PZC Packet 111025
AVON 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 Amendmentsand 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
TO:Planning & Zoning Commission
FROM:Matt Pielsticker, AICP, Community Development Director
RE: QUASI-JUDICIAL PUBLIC HEARING
Village (at Avon) PUDAmendment| 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.
Thejoint PUD Amendment application originated in Fall2023. 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 OFAPPLICATIONS: Asummary 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.
970-748-4413 matt@avon.org
Town Amendments:The Town’sPUD amendments advance Avon’s Community Housing efforts
on Town-owned propertyby 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 2 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 mitigationand 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
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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 administrationfor 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 abilityvia 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 proposesto 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.
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November 6, 2025
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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.
PZC Hearing &
Staff Review &
Town Council Town Council
PZC Review Record
stnd
Public Notice
1 Reading 2 Reading
Of Decision
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.
PUD AMENDMENT REVIEW CRITERIA
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
Village (at Avon) PUD & Vested Property RIghts
November 6, 2025
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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 cohesivenesswith 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
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Other general goals and policy areas of the 1996 Comprehensive Plan are relevant,
especially with regard to housing. Section C of the Comprehensive Planincludes 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,
participatein 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 7 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 Section7.08.010 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
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Boulevard has been partially constructed. Grading work is also currently taking place on
the property. A new term “Engineered Grade” was decided upon as thenewreference
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
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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.
PUD AMENDMENT FINDINGS
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 forPZC 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.
Village (at Avon) PUD & Vested Property RIghts
November 6, 2025
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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-1will 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.
VESTED PROPERTY RIGHTS EXTENTION
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).
st
1. Sheraton Mountain Vista: Vested Property Rights granted in 2000, 4 years for 1phase, 8 years
ndrdst
for 2 phase, 12 years for 3 phase. 1 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
nd
Rights approved in 2009. Project was fully developed in 2021 (2 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 Guidelinesestablished
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
Village (at Avon) PUD & Vested Property RIghts
November 6, 2025
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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 servicedue 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 thelawsuit
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 Rightsand 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
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Staff Response: TheVillage 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 trailcould 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 13 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.
VESTED PROPERTY RIGHTS FINDINGS
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.
Village (at Avon) PUD & Vested Property RIghts
November 6, 2025
Page 14 of 15
“I move to recommend Town Council approve the proposed Village (at Avon) PUD Amendmentand 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
Village (at Avon) PUD & Vested Property RIghts
November 6, 2025
Page 15 of 15
ATTACHMENT A
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ATTACHMENT A
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ATTACHMENT A
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ATTACHMENT A
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ATTACHMENT A
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Qbhf!3134!pg!
ATTACHMENT A
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ATTACHMENT D
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 Section1.5(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
4199881.6
ATTACHMENT D
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 amendedand 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) PrimaryVesting 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
PrimaryVesting 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”).
2
4199881.6
ATTACHMENT D
(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 October21,
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
Section2.4 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. Section2.4(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 October21, 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, duringthe 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
3
4199881.6
ATTACHMENT D
(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
4
4199881.6
ATTACHMENT D
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 Lot3
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
Section3.7(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 Section3.7(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 Section4.3 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 Agreementnor shall it be
construed as requiring any further land Dedications in satisfaction ofthe 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):
5
4199881.6
ATTACHMENT D
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
th
2001 16Street, 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
th
2001 16Street, 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
6
4199881.6
ATTACHMENT D
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.
th
950 17 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
7
4199881.6
ATTACHMENT D
With a required copy to:
Otten, Johnson, Robinson, Neff & Ragonetti, P.C.
th
950 17
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
th
2001 16Street, 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.
th
950 17 Street, Suite 1600
Denver, Colorado 80202
Attention: Munsey L. Ayers \[270412-0004\]
Telephone: 303.825.8400
Email: munsey@ottenjohnson.com
8
4199881.6
ATTACHMENT D
The Village (at Avon) Commercial Public Improvement Company
th
2001 16Street, 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.
th
950 17 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)ExhibitF Amended Defined Terms. Paragraphs 24, 45, 52, 54, 92, 93, and 129
of Exhibit F are amended and restated in their entiretyto read as follows:
24.Block 3 means Block3, 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 Section3.1, 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 Agreementmeans 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.
9
4199881.6
ATTACHMENT D
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 Termand the Mountainside Vesting Term.
(L)ExhibitF 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 Datemeans 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 PrimaryVesting 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:
10
4199881.6
ATTACHMENT D
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 FirstAmendment, 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.
\[SIGNATURE AND EXHIBIT PAGES FOLLOW THIS PAGE\]
11
4199881.6
ATTACHMENT D
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)
12
Town Signature Page to
First Amendment to
Consolidated, Amended and Restated
Annexation and Development Agreement
4199881.6
ATTACHMENT D
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)
13
TCMD Signature Page to
First Amendment to
Consolidated, Amended and Restated
Annexation and Development Agreement
4199881.6
ATTACHMENT D
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)
14
Master Landowner Signature Page to
First Amendment to
Consolidated, Amended and Restated
Annexation and Development Agreement
4199881.6
ATTACHMENT D
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)
15
Master Landowner Signature Page to
First Amendment to
Consolidated, Amended and Restated
Annexation and Development Agreement
4199881.6
ATTACHMENT D
EXHIBIT A
Legal Description of theProperty
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
Exhibit A
Page 1
4199881.6
ATTACHMENT D
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.
Exhibit A
Page 2
4199881.6
ATTACHMENT D
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.
Exhibit A
Page 3
4199881.6
ATTACHMENT D
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 4
4199881.6
ATTACHMENT E
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 Avonshall 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 toTraer 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
970.748.4088 predmond@avon.org
ATTACHMENT E
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
$5,415,567.21
TOTAL DEVELOPER ADVANCES
Past Bonds (I-70 Interchange, Post Blvd., Traer Creek Plaza
$43,105,000.00 4.15-5.0%
Parking, Water Tank)
$27,940,000.00 6.5%
Series 2025 Revenue Bonds
Remaining Credit PIF Principal Cap$0.00 TBD
TOTAL OUTSTANDING AND REMAINING DEBT BALANCE
$76,460,567.21
10-2025
Page 2 of 8
ATTACHMENT E
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 Districtof $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
PrincipalCurrent Total Total
Interest Accrued
Description AmountRate 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
Page 3 of 8
ATTACHMENT E
Developer Advances Paid since 2023
Principal Interest Total Accrued
Description Amount RateInterest 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) 0.001.50% 254,395.25 -
Total Developer Advances Payments 8,525,426,8415,490,002.56 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
Page 4 of 8
ATTACHMENT E
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.
Page 5 of 8
ATTACHMENT E
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): Thefollowing 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
(includesestimated $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
Page 6 of 8
ATTACHMENT E
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 DDAcaptures 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.
Page 7 of 8
ATTACHMENT E
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
Page 8 of 8
ATTACHMENT F
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
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
970-748-4091 pliermann@avon.org
Tract Y
Lot 2
The approved Conceptual Design showing the “Slopeside” development across both Tract Y and into Lot 2
is attached as Attachment B.
Rezoning Application: Parcel 2 “Slopeside” Community Housing
November 10, 2025
Page 2 of 7
Avon Comprehensive PlanPlanning Principles
Rezoning Application: Parcel 2 “Slopeside” Community Housing
November 10, 2025
Page 3of 7
Rezoning Application: Parcel 2 “Slopeside” Community Housing
November 10, 2025
Page 4 of 7
PROCESS: Rezoningscan only be initiated by property owners andCouncil for Town-owned properties.
Council directedStaffto submit a rezoning application toPZC attheSeptember 23, 2025Council meeting.
Staff provided the necessary public notification before thisPZChearing. 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.
PZC
TOWN COUNCIL
STAFF
TOWN COUNCIL
PUBLIC HEARING
ORDINANCE&
ANALYSIS &
INITIATION
RECOMMENDATION
PUBLIC HEARING
REPORT
September 23
November 10, 2025
TBD 2026
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: PZChas the following options with the Application:
Recommend Approval
Continue Public Hearingto a Specific Date
Recommend Denial, with findings
DISCUSSION: The cost of workforcehousinghas escalated dramatically since 2021and 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 Towndoes not have to
include the cost of land inthe overall cost of development. The “Slopeside” project will primarilyoccupy 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, whileproviding 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: PZCmust consider a set of review criteria when reviewing rezonings. Thereview
criteriaisgovernedby 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 insubstantial 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 Ycreates a unified parcel needed to site the pendingSlopeside 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 residentialdevelopment is sufficient;
Rezoning Application: Parcel 2 “Slopeside” Community Housing
November 10, 2025
Page 5 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 mitigatedthrough 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 areapplicable 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, aswell asthe followinggeneral criteria which shall
apply to all development applications:
(i) The development application iscomplete;
(ii) The developmentapplication provides sufficient information to allow the reviewing
authority to determine that the development application complies with the relevant
review criteria;
(iii) Thedevelopment application complies with the goals and policiesof the recently
updated Avon Comprehensive Plan; and
(iv) Thedemand for public services orinfrastructure 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 6 of 7
§7.16.050 Rezonings and§7.16.010(f)(1) General Criteria.
Thank you, Patti
ATT
ACHMENT A: Slopeside Rezoning Application
ATTACHMENT B: Slopeside Conceptual Design Map
Rezoning Application: Parcel 2 “Slopeside” Community Housing
November 10, 2025
Page 7 of 7
SLOPESIDE COMMUNITY HOUSING PROJECT
APPLICATIONTYPE: 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 goalto increase the number of dedicated workforce
housing unitsandthe available unit typesin its housing portfolio. The Town created multiple strategiesto accomplish
this goal, including identifying available land for affordable housing development. One such parcel of land,
BENCHMARK AT BEAVERK CREEKTRACT 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 rezoningTract 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 Townidentified Tract Y as a potential affordable housing project and approvedrezoning and
entitlement. The Town then used a competitive bid process to engage UlyssesDevelopment Group, LLC
(“Developer”) to create a Conceptual Design at Tract Y for an affordable rental housingproject. This project is known
as “Slopeside”. The initial goals of the project include maximizing density and unit count, providingadequate parking
and unit storage, meetingClimate Action Collaborativegoals, and providingan aesthetically appealing project to
serve as the gatewayto Avon. During themultiphaseConceptual Design, the Developer and PZC agreed that
expanding “Slopeside” into the adjacent Lot 2 would allow the projectto maximize density, unit count, parking ratios,
and providethe 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 Overlay2025
970-748-4023jskinner@avon.org
Location of Property
Tract Y
Lot 2
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 the
Development Code;
Applicant Response: This rezoning is a small step to help increase Avon’s Community Housing efforts, and
may be considered anessential piece in supporting the Town's economic sustainabilityand 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;
Lo2 Swift Gulch Addition Rezoning Application
November 1, 2025
Page 2 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 3 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 the
area 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 adequate
and 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 seekthese 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 upon
the 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 4 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 or
more 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
Lo2 Swift Gulch Addition Rezoning Application
November 1, 2025
Page 5 of 5
PLANNING AND ZONING COMMISSION
FINDINGS OF FACT AND RECORD OF DECISION
DATE OF PUBLIC HEARING: October 20, 2025
TYPE OF APPLICATIONS: Code Text Amendment
FILE NUMBER: CTA25005
APPLICANT: 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.Thetextamendmentpromotesthehealth,safety and general welfare of the Avon community by
focusing on compliance with State bill SB24-005;
2.This textamendmentpromotes andstrengthens theimplementation of the updated goals and
policies of the Avon Comprehensive Plan and supporting plans;
3.Thetextamendmentconsistently promotes or implementsthe purposes stated in this
Development Codewith the newlanguage completing compliance with the State; and
4.Thetextamendmentisnecessary or desirable to respond to changed conditionsas they pertain
to water conservation in the State of Colorado.
GENERAL CRITERIA FINDINGS:
1.Thedevelopment application is complete;
2.Thedevelopment application providessufficient information to allowthe reviewing authority to
determine if it complies with the relevant review criteria;
3.Thedevelopment application complieswiththe goalsand policies of the Avon Comprehensive
Plan; and
4.Thedemand forpublic services orinfrastructure exceeding current capacity does not require
mitigationas there is no development applicationaccompanying the Code Text Amendment that
resultsin a physical project that utilizes public services or infrastructure.
THESE FINDINGS OF FACT AND RECORD OF DECISION ARE HEREBY APPROVED:
BY: DATE:
PZC Chairperson
PZC Record of Decision: CTA25005
AVONPLANNING&ZONINGCOMMISSION
M EETING M INUTES(DRAFT)
M ONDAY O CTOBER 20,2025
UBLIC M EETING B EGINS AT 5:30 PM
P
PUBLIC MEETING:5:30 PM
1.C ALL TO O RDER AND R OLL C ALL(C HAIRPERSON)
M EETING COMMENCED AT 5:30 PM.A ROLLCALL WAS TAKEN,AND P LANNING C OMMISSIONERS B RAD C HRISTIANSON,
C ARLY H ANSEN,B RIAN S IPES,R ICK S UDEKUM,N ICOLE M URAD AND N ANCY T ASHMANWERE PRESENT.
C OMMISSIONER E LIZABETH W ATERSWAS PRESENT VIA Z OOM.A LSO P RESENT WERE D IRECTOR OF C OMMUNITY
D EVELOPMENT M ATT P IELSTICKER,P LANNING M ANAGER J ENA S KINNER,AND D EVELOPMENT C OORDINATOR E MILY
B LOCK.
2.A PPROVAL OF A GENDA
A CTION:C OMMISSIONER S IPESAPPROVEDTHE AGENDAWITH NO CHANGES.
3.D ISCLOSURE OF ANY C ONFLICTS OF I NTEREST OR E X P ARTE C OMMUNICATION R ELATED TO A GENDA I TEMS
T HERE WERE NO CONFLICTS OF INTEREST OR EX PARTE COMMUNICATION.
4.P UBLIC C OMMENT –C OMMENTS ARE WELCOME ON ITEMS NOT LISTED ON THE FOLLOWING AGENDA P UBLIC C OMMENTS
ARE LIMITED TO THREE (3)MINUTES.T HE SPEAKER MAY BE GIVEN ONE (1)ADDITIONAL MINUTE SUBJECT TO P LANNING AND Z ONING
C OMMISSION APPROVAL.
5.P UBLIC H EARING
5.1.CTA25005A VON M UNICIPAL C ODE U PDATES TO T ITLE 7L ANDSCAPING C ODE –P LANNING M ANAGER,
J ENA S KINNER
A CTION:C OMMISSIONER T ASHMANMADE A MOTION TO RECOMMEND APPROVAL OF CTA25005 TO THE A VON
T OWN C OUNCIL.C OMMISSIONER S IPESSECONDED THE MOTION,AND THE MOTION PASSED UNANIMOUSLY 7-0.
6.C ONSENT A GENDA
6.1.S EPTEMBER 22,2025P LANNING AND Z ONING C OMMISSION M EETING M INUTES
A CTION:C OMMISSIONER C HRISTIANSONMADE A MOTION TO APPROVETHE CONSENT AGENDA.C OMMISSIONER
T ASHMANSECONDED THE MOTION,AND THE MOTION PASSED UNANIMOUSLY,7-0.
7.F UTURE M EETINGS
7.1.N OVEMBER 10,2025
7.2.N OVEMBER 17,2025
8.S TAFF U PDATES
_______________________________________________________________________________
M EETING A GENDAS AND P ACKETS ARE FOUND AT:WWW.AVON.ORG
A GENDAS ARE POSTED AT A VON T OWN H ALL,A VON R ECREATION C ENTER,O NLINE AND A VON P UBLIC L IBRARY
I F YOU HAVE ANY SPECIAL ACCOMMODATION NEEDS,PLEASE,IN ADVANCE OF THE MEETING,
CALL M ATT P IELSTICKER AT 970-748-4413 OR EMAIL MATT @ AVON.ORG WITH ANY SPECIAL REQUESTS.
9.A DJOURN
T HE MEETING WAS ADJOURNED AT 6:33PM.
APPROVED:
CHAIRPERSON
_______________________________________________________________________________
M EETING A GENDAS AND P ACKETS ARE FOUND AT:WWW.AVON.ORG
A GENDAS ARE POSTED AT A VON T OWN H ALL,A VON R ECREATION C ENTER,O NLINE AND A VON P UBLIC L IBRARY
I F YOU HAVE ANY SPECIAL ACCOMMODATION NEEDS,PLEASE,IN ADVANCE OF THE MEETING,
CALL M ATT P IELSTICKER AT 970-748-4413 OR EMAIL MATT @ AVON.ORG WITH ANY SPECIAL REQUESTS.