TC Ord. No. 1989-12ORDINANCE NO. 89- 12
AN ORDINANCE AMENDING CHAPTER 3.12 OF
THE MUNICIPAL CODE OF THE TOWN OF AVON
TO PROVIDE FOR AN ADDITIONAL EXEMPTION
FROM THE REAL PROPERTY TRANSFER TAX
WHEREAS, it is the desire of the Town Council to
promote the purchase of dwelling units within the Town for
use as a primary residence; and
WHEREAS, it is the desire of the Town Council as
well to promote moderately priced housing;
BE IT ORDAINED by the Town Council of the Town of
Avon, Colorado, as follows:
Section 1. Amendment. Section 3.12.060 of
Chapter 3.12, Title 3, Municipal Code of the Town of Avon is
amended by the addition of a subsection 0 as follows:
"0. Any sale or conveyance of real property and
completed improvements for occupancy as a primary
residence provided the following conditions are
met:
1. The consideration for the sale is not in
excess of an amount certified annually by the town
manager, which amount shall be four times the
j~ median household income of Eagle County as
j announced by the Department of Housing and Urban
Development.
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i 2. The same applicant has not previously
received an exemption pursuant to this
;i subsection 0.
3. An application for exemption is filed j
with the Town Manager prior to the sale, which
i~ application is accompanied by i) an affidavit that
the real property is being purchased for use as a
primary residence and not for investment or resale
and ii) a promissory note in the amount of the tax
otherwise owing and providing that the tax and the
promissory note shall be due and payable in full
in the event of resale of the property within one
year after closing."
Section 2. Effective Date. This ordinance shall
become effective seven days after public notice following
final passage and shall apply to all transfers on or after
September 1, 1989. Any tax paid on or after September 1,
1989, and before the effective day hereof on a transfer
a
exempt hereunder shall be refunded upon application and
compliance with the conditions hereof.
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INTRODUCED, PASSED ON FIRST READING, APPROVED AND
ORDERED POSTED, this 12th day of September, 1989, and a
public hearing on this Ordinance shall be held at the
f regular meeting of the Town Council of the Town of Avon,
C Colorado, on the 26th day of September , 1989 at 7:30
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Colorado.
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Allan-R.' Nottingh Mayor
AT Mt ricia J. oyl
n Clerk
INTRODUCED, PASSED ON SECOND READING, APPROVED AND ORDERED j
i POSTED this 26th day of September 1989.
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Allan R. otting m, Mayor
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VDoy e
~atricia
own Cler
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0
STATE OF COLORADO )
COUNTY OF EAGLE ) SS
TOWN OF AVON )
0
NOTICE IS HEREBY GIVEN OF A PUBLIC HEARING BEFORE THE TOWN
COUNCIL OF THE TOWN OF AVON, COLORADO, AT 7:30 P.M. ON
SEPTEMBER 26, 1989, AT THE MUNICIPAL BUILDING, 400 BENCHMARK
ROAD, AVON, COLORADO, FOR THE PURPOSE OF CONSIDERING THE
ADOPTION OF ORDINANCE NO. 89-12, SERIES OF 1989:
AN ORDINANCE AMENDING CHAPTER 3.12 OF THE MUNICIPAL CODE OF
THE TOWN OF AVON TO PROVIDE FOR AN ADDITIONAL EXEMPTION FROM THE
REAL PROPERTY TRANSFER TAX
A copy of said Ordinance is attached hereto and is also on file
at the office of the Town Clerk and may be inspected during
regular business hours.
Following this hearing, the Council may consider final passage
of the Ordinance.
This notice is given and passed by order of the Town Council of
the Town of Avon, Colorado.
Dated this 26th day of September, 1989.
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POSTED AT THE FOLLOWING PUBLIC PLACES WITHIN THE TOWN OF AVON
ON SEPTEMBER 14, 1989:
THE MAIN ENTRANCE TO THE POST OFFICE,
THE MAIN ENTRANCE TO CITY MARKET,
THE C-MART, INC.; AND
THE MAIN LOBBY IN THE MUNICIPAL BUILDING