute subject to Planning and Zoning Commission approval. 5. Public Hearing 5.1. PUD23002 and VPR23001 Village at Avon PUD Amendments and Vested Property Rights Extension – Matt Pielsticker, Community Development Director 5.2. REZ25001 Slopeside Rezoning – Jena Skinner, Planning Manager 6. Consent Agenda 6.1. Record of Decision – CTA25005 Avon Municipal Code Updates to Title 7 Landscaping Code 6.2. October 20, 2025 Planning and Zoning Commission Meeting Minutes 7. Future Meetings 7.1. November 17, 2025 7.2. December 8, 2025 8. Staff Updates 9. Adjourn 970-748-4413 matt@avon.org TO: Planning & Zoning Commission FROM: Matt Pielsticker, AICP, Community Development Director RE: QUASI-JUDICIAL PUBLIC HEARING Village (at Avon) PUD Amendment | File PUD23002 Vested Property Rights Extension | File VPR23001 DATE: November 6, 2025 STAFF REPORT OVERVIEW: This Staff report contains the review of a Planned Unit Development (“PUD”) Amendment application and Vested Property Rights Extension for consideration by the Planning and Zoning Commission (“PZC”). The joint PUD Amendment application (“Attachment A”) by the Town of Avon and the Traer Creek, LLC development team (“Traer Creek”), includes various amendments to the Village (at Avon) PUD Guide (“Attachments B and C”), PUD Master Plan map (“Attachment D”), and the Consolidated, Amended and Restated Annexation and Development Agreement (“CARADA”). The PUD Master Plan map graphically sets forth the locations of Planning Areas within the PUD. The PUD Guide includes all of the use and development standards for each Planning Area, including supplemental standards such as parking, building height, density, and roadway specifications. The joint PUD Amendment application originated in Fall 2023. The Town was pursuing a housing project called “Avondale Apartments” on Lot 5, a Town-owned property that is zoned for Public Facilities uses. This coincided with the timing of the Eagle Valley Early Childhood and Development project on Planning Area E (“PA-E”). That project originally included an integrated housing element, necessitating further zoning updates to the PUD. After initial discussions with Traer Creek, it became apparent that it would be an opportune time to include Traer Creek’s desired amendments at the same time. For example, Traer Creek sought additional density for Planning Area C (“PA-C”) and Planning Area D (“PA-D”). The amendment process was formally initiated by the Avon Town Council in November 2023. Since that time the scope of amendments has changed per direction by Traer Creek. Traer Creek added to the PUD Amendment application an application for extension of Vested Property Rights for Planning Areas K and RMF-1 (the upper hillside north of I-70). The review process for the PUD Amendment and Vested Property Rights extension includes public hearing(s) and a recommendation by PZC. The Avon Town Council (“Council”) acts with an Ordinance after conducting additional public hearing(s). Per the Village (at Avon) PUD Guide, any PUD Amendment by any property owner requires the consent and approval of Traer Creek. This PUD Amendment application includes Traer Creek’s application for extension of Vested Property Rights as a component of the PUD Amendment application. These are separate applications that are reviewed concurrently under Avon’s Development Code, but are combined with regard to the consent and approval of Traer Creek. SUMMARY OF APPLICATIONS: A summary of PUD amendments is located on Page 3 of the attached Application Narrative (“Attachment A”). The amendments were collaboratively developed and drafted by Traer Creek and Town staff. I have summarized some of the amendments in this report. A more detailed explanation of the amendments is included in the Narrative. Village (at Avon) PUD & Vested Property RIghts November 6, 2025 Page 2 of 15 Town Amendments: The Town’s PUD amendments advance Avon’s Community Housing efforts on Town-owned property by creating two new Community Housing areas tailored to each site. New Planning Area designations include: Community Housing 1 (“CH-1”) and Community Housing 2 (“CH-2”). Planning Area CH-1 replaces portions of Planning Area D and Planning Area E – adjacent to the Eagle Valley Early Childcare and Development Center that is currently under construction on East Beaver Creek Boulevard. Planning Area CH-2 replaces Planning Areas Public Facilities 1 (“PF-1”) for Lot 5, which is the property adjacent to Home Depot. The PUD Guide amendments recognize Community Housing as a use by right in these two new planning areas. This amendment neither affects any established Vested Property Rights that exist, nor does it affect or modify any of the other existing uses as found in the PUD. The Avondale Apartment project slated for CH-2 could advance forward in design with approval of these amendments. Currently, that project is in the middle of the design review process with the Village (at Avon) Design Review Board. A maximum of forty (40) dwelling units would be possible. If the CH-1 amendments are approved, the Town could move forward with a conceptual design process to determine final programming, density, and layout. Traer Creek is dedicating existing Lot 8 (approximately ½ acre) to be included with a portion of Town owned PA-E to create the CH-1 housing site (approximately 1.2 acres) and the density would be capped at thirty-six (36) units. The images on the following page highlight the existing and proposed amendments to the PUD Master Plan map. Village (at Avon) PUD & Vested Property RIghts November 6, 2025 Page 3 of 15 Existing PUD Map (above) – Proposed PUD Map (below) The PUD requires 500 units of “affordable” housing be constructed on the property. The housing requirements were negotiated and approved in a time when employee mitigation and a percentage of units were the rudimentary approach. The “trigger” to provide for the remaining required (256) units is at such both of the following conditions have been satisfied: 1) The Town has issued final certificates for Commercial Space within the property in the aggregate of 650,000 square feet of consolidated Gross Square Footage; and 2) the Town has issued final certificate of occupancy for an aggregate of 1,881 Dwelling Units. Currently, 368,573 square feet of commercial and 807 dwelling units are constructed or under construction. Village (at Avon) PUD & Vested Property RIghts November 6, 2025 Page 4 of 15 The likelihood of meeting both conditions (commercial and residential triggers) is low. Housing mitigation, forms of deed restrictions, and methods of employee mitigation have evolved greatly over the past 25+ years. An overhaul to the Community Housing standards – Section I – is included as part of the application. This section clarifies existing constructed units versus remaining unit requirements. The PUD Amendment would update rental (up to 120% Area Median Income) and ownership (up to 140% Area Median Income) guidelines for the balance of 254 units required. The Town’s two housing sites would count toward the remaining required units. Additionally, resident-occupied deed restricted units could fulfill a portion of the remaining housing units requirements. All future remaining required units would be deed restricted. The PUD Guide would also cross reference with the Avon Community Housing Policies (“ACHP”), adding consistency with housing administration for all Avon Community Housing units. Traer Creek Amendments: Amendments being requested by Traer Creek include a density increase to PA- C and PA-D, with a building height increase to 60’ in these planning areas, as well as the ability via Special Review to apply for reviewing heights up to 74’ for areas greater than 250’ from the southern border of the railroad tracks. Traer Creek proposes to clarify and maintain the ability to construct up to 280 Dwelling Units in a cul-de-sac development with one point of vehicular access. The International Fire Code (“IFC”) reduced the permitted number of multi-family dwelling units to 200 on a cul-de-sac with one ingress/egress route in 2003. Developing between 200 and 280 Dwelling Units could be realized in Planning Area I (“PA-I”), Planning Area J (“PA-J”), Planning Area K (“PA-K”), and/or Planning Area RMF-1 (“RMF-1”). Short-term rentals and the management of the Town’s short-term rental licensing program were not in place when the Village (at Avon) PUD was initially approved. The intent is to formally recognize this use as permitted, similar to other properties in the Town Core on the valley floor. The PUD Amendment officially defines short-term rental according to AMC and includes this use in zones PA-A, PA-C, PA-D, and PA-J. Section B.6 of the PUD Guide is proposed to be amended to remove the minimum/maximum percentage of residential and commercial square footage in PA-A,, PA-F, PA-G, and PA-H. Buildout of PA-F, PA-G, and PA-H is complete and there does not appear to be a compelling reason to keep a minimum commercial square footage in PA-A. Staff felt that it was important to maintain the residential character in the middle of the valley floor in PA-C and PA-D and therefore the maximum of 10% commercial in PA-C and PA-D would remain as a requirement. PROCESS: PUD Amendments to the Village (at Avon) PUD follow specific procedures as detailed in Section H of the PUD Guide. As this amendment is being processed as a formal application, Section H requires these types of applications be processed in accordance with AMC §7.16.060, Planned Unit Development (PUD), to be heard by both PZC and the Avon Town Council. The PZC shall review the PUD Amendment and shall provide a recommendation to the Town Council after conducting a public hearing. The Town Council shall review and make a final decision after conducting a public hearing. As part of this process, both the PZC and Council shall review the PUD Amendment according to the same approval criteria listed for Preliminary PUD development plans. Upon action by PZC, Staff will produce a Record of Decision for the PZC and provide this document to Council. This PUD Amendment will be memorialized through two readings of an Ordinance. Village (at Avon) PUD & Vested Property RIghts November 6, 2025 Page 5 of 15 PZC Review PZC Hearing & Record Of Decision Town Council 1st Reading Staff Review & Public Notice Town Council 2nd Reading The process for considering an extension of Vested Property Rights is set forth in AMC §7.16.140. The adoption of a Vested Property Right, or extension of existing Vested Property Right, is considered to be a legislative act approved by Ordinance. AMC Sec. 7.16.140(f) directly addresses Extension of Vested Property Rights, which states: (f) Extension of Vested Property Rights. A landowner may request an extension of vested property rights by submitting an application for extension of vested property rights at least six (6) months prior to the expiration of the vested property rights. No application for extension of a vested property right shall be approved until after providing notice and conducting public hearings in compliance with Subsection 7.16.020(d). The guidelines in Paragraph 7.16.140(e)(2) shall be considered when determining whether to grant an extension to a vested property right. An extension of a vested property right shall be approved by ordinance. The notice of approval provisions in Paragraph 7.16.140(d)(1) above shall apply to any approval for extension of vested property rights. PUBLIC NOTIFICATION: The Applications were publicly notified in the Vail Daily on October 31. Mailed notice was sent via United States Postal Service to all owners within 300’ of the PUD. One written public comment was received and it is attached (“Attachment F”) to this report for review and consideration. The following commentary pertains to how this PUD Amendment conforms with the Review Criteria as established in AMC §7.16.060, Planned Unit Development (PUD). The PZC shall consider the following criteria as the basis for a recommendation on this PUD amendment: (i) The PUD addresses a unique situation, confers a substantial benefit to the Town and/or incorporates creative site design such that it achieves the purposes of this Development Code and represents an improvement in quality over what could have been accomplished through strict application of the otherwise applicable district or development standards. Such improvements in quality may include, but are not limited to: improvements in open space provision and access; environmental protection; tree/ vegetation preservation; efficient provision of streets, roads and other utilities and services; or increased choice of living and housing environments; Staff Response: This PUD amendment does not alter the intention or design of the underlying Village (at Avon) PUD in adding Community Housing as a distinct use within the affected planning areas. Creating Community Housing planning areas, and assigning PUD AMENDMENT REVIEW CRITERIA Village (at Avon) PUD & Vested Property RIghts November 6, 2025 Page 6 of 15 density, will increase the choices for living and housing arrangements for the local workforce by offering dedicated housing options to specific government employees and childcare facility workers without competing with other free-market units within the VAA. Increasing density and Community Housing in the valley floor area, particularly within PA- C, PA-D, and PF-1, will also increase housing stock in areas where existing utilities, road infrastructure, and transit facilities exist. Open space provisions, landscaping requirements, and other environmental protection standards remain in place. (ii) The PUD rezoning will promote the public health, safety and general welfare; Staff Response: This PUD amendment promotes the public health, safety, and general welfare in distinctly promoting the workforce who supports civic action, essential services, and in the childcare industry. All potential Community Housing residents contribute to the general welfare and sustainable workforce of Avon. Increasing development potential in the valley floor between Chapel Square and the existing Piedmont apartments is supported by the Development Code. Updates to the PUD Guide language bring relevancy to current development patterns and add to the general welfare of the community by providing cohesiveness with the rest of the Town Core. (iii) The PUD rezoning is consistent with the Avon Comprehensive Plan, the purposes of this Development Code and the eligibility criteria outlined in Subsection 7.16.060(b); Staff Response: This PUD amendment is in alignment and conforms to both the recently updated Avon Comprehensive Plan, and the Avon Community Housing Plan while not affecting the Comprehensive Plan in how the Village (at Avon) PUD is currently captured in these documents. The amendment also is in alignment with the purposes of the development code, as Community Housing is supported within the AMC. Advancing the right to construct Community Housing on existing Town property, and property deeded by Traer Creek, could accelerate the inclusion of additional locals-only housing stock in central valley floor locations. The PUD Guide and CARADA require the Town to use the 1996 Comprehensive Plan. The 1996 Comprehensive Plan includes very brief language specific to the Village (at Avon) [formerly referred to as the Stolport] which does not provide any meaningful guidance for consideration with the requested PUD amendments. Housing policies in the 1996 Avon Comprehensive Plan seeks to add attainable workforce housing for all new development, regardless of the size of development. The Vested Rights Extension application acknowledges the up front housing commitment from Buffalo Ridge in 2001- 2002, but does not propose advancing additional housing strategies as part of the extension. Village (at Avon) PUD & Vested Property RIghts November 6, 2025 Page 7 of 15 Other general goals and policy areas of the 1996 Comprehensive Plan are relevant, especially with regard to housing. Section C of the Comprehensive Plan includes these supporting statements, reinforcing some of the PUD Amendments: Goal C2 Provide for affordable housing for permanent and seasonal residents that is attractive, safe and integrated with the community. Policy C2.2 Wherever possible, affordable housing will be integrated with, rather than be separate from, the rest of the community. Policy C2.3 Affordable housing that is assisted by or required by the Town, will include provisions for maintaining affordability. Examples include rent and resale price limits, as currently exist in the Wildwood Townhomes development. Policy C2.4 The Town will encourage, and the extent practical, participate in the development of affordable housing. (iv) Facilities and services (including roads and transportation, water, gas, electric, police and fire protection and sewage and waste disposal, as applicable) will be available to serve the subject property while maintaining adequate levels of service to existing development; Staff Response: This PUD amendment will not impact the infrastructure serving existing parcels and planning areas. Town staff has been working collaboratively with Traer Creek on the overall valley floor road network, including two new roundabouts on East Beaver Creek Boulevard. As part of the overall planning process, the corresponding utility network has been coordinated with applicable providers, including water and sewer. Individual projects will require utility verifications as is typical with new construction. Lastly, the Town is actively working to extend and utilize the raw water system for exterior irrigation of landscaping in public ways and other projects, as available. (v) Compared to the underlying zoning, the PUD rezoning is not likely to result in significant adverse impacts upon the natural environment, including air, water, noise, storm water management, wildlife and vegetation, or such impacts will be substantially mitigated; Staff Response: This PUD amendment will not result in physical development, rather; it is the first step before development design may occur. Importantly, the Village (at Avon) has already been through the required analysis for environmental impacts and mitigation thereof during that entitlement process and these parcels have been deemed buildable. Through the development process, all impacts directly related to the construction of an apartment complex, childcare facility, and housing in general, will be evaluated through these specific designs. Storm water management at an overarching level has been coordinated and closely reviewed by the Engineering Department. (vi) Compared to the underlying zoning, the PUD rezoning is not likely to result in Village (at Avon) PUD & Vested Property RIghts November 6, 2025 Page 8 of 15 significant adverse impacts upon other property in the vicinity of the subject tract; and Staff Response: In general, the proposed PUD amendments will not reduce the development potential of any other parcel in the VAA PUD. The amendments result in focusing development on areas that are served and/or serviced by existing utilities and infrastructure. Common impacts to consider (as cited above in criteria vi.) with all zoning amendment applications include traffic, change of character, and intensity of use. The application seeks to increase density and building height in PA-A, PA-C, and PA-D. Changing density from 18 dwelling units to 40 dwelling units provides the opportunity and right to build more units in areas that are served by existing infrastructure. It is unlikely that a project with 40 dwelling units per acre could be constructed and still meet other development parameters (primarily parking), however, project types continue to evolve based on demand and smaller units may become more desired in the future. In the Town Center (TC) zone district the historical density limitation of 30 dwelling units per acre was removed in order to recognize that other limitations (e.g. water availability, parking, setbacks) would govern intensity of use. The PUD Guide currently includes a unique definition for calculating building height. Building Height means the distance measured vertically from the reference elevation (defined below) to the top of a flat roof or mansard roof or to the highest ridgeline of a sloping roof (also referred to as the parallel slope method and depicted by diagram in Section 7.08.010 of the Development Code, as in effect on the Effective Date), but excluding from the calculation of Building Height any non-habitable Architectural Projections. The “reference elevation” shall be: (i) within Planning Areas I, K, RMF-1 and RMF-2, the Natural Grade (ii) within the portions of Planning Areas A, D and E located less than 250 feet from the southerly boundary of such Planning Areas, the existing grade as exists on the date of execution of the Settlement Term Sheet (iii) within the portions of Planning Areas A, D and E located 250 feet or more from the southerly boundary of such Planning Areas, and within all other Planning Areas, the Finished Grade “Natural Grade” is defined as “the elevation of the ground surface in its natural state, before man-made alterations.” I speculate that “Natural Grade” was chosen as the “reference”, or datum, basis to calculate height in PA-A, PA-D, and PA-E along the southerly boundary because of expressed height concerns and the desire to provide surety with potential future development. It is impossible to know what the ground surface would be in its natural state because of changes over the last several years. East Beaver Creek Village (at Avon) PUD & Vested Property RIghts November 6, 2025 Page 9 of 15 Boulevard has been partially constructed. Grading work is also currently taking place on the property. A new term “Engineered Grade” was decided upon as the new reference moving forward because the engineered grading plans for new road construction in the vicinity of PA-A and PA-D present a practicable standard that provides functional public improvements on one hand and also provides surety with potential development. (vii) Future uses on the subject tract will be compatible in scale with uses or potential future uses on other properties in the vicinity of the subject tract. Staff Response: Even with modifications to the proposed building heights, the scale and character of the proposed development should be compatible. The PUD has always limited building heights for the southern portion of the valley floor between Beaver Creek Boulevard and the railroad tracks. The intent is to taper the building height as it approaches the Eaglebend neighborhood to the south. The maximum building height is 55’ for PA-A. A setback for 55’ building height was originally (1998) defined as for areas south of Beaver Creek Boulevard, and 80’ maximum height in PA-A in the area north of East Beaver Creek Boulevard. Due to changes in the roadway layout, the building setback line was changed to 250’ from the railroad tracks. The current amendments propose to increase the maximum building height to 60’ by special review use permit for heights in excess of 55’. The special review use permit requires public notification and public hearing with PZC. Current PUD Map and 250’ building setback The proposed CH-! Planning Area is composed of a portion of PA-D and a portion of PA-E. The current maximum building height is 48’ for PA-D and 35’ for PA-E. If approved, the maximum building height of a Community Housing project on CH-1 would be 48’ from the height of the existing topography today. The scale of a housing project on this site must be reviewed carefully; the adjacent building heights for buildings along the south side of Village (at Avon) PUD & Vested Property RIghts November 6, 2025 Page 10 of 15 the railroad tracks are generally not more than 30’-35’. The railroad tracks, setbacks and easements would create an approximate 130’ buffer between structures on either side of the tracks. Increased density from 18 dwelling units to 40 dwelling units in PA-C and PA-D does not change the overall density of the development. The valley floor is well-equipped to handle this density with multiple East-West roads, multi-use paths, and transit infrastructure. It should be noted that the PA-A, PA-C, and PA-D areas are in the valley floor adjacent to “Town Core” and Town Center zoning, where density limitations have been eliminated. I have found that minimum parking regulations and topography, not density caps, are the predominant limiting factor to building density on properties. I am providing the following recommended findings for consideration by PZC when taking action on the PUD Amendment Application: GENERAL FINDINGS PURSUANT TO AMC §7.16.020, General Procedures and Requirements: 1. The application is complete and provides sufficient information for PZC to determine that the development application complies with the review criteria. 2. The application complies with the goals and policies of the Avon Comprehensive Plan as documented within the staff report; and 3. Demand for public services does not increase as the overall development standards, including overall density, does not change. PUD FINDINGS PURSUANT TO AMC §7.16.060, Planned Unit Development (PUD): 1. The PUD amendment confers a benefit to the Town by dedication of Lot 8 and permitting additional Community Housing units on Town properties, 2. The PUD amendment promotes public health, safety and general welfare, in preparing the subject planning areas to recognize Community Housing units dedicated to our essential workforce. 3. The PUD amendment is consistent with the Avon Comprehensive Plan and the purposes of the Development Code. 4. Facilities and services (including roads and transportation, water, gas, electricity, police and fire protection and sewage and waste disposal, as applicable) are available to serve the subject property while maintaining adequate levels of service to existing development. 5. The PUD amendment will not result in significant adverse impacts upon the natural environment, including air, water, noise, storm water management, wildlife and vegetation, as such impacts have been substantially mitigated through the development of the overall Village (at Avon) PUD. PUD AMENDMENT FINDINGS Village (at Avon) PUD & Vested Property RIghts November 6, 2025 Page 11 of 15 6. The PUD amendment will not result in significant adverse impacts upon other property in the vicinity as the potential future buildings on PA-A, PA-D, and CH-1 will be buffered by a horizontal distance ranging from not less than 130’- 270’ from existing structures to the south; and 7. Future uses on PA-D and proposed CH-1 will be primarily residential and compatible with existing established residential development on Eaglebend Drive. Avon’s vested property right regulations are in general alignment with state statute. An Ordinance and site “specific development plan” are required to establish vesting and extend. The PUD Guide and PUD Master Plan constitute the site specific development plan requirement. Similar to state statute, vested rights are generally established for a three (3) year period unless a development agreement accompanies the request and stipulates a longer timeframe. While vested rights periods greater than three (3) years have been granted in the past, periods greater than 15-30 years is unique to the Village. Avon has approved the following Vested Property Rights besides the Village (at Avon). 1. Sheraton Mountain Vista: Vested Property Rights granted in 2000, 4 years for 1st phase, 8 years for 2nd phase, 12 years for 3rd phase. 1st phase was built, vested property rights expired without any extensions. 2. Riverfront Planned Unit Development: 12 years of Vested Property Rights approved in 2006. A 4 year extension was granted for Lots 4-7 in 2017. In 2019 a 3 year extension was granted for Phase 1 and 4 year extension was granted for Phase 2 of the Lot 1 development. The entire project should be fully developed by the end of this year. 3. Base Camp (formerly Red Housing) Planned Unit Development: 7 years of Vested Property Rights approved in 2009. Project was fully developed in 2021 (2nd phase was developed after expiration of Vested Property Rights). The Village (at Avon) Annexation and Development Agreement was originally approved on October 30, 1998 and provided a thirty-five year vested right until 2033. The original approvals included the agreement to refrain from collecting certain taxes. The CARADA was approved on October 22, 2013, which approved an additional six (6) year extension of the Vested Property Rights until October 21, 2039. A full economic analysis of tax credits and fees is attached (“Attachment E”) to highlight public improvement projects and the status of finances. In order to extend the vested rights terms further than 2039, a list of considerations are required. The following commentary pertains to how this Vested Property Rights conforms with the Guidelines established in AMC §7.16.140(e)(2). The guidelines in this Paragraph 7.16.140(e)(2) shall be considered when determining whether to grant vested property rights for a period greater than three (3) years, provided that site specific development plans that are granted vested property rights for a period greater than three (3) years because of the size, phasing or absorption rate of VESTED PROPERTY RIGHTS EXTENTION Village (at Avon) PUD & Vested Property RIghts November 6, 2025 Page 12 of 15 such site specific development plan should have separate vesting created for the various phases of the development, as set forth in Paragraph 7.16.140(e)(4). It shall be the burden of the applicant to propose appropriate reasons for granting a vested property right that is greater than three (3) years. Guidelines to consider another extension: (i) The size and phasing of the development, specifically, but not limited to, whether the development can be reasonably completed within the vested rights period; Staff Response: The original vested rights term (35 years) and extension (6 years) considered market disruptions and the settlement period where development stalled from 2008-2014. All current development activities are taking place on the valley floor in Planning Area A, Planning Area E, and north of the interstate on Planning Area J. The “Mountainside” area has been analyzed for access with an exploratory road and borings in the past, however, there has never been a concerted effort to pursue development. The Mountainside is currently not served by water or sewer service due to the elevation above existing water tank. The Town of Avon, Traer Creek, and the Eagle River Water and Sanitation district are working on a preliminary design and feasibility study of additional water tank(s) at higher elevations to serve development in the Mountainside and other projects in the vicinity. The water tank(s) would also serve the East Avon Preserve and other private property on the north side of the Eagle River across from Eagle-Vail. It is unlikely to see completed development of the Mountainside by 2039 based on the time to plan, fund, and construct the necessary water and sewer improvements. (ii) Economic cycles and specifically but not limited to resort community economic cycles, regional and state economic cycles and national economic cycles; Staff Response: The Great Recession has been the most impactful economic cycle to the development investment since 1998. The Great Recession for the most part overlapped with the Town of Avon versus Traer Creek lawsuit from 2008- 2014. The settlement in the lawsuit included a six-year extension of the Vested Property Rights from 2033 to 2039. This guideline does not support granting an extension, although adverse economic cycles could occur during the remaining 14 years of the Vested Property Rights and beyond. (iii) Market conditions and specifically but not limited to absorption rates for leasing and sales of similar development projects; Staff Response: The market for mountainside properties in the valley have historically remained high, despite interruptions in the broader marketplace. Similar developments to PA-K (e.g. Mountain Star, Cordillera Summit) have taken 30+ years to fully develop. It is undetermined whether the market could absorb residential product in the Mountainside area. (iv) Compliance with the Avon Comprehensive Plan and other community planning documents; Village (at Avon) PUD & Vested Property RIghts November 6, 2025 Page 13 of 15 Staff Response: The Village PUD and CARADA require the Town to use the 1996 Comprehensive Plan for review of compliance with the Avon Comprehensive Plan. The 1996 Comprehensive Plan includes very brief language specific to the Village (at Avon) [formerly referred to as the Stolport] which does not provide any meaningful guidance for consideration of extension of Vested Property Rights. (v) Proposed public amenities and benefits that enhance the project and the overall attractiveness of the Avon community, including the degree to which such public amenities and benefits are defined in terms of design, timeframe and phasing with development; Staff Response: The Village (at Avon) PUD envisions that the majority of the Mountainside would remain undeveloped. This is largely due to the steep topography leading up the hillside to the developable portions. Traer Creek is not directly proposing any other public amenities with the application. The primary public benefit that could be achieved in the Mountainside area would be public access from Planning Area P3 (community park) to United States Forest Service trails to the north of the development. Staff recommends that a soft surface trail corridor be designed and platted as part of any future subdivision process for PA-K and/or RMF-1. Construction of a trail could be required prior to occupancy of any residential development in PA-K or RMF-1. (vi) Projected public financial benefits or costs estimated to be caused by the development project, including the timeframe for realization by the Town or other public entities and potential costs for operation and maintenance of any new public amenities or infrastructure dedicated to the Town or other public entities; Staff Response: The development of new projects in the Village will benefit the Town of Avon such that more development occurring sooner will directly create more financial benefit for the Town of Avon. The extension of Vested Property Rights does not inherently create any financial benefits on its own. The Town’s Chief Financial Officer has begun to model the financial benefits and costs for operation and maintenance of public amenities (e.g. PA-B park). The attached Memorandum (“Attachment X””) provides a snapshot of the current credit Public Improvement Fee (PIF) cap, revenues, and projects with development in the valley floor. If a road and water utilities are extended into the Mountainside area they will be at the expense of Traer Creek and independent of the attached modeling. (vii) The breadth and scope of the requested vested property right, including but not limited to the extent to which such vested property right restricts the Town's ability to apply future legislatively adopted fees and regulations for the purpose of providing public infrastructure, public services and public facilities and for the purpose of meeting evolving community needs; Staff Response: The extension of the existing Vested Property Rights for the Mountainside area is a limited scope. It is difficult to determine how development of the Mountainside would vary if subject to current or future Village (at Avon) PUD & Vested Property RIghts November 6, 2025 Page 14 of 15 (viii) The terms of any existing site specific development plans with development agreements for the applicant's property that specify the duration of vested property rights; Staff Response: The existing Vested Property Rights expire at the end of 2039. At the time of vested rights expiration, the PUD Guide and PUD Plan map would continue to be supportive of future development. However, the PUD Guide should be updated in 2039 to eliminate AMC exceptions. (ix) Any proposed modifications to previously approved vested property rights to address changed conditions within the Avon community, compliance with the Comprehensive Plan and other community planning documents or performance of previously approved site specific development plans; and Staff Response: The corresponding PUD Amendments and CARADA amendment (“Attachment D”) address changed conditions. Traer Creek has not proposed any additional modifications to the existing entitlement documents. (x) Any other factors deemed relevant by the Council when determining to grant a vested property right for a period greater than three (3) years. Staff Response: I expect additional considerations may become apparent through the review process. The very nature of Vested Property Rights is a decision by Council today which restricts the discretion of a future Council. Given the fact that 14 years exist in the vested term. The following findings are being provided for consideration by PZC and Town Council:: (i) The magnitude of public infrastructure necessary to access and development the Mountainside is beyond current means due to the present focus of highly impactful projects currently being development in the valley floor elsewhere in the PUD. (ii) Full development of the Mountainside in the current vested property rights term in implausible due to the type and location of the development. (iii) The scope of the Vested Property Rights is limited to areas that are inherently difficult to service, and do not contribute to the public benefits associated with other commercial and mixed-use development that would present measurable and tangible public benefits. VESTED PROPERTY RIGHTS FINDINGS Village (at Avon) PUD & Vested Property RIghts November 6, 2025 Page 15 of 15 “I move to recommend Town Council approve the proposed Village (at Avon) PUD Amendment and Vested Property Rights Extension, based on general conformance with Review Criteria, Guidelines, and recommended Findings as outlined in the staff report.” Thank you, Matt ATTACHMENT A: Narrative prepared by Mauriello Planning Group ATTACHMENT B: PUD Guide Strikethrough ATTACHMENT C: Engineered Grade Exhibits ATTACHMENT D: First Amendment to CARADA ATTACHMENT E: Financial Status of Village (at Avon), prepared by Avon CFO Paul Redmond ATTACHMENT F: Public Comments PUD Amendment & Vesting Extension V ILLAGE (AT A VON) October 2025 ATTACHMENT A TEAM DIRECTORY Ownership: Marcus Lindholm Traer Creek LLC 970.390.8651 marcuslindholm@TraerCreek.com Michael Lindholm Traer Creek LLC 970.390.8619 michaellindholm@TraerCreek.com Market Analysis: Richard Gollis The Concord Group 949.717.6450 rmg@theconcordgroup.com Entitlements: Dominic Mauriello Mauriello Planning Group, LLC 970.376.3318 dominic@mpgvail.com Allison Kent Mauriello Planning Group, LLC 970.390.8530 allison@mpgvail.com Legal: Munsey Ayers Otten Johnson Robinson Neff & Ragonetti PC 303.575.7555 munsey@ottenjohnson.com Outreach and Communications: Kristin Kenney Williams Commfluent 970.390.0062 kristin@commfluent.com Architecture: Harvey Robertson RMT Architects, PC 800.587.7058 harvey@rmtarchitects.com Page of 2 23 ATTACHMENT A SUMMARY OF A MENDMENTS PUD Amendment Item Description Team Planning Area E (Lot 3) Planning Area D (Lot 8) Rezone portions of PAE and PAD to CH-1. Traer conveys Lot 8 to TOA, which shall be included in CH-1. This will allow 36 AMI restricted for sale DU with a building height of 48’. Modified setbacks to allow flexibility. Domestic water service to DUs from water bank, will count towards total PUD requirement for Community Housing. TOA Public Facility-1 (Lot 5) Rezone this parcel to CH-2. Permit 40 AMI restricted rental DUs, increase height to 60’ / 4 floors for community housing, other provisions related to community housing, parking. Domestic water service to DUs from water bank will count towards total PUD requirement for Community Housing. Additional restrictions to prevent parking on adjacent private commercial land. TOA PUD Community Housing Standards Modify Affordable Housing in Section I to a new Community Housing section, including standards of up to 120% AMI rental and up to 140% AMI ownership. Also allows for 85 units of Community Housing obligation to be resident occupied. Allows for an exemption on income levels for Town employees for 14 months. Allow Community Housing in PAA, PAK. TOA Maximum DU on cul-de- sac International Fire Code could be interpreted to restrict to 200 DUs on cul-de-sac, PUD allows 280 DUs on cul-de- sac. Clarification to PUD Guide for current allowance of 280 DUs (PAI, PAJ, PAK, RMF1). Traer Creek Planning Area D and Planning Area C Allow 40 DU per acre, increase max building height to 60’ (5 stories), beyond 250’ of southern border up to 74’ (6 Stories) as special review use. Traer Creek Planning Area J Front setback change from 20’ to 10’, building height of 60’ and 5 stories for residential uses.Traer Creek Short Term Rental Added as use by right in certain planning areas including corresponding Town parking requirements. TOA to collect PIF. TOA Traer Creek Planning Area A Remove commercial floor area min. and max. limitations. Within 250’ of the southern boundary line, building height increase from 55’ to 60’ with a SRU. Beyond the 250’ line an increase in building height from 80’ to 110’ for residential uses as an SRU. TOA Traer Creek Vested Rights Extension of vested rights for PAK, RMF1, Block 3-PAJ (all north of I-70).Traer Creek Page of 3 23 ATTACHMENT A Additional items within the PUD Guide have been amended to clean up technical items that are not substantive. These are red-lined in the draft, but have not been summarized within this narrative. Page of 4 23 ATTACHMENT A INTRODUCTION The Town of Avon (“TOA”) and Traer Creek (“TC”) have been working cooperatively on a series of amendments to the Village (at Avon) PUD. The application to amend the PUD with the TOA was originally submitted in March of 2024. TC and the TOA have spent the last year working through numerous issues that have come out of discussions related to the original amendment and new issues brought forward by the TOA staff and TC. The proposed application represents a true jointly developed amendment with both staff and the applicant in agreement on the details. The original Village (at Avon) PUD was adopted in 1998, and has been amended numerous times, with the most recent amendment approved September 11, 2018. The PUD allows for a total of 2,400 dwelling units (including community housing units) and 825,000 sq. ft. of commercial space. The PUD also provides a Community Housing Plan, which outlines the triggers for the provision of Community Housing based on the completion of various levels of development. Currently, 244 Community Housing units have already been constructed within the Village (at Avon). Traer Creek’s proposed PUD amendments are described in the table summary above and again here: •The International Fire Code limits the number of units on a cul-de-sac to 200 dwelling units. The PUD already allows for 280 dwelling units on a cul-de-sac, but clarity is provided to ensure that this allowance remains into the future. •In Planning Areas C and D increase building height from 48 ft. to 60 ft limited to 5 stories. Any building beyond 250 ft of southern boundary of the PUD may request up to 74 ft. (and 6 stories) in height by Special Review Use. •Increase density on Planning Areas C and D from 18 units to 40 units per acre. This density change does not affect the 2,400 unit cap. •In Planning Area A, allow for a maximum building height of 60 ft. (currently allows for 55 ft.) for areas located less than 250 ft. from southerly boundary line by special review use; and allow for a maximum building height of 110 ft. (currently allows for 80 ft.) by special review use for residential and hotel uses located more than 250 ft. from the southerly boundary line. •In Planning Area A, eliminate the minimum and maximum percentages of residential and commercial floor area. •In Planning Area J, modify front setback requirement from 20 ft. to 10 ft. and modify height to 60 ft. and a maximum of 5 stories for residential uses and vertically-integrated mixed use projects. •Added short-term rental in certain Planning Areas, based on Town’s requirements for short- term rentals. •Provided clarification on existing and engineered grade to create an objective datum. This submittal also covers an extension of vesting of “mountain side” parcels, which is not a PUD Amendment, but instead a change to the Development Agreement. •The PUD is currently vested for 15 more years, to 2039. We are requesting an extension of vested rights as described below: ‣Planning Areas K, RMF1, and Block 3 of Planning Area J for an additional 20 years, to 2059. Page of 5 23 ATTACHMENT A The TOA’s proposed amendments are addressed in a separate submittal narrative, but include the following: •Planning Areas E and D - PAE (Lot 3) PAD (Lot 8) - Lot 3 is currently within PAE and is identified as a school site. Lot 8 is currently part of Planning Area D (PAD). A portion of PAE is proposed to be rezoned to a new CH-1 Community Housing District. A density of 36 DUs would be allowed. As currently proposed by this amendment, CH1 will allow for the site to be used for community housing. An increase in the allowable height from 35 ft. to 48 ft. is proposed for community housing. These 36 DUs are counted towards the total 2,400 density allowance and will count toward the Community Housing obligation. •Public Facility 1 - PF1 (Lot 5) - PF1 is proposed to be rezoned to CH-2 and restricted to 40 rental AMI restricted DUs. These 40 DUs are counted towards the total 2,400 density allowance and will count toward the Community Housing obligation. An increase in the allowable height from 35 ft. to 60 ft. and 4-stories is proposed for Community Housing. •PUD Community Housing Standards - Adding Community Housing standards stating that Community Housing units can serve up to 120% AMI for rental and up to 140% AMI for ownership. A provision allowing for RO (resident occupied housing) is also included. This includes a change in terminology from “Affordable Housing” to “Community Housing” to closer align with the TOA’s nomenclature. 85 units of Community Housing are allowed to be Resident Occupied. •All Planning Areas allowed to participate in the development bonus provisions included in the Avon Municipal Code In addition and to supplement the proposed PUD amendments, there are various agreements between TC and the TOA that also require updates and amendments. These have been submitted under separate cover. Page of 6 23 Traer Creek density and height PUD amendment request Traer Creek Vesting Extension request of 20 years Front setback and height PUD amendment request Traer Creed height PUD amendment request ATTACHMENT A BACKGROUND TC was named after a small creek on the north side of I-70 east of what has become Traer Creek Plaza. Founded by Oscar Traer in 1891, he rode with another local rancher to Central City to "prove up" their respective claims under the federal Homestead Act. Located on an 1,800-acre mixed-use land parcel in the heart of the Vail Valley between Eagle-Vail and Avon and just west of Vail Village. The Village (at Avon) property was purchased from Bill Nottingham in 1992 and annexed into the TOA in 1998. TC is committed to community oriented, environmentally focused and aesthetically pleasing projects. Core goals of Traer Creek are to instill a sense of pride in the community and lower the cost of living in the Vail Valley. The Village (at Avon) is a large Planned Unit Development (PUD), approved for up to 2,400 homes and 825,000 square feet of commercial space. Annexed into the TOA the land stretches from the east end of Chapel Square to Traer Creek Plaza, Wal-Mart and Home Depot, to the newly-constructed, Marriott-branded hotels and Maverik convenience store and gas station, to parcels north of I-70. To date, 354,983 square feet of commercial space, 243 hotel rooms, and 484 apartments, including 244 community housing apartments, have been built. In addition, roughly $70 million in public infrastructure was constructed in connection with the initial phases, including a new I-70 diamond interchange exit, Post Boulevard, six roundabouts, a Union Pacific Railroad underpass, and other public infrastructure. The Village (at Avon) has more than $80 million in infrastructure investment by the Traer Creek Metropolitan District (with financing provided by Traer Creek), with more to come. To summarize contributions made: •Recognizing the importance of providing Community Housing, Traer Creek is the only landowner in Avon who has met and exceeded its obligations for Community Housing in the first phase of development. Buffalo Ridge was constructed and opened in 2003, with 244 Community Housing units – 144 more units than required by the PUD in the first phase of development. •A recycling site was provided to Eagle Valley Alliance free of charge to create a neighborhood recycling program (now located at the TOA’s Lot 5). •Traer Creek kept Wal-Mart in Avon (and its tax revenues versus going to a down-valley location) as well as brought Home Depot into the project area (both stores opened in 2003.) Both stores are helping significantly with lowering the costs of living and construction in the Vail Valley. As part of the Wal-Mart relocation, Traer Creek filled the former Wal-Mart building by completing complex leases with Sports Authority, Office Depot and Pier 1 and then later with Sun and Ski, Appliance Factory and Mattress Kingdom. •Traer Creek brought a forward-thinking environmental-friendliness to Avon. Traer Creek Plaza, which opened in 2006, was the first LEED-certified mixed-use commercial building in Eagle County, and it inspired other projects to follow suit, including the Westin and Traer Creek Ambulance Response Station. Page of 7 23 ATTACHMENT A •The Plaza building, Wal-Mart and Home Depot have award-winning architecture designed by the world-renowned and late Arthur Erickson, enhancing Avon’s attractiveness. •Financing the construction of a 2-million-gallon water tank by the District for the water authority’s operation, which is now online and operational, providing a region wide benefit, including for fire suppression. •Further financial benefits to the TOA by way of the Village include about $250,000 annually in property tax, and $400,000 for an asphalt overlay contribution. •The District, funding meaningful infrastructure projects, is in a healthy financial situation; the outstanding debt of the District was refinanced in 2020 at a lower interest rate with a favorable principal amortization schedule. •The construction of the I-70 interchange Exit 168 in the first phase of development, which fundamentally improved traffic congestion on Avon Road. •TC donated to Eagle County Health Services District a site by I-70 for an emergency response ambulance facility, which has cut emergency response times for anyone experiencing a life-threatening emergency in the neighboring community, including in Avon. Following is a summary list of Traer Creek or District obligations under the Annexation and Development Agreement, as amended, including the Consolidated, Amended and Restated Annexation and Development Agreement, and the PUD Guide: 1.Exit 168 was funded and completed by the District on time and at no cost to the TOA in the first phase of development; 2.The Highway 6 connector road (Post Blvd.), including water and sewer utilities, a bridge and railroad underpass, was completed on time and at no cost to the TOA by the District; 3.East Avon and Chapel Place cash contribution obligations (satisfied by the District) and for public improvement include $2 million and $100,000, respectively; 4.East Beaver Creek Blvd. improvements by the District completed in phases on time and at no cost to the TOA; 5.The District funded and built Swift Gulch Road on time and at no cost to the TOA; 6.TC had an obligation to convey four buildable acres to the TOA for a public works facility that included a fire station. Ultimately, Traer Creek agreed to convey a four-acre site to the TOA for a public works facility, as well as an additional 1.231-acre site for a fire station to Eagle River Fire Protection District. These parcels were conveyed on time and at no cost to the TOA. In connection with the current proposed PUD Amendment, TC is agreeing to expand the use on the TOA’s parcel, also known as “Lot 5,” to include community housing. 7.While not obligated, TC dedicated, at no cost, just over half an acre of turn-key land next to I-70 exit 168 to Eagle County Health Service District. The conveyance resulted in reduced response times to the center of Avon, Minturn and EagleVail; any reduction in response times, even just some seconds, can mean the difference between life and death. 8.TC reimbursed the TOA $50,000 for all third-party consultant fees to review the Annexation Agreement. 9.TC was obligated to convey land or cash-in-lieu to Eagle County School District, however, the school district stated that is does not anticipate needing a school site in the foreseeable future. As opposed to never receiving a school site, Traer Creek conveyed, at no cost to the TOA, 3.536 acres across from the Piedmont Apartments with access to all needed utilities on the valley floor. This parcel is part of the current proposed PUD Amendment that would allow for an early childcare facility and community housing. In the future, TC is further committed to convey an additional 3.764 acres within Planning Area I. Page of 8 23 ATTACHMENT A 10.The District paid the Town $200,000 on time for the Highway 6 recreational trail. 11.The TOA receives a 4% sales tax on the combined 4.75% retail sales fee and add on retail sales fee revenues collected from Village retailers (effectively creating a 0.19% tax on retail sales within the Village). Additionally, the TOA receives the 0.75% add on retail sales fee revenues. Lastly, Eagle County remits to the TOA a 0.15% sales tax rebate from Eagle County tax revenues from retail sales within the Village. As such, the TOA effectively receives a total of 1.09% in sales fee and tax revenues on sales within the Village. To date, assuming $130 million in annual retail sales and property taxes, the TOA has collected about $25 million. 12.While not obligated to do so, Traer Creek, from 2002-2006, advanced about $10.5 million, plus interest, to cover District responsibilities for upfront public improvements required by the TOA as well as sales tax shortfall and municipal services. 13.Planning Area B, a Public Park area, was conveyed to the TOA to allow for parkland construction. Previously, the planned park area was to be financed by the District. Planning Area B will be designed by the TOA in close coordination with Traer Creek for Planning Area A. 14.TC has built a two-acre pocket park between Wal-Mart and Home Depot. Additional pocket parks and bike trails are obligated by future triggers. 15.TC paid $80,000 a year between 2015 and 2019 for asphalt overlay. 16.TC, with no obligation to do so, also paid about $85,000 for landscaping (and replacement of trees due to poor performance of the tree vendor) to further screen areas south of the railroad right-of-way. 17.At the request of the TOA but under no obligation to do so, in 2023, the District completed East Beaver Creek Blvd Extension Phase II. Page of 9 23 ATTACHMENT A CURRENT STATUS OF DEVELOPMENT The Village (at Avon) is an 1,800-acre entitled mixed-use project that includes retail, housing, open space and community infrastructure with thoughtful and sustainable design. Today The Village (at Avon) includes: •Traer Creek Plaza, a LEED- certified, mixed-use commercial building with approximately 26,000 square feet of leasable retail space on the first floor and about 18,000 square feet of leasable office space on the second floor in Planning Area G (PAG). •The 244-unit Buffalo Ridge housing Community Housing complex on the north side of I-70 overlooking The Village (at Avon) and with views of Beaver Creek Mountain in Residential Multiple Family 2 (RMF-2). •The Ambulance District facility, the Fire Protection District Fire Station in Public Facility 2 (PF2). •Two valley floor parcels between Chapel Square and Traer Creek Plaza that were dedicated to the TOA for parks and educational purposes, respectively. •A Wal-Mart Supercenter and Home Depot with Tract E park between them in Planning Area H (PAH). •One parcel dedicated to the Town of Avon for a public works facility is located east of the Home Depot in PF1. •The 240 unit market rate rental apartment project known as the Piedmont in PAF and PAD. •A 243 room hotel (consisting of the Marriott’s SpringHill Suites and TownePlace Suites brands) in Planning Area J (PAJ). •Maverik gas station in PAJ. •The Bosk apartments construction is now underway and will deliver 242 market rate rental units. (PAF) •The Vail Valley Foundation is currently constructing a daycare facility on land provided by Traer Creek to the Town at no cost (PAE). The Village (at Avon) Master Design Review Board is tasked with the tracking of the current development within the Village (at Avon), which is submitted to the TOA. As of July 2025, the Village (at Avon) is developed as follows: Page of 10 23 The Piedmont at the Village (at Avon) includes 240 rental units. (Source: piedmontapts.net) ATTACHMENT A The Village (at Avon) PUD tracking of dwelling units and commercial floor area provides the following: The Village (at Avon) PUD includes a Community Housing Plan. The Plan outlines the requirements for the provision of Community Housing units, based on certain benchmarks of development. At this time, 244 Community Housing units have been provided. The remaining obligation is for an additional 256 Community Housing units once the following conditions are satisfied: •Final Certificates of Occupancy are issued for commercial space of 650,000 sq. ft. of consolidated gross square footage. Planning Area Commercial Gross SF Constructed or being constructed Dwelling Units Constructed (or being constructed) Market Rate Community A 0 0 0 B 0 0 0 C 0 0 0 D 0 71 0 E 13,590 0 0 F 0 411 0 G 44,814 0 0 H 305,744 0 0 I 0 0 0 J 4,425 81 0 K 0 0 0 RMF-1 0 0 0 RMF-2 0 0 244 TOTAL 368,573 563 244 Use Permitted by PUD Constructed (or being constructed) Remaining Commercial Gross SF 825,000 368,573 456,427 Dwelling Units 2,400 807 1,593 Page of 11 23 ATTACHMENT A •Final Certificates of Occupancy for are issued for 1,881 DUs (not including community housing units) There is then a second obligation to provide an additional 23 Community Housing units when Final Certificates of Occupancy are issued for commercial space for a total of 825,000 sq. ft. Below is an analysis of the progression made towards build-out since the original adoption of the Village (at Avon) PUD in 1998 to July 2025: Allowed Constructed (or being constructed) Percentage Commercial Gross SF 825,000 368,573 44.7% Dwelling Units 2,400 807 33.6% Market DU 1,877 563 30.0% Community DU 500 244 48.8% Page of 12 23 ATTACHMENT A CRITERIA FOR REVIEW OF PUD AMENDMENT 1.The PUD addresses a unique situation, confers a substantial benefit to the Town and/ or incorporates creative site design such that it achieves the purposes of this development Code and represents an improvement in quality over what could have been accomplished through strict application of the otherwise applicable district or development standards. Such improvements in quality may include, but are not limited to: improvements in open space provision and access; environmental protection; tree/ vegetation preservation; efficient provision of streets, roads and other utilities and services; or increased choice of living and housing environments. Applicant Analysis: The proposed amendments do not significantly change the PUD’s conformance with this criterion as the overall quality of the PUD is unchanged. Broadly, the PUD provides for a large-scale, master-planned mixed-use development. The uses, dimensional limitations and development standards, among other matters, set forth in the PUD will provide for flexibility in the development of The Village (at Avon) and will encourage innovative and coordinated development and design, consistent with Section 7.16.060 of the Development Code. The PUD provides for a mix of integrated uses and public facilities and amenities, including natural open space, community and pocket parks, trail and pedestrian connectivity, a diverse housing mix and retail and commercial services for The Village (at Avon) and the TOA as a whole. The Declaration of Master Design Review Covenants for The Village (at Avon) and The Village (at Avon) Design Review Guidelines provide for high quality design with respect to the built environment and preservation of open space and existing vegetation. The proposed amendments do not increase the overall permitted density within the Village, rather there is a reallocation to allow for more dwelling units and additional height within Planning Areas C and D to respond to the current market conditions. This furthers the goals of encouraging density on the valley floor and within established areas. The proposed additional height allowance also facilitates this goal. The proposed amendments result in more efficient use of existing streets, roads and other utilities and services, as well as increased choice of living and housing environments. The allowance for 280 units accessing off a cul-de-sac is currently imbedded in the PUD Guide, and has been established within there since the original adoption in 1998. More recent versions of the International Fire Code have adopted a standard which limits the number of units to 200. The proposed amendment to the PUD is included to note that the current standard of 280 remains in effect. The proposed application complies with this criterion. 2.The PUD rezoning will promote the public health, safety and general welfare. Applicant Analysis: The proposed amendments do not significantly change the PUD’s conformance with this criterion as the overall impacts of the PUD are unchanged. Page of 13 23 ATTACHMENT A The existing PUD was found to promote the public health, safety, and general welfare of the community and the amendments proposed do not change this overall condition. The amendments do promote this criterion by increasing the choice of living and housing environments and opportunities within the TOA without new impacts being generated since the overall density and intensity of development within the PUD is unchanged. The proposed application complies with this criterion. 3.The PUD rezoning is consistent with the Avon Comprehensive Plan, the purposes of this Development Code and the eligibility criteria outlined in Subsection 7.16.060(b). Applicant Analysis: The Avon Comprehensive Plan provides the following regarding the Village (at Avon): The Village (at Avon) District is Avon’s eastern gateway and when fully developed, it will generally be an extension of Town Center. The area is planned for commercial, residential, lodging, educational, and cultural/recreational uses. The District is characterized by high visibility from I-70, generally gentle topography, and proximity to Town Center and other highly developed areas of Eagle-Vail. The District is managed by an independent Design Review Board that reviews development applications. The Village Design Review Board refers development proposals to the Town’s Planning and Zoning Commission for comments, and not for approval, ratification, or disapproval. The Town should take an active role where possible in promoting positive development within the area. Site development elements, public design elements such as street alignments, streetscape furnishings, signage, and lighting should be coordinated between the Village (at Avon) and the Town. Planning Principles: Encourage and support development that: ‣Creates strong auto, bicycle, and pedestrian connections between Town Center via both East Beaver Creek Boulevard and Chapel Place. ‣Creates inviting public plazas, green spaces, water features, streetscapes, sidewalks, and other gathering spaces for public interaction. ‣Creates inviting retail, restaurant, and entertainment uses on the ground floor of buildings through architectural detailing that includes a human scale, display windows, appropriate lighting, and other pedestrian amenities. ‣Sites offices, lodging, and residential uses above ground floor uses. ‣Sites buildings of various sizes (but shorter than those found in the Town Center District) on the valley floor. ‣Avoids large single-use buildings set back from the street edge that are surrounded by expanses of parking. ‣Provides well-lit, pleasant pedestrian access from underground parking structures to public streets, paths, and buildings. Page of 14 23 ATTACHMENT A ‣Provides shared parking structures and parking districts to accommodate vehicles without large expanses of ground level parking. ‣Screens regional commercial uses from I-70 with trees and berms to create a suitable gateway to the Town. ‣Protects view corridors, ridgelines, U.S. Forest Service lands, and steep slopes from development. ‣Landscapes properties to soften the visual impact of the structures. ‣Preserves significant cultural or heritage resources and important views. ‣Maximizes orientation to the river for connections and a riverfront park. ‣Preserves all or part of the eastern hillside for open space or park space. ‣Prioritizes eastern access on U.S. Highway 6 instead of a frontage road. ‣Creates connections and trailheads through the District that connect to USFS land. (2017 Comprehensive Plan, pg. 36) The proposed amendments allow the PUD to maintain its compliance with the Avon Comprehensive Plan because the amendments promote urban center design goals of shifting density to developed areas adjacent to commercial services. The proposed amendments will produce public benefits by allowing residential density and height to the appropriate areas. As a PUD Amendment, the eligibility criteria are not applicable to this PUD amendment. The proposed application complies with this criterion. 4.Facilities and services (including roads and transportation, water, gas, electric, police and fire protection and sewage and waste disposal, as applicable) will be available to serve the subject property while maintaining adequate levels of service to existing development. Applicant Analysis: The proposed amendments do not significantly change the PUD’s conformance with this criterion as the PUD as a whole was found to address all of the issues raised by this criterion. Since the proposed amendments do not increase the overall density and intensity of development within the PUD other than to shift more to the valley-floor where infrastructure generally exists, there are no greater impacts to the facilities and services here. The proposed application complies with this criterion. 5.Compared to the underlying zoning, the PUD rezoning is not likely to result in significant adverse impacts upon the natural environment, including air, water, noise, storm water management, wildlife and vegetation, or such impacts will be substantially mitigated. Applicant Analysis: Page of 15 23 ATTACHMENT A The proposed amendments do not significantly change the PUD’s conformance with this criterion as the PUD as a whole was found to address or mitigate all of the issues raised by this criterion. Since the proposed amendments do not increase the overall density and intensity of development within the PUD, there are no greater impacts to the issues raised here. The proposed application complies with this criterion. 6.Compared to the underlying zoning, the PUD rezoning is not likely to result in significant adverse impacts upon other property in the vicinity of the subject tract. Applicant Analysis: The proposed amendments do not significantly change the PUD’s conformance with this criterion as the PUD as a whole was found to address or mitigate impacts to property in the vicinity of the existing PUD. The following table provides a comparison of the current and proposed density and height allowances in Planning Areas A, C, and D. It is challenging to understand the effects of the height increase without visualizations demonstrating similar heights. The applicant identified buildings throughout town and Planning Staff provided the heights on-record for those buildings. This analysis provided the following: Planning Area Density Allowed (current) Density Proposed Height Allowed (current) Height Proposed PAA 25 dwelling units per acre No change 55’ within 250’ of south boundary 80’ remainder, up to 110’ as Special Review Use 60’ within 250’ of south boundary with an SRU 80’ remainder, up to 110’ as Special Review Use PAC and PAD 18 dwelling units per acre 40 dwelling units per acre 48’60’ within 250’ of south boundary (5 stories) 60’ / up to 74’ beyond 250’ as Special Review Use PAJ No change No change Single-family and duplex: 35 ft.  Multiple-family: 48 ft.  Mixed Use: 48 ft. Residential and Vertically- Integrated Mixed Use: 60 ft. with maximum of 5 stories Page of 16 23 ATTACHMENT A Page of 17 23 Front Gate - 60’The Piedmont - 52’ Springhill Suites - 54’1 Waterfront Way - 57.75’ The Ascent - 74’Wyndham - 80’ ATTACHMENT A These examples show that the additional height is similar to many projects throughout town and are done in a manner that create an interest and variety throughout. The height of 1 Waterfront Way is most similar to that proposed for PAC and PAD for those areas within 250 ft. of the southern boundary of the PUD. With its varying roof form and articulated facade, it does not feel overwhelming to the street or pedestrian pathways adjacent. It is adjacent to much lower homes and fits seamlessly within the overall development. The Ascent, at 74 ft., is the height proposed as a Special Review Use within PAC and PAD. Due to the distance from neighboring properties, it will have little impact on the residential neighborhood to the south. The following map shows 250 ft. from the southern boundary of the PUD. It is shown for PAA, PAC, and PAD, as anything to the north of the line requires a Special Review Use for greater height limits (PAA = up to 110 ft., PAC and PAD = up to 74 ft.) Additionally, RMT Architects has provided the following sections to graphically show the progression of allowable heights across the valley floor of the PUD. These help to put the height limits in perspective with existing buildings and improvements, and illustrates the distance from any adjacent properties: Page of 18 23 Yellow line shows the approximation of 250’ from southern boundary ATTACHMENT A The allowance for an increase in density in Planning Areas C and D does not increase the density of the PUD, which remains capped at 2,400 dwelling units. Instead, it shifts the density to the area where density is most desired and encouraged by the TOA, as evidenced in the Avon Downtown Development Authority Plan: Page of 19 23 ATTACHMENT A Planning Area C is another planned mixed-use area with 24 acres (before North Road construction) of potential development between Interstate 70 and the planned linear park system. Planning Area D includes the balance of mixed-use valley floor development potential, with 14.4 acres. This area is zoned for 18 units per acre and also includes hotel and guest accommodation possibilities, educational uses, and hospital uses. (pg. 5, Avon Downtown Development Authority Plan) Allowing additional building height in Planning Areas A, C, and D is not a change producing any type of “significant adverse impact” upon neighboring properties. The additional height is mitigated by this great distance, as well as the backdrop of the hillside and I-70. Additionally, the allowance for a Special Use Permit request for additional height for areas greater than 250 ft. from the southern border of the PUD, ensures that the larger masses will be an appropriate distance from lower buildings adjacent to the PUD. The proposed application complies with this criterion. 7.Future uses on the subject tract will be compatible in scale with uses or potential future uses on other properties in the vicinity of the subject tract. Applicant Analysis: The proposed amendments do not significantly change the PUD’s conformance with this criterion as the PUD as a whole was found to address compatibility in scale with uses on other properties within the vicinity. The change in density and building height still allows the PUD to remain compatible in scale with uses in the vicinity, as indicated in the analysis above. Additionally, the amendment to clarify maintaining the allowance of 280 units served by a cul-de-sac is consistent with other developments in the Town of Avon, such as Wildridge, which accesses over 800 dwelling units. The proposed application complies with this criterion. Page of 20 23 ATTACHMENT A GUIDELINES FOR VESTING EXTENSION The vesting extension requests are limited to Tract K, RMF1, and Block 3 of PAJ for an additional 20 years. 1.The size and phasing of the development, specifically, but not limited to, whether the development can be reasonably completed within the vested rights period. Applicant Analysis: The Village (at Avon) encompasses 1,779 acres of land within the Town of Avon. Given the timeframe to deliver off-site and on-site infrastructure and improvements, the extension of vested rights is necessary to align with the TOA’s and TC’s vision. PAK is envisioned as large lot residential while RMF1 and Block 3 (PAJ) are mid-density residential. The pace of development in this area is restricted by the need for significant infrastructure outlay including the development of a water tank to serve the entire area and a significant roadway. Additionally the design and permit process for these areas will take years to complete. There is no real economic impact to the community by allowing this area to be one of the last that is developed within the PUD. The development of this area is likely 25 years out before it can be developed and absorbed into the marketplace. Traer Creek is requesting an extension to 2059, an additional 20 years. 2.Economic cycles and specifically but not limited to resort community economic cycles, regional and state economic cycles and national economic cycles. Applicant Analysis: Resort economic cycles typically follow a similar pattern of boom and bust that is influenced by factors such as economic conditions and consumer confidence, along with Page of 21 23 Traer Creek Vesting Extension request of 20 years ATTACHMENT A tourism and lodging trends. As evident in recent cycles, external events such as natural disasters, changes in government policies, or shifts in consumer preferences can also influence the timing and intensity of resort real estate cycles. Construction costs can also influence development cycles. All of this has played a role in the timing of development on the mountain side properties. 3.Market conditions and specifically but not limited to absorption rates for leasing and sales of similar development projects. Applicant Analysis: The vesting extension request is only related to the mountain side residential development and thus has no impact on leasing and sales associated with commercial development. Design, development, and absorption of residential development in this area is mostly affected by infrastructure costs necessary to allow development to move forward. It will take 15-20 years to fully absorb residential product in this mountain side area once platted and developed. 4.Compliance with the Avon Comprehensive Plan and other community planning documents. Applicant Analysis: As indicated in the criteria for the PUD Amendment above, the extension of vesting rights for PAK, RMF1, and Block 3 are consistent with the Avon Comprehensive Plan, and the Avon Downtown Development Authority Plan. The vesting extension simply allows for additional time to complete projects with the Village (at Avon). 5.Proposed public amenities and benefits that enhance the project and the overall attractiveness of the Avon community, including the degree to which such public amenities and benefits are defined in terms of design, timeframe and phasing with development. Applicant Analysis: Due to the nature of the vesting request, it does not impact the provision of the public amenities and benefits of the Village (at Avon). Additionally, the overall attractiveness of Avon is preserved within the Village (at Avon) through their strong commitment to the Design Review process for all buildings within the PUD. A representative from the TOA also sits on the Village (at Avon) Design Review Board. The PUD, along with various agreements, provides and defines the triggers within the various Planning Areas to guarantee public amenities and benefits. 6.Projected public financial benefits or costs estimated to be caused by the development project, including the timeframe for realization by the Town or other public entities and potential costs for operation and maintenance of any new public amenities or infrastructure dedicated to the Town or other public entities. Applicant Analysis: Given the scope of the vesting extension being requested, there is little financial or cost implications related to the vesting request. Public financial benefits are generally related to the development of the valley floor which is progressing. The mountainside Page of 22 23 ATTACHMENT A residential development lagging behind the other planning areas will not significantly affect these issues. 7.The breadth and scope of the requested vested property right, including but not limited to the extent to which such vested property right restricts the Town's ability to apply future legislatively adopted fees and regulations for the purpose of providing public infrastructure, public services and public facilities and for the purpose of meeting evolving community needs. Applicant Analysis: The TOA’s ability to apply fees and/or regulations to the Village (at Avon) PUD are provided for within the PUD and various other agreements. These have been established historically and will remain in effect with the proposed vesting extension. The extension of vesting on the mountain side has little effect on these issues. 8.The terms of any existing site specific development plans with development agreements for the applicant's property that specify the duration of vested property rights. Applicant Analysis: As part of this submittal and should the PUD Amendments and Extension of Vesting Rights be approved, all applicable agreements between TC and the TOA will be amended to reflect what has been approved. These proposed amendments have been submitted under separate cover. No existing site-specific development plans are affected by the vesting extension on the mountain side area. 9.Any proposed modifications to previously approved vested property rights to address changed conditions within the Avon community, compliance with the Comprehensive Plan and other community planning documents or performance of previously approved site specific development plans. Applicant Analysis: As provided in this submittal, the proposed PUD amendments and vesting extension remain consistent with the Town of Avon Comprehensive Plan. The PUD amendments are proposed to address changing conditions since the original adoption of the Village (at Avon) PUD. All other site-specific development plans have been completed and there are no impacts to any site-specific development plans given the limited scope of the vesting extension. 10.Any other factors deemed relevant by the Council when determining to grant a vested property right for a period greater than three (3) years. Applicant Analysis: The applicant is happy to address any additional concerns by the Council during the review process. Page of 23 23 ATTACHMENT A The Village (at Avon) SecondThird Amended and Restated PUD Guide September 11, 2018 _____________, 2025 Pursuant to Section 7.16.140(d) of the Development Code: Approval of this plan constitutes a vested property right pursuant to Article 68 of Title 24, C.R.S., as amended, and Title 7, Chapter 16 of the Avon Municipal Code as amended. 1650530.6 2985509.10 ATTACHMENT B Table of Contents TABLE OF CONTENTS Page i 2985509.10 A.PURPOSE/GENERAL PROVISIONS 1 1.Defined Terms 1 2.Purpose 1 3.Vested Property Rights 2 4.General Provisions 32 5.Applicability of Other Regulations 65 6. Conflict 6 B.TOTAL PERMITTED DENSITY 6 C.GENERAL LAND USE DESIGNATIONS 10 1.Designations 10 2.Permitted Uses 11 D.DEVELOPMENT STANDARDS WITHIN THE VILLAGE (AT AVON) PUD 11 1.General 11 2.Planning Area A - Village Center Mixed Use Project 12 3.Planning Area B - Community Facilities 16 4.Planning Areas C and D - Village Residential Mixed Use Projects 1718 5.Planning Area E – School 2021 6.Planning Areas F, G, H and I – Regional Commercial Mixed Use Projects 22 7.Planning Area J – Regional/Neighborhood Commercial and Residential Mixed Use Projects 2728 8.Planning Area K - Hillside Residential 3031 9.Planning Areas RMF 1 and RMF 2 - Residential Multi-Family 3233 10.Planning Areas P1-P3: Parkland 3536 11.Planning Areas OS1 – 0S7OS7: Natural Open Space 3738 12.Planning Areas PF-1 –-2 and PF-3: Public Facility 3839 13.Planning Areas CH-1 and CH-2 – Community Housing 41 E.SPECIAL REVIEW USE 4043 1.Special Review Use Permit 4043 2.Application Filing and Processing 4043 3.Submittal Requirements for Special Review Use 4144 ATTACHMENT B Table of ContentsTABLE OF CONTENTS (continued) Page ii 2985509.10 4.Criteria for Review, Recommendation, and Approval of Special Review Uses 4144 5.Amendments to Special Review Use Permit 4245 F.TEMPORARY USES AND STRUCTURES 4245 G.SUBDIVISION 4345 1.General; Applicability 4345 2.Application Submittal Items 46 3.Procedure 47 4.Criteria for Review and Approval 47 5.Material Modification to Certain Street Connections 4548 H.DEVELOPMENT PLAN AMENDMENT PROCEDURES 4649 1.General 4649 2.Formal Amendments 4649 3.Administrative Amendments 4649 4.Modifications Not Requiring Amendment 4952 I.SUPPLEMENTAL REGULATIONS 5053 1.Interim Uses 5053 2.Solid Fuel Burning Devices 5054 3.Signs 5054 4.Parking Requirements 5154 5.Surface Parking Landscaping Requirements 5154 6.Drainage Requirements 5154 7.Sidewalk and Trail Standards 5255 8.Alternative Equivalent Compliance and Variances 5255 9.Supplemental Design Standards: Planning Area J Hotel, Motel and Lodge Requirements 5255 10.Wildlife Mitigation Plan 5357 11.Design Review Guidelines 5457 12.Natural Resource Protection 5458 13.Residential Fire Suppression Systems 5458 14.Park, Recreation and Trail Access 5558 ATTACHMENT B Table of ContentsTABLE OF CONTENTS (continued) Page iii 2985509.10 15.AffordableCommunity Housing Plan 5558 16. Provision of Certain Amenities 5761 EXHIBIT A Legal Description A-1 EXHIBIT B PUD Master Plan B-1 EXHIBIT C The Village (at Avon) Parking Regulations C-1 EXHIBIT D Wildlife Mitigation Plan D-1 EXHIBIT E Minimum Design Guideline Standards E-1 EXHIBIT F Street Standards F-1 EXHIBIT G Municipal Code Provisions Not Applicable to The Village (at Avon) PUD G-1 EXHIBIT H DEFINITIONS H-1 EXHIBIT IH Section 7.16.070 of Development Code IH-1 EXHIBIT I Definitions I-1 ATTACHMENT B The Village (at Avon) SecondThird Amended and Restated PUD Guide September 11, 2018 _____________, 2025 A.PURPOSE/GENERAL PROVISIONS.. 1.Defined Terms. Capitalized words and phrases used in this PUD Guide have the meanings set forth in Exhibit HI of this PUD Guide. Words and phrases which are not defined in Exhibit HI of this PUD Guide but are defined in the Development Code shall have the meaning as defined in the Development Code. Where any word or phrase defined in Exhibit HI of this PUD Guide is the same or substantially similar to a word or phrase defined or used in the Development Code, the word or phrase defined in Exhibit HI of this PUD Guide shall be the sole and exclusive definition of such word or phrase. Any word or phrase which is not defined in Exhibit HI of this PUD Guide and not defined in the Development Code, but is defined elsewhere in the Municipal Code, shall not be presumed to have the specific meaning given such word or phrase in the Municipal Code unless expressly stated herein. Notwithstanding any provision of this Section A.1, if, subsequent to the Original Effective Date, the Town amends from time to time any definitions set forth in the Development Code, the Master DeveloperLandowner, in its sole discretion, may, from time to time, consider amendment of this PUD Guide to incorporate such amended definitions herein, which amendment(s), if any, shall be processed in accordance with the administrative amendment procedure set forth in Section H.3. 2.Purpose.. (a)The Village (at Avon) PUD encompasses the Property, which is a large parcel of land under unified development control of the Master DeveloperLandowner (together with and on behalf of the Developer AffiliatesAffiliated Landowners) as of the Effective Date. This PUD Guide (including each Exhibit attached hereto) shall control the zoning, Uses, Development Standards, development application review procedures for the Property to the extent set forth in this PUD Guide, pursuant to Section 7.16.060 Planned Unit Development (PUD) of the Development Code, adopted pursuant to 1650530.6 2985509.10 ATTACHMENT B C.R.S. §24-67-104 and pursuant to the Avon’s Home Rule Authority, which implements the Planned Unit Development Act of 1972, Sections 24-67-101 et seq., C.R.S. (b)The Original PUD Guide previously was amended by and includes (collectively, the “Prior Amendments”): (i)PUD Development Plan Administrative Amendment No. 1 (amending the PUD Master Plan only), dated May 21, 2001, and recorded in the real property records of Eagle County, Colorado, on July 31, 2001 at Reception No. 763439. (ii)PUD Guide Administrative Amendment No. 2, dated February 13, 2002, and recorded in the real property records of Eagle County, Colorado, on February 29, 2002 at Reception No. 786254. (iii)PUD Guide Administrative Amendment No. 3, dated May 15, 2002, and recorded in the real property records of Eagle County, Colorado, on May 15, 2001 at Reception No. 795806. (iv)PUD Guide Administrative Amendment No. 4, dated May 15, 2002, and recorded in the real property records of Eagle County, Colorado, on May 15, 2002 at Reception No. 795805. (v)Formal Amendment Number One to The Village (at Avon) PUD Guide, dated January 25, 2007, and recorded in the real property records of Eagle County, Colorado, on March 2, 2007 at Reception No. 200705491. (c)In accordance with the terms and conditions of that certain SETTLEMENT TERM SHEET made and entered into the 7th day of October, 2011, by and between the Town of Avon, BNP Paribas, Traer Creek Metropolitan District, Traer Creek LLC, Traer Creek-RP LLC, Traer Creek Plaza LLC , EMD Limited Liability Company, Traer Creek-HD LLC, and Traer Creek-WMT LLC (the “Settlement Term Sheet”), the Town’s final non-appealable approval of the Amended and Restated PUD Guide amended and replaced the Original PUD Guide in its entirety, including the incorporation into a single document of the Prior Amendments and the amendments contemplated in the Settlement Term Sheet, for ease of reference, and established and implemented specific terms and conditions of the Settlement Term Sheet, binding on all parties to the Settlement Term Sheet. (db)The purpose of this PUD Guide is to amend and restate in its entirety the Amended and RestatedOriginal PUD Guide to implement certain modifications thereto concerning, among other matters, Planning Area FAreas A, C, D, E, I, J, K, RMF-1, CH-1, and CH-2, the Community Housing Plan, applicable requirements and criteria pertaining to the maximum number of Dwelling Units that can be constructed on a cul-de sac, and clarify certain matters with respect to the operation of Short Term Rentals. Accordingly, this PUD Guide expressly replaces and supersedes the Amended and RestatedOriginal PUD Guide and any additional or conflicting provisions of the Municipal Code with respect to the subject matter contained herein. 1650530.6 2 2985509.10 ATTACHMENT B 3.Vested Property Rights. The Development Plan and any subsequently approved Preliminary Plans and Final Plats approved subsequent to the Original Effective Date, together with any amendments to any of the foregoing, constitutes an approved “site-specific development plan” as defined in the Vested Property Rights Statute and pertinent provisions of the Municipal Code. Without limiting the generality of the foregoing, the Landowners of the Property shall have Vested Property Rights to undertake and complete development and use of the Property as provided in the Development Plan, and as set forth in Section 2.4 of the Development Agreement. The Vested Property Rights so established shall be and remain vested for the “Vesting Term” (asinclusive of the Primary Vesting Term and Mountainside Vesting Term), as such terms are defined in the Development Agreement). Pursuant to the Municipal Code, as in effect on the execution date of the Settlement Term SheetOctober 7, 2011: Approval of the Development Plan constitutes a vested property right pursuant to Article 68 of Title 24, C.R.S., as amended, and Title 7, Chapter 16, of the Avon Municipal Code as amended. Upon and after expiration of the “Vesting Term” (as defined in the Development Agreement), this PUD Guide and any amendments thereto shall continue to be the zoning for the Property, provided that the Town shall have the authority, if any, to amend this PUD Guide without the consent of the Master DeveloperLandowner or any other owner of the Property, or any portion thereof, in accordance with applicable law. 4.General Provisions.. (a)Control Over Use, Location and Bulk. The Development Plan shall control the Use, location and bulk of Buildings and Structures from and after the Effective Date, and subject to compliance with the Development Standards set forth in the Development Plan for the affected Planning Area and any additional or more restrictive standards and requirements set forth in the Design Review Guidelines or the Design Covenant: (i)For any new Building or Structure, and any parcel of land or Site; and (ii)For any changes or extensions of Use of any existing Building, Structure, parcel of land or Site; and (iii)The Design Review Board shall, in conformance with the Development Plan, establish the final location, Use and bulk of all future Buildings, Structures and improvements; and (iv)Any existing Building or Structure may be enlarged, reconstructed, structurally altered, converted or relocated for any purpose or Use permitted or required by the provisions of this PUD Guide that is applicable to the Site in which such Building, Structure, Site or parcel of land is located, and for no other purposes or Uses. 1650530.6 3 2985509.10 ATTACHMENT B (b)Incorporation of PUD Master Plan. The PUD Master Plan, together with everything shown thereon and all amendments thereto approved by the Town subsequent to the Effective Date, is hereby incorporated by reference into this PUD Guide as Exhibit B. (c)Comprehensive Plan. The Comprehensive Plan applies to the Village at (Avon), and no amendments to the Comprehensive Plan approved by the Town subsequent to the Original Effective Date shall apply to The Village (at Avon). (d)Design Covenant. The Property is encumbered by and subject to the Design Covenant, which governs matters related to Uses and development of all or any portion of the Property. Where any conflict between the Design Covenant and the Development Plan may occur, the more restrictive provision shall govern. (e)Design Review Board. As contemplated by the Design Covenant, the Design Review Board has been organized to administer and enforce the Design Covenant and Design Review Guidelines. In accordance with the Design Covenant, the Design Review Board shall have authority to review and is the sole and exclusive authority to approve the architectural design, landscape design, urban design and site design within the Property, subject to the Town Council’s right of enforcement the Design Review Guidelines as set forth in Section I.11(c). The Design Review Board shall (i) refer to the Planning and Zoning Commission, for comment only and not for approval, ratification or disapproval, all development proposals submitted to the Design Review Board for portions of the Property located south of Interstate 70 and all portions of the Property located north of Interstate 70 other than Planning Areas K and RMF-1 (with respect to which the Design Review Board shall have no obligation to refer development proposals to the Planning and Zoning Commission); and (ii) give prior written notice to the Director, or his designee, of each meeting of the Design Review Board at which the Design Review Board shall initially consider any submitted development proposal(s), which notice shall include the date, time, location and general subject matter of the meeting. At Master Developer’sLandowner’s option, one or more separate design review boardboards may be established with respect to such Planning Areas RMF-1-1 and K. Such design review board(s) shall not be required to include any Town appointed representative as a member. The Town’s approval of any building permit within the Property is conditioned upon the Town’s prior receipt of a certificate of approval executed by the President of the Design Review Board. (f)Design Review Guidelines. Pursuant to the Design Covenant, the Design Review Board has prepared, approved and promulgated the Design Review Guidelines to supplement and complement this PUD Guide. Where any conflict may occur between the Design Review Guidelines and the Development Plan, the more restrictive provision shall govern. (g)Planning Areas and Boundaries, Road Alignments, Lot Lines. (i) The street and road alignments depicted on the PUD Master Plan are either designated thereon as either permanent, temporary (not permanent and 1650530.6 4 2985509.10 ATTACHMENT B intended to be replaced in the future) or conceptual alignments. Notwithstanding any contrary provision of this PUD Guide, until such time as made permanent or temporary in connection with an approved and executed Public Improvements Agreement, the conceptual alignments are non-binding and provided only for illustrative purposes to show one of various potential alignments and vehicular ingress and egress between Planning Areas. The alignment of future temporary and permanent streets shall be subject to review and approval by the Town in connection with subdividing the applicable portion of the Property and submittal by the Applicant of engineered road design plans, as set forth in Section G of this PUD Guide. The Applicant shall be required to submit engineered road design plans for, and shall be required to construct, only the portion of a street that is necessary to serve the phase and property subject to the applicable Application, and the Applicant shall not be required to extend or continue such street beyond the Property Line of the Site that is the subject of the applicable Application provided that such street terminates in a turn-around, cul-de-sac or like termination (temporary or permanent, as applicable) to permit emergency vehicle turn-around in accordance with the requirements of the Development Code. Notwithstanding the foregoing, if such street is depicted on the PUD Master Plan to extend and continue further than such phase and property subject to the Application and connect to existing or future planned street(s), such Applicant shall submit as a part of its Application Preliminary Engineering for the planned extension and continuation of the subject street which is sufficient to demonstrate that the alignment and grade of the construction of a portion of the street shall be adequately designed to allow extension and continuation of the subject street in compliance with applicable road, utility and drainage standards. (ii)Planning Area boundaries shall be construed as follows: (i) whenever a Planning Area abuts an exterior boundary of the Property, the Planning Area shall be construed to coincide with such exterior boundary of the Property; (ii) wherever a street abuts a Planning Area as shown in the PUD Master Plan, the Planning Area boundary shall be construed to coincide with the center line of such abutting street; and (iii) wherever a Planning Area contains or otherwise does not abut a street or the exterior boundary of the Property, the Planning Area boundary shall be as shown in the PUD Master Plan. (h)Issuance of Building Permits; Design Review Board Certification. (i)Provided an Application for issuance of a building permit (or grading permit, etc.) complies with the Town’s Building Code (as defined in the Development Code) and the Development Plan, the Town shall issue such building permit (or grading permit, etc.) for any construction, improvements or alterations of a Building, Structure or other form of development requiring a building permit (or grading permit, etc.) for which the plans, specifications and details have been reviewed and approved by the Design Review Board as defined herein. A certificate of approval executed by the President of the Design Review Board shall be affixed to the plans and specifications made a part of each building permit, grading permit, temporary certificate of occupancy, permanent certificate 1650530.6 5 2985509.10 ATTACHMENT B of occupancy, etc. Application prior to the Town’s approval thereof. To facilitate efficient review and approval of building permits (grading permits, etc.), the Town’s building department may accept for processing a building permit (or grading permit, etc.) concurrently with such Applicant’s submittal of plans, specifications and details to the Design Review Board for review and approval of such permit; provided, however, the Town shall not approve any Application for a building permit (or grading permit, etc.) or temporary or permanent certificate of occupancy unless a certificate of Design Review Board approval is affixed thereto as required by this Section A.4(h)(i), such issued certification of Design Review Board approval being an express condition precedent to the Town’s approval of any Application for a building permit (or grading permit, etc.) or temporary or permanent certificate of occupancy. (ii) Additionally, the Design Review Board certification shall affirmatively state the Design Review Board’s confirmation, and the Director shall confirm, an Application’s compliance with the supplemental design and improvement standards set forth in Section I.9 prior to issuing a building permit for construction of a Building designated for Hotel, Motel and Lodging Uses within Planning Area J. 5.Applicability of Other Regulations.. (a)General. Except as otherwise expressly provided in the Development Plan, the establishment of Vested Property Rights pursuant to the Development Agreement shall not preclude the application on a uniform, non-discriminatory and consistent basis of Town regulations of general applicability (including, but not limited to, building, fire, plumbing, electrical and mechanical codes, the Municipal Code, and other Town rules and regulations), or the application of state or federal regulations, as all of such regulations existed on the Original Effective Date or may be enacted or amended after the Original Effective Date; provided, however that such newly enacted or amended Town regulations shall not directly or indirectly have the effect of materially and adversely altering, impairing, preventing, diminishing, imposing a moratorium on development, delaying or otherwise adversely affecting any of Master Developer’s, Developer AffiliatesLandowner’s, Affiliated Landowners’ or other Landowners’ substantive or procedural rights set forth in the Development Agreement, this PUD Guide or any approved Final Plat for any portion of the Property. Neither Master Developer, Developer AffiliatesLandowner, Affiliated Landowners nor any Landowner waive their right to oppose the enactment or amendment of any such regulations. (b)Modifications and Exceptions. As set forth in Sections F through I of this PUD Guide, certain provisions of the Municipal Code either are superseded in their entirety by this PUD Guide or apply within The Village (at Avon) but are subject to the modifications set forth in such sections. Additionally, the provisions of the Municipal Code which are set forth in Exhibit G of this PUD Guide are, without limiting any other present or future regulations or provisions of the Municipal Code which have similar effect from being similarly excepted, specifically identified as provisions that directly or indirectly have the effect of materially and adversely altering, impairing, preventing, 1650530.6 6 2985509.10 ATTACHMENT B diminishing, imposing a moratorium on development, delaying or otherwise adversely affecting Master Developer’s, Developer AffiliatesLandowner’s, Affiliated Landowners’ or other Landowners’ rights (whether Vested Property Rights or other right) set forth in the Development Agreement, this PUD Guide or any approved Final Plat for any portion of the Property, and therefore shall not be applicable within The Village (at Avon) PUD. 6.Conflict. The Development Standards and other terms, conditions and criteria set forth in the Development Plan shall prevail and govern the development of The Village (at Avon). Where the Development Plan does not address a specific subject, the applicable provisions of the Municipal Code shall, to the extent such Municipal Code provisions are not in conflict or otherwise inconsistent with any provision of the Development Plan, control the development of The Village (at Avon). Additionally, application of such Municipal Code provisions shall not directly or indirectly have the effect of materially altering, impairing, preventing, diminishing, imposing a moratorium on development, delaying, or otherwise materially adversely affecting any of Master Developer’s, Developer AffiliatesLandowner’s, Affiliated Landowners’ or other Landowners’ Vested Property Rights set forth in the Development Plan. Provisions of the Design Review Guidelines which are more restrictive than either the Development Plan or the Municipal Code shall prevail in any instance where there is a conflict. B.TOTAL PERMITTED DENSITY. The total permitted density for The Village (at Avon) PUD shall not exceed: 1.Planning Areas A, C, D, E, F, G, H, J, K,CH-1, CH-2 RMF 1 and RMF 2 shall not exceed: (a)Commercial Uses. 825,000 consolidated Gross Square Footage of Commercial Space. (b)Dwelling Units. 2,400 Dwelling Units. Pursuant to the terms of the AffordableCommunity Housing Plan, 500 of the 2,400 Dwelling Units shall be constructed as affordable housingCommunity Housing Units, and, subject to satisfaction of the conditions precedent set forth in the AffordableCommunity Housing Plan, an additional 23 of the 2,400 Dwelling Units shall be constructed as affordable housingCommunity Housing Units. 2.The permitted Commercial Use and Dwelling Unit densities within Planning Area I shall be determined in the future pursuant to the formal amendment procedures set forth in Section H of this PUD Guide; provided, however, the permitted Commercial Space for Planning Area I shall not be less than 196,970 consolidated Gross Square Footage (which shall be in addition to the 825,000 square feet of consolidated Gross Square Footage stated in Section B.1(a)), and the permitted Dwelling Units shall not be less than 750 Dwelling Units. The Town acknowledges that Planning Area I is entitled to be developed as mixed-use development, and Uses may include Residential Uses, Commercial Uses, and public and 1650530.6 7 2985509.10 ATTACHMENT B 1650530.6 8 2985509.10 80%20% Planning Area 70% Min% Planning Areas C and D Max% 90% Residential 100% Min% 0% institutional uses at densities in addition to those set forth above as approved by the Town. Until such time as a secondary access road is constructed, no non-Residential Uses shall be allowed and the maximum density of Dwelling Units shall not exceed 280 Dwelling Units. 3.Density calculations, as applicable, for development of Dwelling Units within all Planning Areas where Residential Uses are permitted shall be based on the gross acreage within the applicable Planning Area as reflected in the land use table contained in the PUD Master Plan. Density calculations shall be on a Planning Area by Planning Area basis rather than on a Final Plat by Final Plat basis or on a Site by SiteSite-by-Site basis. 4.Subject to the requirement that the maximum number of Dwelling Units within any particular Planning Area, as applicable, shall not exceed that permitted under the terms and conditions of this PUD Guide, as applicable, the actual number of Dwelling Units per acre within a particular Final Plat or Site within the affected Planning Area may exceed the maximum number of Dwelling Units per acre based on the acreage within such Final Plat or Site. By way of example, in a Planning Area containing 20 acres and subject to a maximum residential density of 18 Dwelling Unit per acre (i.e., a total of 360 Dwelling Units), a 10 acre Site within that Planning Area would be permitted to be developed with 300 Dwelling Units (i.e., 30 Dwelling Units per acre) but the remaining 10 acres could be developed with no more than 60 Dwelling Units, with the resulting density within such Planning Area in the aggregate being 18 Dwelling Units per acre (i.e., (300 + 60 = 360 Dwelling Units) / 20 acres = 18 Dwelling Units per acre). 5.Density calculations for development of Residential Uses within Planning Areas A through I, RMF 1 and RMF 2 shall exclude areas with slopes exceeding 40%. Notwithstanding the foregoing, areas with slopes exceeding 40% created by the placement of dirt stockpiles shall not be excluded for density calculations for development of Residential Uses within Planning Areas A through I, RMF 1 and RMF 2. 6.At final build-outbuild-out of the particular Planning Area, the following minimum and maximum ratios of consolidated Gross Square Footage of Commercial Space and consolidated Gross Square Footage of Residential Uses, stated as a percentage of the aggregate Gross Square Footage the Planning Area [e.g., Gross Square Footage of Commercial Space ÷ (Gross Square Footage of Commercial Space + consolidated Gross Square Footage of Residential Uses) = percentage of Gross Square Footage of Commercial Space], shall apply within the following Planning Areas: 10% Max% Commercial Planning Area F 70%100% Planning Area A 0% 30% 30% ATTACHMENT B 1650530.6 9 2985509.10 50%50%Planning Areas G and H 100% 7.Although classified as a Commercial Use, Accommodations Units (including those within Bed and Breakfasts, Extended Stay Hotels, Hotel, Motel and Lodge, Temporally Divided Dwelling Units, Vacation Homes and similar Commercial Uses) are considered Dwelling Units for purposes of Dwelling Unit calculation and tracking and are considered Residential Uses for purposes of Section B.6. 8.In calculating the number of Dwelling Units within The Village (at Avon): (a)Each Single-family Dwelling shall be counted as one (1) Dwelling Unit. (b)Each Duplex Dwelling shall be counted as two (2) Dwelling Units. (c)Each Dwelling Unit in a Multi-family Dwelling shall be counted as one (1) Dwelling Unit. (d)Each Primary/Secondary Structure or Structures situated on the same Lot shall be counted as two (2) Dwelling Units. (e)Each guest bedroom within a Bed and Breakfast shall be counted one-thirdone-third (1/3) of a Dwelling Unit. (f)Each Temporally Divided Dwelling shall be counted as one (1) Dwelling Unit. (g)Vacation Club shall be counted as one (1) Dwelling Unit. (h)Group Home shall be counted as one (1) Dwelling Unit. (i)Accommodation Units in a particular Hotel, Motel and Lodge Use shall be counted as the greater of (X) one-thirdone-third (1/3) Dwelling Unit for each Accommodation Unit within such Use (any resulting fractional number of Dwelling Units shall be rounded up or rounded down, as applicable, to the next whole number); or (Y) in accordance with the following calculation: (i) The aggregate Gross Square Footage of all of the Accommodation Units within the applicable Hotel, Motel and Lodge Use, but specifically excluding hallways, lobby and reception areas, stairwells, elevator areas, landings and entranceways, mechanical areas, public restrooms, permanently designated corridors, public lobbies, common mall areas and all other areas exterior to the individual lodging rooms (the “Lodging Square Footage”), shall be measured and calculated. (ii)The Lodging Square Footage shall be divided by 1,800 square feet, and the result of such calculation shall be the number of Dwelling Units attributable to such Hotel, Motel and Lodge Use. Any resulting fractional number of Dwelling Units shall be rounded up or rounded down, as applicable, to the next 0% ATTACHMENT B whole number. [In example, the Lodging Square Footage of a Hotel, Motel and Lodge Use having 50 Accommodation Units each measuring 650 square feet of Gross Square Footage and 50 Accommodation Units each measuring 850 square feet of Gross Square Footage is 75,000 square feet of Gross Square Footage ((50 X 650) + (50 X 850) = 75,000). Such Hotel, Motel and Lodge Use shall be counted as 42 Dwelling Units (75,000 / 1,800 = 41.67 (rounded to 42)).] (j)Each Community Housing Unit shall be counted as one (1) Dwelling Unit. (k)Use of a Building (or applicable portion thereof) for Short Term Rental(s) will not affect the Dwelling Unit calculation. 9.The President of the Design Review Board shall submit a Dwelling Unit and Commercial Space report to the Town along with its certificate of Design Review Board approval for each development proposal approved by the Design Review Board. This report shall be a detailed statement by Planning Area of the number of Dwelling Units and amount of Gross Square Footage of Commercial Space within The Village (at Avon) to ensure that the total permitted density for The Village (at Avon) PUD is not exceeded. 10.Commercial Space is any Building which is intended to be used, rented or leased for a Commercial Use, except as expressly excepted in Sections B.10(a) and B.10(b) below. (a)The following Uses shall not be considered Commercial Space: (i)Lodging Uses, including without limitation, Bed and Breakfast, Hotel, Motel and Lodge, Accommodation Units, Extended Stay Hotel, Temporally Divided Dwelling and Vacation Club; (ii)Residential Uses; (iii)Group Home; (iv)Short term rentalsTerm Rental(s); (v)Employee housing; and (vi)Uses which the Director determines to be similar. (b)For purposes of calculating the total amount (in square feet) of Commercial Space permitted pursuant to this PUD Guide, Commercial Space shall be Gross Square Footage that is available for leasing to a tenant, with the following additional qualifications: (i) The following types of facilities operated for public activities shall not constitute Commercial Space: (1) schools, and (2) except to the extent such facilities exceed an aggregate of 200,000 consolidated Gross Square Footage, unless the Town has consented to construction of such excess Gross Square 1650530.6 10 2985509.10 ATTACHMENT B Footage, Religious Facilities, skating arenas, cultural and community centers and facilities, and recreational centers and facilities. (ii)In office Buildings, retail Buildings, Hospital Buildings, long-term care facilities and other medical facilities including, but not limited to clinics, group and congregate care facilities, independent and assisted living facilities and nursing homes, hallways, lobby and reception areas, stairwells, elevator areas, landings and entranceways, mechanical areas, public restrooms, permanently designated corridors, public lobbies, and common mall areas shall not constitute Commercial Space for purposes of calculating the total amount (in square feet) of Commercial Space permitted pursuant to this PUD Guide unless actually leased to an individual tenant. (iii)In Lodging Uses, hallways, lobby and reception areas, stairwells, elevator areas, public restrooms, permanently designated corridors, landings, entranceways, meeting and banquet rooms and facilities, sundries shops, breakfast shops and other shops intended to cater primarily to Lodging Uses guests shall not constitute Commercial Space for purposes of calculating the total amount (in square feet) of Commercial Space permitted pursuant to this PUD Guide, but retail areas intended to cater primarily to non-Lodging Use guests and full-service Restaurants shall constitute Commercial Space for such purposes. (iv)In a Building or Site, for which the primary purpose is a Residential Use, including Community Housing Units, a Child Care Center or a similar Use shall not constitute Commercial Space for purposes of calculating the total amount (in square feet) of Commercial Space permitted pursuant to this PUD Guide. (ivv)In any Building, parking areas and Parking Structures shall not constitute Commercial Space for purposes of calculating the total amount (in square feet) of Commercial Space permitted pursuant to this PUD Guide. C.GENERAL LAND USE DESIGNATIONS.. 1.Designations. The following list identifies Planning Areas within The Village (at Avon) PUD and their respective general land use designations: (a)Planning Area A: Village Center Mixed-Use Projects (b)Planning Area B: Community Facilities (c)Planning Areas C and D: Village Residential Mixed-Use Projects (d)Planning Area E: School (e)Planning Areas F, G, H and I: Regional Commercial Mixed-Use Projects 1650530.6 11 2985509.10 ATTACHMENT B (f)Planning Area J: Regional/Neighborhood Commercial and Residential Mixed Use Projects (g)Planning Area K: Hillside Residential (h)Planning Areas RMF-1-1 and RMF-2-2: Multi-Family Residential (i)Planning Areas OS1 through OS7, inclusive: Natural Open Space (j)Planning Areas P1 through P3, inclusive: Parkland (k)Planning Areas PF-1 through-2 and PF-3, inclusive-3: Public Facilities (l)Planning Areas CH-1 and CH-2: Community Housing Units 2.Permitted Uses. Notwithstanding the generality of the foregoing land use designations, Uses and Use Categories permitted within each Planning Area are set forth in Section D (Development Standards), Section F (Temporary Uses and Structures) and Section I (Supplemental Regulations) of this PUD Guide, and certain of such Uses and Use Categories are defined in Exhibit HI of this PUD Guide. D.DEVELOPMENT STANDARDS WITHIN THE VILLAGE (AT AVON) PUD.. 1.General.. (a)The following Development Standards shall govern development of the referenced Planning Areas. Uses permitted within The Village (at Avon) include all Use Categories and all Uses within each Use Category, together with Accessory Uses, Primary Structures and Accessory Structures relating to such Uses. Within each individual Planning Area, such Uses are designated as Uses by Right, Special Review Uses or Prohibited Uses. A Use by Right within a particular Planning Area includes all Uses within the specified Use Category except to the extent specifically designated as a Special Review Use or a Prohibited Use. (b)Where particular Uses within a Use Category are listed as Uses by Right within a particular Planning Area and the Use Category also is listed as a Use by Right, such particularly listed Uses shall be construed as examples and clarifications of the Use Category and not as limitations on other Uses within the Use Category being developed as Uses by Right. Where particular Uses within a Use Category are listed as Uses by Right with a particular Planning Area but the Use Category is not listed as a Use by Right, then such particularly listed Uses shall be construed as Uses by Right that are exceptions to the Use Category and the remainder of Uses with the Use Category shall be interpreted to not be Use(s) by Right. (c)Temporary Uses may be permitted in The Village (at Avon) in accordance with the Development Code, even though such Uses otherwise may be within a Use Category that is not permitted within the applicable Planning Area. 1650530.6 12 2985509.10 ATTACHMENT B (d)Uses not identified as a Use by Right, Special Review Use, Temporary Use or Interim Use shall be a Prohibited Use unless determined by the Director that the proposed use is substantially similar to a Use by Right, Special Review Use, Temporary Use, or Interim Use. The listing of Prohibited Uses for each Planning Area is not exhaustive and shall not limit the interpretation of Uses by Right, Special Review Uses, Temporary Uses or Interim Uses stated in the preceding sentence. (e)In all Planning Areas, Architectural Projections may project ten (10) feet or less beyond the applicable Building Envelope with the prior written consent of the Design Review Board. Architectural Projections may project greater than ten (10) feet beyond the applicable Building Envelope with the prior written consent of the Design Review Board and the Town. (f)In all Planning Areas, the Development Standards set forth in this PUD Guide may be increased or decreased (a “Development Bonus”) following review and approval by the (i) applicable Landowner; (ii) Design Review Board; (iii) Master Landowner; and (iv) Town through the development bonus process set forth in Section 7.16.170 of the Municipal Code. Upon approval by the Town, the Landowner, Design Review Board and Master Landowner shall review for approval or disapproval of any Development Bonus. Any Development Bonus approved in all respects by the Landowner, Design Review Board, Master Landowner and Town shall be Recorded against the applicable portion of the Property and, upon such approval and Recording, shall automatically constitute an administrative amendment to this PUD Guide. 2.Planning Area A - Village Center Mixed Use Project.. (a)Uses by Right: Except as specifically identified as Special Review Uses in Section D.2(b) below or specifically prohibited in Section D.2(c) below, the following Primary Uses and Accessory Uses: (i)Commercial Uses; provided, however, no single retail business shall occupy more than 60,000 of consolidated Gross Square Footage. (ii)Animal Boarding (excluding outdoor Animal Boarding) as an Accessory Use to another Commercial Use only, and subject to review and written approval by the Design Review Board authorizing such Use. (iii)Kennels (excluding outdoor Kennels) as an Accessory Use to another Commercial Use only, and subject to review and written approval by the Design Review Board authorizing such Use. (iv)Convenience Retail (without fuel). (v)Restaurants (without drive-through window service). (vi)Financial institutions (without drive-through window service). 1650530.6 13 2985509.10 ATTACHMENT B (vii)Residential Uses. (viii)Short Term Rental(s). (viiiix)Mixed Use Projects; provided, however, (a) no Uses specifically prohibited in Section D.2(c) below shall be included in such Mixed Use Project, and (b) no Uses specifically identified as Special Review Uses in Section D.2(b) below shall be included except pursuant to the review and approval processes set forth in Section E below. (ixx)Cabled Telecommunications Equipment, Cabled Telecommunications Facilities and Cabled Telecommunications Services, each of the foregoing being subject to review and written approval by the Design Review Board authorizing such Use. (xxi) Wireless Telecommunications Equipment (excluding antenna towers), Wireless Telecommunications Facilities (excluding antenna towers) and Wireless Telecommunications Services, each of the foregoing being subject to review and written approval by the Design Review Board authorizing such Use.. (xixii)Dry Utilities. (xiixiii)Infrastructure. (xiiixiv)Indoor recreation and/or entertainment facilities. (xivxv)Outdoor recreation and/or entertainment facilities that do not include the use of amplified music. (xvxvi)Parks and Open Space. (xvixvii)Commercial Parking, Private Parking, Public Parking and public and private transportation and transit facilities, including but not limited to, Parking Structures, Bus Stops, Bus Shelters, rail stations, tramways, gondolas and lifts. (xviixviii) Outdoor Storage of merchandise for sale and only as an Accessory Use to a retail Use. (xviiixix)Accessory Uses and Structures customarily appurtenant to Uses by Right. (xixxx)Agricultural Use (as an Interim Use only). (xxxxi)Rodeo and ancillary carnival (as an Interim Use only). (xxixxii)Recycling Facility (as an Interim Use only). 1650530.6 14 2985509.10 ATTACHMENT B (xxiixxiii)Snow storage (as an Interim Use only). (xxiiixxiv)Mobile Home office/storage Use and community garden (as an Interim Use only). (xxivxxv)Driving course and accessory hospitality services related to automobile demonstrations, promotions and sales, not to exceed 10 days in the aggregate in a calendar year (as an Interim Use), provided that such Use exceeding 10 days in the aggregate in a calendar year shall be a Temporary Use. (xxvxxvi) Additional Uses which the Director determines to be similar to uses by right. (b)Special Review Uses: The following Uses shall be permitted pursuant to the review and approval processes set forth in Section E below: (i)Single retail businesses occupying more than 60,000 of consolidated Gross Square Footage. (ii)Educational facilities, including but not limited to, public and private schools, universities and colleges. (iii)Automobile Repair Shop (Minor). (iv)Outdoor entertainment facilities that include the use of amplified music. (v)Hospital (vi) Heliport, only as an Accessory Use to a Hospital or other medical facility, including but not limited to a clinic. (vii)Hotel Uses (including without limitation, hotel Uses comprising a portion of a Mixed Use Project) which exceed 80 feet in Building Height. (viii)Car wash. (ix)Drive-in Uses. (x)Religious Facility. (xi)Service Station (for the sale of only electric form of fuel for motorized vehicles). (xii)Restaurants (with drive-through window service). (xiii)Financial institutions (with drive-through window service). 1650530.6 15 2985509.10 ATTACHMENT B (xiv)Recycling Facilities (except as permitted in Section D.2(a) above). (xv)Rock and gravel crushing operations related to rock and gravel materials excavated within The Village (at Avon) PUD. (xvi)Wireless Telecommunications Equipment (antenna towers only) and Wireless Telecommunications Facilities (antenna towers only), each of the foregoing being subject to review and written approval by the Design Review Board authorizing such Use. (xvii)Pursuant to Section D.2(d)(ii)(1), for portions of Planning Area A located less than 250 feet from the southerly boundary of Planning Area A, Building Height greater than 55 feet. (c)Prohibited Uses: (i)Animal Boarding (outdoor). (ii)Automobile Repair Shop (Major). (iii)Family Child Care Home. (iv)Group Home. (v)Industrial Uses. (vi)Kennels (outdoor). (vii)Mobile Homes. (viii)Medical Marijuana Businesses. (ix)Nude Entertainment Establishments. (x)Outdoor Storage (except as expressly allowed as a Use by Right in Section D.2(a)). (xi)Recycling Processing Facility. (xii)Service Station (except as specifically identified as a Special Review Use in Section D.2(b)). (xiii)Tattoo parlor, body piercing. (d)Building Envelope Requirements: (i)Minimum Building Setbacks: 1650530.6 16 2985509.10 ATTACHMENT B (1)Southerly and Westerly boundaries of Planning Area A: 20 feet. (2)All others: None, except as may be necessary to accommodate utilities, drainage, access, fire and building code regulations and the flood plain of live streams. (ii)Maximum Building Height: (1)Portions of Planning Area A located less than 250 feet from the southerly boundary of Planning Area A: 55 feet, provided that a maximum Building Height of 60 feet shall be permitted as a Special Review Use. (2)Portions of Planning Area A located 250 or more feet from the southerly boundary of Planning Area A: 80 feet, provided that Residential Uses and hotel Uses (including without limitation,Residential Uses and hotel Uses comprising a portion of a Mixed Use Project) exceeding 80 feet shall be permitted up to a maximum Building Height of 110 feet as a Special Review Use as specifically identified in Section D.2(b). (iii)Maximum Site Coverage: (1)Portions of Planning Area A located less than 250 feet from the southerly boundary of Planning Area A: 80% (2)Portions of Planning Area A located 250 or more feet from the southerly boundary of Planning Area A: 100% (iv)Minimum Lot Area: Not applicable. (e)Residential Density Maximum: 25 Dwelling Units per acre. (f)Parking Requirements: As set forth in the Parking Regulations. (g)Supplemental Regulations: All development is further subject to the supplemental regulations set forth in Section I below. (h)Street Requirements: Streets are subject to the standards set forth in Exhibit F of this PUD Guide. 1650530.6 17 2985509.10 ATTACHMENT B 3.Planning Area B - Community Facilities.. (a)Uses by Right: Except as specifically identified as Special Review Uses in Section D.3(b) below or specifically prohibited in Section D.3(c) below, the following Primary Uses and Accessory Uses: (i)Parks and Open Space. (ii)Community Facilities and related amenities, including without limitation, accessory Commercial Uses, including food and beverage concessions, as may be mutually approved by the Town and the Design Review Board. (iii)Agricultural Use (as an Interim Use only). (iv)Infrastructure. (v)Dry Utilities. (vi)Snow storage (as an Interim Use only). (vii)Water storage and water resource management facilities. (b)Special Review Uses: The following Uses shall be permitted pursuant to the review and approval processes set forth in Section E below: (i)Outdoor entertainment facilities that include the use of amplified music. (c)Prohibited Uses: (i) Commercial Uses. (ii)Residential Uses. (iii)Industrial Uses. (iv)Mixed Use Projects (except as specifically included as a Use By Right in Section D.3(a) above). (d)Building Envelope Requirements: (i)Minimum Building Setbacks: 20 feet from the adjacent road right-of-way. 20 feet from property line abutting Planning Area A. None from property line abutting Main Street. There shall be no other setback requirements except as may be necessary to accommodate utilities, drainage, access, fire and building code regulations and flood plain of live streams. (ii)Maximum Building Height: 60 feet. 1650530.6 18 2985509.10 ATTACHMENT B (iii)Maximum Site Coverage: 20% (iv)Minimum Lot Area: Not applicable. (e)Parking Requirements: As set forth in the Parking Regulations, and as provided therein, parking requirements may be satisfied by provision of off-site parking, including without limitation, off-site shared parking, in accordance with the Parking Regulations. (f)Supplemental Regulations: All development is further subject to the supplemental regulations set forth in Section I below. (g)Street Requirements: Streets are subject to the standards set forth in Exhibit F of this PUD Guide. 4.Planning Areas C and D - Village Residential Mixed Use Projects.. (a)Uses by Right: Except as specifically identified as Special Review Uses in Section D.4(b) below or specifically prohibited in Section D.4(c) below, the following Primary Uses and Accessory Uses: (i)Residential Uses. (ii)Short Term Rental(s). (iiiii)Commercial Uses that have frontage on Main Street. (iiiiv)Agricultural Use (as an Interim Use only). (ivv)Community Facilities. (vvi)Vacation Club and Temporally Divided Dwellings. (vivii)Mixed Use Projects (provided, however, no Uses specifically prohibited in Section D.4(c) below shall be included in such Mixed Use Project, and no Uses specifically identified as Special Review Uses in Section D.4(b) below shall be included except pursuant to the review and approval processes set forth in Section E below). (viiviii)Commercial Parking, Private Parking, Public Parking, and public and private transportation and transit facilities, including but not limited to, Parking Structures, Bus Stops, Bus Shelters, rail stations, tramways, gondolas and lifts. (viiiix)Cabled Telecommunications Equipment, Cabled Television Facilities and Cabled Telecommunications Services, each of the foregoing being subject to review and written approval by the Design Review Board authorizing such Use. 1650530.6 19 2985509.10 ATTACHMENT B (ixx) Wireless Telecommunications Equipment (excluding antenna towers), Wireless Telecommunications Facilities (excluding antenna towers) and Wireless Telecommunications Services, each of the foregoing being subject to review and written approval by the Design Review Board authorizing such Use. (xxi)Infrastructure. (xixii)Dry Utilities. (xiixiii)Indoor recreation and/or entertainment facilities. (xiiixiv) Outdoor recreation and/or entertainment facilities that do not include the use of amplified music. (xivxv)Parks and Open Space. (xvxvi)Minor Home Occupations. (xvixvii)Planning Area C Only: (1)Pedestrian bridges. (2)Hotel, Motel and Lodge. (3)Bed and Breakfast. (xvii)Planning Area D Only: (1)Recycling Facility and accessory trash facility (as an Interim Use only). (xviii)Accessory Uses and Structures customarily appurtenant to the foregoing Uses by Right. (xix)Additional Uses which the Director determines to be similar to the foregoing Uses by Right. (b)Special Review Uses: The following Uses shall be permitted pursuant to the review and approval processes set forth in Section E below: (i)In Planning Area D having frontage on Main Street only: (1)Hotel, Motel and Lodge. (2)Bed and Breakfast. (3)Educational facilities, including but not limited to, public and private schools, universities, colleges and Child Care Centers. 1650530.6 20 2985509.10 ATTACHMENT B (4)Hospitals. (5)Heliport, only as an Accessory Use to a Hospital or other medical facility, including but not limited to a clinic. (6)Religious Facilities, museums, libraries and public buildings. (7)Outdoor entertainment facilities that include the use of amplified music (subject to the review and written approval of the Design Review Board authorizing such Use). (ii)Rock and gravel crushing operations related to rock and gravel materials excavated within The Village (at Avon) PUD, each of the foregoing being subject to review and written approval by the Design Review Board authorizing such Use. (iii)Wireless Telecommunications Equipment (antenna towers only) and Wireless Telecommunications Facilities (antenna towers only), each of the foregoing being subject to review and written approval by the Design Review Board authorizing such Use. (iv)Pursuant to Section D.4(d)(ii)(2), Building Height greater than 60 feet. (c)Prohibited Uses: (i)Automobile Repair Shops (Major). (ii)Animal Boarding (outdoor). (iii)Industrial Uses. (iv)Kennels (outdoor). (v)Mobile Homes. (vi)Medical Marijuana Businesses. (vii)Nude Entertainment Establishments. (viii)Outdoor Storage, except as specifically identified as a Special Review Use in Section D.4(b). (ix)Recycling Processing Center. (x)Service Stations. 1650530.6 21 2985509.10 ATTACHMENT B (xi)Tattoo parlor, body piercing. (d)Building Envelope Requirements: (i)Minimum Building Setbacks: (1)Front:25 feet (2)Side:None (3)Rear:10 feet (4)Southerly boundary of Planning Area D: 20 feet (ii)Maximum Building Height: 48 feet. (1)60 feet, and a maximum of five Stories (except as otherwise provided pursuant to Section D.4(b)(iv)). (2)For any Building (or portion of a Building) located 250 or more feet north of the southerly Property boundary: 74 feet and a maximum of six Stories as a Special Review Use pursuant to Section D.4(b)(iv). (iii)Minimum Landscaped Area: 20% (iv)Minimum Lot Area: Not applicable. (e)Residential Density Maximum: 1840 Dwelling Units per acre. (f)Parking Requirements: As set forth in the Parking Regulations. (g)Supplemental Regulations: All development is further subject to the supplemental regulations set forth in Section I below. (h)Street Requirements: Streets are subject to the standards set forth in Exhibit F of this PUD Guide. 1650530.6 22 2985509.10 ATTACHMENT B 5.Planning Area E – School.. (a)Purpose: To mitigate the impact of the Residential Uses proposed for development within The Village (at Avon) by providing land for school needs generated by the Residential Uses proposed for development within The Village (at Avon) directly for the benefit of the children of the Town as reasonably necessary to serve The Village (at Avon) and future residents thereof. (b)Uses by Right: The following Primary Uses and Accessory Uses: (i)Educational uses, limited to use as a state authorized or state accredited educational facility serving grades K-12-12 (or any portion of such grades). (ii)Agricultural Use (as an Interim Use only). (iii)Subject to prior written approval from the Design Review Board authorizing such Uses, the following education-related Uses: (1)Child Care FacilitiesCenter. (2)Pre-school facilities. (3)Community/adult educational facilities. (4)Cultural and/or art classes. (5)Recreational facilities. (6)Museums. (iv)Infrastructure. (v)Dry Utilities. (vi)Such other cultural/community service oriented Uses and facilities as the Design Review Board may authorize in writing. (c)Building Envelope Requirements: (i)Minimum Building Setbacks: (1)Front: 25 feet (2)Side: 7.5 feet (3)Rear: 10 feet 1650530.6 23 2985509.10 ATTACHMENT B (ii)Maximum Building Height: 35 feet. (iii)Minimum Lot Area: Not applicable. (d)Parking Requirements: As set forth in the Parking Regulations. (e)Supplemental Regulations: All development is further subject to the supplemental regulations set forth in Section I below. (f)Street Requirements: Streets are subject to the standards set forth in Exhibit F of this PUD Guide. 6.Planning Areas F, G, H and I – Regional Commercial Mixed Use Projects.. (a)Uses by Right: Except as specifically identified as Special Review Uses in Section D.6(b) below or specifically prohibited in Section D.6(c) below, the following Primary Uses and Accessory Uses: (i)Commercial Uses, provided, however, no single retail business on Planning Area F shall occupy more than 60,000 of consolidated Gross Square Footage. (ii)Residential Uses. (iii)Mixed Use Projects (provided, however, no Uses specifically prohibited in Section D.6(c) below shall be included in such Mixed Use Project, and no Uses specifically identified as Special Review Uses in Section D.6(b) below shall be included except pursuant to the review and approval processes set forth in Section E below). (iv)Agricultural Uses (as an Interim Use only). (v)Community Facilities. (vi)Cabled Telecommunications Equipment, Cabled Television Facilities and Cabled Telecommunications Services, each of the foregoing being subject to review and written approval of such Use by the Design Review Board. (vii)Wireless Telecommunications Equipment (excluding antenna towers), Wireless Telecommunications Facilities (excluding antenna towers) and Wireless Telecommunications Services, each of the foregoing being subject to review and written approval by the Design Review Board authorizing such Use. (viii)Infrastructure. (ix)Dry Utilities. 1650530.6 24 2985509.10 ATTACHMENT B (x)Private and public transportation and transit, including without limitation, Bus Stops, Bus Shelters, rail stations, tramways, gondolas and lifts. (xi)Religious Facilities, museums, libraries and public buildings. (xii)Indoor recreation and/or entertainment facilities that do not include the use of amplified music. (xiii)Outdoor entertainment facilities that include the use of amplified music (subject to review and written approval of such Use by the Design Review Board). (xiv)Outdoor recreation and/or entertainment facilities that do not include the use of amplified music. (xv)Parks and Open Space. (xvi)Child Care Center. (xvii)Animal Boarding (excluding outdoor Animal Boarding), subject to review and written approval by the Design Review Board authorizing such Use. (xviii)Kennels (excluding outdoor Kennels), subject to review and written approval by the Design Review Board authorizing such Use. (xix)Construction staging (as an Interim Use only). (xx)Planning Areas F and I Only: (1) Recycling Facility. (xxi)Planning Area I Only: (1)Pedestrian and vehicular bridges, bridge abutments and improvements reasonably related thereto. (2)Automobile Repair Shops (Major and Minor). (3)Light Industrial Uses. (xxii)Additional Uses which the Director determines to be similar to the foregoing Uses by Right. (xxiii)Accessory Uses and Structures customarily appurtenant to the foregoing Uses by Right. (b)Special Review Uses: The following Uses shall be permitted pursuant to the review and approval processes set forth in Section E below: 1650530.6 25 2985509.10 ATTACHMENT B (i)Single retail businesses onin Planning Area F occupying more than 60,000 of consolidated Gross Square Footage. (ii)Educational facilities including, but not limited to public and private schools, universities, and colleges. (iii)Service Station. (iv)Animal Boarding (outdoor), subject to review and written approval by the Design Review Board authorizing such Use. (v)Kennels (outdoor), subject to review and written approval by the Design Review Board authorizing such Use. (vi) Rock and gravel crushing operations related to rock and gravel materials excavated within The Village (at Avon) PUD. (vii)Heliport, only as an Accessory Use to a Hospital or other medical facility, including but not limited to a clinic (subject to review and written approval by the Design Review Board authorizing such Use). (viii)Wireless Telecommunications Equipment (antenna towers only) and Wireless Telecommunications Facilities (antenna towers only), each of the foregoing being subject to review and written approval by the Design Review Board authorizing such Use. (ix)Planning Areas F, G and H Only: (1)Animal Boarding (outdoor). (2)Kennels (outdoor). (3)Hospitals. (x)Planning Area I Only: (1)Hotel Uses (including without limitation, hotel Uses comprising a portion of a Mixed Use Project) which exceed 55 feet in Building Height. (c)Prohibited Uses: (i)Heavy Industrial Uses. (ii)Medical Marijuana Businesses. (iii)Nude Entertainment Establishments. 1650530.6 26 2985509.10 ATTACHMENT B (iv)Planning Areas F, G and H Only: (1)Automobile Repair Shops (Major). (2)Family Child Care Home. (3)Group Home. (4)Mobile Homes. (5) Recycling Processing Center. (6)Tattoo parlor, body piercing. (d)Building Envelope Requirements: (i)Minimum Building Setbacks: (1)Commercial Uses: a.Front:25 feet b.Side:None c.Rear:10 feet d.Abutting Interstate 70 or railroad right-of-wayright-of-way: 20 feet (2)Industrial Uses: a.Front:25 feet b.Side:7.5 feet c.Rear:10 feet d.Abutting Interstate 70 or railroad right-of-way: 20 feet (3)Residential Uses: a.Front:25 feet b.Side:7.5 feet c.Rear:10 feet 1650530.6 27 2985509.10 ATTACHMENT B d.Abutting Interstate 70 or railroad right-of-wayright-of-way: 20 feet e.A Building having a Building Height exceeding 48 feet on Planning Area F only: (i) abutting existing Post Boulevard: 40 feet; and (ii) abutting current East Beaver Creek Boulevard (future Main Street): 100 feet (4)Vertically-integrated Mixed Use Projects: a.Front:25 feet b.Side:None c.Rear:10 feet d.Abutting Interstate 70 or railroad right-of-wayright-of-way: 20 feet e.A Building having a Building Height exceeding 48 feet on Planning Area F only: (i) abutting existing Post Boulevard: 40 feet; and (ii) abutting current East Beaver Creek Boulevard (future Main Street): 100 feet (ii)Maximum Building Height: (1)Commercial Uses: a.Hotel Uses (including without limitation, hotel Uses comprising a portion of a Mixed Use Project) on Planning Area I only: 55 feet, provided that such Uses may be permitted up to a maximum Building Height of 135 feet as specifically identified as a Special Review Use in Section D.6(b). b.Hospitals onin Planning Area I only: 80 feet. c.All other Commercial Uses: 48 feet. (2)Industrial Uses: 48 feet. (3)Residential Uses: a.Single-familySingle-family Dwellings and Duplex Dwellings: 35 feet. b.Multi-family Dwellings on Planning Areas G, H and I: 48 feet. 1650530.6 28 2985509.10 ATTACHMENT B c.Multi-family Dwellings on Planning Area F only: 58 feet, and not to exceed four Stories. (4)Vertically-integrated Mixed Use Projects (except as set forth in Section D.6(d)(ii)(1) with respect to hotels comprising a portion of a Mixed Use Project): a.On Planning Areas G, H and I: 48 feet. b.On Planning Area F only: 58 feet, and not to exceed four Stories. (iii)Minimum Landscaped Area: 20%. (iv)Minimum Lot Area: Not applicable. (v)Maximum Site Coverage: 50% on Planning Area F only (e)Residential Density Maximum: (i)Planning Area F: 22 Dwelling Units per acre. (ii)Planning Areas G and H: 18 Dwelling Units per acre. (iii)Planning Area I:Subject to this Section D.6(e)(iii),15 Dwelling Units per acre, subject to the following: Notwithstanding anything to the contrary set forth in Title 15 or any other provision of the Municipal Code cul-de-sacs may exceed 1,000 feet in length and service not more than 280 Dwelling Units within Planning Area I, and that the portion of a cul-de-saccul-de-sac that is in excess of 1,000 feet shall not service Commercial Uses. With respect to any cul-de-saccul-de-sac located both within and outside of Planning Area I, (i) no Dwelling Units served by the portion of such cul-de-sac located outside of Planning Area I shall be counted toward the foregoing 280 Dwelling Unit limitation; and (ii) the portion of any such cul-de-sac located within Planning Area I shall be deemed separate and distinct from, and not included with, any portion of the same cul-de-sac located outside of Planning Area I for purposes of calculating the Dwelling Units counted toward the foregoing 280 Dwelling Unit limitation. (f)Parking Requirements: As set forth in the Parking Regulations. (g)Supplemental Regulations: All development is further subject to the supplemental regulations set forth in Section I below. (h)Street Requirements: Subject to Section D.6(e)(iii), streets are subject to the standards set forth in Exhibit F of this PUD Guide. 1650530.6 29 2985509.10 ATTACHMENT B 7.Planning Area J – Regional/Neighborhood Commercial and Residential Mixed Use Projects.. (a)Uses by Right: Except as specifically identified as Special Review Uses in Section D.7(b) below or specifically prohibited in Section D.7(c) below, the following Primary Uses and Accessory Uses: (i)Residential Uses. (ii)Short Term Rental(s). (iiiii)Commercial Uses. (iiiiv)Mixed Used Projects; provided, however, (a) no Uses specifically prohibited in Section D.7(c) below shall be included in such Mixed Use Project, and (b) no Uses specifically identified as Special Review Uses in Section D.7(b) below shall be included except pursuant to the review and approval processes set forth in Section E below. (ivv)Automobile Repair Shops (Minor). (vvi)Community Facilities. (vivii)Agricultural Use (as an Interim Use only). (viiviii)Cabled Telecommunications Equipment, Cabled Television Facilities and Cabled Telecommunications Services, each of the foregoing being subject to review and written approval by the Design Review Board authorizing such Use. (viiiix) Wireless Telecommunications Equipment (excluding antenna towers), Wireless Telecommunications Facilities (excluding antenna towers) and Wireless Telecommunications Services, each of the foregoing being subject to review and written approval by the Design Review Board authorizing such Use. (ixx)Infrastructure. (xxi)Dry Utilities. (xixii)Bus Stops, Bus Shelters, tramways, gondolas and lifts. (xiixiii)Recreational facilities. (xiiixiv)Parks and Open Space. (xivxv)Additional uses which the Director determines to be similar to Uses by right. 1650530.6 30 2985509.10 ATTACHMENT B (xvxvi)Accessory Uses and Structures customarily appurtenant to Uses by Right. (b)Special Review Uses: The following Uses shall be permitted pursuant to the review and approval processes set forth in Section E below: (i)Child Care Center. (ii)Religious Facilities, museums, libraries and public buildings. (iii)Rock and gravel crushing operations related to rock and gravel materials excavated within The Village (at Avon) PUD. (iv)Wireless Telecommunications Equipment (antenna towers only) and Wireless Telecommunications Facilities (antenna towers only), each of the foregoing being subject to review and written approval by the Design Review Board authorizing such Use. (c)Prohibited Uses: (i)Automobile Repair Shops (Major). (ii)Medical Marijuana Businesses. (iii)Nude Entertainment Establishments. (iv)Tattoo parlor, body piercing. (d)Building Envelope Requirements: (i)Building Setback Requirements: (1)Residential Uses: a.Front:2010 feet (except as provided below). b.Side:10 feet (except as provided below). c.Rear:10 feet (except as provided below). (2)Commercial Uses: a.Front:2010 feet (except as provided below). b.Side:None (except as provided below). c.Rear:10 feet (except as provided below). 1650530.6 31 2985509.10 ATTACHMENT B (3)Notwithstanding the foregoing, the minimum Building Setback abutting the Interstate 70 right-of-way shall be 20 feet. (ii)Maximum Building Height: (1)Commercial (excepting Hotel, Motel and Lodge Uses) and Light Industrial Uses: 48 feet. (2)Residential Uses: a.Single-family Dwellings and Duplex Dwellings: 35 feet. b.Multi-family Dwellings: 48 feet. (32)Vertically-integratedResidential Uses and Vertically-integrated Mixed Use Projects:4860 feet, and a maximum of five Stories. (43)Hotel, Motel and Lodge Uses: 55 feet. (iii)Minimum Landscaped Area: 20% (iv)Minimum Lot Area: Not applicable. (e)Residential Density Maximum: 18 Dwelling Units per acre. (f)Parking Requirements: As set forth in the Parking Regulations. (g)Supplemental Regulations: All development is further subject to the supplemental regulations set forth in Section I below. (h)Street Requirements: Streets are subject to the standards set forth in Exhibit F of this PUD Guide; provided, however, (i) Section A.4(g)(ii) of Exhibit F of this PUD Guide shall not apply to Planning Area J and,and notwithstanding anything to the contrary set forth in Title 15 or any other provision of the Municipal Code,with respect to all or any portion of any cul-de-saccul-de-sac located within Planning Area J, there is no restriction on the length of such cul-de-sac, service to Commercial Uses by the cul-de-saccul-de-sac or the number of Dwelling Units that may be served by the cul-de-saccul-de-sac; and (ii) notwithstanding any contrary provision of Section A.1(viii) of Exhibit F of this PUD Guide, if Road E (as conceptually illustrated in Exhibit F of this PUD Guide) does not connect at the roundabout at Post Boulevard and Swift Gulch Road and instead connects directly to future Swift Gulch Road (conceptual) east of such roundabout, the street typ e (i.e., rural local road, urban local road, etc.) of the portion of future Swift Gulch Road located between the roundabout and the connection point to Road E will be determined in accordance with a traffic study produced pursuant to the requirements of the Development Code.. 1650530.6 32 2985509.10 ATTACHMENT B 8.Planning Area K - Hillside Residential.. (a)Uses by Right: Except as specifically prohibited in Section D.8(b) below, the following Primary Uses and Accessory Uses: (i)Single-Family Dwelling. (ii)Duplex Dwelling. (iii)Community Housing Units. (iiiiv)Primary/Secondary Structure. (ivv)Agricultural Use (as an Interim Use only). (vvi)Cabled Telecommunications Equipment, Cabled Television Facilities and Cabled Telecommunications Services, each of the foregoing being subject to review and written approval by the Design Review Board authorizing such Use. (vivii) Wireless Telecommunications Equipment (excluding antenna towers), Wireless Telecommunications Facilities (excluding antenna towers) and Wireless Telecommunications Services, each of the foregoing being subject to review and written approval by the Design Review Board authorizing such Use. (viiviii)Infrastructure. (viiiix)Dry Utilities. (ixx)Recreational facilities. (xxi)Parks and Open Space. (xixii)Religious Facilities, including without limitation, cemeteries. (xiixiii)Conceptual Lot 1 (as depicted on the PUD Master Plan) Only: Homeowner association facilities including, but not limited to, a caretaker unit (as a Secondary Structure), clubhouse, recreational facilities and other similar facilities and amenities. (xiiixiv)Accessory Uses and Structures customarily appurtenant to Uses by Right. (xivxv)Additional uses which the Director determines to be similar to Uses by Right. 1650530.6 33 2985509.10 ATTACHMENT B (b)Special Review Uses: (i)Rock and gravel crushing operations related to rock and gravel materials excavated within The Village (at Avon) PUD. (ii)Wireless Telecommunications Equipment (antenna towers only) and Wireless Telecommunications Facilities (antenna towers only), each of the foregoing being subject to review and written approval by the Design Review Board authorizing such Use. (c)Prohibited Uses: (i)Commercial Uses (except as specifically included in Sections D.8(a) or D.8(b)). (ii)Industrial Uses. (d)Building Envelope Requirements: The layout, location, size and number of Lots within Planning Area K as depicted on the PUD Master Plan are conceptual, non-binding and provided only for illustrative purposes only. The precise layout, location, size and number of Lots and the precise location of the Building Envelope for each Lot within Planning Area K will be as established by and reflected in the Final Plat creating the Lot, and shall be based on various site specific features of the Lot such as the topography, grade, natural vegetation and similar matters, but shall generally comply with the following requirements unless such compliance is determined to be impractical or unreasonable. (i)Minimum Building Setbacks: (1)Front:25 feet (except as set forth below). (2)Side:20 feet (except as set forth below). (3)Rear:20 feet (except as set forth below). (4)For conceptual Lot 1 (as depicted on the PUD Master Plan): 20 feet from the property line, except as otherwise required to accommodate utilities, drainage, access, fire and building code regulations, and the flood plain of live streams. (ii)Maximum Building Height: 35 feet. (iii)Maximum Site Coverage: (1)Single-Family Residential Uses: the lesser of (a) 1 acre of the applicable Lot; or (b) 80% of the applicable Lot, provided that the final Site coverage shall be the Building Envelope for each Lot on the Final Plat 1650530.6 34 2985509.10 ATTACHMENT B creating the applicable Lot, provided further that, in any event, such Building Envelope shall comply with the requirements of this Section. (2)All other Uses: the final Site coverage shall be the Building Envelope for each Lot on the Final Plat creating the applicable Lot, provided further that, in any event, such Building Envelope shall comply with the requirements of this Section. (iv)Minimum Lot Area: 1 acre. (e)Residential Density Maximum:Subject to this Section D.8(e), cul-de-sacsNotwithstanding anything to the contrary set forth in Title 15 or any other provision of the Municipal Code, cul-de-sacs may exceed 1,000 feet in length and service not more than 280 Dwelling Units in the aggregate within Planning Area K and Planning Area RMF-1-1; provided, however, the portion of a cul-de-saccul-de-sac that is in excess of 1,000 feet shall not service Commercial Uses except those Commercial Uses specifically included in Sections D.8(a) or D.8(b). With respect to any cul-de-saccul-de-sac portions of which are located both within and outside of Planning Area K, (i) no Dwelling Units served by the portions of such cul-de-saccul-de-sac located outside of Planning Area K, excepting any Dwelling Units located within Planning Area RMF-1-1 and served by such cul-de-sac, shall be counted toward the foregoing 280 Dwelling Unit limitation; and (ii) the portion of any such cul-de-sac located within Planning Area K shall be deemed separate and distinct from, and not included with, any portion of the same cul-de-saccul-de-sac located outside of Planning Area K, excepting any portion of such cul-de-saccul-de-sac located within Planning Area RMF-1-1, for purposes of calculating the Dwelling Units counted toward the foregoing 280-Dwelling Unit limitation. (f)Parking Requirements: As set forth in the Parking Regulations. (g)Supplemental Regulations: All development is further subject to the supplemental regulations set forth in Section I below. (h)Street Requirements: Subject to Section D.8(e) , streets are subject to the standards set forth in Exhibit F of this PUD Guide. 9.Planning Areas RMF 1 and RMF 2 - Residential Multi-Family.. (a)Uses By Right: The following Primary Uses and Accessory Uses: (i)Residential Uses. (ii)Community Facilities. (iii)Preschool, nursery school,in-homein-home child care and Child Care Center as an Accessory Use to a Residential Use. 1650530.6 35 2985509.10 ATTACHMENT B (iv)Agricultural Use (as an Interim Use only). (v)Bed and Breakfast, Vacation Club,and Temporally Divided Dwellings and short-term rentals. (vi)Infrastructure. (vii)Dry Utilities. (viii)Cabled Telecommunications Equipment, Cabled Television Facilities and Cabled Telecommunications Service, each of the foregoing being subject to review and written approval by the Design Review Board authorizing such Use. (ix)Wireless Telecommunications Equipment (excluding antenna towers), Wireless Telecommunications Facilities (excluding antenna towers) and Wireless Telecommunications Services, each of the foregoing being subject to review and written approval by the Design Review Board authorizing such Use. (x)Recreational facilities. (xi)Temporary real estate offices and construction offices. (xii)Residential management office. (xiii)Accessory Uses and Structures customarily appurtenant to Uses by Right. (xiv)Additional uses which the Director determines to be similar to Uses by Right. (xv)Planning Area RMF-1-1 Only: (1)Assisted living facilities. (xvi)Planning Area RMF-2-2 Only: (1)Pedestrian bridges. (b)Special Review Uses: (i)Religious Facilities, museums, libraries and public buildings. (ii)Group Home. (iii)Commercial Parking, Private Parking and Public Parking. (iv)Bus Stops, Bus Shelters, tramways, gondolas and lifts. 1650530.6 36 2985509.10 ATTACHMENT B (v)Wireless Telecommunications Equipment (antenna towers only) and Wireless Telecommunications Facilities (antenna towers only), each of the foregoing being subject to review and written approval by the Design Review Board authorizing such Use. (vi)Planning areaArea RMF-1-1 Only: (1)Rock and gravel crushing operations related to rock and gravel materials excavated within The Village (at Avon) PUD. (c)Prohibited Uses: (i)Commercial Uses (except as specifically included in Sections D.9(a) or D.9(b)). (ii)Industrial Uses. (iii)Mobile Homes. (d)Building Envelope Requirements: (i)Building Setback Requirement: 20 feet from Interstate-70 right-of-way 70 right-of-way, provided there shall be no other setback requirements except as may be necessary to accommodate utility improvements, lines and mains, facilities, services and buildings. (1)Front:20 feet. (2)Side:10 feet. (3)Rear:10 feet. (ii)Maximum Building Height: (1)Single-familySingle-family Dwellings and Duplex Dwellings: 35 feet. (2)Multi-family Dwellings: 48 feet. (3)Commercial: 48 feet. (iii)Minimum Landscaped Area: 20%. (iv)Minimum Lot Area: Not applicable. (e)Residential Density Maximum: (i)Planning Area RMF-2-2: 12 Dwelling Units per acre. 1650530.6 37 2985509.10 ATTACHMENT B (ii)Planning Area RMF-1: Subject to this Section D.9(e)(ii),-1: 6 Dwelling Units per acre; provided, however, cul-de-sacs, subject to the following: Notwithstanding anything to the contrary set forth in Title 15 or any other provision of the Municipal Code, cul-de-sacs may exceed 1,000 feet in length and service not more than 280 Dwelling Units in the aggregate within Planning Area K and Planning Area RMF-1-1; provided, further however, the portion of a cul-de-saccul-de-sac that is in excess of 1,000 feet shall not service Commercial Uses except those Commercial Uses specifically included in Sections D.9(a) or D.9(b). With respect to any cul-de-saccul-de-sac portions of which are located both within and outside of Planning Area RMF-1-1, (i) no Dwelling Units served by the portions of such cul-de-saccul-de-sac located outside of Planning Area RMF-1-1, excepting any Dwelling Units located within Planning Area K and served by such cul-de-saccul-de-sac, shall be counted toward the foregoing 280 Dwelling Unit limitation; and (ii) the portion of any such cul-de-saccul-de-sac located within Planning Area RMF-1-1 shall be deemed separate and distinct from, and not included with, any portion of the same cul-de-saccul-de-sac located outside of Planning Area RMF-1-1, excepting any portion of such cul-de-saccul-de-sac located within Planning Area K, for purposes of calculating the Dwelling Units counted toward the foregoing 280 Dwelling Unit limitation. (f)Parking Requirements: As set forth in the Parking Regulations. (g)Supplemental Regulations: All development is further subject to the supplemental regulations set forth in Section I below. (h)Street Requirements: Subject to Section D.9(e)(ii), streets are subject to the standards set forth in Exhibit F of this PUD Guide. 10.Planning Areas P1-P3: Parkland-.. (a)Uses By Right: Except as specifically identified as Special Review Uses in Section D.10(b) below or specifically prohibited in Section D.10(c) below, the following Primary Uses and Accessory Uses: (i)Agricultural Use (as an Interim Use only). (ii)Community Facilities (subject to review and written approval of such Uses by the Design Review Board). (iii)Equestrian, pedestrian and bicycle trails. (iv)Landscape improvements. (v)Indoor and outdoor, sports, training and recreation facilities. (vi)Lakes, ponds, reservoirs and irrigation ditches. 1650530.6 38 2985509.10 ATTACHMENT B (vii)Parks, picnic facilities and temporary entertainment for special events. (viii)Open Space. (ix)Infrastructure. (x)Dry Utilities. (xi)Cabled Telecommunications Equipment, Cabled Television Facilities and Cabled Telecommunications Services, each of the foregoing being subject to review and written approval by the Design Review Board authorizing such Use. (xii)Wireless Telecommunications Equipment (excluding antenna towers), Wireless Telecommunications Facilities (excluding antenna towers) and Wireless Telecommunications Services, each of the foregoing being subject to review and written approval by the Design Review Board authorizing such Use. (b)Special Review Uses: (i)Rock and gravel crushing operations related to rock and gravel materials excavated within The Village (at Avon) PUD. (ii)(iii) Wireless Telecommunications Equipment (antenna towers only) and Wireless Telecommunications Facilities (antenna towers only), each of the foregoing being subject to review and written approval by the Design Review Board authorizing such Use. (c)Prohibited Uses: (i)Residential Uses. (ii)Commercial Uses (except as specifically included in Sections D.10(a) or D.10(b)). (iii)Industrial Uses. (d)Building Envelope Requirements: (i)Building Setback Requirement: No minimum except must be sufficient to accommodate utilities, drainage, access, fire and building code regulations and flood plain of live streams. (ii)Maximum Building Height: 35 feet. (iii)Maximum Site Coverage: Not applicable. 1650530.6 39 2985509.10 ATTACHMENT B (iv)Minimum Lot Area: Not applicable. (e)Parking Requirements: As set forth in the Parking Regulations. (f)Supplemental Regulations: All development is further subject to the supplemental regulations set forth in Section I below. (g)Street Requirements: Streets are subject to the standards set forth in Exhibit F of this PUD Guide. 11.Planning Areas OS1 – 0S7OS7: Natural Open Space.. (a)Uses By Right: Except as specifically identified as Special Review Uses in Section D.11(b) below or specifically prohibited in Section D.11(c) below, the following Primary Uses and Accessory Uses: (i)Agricultural Use (as an Interim Use only). (ii)Equestrian, pedestrian and bicycle trails. (iii)Landscape improvements. (iv)Cabled Telecommunications Equipment, Cabled Television Facilities and Cabled Telecommunications Services. (v)Wireless Telecommunications Equipment (excluding antenna towers), Wireless Telecommunications Facilities (excluding antenna towers) and Wireless Telecommunications Services, each of the foregoing being subject to review and written approval by the Design Review Board authorizing such Use. (vi)Infrastructure. (vii)Dry Utilities. (viii)Snow storage. (ix)Public or private roads and utilities including but not limited to utility improvements, lines and mains, facilities, services and buildings; provided, however, such uses which are located in Planning Area OS6 shall be oriented on a generally north-south axis. (x)OS1 – 0S5OS5 and OS7: (1)Lakes, ponds, reservoirs and irrigation ditches. (2)Park and picnic facilities and related parking. 1650530.6 40 2985509.10 ATTACHMENT B (xi)OS5 and OS6 (subject to review and written approval of such Uses by the Design Review Board): (1)Community Facilities. (2)Recreational Uses including public river access. (3)Pedestrian and vehicular access, roads, bridges, bridge abutments and improvements reasonably related thereto. (b)Special Review Uses: (i)Rock and gravel crushing operations related to rock and gravel materials excavated within The Village (at Avon) PUD. (ii)OS6 only: The following Uses shall be permitted pursuant to the review and approval processes set forth in Section E below: (1)Lakes, ponds, reservoirs and irrigation ditches. (2)Park and picnic facilities and related parking (subject to review and written approval of such Uses by the Design Review Board). (iii)Wireless Telecommunications Equipment (antenna towers only) and Wireless Telecommunications Facilities (antenna towers only), each of the foregoing being subject to review and written approval by the Design Review Board authorizing such Use. (c)Prohibited Uses: All Uses other than Uses by Right and Special Review Uses specifically listed above. (d)Building Envelope Requirements: (i)Building Setback Requirement: Not applicable. (ii)Maximum Building Height: Not applicable. (iii)Maximum Site Coverage: Not applicable. (iv)Minimum Lot Area: Not applicable. (v)Minimum Lot Area: Not applicable. (e)Parking Requirements: As set forth in the Parking Regulations. (f)Supplemental Regulations: All development is further subject to the supplemental regulations set forth in Section I below. 1650530.6 41 2985509.10 ATTACHMENT B (g)Street Requirements: Streets are subject to the standards set forth in Exhibit F of this PUD Guide. 12.Planning Areas PF-1 –-2 and PF-3: Public Facility.. (a)Uses By Right: Except as specifically identified as Special Review Uses in Section D.12(b) below or specifically prohibited in Section D.12(c) below, the following Primary Uses and Accessory Uses: (i)Agricultural Use (as an Interim Use only). (ii)Public Facilities. (iii)Landscape improvements. (iv)Infrastructure. (v)Dry Utilities (subject to review and written approval of such Use by the Design Review Board). (vi)Within Tract E, Final Plat, The Village At Avon Filing 3 (Planning Area PF-3-3), and Tract F, Final Plat, The Village At Avon Filing 3 as amended (Planning Area PF-2-2), in accordance with and subject to the terms and conditions of Ordinance No. 06-1606-16: (1)emergency services facilities such as ambulance, fire protection; and (2)similar uses and services as determined by the Director. (b)Special Review Uses: The following Uses shall be permitted pursuant to the review and approval processes set forth in Section E below: (i)Lakes, ponds, reservoirs and irrigation ditches. (ii)Park and picnic facilities and related parking. (c)Prohibited Uses: All Uses other than Uses by Right and Special Review Uses specifically listed above. (d)Building Envelope Requirements: (i)Building Setback Requirement: Not applicable. (ii)Maximum Building Height: 35 feet. (1)Planning Area PF-1: 48 feet. 1650530.6 42 2985509.10 ATTACHMENT B (2)Planning Areas PF-2 and PF-3: 35 feet. (iii)Maximum Site Coverage: Not applicable. (iv)Minimum Landscaped Area: 20%. (v)Minimum Lot Area: Not applicable. (e)Parking Requirements: As set forth in the Parking Regulations. (f)Supplemental Regulations: All development is further subject to the supplemental regulations set forth in Section I below. (g)Street Requirements: Streets are subject to the standards set forth in Exhibit F of this PUD Guide. 13.Planning Areas CH-1 and CH-2 – Community Housing (a)Purpose: To mitigate the impact of the proposed development within The Village (at Avon) by providing land for Community Housing Units needs generated by the Uses proposed for development within The Village (at Avon) as reasonably necessary to serve The Village (at Avon) and future residents thereof. (b)Uses by Right: Except as specifically identified as Special Review Uses in Section D.13(c) below, or specifically prohibited in Section D.13(d) below, the following Primary and Accessory Uses: (i)Community Housing Units, subject to the limitations set forth in Section I.15 of the Community Housing Plan. (ii)Infrastructure. (iii)Dry Utilities. (iv)Accessory Uses and Structures customarily appurtenant to Uses by Right. (v)Planning Area CH-2, within Lot 5, Final Plat, The Village (at Avon) Filing 1 Only: (1)Public Facilities. (c)Special Review Use: (i)Child Care Center as an Accessory Use to Community Housing Units. (d)Prohibited Uses: 1650530.6 43 2985509.10 ATTACHMENT B (i)Commercial Uses (except as specifically included in Sections D.13(b) or D.13(c)). (ii)Industrial Uses. (iii)Mobile Homes. (iv)Short-Term Rentals. (e)Building Envelope Requirements: (i)Minimum Building Setbacks: (1)Front: a.For Planning Area CH-1: 10 feet b.For Planning Area CH-2: 25 feet (2)Side: None (3)Rear: 10 feet (ii)Maximum Building Height: (1)Planning Area CH-1 : 48 feet (2)Planning Area CH-2: 60 feet (iii)Residential Density Maximum: (1)Planning Area CH-1: Maximum of 36 Dwelling Units. (2)Planning Area CH-2: Maximum of 40 Dwelling Units. (iv)Minimum Landscaped Area: 20% (v)Minimum Lot Area: Not applicable. (f)Parking Requirements: As set forth in the Parking Regulations. (g)Street Requirements: Streets are subject to the standards set forth in Exhibit F of this PUD Guide. (h)Special Community Housing Unit Provisions. (i)All development is further subject to the supplemental regulations set forth in Section I below. 1650530.6 44 2985509.10 ATTACHMENT B (ii)Domestic water service to serve the 76 Community Housing Units contemplated within Planning Areas CH-1 and CH-2 pursuant to Section D.13(e)(iii) will be supplied from the Water Bank’s (as defined in Section 3.4(a) of the Development Agreement) potable water, while water service for any associated landscaping will be supplied from the Water Bank’s (as defined in Section 3.4(a) of the Development Agreement) non-potable water. Water service to serve any uses and/or density within Planning Areas CH-1 and CH-2 beyond the permitted maximum density set forth in Section D.13(e)(iii) will not be supplied from the Water Bank (as defined in Section 3.4(a) of the Development Agreement) without Master Landowner’s prior written approval. (iii)The Community Housing Units in Planning Area CH-1 and CH-2 will count toward satisfaction of the number of Community Housing Units required pursuant to Section I.15(a) of the Community Housing Plan. E.SPECIAL REVIEW USE.. 1.Special Review Use Permit.. (a)A Special Review Use shall require a special review use permit prior to the issuance of a building permit or the commencement of the use identified as a Special Review Use in the Development Standards. (b)A Special Review Use shall not be considered a Use by Right without review and approval, as set forth in Section E.2 below, nor shall a Special Review Use be permitted unless the Design Review Board approves a development plan for the applicable Site. (c)The procedural and substantive requirements set forth in this Section E constitute the sole and exclusive special review use regulations applicable within The Village (at Avon) PUD and expressly supersede any additional or conflicting provisions of the Municipal Code. 2.Application Filing and Processing.. (a)An Application with required materials (see Section E.3 below) shall be filed with Community Development. Only complete submittals shall be accepted. (b)Staff shall review the Application in accordance with the criteria established in this section and present the Application at a public hearing, which public hearing before the Planning and Zoning Commission shall be in accordance with Section 7.16.020(e) of the Development Code. (c)Developments and uses granted by special review use permit shall be developed or established in accordance with the timeframe provided in the approved special review use permit, or within two years of the date of approval if the timeframe is not established in the approved special review use permit. Subject to extension in accordance with Section E.5(b) below, failure to develop or establish such development 1650530.6 45 2985509.10 ATTACHMENT B or Uses in accordance with the timeframe established on the permit (or two years from the date of approval if no timeframe is established on the permit) shall result in the expiration of the permit. (d)A special review use permit is valid as long as conditions of approval are maintained by the Applicant, unless a specific time limit for the use is set forth as part of the approval. Subject to extension in accordance with Section E.5(b) below, if an approved Use ceases operation for any reason for a period of one year, the special review use permit shall be deemed expired. (e)If the conditions of a permit become the responsibility of a person or entity other than the Applicant, Community Development shall be notified in writing, identifying the new person or entity responsible for maintaining the conditions of the approval/permit. Until such notice is received, the Applicant shall remain responsible. Such notice shall be attached to the permit on file at Community Development. (f)If conditions of approval are not maintained, it shall be considered a violation of the Development Plan and the special review use permit shall be subject to revocation proceedings in accordance with the applicable provisions of the Municipal Code, the Design Review Guidelines and the Design Covenant. 3.Submittal Requirements for Special Review Use. Only complete submittals shall be accepted. No Application shall be deemed complete unless the Applicant has submitted to Community Development any or all of the following materials which are, in the opinion of the Director, relevant to the particular permit being requested: (a)A complete special review use permit Application and required fee; (b)A legal description of the parcel; (c)A site plan showing proposed Uses and structures on the property; (d)Scaled elevations and/or perspective drawings of any proposed structures; (e)A proposed development schedule indicating: (i)Date of the beginning of the Use and/or construction; (ii)Phases in which the project may be developed and the anticipated rate of development; (iii)The anticipated date of completion of the project; (f)Any agreements, provisions or covenants to be recorded; (g)Restoration or reclamation plans shall be required for all Uses requiring extensive grading, for extractive Uses, and may be required for other Uses as necessary; 1650530.6 46 2985509.10 ATTACHMENT B (h)A statement regarding any provisions for proper ongoing maintenance of the Use and site; (i)Any additional materials, which, in the opinion of the Director, are necessary to adequately review the Application. 4.Criteria for Review, Recommendation, and Approval of Special Review Uses. When evaluating an Application for a special review use permit, staff and the planning and zoning commission shall consider the following criteria: (a)Whether the proposed Use otherwise complies with all requirements imposed by the Development Plan; (b)Whether the proposed Use is compatible with adjacent uses. Such compatibility may be expressed in appearance, architectural scale and features, site design, and the control of any adverse impacts including noise, dust, odor, lighting, traffic, safety and other similar Development Standards; (c)Any significant adverse impacts (including but not limited to, hours of operation, traffic generation, lighting, noise, odor, dust, and other external impacts) anticipated to result from the use shall be mitigated or offset to the maximum extent practicable; and (d)Facilities and services (including sewage and waste disposal, water, gas, electricity, police and fire protection and roads and transportation, as applicable) shall be available to serve the subject property while maintaining adequate levels of service for existing development. 5.Amendments to Special Review Use Permit.. (a)No approved Special Review Use may be modified, structurally enlarged or expanded in ground area, unless such modification, enlargement or expansion receives the prior approval of the Planning and Zoning Commission, which shall be obtained by repetition of the granting procedures provided in this Section E or the Planning and Zoning Commission expressly authorizes modifications, enlargement or expansions of the Special Review Use in the prior approval of the Special Review Use. The Planning and Zoning Commission may authorize administrative approval of modifications, enlargement and expansion of Special Review Uses and may define a percentage or other parameter change to square footage of such Use, hours of operation, traffic or other aspects of the approved Special Review Use. (b)At least thirty (30) days prior to the expiration date of a special review use permit due to cessation of an approved Special Review Use for any reason for a period of one year, due to failure to develop or establish an approved Special Review Use in accordance with the timeframe established on the permit (or two years from the date of such approval if no timeframe is established on the permit) as provided for in Section E.2 above, or due to expiration of a term established in the Special Review Use approval, an Applicant may request, in writing, approval of an extension of such expiration date. The 1650530.6 47 2985509.10 ATTACHMENT B Director may administratively approve up to a one-year extension of an approved Special Review Use. The Planning and Zoning Commission may approve an extension of the Special Review Use for longer than one year in accordance with the procedures and criteria for review established in this Section E. F.TEMPORARY USES AND STRUCTURES. Temporary Uses and Structures shall be allowed in accordance with the substantive and procedural requirements of the Development Code; provided, however, no Temporary Use or Structure shall be permitted unless the Design Review Board approves a development plan for the applicable Site as evidenced by the issuance of a certificate of Design Review Board approval affixed to the Application. G.SUBDIVISION.. 1.General; Applicability.. (a)Except as modified by this Section G, the procedural and substantive requirements set forth Section 7.16.070 of the Development Code, as in effect on the date of execution of the Settlement Term SheetOctober 7, 2011, as attached as Exhibit IH to this PUD Guide, shall apply to Planning Areas A, B, C, D, E, F and, J, K, and RMF-1 (collectively, the “Administrative Subdivision Areas”). Notwithstanding the foregoing, if, subsequent to the Effective DateOctober 7, 2011, the Town amends from time to time Section 7.16.070 of the Development Code, the Master DeveloperLandowner, in its sole discretion, may consider amendment of this PUD Guide to incorporate such amended provisions herein, which amendment(s), if any, shall be processed in accordance with the administrative amendment procedure set forth in Section H.3. (b)Except as modified by Section G.1(c), subdivision within all Planning Areas excepting the Administrative Subdivision Areas shall be in accordance with Section 7.16.070 of the Development Code. (c)Subdivision review and approval shall not be required for any division of land within The Village (at Avon) for any of the following: (i) Creation of a lien, mortgage, deed of trust or any other security instrument; (ii)Creation of any interest in an investment entity; (iii)Creation of cemetery lots; (iv)Creation of an interest or interests in oil, gas, minerals or water that are severed from the surface ownership of real property; (v)Acquisition of an interest in land in the name of a husband or wife or other persons in joint tenancy, or as tenants in common of such interest, and any interest in common owned in joint tenancy shall be considered a single interest; 1650530.6 48 2985509.10 ATTACHMENT B (vi)Dedication of land for right-of-way or other public use, or conveyances relating to the vacation of land designated for public use, if subdivision review and approval is waived by the Town; (vii)Correction of a legal description in a prior conveyance, if subdivision review and approval is waived by the Town; (viii)Any transfer by operation of law or bequest; (ix)Lease of property (granting of leasehold interests) for any period of time; (x)Division of land created by the foreclosure, or provision of deed-in-lieu of foreclosure, of a lien, mortgage, deed of trust or any other security instrument. 2.Application Submittal Items. With respect to any submittal item for a Final Plat Application within the Administrative Subdivision Areas required by the Town, if the Applicant disagrees with the determination of staff or the Director, as applicable, with respect to the necessity of such submittal item or the required substance or required quality of such submittal item, the Town and the Applicant shall jointly appoint a third party having experience in engineering and subdivision matters to review the Final Plat Application and decide upon the appropriateness of requiring such submittal item or the appropriateness of the required substance or required quality of such submittal item, as applicable. Such third party’s determination shall be binding upon the Town and the Applicant. Notwithstanding the foregoing, in no event shall the Town require any submittal item for a Final Plat Application that relates to matters that are within the exclusive authority of the Design Review Board to approve, including without limitation, architectural design, landscape design, urban design and site design. 3.Procedure. Except as set forth in Section G.5, subdivisions, subdivision amendments and re-subdivisions within the Administrative Subdivision Areas (including without limitation, any amendments to or re-subdivisions of Lot 1, Final Plat of The Village (at Avon) Filing 1) shall require Final Plat review and approval only (no Preliminary Plan approval shall be required), which review and approval shall be administrative with an administrative decision rendered on such Final Plat by the Director. Public hearings shall not be required except as may be requested by the Applicant. Notice of a subdivision Application shall be posted and mailed to property owners within the vicinity of the property subject to the applicable Application in accordance with the requirements of the Development Code. Prior to the Director rendering a decision to reject or deny an Application, the Director shall give the Applicant prior written notice of the Director’s intent to reject or deny such Application, which notice shall include a good faith detailed accounting of the reasons for such intended rejection or denial and proposed recommendation(s) for satisfactorily addressing such deficiencies, and the Applicant shall have an opportunity to amend such Application prior to the Director finally rejecting or denying the Final Plat. The Director shall render a written decision on the Final Plat Application and shall post a notice of such decision in the same manner as the posting of Town ordinances, and the date of such posting shall be the date of the final decision of the Director for appeal purposes. 1650530.6 49 2985509.10 ATTACHMENT B 4.Criteria for Review and Approval. Subject to this Section G.4, the Director shall consider the criteria set forth in Sections 7.16.070(e) and (f) of the Development Code, as in effect on the date of execution of the Settlement Term SheetOctober 7, 2011, when evaluating an Application for Final Plat approval, as modified as follows: (ia)The Director shall not consider the review criteria set forth in the following sections, which sections shall not apply to the Administrative Subdivision Areas: Sections 7.16.070(e)(5) & (9) and Sections 7.16.070(f)(2) & (3). (iib)The review criteria set forth in Section 7.16.070(e)(1) is modified as follows: The proposed subdivision shall comply with all applicable use, density, development and design standards set forth in this PUD Guide that have not been otherwise modified or waived through the alternative equivalent compliance process and that would affect or influence the layout of lots, blocks and streets. Applicants shall not create lots or patterns of lots in the subdivision that will make compliance with such development and design standards infeasible or impossible. (iiic)The review criteria set forth in Section 7.16.070(e)(3) is modified as follows: The subdivision application shall be consistent with the Comprehensive Plan and other community planning documents, as modified by the Development Plan. (ivd)The review criteria set forth in Section 7.16.070(e)(7) is modified as follows: The proposed utility and road extensions are consistent with the utility’s service plan and are consistent with the Comprehensive Plan and the Transportation Master Plan, as modified by the Development Plan. (ve)The review criteria set forth in Section 7.16.070(f)(4) is modified as follows: The development will substantially comply with all sections of the Development Code, as modified by the Development Plan. 5.Material Modification to Certain Street Connections.. (a)If there is any express or implied conflict between the terms and conditions of the Development Plan and the terms and conditions of the Transportation Master Plan, the Development Plan shall control. (b)If an Application for an Administrative Subdivision Area proposes an elimination of one or more of the following street connections (the “Required Street Connections”),the Director may, in the Director’s sole discretion, determine that such Application shall not be subject to administrative approval and may direct that such Application be submitted to Town Council for review and decision: (i) Main Street connection to Chapel Place; (ii)Main Street connection to Post Boulevard roundabout; 1650530.6 50 2985509.10 ATTACHMENT B (iii)East Beaver Creek Boulevard connection at northern boundary of Planning Area A to existing East Beaver Creek Boulevard adjacent to the Property; (iv)East Beaver Creek Boulevard connection at Post Boulevard connecting to Fawcett Road; and (v)Connection from westernmost roundabout on Main Street to East Beaver Creek Boulevard. (vi)Connection across Planning Area J located east of Post Boulevard/Swift Gulch Road roundabout to northeast corner of the “Forest Service parcel” located east of Planning Area J and west of Planning Area I. (c)For any Application for an Administrative Subdivision Area submitted to Town Council pursuant to Section G.5(b), Town Council shall render a decision on the Application after conducting a public hearing, and public notice of the Town Council hearing on such Application shall be given in accordance with the requirements of the Development Code. H.DEVELOPMENT PLAN AMENDMENT PROCEDURES.. 1.General.. (a)Amendments to this PUD Guide may be processed by the Town either formally or administratively, with the determination of the applicable procedure to be made in strict compliance with the terms and conditions of this Section H. (b)During the term of the Vested Property Rights, no amendment to or variance from the terms of the Development Plan, and no application for rezoning of all or any part of the property included within The Village (at Avon) PUD, shall be accepted for processing, or approved or undertaken by the Town without the prior written consent of the Master DeveloperLandowner. (c)Any such amendment shall contain the statement required pursuant to Section 7.16.140(d) of the Development Code, shall be processed and otherwise implemented in compliance with the terms and conditions set forth in Section A.3 above, and shall create Vested Property Rights for the duration of the term set forth in Section A.3 above. No such amendment shall divest, limit or otherwise impair any Vested Property Right set forth in Section A.3 above. (d)Prior to the Director or Council, as applicable, rendering a decision to reject or deny an Application for an amendment to the Development Plan, the Director or Council, as applicable, shall give the Applicant prior written notice of the Director’s, or Council’s, as applicable, intent to reject or deny such Application, which notice shall include a detailed accounting of the reasons for such intended rejection or denial and proposed recommendation(s) for satisfactorily addressing such deficiencies, and the Applicant shall have an opportunity within the timeframes afforded by the Development 1650530.6 51 2985509.10 ATTACHMENT B Code to amend such Application prior to the Director or Council, as applicable, finally rejecting or denying the Application. 2.Formal Amendments. Amendments to this PUD Guide which do not qualify for the administrative amendment process described in Section H.3 below shall follow the formal amendment process set forth in Section 7.16.060 of the Development Code, except that the provisions of Section H.1 above shall apply to all formal amendments of this PUD Guide. Nothing herein shall be deemed to prevent an Applicant from voluntarily choosing to apply for a formal amendment, or from appealing to Council or the courts the Director’s determination of eligibility for administrative amendment and/or denial of a request for an administrative amendment. 3.Administrative Amendments.. (a)Intent; Determination of Applicable Amendment Procedure. The intent of this Section H.3 is to provide a simplified amendment procedure for minor modifications to this PUD Guide. As used herein, the term “minor modifications” means an Application meeting the criteria stated Section H.3(b)(i) through H.3(b)(vi) below, which shall be processed as an administrative amendment application, and an Application meeting the criteria stated in Section H.3(b)(vii) below, which may be processed as an administrative amendment application in the discretion of the Director. (b)Qualifying Administrative Amendments. An Application for administrative amendment that complies with (I) the specific criteria for approval set forth in Sections H.3(b)(i) through H.3(b)(vi) below, as applicable, shall be processed and approved administratively, and shall be entitled to a presumption of compliance with the general criteria for approval set forth in Section H.3(b)(vii) below; or (II) the general criteria for approval set forth in Section H.3(b)(vii) below may be processed and approved administratively: (i)Density Allowance. Provided the aggregate number of Dwelling Units within Planning Areas A, C, D, F, G, H, J, K, RMF 1 and RMF 2 does not exceed 2,400, a ten percent (10%) increase in the number of Dwelling Units allowed within any Planning Area stated herein. (ii)Road Alignments. Changes to public or private street locations, internal circulation design/pattern or traffic capacity of the overall road network within the Property that has been approved by the Town and which may require a conforming amendment to this PUD Guide shall be processed and approved administratively. (iii)Public Improvements. Amendments to the Development Agreement, if any, that affect the scope of Public Improvements may require a conforming administrative amendment to this PUD Guide, if the revision affects Development Standards for a particular Site or Planning Area. (iv)Subdivision Related Changes Affecting Development Plans. If the Town approves any Preliminary Plan or Final Plat that incorporates any 1650530.6 52 2985509.10 ATTACHMENT B subdivision related element that is inconsistent or conflicts with any Development Standard or other element of this PUD Guide, including without limitation, any modifications to street extension(s) and/or street alignment(s) (including without limitation, elimination of the Required Street Connections), any conforming amendment to this PUD Guide that may be required shall be processed and approved administratively. Examples of subdivision related elements that may require a conforming amendment to this PUD Guide include, without limitation, lot line locations, right-of-way locations, internal public or private roadway locations, emergency access locations, utility locations, vacations, Planning Area boundaries, Building Envelope locations and/or areas, and other similar elements. Such conforming amendments shall apply only to the specific Lot(s) or Planning Area(s) affected by the Preliminary Plan or Final Plat the approval of which necessitated the conforming amendment. Any proposed elimination of a Required Street Connection that is not processed and approved in connection with a Preliminary Plan or Final Plat shall be subject to the formal amendment process set forth in Section H.2. (v)Planning Area Boundaries and Lot Lines. With the written consent of the Master DeveloperLandowner, an Applicant may amend the PUD Master Plan to increase or decrease the size of any Planning Area to conform the PUD Master Plan to an approved Final Plat or Application therefor that is being processed concurrently with such PUD Master Plan amendment. In addition, with the consent of the Master DeveloperLandowner, an Applicant may amend the PUD Master Plan to relocate or otherwise modify Lot lines and Planning Area boundaries and locations due to site planning or engineering considerations that are not directly associated with an approved or in-process Final Plat or other Application. The foregoing PUD Master Plan amendments and any other conforming amendments to this PUD Guide (to the extent that such modifications are necessary or desirable in connection with such PUD Master Plan amendments) shall be processed and approved administratively so long as the size of largest affected Planning Area is not increased or decreased by more than 10 percent. [e.g., if Planning Area X is 30 acres and Planning Area Y is 10 acres and abuts Planning Area X, Planning Area X (being the larger of the two planning areas) may be increased by three acres (30 acres X 10% = 3 acres) and Planning Area Y may be decreased by the corresponding three acres, and such amendment to the PUD Master Plan shall be administratively approved.] The relocation of an entire Planning Area to another location within The Village (at Avon) PUD shall follow the formal amendment process. (vi)Certain Text Amendments. Amendments to this PUD Guide as contemplated by Section A.1 (Definitions) and, Section G (Subdivision) and, Section I.15 (AffordableCommunity Housing Plan), and Exhibit C (Parking Regulations) shall be processed and approved administratively. Any amendment to this PUD Guide shall be processed and approved administratively. If the Master DeveloperLandowner, in its sole discretion, submits an Application to the Town to amend this PUD Guide to substitute Chapter 15.30 of the Municipal 1650530.6 53 2985509.10 ATTACHMENT B Code for the lighting standards set forth in Exhibit E, such amendment, if any, shall be processed and approved administratively. (vii)Compatible and Adequately Mitigated Modifications. In addition to the specific criteria for approval set forth in Sections H.3(b)(i) through H.3(b)(vi) above, the Director may approve Applications that request modifications to Development Standards which comply with the following general criteria for approval: (1)are not materially incompatible with immediately adjacent Uses; and (2)are not fundamentally inconsistent with the Development Standards set forth in this PUD Guide other than the specific Development Standard addressed by the requested amendment; and (3)incorporate measures which adequately address significant impacts, if any, to immediately adjacent Uses. (c)Procedure. (i)Applicants must meet with the Director or his or her designated representative prior to submittal of an administrative amendment request (unless waived by the Director) in order to obtain input into the appropriateness of the request and the materials required to be submitted with the request. (ii)Upon a complete submittal of the required materials, the Director shall determine, within fifteen (15) days after submittal of the request, the completeness of the request and whether it qualifies to be processed administratively. With respect to administrative amendments contemplated in Section H.3(b)(vi), the Director’s review shall be limited to signing off on the form of instrument submitted by the Applicant for recording in the real property records for the County of Eagle, State of Colorado pursuant to Section H.3(c)(v). (iii)If the administrative amendment request complies with Sections H.3(b)(i) through H.3(b)(vii) above, as applicable, it shall be processed administratively and the Director is authorized to approve the request. If the request does not comply with Sections H.3(b)(i) through H.3(b)(vii), as applicable, Section H.2 above shall apply to the request. (iv)The Applicant may appeal any action or decision of the Director with respect to an administrative amendment request to Council by filing a written request for such appeal with the Town Clerk by not later than 5:00 p.m. on the 30th day following the action or decision being appealed. Such appeal may request a review of the Director’s determination of an Application’s eligibility for administrative processing and/or the Director’s decision to deny or approve with conditions an administrative amendment Application. 1650530.6 54 2985509.10 ATTACHMENT B (v)Upon approval of an administrative amendment, the Applicant shall submit to Community Development a revised PUD Guide, or applicable portion thereof. Such revised documentation shall be signed by the Master DeveloperLandowner, the owner(s) of record and the Director, will be kept on file at Community Development, and shall be recorded in the real property records for the County of Eagle, State of Colorado. 4.Modifications Not Requiring Amendment.. (a)No amendment (formal or administrative) to the Development Plan, or applicable component thereof, shall be required to modify the following Development Standards: (i)Maximum and Minimum Development Standards. No amendment shall be required for (x) reductions to density allowance, maximum Building Height, square footage allowance and Site Coverage Development Standards, or (y) increases to minimum Building Setback, Lot Area and parking requirements. (ii)Planning Area K Building Envelopes. No PUD Guide amendment shall be required with respect to the establishment of the final Building Envelope of a Lot or Site within Planning Area K, it being the intent of this PUD Guide that Building Envelopes within Planning Area K shall be established only pursuant to a Final Plat as otherwise set forth in this PUD Guide. (b)If a modification to this PUD Guide does not require an amendment pursuant to this Section H.4, the Applicant shall submit to Community Development a revised PUD Guide setting forth such modification. Such revised documentation shall be signed by the Master DeveloperLandowner and the owner(s) of record, will be kept on file at Community Development, and shall be recorded in the real property records for the County of Eagle, State of Colorado. I.SUPPLEMENTAL REGULATIONS.. 1.Interim Uses. Interim Uses shall be permitted within The Village (at Avon) PUD as follows: (a)The following Uses or structures, in existence from time to time prior to development of the applicable portion of The Village (at Avon) PUD, shall be considered approved Interim Uses without the requirement of further action, but subject to approval, modification and/or termination as provided above in connection with Design Review Board processing of applications therefor in accordance with the Design Review Guidelines and Design Covenant: (i)Agricultural Uses within undeveloped portions of The Village (at Avon) PUD generally. 1650530.6 55 2985509.10 ATTACHMENT B (ii)The rodeo and ancillary carnival use within Planning Area A to the extent of such use for the last three years including a maximum 20% expansion of the square footage of the existing rodeo area and related parking and expansion of seasonal timeframe of operations (expansion in excess of 20% or expansion of hours of operation shall require a Temporary Use permit). (iii)Driving course and accessory hospitality services related to automobile demonstrations, promotions and sales in Planning Area A, not to exceed 10 days in the aggregate in a calendar year, provided that such Use exceeding 10 days in the aggregate in a calendar year shall require a Temporary Use permit. (iv)Recycling Facility and trash drop-off within Planning Areas A and D existing as of the Effective Date. (v)Snow storage within undeveloped portions of The Village (at Avon) PUD generally. (vi)The Mobile Home office/storage Use existing as of the Effective Date and community garden within Planning Area A. (b)Agricultural and snow storage Uses (unless specifically designated as ana Prohibited Use within the applicable Planning Area) shall be permitted on undeveloped land within all Planning Areas until such time as the Town approves an initial building permit Application for construction of a Building on the applicable Site, provided that such Uses may continue on the portion of the applicable Planning Area for which a building permit Application has not been approved by the Town. 2.Solid Fuel Burning Devices. Development within The Village (at Avon) PUD shall comply with Chapter 15.24, Solid Fuel Burning Devices, of the Municipal Code, as in effect on the date of execution of the Settlement Term SheetOctober 7, 2011. 3.Signs. Signs shall be permitted in all Planning Areas within The Village (at Avon) PUD provided they are in conformance with Design Review Guidelines, the terms and requirements of which comprise the sole and exclusive sign regulations within the Village (at Avon) PUD and expressly supersede any sign regulations set forth in the Municipal Code. All signage and streetscape improvements, including any future modifications to built signage and streetscape improvements, located within public rights-of-way within The Village (at Avon) shall be in conformance with the Manual of Uniform Traffic Control Devices for Streets and Highways. Except as otherwise provided in this Section I.3, the Design Review Board is the sole and exclusive authority for approval of signs within The Village (at Avon) PUD. The Town has approval authority with respect to confirming that signs and landscaping approved by the Design Review Board in the public rights-of-way within The Village (at Avon) PUD relating to safety and traffic control comply with the Manual of Uniform Traffic Control Devices for Streets and Highways. Sign installation shall be subject to the requirements of Section 15.28.050(c) of the Municipal Code. 1650530.6 56 2985509.10 ATTACHMENT B 4.Parking Requirements. Parking within The Village (at Avon) shall be in conformance with Parking Regulations set forth in Exhibit C to this PUD Guide, which shall be the sole and exclusive parking regulations applicable within The Village (at Avon) PUD and which expressly supersede any parking regulations set forth in the Municipal Code, including without limitation, any additional or conflicting such provisions. Notwithstanding the foregoing, parking within The Village (at Avon) shall comply with the requirements of the Americans with Disabilities Act and any other applicable federal regulations as may be amended and as may be applicable in accordance with the provisions of such federal regulations. 5.Surface Parking Landscaping Requirements. A 10’ wide perimeter landscape buffer shall be installed and maintained for all outdoor surface parking lots within The Village (at Avon) PUD, except for points of ingress and egress to the parking lot, and except for those portions of the perimeter that abut existing or planned outdoor surface parking areas. The landscaping plan for such landscape buffers shall comply with applicable provisions of the Design Review Guidelines, and shall be subject to prior approval of the Design Review Board. 6.Drainage Requirements.. (a)In addition to the Town’s drainage provisions, the following provisions shall also apply to drainage: (i)Floodplains that are a result of manmade structures can be eliminated by enlarging the existing drainage conveyance facilities such that excessive backwater/floodplains would be diminished, but in no event shall such enlargement of existing facilities cause an increase in the 100-year flood level elevation on adjacent or downstream properties. (ii)If demonstrated that the release of flows directly into the Eagle River does not result in an increase of the 100-year flood level elevation of the Eagle River, such developed releases shall be allowed. This determination shall be based upon analysis of the Eagle River basin hydrograph and the site-developed hydrograph being combined. (b)In processing any Application for development within the Property, the Town shall incorporate the assumptions of the drainage study prepared by David Johnson for the Property (the “Johnson Study”) with respect to reducing the calculated stormwater flows, management and detention requirements based on the mitigating effect of vegetation within the Property. The assumptions set forth in the Johnson Study shall govern and control over any conflicting provisions or assumptions in the Town’s drainage master plan, as may be amended from time to time; provided, however, if the Town amends its drainage master plan, which amendment results in less restrictive or less burdensome provisions than set forth in the Johnson Study, such less restrictive or less burdensome provisions in the Town’s drainage master plan shall apply to the Property. 7.Sidewalk and Trail Standards. The minimum sidewalk and trail width standards shall be as follows: 1650530.6 57 2985509.10 ATTACHMENT B (a)Sidewalk: Except as set forth in Exhibit F, 4’ minimum width for local streets and 6’ minimum width for collector and arterial streets. (b)Multi-use trails: 8’ minimum width. 8.Alternative Equivalent Compliance and Variances. Deviations from strict application of a standard or requirement of the Development Code shall be considered by the Town on a case by case basis in accordance with (a) Section 7.16.120 (alternative equivalent compliance) of the Development Code, provided that such deviations may only be considered by the Town for those subject matters expressly set forth in Section 7.16.120; or (b) Section 7.16.110 (variances) of the Development Code. 9.Supplemental Design Standards: Planning Area J Hotel, Motel and Lodge Requirements. The following supplemental design and improvement standards shall apply to any Hotel, Motel and Lodge Uses developed within Planning Area J (“Supplemental Hotel Design Standards”) in addition to other applicable design standards set forth in this PUD Guide, including without limitation, the Minimum Design Guideline Standards. Compliance with these Supplemental Hotel Design Standards shall be confirmed by the Design Review Board and the Director prior to issuance of any building permit for a Building designated for Hotel, Motel and Lodging Uses. Deviations from these Supplemental Hotel Design Standards may be considered and approved in accordance with Section 7.16.120 (alternative equivalent compliance) of the Development Code. The Supplemental Hotel Design Standards are as follows: (a)Exterior Building Materials and Color. (i)Requirements (1)A minimum of 20% of the vertical surfaces on each side of the exterior building elevation shall be comprised of stone, brick, precast concrete or cast stone. (2)Colors shall have a LRV (Light Reflective Value) of sixty (60) or less. (3)All window frames shall be metal clad or alloy extrusions. (ii)Prohibited (1)Colors shall not have a LRV greater than sixty (60). (2)Asphalt siding, imitation brick, asbestos cement shingles or siding, imitation log siding, aluminum or vinyl siding and exterior insulated finishing system (EIFS) are not permitted. (3)Reflective glass shall not be permitted. (b)Roofs. 1650530.6 58 2985509.10 ATTACHMENT B (i)Pitched (1)All pitched roofs shall be no less than a four-to-twelvefour-to-twelve (4:12) slope. (2)Roof materials shall be unglazed concrete tiles, slate, copper, zinc, standing seam pre-patina metal (CorTen or equivalent) or synthetic shakes. Solar and thermal collectors are permitted. (3)Overhangs are required. Buildings of two (2) stories or less shall have an overhang of no less than eighteen (18) inches, measured from the point where the wall meets the roof. Three (3) to four (4) story Buildings shall have an overhang of no less than twenty-fourtwenty-four (24) inches, measured from the point where the wall meets the roof. (ii)Flat. Flat roofs shall have concrete pavers or stone ballast. Grass roofs and solar and thermal collectors are permitted. (c)Screening. All mechanical, communications and electrical equipment (wall and roof mounted) shall be screened from view of the adjacent street level with siding and/or roofing materials consistent with the Structure. All vent terminations, flashings, flues, safety apparatus and similar features shall utilize adjacent materials. (d)Articulation. Walls shall not span more than fifty (50) feet horizontally without a minimum of two (2) feet variation in the horizontal wall plane. Walls shall not span more than thirty (30) feet on any floor level without a minimum of one (1) architectural element. 10.Wildlife Mitigation Plan. Development within The Village (at Avon) PUD shall comply with the Wildlife Mitigation Plan attached as Exhibit D to this PUD Guide, which is and shall constitute the sole and exclusive wildlife mitigation measures required for The Village (at Avon) PUD and expressly supersedes any wildlife mitigation regulations set forth in the Municipal Code. 11.Design Review Guidelines.. (a)The Master DeveloperLandowner previously has prepared, and the Design Review Board previously has adopted, Design Review Guidelines which the Design Review Board utilized and shall utilize for review of all development proposals within The Village (at Avon). For portions of the Property south of Interstate 70 and all portions of the Property north of Interstate 70 other than Planning Area RMF-1-1 and Planning Area K, the Design Review Guidelines shall contain, among other matters, requirements and standards that meet or exceed the Minimum Design Review Standards. (b)The Master DeveloperLandowner or the Design Review Board may, in accordance with the terms and conditions of the Design Covenant and the Design Review Guidelines, as applicable, amend the approved and adopted Design Review Guidelines. 1650530.6 59 2985509.10 ATTACHMENT B Amendments to the Design Review Guidelines that do not conflict with any term of or are more stringent than any Development Standard established by this PUD Guide shall not require an amendment to this PUD Guide, and shall not require review by the Town. Amendments to the Design Review Guidelines which are less stringent than any Development Standard established by this PUD Guide may require an amendment to this PUD Guide which, in the discretion of the Director, may be processed formally or administratively pursuant to Section H of this PUD Guide. (c)The Design Review Board shall have primary responsibility for enforcing the Design Review Guidelines. If Council determines in good faith at a public hearing after notice to the Design Review Board (which notice shall be in writing and given no later than twenty (20) days prior to the date of such hearing by certified mail addressed to the President of the Design Review Board) that the Design Review Board is not properly enforcing the Design Review Guidelines, Council shall provide written notice to the Design Review Board of such determination. Such notice shall state with particularity the alleged failure and Council’s factual findings supporting such determination. If the Design Review Board fails to correct the stated deficiency within thirty (30) days after receipt of such notice, Council may, but shall not be obligated to, enforce the Design Review Guidelines with respect to the matters addressed in the notice. (d)Nothing in this Section I.11 shall be deemed to prevent Master DeveloperLandowner and/or the Design Review Board from appealing to the courts the disapproval of the Design Review Guidelines by the Town or enforcement of the Design Review Guidelines, or from pursuing in the courts any remedy otherwise available at law or in equity. 12.Natural Resource Protection. Development within The Village (at Avon) PUD shall comply with Section 7.28.100 of the Development Code, as in effect on the date of execution of the Settlement Term SheetOctober 7, 2011, except as set forth in this section or expressly exempted in Exhibit G to this PUD Guide. Notwithstanding any contrary provision of the Municipal Code, as in effect from time to time, development within The Village (at Avon) PUD may occur on slopes of thirty percent (30%) or greater for public improvements, other infrastructure improvements, streets, drive lanes, driveways, utilities and similar improvements. 13.Residential Fire Suppression Systems. All single-family and multi-family residential structures constructed in Planning Area RMF-1-1 and in Planning Area K shall include fire suppression sys tems as required by applicable Eagle River Fire Protection District regulations, as may be amended from time to time and applied on a uniform and nondiscriminatory basis within the Town. With Respect to Planning Area RMF-1-1 and Planning Area K, the Town may enforce the applicable Eagle River Fire Protection District regulations but may not adopt or apply any residential fire suppression system regulations which are more stringent or inconsistent with residential fire suppressions system regulations adopted by the Eagle River Fire Protection District for Planning Area RMF-1-1 and Planning Area K. 14.Park, Recreation and Trail Access. All parks, recreation and trails facilities the construction, maintenance and operation of which the “Districts” (as described in Exhibit F of the Development Agreement) finance shall be open, on a uniform and nondiscriminatory basis, 1650530.6 60 2985509.10 ATTACHMENT B to all residents of the Town at such times and subject to such rules and regulations as the Districts shall prescribe. Additionally, the Master DeveloperLandowner shall facilitate, but shall have no obligation to construct or install, non-motorized access through the Property to off-siteoff-site trail systems as follows, which obligations shall constitute the sole and exclusive off-site trail connection requirements for The Village (at Avon) PUD and expressly supersede any off-site trail connection regulations set forth in the Municipal Code: (a)Master DeveloperLandowner previously has provided a public trail head location in Planning Area RMF-2-2, connected by a trail to United States Forest Service property located north of Planning Area OS1, and Master Developer’sLandowner’s obligations with respect to public trail connectivity between Planning Area RMF-2-2 and Planning Area OS1 have thereby been fully satisfied as ofprior to the Effective Date; and (b)Master DeveloperLandowner shall facilitate, but shall not have the obligation to construct, a trail, sidewalk and/or road to be oriented on a generally east-west axis, and which shall cross the Property solely through Planning Areas I, J, P3, OS2 and RMF-2-2 and the most southerly quarter section of Planning Area K. Master DeveloperLandowner shall determine in its sole discretion the location within the Property of such trail, sidewalk and/or road. 15.AffordableCommunity Housing Plan. Master DeveloperLandowner will provide for affordable housing, or assure that others provide, for Community Housing Units within the Property at locations determined by Master DeveloperLandowner in its sole discretion and in accordance with the following terms, conditions and requirements set forth in this Section I.15. The obligations set forth in this Section I.15 shall constitute the sole and exclusive affordable or community housing requirements for The Village (at Avon) PUD and expressly supersede any affordable or community housing regulations set forth in the Municipal Code. Notwithstanding the foregoing, if, subsequent to the Effective DateAugust 1, 2014, the Town amends from time to time Section 7.20.100 of the Development Code, the Master DeveloperLandowner, in its sole discretion, may consider amendment of this PUD Guide to incorporate such amended provisions herein, which amendment(s), if any, shall be processed in accordance with the administrative amendment procedure set forth in Section H.3. (a)Master DeveloperLandowner will provide for a total of 500 affordable housing unitsCommunity Housing Units, or assure that the same are supplied by others, as set forth below.The greater of the number of Community Housing Units (x) permitted within Planning Areas CH-1 and CH-2 pursuant to Section D.13(e)(iii) and (y) actually constructed within Planning Areas CH-1 and CH-2, shall count towards the Property’s Community Housing Unit obligation, regardless of whether or when the Town causes the construction of such Community Housing Units. As of the Effective Date, Master DeveloperLandowner has provided 244 affordable housing units, and, therefore, Master Developer’s320 Community Housing Units [36 Community Housing Units permitted, but not yet constructed, in Planning Area CH-1 + 40 Community Housing Units permitted, but not yet constructed, in Planning Area CH-2 + 244 Community Housing Units in other areas of the Property = 320]. Therefore, Master Landowner’s obligation after the Effective Date is to provide, or assure others provide, the remaining 256 affordable housing units [500 – 244 = 256]180 Community Housing Units [500 – 320 = 180] (“Remaining Community Housing Units”). The Master DeveloperLandowner will have an obligation to provide the remaining 256 affordable housing units, or assure others provide, the Remaining Community 1650530.6 61 2985509.10 ATTACHMENT B Housing Units at such time as both of the following conditions have been satisfied: (i) the Town has issued final certificates of occupancy for Commercial Space within the Property in the aggregate of 650,000 square feet of consolidated Gross Square Footage; and (ii) the Town has issued final certificates of occupancy for an aggregate of 1,881 Dwelling Units. The foregoing calculationsconditions (i) and (ii) shall not include past or additional affordable housing unitsCommunity Housing Units and shall not include Commercial Space or Dwelling Units located within Planning Area I. (b)The Master DeveloperLandowner will have an obligation to provide an additional 23 affordable housing unitsCommunity Housing Units, or assure that the same are supplied by others, as set forth below and as follows:Thethe Master DeveloperLandowner will have the obligation to provide such additional 23 affordable housing unitsCommunity Housing Units only upon the satisfaction of the conditions precedent as set forth in this subsection. The Master DeveloperLandowner will have the obligation to provide 13 of the additional 23 affordable housing unitsCommunity Housing Units only upon the Town’s issuance of final certificates of occupancy for Commercial Space within the Property in the aggregate of 750,000 square feet of consolidated Gross Square Footage. The Master DeveloperLandowner will have the obligation to provide an additional 10 of such 23 affordable housing unitsCommunity Housing Units (for a total of 23 additional affordable housing unitsCommunity Housing Units) only upon the Town’s issuance of final certificates of occupancy for Commercial Space within the Property in the aggregate of 825,000 square feet of consolidated Gross Square Footage. (c)Priority in the sale and rental of the units will first go to people employed in the Property, second to people employed in the Town outside of the Property, and third to people employed in Eagle County outside of the Town; provided, however, that within Planning Area RMF-2 the priority in the rental of units qualified as required affordable housing units will first go to people employed in the Town and second to people employed in Eagle County outside of the Town.In accordance with the terms of the Original PUD, a minimum of 100 Community Housing Units,were constructed in conjunction with the initial phase of commercial and/or residential construction within the Property. The timing of the construction of the Remaining Community Housing Units shall be as described in Sections I.15(a) and I.15(b). (d)For-sale units will be targeted to households earning 80% - 120% of the Eagle County Median Family Income (the “ECMFI”) as determined by the Department of Housing and Urban Development guidelines or by the Town in the event such guidelines cease to be maintained by the Department of Housing and Urban Development.Not more than fifty percent (50%) of such units may be targeted for sale to households earning 120% of the ECMFI.The Town will administer all Community Housing Units in accordance with the Community Housing Policies. Maximum rents and income limits shall be determined by (i) the most recent Colorado Housing and Finance Administration Income Limits and Maximum Rent Tables for Eagle County; or (ii) a separate agreement or deed restriction between a Landowner and the Town for a 1650530.6 62 2985509.10 ATTACHMENT B particular Site, in which case said Dwelling Units shall count toward Master Landowner’s Community Housing Unit obligation set forth in this Section I.15. (e)For-sale units shall be deed restricted to require the following:Community Housing Units may be for-sale or for-rent. (i)The sale of units shall be restricted to “Qualified Buyers,” defined as follows:For-Sale Community Housing Units. (1)Unless agreed to by the Town and Master Landowner by separate agreement, for-sale Community Housing Units shall be restricted to (a) households earning up to 140% of the Area Median Income (or such higher Area Median Income as may be set forth in Section 7.20.100 of the Development Code or the Community Housing Policies), with household income calculated as a four-person household for all households, or (b) Qualified Employers (as such term is defined in the Community Housing Policies) in accordance with the Community Housing Policies. (2)For-sale Community Housing Units shall be subject to the Community Housing Unit deed restrictions in the form set forth in Appendix A of the Community Housing Policies or in a form approved by Town Council. (1)An owner who occupies the unit as his or her primary place of residence; (2)An owner who is a full time employee working at least thirty hours per week in the Town or Eagle County, or a retired person who has been a full time employee in the Town or Eagle County a minimum of four years immediately prior to his or her retirement, or a person having a medical disability who has been a full time employee in the Town or Eagle County a minimum of two years immediately prior to his or her determination of disability, or the spouse or dependent of any such persons who resides with them; (3)An owner whose household income does not exceed 120 percent of the ECMFI; and (4)An owner whose total current family net assets are not in excess of $225,000.00 ($337,500.00 for a retired person) or whose total current family net assets have not been in excess of $225,000 ($337,500 for a retired person) during the two years preceding if the same were transferred or disposed of to confer eligibility hereunder. The foregoing limitations shall annually be adjusted for inflation on the basis of the applicable Consumer Price Index (the “CPI”). For purposes of this subparagraph (4), the CPI shall mean Series ID: CUUSA433SA0 (All Urban Consumers; Not Seasonally Adjusted; Denver-Boulder-Greeley, CO; All items; Base Period 1982-84=100; 1st half of 1998 = 160.5). 1650530.6 63 2985509.10 ATTACHMENT B (ii)An annual price appreciation cap of 3%, or such higher percentage as the Town Council may approve from time to time, will be establishedFor-Rent Community Housing Units. (1)Unless agreed to by the Town and Master Landowner by separate agreement, for-rent Community Housing Units shall be restricted to households earning up to 120% of the Area Median Income (or such higher Area Median Income as may be set forth in Section 7.20.100 of the Development Code or the Community Housing Policies), with the maximum rent per bedroom of a Community Housing Unit not to exceed the rent applicable to 120% of the Area Median Income divided by the number of bedrooms in the Community Housing Unit. (iii)If and when an owner moves out of his or her unit, he or she will be required to sell his or her unit to Master Developer (which unit shall be resold or rented by Master Developer in accordance with this deed restriction) or a Qualified Buyer. (iv)The rental units will be targeted to households earning between 50% - 80% of the ECMFI. Rents shall not exceed 30% of the tenant’s monthly income, adjusted for household size, including utilities, for which allowances are determined annually by the Colorado Housing Finance Agency. (v)Capital improvements to a for-sale unit may be made up to ten percent (10%) of the original purchase price of the unit every ten (10) years. No restrictions on capital improvements shall be placed on rental units. (vi)In addition to the annual price appreciation, real estate commissions not to exceed three percent (3%) and closing costs shall be allowed for re-sales of for-sale units after the initial sales of such for-sale units by the Master Developer. (vii)First time home buyers shall be exempt from Real Estate Transfer Fees as set forth in the Development Agreement. (f)In accordance with the terms of the Original PUD, a minimum of 100 affordable housing units were constructed in conjunction with the initial phase of commercial and/or residential construction within the Project. The timing of the construction of the remaining affordable housing units by Master Developer (or Master Developer’s designee)shall be as described in Sections I.15(a) and I.15(b).Notwithstanding anything to the contrary herein, up to 85 of the Remaining Community Housing Units still to be provided as of the Effective Date may be resident-occupied Community Housing Units (either for sale or for rent) without regard to the Area Median Income level, subject to Master Landowner’s approval. If the Town and Master Landowner both approve, then more than 85 of the Remaining Community Housing Units may be provided within the Property as resident-occupied Community 1650530.6 64 2985509.10 ATTACHMENT B Housing Units (either for sale or for rent) without regard to the Area Median Income level. (g)Notwithstanding anything in the Community Housing Plan to the contrary, the Town may lease up to two Community Housing Units within Planning Area CH-2 to Town employees without regard to the Area Median Income level and at any rental amount, so long as each lease (inclusive of any extension or renewal thereof) does not exceed a period of 14 months. 16.Provision of Certain Amenities.. (a)Community Park (Planning Area P3). (i)Construction of the initial fifty percent (50%) of the community park shall be commenced prior to the date that the Town’s obligation arises to issue a certificate of occupancy for the Dwelling Unit constituting the 601st Dwelling Unit within the Property that otherwise is eligible to receive a certificate of occupancy. (ii)Construction of the second fifty percent (50%) of the community park shall be commenced prior to the date that the Town’s obligation arises to issue a certificate of occupancy for the Dwelling Unit constituting the 1200th Dwelling Unit within the Property that otherwise is eligible to receive a certificate of occupancy. (iii)Once commenced, construction of the improvements contemplated in (i) and (ii) above shall be prosecuted with due diligence in accordance with sound construction practices. (b)Pocket Parks (Planning Areas P1 and P2). (i)As of the Effective Date, the Master Developer and the Developer AffiliatesLandowner and the Affiliated Landowners have fully satisfied all obligations with respect to provision of a pocket park within Planning Area P2. (ii)The Master Developer and/or Developer AffiliatesLandowner and/or Affiliated Landowners shall dedicate to the Town a pocket park generally comprising Planning Area P1 contemporaneously with the Town’s approval of the first Final Plat within Planning Area C, provided that any and all improvements to and within Planning Area P1 shall be the sole responsibility of the Town. (c)Additional Parkland Dedication. As and when set forth in Section 3.7(d) of the Development Agreement, Master DeveloperLandowner and/or the Developer AffiliatesAffiliated Landowners shall dedicate certain additional parkland to the Town comprising 5.8 acres in the aggregate within Planning Areas K, J and I; provided however, Master DeveloperLandowner and/or the Developer AffiliatesAffiliated Landowners may, in their sole discretion, dedicate any or all of such additional parkland in Planning Areas A, C and/or D, which dedicated parkland may be adjacent to Planning 1650530.6 65 2985509.10 ATTACHMENT B Area P1 resulting in the enlargement or widening of Planning Area P1. Unless waived by the Director, such parkland shall comply with the following minimum requirements: (i)Minimum one-quarter (1/4) acre in size; (ii)Centrally located within, adjacent or to neighborhoods served; (iii)Sited to provide for public surveillance from adjacent or nearby streets; (iv)Accessible from the surrounding neighborhoods by sidewalks and/or trails; and (v)Unless dedicated for linear park purposes (i.e., multi-use trails, bikepaths, etc.), at least fifty percent (50%) of the dedicated parkland shall be well-drained and level. (d)Planning Area B. (i)Contemporaneously withPrior to the Effective Date and as contemplated by the Settlement Term Sheet, the Town has approved a Final Plat for Planning Area B and Traer Creek-RP hasCreek-RP executed and delivered to the Town a special warranty deed for the purpose of conveying to the Town fee simple ownership of Planning Area B, subject to the terms and conditions set forth in the special warranty deed and further subject to compliance with all applicable terms, conditions, regulations and requirements of this PUD Guide and the Design Covenant. (ii)At such time as the Town determines desirable, the Town shall be responsible for the cost of all design, construction, operation and maintenance of improvements within or upon Planning Area B. All such Uses and improvements within or upon Planning Area B shall be subject to review and written approval of the Design Review Board. (iii)As and when Master DeveloperLandowner determines it to be necessary or desirable in connection with development within Planning Areas that abut or are adjacent to Planning Areas B and upon submittal of an Application for such purposes, the boundaries of Planning Area B shall be modified pursuant to the administrative platting procedures set forth in Section G of this PUD Guide, subject to the following conditions: (1)The Town has not previously constructed improvements within or upon Planning Area B that make such modifications impossible or that would cause such modifications to unreasonably interfere with the Town’s operation and use of such previously constructed improvements; 1650530.6 66 2985509.10 ATTACHMENT B (2)Such modifications shall not result in a reduction in the aggregate acreage of Planning Area B without the Town’s written consent; (3)Concurrently with recording such Final Plat, the Town and the Applicant(s) shall exchange special warranty deeds conveying the applicable modified areas to the appropriate grantee, subject to matters of record and deed restrictions, if any, reasonably acceptable to the applicable grantee; and, (4)Such modifications may be accomplished as part of ana Final Plat that establishes Lots or Blocks with respect to the adjacent or abutting Planning Area(s), in the discretion of the Applicant. 1650530.6 67 2985509.10 ATTACHMENT B EXHIBIT A Legal Description Exhibit A- Page 1 1650530.6 2985509.10 ATTACHMENT B WEST PARCEL Lot 1, Lot 2, Lot 3, Lot 4, Lot 5, Tract A, Tract B, Tract C, Tract D, Tract E, Tract F, Tract G and Tract H The Village (at Avon) Filing 2 according to the Final Plat of The Village (at Avon) Filing 2 recorded on May 28, 2002 at Reception No. 796831. STOLPORT Exhibit A- Page 2 1650530.6 2985509.10 ATTACHMENT B Exhibit A- Page 3 1650530.6 2985509.10 ATTACHMENT B Lot 2, Lot 3, Lot 4, Tract B and Tract E The Village (at Avon) Filing 1 According to the Final Plat The Village (at Avon) Filing 1 recorded on May 8, 2002 at Reception No. 795009. Lot 5, Lot 6, Tract A, Tract C, Tract D, Tract F and Tract G The Village (at Avon) Filing1 According to the Amended Final Plat The Village (at Avon) Filing 1 recorded November 18, 2004 at Reception No. 898173 Lot 2 and Lot 3 Amended Final Plat, The Village (at Avon) Filing 1 - A Resubdivision of Lot 1 According to the Second Amended Final Plat – Amended Final Plat, The Village (at Avon) Filing 1- A Resubdivision of Lot 1 recorded August 1, 2014 at Reception No. 201412782. Lot 7, Lot 8 and Tract H Amended Final Plat, The Village (at Avon) Filing 1 - A Resubdivision of Lot 1 According to the Third Amended Final Plat – Amended Final Plat, The Village (at Avon) Filing 1 - A Resubdivision of Lot 1 recorded August 15, 2019 at Reception No. 201913092. Lot 1, Lot 9, Tract H-1, Tract I and Tract F-1 Amended Final Plat, The Village (at Avon) Filing 1 - A Resubdivision of Lot 1 According to the Fourth Amended Final Plat – Amended Final Plat, The Village (at Avon) Filing 1 - A Resubdivision of Lot 1 recorded March 13, 2024 at Reception No. 202402670. Exhibit A- Page 4 1650530.6 2985509.10 ATTACHMENT B Town of Avon Eagle County, Colorado SOUTH PARCEL A (North of Railroad right-of-way) That part of the NE 1/4 of Section 17, Township 5 South, Range 81 West of the Sixth Principal Meridian, Eagle County, Colorado, according to the Dependent Resurvey of said Township and Range, accepted November 1, 1943 by the Department of the Interior General Land Office in Washington, D.C., lying north of the Denver & Rio Grande Western Railroad right-of-way line, described as follows: Beginning at the N 1/4 corner of said Section 17; thence S89°23'36"E 526.76 feet, along the northerly line of said NE 1/4 of Section 17, to the northerly right-of-way line of the Denver & Rio Grande Western Railroad; thence, departing said northerly line of Section 17, the following two courses along the northerly right-of-way line of the Denver & Rio Grande Western Railroad, said northerly right-of-way line being parallel with and 50 feet northerly of the centerline of the existing railroad tracks: (1) S80°36'27"W 267.66 feet; (2) 263.93 feet along the arc of a curve to the right, having a radius of Exhibit A- Page 5 1650530.6 2985509.10 ATTACHMENT B 2486.03 feet, a central angle of 06°04'58", and a chord which bears S83°38'57"W 263.81 feet, to the westerly line of said NE 1/4 of Section 17; thence N00°20'55"W 78.44 feet, along said westerly line, to the point of beginning containing 0.53 acres, more or less. SOUTH PARCEL B (South of Railroad right-of-way) That part of the NE 1/4 of Section 17, Township 5 South, Range 81 West of the Sixth Principal Meridian, Eagle County, Colorado, according to the Dependent Resurvey of said Township and Range, accepted November 1, 1943 by the Department of the Interior General Land Office in Washington, D.C., lying south of the Denver & Rio Grande Western Railroad right-of-way line and north of the centerline of the Eagle River, described as follows: Beginning at the Northeast corner of said Section 17; thence S01°41'49"E 96.93 feet, along the easterly line of said Section 17, to the True Point of Beginning; thence, continuing along said easterly line, S01°41'49"E 73.07 feet, to the centerline of said Eagle River; thence the following four courses along said centerline (Filum aquce): (1) N89°24'49"W 1037.9 feet; (2) N86°07'49"W 472.00 feet; (3) N89°29'49"W 538.00 feet; (4) S82°33'11"W 595.15 feet, to the westerly line of said NE 1/4; thence N00°20'55"W 49.18 feet, along said westerly line to the southerly right-of-way line of the Denver & Rio Grande Western Railroad; thence, departing said westerly line of Section 17, the following five courses along the southerly right-of-way line of the Denver & Rio Grande Western Railroad, said southerly right-of-way line being parallel with and 50 feet southerly of the centerline of the existing railroad tracks: (1) 279.72 feet along the arc of a curve to the left, having a radius of 2586.03 feet, a central angle of 06°11'51", and a chord which bears N83°42'23"E 279.58 feet; (2) N80°36'27"E 350.86 feet; (3) 686.44 feet along the arc of a curve to the right, having a radius of 3171.27 feet, a central angle of 12°24'07", and a chord which bears N86°48'31"E 685.10 feet; (4) S86°59'25"E 1216.38 feet; (5) 112.54 feet along the arc of a curve to the right, having a radius of 2549.33 feet, a central angle of 02°31'46". and a chord which bears S85°43'31"E 112.53 feet, to the True Point of Beginning, containing 5.28 acres, more or less. TRACT M Those parts of Sections 8 and 9, Township 5 South, Range 81 West of the Sixth Principal Meridian, Eagle County, Colorado, according to the Dependent Resurvey of said Township and Range, accepted November 1, 1943, by the Department of the Interior General Land Office in Washington, D.C., described as a whole as follows: Beginning at the W 1/16 corner of said Section 9 and Section 16 of said Township and Range; thence N89°55'04"W 1371.96 feet, along the southerly line of said SW 1/4 SW 1/4 to the Section corner of said Sections 8, 9, and 16 and Section 17 of said Township and Range; thence N01°32'00"E 3.82 feet, along the westerly line of said Section 9, to the northerly right-of-way line of the Denver & Rio Grande Western Railroad, said northerly right-of-way line being parallel with and 50 feet northerly of the centerline of the existing railroad tracks; thence the following two courses along said northerly right-of-way line: (1) 104.48 feet along the arc of a curve to the left, having a radius of 2649.33 feet, a central angle of 02°15'34", and a chord which bears N85°51'36"W 104.47 feet; (2) N86°59'25"W 1213.28 feet, to the westerly line of the SE 1/4 SE 1/4 of said Section 8; thence N00°51'07"E 717.58 feet, along said westerly line; thence, departing said westerly line, S89°55'04"E 2698.45 feet, to the easterly line of the SW 1/4 SW 1/4 of said Section 9, thence, along said easterly line, S01°33'13"W 790.94 feet, to the point of beginning, containing 47.70 acres, more or less. REVISED EAST PARCEL (Minus Tract M) Exhibit A- Page 6 1650530.6 2985509.10 ATTACHMENT B Those parts of Sections 7, 8, 9 & 10, Township 5 South, Range 81 West of the Sixth Principal Meridian, Eagle County, Colorado, according to the Dependent Resurvey of said Township and Range, accepted November 1, 1943 by the Department of the Interior General Land Office in Washington, D.C., described as a whole as follows: Beginning at the Northwest corner of said Section 8; thence the following four courses along the northerly line of said Section 8: (1) N88°40'41"E 1379.49 feet, to the W 1/16 corner of said Section 8 and Section 5 of said Township and Range; (2) N88°40'41"E 1379.49 feet, to the 1/4 corner of said Sections 8 and 5; (3) N88°42'58"E 1385.36 feet, to the E 1/16 corner of said Sections 8 and 5; (4) N88°42'58"E 1385.36 feet, to the corner of said Sections 5, 8 and 9 and Section 4 of said Township and Range; thence the following four courses along the northerly line of said Section 9: (1) N83°29'30"E 1386.63 feet, to the W 1/16 corner of said Sections 9 and 4; (2) N83°29'30"E 1386.64 feet, to the 1/4 corner of said Sections 9 and 4; (3) N83°24'12"E 1386.30 feet, to the E 1/16 corner of said Sections 9 and 4; (4) N83°24'12"E 1386.30 feet, to the corner of said Sections 4, 9 and 10 and Section 3 of said Township and Range; thence the following two courses along the northerly line of said Section 10: (1) N86°39'24"E 1381.29 feet, to the W 1/16 corner of said Sections 10 and 3; (2) N86°39'24"E 1299.94 feet; thence, departing said northerly line, S01°34'07"W 2699.66 feet, to the east-west centerline of said Section 10; thence, along said east-west centerline, S86°32'23"W 1304.06 feet, to the W 1/16 corner of said Section 10; thence S01°32'50"W 1349.33 feet, along the easterly line of the NW 1/4 SW 1/4 of said Section 10, to the SW 1/16 corner of said Section 10; thence S86°32'47"W 1384.91 feet, along the southerly line of said NW 1/4 SW 1/4, to the S 1/16 corner of said Sections 10 and 9; thence S77°10'15"W 1413.37 feet, along the southerly line of the NE 1/4 SE 1/4 of said Section 9, to the SE 1/16 corner of said Section 9; thence S01°33'02"W 1475.32 feet, along the easterly line of the SW 1/4 SE 1/4 of said Section 9, to the E 1/16 corner of said Section 9 and Section 16 of said Township and Range; thence S72°20'31"W 1450.43 feet, along the southerly line of said SW 1/4 SE 1/4, to the 1/4 corner of said Sections 9 and 16; thence N01°34'18"E 1601.52 feet, to the CS 1/16 corner of said Section 9; thence S86°07'30"W 1378.19 feet, along the southerly line of the NE 1/4 SW 1/4 of said Section 9, to the SW 1/16 corner of said Section 9; thence S01°33'13"W 715.42 feet, along the easterly line of the SW 1/4 SW 1/4 of said Section 9; thence, departing said easterly line, N89°55'04"W 2698.45 feet, to the westerly line of the SE 1/4 SE 1/4 of said Section 8; thence N00°51'07"E 620.19 feet, along said westerly line, to the SE 1/16 corner of said Section 8; thence N89°54'54"W 1333.58 feet, along the southerly line of the NW 1/4 SE 1/4 of said Section 8, to the CS 1/16 corner of said Section 8; thence N89°58'35"W 1366.46 feet, along the southerly line of the NE 1/4 SW 1/4 of said Section 8, to the SW 1/16 corner of said Section 8; thence S00°01'37"E 919.47 feet, along the easterly line of the SW 1/4 SW 1/4 of said Section 8, to the northerly right-of-way line of Interstate Highway No. 70, as described in the deed recorded in Book 223 at Page 982 in the office of the Eagle County, Colorado, Clerk and Recorder; thence the following ten courses along said northerly right-of-way line: (1) N65°30'20"W 249.79 feet; (2) N78°47'50"W 317.2 feet; (3) N83°08'20"W 506.7 feet; (4) 772.2 feet along the arc of a curve to the right, having a radius of 1462.0 feet, a central angle of 30°15'52", and a chord which bears N54°57'56"W 763.3 feet; (5) N34°37'50"W 331.1 feet; (6) N34°44'20"W 368.5 feet; (7) 804.9 feet along the arc of a curve to the left, having a radius of 1812.0 feet, a central angle of 25°27'04", and a chord which bears N51°29'50"W 798.3 feet; (8) N68°24'50"W 399.7 feet; (9) N49°47'20"W 213.6 feet; (10) N70°20'50"W 765.1 feet, to the northerly line of the SE 1/4 of said Section 7; thence the following two courses along said northerly line: (1) N89°50'40"E 1194.46 feet, to the CE 1/16 corner of said Section 7; (2) N89°50'40"E 1378.25 feet, to the 1/4 corner of said Sections 7 and 8; thence the following two courses along the westerly line of said Section 8: (1) N00°10'53"W 1369.09 feet, to the S 1/16 corner of said Sections 7 and 8; thence N00°10'53"W 1369.10 feet, to the point of beginning, containing 1421.24 acres, more or less. Exhibit A- Page 7 1650530.6 2985509.10 ATTACHMENT B A PORTION OF WHICH “REVISED EAST PARCEL (Minus Tract M)” HAS BEEN PLATTED AND/OR REPLATTED AS: Tract A, Tract D, Tract E and Tract G The Village (at Avon) Filing 3 According to the Final Plat The Village (at Avon) Filing 3 recorded on June 29, 2004 at Reception No. 882176. Tract F The Village (at Avon) Filing 3 – A Reconfiguration of Tracts B and F According to the Amended Final Plat The Village (at Avon) Filing 3– A Reconfiguration of Tracts B and F recorded on May 9, 2007 at Reception No. 200712166. Block 2, Block 3, Block 4, Tract H-1, Tract H-2, Tract H-3, Tract I-1, Tract I-2, Tract I-3, Tract I-4 and Road A Avon Landing, a Replat of Tract H - The Village (at Avon) Filing No. 3 According to the Final Plat Avon Landing, a Replat of Tract H - The Village (at Avon) Filing No. 3 recorded on September 3, 2015 at Reception No. 201516730. Tract I and Tract J The Village (at Avon) Filing 4 According to the Final Plat The Village (at Avon) Filing 4 recorded on March 27, 2015 at Reception No. 201505284. Tract B and Tract I Amended Final Plat Tracts B and I, The Village (at Avon) Filing 3, Second Amended Final Plat a Resubdivision of Tract B recorded on May 20, 2022, at Reception No. 202209167. Lot 1 and Lot 2, Outlot A and Outlot B Amended Final Plat, Stolport Station, A Replat of Block 1, Avon Landing, A Replat of Tract H, The Village (at Avon) Filing 3 recorded on November 5, 2021, at Reception No. 202125052. LESS AND EXCEPTING FROM THE ABOVE DESCRIBED REVISED EAST PARCEL (minus Tract M): Parcel Number: 1 as conveyed to the Department of Transportation, State of Colorado by Special Warranty Deed dated September 26, 2003, recorded October 6, 2003, at Reception No. 852794, which Parcel Number: 1 is depicted on the Final Plat, The Village (at Avon) Filing 3, recorded on June 29, 2004, at Reception No. 882176, which Parcel Number: 1 is noted on such plat as Tract C, NOT A PART OF THIS PLAT, 6.732 ACRES. Exhibit A- Page 8 1650530.6 2985509.10 ATTACHMENT B EXHIBIT B PUD Master Plan[Follows This Page] Exhibit B- Page 1 1650530.6 2985509.10 ATTACHMENT B Exhibit B- Page 1 1650530.6 2985509.10 ATTACHMENT B Exhibit B Page B-2 2985509.10 ATTACHMENT B Exhibit B- Page 2 1650530.6 2985509.10 ATTACHMENT B EXHIBIT C The Village (at Avon) Parking Regulations A.Relationship to Municipal Code and Development Code. Parking within The Village (at Avon) PUD shall be in conformance with these Off Street Parking Regulations, which shall be the sole and exclusive parking regulations applicable within The Village (at Avon) PUD and which expressly supersede any parking regulations set forth in the Municipal Code or the Development Code, including without limitation, any additional or conflicting such provisions, Exhibit C- Page 1 1650530.6 2985509.10 ATTACHMENT B Exhibit C- Page 2 1650530.6 2985509.10 1 space Single-family or duplex All others 2 spaces / unit 2 spaces 1.Residential Land Use MINIMUM REQUIREMENTS Per accommodation unit including lockoffs: 3 spaces / unit for units over and no such provisions of the Municipal Code or Development Code apply to The Village (at Avon) PUD even if not otherwise addressed in these Off Street Parking Regulations or any other part of The Village (at Avon) PUD. Notwithstanding the foregoing, if subsequent to the Effective Date, the Town amends from time to time the parking regulations set forth in the Municipal Code or the Development Code, the Master Landowner, in its sole discretion, may consider amendment of this PUD Guide to incorporate such amended provisions herein, which amendment(s), if any, shall be processed in accordance with the administrative amendment procedure set forth in Section H.3. B.Parking Table. All required parking shall be provided in accordance with the parking requirements as set forth in the parking table or as otherwise allowed by these regulations. One bedroom 1 space Over one bedroom 2,500 sq. ft. not including garage 1 space plus ½ space for each additional bedroom in excess of one Guest parking spaces: Multifamily building and townhouses Multifamily and townhouses (includes Short Term Rentals) 3 - - 5 units 2 spaces Studio 5 - - 10 units 1 space 3 spaces Per dwelling Unit: 11 - - 15 units 4 spaces One bedroom 16 - - 20 units 1-1/2 spaces 5 spaces TYPE OF LAND USE 21 - - 25 units 6 spaces Per Short Term Rental ATTACHMENT B Exhibit C- Page 3 1650530.6 2985509.10 ATTACHMENT B Exhibit C- Page 4 1650530.6 2985509.10 ATTACHMENT B Exhibit C- Page 5 1650530.6 2985509.10 ATTACHMENT B Exhibit C- Page 6 1650530.6 2985509.10 ATTACHMENT B Exhibit C- Page 7 1650530.6 2985509.10 ATTACHMENT B Exhibit C- Page 8 1650530.6 2985509.10 ATTACHMENT B Exhibit C- Page 9 1650530.6 2985509.10 ATTACHMENT B Exhibit C- Page 10 1650530.6 2985509.10 ATTACHMENT B F.Supplemental Parking Regulations for Planning Area CH-2 Community Housing Units. The following provisions apply only to Community Housing Units in Planning Area CH-2: 1.Parking Enforcement. As part of the Applicant’s submittal to the Design Review Board for any Building containing Community Housing Units, the Applicant must include a parking enforcement plan detailing the Applicant’s proposed parking program for future residents and guests and enforcement measures to ensure such residents and guests do not park off-site, and the Design Review Board and Master Landowner must review and approve such parking plan prior to the Town’s issuance of any building permits. 2.Lease Provisions. All leases for Community Housing Units must contain an express provision stating that residents and their guests may only utilize the parking provided for such use within Planning Area CH-2. Any off-site parking by residents or their guests will constitute a default under their lease. 3.Fencing. As part of the Applicant’s submittal to the Design Review Board for any Building containing Community Housing Units, the Applicant must include plans for fencing along the boundary between Planning Area CH-2 and Lot 4, The Village (at Avon), Filing 1, recorded in the real property records of Eagle County, Colorado on May 8, 2022 at Reception No. 795007. The Applicant will install such fencing approved by the Design Review Board before applying for a certificate of occupancy for such Buildings from the Town. Exhibit C- Page 11 1650530.6 2985509.10 ATTACHMENT B EXHIBIT D Wildlife Mitigation Plan Exhibit D- Page 1 1650530.6 2985509.10 ATTACHMENT B Exhibit D- Page 2 1650530.6 2985509.10 ATTACHMENT B Exhibit D- Page 3 1650530.6 2985509.10 ATTACHMENT B Exhibit D- Page 4 1650530.6 2985509.10 ATTACHMENT B Exhibit D- Page 5 1650530.6 2985509.10 ATTACHMENT B Exhibit D- Page 6 1650530.6 2985509.10 ATTACHMENT B Exhibit D- Page 7 1650530.6 2985509.10 ATTACHMENT B Exhibit D- Page 8 1650530.6 2985509.10 ATTACHMENT B Exhibit D- Page 9 1650530.6 2985509.10 ATTACHMENT B Exhibit D- Page 10 1650530.6 2985509.10 ATTACHMENT B Exhibit D- Page 11 1650530.6 2985509.10 ATTACHMENT B Exhibit D- Page 12 1650530.6 2985509.10 ATTACHMENT B Exhibit D- Page 13 1650530.6 2985509.10 ATTACHMENT B Exhibit D- Page 14 1650530.6 2985509.10 ATTACHMENT B EXHIBIT E Minimum Design Guideline Standards Exhibit E- Page 1 1650530.6 2985509.10 ATTACHMENT B Exhibit E- Page 2 1650530.6 2985509.10 ATTACHMENT B Exhibit E- Page 3 1650530.6 2985509.10 ATTACHMENT B Exhibit E- Page 4 1650530.6 2985509.10 ATTACHMENT B Exhibit E- Page 5 1650530.6 2985509.10 ATTACHMENT B Exhibit E- Page 6 1650530.6 2985509.10 ATTACHMENT B Exhibit E- Page 7 1650530.6 2985509.10 ATTACHMENT B Exhibit E- Page 8 1650530.6 2985509.10 ATTACHMENT B Exhibit E- Page 9 1650530.6 2985509.10 ATTACHMENT B Exhibit E- Page 10 1650530.6 2985509.10 ATTACHMENT B Exhibit E- Page 11 1650530.6 2985509.10 ATTACHMENT B Exhibit E- Page 12 1650530.6 2985509.10 ATTACHMENT B Exhibit E- Page 13 1650530.6 2985509.10 ATTACHMENT B Exhibit E- Page 14 1650530.6 2985509.10 ATTACHMENT B Exhibit E- Page 15 1650530.6 2985509.10 ATTACHMENT B Exhibit E- Page 16 1650530.6 2985509.10 ATTACHMENT B Exhibit E- Page 17 1650530.6 2985509.10 ATTACHMENT B Exhibit E- Page 18 1650530.6 2985509.10 ATTACHMENT B Exhibit E- Page 19 1650530.6 2985509.10 ATTACHMENT B Exhibit E- Page 20 1650530.6 2985509.10 ATTACHMENT B Exhibit E- Page 21 1650530.6 2985509.10 ATTACHMENT B EXHIBIT F Street StandardsA.Street Design and Improvement Standards. Development within The Village (at Avon) shall comply with the street design and improvement standards contained within Sections 7.28 and 7.32 of the Development Code, as modified by the standards set forth in this Exhibit F. 1.Street Descriptions and Types. (ia)Post Boulevard (constructed): this Urban Arterial Road extends south from Swift Gulch Road (constructed) to US 6 and has an interchange with I-70-70. Curb, gutter, and attached sidewalks are provided along both sides of the roadway, and on the eastern side only between Fawcett Rd. and Yoder Ave., within an 84’ -- 100’ R.O.W. The posted speed limit on Post Boulevard is 30 MPH, changing to 35 MPH at the north end. (iib)Yoder Avenue (constructed): this Urban Collector Cul-de-sac Road extends east from Post Boulevard (constructed) to the Cul-de-sac. Curb, gutter, and attached sidewalks are provided along both sides of the roadway, and on the south side only from Fawcett Rd. to the cul-de-sac, within a 60’ R.O.W. A center turn lane is provided. The posted speed limit is 25 MPH. (iiic)Fawcett Road (constructed): this Urban Collector Road extends between Post Boulevard (constructed) and Yoder Avenue (constructed). Curb, gutter, and sidewalk are provided along both sides of the roadway, and along the western side only from the Wal-Mart entry to Yoder Ave.,with-inwithin a 60’ – 71’ R.O.W. A center turn lane is provided. The posted speed limit is 25 MPH. (ivd)East Beaver Creek Boulevard (temporary): this Rural Local Road extends from Avon Road to Post Boulevard (constructed). The posted speed limit of 30 MPH. (ve)Swift Gulch Road (constructed): this Rural Local Road extends from Avon Road to Post Boulevard (constructed). An 8’ wide multi-use trail exists within the varying width R.O.W. (vif)East Beaver Creek Boulevard (conceptual): this Urban Local Road extends from Avon Road at the western edge of Lot 1, to Post Boulevard (constructed). Curb, gutter, and sidewalk shall be provided along the roadway, within a 50’ (min.) R.O.W. as generally depicted on the conceptual illustration attached as a part of this Exhibit F (illustration 7 or 8). (viig)Main Street (conceptual): this Urban Local Road extends from the western edge of Lot 1 at Chapel Place to the roundabout at Post Boulevard (constructed). Curb, gutter, and sidewalk shall be provided along the roadway, as generally depicted on the conceptual illustration attached as a part of this Exhibit F (for the central segment; illustration 2, 3 or 4; for the western segment illustration 5 or 6, for the eastern segment illustration 15, 16 or 17). The conceptual illustrations for the eastern segments are Exhibit F- Page 1 1650530.6 2985509.10 ATTACHMENT B intended to illustrate possible scenarios for the width of the R.O.W. and associated improvements (i.e., sidewalks, landscape buffers, bike lanes, etc.). The R.O.W. as designed and constructed may vary from such illustrations relating to, among other factors, the location of such segment and the character of the development adjacent thereto. By way of example but not limitation, sidewalks on both sides of the travel lanes may not be necessary in certain locations, on-street parking may not be desirable in certain locations and center turn lanes may or may not be necessary in certain locations. (viiih)Swift Gulch Road (conceptual): this Rural Local Road extends east from the roundabout at Post Blvd. (constructed) through Planning Area J, the United States Forest Service parcel, to Planning Area I. Paved shoulders, and either a bike lane or a multi-usemulti-use trail shall be provided within a 50’ (min.) R.O.W. as generally depicted on the conceptual illustration attached as a part of this Exhibit F (illustration 10, 11, or 12). The bike lane or multi-usemulti-use trail, or applicable phase thereof, shall be provided in connection with and contemporaneously with the construction of Swift Gulch Road, or applicable phase thereof. (ixi)Road A (conceptual): this Urban Local Road extends from East Beaver Creek Blvd. (conceptual) to Main Street (conceptual). Curb, gutter, and sidewalk shall be provided along both sides of the roadway, within a 50’ (min.) R.O.W. as generally depicted on the conceptual illustration attached as a part of this Exhibit F (illustration 5 or 6). (xj)Road B (conceptual): this Urban Local Road extends from the western roundabout of Main Street (conceptual) to the eastern roundabout of Main Street (conceptual). Curb, gutter, and sidewalk shall be provided along one side of the road, within a 50’ (min.) R.O.W. as generally depicted on the conceptual illustration attached as a part of this Exhibit F (illustration 5, 6, or 9). (1i)At the option of the applicant this may be designated as a one-way street. (xik)Road C (conceptual): this Urban Local Cul-de-sacCul-de-sac Road extends north from the eastern roundabout of Main Street (conceptual) to the cul-de-saccul-de-sac. Curb, gutter, and sidewalk shall be provided along both sides of the road, within a 50’ (min.) R.O.W. as generally depicted on the conceptual illustration attached as a part of this Exhibit F (illustration 5 or 6). (xiil)Road D (conceptual): this Rural Local Cul-de-sacCul-de-sac Road extends east from East Beaver Creek Blvd. (conceptual) to the cul-de-sac. Hard shoulders and a pedestrian path (attached or separated) shall be provided, within a 50’ (min.) R.O.W. as generally depicted on the conceptual illustration attached as a part of this Exhibit F (illustration 10 or 12). (xiiim)Road E (conceptual):this Rural Local Cul-de-sac Road extends north and east from the roundabout at Post Blvd. (constructed) and Swift Gulch Rd. (constructed) to the cul-de-saccul-de-sac. paved shoulders shall be provided, within a 50’ (min.) R.O.W. Exhibit F- Page 2 1650530.6 2985509.10 ATTACHMENT B as generally depicted on the conceptual illustration attached as a part of this Exhibit F (illustration 10 or 12 for that section of the road below RMF-1-1, and illustration 10 for that section of road above RMF-1-1). (xivn)Spur Roads F-NF-N (conceptual): these Rural Local Cul-de-sacCul-de-sac Roads extend from Road E (conceptual) to their cul-de-sacscul-de-sacs. Paved shoulders shall be provided, within a 50’ (min.) R.O.W. as generally depicted on the conceptual illustration attached as a part of this Exhibit F (illustration 10). (xvo)Roads located within Planning Areas I, K, and RMF-1-1 (conceptual): Any additional roads not currently designated shall be Rural Local Roads with paved shoulders within a 50’ (min.) R.O.W. as generally depicted on the conceptual illustration attached as a part of this Exhibit F (illustration 10 or 12). 2.Bus stop locations may be provided within certain portions of the eastern segments of Main Street and/or East Beaver Creek Boulevard as depicted on the conceptual illustration attached as a part of this Exhibit F (illustration 18); provided however, such locations and designs as depicted are conceptual in nature and non-binding, and the location and design of such bus stops, if any, shall be established in connection with the design of the applicable R.O.W. segment, and shall be based on various site specific features such as the topography, grade, traffic engineering considerations and similar matters. 3.The engineering, installation and construction of any road within The Village (at Avon) may, at the discretion of the Applicant, be phased. Only the portion of a road that is necessary to serve the property that is the subject of the applicable Application shall be required to be engineered, installed and constructed in connection with the development of such property; provided, however, if any such road is depicted on the PUD Master Plan to extend and continue further than such phase, the Applicant shall submit Preliminary Engineering for the extended road as a part of its Application in accordance with Section A.4(g) of the PUD Guide. 4.Modifications to Street Standards. (a)Minimum Driving Surface: 22 feet (i)Except, those lots within PA-KPA-K, above RMF-1-1, which are limited to 20 feet per Exhibit D, Wildlife Mitigation Plan. (b)Minimum Shoulder: 2 feet each side, paved (i)Shoulders shall not be required if curb and gutter are installed. Median areas shall not require a sidewalk and, if curb and gutter is installed, shall not require a shoulder. (c)Design Speed: 30 MPH except as listed below Exhibit F- Page 3 1650530.6 2985509.10 ATTACHMENT B (i) Post Boulevard (constructed): 35 MPH (ii)East Beaver Creek Boulevard (temporary): 35 MPH (iii)Spur roads F – N (conceptual): 25MPH25 MPH (d)Maximum Grade: 6% except as listed below (i)East Beaver Creek Blvd.: 8%, provided that: (1)the grade is not maintained for a distance in excess of 500 feet; and (2)no spur roads or driveways will have access points during the run of 8%; provided, however, reduction of the grade to 6% at a spur road or driveway access points and thereafter returning the grade to 8% shall be permitted. (ii)Swift Gulch Road (conceptual): 10%, provided that: (1)the grade is not maintained for a distance in excess of 800 feet; and (2)no spur roads or driveways will have access points during the run of 10%; provided, however, reduction of the grade to 8% at a spur road or driveway access points and thereafter returning the grade to 10% shall be permitted. (iii)Spur Road F (conceptual): 10% (iv)Road E (conceptual): 10%, provided that: (1)the grade is not maintained for a distance in excess of 800 feet; and (2)no spur roads or driveways will have access points during the run of 10%; provided, however, reduction of the grade to 8% at a spur road or driveway access points and thereafter returning the grade to 10% shall be permitted. (e)Minimum Curve Radius: 100 feet (i) The driving width does not included curve widening if required by AASHTO. (f)Minimum Site Distance: 200 feet Exhibit F- Page 4 1650530.6 2985509.10 ATTACHMENT B (g)Cul-de-SacsCul-de-sacs - Notwithstanding anything to the contrary set forth in Title 15 or any other provision of the Municipal Code: (i)Cul-de-sacsCul-de-sacs within Planning Area C may exceed 1,000 feet in length; provided, however, they shall not serve more than 450 Dwelling Units. The portion of any such cul-de-sac serving 250 or more Dwelling Units shall be constructed to Rural Collector Road, and the portion of such cul-de-saccul-de-sac serving less than 250 Dwelling Units shall be constructed to Rural Local Road. (ii)Cul-de-sacsCul-de-sacs located north of Interstate 70 may exceed 1,000 feet in length and service not more than 280 Dwelling Units; provided, however, the portion of any such cul-de-saccul-de-sac that is in excess of 1,000 feet shall not serve Commercial Uses except those Commercial Uses specifically included in Sections D.8(a), D.8(b), D.9(a) or D.9(b) of this PUD Guide. (h)Retaining walls (i)Retaining walls over four feet in height or any wall supporting a vehicular load or structure shall be structurally designed and certified by a Colorado licensed professional engineer. (ii)Retaining walls over ten (10) feet that support naturally occurring topography and other site development constraints shall be designed with a series of retaining walls with landscaped terraced steps. The width of the terrace between any two ten (10)--foot vertical walls shall be at least four (4) feet. Retaining walls higher than ten feet shall be separated from any other retaining wall by a minimum of five (5) feet horizontally. Terraces created between the retaining walls shall be permanently landscaped. (iii)Retaining walls supporting a vehicular load or structure (below-road retaining wall) shall not exceed twenty-ninetwenty-nine (29) feet in height. Retaining walls supporting naturally occurring topography (above-road retaining wall) shall not exceed twenty-ninetwenty-nine (29) feet in height. An above-road retaining wall and a below-road retaining wall meeting the above requirements may abut the same portion of the right-of-way or road (such that they are above and below, respectively, the same right-of-way or road). The Director shall have the authority to review and approve retaining walls that exceed the foregoing height limitation. Notwithstanding the foregoing to the contrary, retaining walls occurring along Road E (conceptual) between SP 241.00 and SP 260.00 (as generally depicted on the conceptual illustration map of the Project included in this Exhibit F) shall have no height restrictions. 5.Dedication to Town. All streets installed and constructed in accordance with the street design and improvement standards contained within Sections 7.28 and 7.32 of the Development Code, as modified by this Exhibit F, shall be accepted by the Exhibit F- Page 5 1650530.6 2985509.10 ATTACHMENT B Town for ownership and maintenance in accordance with the terms and conditions of the applicable Public Improvements Agreement. 6.Implementation of Settlement Term SheetIntent Regarding Planning Areas K and RMF-1. With respect to streets to serve Planning Areas K and RMF-1-1, the modifications set forth in this Exhibit F to the street design and improvement standards contained within Sections 7.28 and 7.32 of the Development Code are intended to implement the terms of the Settlement Term Sheet in order that, among other matters,assure that access be provided to the Uses permitted on Planning Areas K and RMF-1-1 pursuant to the Development Standards. As detailed engineering cannot be accomplished with respect to such streets as of the Effective Date, it is the Master Developer’sLandowner’s and the Town’s intent that this Exhibit F be modified from time to time, as reasonably necessary, in order to provide for such financially feasible access, all in accordance with the applicable procedures as set forth in this PUD Guide. Exhibit F- Page 6 1650530.6 2985509.10 ATTACHMENT B Exhibit F- Page 1 1650530.6 2985509.10 ATTACHMENT B Exhibit F- Page 2 1650530.6 2985509.10 ATTACHMENT B Exhibit F- Page 3 1650530.6 2985509.10 ATTACHMENT B Exhibit F- Page 4 1650530.6 2985509.10 ATTACHMENT B Exhibit F- Page 5 1650530.6 2985509.10 ATTACHMENT B Exhibit F- Page 6 1650530.6 2985509.10 ATTACHMENT B Exhibit F- Page 7 1650530.6 2985509.10 ATTACHMENT B Exhibit F- Page 8 1650530.6 2985509.10 ATTACHMENT B Exhibit F- Page 9 1650530.6 2985509.10 ATTACHMENT B Exhibit F- Page 10 1650530.6 2985509.10 ATTACHMENT B Exhibit F- Page 11 1650530.6 2985509.10 ATTACHMENT B Exhibit F- Page 12 1650530.6 2985509.10 ATTACHMENT B Exhibit F- Page 13 1650530.6 2985509.10 ATTACHMENT B Exhibit F- Page 14 1650530.6 2985509.10 ATTACHMENT B Exhibit F- Page 15 1650530.6 2985509.10 ATTACHMENT B Exhibit F- Page 16 1650530.6 2985509.10 ATTACHMENT B Exhibit F- Page 17 1650530.6 2985509.10 ATTACHMENT B Exhibit F- Page 18 1650530.6 2985509.10 ATTACHMENT B Exhibit F- Page 19 1650530.6 2985509.10 ATTACHMENT B Exhibit F- Page 20 1650530.6 2985509.10 ATTACHMENT B Exhibit F- Page 21 1650530.6 2985509.10 ATTACHMENT B Exhibit F- Page 22 1650530.6 2985509.10 ATTACHMENT B Exhibit F- Page 23 1650530.6 2985509.10 ATTACHMENT B Exhibit F- Page 24 1650530.6 2985509.10 ATTACHMENT B Exhibit F- Page 25 1650530.6 2985509.10 ATTACHMENT B Exhibit F- Page 26 1650530.6 2985509.10 ATTACHMENT B Exhibit F- Page 27 1650530.6 2985509.10 ATTACHMENT B Exhibit F- Page 28 1650530.6 2985509.10 ATTACHMENT B EXHIBIT G Municipal Code Provisions Not Applicable to The Village (at Avon) PUD1. Development Code Provisions: (a)§ 7.16.060(i) Lapse of a Final PUD (b)§§ 7.16.060(j)(1)(ii) & (iii) Revocation of a Final PUD (c)§ 7.16.090 Design Review (d)§ 7.16.100 Special Review Use (e)§ 7.16.140(b)(2) Vested Property Rights Created (only the second sentence reading, “Amendments to any site specific development plan shall be subject to this Chapter and shall have a new vested property right as determined by the Town Council.”) (f)§ 7.16.140(g) Forfeiture of Vested Property Rights (g)§ 7.20.100 Employee Housing Mitigation (h)Select sections of Chapter 7.24, specifically listed as follows: § 7.24.040, § 7.24.050(a) and (b), § 7.24.060, § 7.24.070(e) (i)§§ 7.28.020(b)(4) & (5) Applicability and Location: Location and Ownership (j)§ 7.28.020(e) Off-StreetOff-Street Parking (k)§ 7.28.020(g) Computation of Parking and Loading Requirements (l) § 7.28.020(h) Off-SiteOff-Site Parking (m)§ 7.28.050 Landscaping (n)§ 7.28.070(b)(4) Retaining Walls (o)§ 7.28.060 Screening (p)§ 7.28.090 Design Standards, provided that subsection (c)(5) shall apply (q)§§ 7.28.100(a)(3)(v), (x) & (xiii)(D) Natural Resource Protection (r)§§ 7.28.100(a)(3)(xiii)(E) Natural Resource Protection (only with respect to Planning Areas I, K and RMF-1-1) (s)§§ 7.32.010(c)(2) & (6) Engineering Improvement Standards: Standards and Specifications Exhibit G- Page 1 1650530.6 2985509.10 ATTACHMENT B (t)§ 7.32.030(l) Engineering Improvement Standards: Streets; Grades, Curves, and Sight Distances (u)§ 7.32.030(m) Engineering Improvement Standards: Streets; Cul-de-sacsCul-de-sacs (v)§ 7.32.040(c) Paved Trail Design: Minimum Width (w)§ 7.32.040(e) Paved Trail Design: Grades (x)§ 7.32.080 School Site Dedication (Pursuant to Section 3.7(a) of the Development Agreement, Section 7.32.080 of the Development Code with respect to school site dedications, subject to the provisions of Section 3.9(b) of the Development Agreement) (y) § 7.32.090 Park Land Dedication, subject to the provisions of Section 3.9(b) of the Development Agreement (z)§ 7.40 1041 Regulations 2. Other Municipal Code Provisions: (a)Chapter 3.40 Impact Fees, subject to the provisions of Section 3.9(b) of the Development Agreement (b)Chapter 8.32 Wildlife Protection (c)Chapter 15.28 Sign Code (excluding Section 15.28.050(c) (sign installation permit)) (d)Chapter 15.30 Outdoor Lighting Standards (e)Impact fees enacted or adopted after the Effective DateAugust 1, 2014, the impacts of The Village (at Avon) being adequately mitigated by, among other matters, the payment of the impact fees set forth in Section 3.8 of the Development Agreement, subject to the provisions of Section 3.9(b) of the Development Agreement. (f)Pursuant to Section I.15 of this PUD Guide, any affordable housing, attainable housing and/or employee workforce housing provisions of the Municipal Code, subject to the provisions of Section 3.9(b) of the Development Agreement. (g)Any provision in Title 15 or elsewhere in the Municipal Code that conflicts with the provisions of this PUD Guide regarding the maximum number of Dwelling Units that can be constructed on a cul-de-sac. Exhibit G- Page 2 1650530.6 2985509.10 ATTACHMENT B EXHIBIT H Section 7.16.070 of Development Code7.16.07 Subdivisions. The purpose of the subdivision review procedures is to ensure compliance with all the standards and requirements in this Development Code and encourage quality development consistent with the goals, policies and objectives in the Comprehensive Plan. (a)Applicability. The procedures of this Section and the standards in Chapter 7.32, Engineering Improvement Standards, shall apply to all subdivisions or re-subdivisions that result in the portioning, dividing, combining or altering of any lot, parcel or tract of land, including land used for condominiums, apartments or any other multiple dwelling units or creation of an estate in airspace, except any subdivisions that are specifically excluded by state law. If a tract of land that has been created or subdivided in the past is later described as a single tract in deeds or plat by the legal or equitable owners, any later subdivisions of that tract, even if along the lines of the earlier subdivision, shall be subject to the requirements of these regulations. If any tract of land or airspace has been subdivided as one (1) type of subdivision and thereafter is subdivided so as to create a different typ e of subdivision (for example, conversion of a condominium subdivision to a timesharing subdivision), the conversion shall be subject to the requirements of this Development Code. Unless the method of disposition is adopted for the purpose of evading the requirements of the Development Code, this procedure shall not apply to any division of land that: (1)Is created by a lien, mortgage, deed of trust or any other security instrument; (2)Is created by any interest in an investment entity; (3)Creates cemetery lots; (4)Creates an interest or interests in oil, gas, minerals or water that are severed from the surface ownership of real property; (5)Is created by the acquisition of an interest in land in the name of a husband and wife or other persons in joint tenancy or as tenants in common of such interest. For the purpose of this Paragraph, any interest in common owned in joint tenancy shall be considered a single interest; (6)Creates a leasehold interest with a term of less than twenty (20) years and involves no change in use or degree of use of the leasehold estate; (b)Subdivision Categories. Categories of subdivisions are established and defined as follows for the purpose of determining the appropriate subdivision review procedure: (1)Major Subdivision. Major subdivisions include all subdivisions which would create four (4) or more separate parcels of land or which would require or which propose public improvements. Exhibit H Page 1 2985509.10 ATTACHMENT B (2)Minor Subdivision. Minor subdivisions include all subdivisions which would create less than four (4) separate parcels of land, subdivisions which do not require or propose public improvements, subdivisions which consolidate two (2) or more lots into a single lot in a previously recorded subdivision plat and subdivisions which move any lot lines by more than two (2) feet; but shall not include subdivisions which are administrative subdivisions. Condominiums and timeshare subdivisions more than four (4) units which do not propose public improvements shall be processed as minor subdivisions. (3)Administrative Subdivisions. Administrative subdivisions are subdivisions which include dividing a parcel of land for a duplex, subdivisions for the purpose of correcting survey errors, condominium and timeshare subdivisions up to four (4) units and subdivisions which adjust lot lines by two (2) feet or less and which do not change the number of lots. The Director shall have the authority to determine that an administrative subdivision application shall be processed as a minor subdivision where the character of the subdivision application or multiple applications presents issues which warrant review and approval by the Town Council. All administrative subdivisions are exempt from notice requirements outlined in Subsection 7.16.020(d). (c)Review Procedures. Applications for a subdivision shall follow the general review procedures set forth in Section 7.16.020, General Procedures and Requirements. Applications for subdivision must be initiated by the owner of the real property. The Director may combine preliminary plan and final plat review where the subdivision application can be reviewed efficiently and effectively with a combined process. Where subdivision approval will be required to implement development in a proposed PUD, the applicant shall file a single preliminary plan incorporating the application requirements of both the PUD and subdivision preliminary plans. The provisions and procedures for public notice, hearing and review for a PUD as prescribed in the Development Code shall apply to the application. (d)Review Authority. The review authority for a subdivision application shall be determined by the subdivision category. (1)Major Subdivision. Major subdivisions shall be required to obtain approval for a preliminary plan and for a final plat. The PZC shall review a preliminary plan for a major subdivision application and shall provide a recommendation to the Town Council after conducting a public hearing. The Town Council shall render the final decision on a preliminary plan for a major subdivision application after conducting a public hearing. The Town Council shall review the final plat for major subdivision applications and render a final decision after conducting a public hearing. The preliminary plan and final plat for major subdivisions shall be approved by resolution or ordinance of the Town Council. (2)Minor Subdivision. Minor subdivisions shall require final plat review and approval only where no public improvements are proposed; however, the review criteria for a preliminary plan shall apply to review of minor subdivision final plats in addition to the review criteria for a final plat. The Town Council shall render the final decision on a Exhibit H Page 2 2985509.10 ATTACHMENT B minor subdivision application after conducting a public hearing. Minor subdivisions shall be approved by resolution or ordinance of the Town Council. (3)Administrative Subdivisions. Administrative subdivisions shall require final plat review and approval only; however, the review criteria for a preliminary plan shall apply to review of administrative subdivisions in addition to the review criteria for a final plat. The Director shall review and render decisions on administrative subdivisions. A decision of the Director may be appealed to the Town Council pursuant to Section 7.16.160, Appeal. (e)Preliminary Plan Review Criteria. The reviewing authority will use the following review criteria as the basis for recommendations and decisions on applications for preliminary plan subdivision applications: (1)The proposed subdivision shall comply with all applicable use, density, development and design standards set forth in this Development Code that have not otherwise been modified or waived pursuant to this Chapter and that would affect or influence the layout of lots, blocks and streets. Applicants shall not create lots or patterns of lots in the subdivision that will make compliance with such development and design standards difficult or infeasible; (2)The subdivision application shall comply with the purposes of the Development Code; (3)The subdivision application shall be consistent with the Avon Comprehensive Plan and other community planning documents; (4)The land shall be physically suitable for the proposed development or subdivision; (5)The proposed subdivision shall be compatible with surrounding land uses; (6)There are adequate public facilities for potable water supply, sewage disposal, solid waste disposal, electrical supply, fire protection and roads and will be conveniently located in relation to schools, police, fire protection and emergency medical services; (7)The proposed utility and road extensions are consistent with the utility’s service plan and are consistent with the Avon Comprehensive Plan and Comprehensive Transportation Master Plan; (8)The utility lines are sized to serve the ultimate population of the service area to avoid future land disruption to upgrade under-sized lines; (9)The subdivision is compatible with the character of existing land uses in the area and shall not adversely affect the future development of the surrounding areas; Exhibit H Page 3 2985509.10 ATTACHMENT B (10)A proposed subdivision for an existing PUD shall be consistent with the relevant PUD Master Plan as reflected in the approval of that PUD; (11)Appropriate utilities, including water, sewer, electric, gas and telephone utilities, shall provide a “conditional capacity to serve” letter for the proposed subdivision; (12)That the general layout of lots, roads, driveways, utilities, drainage facilities and other services within the proposed subdivision shall be designed in a way that minimizes the amount of land disturbance, minimize inefficiencies in the development of services, maximizes the amount of open space in the development, preserves existing trees/vegetation and riparian areas, protects critical wildlife habitat and otherwise accomplishes the purposes of this Development Code. (13)Evidence that provision has been made for a public sewage disposal system or, if other methods of sewage disposal are proposed, adequate evidence that such system shall comply with state and local laws and regulations; (14)Evidence that all areas of the proposed subdivision that may involve soil or topographical conditions presenting hazards or requiring special precautions have been identified by the applicant and that the proposed use of these areas are compatible with such conditions or that adequate mitigation is proposed; (15)The subdivision application addresses the responsibility for maintaining all roads, open spaces and other public and common facilities in the subdivision and that the Town can afford any proposed responsibilities to be assumed by the Town; (16)If applicable, the declarations and owners’ association are established in accordance with the law and are structured to provide adequate assurance that any site design standards required by this Development Code or conditions of approval for the proposed subdivision will be maintained or performed in a manner which is enforceable by the Town; and (17)As applicable, the proposed phasing for development of the subdivision is rational in terms of available infrastructure capacity and financing. Exhibit H Page 4 2985509.10 ATTACHMENT B (f)Final Plat Review Criteria. After approval of a preliminary plan, the applicant may submit an application for a final plat. The following criteria shall apply to review of a final plat subdivision application: (1)The Town Engineer shall compare the legal description of the subject property with the County records to determine that: (i)The property described contains all contiguous single ownership and does not create a new or remaining unrecognized parcel of less than thirty-five (35) acres in size; (ii)The lots and parcels have descriptions that both close and contain the area indicated; and (iii)The plat is correct in accordance with surveying and platting standards of the State. (2)The final plat conforms to the approved preliminary plan and incorporates all recommended changes, modifications and conditions attached to the approval of the preliminary plan; (3)The final plat conforms to all preliminary plan criteria; (4)The development will substantially comply with all sections of the Development Code; (5)The final plat complies with all applicable technical standards adopted by the Town; and (6)Appropriate utilities shall provide an ability to serve letters, including but not limited to water, sewer, electric, gas and telecommunication facilities. (g)Public Improvements Guarantee. Guarantees for public improvements shall comply with Subsection 7.32.100(c). (h)Revocation. An approval of a final plat is revoked pursuant to this Section. (1)Recording. The applicant shall cause the final plat and restrictive covenants, if any, to be recorded within ninety (90) days from the date of approval and acceptance of the Council. In the event that the plat is not recorded, the approval of the Council shall be deemed to be void and such plat shall not thereafter be recorded, unless and until the Mayor executes a written authorization for recording the final plat. (2)Vacation. The final plat approval shall include a determination of a reasonable time by which the project should be completed. All plats given final approval shall contain a notation indicating the date by which a project is expected to be completed, that shall be prima facie evidence of a reasonable time by which the project should have been completed. A plat or any portion thereof that has been finally approved Exhibit H Page 5 2985509.10 ATTACHMENT B by the Council and has been recorded shall be subject to vacation proceedings if the project that is the subject of the subdivision is not completed within the time set by Council. (3)Extension. Extensions of the time limit for project completion may be obtained from the Council for good cause shown, upon request by the applicant or owner of the tract, if made before the vacation proceedings are instituted. (Ord. 10-14 §3) Exhibit H Page 6 2985509.10 ATTACHMENT B EXHIBIT HI DefinitionsThe definitions of words and phrases set forth in this Exhibit HI expressly supersede any additional or conflicting definitions of the same words or phrases or same general intent as set forth in the Municipal Code and constitute the sole and exclusive definitions for the purpose of this PUD Guide and the interpretation, application and enforcement of this PUD Guide and related components of the Development Plan. When not inconsistent with the text, words used in the present tense include the future, words used in the singular number include the plural, words in the plural include the singular, and the masculine includes the feminine. The words “will” or “shall” are mandatory, and the word “may” is permissive. Accessory Building, Structure or Use means a subordinate Building, Structure or Use located on the same Lot (or on a contiguous Lot in the same ownership) on which the main Building, Structure or Use is situated, which is customarily incidental to that of the main Building or to the main Use of the Site, and which is reasonably necessary and incidental to the conduct of the Use of such Building, Structure or main Use. Administrative Subdivision Areas has the meaning set forth in Section G.1(a) of this PUD Guide. Accommodation Unit(s) means any room or group of rooms used primarily for transient lodging and accessible from common corridors, walks, or balconies without passing through another Accommodation Unit. Short Term Rentals are not Accommodations Units. Affordable Housing Plan means the sole and exclusive affordable housing requirements for The Village (at Avon) PUD, as set forth in Section I.15 of this PUD Guide, which expressly supersede any additional or conflicting provisions of the Municipal Code. Administrative Subdivision Areas has the meaning set forth in Section G.1(a) of this PUD Guide. Affiliated Landowners means, collectively, together with their respective successors and assigns and together with any other entity with respect to which Traer Creek LLC is the managing member and which acquires title to any portion of the Property after the Effective Date, Traer Creek Holdings No. 1 LLC, Traer Creek Holdings No. 2 LLC, TC-MAV LLC, Traer Creek-RP LLC, EMD Limited Liability Company, Traer Creek Plaza LLC, Traer Creek-HD LLC and Traer Creek-WMT LLC. Agricultural Use means those agricultural activities commonly pursued in Eagle County including but not limited to the planting, cultivation and harvesting of crops, trees, grasses and similar crops used for production of hay and other animal feedstock, and the grazing of livestock; provided, however, that Animal Boarding, cultivation in connection with operation of a Medical Marijuana Business and large contained animal feeding operations (feed lots) and/or slaughter houses shall not be construed as an Agricultural Use. Amended and Restated PUD Guide means the version of this PUD Guide approved by the Town on November 7, 2012, as amended by administrative amendment dated January 9, 2014, and H-1 1650530.6 ATTACHMENT B recorded in the real property records of Eagle County, Colorado, on August 1, 2014 at Reception No. 201412778. Animal Boarding means the operation of an establishment, excluding the operation of Kennels, in which domesticated animals other than household pets are housed, groomed, bred, boarded, trained or sold. Animal Boarding shall not be construed to be an Agricultural Use eligible for being designated an approved Interim Use. Applicant means the Landowner of the real property comprising the Site for which an Application is submitted, or an individual or entity whom the Landowner has designated in writing as its authorized representative for the purpose of representing the Landowner and/or acting upon any application or submittal for development of the pertinent Site (which may be a contract purchaser or owner of an option to purchase fee simple ownership of the Site or portion thereof with the fee owner’s written consent to any such application or submittal, or which may be an owners’ association for a Condominium project or like common interest ownership project). Notwithstanding any additional or conflicting provision of the Municipal Code, the definition of “Applicant” shall not be construed to mean any person or entity owning, holding or possessing an easement interest, a leasehold interest, a license, a security interest or any other form of interest in the Site, whether possessory or otherwise, other than fee simple ownership of the Site as reflected in the official records of the Eagle County Tax Assessors office. Application means any form of application or submittal to the Town for review and approval of any form of development within The Village (at Avon), including but not limited to an application or submittal regarding an amendment to this PUD Guide, a Preliminary Plan, a Final Plat, a grading permit, a building permit or similar matters. Appurtenances means the visible, functional, or ornamental objects accessory to and part of a building. Arcade means a series of arches or similar architectural features supported on piers or columns. Architectural Projection means a building element (i.e., Appurtenance, Arcade, Awning, Balcony, tower, steeple, portico, chimney, cupola and similar non-habitable features) which physically projects beyond the plane of a required limitation (i.e., height, setback, etc.). Area Median Income means the estimates of median household income for Eagle County compiled and released annually by the United States Department of Housing and Urban Development. Automobile Repair Shop (Major or Minor) means an establishment that does not sell fuel, gasoline or petroleum products which is primarily engaged in the service, repair or maintenance (including but not limited to paint, body and fender, major and minor engine and engine part overhaul, muffler, upholstery work, tire repair and change, lubrication, tune ups and transmission work, vehicle washing, detailing polishing similar services) of: (i)with respect to Major Uses, commercial and heavy truck oriented motor vehicles, trailers and similar large mechanical equipment; and H-2 1650530.6 ATTACHMENT B (ii)with respect to Minor Uses, passenger and light truck oriented motor vehicles, trailer and similar mechanical equipment. Awning means a roof-like cover (whether canvas, metal, masonry or other material) that extends in front of or over a doorway, window, deck, Balcony or entryway to provide protection from the sun, rain or snow. Balcony means that portion of a Structure that is essentially open and outward from the main Building with a floor and a railing, with or without a ceiling or other form of cover, and higher than four (4) feet above ground level. Bed and Breakfast means an establishment operated in a private residence or portion thereof that provides temporary accommodations to overnight guests for a fee and which is occupied by the operator of such establishment. Block means a unit of land designated as a “block” on a recorded Final Plat and which contains within its boundaries a group of individually platted Lots as designated on such recorded Final Plat. Building means any permanent Structure constructed for the shelter or enclosure of persons, animals, chattels or property of any kind, which is permanently affixed to the land and has one (1) or more floors and a roof. Building Envelope means the physical boundaries within which Buildings, Structures or other above-ground improvements may be constructed on a particular Site, being a three (3) dimensional volume circumscribed by: (i)the applicable Building Setback requirements; (ii)the applicable Building Height requirements; (iii)the applicable Site Coverage requirements; and (iv)the applicable Lot Area requirements. (v)building envelopes as depicted on approved Final Plats for Lots in Planning Area K as contemplated by Section D.8(d) of this PUD Guide. Notwithstanding the foregoing, the following improvements are permitted outside of the Building Envelope: Sidewalks, Drive Aisles, Driveways, landscape features, Infrastructure and Dry Utilities. Building Height means the distance measured vertically from the reference elevation (defined below) to the top of a flat roof or mansard roof or to the highest ridgeline of a sloping roof (also referred to as the parallel slope method and depicted by diagram in Section 7.08.010 of the Development Code, as in effect on the Effective DateAugust 1, 2014), but excluding from the H-3 1650530.6 ATTACHMENT B calculation of Building Height any non-habitable Architectural Projections. The “reference elevation” shall be: (i)within Planning Areas E,I, K, RMF-1 and-1, RMF-2-2, and CH-1, the Natural Grade (ii)within the portions of Planning Areas A,and D and E located less than 250 feet from the southerly boundary of such Planning Areas, the existing grade as exists on the date of execution of the Settlement Term Sheet the Property, the Engineered Grade (iii) within the portions of Planning Areas A,and D and E located 250 feet or more from the southerly boundary of such Planning Areasthe Property, and within all other Planning Areas, the Finished Grade Building Setback means the distance from a specified Site boundary line, a creek or a stream measured horizontally to a line or location within the Site which establishes the permitted location of Uses, Structures, or Buildings on the Site. The location within a Site of Sidewalks, Drive Aisles, Driveways, landscaping features and fences required pursuant to applicable Town or other governmental ordinances, regulations and requirements (i.e., fence enclosures for swimming pools) are not restricted by the Building Setback requirements. Bus Stop means a facility for the loading and discharging of passengers by publicly or privately operated buses. Cabled Telecommunication Equipment means any equipment used to provide Cabled Telecommunication Service, but which is not affixed to or contained within a Cabled Telecommunication Facility, but is instead affixed to or mounted on an existing Building or Structure the Primary Use of which is not for the provision of Cabled Telecommunications Services. Cabled Telecommunication Equipment also includes a ground mounted base station used as an Accessory Structure that is connected to an antenna or dish mounted on or affixed to an existing Building. Cabled Telecommunication Facility means any freestanding facility, Building, pole, tower or other Structure used to provide only Cabled Telecommunication Services, and which consists of, without limitation, antennae, equipment, storage and other Accessory Structures used to provide Cabled Telecommunications Services. Cabled Telecommunication Service means services providing for the transmission through Dry Utilities facilities of analog or digital communications of any form and any similar services transmitted by or through fiber optic or other forms of below or above ground cabling, including but not limited to cable television, high speed data, telephony, and satellite television sys tems providing services to a Multi-family Dwelling, a collection of Single-family Dwellings, or a collection of Buildings within a Mixed Use Project. Child Care Center means a facility, however named or denominated (for example, day-care centers, day nurseries, nursery schools, preschools, play groups, day camps, summer camps, centers for developmentally disabled, dependent and/or neglected children, but specifically H-4 1650530.6 ATTACHMENT B excluding Family-care Homes), which is maintained, for the whole or part of a day, for the care of: (i)five (5) or more children under the age of sixteen (16) years who are not related to the owner, operator or manager of such facility, whether operated with or without compensation for such and with or without stated education purposes; or (ii)children under the age of six (6) years with stated education purposes which are operated in conjunction with a public, private or parochial educational facility, except for a kindergarten maintained in connection with a public, private or parochial elementary school system of at least six (6) grades so long as the school system is not also providing extended day care services. Commercial Parking means a surface parking lot or Parking Structure that does not provide accessory parking to a specific Building or Use, is available for parking by the general public for a fee, may include reserved parking spaces, and which is owned by a private, non-governmental entity. Commercial Space means, as more particularly described and qualified in Section B.10 of this PUD Guide, the square footage of a Building developed for Commercial Uses. Commercial Use(s) means the following Uses: (ai) Accommodations Units; (bii)Animal Boarding; (ciii)assisted living facility; (div)Automobile Repair Shop (Major or Minor); (ev)bakeries; (fvi)bar and tavern; (gvii)barber and beauty shops; (hviii)Bed and Breakfast; (iix)beverage stores, coffee shops; (jx) Bus Stop; (kxi)business and professional offices; (lxii)Cabled Telecommunications Equipment; (mxiii)Cabled Telecommunications Facilities; H-5 1650530.6 ATTACHMENT B (nxiv)Cabled Telecommunications Services; (oxv)car wash (as the Principal Use); (pxvi)Child Care Center; (qxvii)cinema; (rxviii)clinic, intermediate medical care facility, urgent care facility, rehabilitation centers and x-ray/MRI centers (i.e., out-patient services only); (sxix)clothing stores; (txx)Community Facilities; (uxxi)commercial offices; (vxxii)Commercial Parking; (wxxiii)Convenience Retail; (xxxiv)department stores; (yxxv)Drive-in Uses; (zxxvi)employment agency; (aaxxvii)Extended Stay Hotel; (bbxxviii)Family Child Care Home; (ccxxix)Grocery Store; (ddxxx)Financial institutions; (eexxxi)fitness centers and health clubs; (ffxxxii)furniture stores; (ggxxxiii)hardware stores; (hhxxxiv)Hotel, Motel and Lodge; (iixxxv)Home Occupations, Minor and Major; (jjxxxvi)Hospitals; (kkxxxvii)independent living facility; H-6 1650530.6 ATTACHMENT B (llxxxviii)indoor entertainment facility; (mmxxxix)indoor storage; (nnxl)Kennels; (ooxli)laboratory; (ppxlii)landscaping and snow removal services; (qqxliii)laundromat/dry cleaning; (rrxliv)long-term care facilities and other medical facilities including, but not limited to, group and congregate care facilities, nursing homes and independent living facilities; (ssxlv)Medical Marijuana Businesses; (ttxlvi)medical and dental offices; (uuxlvii)meeting facility; (vvxlviii)newspaper and commercial printing shops; (wwxlix)Nude Entertainment Establishments; (xxl)nursery or garden supply; (yyli)Outdoor Storage; (zzlii)pet shop (for the sale of pets, pet supplies and/or for domesticated animal grooming); (aaaliii)professional offices; (bbbliv)real estate sales offices; (ccclv)photocopy and blueprint businesses; (dddlvi)Public Facilities; (eeelvii)Private Parking; (ffflviii)Public Parking; (ggglix)Recycling Facility; (hhhlx)Recycling Processing Facility; H-7 1650530.6 ATTACHMENT B (iiilxi)Religious Facility; (jjjlxii)repair shops, small electronics repair; (kkklxiii)Restaurants; (llllxiv)Retail sales, specialty and gift shops; ski tuning; bike assembly (mmmlxv)service and social clubs; (nnnlxvi)Service Stations; (ooolxvii)Studios (music, dancing, photography, movie, art and broadcasting) (ppplxviii)tailor, seamstress, clothing alterations (qqqlxix)tattoo parlor, body piercing (rrrlxx)Temporally Divided Dwelling (ssslxxi)theaters; (tttlxxii)trade schools and colleges; (uuulxxiii)Transit Shelter; (vvvlxxiv)Wireless Telecommunications Equipment; (wwwlxxv)Wireless Telecommunications Facilities; (xxxlxxvi)Wireless Telecommunications Services; (yyylxxvii)Vacation Clubs; (zzzlxxviii)Uses which the Director determines to be similar. Community Development means the Town of Avon Department of Community Development. Community Facility means a publicly or privately owned facility, Building or Structure which is primarily intended to serve the recreational, educational, cultural administrative or entertainment needs of the community as a whole and is operated on a non-commercial, not for profit, non-profit or similar basis. Community Housing Plan means the sole and exclusive community housing requirements for The Village (at Avon) PUD, as set forth in Section I.15 of this PUD Guide, which expressly supersede any additional or conflicting provisions of the Municipal Code. Community Housing Policies means the Avon Community Housing Policies 2025 adopted by the Town Council on April 8, 2025 via Resolution No. 25-01 in effect as of the Effective Date H-8 1650530.6 ATTACHMENT B and as may be amended from time to time, so long as not in conflict with the Community Housing Plan. Community Housing Unit means, whether for-rent or for-sale, a Dwelling Unit that is restricted pursuant to the Community Housing Plan, or as otherwise agreed to by the Town and Master Landowner, to use as a primary residence by qualified persons. Comprehensive Plan means the Comprehensive Plan, Town of Avon, Colorado, effective as of date the Town approved the Original PUDEffective Date. Condominium means any group of Condominium Units developed as a unitary project within a Site on which one or more Buildings are located. Condominium Unit means an individual air space unit (as defined in C.R.S. § 38-33-10338-33-103(4)) together with the interest in the common elements (as defined in C.R.S. § 38-33-10338-33-103(3)) of the Condominium appurtenant to such unit. For purposes of Dwelling Unit calculation, only Condominium Units which are designated for Residential Use shall be counted as Dwelling Units. Convenience Retail means a retail store containing less than five thousand (5,000) square feet of gross floor area which sells everyday good and services, which may include, without limitation, ready-to-eatready-to-eat food products, groceries,over-the-counterover-the-counter drugs and sundries. Design Covenant means the Declaration of Master Design Review Covenants For The Village (at Avon) dated May 8, 2002 and recorded on May 8, 2002 at Reception No. 795011, as amended by the First Amendment to Declaration of Master Design Review Covenants For The Village (at Avon) dated June 4, 2008 and recorded on June 10, 2008 at Reception No. 200812112 and by the Second Amendment and Ratified First Amendment to Declaration of Master Design Review Covenants For The Village (at Avon) dated September 16, 2010 and recorded on September 16, 2010 at Reception No. 201018341, and as may be further amended from time to time. Design Review Guidelines means The Village (at Avon) Design Review Guidelines dated March 15November 16,20112022, as may be further amended and/or supplemented from time to time, and as prepared, approved and promulgated by the Design Review Board and which establish the sole and exclusive architectural design, landscape design, urban design and site design standards applicable within The Village (at Avon). Design Review Board means The Village (at Avon) Design Review Board as appointed or elected in accordance with the Design Covenant. Developer Affiliates means, collectively, together with their respective successors and assigns and together with any other entity with respect to which Traer Creek LLC is the managing member and which acquires title to any portion of the Property after the Effective Date, Traer Creek-RP LLC, EMD Limited Liability Company, Traer Creek Plaza LLC, Traer Creek-HD LLC and Traer Creek-WMT LLC. H-9 1650530.6 ATTACHMENT B Development Agreement means the Consolidated, Amended and Restated Annexation and Development Agreement for The Village (at Avon) concerning the Property dated as of October 22, 2013Recorded on August 1, 2014 at Reception No. 201412777, as amended from time to time. Development Bonus has the meaning given it in Section D.1(f) of this PUD Guide. Development Code means Title 7 of the Municipal Code, as amended from time to time, unless otherwise stated. Development Plan means, as referenced in Section A.4(b) of this PUD Guide, collectively, (i) this PUD Guide (together with each Exhibit hereto), as may be amended from time to time; and (ii) the Development Agreement, as may be amended from time to time. Development Standards means the planning requirements and regulations governing the development of the Property as set forth in Section D, Development Standards within The Village (at Avon) PUD, and Section I, Supplemental Regulations, of this PUD Guide. Director means the Director of Community Development. Drive Aisle means the lane(s) within a parking lot or facility devoted to the passage of vehicles, as opposed to the parking stalls, and does not include lanes used only or primarily for drive-in customer service. Drive-in Use means an establishment which by design, physical facilities, service or packaging procedures encourages or permits customers to receive services, obtain goods or be entertained while remaining in their motor vehicles. Driveway means a constructed vehicular access serving one (1) or more properties and connecting directly to a public or private road. Dry Utilities means, excluding Infrastructure, conduit and sleeving for, and the installations contained therein, telephone, cable, fiberoptic and similar “dry” utilities intended to be privately owned, maintained and/or operated. Duplex Dwelling means a single architecturally integrated Structure that contains two separate and independent residences intended to be occupied by two (2) families (or groups of people) living independently of one another, but does not encompass Primary/Secondary Structures. For purposes of the Dwelling Unit calculation, each residence within a Duplex Structure counts as a separate Dwelling Unit, thereby counting as two Dwelling Units per Duplex Structure. If the Site on which a Duplex Structure is constructed is subsequently subdivided into two separate Lots, each of the Lots and Dwelling Units can be owned separately as fee simple estates and ownership can then be conveyed or transferred independently. Dwelling means a Building or portion thereof the occupancy of which is exclusively for Residential Use as a Single-family Dwelling, Duplex Dwelling, Multi-family Dwelling H-10 1650530.6 ATTACHMENT B (including Condominium Units designated for Residential Use), Primary/Secondary Dwelling or Major or Minor Home Occupation. Dwelling Unit(s) means one or more rooms which is designed, occupied or intended for occupancy as separate living quarters for the exclusive use of a single family (or group of people) or individual independently from any other family or group of people and having not more than one (1) primary indoor kitchen (provided that secondary “kitchenettes” such as butler kitchens, catering kitchens, bar kitchens and the like shall not be deemed to be primary kitchens) and at least one (1) bathroom. Effective Date means August 1[________],20142025,which is the effective date of the Amended and Restatedthis PUD Guide, and is intentionally distinguished from Original Effective Date. Engineered Grade means the elevation of the ground surface as shown in: (i) for Planning Area A, the Town-approved plan titled “Traer Creek Master Plan - PA-A” resubmitted to the Town and dated June 25, 2025, prepared by Martin/Martin Consulting Engineers; and (ii) for Planning Area D, the Town-approved plan titled “Traer Creek Planning Areas A-F Master Plan” resubmitted to the Town and dated January 18, 2022, prepared by Martin/Martin Consulting Engineers. Extended Stay Hotel means a Hotel/Motel/Lodge with Accommodation Units that have complete kitchen and bathroom facilities intended and utilized primarily for transient or semi-transient occupancy. Family Child Care Home means a facility for Child Care in a place of residence of a family or person for the purpose of providing less than twenty-fourtwenty-four (24) hour care for children under the age of eighteen (18) years who are not related to the head of such home, and may include any such other types of family Child Care homes as may be designated by rules of the State Department of Social Services pursuant to C.R.S. § 26-6-10626-6-106(2)(p). Final Plat means a final subdivision plat for the Property, or any portion thereof, including any replats thereof or amendments thereto, approved by the Town pursuant to Section G of this PUD Guide and/or Section 7.16.070 of the Development Code, as applicable. Finished Grade means the final elevation of the ground surface after development. Grocery Store means a retail establishment which primarily sells food for home consumption, beverages and other convenience and household goods. Gross Square Footage means the total floor area designed for occupancy and use, including basements, mezzanines, stairways and upper floors, if any, expressed in square feet and measured from the interior surface of joint partitions and exterior surface of outside walls. Group Home means a Structure within which a state licensed facility for the care and/or housing of developmentally disabled persons, mentally ill persons, sex offenders, parolees or similar distinct groups of individuals is undertaken. H-11 1650530.6 ATTACHMENT B Home Occupation, Major means an occupation or business activity which results in a product or service and is conducted in whole or in part in a Dwelling Unit and does not qualify as a Minor Home Occupations because it: produces noise audible outside the Dwelling Unit; causes or requires customers, delivery persons, employees or any person to enter the property on or within which the Dwelling Unit is located; requires alteration to the Dwelling Unit to satisfy applicable fire, building or health codes or regulations; requires or allows any signs to be visible from the outside of the property on or within which the Dwelling Unit is located; and/or changes the appearance or residential character of the Structure. A Major Home Occupation Use shall be considered a Commercial Use. Home Occupation, Minor means any occupation, profession or other activity (including any activity associated with a non-profit group) that takes place entirely within a Dwelling Unit and which does not: produce noise audible outside the Dwelling Unit; cause or require customers, delivery persons, employees or any person to enter the property on or within which the Dwelling Unit is located; require alteration to the Dwelling Unit to satisfy applicable fire, building or health codes or regulations; require or allow any signs to be visible from the outside of the property on or within which the Dwelling Unit is located; or change the appearance or residential character of the Structure. A Minor Home Occupation shall be considered a Residential Use. Hospital means an institution providing health services primarily for human inpatient medical or surgical care for the sick or injured and including related facilities such as laboratories, out-patient departments, cafeteria and food preparation areas, training and central services facilities and staff offices. Hospitals expressly exclude Uses not incorporated into an institution providing health services primarily for human inpatient medical or surgical care, including without limitation, the following: long-term care facilities, group and congregate care facilities, nursing homes, assisted and independent living facilities, clinics, laboratory, medical and dental offices, urgent care, rehabilitation centers and x-ray/MRI centers. Hotel, Motel and Lodge means a Building, including an Extended Stay Hotel but excluding a Bed and Breakfast, containing three (3) or more Accommodation Units and which may include Accessory Use facilities such as offices, laundry facilities, recreation facilities, lobbies, lounges, kitchen and dining facilities, meeting rooms, retail and other similar accessory uses commonly associated with hotels, motels and lodges. H-12 1650530.6 ATTACHMENT B Industrial Use(s), Heavy or Light means: (i)with respect to Heavy Industrial Uses, those uses engaged in the basic processing and manufacturing of material or products predominately from extracted or raw materials, or a use engage in storage of, or manufacturing processes using flammable or explosive materials, or storage or manufacturing process that potentially involve hazardous conditions. Heavy Industrial Uses shall also mean those uses engaged in the operation, parking and maintenance of vehicles (but specifically excluding Automobile Repair Shops), cleaning of equipment or work processes involving solid waste or sanitary waste transfer stations, recycling establishments, and transport terminals (truck terminal, public works yard, container storage). (ii)with respect to Light Industrial Uses, those uses engaged in the manufacturing, predominantly from previously prepared materials, of finished products or parts, including processing, fabrication, assembly, treatment, packaging, incidental storage, sales or distribution of such products. Further Light Industrial Uses shall mean uses such as the manufacture of electronic instruments, preparation of food products, pharmaceutical manufacturing, research and scientific laboratories or the like. Light Industrial Uses shall not include uses such as mining and extracting industries,petro-chemicalpetro-chemical industries, rubber refining, primary metal, or related industries. Infrastructure means, excluding Dry Utilities, those man-made structures which serve the common needs of the population and are generally intended to be dedicated to, owned by and maintained by the Town, another governmental or quasi-governmental entity and/or a public utility provider, including but not limited to potable water systems; wastewater disposal systems; solid waste disposal sites or retention areas; storm drainage sys tems; electric, gas or other utilities; bridges; roadways; bicycle paths or trails; pedestrian sidewalks, paths or trails; and transit stops. Interim Use means a Use that is permitted on a case-by-case basis within a particular Planning Area or on a specific Site during the period prior to or during development of a Site upon an Applicant’s receipt of written approval from the Design Review Board (as applicable) in accordance with Section I.1 of this PUD Guide; provided, however, that Agricultural Uses as an Interim Use shall be construed to be a Use by Right within all Planning Areas without the requirement of written approval from the Design Review Board. Kennel means a facility licensed to house dogs, cats or other household pets and/or where grooming, breeding, boarding, training or selling of animals is conducted as a business. Landowner means the owner(s) of fee simple title to a Block, Lot, Tract or other parcel of real property as reflected in the official records of the Eagle County Tax Assessor. Notwithstanding any additional or conflicting provision of the Municipal Code, the definition of “Landowner” shall not be construed to mean any person or entity owning, holding or possessing an easement interest, a leasehold interest, a license, a security interest or any other form of interest, whether H-13 1650530.6 ATTACHMENT B possessory or otherwise, other than fee simple ownership as reflected in the official records of the Eagle County Tax Assessors office. Landscaped Area means that portion of a Site with any combination of living plants, such as trees, shrubs, vines, groundcover, flowers, or lawns; natural features and nonliving groundcover such as rock, stone and bark; structural features, such as fountains, reflecting pools, art works, screen walls, fences and benches; and pedestrian hardscaping features such as sidewalks and plazas; but shall not include parking areas and drive lanes. Lodging Square Footage has the meaning set forth in Section B.8(i)(i) of this PUD Guide. Lot(s) means a parcel of real property as shown with a separate and distinct “lot” number or letter on a Final Plat. Lot Area means the gross area contained within the external boundary lines of a Lot, expressed in acres or in square feet. Main Street means, as described and conceptually depicted in Exhibit F of this PUD Guide, the primary east-west roadway connecting Post Boulevard to Chapel Place. Manufactured Home means a Single-familySingle-family Dwelling which is: partially or entirely manufactured in a factory; at least twenty-fourtwenty-four (24) feet wide and thirty-sixthirty-six (36) feet long; permanently affixed to and installed on an engineered permanent foundation; covered by a pitched or cosmetically equivalent roof and brick or wood exterior siding; in compliance with HUD or UBC standards, as applicable, or meets or exceeds equivalent requirements and performance engineering standards. Master DeveloperLandowner means EMD Limited Liability Company, a Colorado limited liability company (with respect to Planning Area I only) and Traer Creek LLC, a Colorado limited liability company (in all other respects), which entities (or any successor entities)hold property for investment purposes and are designated and authorized to act on behalf of all Developer Affiliates. The Developer AffiliatesAffiliated Landowners. The Affiliated Landowners have designated the Master DeveloperLandowner to act on behalf of themselves and their respective successors in interest with respect to and for all purposes of this PUD Guide. The Developer AffiliatesAffiliated Landowners may designate a replacement Master DeveloperLandowner from time to time, or may terminate the role of the Master DeveloperLandowner, by delivery of written notice thereof to the Town and to Traer Creek Metropolitan District, its successors or assigns, which is signed by a majority of the Developer AffiliatesAffiliated Landowners owning any part of the Property as of the date of such notice. Any replacement Master DeveloperLandowner must be an entity that is a Developer Affiliatean Affiliated Landowner. The designation of a replacement Master DeveloperLandowner or termination of the role of Master Developer by the Developer AffiliatesLandowner by the Affiliated Landowners shall not require an amendment to this PUD Guide and shall not require the consent of the Town. Medical Marijuana Business means the Use of a Site, or portion thereof, for the cultivation, manufacture, production, distribution, acquisition or sale of marijuana, including for Medical marijuana Centers, manufacturing of Medical Marijuana-Infused Products, or Optional Premises H-14 1650530.6 ATTACHMENT B as such terms are defined by C.R.S. § 12-43.3-10412-43.3-104, as may be amended, regardless of whether such Use is for profit or not for profit. Minimum Design Guideline Standards means the minimum design guideline standards for The Village (at) Avon set forth in Exhibit E of this PUD Guide. Mixed Use Project means the development of a Site, Building or Structure with two or more different Uses in accordance with the Development Standards and which is designed, planned and constructed as a unified project. Mixed Use Projects may be horizontally integrated or vertically integrated, or both. Mobile Home means a Single-familySingle-family Dwelling partially or entirely manufactured in a factory, built on a permanent chassis, which is designed to be transported on streets to the place where it is to be occupied as a Dwelling Unit, and is: at least twenty-fourtwenty-four (24) feet wide and thirty-sixthirty-six (36) feet long; permanently affixed to and installed on an engineered permanent perimeter foundation; covered by a pitched or cosmetically equivalent roof and brick or wood exterior siding; in compliance with HUD or UBC standards, as applicable, or meets or exceeds equivalent requirements and performance engineering standards. Mixed Use Project means the development of a Site, Building or Structure with two or more different Uses in accordance with the Development Standards and which is designed, planned and constructed as a unified project. Mixed Use Projects may be horizontally integrated or vertically integrated, or both. Multi-family Dwelling means a Building containing three or more Dwelling Units, whether such Dwelling Units are for sale or for lease (including Condominium Units designated for Residential Use). Municipal Code means the Town’s Municipal Code, as amended from time to time, unless otherwise stated. Natural Grade means the elevation of the ground surface in its natural state, before man-made alterations. Nude Entertainment Establishments means establishments open for business to the public in which persons appear in a state of nudity for the purpose of entertaining the patrons of such establishments, as more particularly described in Chapter 8.26 of the Municipal Code, as in effect on the Effective Date. Off-street Parking Area means all off-street areas and spaces designed, used, required or intended to be used for the parking, storage or operation of motor vehicles, including Driveways or access ways in and to such areas, but not including any Outdoor Storage area used principally for storage of recreational vehicles, landscaping materials or other bulk items, or public streets and rights-of-way. Open Space means any land or water area with its surface open to the sky which serves specific Uses of providing park and recreation opportunities, conserving natural areas and environmental resources, structuring urban development form, and protecting areas of agricultural, H-15 1650530.6 ATTACHMENT B archeological or historical significance, but shall not be construed to mean vacant or undeveloped land that is zoned for development. Original Effective Date means October 13, 1998, and is intentionally distinguished from Effective Date. Original PUD Guide. The means the version of this PUD Guide originally approved by the Town on October 13, 1998 and recorded in the real property records of Eagle County, Colorado, on November 25, 1998 at Reception No. 677744, as amended by the Prior Amendments.prior to the Effective Date pursuant to certain instruments filed of record, through and including: (i) The Village (at Avon) Second Amended and Restated PUD Guide, dated September 11, 2018, and recorded in the real property records of Eagle County, Colorado, on October 10, 2018, at Reception No. 201817341; and (ii) The Village (at Avon) PUD Master Plan Administrative Amendment No. 2, dated March 11, 2024, and recorded in the real property records of Eagle County, Colorado, on March 13, 2024, at Reception No. 202402669. Outdoor Storage means the storage of any equipment, good, junk material, merchandise or vehicles in the same place for more than twenty-fourtwenty-four (24) hours in any area other than within a roofed Structure. Parking Regulations means, as set forth in Exhibit C to this PUD Guide, the sole and exclusive Development Standards regulating parking within The Village (at Avon) PUD, which expressly supersede any additional or conflicting provisions of the Municipal Code (including but not limited to the parking standards set forth in Chapter 7.28 of the Development Code, including without limitation, any additional or conflicting such provisions. Parking Structure(s) means an above ground or below ground Structure of one or more levels containing Drive Aisles and parking stalls, which may be a stand-alone Structure or be integrated into or within a Structure as an Accessory Use or Accessory Structure, and which may provide Commercial Parking, Public Parking or Private Parking. Planning and Zoning Commission means the Town’s Planning and Zoning Commission. Planning Area means an area indicated as a planning area on the PUD Master Plan, the Use and development of which shall be regulated by and be undertaken in accordance with the Development Plan. Planning Department means the Town’s Planning Department. Preliminary Engineering means the following submittals in connection with certain future street improvements within The Village at (Avon) as described in Section A.4(g) of the PUD Guide: utilities locations (excluding utility sizing), preliminary drainage report, preliminary grading plan and street cross sections, including transitions between any different cross sections. Preliminary Plan means a preliminary subdivision plat for the Property, or any portion thereof, approved by the Town pursuant to Section G of this PUD Guide and/or Section 7.16.070 of the Development Code, as applicable. H-16 1650530.6 ATTACHMENT B Primary/Secondary Structure means a structure that consists of two Dwelling Units within a single fee simple estate: one primary unit (containing the Principal Use) and one secondary unit (i.e, a “mother-in-law suite,” carriage house or caretaker’s quarters). The primary unit must be a Single-familySingle-family Dwelling. Within all Planning Areas, the secondary unit can be no more than 25% of the floor area of the primary unit. The secondary structure may attached to or detached from the primary unit; provided that the two units cannot be subdivided or separately conveyed or transferred in ownership and the secondary unit may not be leased or subject to a leasehold interest separate from the primary unit. The Residential Use of the Secondary Structure shall be construed to be an Accessory Use to the Principal Use of the Primary Structure. For all purposes under this PUD Guide, the primary unit and secondary unit, whether attached or detached, shall be counted as two Dwelling Units. Principal Use means the primary or main Use of a Site or Structure as distinguished from a subordinate or Accessory Use. Prior Amendments has the meaning set forth in Section A.2(b) of this PUD Guide. Private Parking means a surface parking lot or Parking Structure that provides accessory parking to a specific Building or Use, is available for parking by the owners, tenants and/or customers of the Building or Use, may include reserved parking spaces, and which is owned by a private, non-governmental entity such as an owners association. Prohibited Use means a Use which is not permitted within a particular Planning Area, as distinguished from a Use by Right, a Special Review Use, a Temporary Use or an Interim Use. Property means the real property commonly known as The Village (at Avon) PUD, the boundaries of which are legally described in Exhibit A to this PUD Guide. Property Line means the boundary of any Lot, Block, Tract, Site or other parcel of land as the same is described in the pertinent Final Plat or instrument of conveyance to the Landowner, as applicable. Public Improvement(s) means any drainage ditch, storm water improvement, potable water line, sanitary sewer line, similar utility extension, roadway, parkway, sidewalk, pedestrian way, tree lawn, landscaped Open Space, Off-street Parking area, Lot improvement or similar facility or improvement which benefits the public, is required by the Town to be provided by or on behalf of the Applicant and assurance of completion to be provided as a condition of any development approval, and is documented in a Public Improvements Agreement. Public Improvements may include and generally will be comprised of Infrastructure and/or Dry Utilities, but may include types of improvements other than Infrastructure and Dry Utilities or exclude certain types of improvements that are Infrastructure or Dry Utilities. Public Improvements Agreement means an agreement to be entered into between the Town and the party responsible for constructing public infrastructure in connection with the applicable Application as contemplated by Section 7.32.100 of the Development Code. Public Improvement Company means, collectively, The Village (at Avon) Commercial Public Improvement Company and The Village (at Avon) Mixed-Use Public Improvement Company, H-17 1650530.6 ATTACHMENT B which the Master DeveloperLandowner has created in accordance with and for the purposes stated in the Development Agreement. Public Facility(ies) means constructed facilities that are owned by the Town, a District or another governmental or quasi-governmental entity, including but not limited to: transportation sys tems or facilities; water systems or facilities; wastewater systems or facilities; storm drainage systems or facilities; fire, police and emergency services sys tems or facilities; electric, gas, telecommunications utilities or facilities; and other publicly owned buildings or facilities. Public Parking means a surface parking lot or Parking Structure that is available for parking by the general public and which is owned by the Town, a quasi-governmental entity (specifically including Traer Creek Metropolitan District and Village Metropolitan District and any other quasi-governmental entity or urban renewal authority approved by the Town after the Effective Date and having all or any part of its boundaries or service area located within The Village (at Avon)). PUD Guide means this The Village (at Avon)SecondThird Amended and Restated PUD Guide dated September 11, 2018[_____________, 2025], and all exhibits attached hereto. PUD Master Plan means The Village (at Avon) P.U.D. Master Plan attached hereto as Exhibit B and incorporated herein. The PUD Master Plan depicts, among other things, Planning Areas and permanent, temporary and conceptual road alignments for the development of The Village (at Avon). Recycling Facility means a facility, which may be either contained and conducted within a Structure or conducted outside of a Structure so long as all materials are stored within an enclosed container, for the collection and temporary storage (prior to relocating to a Recycling Processing Center) of empty beverage containers, aluminum, glass, paper, cardboard, clothing or other materials for recycling purposes. Recycling Processing Center means a facility in which recycling materials received from a Recycling Facility or from other sources are processed for subsequent use or distribution. Religious Facility means a Building containing a hall, auditorium or other suitable room or rooms used for the purpose of conducting religious worship or other services or meetings of the occupants of such structure, including churches, synagogues, mosques or the like, but excluding any Buildings used for commercial endeavors. Remaining Community Housing Units has the meaning given it in Section I.15(a) of this PUD Guide. Required Street Connections has the meaning given it in Section G.5(b) of this PUD Guide. Residential Use means the Use of a Building (or applicable portion thereof) for purposes of a Single-family Dwelling, Duplex Dwelling, Multi-family Dwelling,Community Housing Unit, Minor or Major Home Occupation (portion of the Building not used for Commercial or Industrial Uses), Primary/Secondary Structure or Group Home. H-18 1650530.6 ATTACHMENT B Restaurant(s) means an establishment engaged in the Use or Accessory Use of a building or structure for the sale of foods and beverages to the customer in a ready-to consume state, and in which the design or principal method of operation includes the following characteristics: (i)With respect to “drive-through” Restaurants, allows food or beverages to be served directly to the customer in a motor vehicle without the need for the customer to exit the motor vehicle. (ii)With respect to “fast food” Restaurants: (a)Food and beverages are usually served in paper, plastic or other disposable containers; (b)The consumption of food and beverages is encouraged or permitted within the Restaurant building, within a motor vehicle parked upon the premises or at other facilities on the premises outside the restaurant building, or for carry-out; and (c)Drive-through facilities are allowed, subject to Design Review Board review and approval of Site-internal traffic patterns, Site-internal vehicle stacking areas, and entrance and exit locations. (iii)With respect to “standard” Restaurants, which may but are not required to include as an Accessory Use the on-premises production of fermented (alcoholic) malt beverages and/or malt, special malt or vinous and spirituous liquors: (a)Customers are served their food and/or beverages by a restaurant employee at the same table or counter at which the items are consumed; and/or (b)Customers are served their food and/or beverages by means of a cafeteria type operation where the food or beverages are consumed within the Restaurant building. Required Street Connections has the meaning giving it in Section G.5(b) of this PUD Guide. Service Station(s) means a facility equipped for the sale of gasoline, diesel, electricity or other forms of fuel for motorized vehicles, and which may but is not required to include as an Accessory Use Convenience Retail, fast food Restaurants, drive-through Restaurants, and/or automated or self car washes. Settlement Term Sheet has the meaning set forth in Section A.2(c) of this PUD Guide. Short Term Rental(s), pursuant to Section 3.29.020 of the Municipal Code, in effect as of the Effective Date, means any room or rooms, apartment, condominium, boardinghouse, hotel room, guesthouse, lodge, campground site, recreational vehicle space, bed and breakfast, residence or similar accommodation generally used for sleeping and made available for a fee or other H-19 1650530.6 ATTACHMENT B consideration to guests on an overnight basis for a period fewer than thirty (30) days, excluding any unit classified as commercial property by the Eagle County Assessor. For the purposes of this PUD Guide, Short Term Rental(s) may only be operated in an existing Dwelling(s) otherwise permitted in the applicable Planning Area, subject to compliance with applicable Town licensing and related regulatory requirements. Accommodations Unit(s) may not be used as Short Term Rental(s). The operation or non-operation of a Building, Dwelling, Dwelling Unit, or any portion thereof, as a Short Term Rental will not affect the classification of such Building, Dwelling, or Dwelling Unit’s otherwise applicable Use Category under this PUD Guide. Single-family Dwelling means a Building designed exclusively for occupancy by one (1) family (or individual or group of individuals living independently as a unit), but expressly excluding a Mobile Home. Site means a specifically described area of land which is the subject of a development Application, and which may be a Lot, an aggregation of Lots within a Mixed Use Project or any other form of designation or combination of designations of specifically described areas of land that are otherwise eligible to be developed under the terms of this PUD Guide and applicable law. Site Coverage means the ratio, expressed as a percentage, of the area of a Site which is rendered impermeable by Buildings compared to the Lot Area (or in the case of an assemblage of Lots, the gross area contained with the entire Site). Special Review Use means a Use or Uses permitted to be developed or conducted within The Village (at Avon) PUD only upon further Town review and approval of such Use in accordance with and subject to compliance with the terms and conditions of Section E of this PUD Guide. Any such Special Review Uses are further subject to compliance with the applicable Development Standards, the Design Review Guidelines, the Subdivision Regulations and approval by the Design Review Board, and issuance of a building permit in accordance with Section A.4(h) above and any applicable Town use permit or business permit in accordance with applicable requirements of the Municipal Code, as superseded or modified by the Development Plan. Story(ies) means a space in a Building between two adjacent floors or between a floor and an adjacent roof, excluding vaulted spaces with or without a floor, outdoor area, rooftop patios/decks and similar spaces, and excluding any Story which has a ceiling height that is less than 6 feet above Finished Grade (e.g., basements, garden level basements and underground parking garages). Where grades are necessary to be lowered to allow for vehicular parking garage access or pedestrian access into a Story which has a ceiling height that is less than 6 feet above Finished Grade, Finished Grade shall be assumed at a level as if these accesses did not exist (e.g., Finished Grade level on either side of the access). Structure means a combination of materials to form a construction for Use, occupancy or ornamentation whether installed on, above or below the surface of land or water. H-20 1650530.6 ATTACHMENT B Subdivision Regulations means Section 7.16.070 of the Development Code, as modified and/or superseded by the provisions of Section G of this PUD Guide. Supplemental Hotel Design Standards has the meaning given it in Section I.9 of this PUD Guide. The Village (at Avon) PUD means the zone district authorized for the Property by the Town, and which constitutes the sole and exclusive zoning regulations applicable within the Property and expressly supersedes any additional or conflicting provisions of the Municipal Code, as superseded or modified by the Development Plan. Temporally Divided Dwelling means any Dwelling with respect to which more than four (4) persons (or entities), whether by fee interest, leasehold or contractual right, are entitled to the use, occupancy or possession of such Dwelling according to a fixed or floating time schedule occurring periodically over any period of time (the use, occupancy or possession by each person being exclusive of that by the others. Temporally Divided Dwelling includes but is not limited to a timeshare estate as defined in C.R.S. § 38-33-11038-33-110, any form of interval ownership, any form of fractional fee ownership, and any form of vacation club or similar venture. For purposes of this definition, the Use of the Dwelling rather than the form of ownership of the Dwelling (i.e., whether owned in fee by a single owner, a corporate entity engaged in the business of providing services to those entitled to the use, occupancy or possession of a Temporally Divided Dwelling, or similar forms of ownership) shall be determinative of whether a Dwelling is a Temporally Divide Dwelling; provided, however that ownership of an interest in joint tenancy by two (2) persons shall be considered one (1) person. Temporary Use means any Use that is not classified as a Permitted Use, Special Review Use or Interim Use with respect to the applicable Planning Area, and which is permitted in accordance with Section 7.24.080 of the Development Code (Temporary Uses and Structures). The Village (at Avon) PUD means the zone district authorized for the Property by the Town, and which constitutes the sole and exclusive zoning regulations applicable within the Property and expressly supersedes any additional or conflicting provisions of the Municipal Code, as superseded or modified by the Development Plan. Town means the Town of Avon, a municipal corporation of the State of Colorado. Town Council means the Town Council of the Town. Tract means a parcel of real property as shown with a separate and distinct “tract” number or letter on a Final Plat. Transit Shelter means a Structure which provides protection from the weather to persons who are waiting to board a publicly or privately operated bus or other form of mass transit. Transportation Master Plan. The Transportation Master Plan adopted by the Town, as may be amended from time to time. H-21 1650530.6 ATTACHMENT B Use(s) means the primary or principal purpose for which land or a building or structure is designated, arranged, or intended, or for which it either is or may be occupied or maintained. Use(s) by Right means a Use or Uses permitted to be developed or conducted within The Village (at Avon) PUD without the requirement of further Town review or approval, subject to compliance with the applicable Development Standards, the Design Review Guidelines, the Subdivision Regulations and approval by the Design Review Board, and with respect to which a building permit shall be issued in accordance with Section A.4(h) of this PUD Guide and/or any applicable Town use permit or business permit in accordance with applicable requirements of the Municipal Code, as superseded or modified by the Development Plan. Use Category means one of the following general categories of Use that may be permitted within The Village (at Avon) on a Planning Area by Planning Area basis: (i)Residential Uses. (ii)Commercial Uses. (iii)Industrial Uses. (iv)Interim Uses. (v)Mixed Use Projects. (vi)Public Facilities. Vacation Club means a corporate entity that is the record owner, as reflected in the records of the Eagle County Tax Assessor, of a Temporally Divided Dwelling which Dwelling it makes available to its members and/or guests of its members for their accommodation on a periodic basis in consideration of such members’ interest or membership in the entity. Vested Property Right(s) has the meaning set forth in Section 2.4 of the Development Agreement. Vested Property Rights Regulations means Section 7.16.140 of the Development Code, as modified by this PUD Guide. Vested Property Rights Statute means Sections 24-68-101 et seq. of the Colorado Revised Statutes as in effect on October 13, 1998. Wildlife Mitigation Plan means, as set forth in Exhibit D to this PUD Guide, the sole and exclusive Development Standards for wildlife mitigation measures applicable within The Village (at Avon) PUD, and which expressly supersedes any additional or conflicting provisions of the Municipal Code. Wireless Telecommunication Equipment means any equipment used to provide Wireless Telecommunication Service, but which is not affixed to or contained within a Wireless Telecommunication Facility, but is instead affixed to or mounted on an existing Building or H-22 1650530.6 ATTACHMENT B Structure the Primary Use of which is not for the provision of Wireless Telecommunications Services. Wireless Telecommunication Equipment also includes a ground mounted base station used as an Accessory Structure that is connected to an antenna mounted on or affixed to an existing Building. Wireless Telecommunication Facility means any freestanding facility, Building, pole, tower or other Structure used to provide only Wireless Telecommunication Services, and which consists of, without limitation, antennae, equipment, storage and other Accessory Structures used to provide Wireless Telecommunications Services. Wireless Telecommunication Service means services providing for the transmission of wireless communications utilizing frequencies authorized by the Federal Communications Commission for paging sys tems, enhanced specialized wireless telecommunication, persona communication services, cellular telephone service and any similar services provided by means other than Cabled Telecommunication Services. H-23 1650530.6 ATTACHMENT B EXHIBIT I Section 7.16.070 of Development Code 7.16.07 Subdivisions. The purpose of the subdivision review procedures is to ensure compliance with all the standards and requirements in this Development Code and encourage quality development consistent with the goals, policies and objectives in the Comprehensive Plan. (a)Applicability. The procedures of this Section and the standards in Chapter 7.32, Engineering Improvement Standards, shall apply to all subdivisions or re-subdivisions that result in the portioning, dividing, combining or altering of any lot, parcel or tract of land, including land used for condominiums, apartments or any other multiple dwelling units or creation of an estate in airspace, except any subdivisions that are specifically excluded by state law. If a tract of land that has been created or subdivided in the past is later described as a single tract in deeds or plat by the legal or equitable owners, any later subdivisions of that tract, even if along the lines of the earlier subdivision, shall be subject to the requirements of these regulations. If any tract of land or airspace has been subdivided as one (1) type of subdivision and thereafter is subdivided so as to create a different type of subdivision (for example, conversion of a condominium subdivision to a timesharing subdivision), the conversion shall be subject to the requirements of this Development Code. Unless the method of disposition is adopted for the purpose of evading the requirements of the Development Code, this procedure shall not apply to any division of land that: (1)Is created by a lien, mortgage, deed of trust or any other security instrument; (2)Is created by any interest in an investment entity; (3)Creates cemetery lots; (4)Creates an interest or interests in oil, gas, minerals or water that are severed from the surface ownership of real property; (5)Is created by the acquisition of an interest in land in the name of a husband and wife or other persons in joint tenancy or as tenants in common of such interest. For the purpose of this Paragraph, any interest in common owned in joint tenancy shall be considered a single interest; (6)Creates a leasehold interest with a term of less than twenty (20) years and involves no change in use or degree of use of the leasehold estate; (b)Subdivision Categories. Categories of subdivisions are established and defined as follows for the purpose of determining the appropriate subdivision review procedure: (1)Major Subdivision. Major subdivisions include all subdivisions which would create four (4) or more separate parcels of land or which would require or which propose public improvements. (2)Minor Subdivision. Minor subdivisions include all subdivisions which would create less than four (4) separate parcels of land, subdivisions which do not require or propose public improvements, subdivisions which consolidate two (2) or more lots into a single lot in a previously recorded subdivision plat and subdivisions which move any lot lines by more than two (2) feet; but shall not include subdivisions which are administrative subdivisions. Condominiums and timeshare Exhibit I- Page 1 2985509.10 ATTACHMENT B subdivisions more than four (4) units which do not propose public improvements shall be processed as minor subdivisions. (3)Administrative Subdivisions. Administrative subdivisions are subdivisions which include dividing a parcel of land for a duplex, subdivisions for the purpose of correcting survey errors, condominium and timeshare subdivisions up to four (4) units and subdivisions which adjust lot lines by two (2) feet or less and which do not change the number of lots. The Director shall have the authority to determine that an administrative subdivision application shall be processed as a minor subdivision where the character of the subdivision application or multiple applications presents issues which warrant review and approval by the Town Council. All administrative subdivisions are exempt from notice requirements outlined in Subsection 7.16.020(d). (c)Review Procedures. Applications for a subdivision shall follow the general review procedures set forth in Section 7.16.020, General Procedures and Requirements. Applications for subdivision must be initiated by the owner of the real property. The Director may combine preliminary plan and final plat review where the subdivision application can be reviewed efficiently and effectively with a combined process. Where subdivision approval will be required to implement development in a proposed PUD, the applicant shall file a single preliminary plan incorporating the application requirements of both the PUD and subdivision preliminary plans. The provisions and procedures for public notice, hearing and review for a PUD as prescribed in the Development Code shall apply to the application. (d)Review Authority. The review authority for a subdivision application shall be determined by the subdivision category. (1)Major Subdivision. Major subdivisions shall be required to obtain approval for a preliminary plan and for a final plat. The PZC shall review a preliminary plan for a major subdivision application and shall provide a recommendation to the Town Council after conducting a public hearing. The Town Council shall render the final decision on a preliminary plan for a major subdivision application after conducting a public hearing. The Town Council shall review the final plat for major subdivision applications and render a final decision after conducting a public hearing. The preliminary plan and final plat for major subdivisions shall be approved by resolution or ordinance of the Town Council. (2)Minor Subdivision. Minor subdivisions shall require final plat review and approval only where no public improvements are proposed; however, the review criteria for a preliminary plan shall apply to review of minor subdivision final plats in addition to the review criteria for a final plat. The Town Council shall render the final decision on a minor subdivision application after conducting a public hearing. Minor subdivisions shall be approved by resolution or ordinance of the Town Council. (3)Administrative Subdivisions. Administrative subdivisions shall require final plat review and approval only; however, the review criteria for a preliminary plan shall apply to review of administrative subdivisions in addition to the review criteria for a final plat. The Director shall review and render decisions on administrative subdivisions. A decision of the Director may be appealed to the Town Council pursuant to Section 7.16.160, Appeal. (e)Preliminary Plan Review Criteria. The reviewing authority will use the following review criteria as the basis for recommendations and decisions on applications for preliminary plan subdivision applications: Exhibit I- Page 2 2985509.10 ATTACHMENT B (1)The proposed subdivision shall comply with all applicable use, density, development and design standards set forth in this Development Code that have not otherwise been modified or waived pursuant to this Chapter and that would affect or influence the layout of lots, blocks and streets. Applicants shall not create lots or patterns of lots in the subdivision that will make compliance with such development and design standards difficult or infeasible; (2)The subdivision application shall comply with the purposes of the Development Code; (3)The subdivision application shall be consistent with the Avon Comprehensive Plan and other community planning documents; (4)The land shall be physically suitable for the proposed development or subdivision; (5)The proposed subdivision shall be compatible with surrounding land uses; (6)There are adequate public facilities for potable water supply, sewage disposal, solid waste disposal, electrical supply, fire protection and roads and will be conveniently located in relation to schools, police, fire protection and emergency medical services; (7)The proposed utility and road extensions are consistent with the utility’s service plan and are consistent with the Avon Comprehensive Plan and Comprehensive Transportation Master Plan; (8)The utility lines are sized to serve the ultimate population of the service area to avoid future land disruption to upgrade under-sized lines; (9)The subdivision is compatible with the character of existing land uses in the area and shall not adversely affect the future development of the surrounding areas; (10)A proposed subdivision for an existing PUD shall be consistent with the relevant PUD Master Plan as reflected in the approval of that PUD; (11)Appropriate utilities, including water, sewer, electric, gas and telephone utilities, shall provide a “conditional capacity to serve” letter for the proposed subdivision; (12)That the general layout of lots, roads, driveways, utilities, drainage facilities and other services within the proposed subdivision shall be designed in a way that minimizes the amount of land disturbance, minimize inefficiencies in the development of services, maximizes the amount of open space in the development, preserves existing trees/vegetation and riparian areas, protects critical wildlife habitat and otherwise accomplishes the purposes of this Development Code. (13)Evidence that provision has been made for a public sewage disposal system or, if other methods of sewage disposal are proposed, adequate evidence that such system shall comply with state and local laws and regulations; (14)Evidence that all areas of the proposed subdivision that may involve soil or topographical conditions presenting hazards or requiring special precautions have been identified by the applicant and that the proposed use of these areas are compatible with such conditions or that adequate mitigation is proposed; Exhibit I- Page 3 2985509.10 ATTACHMENT B (15)The subdivision application addresses the responsibility for maintaining all roads, open spaces and other public and common facilities in the subdivision and that the Town can afford any proposed responsibilities to be assumed by the Town; (16)If applicable, the declarations and owners’ association are established in accordance with the law and are structured to provide adequate assurance that any site design standards required by this Development Code or conditions of approval for the proposed subdivision will be maintained or performed in a manner which is enforceable by the Town; and (17)As applicable, the proposed phasing for development of the subdivision is rational in terms of available infrastructure capacity and financing. (f)Final Plat Review Criteria. After approval of a preliminary plan, the applicant may submit an application for a final plat. The following criteria shall apply to review of a final plat subdivision application: (1)The Town Engineer shall compare the legal description of the subject property with the County records to determine that: (i)The property described contains all contiguous single ownership and does not create a new or remaining unrecognized parcel of less than thirty-five (35) acres in size; (ii)The lots and parcels have descriptions that both close and contain the area indicated; and (iii)The plat is correct in accordance with surveying and platting standards of the State. (2)The final plat conforms to the approved preliminary plan and incorporates all recommended changes, modifications and conditions attached to the approval of the preliminary plan; (3)The final plat conforms to all preliminary plan criteria; (4)The development will substantially comply with all sections of the Development Code; (5)The final plat complies with all applicable technical standards adopted by the Town; and (6)Appropriate utilities shall provide an ability to serve letters, including but not limited to water, sewer, electric, gas and telecommunication facilities. (g)Public Improvements Guarantee. Guarantees for public improvements shall comply with Subsection 7.32.100(c). (h)Revocation. An approval of a final plat is revoked pursuant to this Section. (1)Recording. The applicant shall cause the final plat and restrictive covenants, if any, to be recorded within ninety (90) days from the date of approval and acceptance of the Council. In the event that the plat is not recorded, the approval of the Council shall be deemed to be void and such plat shall not thereafter be recorded, unless and until the Mayor executes a written authorization for recording the final plat. (2)Vacation. The final plat approval shall include a determination of a reasonable time by which the project should be completed. All plats given final approval shall contain a notation Exhibit I- Page 4 2985509.10 ATTACHMENT B indicating the date by which a project is expected to be completed, that shall be prima facie evidence of a reasonable time by which the project should have been completed. A plat or any portion thereof that has been finally approved by the Council and has been recorded shall be subject to vacation proceedings if the project that is the subject of the subdivision is not completed within the time set by Council. (3)Extension. Extensions of the time limit for project completion may be obtained from the Council for good cause shown, upon request by the applicant or owner of the tract, if made before the vacation proceedings are instituted. (Ord. 10-14 §3) Exhibit I- Page 5 2985509.10 ATTACHMENT B 76 Table Insert Changes: 1 Table Delete 3 Add Intelligent Table Comparison: Active Table moves to 774 0 Summary report: Litera Compare for Word 11.9.1.1 Document comparison done on 10/24/2025 2:30:03 PM Table moves from 0 Delete Embedded Graphics (Visio, ChemDraw, Images etc.) 684 21 Original DMS: iw://ottenjohnson.cloudimanage.com/DOCS/1650530/6 Embedded Excel 0 Move From Format changes 76 0 Total Changes: Modified DMS: iw://ottenjohnson.cloudimanage.com/DOCS/2985509/10 1635 Move To Style name: Default Style ATTACHMENT B ATTACHMENT C - ENGINEERED GRADE ATTACHMENT C - ENGINEERED GRADE 4199881.6 FIRST AMENDMENT TO CONSOLIDATED, AMENDED AND RESTATED ANNEXATION AND DEVELOPMENT AGREEMENT FOR THE VILLAGE (AT AVON) This FIRST AMENDMENT TO CONSOLIDATED, AMENDED AND RESTATED ANNEXATION AND DEVELOPMENT AGREEMENT FOR THE VILLAGE (AT AVON) (this “First Amendment”) is made as of [_______________, 2025] (“First Amendment Execution Date”), by and among the Town, TCMD, and Master Landowner. RECITALS This First Amendment is made with reference to the following facts: A.The Town, TCMD, and Master Landowner are parties to that certain Consolidated, Amended and Restated Annexation and Development Agreement for The Village (at Avon) Recorded on August 1, 2014 at Reception No. 201412777 (the “CARADA” and, together with and as amended by this First Amendment, the “Development Agreement”) which, among other things, creates vested property rights for the real property generally known as The Village (at Avon), and more particularly described and updated to reflect the Recording of various subdivision plats subsequent to the Execution Date of the Development Agreement and attached as Exhibit A to this First Amendment. B.Initially capitalized words and phrases used but not defined in this First Amendment have the meanings set forth in Exhibit F of the CARADA, which definitions are incorporated in this First Amendment. C.Pursuant to Sections 1.5 and 1.5(a) of the CARADA, the CARADA may be amended only in writing by the Town, TCMD, EMD, TCLLC (EMD and TCLLC being the Master Landowner as defined in this First Amendment) “and those additional parties, if any, to whom TCLLC or EMD has specifically granted, in writing, the power to enter into such amendments.” TCLLC and EMD have not granted the power to enter into amendments to any entity. D.Section 1.5 of the CARADA further provides that amendments to the CARADA require the written consent of the Limited Parties, VMD, and BNP in limited circumstances. Neither the circumstances requiring consent of the Limited Parties set forth in Section 1.5(b) of the CARADA nor the circumstances requiring the consent of VMD set forth in Section 1.5(c) of the CARADA apply to this First Amendment. The 2014 Reissue Documents were subsequently refinanced such that BNP is no longer an Intended Beneficiary and BNP’s written consent to an amendment to the CARADA is no longer required pursuant to Section 1.5(d) of the CARADA (and, pursuant to this First Amendment, BNP’s consent will not be required for any future amendment to the Development Agreement). E.Pursuant to Ordinance No. [_____________], Town Council approved the PUD Guide, which incorporates the PUD Master Plan, to implement certain amendments to the previously in effect versions concerning, among other matters, Planning Areas C, D, E, I, J, K, RMF-1, CH-1 and CH-2, the Community Housing Plan (as defined in the PUD Guide), applicable requirements and criteria pertaining to the maximum number of Dwelling Units (as defined in the ATTACHMENT D 2 4199881.6 PUD Guide) that can be constructed on a cul-de-sac, and certain matters with respect to the operation of Short Term Rentals (as defined in the PUD Guide). F. In connection with the PUD Guide and PUD Master Plan approvals, the Town, TCMD, and Master Landowner wish to amend the CARADA to, among other things, modify certain provisions to conform with such amendments to the PUD Guide and PUD Master Plan and to extend the Vesting Term in accordance with the terms and conditions of this First Amendment. AGREEMENT NOW, THEREFORE, in consideration of the terms, conditions and covenants set forth in this First Amendment and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows: I. Incorporation of Recitals. The Recitals are incorporated into and made substantive provisions of this First Amendment. II. Amendments. Pursuant to this First Amendment, the CARADA is amended and restated, and the Development Agreement incorporates such amended and restated provisions to read, as follows: (A) Master Landowner. All references to “Master Developer” are deleted and replaced with a corresponding reference to “Master Landowner.” (B) Affiliated Landowner(s). All references to “Developer Affiliate(s)” are deleted and replaced with a corresponding reference to “Affiliated Landowner(s).” (C) BNP. All references to “BNP” are deleted. (D) Section 1.4(a) Vesting Term. Section 1.4(a) is amended and restated to read in its entirety as follows: (a) Vesting Term. Due to the size and phasing of the Project, the potential for development of the Project to be affected by economic and financial cycles, the effect of national and statewide markets with regard to retailers, accommodations industry and builders, and the limitation of absorption rates by the local market conditions, the Vesting Term is comprised of the Primary Vesting Term and the Mountainside Vesting Term, as follows: (i) Primary Vesting Term. The initial term of the Vested Property Rights for the Project and the Property shall continue through and include October 20, 2039 (“Primary Vesting Term”). (ii) Mountainside Vesting Term. Notwithstanding expiration of the Primary Vesting Term with respect to other areas within the Project, the term of the Vested Property Rights for Planning Areas K, RMF-1, and Block 3 shall continue through and include October 20, 2059 (“Mountainside Vesting Term”). ATTACHMENT D 3 4199881.6 (iii)Expiration of Vesting Term. If the Term expires prior to expiration of the Vesting Term, the Vesting Term shall continue in full force and effect and shall survive expiration of the Term in accordance with and subject to the terms, conditions and limitations set forth in this Agreement. The Vested Property Rights shall be deemed terminated and of no further force or effect on, with respect to the Primary Vesting Term, October 21, 2039, and, with respect to the Mountainside Vesting Term, on October 21, 2059; provided, however, that such termination shall not affect: (A)annexation of the Property to the Town; (B)any common-law vested rights obtained prior to such termination; (C)any right arising from Town building permits, development approvals or other zoning entitlements for the Property or the Project which were granted or approved prior to expiration of such Vesting Term; or, (D)any obligation of a Party under this Development Agreement that has not been fully performed as of the date on which such Vesting Term expires. (E)Section 2.4 Vesting of Property Rights. The introductory paragraph of Section 2.4 is amended and restated in its entirety to read as follows (the remaining provisions under Section 2.4 being unaffected hereby): 2.4 Vesting of Property Rights. This Development Agreement ratifies the Vested Property Rights established by the Original Agreement and the Original PUD Guide (as subsequently extended) and, as described in Section 1.4(a), extends the term of such Vested Property Rights (including with respect to future amendments to any such Approved SSDP) through and including October 20, 2039, for the Primary Vesting Term, and October 20, 2059, for the Mountainside Vesting Term. (F)Section 2.4(f) Vesting of Property Rights. Section 2.4(f) is amended and restated to read in its entirety as follows: (f)Notwithstanding any additional or contrary provision of the Municipal Code (as in effect from time to time), and notwithstanding any prior expiration of the Term, the Vesting Term with respect to the Development Plan and other Approved SSDPs (if any) shall not expire, be deemed forfeited, or otherwise limited or impaired prior to October 21, 2039, for the Primary Vesting Term, and October 21, 2059, for the Mountainside Vesting Term. For the avoidance of doubt and notwithstanding any contrary provision of the Municipal Code (as in effect time to time), the scope of Vested Property Rights established by the Development Plan specifically includes the right that all amendments to the Development Plan or other Approved SSDPs (if any) approved by the Town shall be and remain vested through and including the last day of the Vesting Term, and includes the right to retain and enjoy the remaining period of the Vesting Term for any amendment to the Development Plan or other Approved SSDPs (if any). Accordingly, during the Vesting Term (and notwithstanding any prior expiration of the Term) Town Council (or other final decision-maker of the Town) shall not condition approval of any future amendment to the Development Plan or other Approved SSDPs (if any) on, nor shall Town Council ATTACHMENT D 4 4199881.6 (or other final decision-maker of the Town) make any such approval subject to the Applicant’s, Landowner’s or Master Landowner ’s consent to, a reduction of the then-remaining Vesting Term. (F) Section 2.6 Compliance with General Regulations. Section 2.6 is amended and restated to read in its entirety as follows: 2.6 Compliance with General Regulations. Except as otherwise provided in the Development Plan, including, but not limited to provisions relating to cul-de-sac standards, the establishment of Vested Property Rights under this Development Agreement shall not preclude the application on a uniform and non-discriminatory basis of Town ordinances and regulations of general applicability (including, but not limited to, building, fire, plumbing, electrical and mechanical codes, the Municipal Code (as in effect on the Original Effective Date or as amended from time to time), and other Town rules and regulations) or the application of state or federal regulations, as all of such regulations existed on the Original Effective Date or may be enacted or amended after the Effective Date; provided, however, that Town ordinances and regulations newly enacted or amended after the Original Effective Date shall not directly or indirectly have the effect of adversely altering, impairing, preventing, diminishing, imposing a moratorium on development, delaying or otherwise adversely affecting any Landowner’s Vested Property Rights. No Landowner shall be deemed to have waived its right to oppose the enactment or amendment of any such ordinances and regulations. (G) Section 3.3(a)(i) Cul-De-Sacs. A new Section 3.3(a)(i) is inserted to read in its entirety as follows: (i) Cul-De-Sacs. Cul-de-sacs may be developed in accordance with the standards set forth in the PUD Guide. Any provision in Title 15 or elsewhere in the Municipal Code that conflicts with the provisions of the PUD Guide regarding the maximum number of Dwelling Units (as defined in the PUD Guide) that can be constructed on a cul-de-sac shall not apply to the Project. (H) Section 3.7(e) Community Housing Dedication. A new Section 3.7(e) is inserted to read in its entirety as follows: (e) Community Housing Dedications. Pursuant and subject to the PUD Guide, and as depicted in the PUD Master Plan, Master Landowner has caused the Dedication to the Town and the Town has acquired title to and granted Final Acceptance of the land within Planning Areas CH-1 and CH-2 for the Town’s intended use of such parcels as Community Housing Units to be owned, operated and managed by the Town. Master Landowner consents to the Town’s use of the land in Planning Areas CH-1 and CH-2 in accordance with the terms, conditions, requirements and restrictions set forth in the PUD Guide and this Section 3.7(e). (i) Planning Area CH-1. Planning Area CH-1 consists of: (1) Lot 8, Third Amended Final Plat, Amended Final Plat, The Village (at Avon) Filing 1, A Resubdivision of Lot 1, Recorded at Reception No. 2019013092, being an approximately 0.51-acre Site which previously was within Planning Area D; and (2) a portion of Lot 3, Second Amended Final Plat, Amended Final Plat, The Village (at Avon) Filing 1, A ATTACHMENT D 5 4199881.6 Resubdivision of Lot 1, Recorded at Reception No. 201412782, which Lot 3 was the 3.536-acre Site designated as Planning Area E and comprised that part of the School Site Dedication described in Section 3.7(a)(i)(A). The inclusion of that portion of Lot 3 described in the foregoing clause (2) shall not be construed as negating full satisfaction of the School Site Dedication described in Section 3.7(a)(i)(A) nor shall it be construed as increasing or otherwise modifying that portion of the School Site Dedication described in Section 3.7(a)(i)(B). The use restriction described in Section 3.7(a)(i)(A) shall not apply to the land within Planning Area CH-1, which land shall be subject to the restriction that it be used for the Town’s intended development of Community Housing Units to be owned, operated and managed by the Town in accordance with the terms, conditions, requirements and restrictions set forth in the PUD Guide and this Section 3.7(e). Following the First Amendment Effective Date, Traer Creek Holdings No. 1 LLC shall convey Lot 8, Third Amended Final Plat, Amended Final Plat, The Village (at Avon) Filing 1, A Resubdivision of Lot 1, Recorded at Reception No. 2019013092 to the Town by special warranty deed, in the form attached as Exhibit B to this Development Agreement. Such special warranty deed shall contain the use restriction contemplated by this Section 3.7(e)(i). (ii) Planning Area CH-2. Master Landowner previously caused conveyance of Lot 5, Final Plat, The Village (at Avon) Filing 1 to the Town, being an approximately 4.03-acre Site which previously comprised Planning Area PF-1 and was Dedicated to and granted Final Acceptance by the Town in satisfaction of the Public Works Dedication (as defined in the Original Agreement) obligation pursuant to Section 4.3 of the Original Agreement. The designation of Lot 5 as Planning Area CH-2 and the Town’s use thereof for development of Community Housing Units to be owned, operated and managed by the Town shall not be construed as negating full satisfaction of the Public Works Dedication obligation described in Section 4.3 of the Original Agreement nor shall it be construed as requiring any further land Dedications in satisfaction of the Public Works Dedication obligation. Said Lot 5 shall be subject to the restriction that it be used for the Town’s intended development of Community Housing Units to be owned, operated and managed by the Town in accordance with the terms, conditions, requirements and restrictions set forth in the PUD Guide and this Section 3.7(e). (I) Section 8.12 Notices. Section 8.12 is amended and restated to read in its entirety as follows: 8.12 Notices. All approvals, consents, notices, objections, and other communications (a “Notice” and, collectively, “Notices”) under this Development Agreement shall be in writing and shall be deemed properly given and received when personally delivered, or sent by overnight courier (such as UPS or FedEx), or by email (pdf), addressed to the respective Parties, Limited Parties or Intended Beneficiaries at their respective addresses as set forth below. Notices shall be deemed effective: (i) if personally delivered, when actually given and received; or (ii) if by overnight courier service, on the next business day following deposit with such courier service; or (iii) if by email (pdf), on the same day if sent before 5:00 P.M. Mountain Time, or on the next business day if sent after 5:00 P.M. Mountain Time. No Notices shall be sent via United States mail. All Notices shall be addressed as follows (or to such other address as may be subsequently specified by Notice given in accordance herewith): ATTACHMENT D 6 4199881.6 To the Town: Town of Avon 100 Mikaela Way Avon, Colorado 81620 Attention: Town Manager Telephone: (970) 748-4004 Email: eheil@avon.org With a required copy to: Town of Avon 100 Mikaela Way Avon, Colorado 81620 Attention: Town Attorney Telephone: (303) 376-8512 Email: nina@wwfdlaw.com To TCMD: Traer Creek Metropolitan District 2001 16th Street, Suite 1700 Denver, CO 80202 Attn: Denise Denslow, CliftonLarsonAllen LLP Telephone: (303) 779-5710 Email: denise.denslow@claconnect.com With a required copy to: Spencer Fane 1700 Lincoln Street, Suite 2000 Denver, Colorado 80203 Attn: David S. O’Leary Telephone: (303) 839-3952 Email: doleary@spencerfane.com To VMD: The Village Metropolitan District 2001 16th Street, Suite 1700 Denver, CO 80202 Attn: Denise Denslow, CliftonLarsonAllen LLP Telephone: (303) 779-5710 Email: denise.denslow@claconnect.com With a required copy to: Spencer Fane ATTACHMENT D 7 4199881.6 1700 Lincoln Street, Suite 2000 Denver, Colorado 80203 Attn: David S. O’Leary Telephone: (303) 839-3952 Email: doleary@spencerfane.com To Master Landowner: Traer Creek LLC 0101 Fawcett Road, Suite 210 Avon, CO 81620 Attn: Marcus Lindholm, Manager Telephone: (970) 949-6776 Email: marcuslindholm@traercreek.com With required copies to: Traer Creek LLC 0101 Fawcett Road, Suite 210 Avon, CO 81620 Attn: Michael Lindholm Telephone: (970) 949-6776 Email: michaellindholm@traercreek.com And to: Otten, Johnson, Robinson, Neff & Ragonetti, P.C. 950 17th Street, Suite 1600 Denver, Colorado 80202 Attention: Munsey L. Ayers [270412-0004] Telephone: 303.825.8400 Email: munsey@ottenjohnson.com EMD Limited Liability Company c/o Lava Corporation 0101 Fawcett Road, Suite 210 Avon, CO 81620 Attn: Michael Lindholm, President Telephone: (970) 949-6776 Email: michaellindholm@traercreek.com ATTACHMENT D 8 4199881.6 With a required copy to: Otten, Johnson, Robinson, Neff & Ragonetti, P.C. 950 17th Street, Suite 1600 Denver, Colorado 80202 Attention: Munsey L. Ayers [270412-0004] Telephone: 303.825.8400 Email: munsey@ottenjohnson.com To the Limited Parties: Avon Urban Renewal Authority 100 Mikaela Way Avon, Colorado 81620 Attention: Town Manager Telephone: (970) 748-4004 Email: eheil@avon.org With a required copy to: Avon Urban Renewal Authority 100 Mikaela Way Avon, Colorado 81620 Attention: Town Attorney Telephone: (303) 376-8512 Email: nina@wwfdlaw.com The Village (at Avon) Mixed-Use Public Improvement Company 2001 16th Street, Suite 1700 Denver, CO 80202 Attn: Denise Denslow, CliftonLarsonAllen LLP Telephone: (303) 779-5710 Email: denise.denslow@claconnect.com With a required copy to: Otten, Johnson, Robinson, Neff & Ragonetti, P.C. 950 17th Street, Suite 1600 Denver, Colorado 80202 Attention: Munsey L. Ayers [270412-0004] Telephone: 303.825.8400 Email: munsey@ottenjohnson.com ATTACHMENT D 9 4199881.6 The Village (at Avon) Commercial Public Improvement Company 2001 16th Street, Suite 1700 Denver, CO 80202 Attn: Denise Denslow, CliftonLarsonAllen LLP Telephone: (303) 779-5710 Email: denise.denslow@claconnect.com With a required copy to: Otten, Johnson, Robinson, Neff & Ragonetti, P.C. 950 17th Street, Suite 1600 Denver, Colorado 80202 Attention: Munsey L. Ayers [270412-0004] Telephone: 303.825.8400 Email: munsey@ottenjohnson.com To the Intended Beneficiaries: Affiliated Landowners c/o Traer Creek LLC [Utilizing the Master Landowner contact and required copy information set forth above.] (J)Exhibit A Legal Description. Exhibit A is amended and replaced in its entirety with Exhibit A attached to this First Amendment. (K)Exhibit F Amended Defined Terms. Paragraphs 24, 45, 52, 54, 92, 93, and 129 of Exhibit F are amended and restated in their entirety to read as follows: 24.Block 3 means Block 3, Final Plat, Avon Landing, a Replat of Tract H, The Village (at Avon), Filing No. 3, Recorded on September 3, 2015, at Reception No. 201516730, such parcel being located within PA-J. 42.Design Review Guidelines means the sole and exclusive architectural design, landscape design, urban design and Site design and use standards applicable within the Property as set forth in The Village (at Avon) Design Review Guidelines with an effective date of November 16, 2022, together with any amendment(s) the Design Review Board may approve after providing notice thereof in accordance with Section 3.1, as prepared, approved and promulgated by the Design Review Board from time to time. 44.Affiliated Landowner(s) means, individually or collectively as the context dictates, TC RP, TC Plaza, TC HD and TC WMT, together with any other entity with respect to which TCLLC or EMD is the managing member and which acquires title to any portion of the Property after the Execution Date. 45.Development Agreement means the Consolidated, Amended and Restated Annexation and Development Agreement for The Village (at Avon) Recorded on August 1, 2014, at Reception No. 201412777, as amended by this First Amendment. ATTACHMENT D 10 4199881.6 52. Effective Date means August 1, 2014. 54. Execution Date means October 22, 2013. 66. Master Landowner means EMD (with respect to Planning Area I only) and TCLLC (in all other respects), which entities (or any successor entities), as more specifically described in Section 1.7, are designated and authorized to act on behalf of all Developer Affiliates. 92. PUD Master Plan means The Village (at Avon) P.U.D. Master Plan dated [_____________, 2025] attached as Exhibit B to the PUD Guide, as amended from time to time, which constitutes the approved sketch plan and master plan for development within the Property. 93. PUD Guide means The Village (at Avon) Third Amended and Restated PUD Guide (and all exhibits thereto, including but not limited to the PUD Master Plan) dated [_____________, 2025], as amended from time to time. 129. Vesting Term means the Primary Vesting Term and the Mountainside Vesting Term. (L) Exhibit F Additional Defined Terms. Exhibit F to the Development Agreement is amended to add the following: 28.1 CARADA has the meaning set forth in Recital A of the First Amendment. 29.1 Community Housing Units has the meaning set forth in the PUD Guide. 57.1 First Amendment means the First Amendment to the Consolidated, Amended and Restated Annexation and Development Agreement for The Village (at Avon). 57.2 First Amendment Effective Date means the date on which the First Amendment is Recorded. 57.3 First Amendment Execution Date has the meaning set forth in the initial paragraph of the First Amendment. 66.1 Mountainside Vesting Term has the meaning set forth in Section 1.4(a)(ii). 84.1 Primary Vesting Term has the meaning set forth in Section 1.4(a)(i). III. Authority to Amend; Vesting of Property Rights. In accordance with the terms and conditions of Section 1.5, the Town’s approval of this First Amendment is subject to the public notice and public hearing procedures that were required for approval of the CARADA. Because the Development Agreement constitutes a Site Specific Development Plan which establishes vested property rights pursuant to the Vested Property Rights Statute, and because this First Amendment is an amendment thereto, the Town shall adopt an ordinance approving this First Amendment and shall cause publication of the notice described in Section 24-68-103(1)(c) of the Vested Property Rights Statute. Pursuant to Section 7.16.140(d) of the Municipal Code: ATTACHMENT D 11 4199881.6 Approval of the Development Plan constitutes a vested property right pursuant to Article 68 of Title 24, C.R.S., as amended, and Title 7, Chapter 16, of the Avon Municipal Code as amended. IV.Effect of Amendment. Except as expressly modified by this First Amendment, the Development Agreement is unmodified, and is hereby ratified and affirmed, and shall remain in full force and effect in accordance with its terms. If there is any inconsistency between the terms of the Development Agreement and the terms of this First Amendment, the provisions of this First Amendment shall govern and control. V.Binding Effect. Upon Recording, this First Amendment shall inure to the benefit of and be binding upon the Parties, Limited Parties, and Affiliated Landowners. VI.Governing Law. This First Amendment shall be governed by and construed in accordance with the laws of the State of Colorado. VII.Counterparts. This First Amendment may be executed in one or more counterparts, each of which shall be deemed to be an original, and all such counterparts taken together shall constitute one and the same instrument. The electronic or pdf signature of any party on this First Amendment shall be deemed an original for all purposes. IN WITNESS WHEREOF, the Town, TCMD, and Master Landowner have executed this First Amendment as of the First Amendment Execution Date, with the intent that this First Amendment shall be legally binding on all Parties and legally attach to and encumber the Property upon the occurrence of the First Amendment Effective Date. [SIGNATURE AND EXHIBIT PAGES FOLLOW THIS PAGE] ATTACHMENT D 12 Town Signature Page to First Amendment to Consolidated, Amended and Restated Annexation and Development Agreement 4199881.6 TOWN: THE TOWN OF AVON, a home rule municipal corporation of the State of Colorado By: Name: Title: Approved as to legal form by: Nina Williams, Esq., Town Attorney STATE OF COLORADO ) ) ss. COUNTY OF EAGLE ) The foregoing instrument was acknowledged before me this ____ day of _________, 2025, by _____________________ as __________________ of THE TOWN OF AVON, a home rule municipal corporation of the State of Colorado. WITNESS my hand and official seal. My commission expires: ___________ Notary Public (SEAL) ATTACHMENT D 13 TCMD Signature Page to First Amendment to Consolidated, Amended and Restated Annexation and Development Agreement 4199881.6 TCMD: TRAER CREEK METROPOLITAN DISTRICT, a quasi-municipal corporation and political subdivision of the State of Colorado By: Name: Eric Applegate Title: President STATE OF COLORADO ) ) ss. COUNTY OF EAGLE ) The foregoing instrument was acknowledged before me this ____ day of _________, 2025, by Eric Applegate as President of TRAER CREEK METROPOLITAN DISTRICT, a quasi- municipal corporation and political subdivision of the State of Colorado. WITNESS my hand and official seal. My commission expires: ___________ Notary Public (SEAL) ATTACHMENT D 14 Master Landowner Signature Page to First Amendment to Consolidated, Amended and Restated Annexation and Development Agreement 4199881.6 MASTER LANDOWNER: TRAER CREEK LLC, a Colorado limited liability company By: Name: Marcus Lindholm Title: Manager STATE OF ____________ ) ) ss. COUNTY OF __________ ) The foregoing instrument was acknowledged before me this ____ day of _________, 2025, by Marcus Lindholm as Manager of TRAER CREEK LLC, a Colorado limited liability company. WITNESS my hand and official seal. My commission expires: ___________ Notary Public (SEAL) ATTACHMENT D 15 Master Landowner Signature Page to First Amendment to Consolidated, Amended and Restated Annexation and Development Agreement 4199881.6 MASTER LANDOWNER: EMD LIMITED LIABILITY COMPANY, a Colorado limited liability company By: Lava Corporation, a Colorado corporation, its Manager By: Name: Michael Lindholm Title: President STATE OF COLORADO ) ) ss. COUNTY OF EAGLE ) The foregoing instrument was acknowledged before me this ____ day of _________, 2025, by Michael Lindholm as President of Lava Corporation, a Colorado corporation, Manager of EMD LIMITED LIABILITY COMPANY, a Colorado limited liability company. WITNESS my hand and official seal. My commission expires: ___________ Notary Public (SEAL) ATTACHMENT D Exhibit A Page 1 4199881.6 EXHIBIT A Legal Description of the Property WEST PARCEL Lot 1, Lot 2, Lot 3, Lot 4, Lot 5, Tract A, Tract B, Tract C, Tract D, Tract E, Tract F, Tract G and Tract H The Village (at Avon) Filing 2 according to the Final Plat of The Village (at Avon) Filing 2 recorded on May 28, 2002 at Reception No. 796831. STOLPORT Lot 2, Lot 3, Lot 4, Tract B and Tract E The Village (at Avon) Filing 1 According to the Final Plat The Village (at Avon) Filing 1 recorded on May 8, 2002 at Reception No. 795009. Lot 5, Lot 6, Tract A, Tract C, Tract D, Tract F and Tract G The Village (at Avon) Filing1 According to the Amended Final Plat The Village (at Avon) Filing 1 recorded November 18, 2004 at Reception No. 898173 Lot 2 and Lot 3 Amended Final Plat, The Village (at Avon) Filing 1 - A Resubdivision of Lot 1 According to the Second Amended Final Plat – Amended Final Plat, The Village (at Avon) Filing 1- A Resubdivision of Lot 1 recorded August 1, 2014 at Reception No. 201412782. Lot 7, Lot 8 and Tract H Amended Final Plat, The Village (at Avon) Filing 1 - A Resubdivision of Lot 1 According to the Third Amended Final Plat – Amended Final Plat, The Village (at Avon) Filing 1 - A Resubdivision of Lot 1 recorded August 15, 2019 at Reception No. 201913092. Lot 1, Lot 9, Tract H-1, Tract I and Tract F-1 Amended Final Plat, The Village (at Avon) Filing 1 - A Resubdivision of Lot 1 According to the Fourth Amended Final Plat – Amended Final Plat, The Village (at Avon) Filing 1 - A Resubdivision of Lot 1 recorded March 13, 2024 at Reception No. 202402670. Town of Avon Eagle County, Colorado SOUTH PARCEL A (North of Railroad right-of-way) That part of the NE 1/4 of Section 17, Township 5 South, Range 81 West of the Sixth Principal Meridian, Eagle County, Colorado, according to the Dependent Resurvey of said Township and Range, accepted November 1, 1943 by the Department of the Interior General Land Office in Washington, D.C., lying north of the Denver & Rio Grande Western Railroad right-of-way line, described as follows: Beginning at the N 1/4 corner of said Section 17; thence S89°23'36"E 526.76 feet, along the northerly line of said NE 1/4 of Section 17, to the northerly right-of-way line of the Denver & Rio Grande Western Railroad; thence, departing said northerly line of Section 17, the following two courses along the northerly ATTACHMENT D Exhibit A Page 2 4199881.6 right-of-way line of the Denver & Rio Grande Western Railroad, said northerly right-of-way line being parallel with and 50 feet northerly of the centerline of the existing railroad tracks: (1) S80°36'27"W 267.66 feet; (2) 263.93 feet along the arc of a curve to the right, having a radius of 2486.03 feet, a central angle of 06°04'58", and a chord which bears S83°38'57"W 263.81 feet, to the westerly line of said NE 1/4 of Section 17; thence N00°20'55"W 78.44 feet, along said westerly line, to the point of beginning containing 0.53 acres, more or less. SOUTH PARCEL B (South of Railroad right-of-way) That part of the NE 1/4 of Section 17, Township 5 South, Range 81 West of the Sixth Principal Meridian, Eagle County, Colorado, according to the Dependent Resurvey of said Township and Range, accepted November 1, 1943 by the Department of the Interior General Land Office in Washington, D.C., lying south of the Denver & Rio Grande Western Railroad right-of-way line and north of the centerline of the Eagle River, described as follows: Beginning at the Northeast corner of said Section 17; thence S01°41'49"E 96.93 feet, along the easterly line of said Section 17, to the True Point of Beginning; thence, continuing along said easterly line, S01°41'49"E 73.07 feet, to the centerline of said Eagle River; thence the following four courses along said centerline (Filum aquce): (1) N89°24'49"W 1037.9 feet; (2) N86°07'49"W 472.00 feet; (3) N89°29'49"W 538.00 feet; (4)S82°33'11"W 595.15 feet, to the westerly line of said NE 1/4; thence N00°20'55"W 49.18 feet, along said westerly line to the southerly right-of-way line of the Denver & Rio Grande Western Railroad; thence, departing said westerly line of Section 17, the following five courses along the southerly right-of-way line of the Denver & Rio Grande Western Railroad, said southerly right-of-way line being parallel with and 50 feet southerly of the centerline of the existing railroad tracks: (1) 279.72 feet along the arc of a curve to the left, having a radius of 2586.03 feet, a central angle of 06°11'51", and a chord which bears N83°42'23"E 279.58 feet; (2) N80°36'27"E 350.86 feet; (3) 686.44 feet along the arc of a curve to the right, having a radius of 3171.27 feet, a central angle of 12°24'07", and a chord which bears N86°48'31"E 685.10 feet; (4)S86°59'25"E 1216.38 feet; (5) 112.54 feet along the arc of a curve to the right, having a radius of 2549.33 feet, a central angle of 02°31'46". and a chord which bears S85°43'31"E 112.53 feet, to the True Point of Beginning, containing 5.28 acres, more or less. TRACT M Those parts of Sections 8 and 9, Township 5 South, Range 81 West of the Sixth Principal Meridian, Eagle County, Colorado, according to the Dependent Resurvey of said Township and Range, accepted November 1, 1943, by the Department of the Interior General Land Office in Washington, D.C., described as a whole as follows: Beginning at the W 1/16 corner of said Section 9 and Section 16 of said Township and Range; thence N89°55'04"W 1371.96 feet, along the southerly line of said SW 1/4 SW 1/4 to the Section corner of said Sections 8, 9, and 16 and Section 17 of said Township and Range; thence N01°32'00"E 3.82 feet, along the westerly line of said Section 9, to the northerly right-of-way line of the Denver & Rio Grande Western Railroad, said northerly right-of-way line being parallel with and 50 feet northerly of the centerline of the existing railroad tracks; thence the following two courses along said northerly right-of-way line: (1) 104.48 feet along the arc of a curve to the left, having a radius of 2649.33 feet, a central angle of 02°15'34", and a chord which bears N85°51'36"W 104.47 feet; (2) N86°59'25"W 1213.28 feet, to the westerly line of the SE 1/4 SE 1/4 of said Section 8; thence N00°51'07"E 717.58 feet, along said westerly line; thence, departing said westerly line, S89°55'04"E 2698.45 feet, to the easterly line of the SW 1/4 SW 1/4 of said Section 9, thence, along said easterly line, S01°33'13"W 790.94 feet, to the point of beginning, containing 47.70 acres, more or less. ATTACHMENT D Exhibit A Page 3 4199881.6 REVISED EAST PARCEL (Minus Tract M) Those parts of Sections 7, 8, 9 & 10, Township 5 South, Range 81 West of the Sixth Principal Meridian, Eagle County, Colorado, according to the Dependent Resurvey of said Township and Range, accepted November 1, 1943 by the Department of the Interior General Land Office in Washington, D.C., described as a whole as follows: Beginning at the Northwest corner of said Section 8; thence the following four courses along the northerly line of said Section 8: (1) N88°40'41"E 1379.49 feet, to the W 1/16 corner of said Section 8 and Section 5 of said Township and Range; (2) N88°40'41"E 1379.49 feet, to the 1/4 corner of said Sections 8 and 5; (3) N88°42'58"E 1385.36 feet, to the E 1/16 corner of said Sections 8 and 5; (4) N88°42'58"E 1385.36 feet, to the corner of said Sections 5, 8 and 9 and Section 4 of said Township and Range; thence the following four courses along the northerly line of said Section 9: (1) N83°29'30"E 1386.63 feet, to the W 1/16 corner of said Sections 9 and 4; (2) N83°29'30"E 1386.64 feet, to the 1/4 corner of said Sections 9 and 4; (3) N83°24'12"E 1386.30 feet, to the E 1/16 corner of said Sections 9 and 4; (4) N83°24'12"E 1386.30 feet, to the corner of said Sections 4, 9 and 10 and Section 3 of said Township and Range; thence the following two courses along the northerly line of said Section 10: (1) N86°39'24"E 1381.29 feet, to the W 1/16 corner of said Sections 10 and 3; (2) N86°39'24"E 1299.94 feet; thence, departing said northerly line, S01°34'07"W 2699.66 feet, to the east-west centerline of said Section 10; thence, along said east-west centerline, S86°32'23"W 1304.06 feet, to the W 1/16 corner of said Section 10; thence S01°32'50"W 1349.33 feet, along the easterly line of the NW 1/4 SW 1/4 of said Section 10, to the SW 1/16 corner of said Section 10; thence S86°32'47"W 1384.91 feet, along the southerly line of said NW 1/4 SW 1/4, to the S 1/16 corner of said Sections 10 and 9; thence S77°10'15"W 1413.37 feet, along the southerly line of the NE 1/4 SE 1/4 of said Section 9, to the SE 1/16 corner of said Section 9; thence S01°33'02"W 1475.32 feet, along the easterly line of the SW 1/4 SE 1/4 of said Section 9, to the E 1/16 corner of said Section 9 and Section 16 of said Township and Range; thence S72°20'31"W 1450.43 feet, along the southerly line of said SW 1/4 SE 1/4, to the 1/4 corner of said Sections 9 and 16; thence N01°34'18"E 1601.52 feet, to the CS 1/16 corner of said Section 9; thence S86°07'30"W 1378.19 feet, along the southerly line of the NE 1/4 SW 1/4 of said Section 9, to the SW 1/16 corner of said Section 9; thence S01°33'13"W 715.42 feet, along the easterly line of the SW 1/4 SW 1/4 of said Section 9; thence, departing said easterly line, N89°55'04"W 2698.45 feet, to the westerly line of the SE 1/4 SE 1/4 of said Section 8; thence N00°51'07"E 620.19 feet, along said westerly line, to the SE 1/16 corner of said Section 8; thence N89°54'54"W 1333.58 feet, along the southerly line of the NW 1/4 SE 1/4 of said Section 8, to the CS 1/16 corner of said Section 8; thence N89°58'35"W 1366.46 feet, along the southerly line of the NE 1/4 SW 1/4 of said Section 8, to the SW 1/16 corner of said Section 8; thence S00°01'37"E 919.47 feet, along the easterly line of the SW 1/4 SW 1/4 of said Section 8, to the northerly right-of-way line of Interstate Highway No. 70, as described in the deed recorded in Book 223 at Page 982 in the office of the Eagle County, Colorado, Clerk and Recorder; thence the following ten courses along said northerly right-of-way line: (1) N65°30'20"W 249.79 feet; (2) N78°47'50"W 317.2 feet; (3) N83°08'20"W 506.7 feet; (4) 772.2 feet along the arc of a curve to the right, having a radius of 1462.0 feet, a central angle of 30°15'52", and a chord which bears N54°57'56"W 763.3 feet; (5) N34°37'50"W 331.1 feet; (6) N34°44'20"W 368.5 feet; (7) 804.9 feet along the arc of a curve to the left, having a radius of 1812.0 feet, a central angle of 25°27'04", and a chord which bears N51°29'50"W 798.3 feet; (8) N68°24'50"W 399.7 feet; (9) N49°47'20"W 213.6 feet; (10) N70°20'50"W 765.1 feet, to the northerly line of the SE 1/4 of said Section 7; thence the following two courses along said northerly line: (1) N89°50'40"E 1194.46 feet, to the CE 1/16 corner of said Section 7; (2) N89°50'40"E 1378.25 feet, to the 1/4 corner of said Sections 7 and 8; thence the following two courses along the westerly line of said Section 8: (1) N00°10'53"W 1369.09 feet, to the S 1/16 corner of said Sections 7 and 8; thence N00°10'53"W 1369.10 feet, to the point of beginning, containing 1421.24 acres, more or less. ATTACHMENT D Exhibit A Page 4 4199881.6 A PORTION OF WHICH “REVISED EAST PARCEL (Minus Tract M)” HAS BEEN PLATTED AND/OR REPLATTED AS: Tract A, Tract D, Tract E and Tract G The Village (at Avon) Filing 3 According to the Final Plat The Village (at Avon) Filing 3 recorded on June 29, 2004 at Reception No. 882176. Tract F The Village (at Avon) Filing 3 – A Reconfiguration of Tracts B and F According to the Amended Final Plat The Village (at Avon) Filing 3– A Reconfiguration of Tracts B and F recorded on May 9, 2007 at Reception No. 200712166. Block 2, Block 3, Block 4, Tract H-1, Tract H-2, Tract H-3, Tract I-1, Tract I-2, Tract I-3, Tract I- 4 and Road A Avon Landing, a Replat of Tract H - The Village (at Avon) Filing No. 3 According to the Final Plat Avon Landing, a Replat of Tract H - The Village (at Avon) Filing No. 3 recorded on September 3, 2015 at Reception No. 201516730. Tract I and Tract J The Village (at Avon) Filing 4 According to the Final Plat The Village (at Avon) Filing 4 recorded on March 27, 2015 at Reception No. 201505284. Tract B and Tract I Amended Final Plat Tracts B and I, The Village (at Avon) Filing 3, Second Amended Final Plat a Resubdivision of Tract B recorded on May 20, 2022, at Reception No. 202209167. Lot 1 and Lot 2, Outlot A and Outlot B Amended Final Plat, Stolport Station, A Replat of Block 1, Avon Landing, A Replat of Tract H, The Village (at Avon) Filing 3 recorded on November 5, 2021, at Reception No. 202125052. LESS AND EXCEPTING FROM THE ABOVE DESCRIBED REVISED EAST PARCEL (minus Tract M): Parcel Number: 1 as conveyed to the Department of Transportation, State of Colorado by Special Warranty Deed dated September 26, 2003, recorded October 6, 2003, at Reception No. 852794, which Parcel Number: 1 is depicted on the Final Plat, The Village (at Avon) Filing 3, recorded on June 29, 2004, at Reception No. 882176, which Parcel Number: 1 is noted on such plat as Tract C, NOT A PART OF THIS PLAT, 6.732 ACRES. ATTACHMENT D 970.748.4088 predmond@avon.org TO: Planning and Zoning Commission Members FROM: Paul Redmond, Chief Financial Officer RE: Village (at Avon) Financial Overview DATE: October 31, 2025 SUMMARY: This is an informative report on the financial aspect of the Consolidated, Amended and Restated Annexation and Development Agreement for the Village (at Avon) (“CARADA”). This report provides a general overview of the tax credit financial structure of the CARADA, an update on recent issuance of debt, and current status of outstanding debt and debt repayment. In 2013, the CARADA approved a tax credit and agreed to waive certain taxes to support development of public infrastructure. The agreement includes the 4% Sales Tax, 4% Lodging Tax, 2% Real Estate Transfer Tax, and Avon’s water tap fees ($4,000 per single family equivalent). Following this agreement, public improvements have been financed and developed by Traer Creek Metropolitan District. Traer Creek Metropolitan District is a thirty-five acre Service District and is controlled by Traer Creek LLC and/or its affiliates, which grants an undivided interest in this parcel to whomever it chooses for the TCMD Board of Directors. The Village Metropolitan District is the “working metro district” and encompasses the remainder of the Village (at Avon) PUD property. Under an intergovernmental agreement, TCMD prepares VMD’s annual budget. TCMD manages municipal bond financing, private Developer Advance loans, and construction of Public Improvements within the VMD service area. The financial structure for the construction of Public Improvements is as follows: •Traer Creek created a Residential Public Improvement Company and Commercial Public Improvement Company, known as “PICs”. •The covenants for the Village (at Avon) allow the PICs to impose a “Retail Sales Fee”, “Accommodations Fee”, and a “Real Estate Transfer Fee”, known as Public Improvement Company Fees (“PIC Fees”). These fees are imposed by private covenant between Traer Creek and whomever purchases property or leases property within the Village (at Avon). •The CARADA states that Avon shall provide a credit for Avon’s Sales Tax, Accommodations Tax and Real Estate Transfer Tax so long as the PIC Fees are in place. The CARADA also states that the Town shall pledge the Town’s $4,000 water tap fee per single family equivalent unit. •The PICs pledge the PIC Fees by contract to Traer Creek Metropolitan District. •Traer Creek Metropolitan District uses the pledged PIC Fees as the revenue stream to support the issuance of tax-exempt municipal bonds as well as for the repayment of past Development Advances. The 2012 Settlement resulted in the CARADA. This new agreement capped the amount of debt eligible for repayment through Avon’s Tax Credits at $96,000,000 in principal. The recent 2025 TCMD bond issuance issued the remaining amount of the $96M Credit PIF Cap. The existing balance of outstanding debt, including both principal and accrued interest on past Developer Advances, is $76.5M. Since 2003 when WalMart and Home Depot first opened, the Retail Sales Fee has ATTACHMENT E Page 2 of 8 been the principal revenue source. Water tap fees are only paid once at the time a building permit is issued, and Real Estate Transfer Fees have been minimal due to lack of condominium development and limited property transfers. In 2024, the Retail Sales Fee generated $5,759,133 while water tap fees and Real Estate Transfer Fees have only generated $1,359,650 and $303,024, respectively, since the inception of the agreement. The first Accommodations Fees began in 2024 with the completion of the dual-brand hotel. We estimate the annual revenue from all PIC Fees will be approximately $6M per year. Credit PIF Principal Cap $96,000,000.00 Capital Projects Amount Year Refinance of Original Bonds: I-70 Interchange, Post Blvd. connection to US6, Utilities, Traer Creek Plaza Garage $52,100,000.00 2014 Traer Creek Water Storage Tank $ 7,200,000.00 2014 Past Developer Advances $12,047,736.00 2006-2011 Developer Asphalt Overlay Contributions $ 114,745.50 2015-2017 PA-J Wagon Wheel Trail $ 2,720,382.93 2019 Unearmarked Funds $ 3,000,000.00 2019 Asphalt-Wagon Trail Road $ 170,483.58 2021 EBCB Phase I/Nottingham Ditch $ 1,793,777.20 2021 EBCB Phase 1 Continuation $ 3,290,543.55 2024 Crescent Hill Road $ 4,346,536.02 2024 2025 Series Revenue Bonds $ 8,962,389.28 2025 $96,000,000.00 Remaining Credit PIF Principal Cap $ 0.00 Debt Balances: 10-31-2025 (Projected) Amount Interest Rate Developer Advances $ 3,522,309.00 1.5% Interest on Developer Advances $1,893,258.21 TOTAL DEVELOPER ADVANCES $5,415,567.21 Past Bonds (I-70 Interchange, Post Blvd., Traer Creek Plaza Parking, Water Tank) $43,105,000.00 4.15-5.0% Series 2025 Revenue Bonds $27,940,000.00 6.5% Remaining Credit PIF Principal Cap $0.00 TBD TOTAL OUTSTANDING AND REMAINING DEBT BALANCE 10-2025 $76,460,567.21 ATTACHMENT E Page 3 of 8 OUTSTANDING DEBT: The current outstanding debt is comprised of the remaining Past Developer Advances, 2020 Bonds, and 2025 Bonds. Developer Advances include private debt financing provided by the Developer from 2003 through 2011. The 2020 Bonds refinanced the outstanding debt from early public improvements, including the remaining Past Developer Advances that were accruing interest at 8%, and issued additional debt for new public improvements. Early public improvements included the construction of the I-70 interchange and construction of Post Boulevard including the crossing under the rail road tracks, construction of the Traer Creek Plaza parking garage, and then as part of the 2012 Settlement, construction of the water storage tank. Recent public improvements include Phase I and Phase II of the East Beaver Creek Boulevard improvements and construction of Wagon Trail Road. These improvements also include, the HWY 6 roundabout, Faucet Road, Yonder Road, the northern roundabout/Swift Gulch Road, and installation of water, sanitary sewer and stormwater infrastructure within those roadways to serve the Home Depot, Walmart, and Traer Creek Plaza. The Series 2025 Revenue Bonds, issued in September of 2025, utilized the remaining $8,692,389 in unissued Credit PIF Principal Cap to fund future infrastructure and pay down old, high interest (8%) developer advances. Bond debt must be repaid annually according to a fixed payment schedule established at the time of issuance while past Developer Advances are subject to simple interest and continue to accrue until paid down. The CARADA details a priority payment structure for outstanding debts and sets an annual Operation and Maintenance Budget for Traer Creek Metropolitan District of $450,000 per year. CARADA, Exhibit F. 14. After annual bond payments and funding of general operations and maintenance, any remaining funds must be applied toward outstanding Developer Advances. Due to the financial health of Traer Creek Metropolitan District, a payment of $9,077,575 was made in 2023 to reduce the balance on the 2003 Funding and Reimbursement Agreement. This payment included $3,476,751.84 in principal and $5,600,823.86 in accrued interest. Current Outstanding Developer Advances Principal Current Total Total Description Amount Interest Rate Accrued Interest Outstanding 2003 Funding Agreement 1,541,784.00 1.50% - 1,541,784.00 2006 Operations Funding Agreement 576,310.00 1.50% 458,317.28 1,034,627.28 2007 Operations Funding Agreement 841,980.00 1.50% 589,185.79 1,431,165.79 2008 Operations Funding Agreement 279,116.00 1.50% 178,106.04 457,222.04 2009 Operations Funding Agreement 87,694.00 1.50% 45,874.38 133,568.38 2010 Operations Funding Agreement 122,743.00 1.50% 54,389.72 177,132.72 2011 Operations Funding Agreement 72,682.00 1.50% 26,392.00 99,074.00 Total Outstanding Developer Advances 3,522,309.00 1,352,265.21 4,874,574.21 ATTACHMENT E Page 4 of 8 Developer Advances Paid since 2023 Description Principal Amount Interest Rate Total Accrued Interest Total Paid 2003 Funding and Reimbursement Agreement (2023) 3,476,751.84 8.00% 5,517,000.63 8,993,752.47 2003 Funding and Reimbursement Agreement (2025) 1,018,889.00 8.00% 3,108,211.98 4,127,100.98 2005 Buffalo Ridge (2025) 4,029,786.00 8.00% 6,610,394.71 10,640,180.71 2003 Funding and Reimbursement Agreement (Interest Only in 2025) 0.00 1.50% 254,395.25 - Total Developer Advances Payments 8,525,426,84 15,490,002.56 23,761,034.16 The outstanding Developer Advances, previously accruing 8% annual interest, were refinanced through the Series 2025 Revenue Bonds. Prioritizing repayment of these advances helps reduce ongoing interest costs. The 2020 Bonds annual payment is $2,875,895. The payment schedule slowly increases through 2049 to $3,076,500 and may vary due to the terms which allow a variable interest rate between 4.15% and 5%. The Series 2025 Revenue Bonds require annual interest-only payments of approximately $1.6 million through 2048. Beginning in 2049, annual payments will increase to about $4.6 million. The bonds are callable starting in 2030. Assuming PIC Fees from existing development total at least $6,000,000 annually beginning in 2026, the projected use of revenues would include approximately $3,000,000 for the 2020 Bond, $1,606,550 for the 2025 Bond, and $450,000 for Traer Creek Metropolitan District’s annual operations. This would leave an estimated $900,000 per year available to pay down outstanding debt obligations. COST TO TOWN: Avon has an obligation to provide Municipal Services. Paragraph 4.1 of the CARADA states, 4.1 Municipal Services. The Town shall have the ongoing responsibility and obligation to provide all municipal services to the Property and the Project including, without limitation, police protection, snow removal and road maintenance, maintenance (including repair and replacement) of streetscape improvements and landscaping within public road rights-of-way, bus transportation services, asphalt overlay of public roads, building code enforcement and other administrative services equivalent (except as expressly ATTACHMENT E Page 5 of 8 modified or qualified by Sections 3.3(b), 3.4, 4.2(c) and 4.2(d)) to those services provided to any other area of the Town on a uniform and non-discriminatory basis (collectively, the “Municipal Services”). The Parties acknowledge the Town provides public transit services as part of the Municipal Services based on a variety of factors including demand, the Town's transit planning policies, funding availability and similar considerations and, accordingly, does not provide public transit service within all areas of the Town or make a representation or commitment regarding when and to what extent the Town may provide public transit service within the Property. As such, the Town shall not deny any Development Application based on a lack of transit services or the inability of the Town to provide transit services, and no approval of a Development Application shall be conditioned upon any party or entity other than the Town providing transit services. The Town's receipt of Municipal Payments during the Term as generally described in Section 6.5, together with the additional revenues described in Section 6.16, is in consideration of the Town’s providing Municipal Services. The Municipal Payments and additional revenues described in Section 6.16 shall be conclusively deemed and construed to fully offset the Town’s cost of performing its Municipal Services obligations pursuant to this Development Agreement, such that no Party shall assert or claim that such Municipal Payments revenues are either inadequate or excessive, no Party shall assert or claim any right to an increase in or a reduction of such Municipal Payments revenues, and the Town shall not withhold, suspend or terminate the provision of any of the Town’s Municipal Services obligations pursuant to this Development Agreement. [Emphasis added]. After expiration of the Term, the Town shall continue to provide Municipal Services in accordance with the Town’s general obligation to provide municipal services throughout the Town. The Municipal Payments referenced above are comprised of revenues generated for the 0.75% Add-On PIF on retail sales transactions that the PICs, Service District, VMD and TC agreed to impose in 2023. The Town receives 100% of the net revenues generated from imposition and collection of the 0.75% Add-On PIF to offset its cost of providing Municipal Services. The emphasized statement is intended to clarify that neither Avon nor Traer Creek can assert that Municipal Payments are too high or too low for the purposes of performance and compliance with the terms of the CARADA. This cost analysis is not intended to suggest non-compliance with terms of the CARADA; rather, it is meant to illustrate the current financial status of revenues received and services provided for the purposes of budgeting and financial planning. There are more layers of fiscal modelling and analysis that are not conducted in this report, including recognition that residential properties generate very little revenue directly but are a source of retail spending that boosts sales at commercial properties. Avon’s direct revenue sources from development at the Village (at Avon) include the .75% Add-On PIF, the “tax on the PIF” (Avon’s 4% sales tax applied to the PIC’s 4% PIF and the .75% Add-On PIF), share-back of 15% of the Eagle County one cent sales tax, Avon’s property tax, building permit fees and other development related fees. Building permits are one-time revenues and are not recurring each year. ATTACHMENT E Page 6 of 8 Direct Revenues (2024): The following table depicts Direct Revenues received from the Village (at Avon): Direct Tax Revenues from Village (at Avon) Add-On .75% PIF $ 1,050,161 Avon Sales Tax on PIC Sales Fee $ 266,041 Eagle County Sales Tax (15% rebate) $ 327,650 Property Tax $ 206,224 TOTAL $ 1,850,075 Expenses (2025): The following table indicates direct expenses incurred by Town of Avon to provide Municipal Services. The primary municipal services provided are Police, Transit and Street maintenance (Attachment F). Avon also provides many other indirect services that benefit the general public, including administration, finance, human resources, Community Development planning, Community Housing, free community concerts, arts and culture, improvements and programming at Harry A. Nottingham Park, climate action investments and programs and the recreation facility. Direct Services Police $ 794,418 Transit $ 576,883 Road Maintenance $ 667,328 TOTAL $ 2,038,629 NET $ (188,554) Direct Revenues with Spring Hill Suites and Bosk Apartments $ 2,000,075 (includes estimated $151,000 in taxes and fees that Town collects, building permits are excluded) Direct Services (with Bosk Apartments) Police $ 1,004,418 Transit $ 576,883 Road Maintenance (includes Cresent Hill Road) $ 667,328 TOTAL $ 2,248,629 NET $ (248,554) Capital Improvements: Avon invests in capital improvements in addition to providing municipal services in the Village (at Avon). Under the CARADA, an Asphalt Overlay Escrow Fund was established with contributions from Avon, Traer Creek Metropolitan District and Traer Creek to support street overlay and repairs in the Village (at Avon). This fund was used for the overlay of Fawcett Road and Yoder Road and is now depleted. Under the CARADA, Avon is responsible for maintaining streets, streetscape and ATTACHMENT E Page 7 of 8 landscaping in public rights-of-way, as well as constructing and maintaining parks such as PA-B and P1. Planned capital improvements over the next three years include the following: Capital Improvements P1 Trail Grading (estimate) $ 250,000 Retaining Wall Repair $ 100,000 Post Blvd Overlay (estimate for 2027) $ 2,750,000 Nottingham Puder Ditch Headgate (estimate) $ 1,575,000 Irrigation (estimate) $ 75,000 TOTAL $ 4,750,000 Although neither PA-B nor P1 has been fully designed, a general rule of thumb estimates park construction costs at approximately $1.5 million per acre. This cost estimate can vary depending on the proportion of the park dedicated to playfields and natural landscaping versus built structures for recreational and public use. P3 (the large regional park area to the north of Spring Hill Suites) is not included in this cost estimating. Park Construction PA-B (Park) (4 acres x $1.5M/acre) $ 6,000,000 P1 Park (3 acres x $1.5M/acre) $ 4,500,000 TOTAL $ 10,500,000 The Capital Improvements Fund may be used to finance the development of parks and other capital projects within the Village (at Avon). This fund is supported by revenues from the Real Estate Transfer Tax (“RETT”). Avon has pledged RETT revenues to fund public improvements under the CARADA agreement. As a result, capital improvements in the Village may be financed using RETT revenues generated from properties outside the Village at Avon. A potential alternative revenue source for capital improvements is tax increment financing through the Avon Downtown Development Authority. The amount of tax increment financing revenues is dependent on the timing and valuation of new construction in the Village (at Avon). AVON DOWNTOWN DEVELOPMENT AUTHORITY: The Town of Avon formed the Avon Downtown Development Authority (“Avon DDA”) in fall of 2023. PA-A PA-B, PA-C, PA-D, PA-E, PA-J and P1 are within the boundaries of the Avon DDA. The Avon DDA captures increased property taxes from new construction, known as tax increment financing (“TIF”). The Avon DDA is generating approximately $350,000 in TIF revenue annually. The TIF revenue is projected to increase as the development of the area continues. This will include a national grocery store, and apartment complex and a residential housing condominium building. The Avon DDA states that at least 50% of its revenues must go to Community Housing. The DDA is currently contributing to the construction of the Eagle Valley Childcare Center. This support includes an annual contribution of $200,000 in 2025 and 2026. The Avon DDA TIF revenues are likely to be important and appropriate for the development of Community Housing on PA-E and for the development of parks and public amenities on PA-B and P1. ATTACHMENT E Page 8 of 8 NOTE: The Avon DDA also captures Avon’s property tax in portions of the Village (at Avon) such that future construction will not increase Avon’s property tax revenues to support Municipal Services. FINANCIAL CONNECTION: Additional development in the Village (at Avon) will enhance the annual revenues that are pledged to repayment of outstanding debts and the repayment of issuance of the remaining authorized debt. Specifically, additional revenue generating development in the Village (at Avon) will accelerate the satisfaction of the Town’s tax credit pledge. Additional retail development will also enhance the .75% Add-On PIF and .15% County Sales Tax rebate revenues. Thanks, Paul ATTACHMENT E From:bobby bank To:Matt Pielsticker Subject:Public Hearing Notice Sent to adjacent property owners Date:Tuesday, November 4, 2025 11:50:33 AM Dear Matt, As yours is the only email on the letter please accept and share my "2 cents" regarding the November 10th hearing. I would request that the planning and zoning or town council, whomever is in charge of the varience, require that 3 evergreen trees and 2 fast growing cotton less cottonwood trees, be planted and maintained for each unit in the complex that would require height increases or setback changes, with a minimum of (15) 8' minimum height trees planted along the back boundary of the properties. This should be a requirement for each parcel. Thank you for your consideration, Robert Bank 5147 Eaglebend Drive ATTACHMENT F 970-748-4091 pliermann@avon.org TO: Planning and Zoning Commission FROM: Patti Liermann, Housing Planner RE: PUBLIC HEARING Rezoning Lot 2, Swift Gulch Addition DATE: October 29, 2025 SUMMARY: This report presents to the Planning and Zoning Commission (“PZC”) an overview of the “Slopeside” rezoning application, for an existing parcel of land owned by the Town of Avon (“Town”), legally known as Swift Gulch Addition Lot: 2 (“Lot 2”). This application changes the existing zoning for Lot 2 from Public Facility (“PF”) to Community Housing High Density-1 (“CHHD-1”). The “Slopeside” affordable housing development is being considered on the adjacent parcel to the west (“Tract Y”), and approved Conceptual Design plans expand into Lot 2. Town Council (“Council”) provided direction that Staff prepare and submit a rezoning application for Lot 2 to match Tract Y’s zoning, then vacate the lot line. PZC previously approved rezoning Tract Y and recommended that Lot 2 also be rezoned to CHHD-1. BACKGROUND: Lot 2 is part of the Swift Gulch Addition. The Future Land Use Map in the Avon Comprehensive Plan designates this property as Civic/Public Facility. Staff was not able to find any information on past ideas about civic or public facility uses that may have been contemplated for this site, outside of acting as a drainage catchment. Swift Gulch, to the east of the Property, was at one time zoned for 105 units of housing, however was later rezoned for public use and a public works/transit/fleet campus. Lot 2 also contains a portion of the pedestrian/bike trail that runs between Avon Road and Post Blvd, and the existing Nottingham Puder Ditch. Tract Y is currently planned to hold the 106-unit affordable housing development known as “Slopeside”. Location of Property Tract Y Lot 2 Rezoning Application: Parcel 2 “Slopeside” Community Housing November 10, 2025 Page 2 of 7 The approved Conceptual Design showing the “Slopeside” development across both Tract Y and into Lot 2 is attached as Attachment B. Lot 2 Tract Y Rezoning Application: Parcel 2 “Slopeside” Community Housing November 10, 2025 Page 3 of 7 Avon Comprehensive Plan Planning Principles Rezoning Application: Parcel 2 “Slopeside” Community Housing November 10, 2025 Page 4 of 7 Rezoning Application: Parcel 2 “Slopeside” Community Housing November 10, 2025 Page 5 of 7 PROCESS: Rezonings can only be initiated by property owners and Council for Town-owned properties. Council directed Staff to submit a rezoning application to PZC at the September 23, 2025 Council meeting. Staff provided the necessary public notification before this PZC hearing. PZC is requested to review the rezoning application and provide a recommendation to Council. Council approves rezonings by adoption of an Ordinance. Staff will vacate the lot line through an administrative (minor) subdivision process. PUBLIC NOTIFICATION: The Application was publicly notified in the Vail Daily on October 31, 2025. Mailings were sent October 30, 2025. No comments have been received. OPTIONS: PZC has the following options with the Application: •Recommend Approval •Continue Public Hearing to a Specific Date •Recommend Denial, with findings DISCUSSION: The cost of workforce housing has escalated dramatically since 2021 and is regarded as a crisis across Eagle County and Colorado. Properties owned by the Town, which are physically suitable for the development of Community Housing, have the financial advantage that the Town does not have to include the cost of land in the overall cost of development. The “Slopeside” project will primarily occupy the 3.5 acres of Parcel 1. The approved Conceptual Design revealed that expanding into the 1.4 acres of Parcel 2 would maximize unit density, achieve parking minimums, unit storage, and adequate waste/recycling stations, while providing visual articulation of the buildings into the natural hillside. To achieve this, Parcel 2 will need to be rezoned to match Parcel 1’s CHHD-1 zoning. REVIEW CRITERIA: PZC must consider a set of review criteria when reviewing rezonings. The review criteria is governed by Avon Municipal Code (“AMC”) §7.16.050, Rezonings. Staff has provided responses to each review criteria within the attached Application. FINDINGS: §7.16.050, Rezonings. (1)The proposed rezoning is in substantial compliance with the applicable purpose statements of the Development Code; (2)The proposed rezoning is in substantial conformance with the goals, policies, and intents of the Avon Comprehensive Plan. Amending the zoning and consolidating this lot with Tract Y creates a unified parcel needed to site the pending Slopeside Community Housing project. The Conceptual Plans allow room for a Monument welcome sign, and the final design of Slopeside will meet the design principles (e.g. parking should be screened, projects should consider the mass and scale of existing neighborhood development, to ensure compatibility of design); (3)The physical suitability of the land for the pending residential development is sufficient; STAFF ANALYSIS & REPORT PZCPUBLIC HEARING RECOMMENDATION November 10, 2025 TOWN COUNCILORDINANCE & PUBLIC HEARING TBD 2026 TOWN COUNCILINITIATION September 23 Rezoning Application: Parcel 2 “Slopeside” Community Housing November 10, 2025 Page 6 of 7 (4) The rezoning is compatible with surrounding land uses. By expanding the existing CHHD-1 zoning to this property, it will complete the acreage necessary to support the Slopeside Community Housing project; (5) The proposed rezoning addresses changed or changing conditions in the character of the area proposed to be rezoned. Rezoning Lot 2 to Community Housing, assists greatly in responding to the housing needs for Avon; (6) The public facilities available to serve development permitted by the new zoning and the proposed development for the type and scope suggested by the change in zoning is adequate and does not decrease the level of service to this area of Avon; (7) The rezoning is consistent with the stated purpose of the proposed zoning district; (8) The rezoning is not likely to result in adverse impacts upon the natural environment, including air, water, noise, stormwater management, wildlife and vegetation. Any and all impacts that arise will be substantially mitigated through future development applications; (9) The rezoning will not result in significant adverse impacts upon other property in the vicinity of the subject tract; (10) The proposed rezoning addresses a demonstrated community need and will result in the establishment of the Slopeside Community Housing; and (11) The proposed rezoning is suitable within the Wildfire Urban Interface (WUI) as a low- wildfire hazard area and will not increase the hazard potential in its vicinity. And, Conformance with General Review Criteria in AMC §7.16.010(f)(1), General Criteria, which provides criteria that are applicable to all development applications: (1) Review Criteria. The reviewing authority shall be Director when the Director has the authority to administratively approve a development application. The reviewing authority shall be the PZC and/or Town Council for all development applications which are subject to public hearing. The reviewing authority shall review development applications for compliance with all relevant standards and criteria as set forth in the specific procedures for the particular application in this Development Code, as well as the following general criteria which shall apply to all development applications: (i) The development application is complete; (ii) The development application provides sufficient information to allow the reviewing authority to determine that the development application complies with the relevant review criteria; (iii) The development application complies with the goals and policies of the recently updated Avon Comprehensive Plan; and (iv) The demand for public services or infrastructure exceeding current capacity will be mitigated by future development applications. RECOMMENDED MOTION: “I move to recommend that Council approve the proposed Rezoning Swift Gulch Addition Lot: 2 from Public Facility to Community Housing High Density -1, based on the findings for Rezoning Application: Parcel 2 “Slopeside” Community Housing November 10, 2025 Page 7 of 7 §7.16.050 Rezonings and §7.16.010(f)(1) General Criteria. Thank you, Patti ATTACHMENT A: Slopeside Rezoning Application ATTACHMENT B: Slopeside Conceptual Design Map 970-748-4023 jskinner@avon.org SLOPESIDE COMMUNITY HOUSING PROJECT APPLICATION TYPE: REZONING FILE NUMBER: REZ25001 LOCATION: Swift Gulch Addition Lot 2 Parcel No. 210512114002 APPLICANT/OWNER: Town of Avon REPRESENTATIVE: Patti Liermann, Housing Planner SECTION 1: APPLICATION INFORMATION APPLICATION SUMMARY: The Town of Avon (“Town”) set a goal to increase the number of dedicated workforce housing units and the available unit types in its housing portfolio. The Town created multiple strategies to accomplish this goal, including identifying available land for affordable housing development. One such parcel of land, BENCHMARK AT BEAVERK CREEK TRACT Y (“Tract Y”) was identified as suitable for affordable rental housing. The location adjacent to the Town core would encourage alternative modes of transportation, including bus, bike, and walking. The Avon Planning & Zoning Commission (“PZC”) recommended approval to rezone Tract Y to Community Housing High Density-1 (“CHHD-1”) at the February 6, 2024 meeting. PZC further recommended rezoning the adjacent parcel, Swift Gulch Addition Lot 2 (“Lot 2”), to CHHD-1, but no further action was taken at that time. The Avon Town Council (“Council”) approved rezoning Tract Y from Open Space/Landscape/Drainage (“OLD”) to CHHD- 1 on March 12, 2024. The Town is currently seeking to rezone Lot 2 to CHHD-1. BACKGROUND: The Town identified Tract Y as a potential affordable housing project and approved rezoning and entitlement. The Town then used a competitive bid process to engage Ulysses Development Group, LLC (“Developer”) to create a Conceptual Design at Tract Y for an affordable rental housing project. This project is known as “Slopeside”. The initial goals of the project include maximizing density and unit count, providing adequate parking and unit storage, meeting Climate Action Collaborative goals, and providing an aesthetically appealing project to serve as the gateway to Avon. During the multiphase Conceptual Design, the Developer and PZC agreed that expanding “Slopeside” into the adjacent Lot 2 would allow the project to maximize density, unit count, parking ratios, and provide the desired massing and articulation of the buildings in the prominent location at Avon’s entrance along the interstate. PZC recommended approval of the Conceptual Design at the September 22, 2025 meeting. Council approved the Conceptual Design at the September 23, 2025 meeting and instructed Staff to prepare and submit a rezoning application for Lot 2 to match Tract Y’s zoning, and then to vacate the lot line. Slopeside Concept Plan Overlay 2025 Attachment A Lo2 Swift Gulch Addition Rezoning Application November 1, 2025 Page 2 of 5 Location of Property SECTION 2 : REVIEW CRITERIA: The Town Council must consider a set of review criteria when reviewing rezonings. The review criteria is governed by Avon Municipal Code (“AMC”) §7.16.050, Rezonings. (1)The proposed rezoning is in substantial compliance with the applicable purpose statements of theDevelopment Code; Applicant Response: This rezoning is a small step to help increase Avon’s Community Housing efforts, and may be considered an essential piece in supporting the Town's economic sustainability and the health, safety, and general welfare of the Avon Community, as a Community Housing site This rezoning will require a site specific development review to be examined and processed as a next step and once designed, having a property with the appropriate zoning to site a Community Housing project, will improve the Town of Avon’s chances in receiving vital grant funding and much needed workforce housing. . (2)The proposed rezoning is in substantial conformance with the goals, policies, and intents of the Avon Comprehensive Plan; Applicant Response: On the first page of the Avon Community Housing Plan it quotes the 2017 Avon Comprehensive Plan where, “Avon’s vision is to provide a high quality of life, today and in the future, for a diverse population; and to promote their ability to live, work, visit, and recreate in the community.” It goes on to state, “The Potential community benefits of increasing Community Housing efforts include: •More housing choices; •Increased economic stability and a more active year-round economy for local residents and businesses; Tract Y Lot 2 Lo2 Swift Gulch Addition Rezoning Application November 1, 2025 Page 3 of 5 •Greater ability to retain individuals and families throughout life and career phases, strengthening the sense of community, opportunity, and quality of life; •Increase Community Housing supply for job recruitment purposes; •Create Community Housing in closer proximity to job centers with pedestrian connections and availability of transit, in alignment with the Climate Action Plan goals.” Goal 1 of this same plan is to, “Achieve a diverse range of housing densities, styles, and types, including rental and for sale, to serve all segments of the population.” This rezoning offers the Town a useable parcel of land that is set up and ready to invest in, for projects like the one that would be an asset at this location. A project that fills in an income and unit type gap for a workforce needed to support the economics of our community, and by filling a need for businesses in having housing that could be used for much-needed resort-oriented workers and reducing the need to commute long distances. The Future Land Use Plan establishes preferred development patterns by designating land use categories for specific geographical locations. While land use designations depicted on the land use map do not supersede the Town’s zoning districts and regulations, they display general land use categories as a visual guide for the community based on the goals, objectives, and policies presented within this document. Currently, the Future Land Use Map for this area is shown in the image, next page. As the slated Community Housing project is to be a Town of Avon housing rental project, the Comp Plan can be updated in the future as Community Housing does not conflict with this existing designation. (3)The physical suitability of the land for the proposed development or subdivision is sufficient, if rezoned; Applicant Response: This smaller portion of the overall Community Housing project area is suitable for development. This site does not contain any significant wildlife habitat or wildlife migration corridors, and has appropriate slope for development. (4)The rezoning is compatible with surrounding land uses; Applicant Response: The rezoning of this property to Community Housing High Density - 1 is appropriate given that this property will be combined with Tract Y. The future Slopeside Project is within walking distance to commercial offerings like restaurants, transit, healthcare, and other services within the Town Core. Adding Lot 2 to Tract Y is what is needed to site the projected number of units for this project. Lo2 Swift Gulch Addition Rezoning Application November 1, 2025 Page 4 of 5 Development on this site will not have an adverse effect- or any impact, to neighboring properties as there are no adjacent developments to this location outside of the Tract Y and Swift Gulch road to the east. Development on this site will not impede views, nor detract from the viability of the surrounding land uses. (5)Whether the proposed rezoning addresses changed or changing conditions in the character of thearea proposed to be rezoned; Applicant Response: This rezoning is being sought directly in response changed conditions or housing crisis Avon is experiencing and as mentioned earlier within this report. Namely, responding to the need to invest in a diverse number of housing projects needed to support Avon’s economy, and in offering options for Community Housing unlike any project within the Town of Avon. (6)Whether the public facilities available to serve development permitted by the new zoning or the proposed development for the type and scope suggested by the change in zoning remains adequateand does not decrease the level of service to neighboring or existing development; Applicant Response: This site is in excellent proximity to all necessary infrastructure without jeopardizing any existing development, including the availability of water and sewer. The Town will seek these services from the Eagle River Water and Sanitation District as a next step in the development process. (7)Whether the rezoning is consistent with the stated purpose of the proposed zoning district; Applicant Response: The purpose of the Community Housing High Density - 1 (CHHD-1) is to accommodate multi-family development in cost effective configuration, construction type and density that permits a high number of residential units with a maximum of four (4) stories of residential or three (3) stories of residential above one (1) level of at grade parking. The recent Comprehensive Plan Amendment purposefully did not add suggested zone districts to the Future Land Use Map so that individual projects could apply the Community Housing zone that best suits a particular site, given its location and compatibility with neighboring developments. While it is imperative to maximize density when designing a project for genuinely affordable housing units, it is also necessary to find balance in developing a project that is not only within walking distance of amenities, services, and transit but that a project should not overwhelm a parcel – especially a project like Slopeside, which is a highly-visual site or gateway into Avon. (8)That, compared to the existing zoning, the rezoning is not likely to result in adverse impacts uponthe natural environment, including air, water, noise, stormwater management, wildlife and vegetation, or such impacts will be substantially mitigated; Lo2 Swift Gulch Addition Rezoning Application November 1, 2025 Page 5 of 5 Applicant Response: The Town has achieved a concept design for a Community Housing project that is respectful of the property’s slopes and drainage. As mentioned in the Finding for property suitability, there are no significant impacts anticipated to vegetation, wildlife, or to the natural environment. With all electric construction, there is no air quality issues anticipated. Where noise is concerned, this area has existing vehicle noise due to I-70. Largely generated during working hours, situating a residential development on this site should not be an issue after typical working hours, as travel dissipates on I-70. (9)That, compared to the existing zoning, the rezoning is not likely to result in significant adverse impacts upon other property in the vicinity of the subject tract; Applicant Response: Development of this site in the future will change the “feel” of the area in having a residential development on a parcel that has been largely vacant for decades; however, that argument could be made for any long-standing vacant parcel. In this case, it will not have any adverse impacts to the neighboring properties. Public transit is already accommodated at this location, and this site is highly walkable to neighboring restaurants, parks, and other amenities (10) The proposed rezoning addresses a demonstrated community need or otherwise results in one ormore public benefits that offset potential development impacts, including, but not limited to, Community Housing, childcare facilities, transportation or public infrastructure improvements; and Applicant Response: This rezoning will result in a Community Housing Project, which is vital and beneficial to the Avon community. (11) The proposed rezoning is suitable within the Wildfire Urban Interface (WUI) and does not increase the hazard potential of areas or on properties with or without mitigation. Applicant Response: This parcel is a low-wildfire hazard zone. Utilizing modern materials as is contemplated for this project further insulates development from the threat of wildfire impacts. Applicant Response: This rezoning application is complete. Applicant believes sufficient information exists to allow Council to review this application with the review criteria. Further, the recently approved code text amendment application directly reflects the update to the Avon Comprehensive Plan. This rezoning application will not impact demands for public services or infrastructure because it is not a true development application; instead, it simply a rezoning for a Town-owned property slated for a future Community Housing project. CONCLUSION: This rezoning represents another step in preparing the Town to pursue the Slopeside Community Housing project in Avon. By expanding our housing portfolio and acknowledging our essential workforce needs, Avon will become an even stronger community. In 7520 7500 7 5 5 0 7540 7 5 3 0 7550 7530 7540 7510 7510 7530 754 0 7550 7520 7540 W W V 40 POTENTIAL ON-STREET PARALLEL PARKING SPOTS w/ STAIR ACCESS RETAINING WALL HEIGHT VARIES FROM 0' -7' RECYCLE / WASTE RECYCLE / WASTE "HINGE": 300sf INDOOR / OUTDOOR SPACE AT ENTRY LEVEL & STORAGE / UTILITY AT EACH LOWER LEVEL SNOW REMOVAL SNOW REMOVAL 7544 7542 7540 7538 7541 7508 7538 7516 7536 7529 75227505 7542 7535 7528 7521 7514 7536 7536 7536 7529 7522 7515 7538 7538 7538 7516 7516 7545 7548 7546 7544 7548 7546 7543 75417539 7538 7540 7540 7518 7542 7520 7540 7518 75377536 7538 7544 7522 7524 75327533 7536 7529 7522 7544 7538 8 10 10 10 10 10 10 8 10 8 10 MOVING / DROP-OFF / MAIL / DE LIV ERIES MOVING / DROP-OFF / MAIL / DELIVERIES SNOW REMOVAL NOT FOR CONSTRUCTION SD61106 UNITS Avon, CO AD25004 AVON SLOPESIDE HOUSING 05 SEPT. 2025 1" = 80'-0"1 106 UNITS SITE PLAN UNIT MIX: STUDIOS: 1 BED: 2 BED: 106 28 54 24 OUTER STUDIOS: 1 BED: 2 BED: WEST 8 15 7 WEST 8 16 6 EAST 6 12 6 EAST 6 11 5 INNER STUDIOS: 1 BED: 2 BED: INNER STUDIOS: 1 BED: 2 BED: OUTER STUDIOS: 1 BED: 2 BED: VARIOUS PARKING REQUIREMENTS: SPOTS PROVIDED: 144 1 SPOT / BEDROOM (130) + GUESTS (10): NEED 140 SPOTS FINAL CONCEPTUAL DESIGN Lot 2 Tract Y Lot Line Attachment B PZC Record of Decision: CTA25005 PLANNING AND ZONING COMMISSION FINDINGS OF FACT AND RECORD OF DECISION DATE OF PUBLIC HEARING: TYPE OF APPLICATIONS: FILE NUMBER: APPLICANT: October 20, 2025 Code Text Amendment CTA25005 Town of Avon This Record of Decision is made in accordance with the Avon Development Code §7.16.010(F)(1) PZC DECISION ON #CTA25005: Recommendation for Town Council to Approve the Title 7 Landscaping Code Text Amendments. RECOMMENDED FINDINGS: 1. The text amendment promotes the health, safety and general welfare of the Avon community by focusing on compliance with State bill SB24-005; 2. This text amendment promotes and strengthens the implementation of the updated goals and policies of the Avon Comprehensive Plan and supporting plans; 3. The text amendment consistently promotes or implements the purposes stated in this Development Code with the new language completing compliance with the State; and 4. The text amendment is necessary or desirable to respond to changed conditions as they pertain to water conservation in the State of Colorado. GENERAL CRITERIA FINDINGS: 1. The development application is complete; 2. The development application provides sufficient information to allow the reviewing authority to determine if it complies with the relevant review criteria; 3. The development application complies with the goals and policies of the Avon Comprehensive Plan; and 4. The demand for public services or infrastructure exceeding current capacity does not require mitigation as there is no development application accompanying the Code Text Amendment that results in a physical project that utilizes public services or infrastructure. THESE FINDINGS OF FACT AND RECORD OF DECISION ARE HEREBY APPROVED: BY: DATE: PZC Chairperson _______________________________________________________________________________ MEETING AGENDAS AND PACKETS ARE FOUND AT: WWW.AVON.ORG AGENDAS ARE POSTED AT AVON TOWN HALL, AVON RECREATION CENTER, ONLINE AND AVON PUBLIC LIBRARY IF YOU HAVE ANY SPECIAL ACCOMMODATION NEEDS, PLEASE, IN ADVANCE OF THE MEETING, CALL MATT PIELSTICKER AT 970-748-4413 OR EMAIL MATT@AVON.ORG WITH ANY SPECIAL REQUESTS. AVON PLANNING & ZONING COMMISSION MEETING MINUTES (DRAFT) MONDAY OCTOBER 20, 2025 PUBLIC MEETING BEGINS AT 5:30 PM PUBLIC MEETING: 5:30 PM 1. CALL TO ORDER AND ROLL CALL (CHAIRPERSON) MEETING COMMENCED AT 5:30PM. A ROLLCALL WAS TAKEN, AND PLANNING COMMISSIONERS BRAD CHRISTIANSON, CARLY HANSEN, BRIAN SIPES, RICK SUDEKUM, NICOLE MURAD AND NANCY TASHMAN WERE PRESENT. COMMISSIONER ELIZABETH WATERS WAS PRESENT VIA ZOOM. ALSO PRESENT WERE DIRECTOR OF COMMUNITY DEVELOPMENT MATT PIELSTICKER, PLANNING MANAGER JENA SKINNER, AND DEVELOPMENT COORDINATOR EMILY BLOCK. 2. APPROVAL OF AGENDA ACTION: COMMISSIONER SIPES APPROVED THE AGENDA WITH NO CHANGES. 3. DISCLOSURE OF ANY CONFLICTS OF INTEREST OR EX PARTE COMMUNICATION RELATED TO AGENDA ITEMS THERE WERE NO CONFLICTS OF INTEREST OR EX PARTE COMMUNICATION. 4. PUBLIC COMMENT – COMMENTS ARE WELCOME ON ITEMS NOT LISTED ON THE FOLLOWING AGENDA PUBLIC COMMENTS ARE LIMITED TO THREE (3) MINUTES. THE SPEAKER MAY BE GIVEN ONE (1) ADDITIONAL MINUTE SUBJECT TO PLANNING AND ZONING COMMISSION APPROVAL. 5. PUBLIC HEARING 5.1. CTA25005 AVON MUNICIPAL CODE UPDATES TO TITLE 7 LANDSCAPING CODE – PLANNING MANAGER, JENA SKINNER ACTION: COMMISSIONER TASHMAN MADE A MOTION TO RECOMMEND APPROVAL OF CTA25005 TO THE AVON TOWN COUNCIL. COMMISSIONER SIPES SECONDED THE MOTION, AND THE MOTION PASSED UNANIMOUSLY 7-0. 6. CONSENT AGENDA 6.1. SEPTEMBER 22, 2025 PLANNING AND ZONING COMMISSION MEETING MINUTES ACTION: COMMISSIONER CHRISTIANSON MADE A MOTION TO APPROVE THE CONSENT AGENDA. COMMISSIONER TASHMAN SECONDED THE MOTION, AND THE MOTION PASSED UNANIMOUSLY, 7-0. 7. FUTURE MEETINGS 7.1. NOVEMBER 10, 2025 7.2. NOVEMBER 17, 2025 8. STAFF UPDATES _______________________________________________________________________________ MEETING AGENDAS AND PACKETS ARE FOUND AT: WWW.AVON.ORG AGENDAS ARE POSTED AT AVON TOWN HALL, AVON RECREATION CENTER, ONLINE AND AVON PUBLIC LIBRARY IF YOU HAVE ANY SPECIAL ACCOMMODATION NEEDS, PLEASE, IN ADVANCE OF THE MEETING, CALL MATT PIELSTICKER AT 970-748-4413 OR EMAIL MATT@AVON.ORG WITH ANY SPECIAL REQUESTS. 9. ADJOURN THE MEETING WAS ADJOURNED AT 6:33 PM. APPROVED: CHAIRPERSON