TC Ord. No. 1998-23 Approving a zone change from TC to PUDTOWN OF AVON
ORDINANCE NO. 98 -23
SERIES OF 1998
AN ORDINANCE APPROVING A ZONE CHANGE FROM TC TO PUD,
ESTABLISHING DEVELOPMENT STANDARDS AND APPROVING A DEVELOPMENT
AGREEMENT, LOT B, AVON CENTER AT BEAVER CREEK SUBDIVISION, TOWN
OF AVON, EAGLE COUNTY, COLORADO
WHEREAS, Shapiro Development, Inc. has filed an application for PUD Zoning and
establishment of Development Standards, attached hereto as Exhibit A; and
WHEREAS, the Town has agreed to establish zoning for the Property in accordance
with the Development Agreement, attached hereto as Exhibit B; and
WHEREAS, the proper posting, publication and public notices for the hearings before
the Planning & Zoning Commission of the Town of Avon were provided as required by law; and
WHEREAS, the Planning & Zoning Commission of the Town of Avon held a public
hearing, at which time the applicant and the public were given an opportunity to express their
opinions and present certain information and reports regarding the proposed amendment; and
WHEREAS, following such public hearing, the Planning & Zoning Commission will
forward reports and recommendations on the proposed PUD Zoning and Development Standards
to the Town Council of the Town of Avon; and
WHEREAS, after notices provided by law, this Council held a public hearing on the
8 tNay of December. 199-8-., at which time the public was given an opportunity to express
their opinions regarding the proposed amendment; and
WHEREAS, based upon the evidence, testimony, and exhibits, and a study of the
Comprehensive Plan of the Town of Avon, Town Council of the Town of Avon finds as follows:
1. That the hearings before the Planning & Zoning Commission and the Town Council were
both extensive and complete and that all pertinent facts, matters and issues were
submitted at those hearings.
2. The PUD Zoning and Development Standards are consistent with the Town's
Comprehensive Plan.
3. Adequate facilities are available to serve development for the project's type and scope.
NOW THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE
TOWN OF AVON, COLORADO, that:
The PUD Zoning and Development Standards are hereby approved subject to the following
conditions:
1. Development may occur on this site only in conformance with a site - specific Development,
Plan (referred to herein as a PUD Development Plan), reviewed and approved by the Town
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through a separate application and review process pursuant to Section 17.20.110 of the Avon
Municipal Code.
2. Six deed restricted affordable housing units shall be provided on -site. The units shall be
subject to the standard master deed restriction provisions including the Town's applicable
appreciation cap.
3. Shapiro Development, Inc., shall enter into the Development Agreement, attached hereto as
Exhibit B.
INTRODUCED, PASSED ON FIRST READING, APPROVED AND ORDERED
POSTED, this 20 day of November, 1998, and a public hearing shall be held at the regular
meeting of the Town Council of the Town of Avon, Colorado on the 8., day of December
ulding of the Town of Avon, Colorado.
Kris Nash, Town Clerk
Town of Avon, Colorado
Town Council
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INTRODUCED, PASSED ON SECOND READING, APPROVED AND ORDERED
1
Town of Avon, Colorado
Town Council
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APPROVED AS TO FORM:
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Town Attorney
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EXHIBIT B
ORDINANCE 9 8-23
DEVELOPMENT AGREEMENT
Tract B
THIS DEVELOPMENT AGREEMENT (this "Agreement") is made and entered -into as
of December , 1998 by and between Avon Commercial Center Ltd., a Colorado limited
partnership, Shapiro Development Co., general partner, its successors and/or assigns (hereinafter
"Owner ") and the Town of Avon, a municipal corporation of the State of Colorado (the "Town ").
RECITALS
A. Owner is a limited partnership, duly organized and in good standing under the
laws of the State of Colorado.
B. Owner owns a parcel of real property generally referred to as the "Tract B" as
more particularly described in Exhibit A attached to this Agreement (the " Tract B ").
C. Owner desires to develop the Tract B as mixed use development the parcel
referred to as the "Property" which may include, among other uses, lodging, restaurant, retail,
parking, public facilities, open space, office commercial, and other uses.
. D. The Town has authority to zone and govern development of the Property in
accordance with this Agreement, the Comprehensive Plan, the Tract B PUD, (as defined herein),
the Municipal Code, and other applicable Town requirements and polices. Furthermore, the
Town has authority to agree to the vesting of property development rights concerning the
Property, the creation of special districts to provide public facilities relating to the Property, the
rebate of sales and other taxes which would normally be collected as a result of taxable activities
occurring on the Property and the granting of tax credits to assist with the equitable sharing of
costs associated with development of public facilities.
E.- The Property is expected to contribute substantially to the economic growth of the
Town and consequently will increase future tax revenues to the Town. The Town desires to
provide for orderly growth in and around the Town and to increase its tax revenues. Owner, and
the Town desire to provide for a tax rebate mechanism_ so that Owner may use the rebate
revenues or other fees imposed in lieu of taxes to assist in financing the public facilities that will
be required by the Property and which will benefit the Town.
F. The` Town has agreed' to rebate taxes to the Owner and the District subject to
discretionary annual budget appropriations by the Town pursuant to "Development Agreement -
Confluence and Tract C" between Owner, Vail Associates Investments LLC and,the Town.
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G. The legislature of the State of Colorado adopted Sections 24 -68 -101, et se 4. of the
Colorado Revised Statutes (the "Vested Property Rights Statute ") to provide for the
establishment of vested property rights in order to ensure reasonable certainty, stability and
fairness in the land use planning process and in order to stimulate economic growth, secure the
reasonable investment - backed expectations of landowners, and foster cooperation between the
public and private sectors in the area of land use planning; said Vested Property Rights Statute
authorizes the Town to enter into development agreements with landowners providing for vesting
of property development rights.
H. Consistent with the Vested Property Rights Statute, Chapter 17.14 of the
Municipal Code authorizes the Town to enter into development agreements with landowners and
other qualified applicants providing for the vesting of property development rights.
I. Development of the Property in accordance with this Agreement will provide for
orderly growth in accordance with the policy and goals set forth in the Comprehensive Plan,
ensure reasonable certainty, stability and fairness in the land use planning process, stimulate
economic growth, secure the reasonable investment- backed expectations of Owner, foster
cooperation between the public and private sectors in the area of land use planning, and
otherwise achieve the goals and purposes for which the Vested Property Rights Statute and
Chapter 17.14 of the Municipal Code were enacted. In exchange for these benefits and the other
benef is to the Town contemplated by this Agreement, together with the public benefits served
by the -orderly development of the Property, Owner desires to receive the assurance that it may
proceed with development of The Property pursuant to the terms and conditions contained in this
Agreement.
AGREEMENT
NOW, THEREFORE, in consideration of the premises set forth above, the terms,
conditions and covenants set forth in this Agreement, and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, Owner and the Town agree as
follows:
ARTICLE 1
DEFINITIONS AND GENERAL PROVISIONS'
1.0 Definitions. The following terms and references shall have the meanings set forth below
unless the context in which they are used clearly indicates otherwise:
1.1 Comprehensive Plan. The Avon Comprehensive Plan adopted by the Planning
and Zoning Commission of the Town on November 5, 1996.
1.2 Development Standards_. As defined in Section 3.2. The Development Standards
pertaining to the Property are attached to the Preliminary Development and Zoning Plan.
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1.3 District. Shall mean the Avon Station Metropolitan District approved by the
Town to serve the Property.
1.4 Effective Date. The effective date of the Town Council ordinance approving this
Agreement.
1.5 Exhibits. The following are Exhibits to this Agreement, all of which are
incorporated by reference into and made a part of this Agreement:
Exhibit A Legal Description of the Tract B
Exhibit B The Development Standards for the Tract B
1.6 Lodging Tax. For purposes of this Agreement, Lodging Tax shall mean any
municipal lodging or accommodations tax imposed by the Town pursuant to Municipal Code Ch.
3.28 or any similar code provision enacted during the Term of this Agreement upon any sales or
rental of lodging within the Property.
1.7 Municipal Code. The Town's Municipal Code, as in effect from time to time.
1.8 Pro e . The Tract B property more specifically described on Exhibit A.
1.9 PUD. Planned unit development or PUD, as such terms are defined and used in
the Municipal -Code.
1.10 Sanitation District. Eagle River Water and Sanitation District.
1.11 Town. The Town of Avon, a municipal corporation of the State of Colorado.
1.12 Town Council. The Town Council of the Town.
1.13 Tract B. The real property described in Exhibit A attached hereto.
1.14 Vested Property Rights Statute. As defined in Recital H above.
1.15 Zoning. Formal and final passage of an ordinance and/or resolution by the Town
Council confirming a zoning designation on a parcel of land as provided in the Municipal Code.
Such final passage shall be deemed to occur after the passage of any statutory or common law
period for the filing of a petition for referendum to reverse or nullify such zoning ordinance.
1.16 Zoning, Application. The zoning application for the parcel comprising the
Property submitted to the Town on , 1998 and on , 1998.
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ARTICLE II
COVENANTS; THIS AGREEMENT
2.1 Term. In recognition of the size of the development contemplated under this
Agreement, the substantial investment and time required to complete the development of the
Property, the potential -for phased development of the Property, and the possible impact of
economic cycles and varying market conditions during the course of development, Owner and
the Town agree that the term of this Agreement and the vested property rights established under
this Agreement shall commence on the Effective Date and shall continue until the 10th
anniversary of the Effective Date. References to the Term of this Agreement and the vesting of
property rights in the proceeding sentence shall not be deemed to limit or otherwise affect the
rights of the Town described in Section 6.2 to initiate or pursue dissolution of the Districts. After
the expiration of the Term, this Agreement shall be deemed terminated and of no further force or
effect, provided, however that such termination shall not effect (a) the annexation of the
Confluence to the Town; (b) any common -law vested rights obtained prior to such termination,
or (c) any right arising from Town permits, approvals or other entitlements for the Property
which were granted or approved prior to, concurrently with, or subsequent to the approval of this
Agreement and the Development Standards. -
2.2 Amendment of Agreement. Except as otherwise set forth in this Agreement, this
Agreement may be amended or terminated only by mutual consent of the Town and Owner in
writing following the public notice, public hearing and revised ordinance procedures required for
approval of this Agreement. For the purpose of any amendment to this Agreement, "Owner"
shall mean only the Owner as defined herein and those parties, if any, to whom such signatories
have specifically been granted, in writing by Owner, the power to enter into such amendments.
2.3 Cooperation in Defending Legal Challenges. If any legal or equitable action or
other proceeding is commenced by a third party challenging the validity of any provision of this
Agreement or the Development Standards, Owner and the Town agree to cooperate in defending
such action or proceeding and to bear their own expenses in connection therewith. Unless the
Town and Owner otherwise agree, each party shall select and pay its own legal counsel to
represent it in connection with such action or proceeding.
ARTICLE III
ZONING, VESTED RIGHTS AND EXACTIONS
3.1 PUD Zoning. The property shall be zoned as PUD as provided in this Agreement
and in their respective Development Standards.
3.2 Development Standards.
(a) Development Standards. The "Development Standards" set forth the
guidelines for development of the Property are approved by the Town as the zoning for the
Property, and indicate, among other things, set back distances, building height limitations, site
coverage levels, development densities, allowed uses (both permitted uses by right and those
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permitted upon special review), parking requirements and other guidelines and limitations for the
development of the Property.
(b) Subsequent Final Development Approval. After PUD Zoning of the
Property pursuant to Section 3.4(a), Owner and Town shall enter into a Final Development Plan
approval process, pursuant to which Owner and the Town shall, in a mariner which is uniform
with and similar to other phased development approvals of the Town (and consistent with the
provisions of Section 3.4(d) further refine the Development Standards and designate site plans,
PUDs and other details, including the negotiation of a subdivision improvement Weement, if
applicable, all consistent with the Development Standards and this Agreement (collectively,
"Subsequent Final Development Approval."
(c) Preliminary Development Approval. Simultaneously with the granting of
PUD Zoning of the Property pursuant to Section 3.4(a), the Town shall approve the preliminary
development plan.
3.3 Vesting of Property Rights. Owner and Town agree that (a) this Agreement and
the Development Standards and the Preliminary Development Plan constitute an approved
"site- specific development plan" as defined in the Vested Property Rights Statute and Section
17.14.100 of the Municipal Code and as adopted pursuant to the requirements of Section
17.12.020 of the Municipal Code which the Town acknowledges hereby has been approved by
proper procedure under the Town's charter and the Municipal Code, and (b) that Owner as the
legal owner of the Property shall have vested property rights to undertake and complete
development and use of the Property as provided in this agreement and the Development
Standards. Pursuant to Section 17.14.050 of the Municipal Code, approval of this Agreement
and the Development Standards constitutes a vested property right pursuant to Article 68 of Title
24, C.R.S., as amended.
3.4 Property Rights Vested. The rights identified below shall constitute the vested
property rights under this Agreement:
(a) The right to develop, plan and engage in land uses within the Property in
the manner and to the extent set forth in and pursuant to this Agreement, the Development
Standards and the Preliminary Development Plan.
(b) The right to develop, plan and engage in land uses within the Property in
accordance with the densities, physical development standards and other physical parameters set
forth in the Development Standards.
(c) The right to develop the Property in the order, at the rate, and at the time
as market conditions dictate, subject to the terms and conditions of this Agreement and the
Development Standards.
(d) The right to develop and complete the development of the Property
(including, without limitation, the right to receive all Town approvals necessary for the
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development of the Property) with conditions and standards determined pursuant to Section
3.2(b) which are no more onerous than those imposed by the Town upon other Owners in the
Town on a uniform, non - discriminatory and consistent basis, and subject only to the exactions
and requirements set forth in this Agreement and the Development Standards, provided that such
conditions, standards and dedications shall not directly or indirectly have the effect of materially
altering, impairing, preventing, diminishing; imposing a moratorium on development, delaying
or otherwise materially. adversely affecting any of Owner's rights set forth in this Agreement or
the Development'Standards.
(e) The Town shall not initiate any zoning, land use or other legal or
administrative action that would directly or indirectly have the effect of materially altering,
impairing, preventing, diminishing, imposing a moratorium on development, delaying or
otherwise adversely affecting any of Owner's rights set forth in this Agreement or the
Development Standards.
3.5 Exactions.
(a) Access Roads/Plaza. Ingress and egress through the Property shall be
provided by Owner and/or the District in accordance with approved plans for the project and
Owner and/or the District shall assume maintenance of such ingress and egress, including snow
removal.
(b) Drainage. On site drainage facilities for the Property shall be provided by
Owner and/or the District to handle drainage resulting from the development of the ' Property- to
the extent Tract C is not required by independent Covenants and easements to handle Tract B
drainage.
(c) Affordable Housing. The Owner shall develop 6 deed restricted affordable
housing units (efficiency units, approximately 450 square feet each - an "Affordable Housing
Unit ") on the Property or elsewhere within the Town. The nature and form of the deed
restrictions on such Affordable Housing Units shall be substantially similar to that used in other
affordable housing projects in the Town, and shall be determined by Owner and the Town prior
to issuance by the Town of a building permit.
(d) Fee for Fire Station Expansion. Owner shall pay to the Town $40,000.00
for expansion of fire station facilities, payable upon issuance of building permit.
3.6 , No Obligation to Develop. Owner shall have no obligation to develop all or any
portion of the Property and shall have no liability to the Town or any other party for its failure to
develop all or any part of the Property. Owner and the Town contemplate that the Property may
be developed in phases. Owner shall have no obligation to develop all or any portion of any such
phase notwithstanding the development or non - development of any other phase, and Owner shall
have no liability to the Town or any other parry for its failure to develop all or any portion of any
such phase of the Property.
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3.7 Compliance with General Regulations. Except as otherwise provided in this
Agreement or the Development Standards, the establishment of vested property , rights under this
Agreement shall not preclude the application, on a uniform and non - discriminatory basis, of
Town regulations of general applicability (including, but not limited to, building, fire, plumbing,
electrical and mechanical codes, the Municipal Code, and other Town rules and regulations) or
the application of state or federal regulations, as all of such regulations exist on the date of this
Agreement or may be enacted or amended after the date of this Agreement, provided that such
newly enacted or amended Town regulation shall not directly or indirectly have the, effect of
materially altering, impairing, preventing, diminishing, imposing a moratorium on development,
delaying or otherwise adversely affecting any of Owner's rights set forth in this Agreement or the
Development Standards. Owner does not waive its right to oppose the enactment or amendment
of any such regulations.
3.8 Arbitration. The parties agree that any dispute arising under this Article III shall
be subject to arbitration among the parties in' accordance with customary rules of the American
Arbitration Associations which shall be binding upon the parties.
ARTICLE IV
SPECIAL DISTRICTS
4.1 Special Districts. The Town agrees to take all reasonable action necessary to
approve an amendment to the service plan for the Districts to conform to the financial provisions
of this Agreement and to permit the Districts to form qualifying non - profit corporations to carry
out the purposes of this agreement and the amended service plan.
4.2 Dissolution of Districts. Dissolution of the Districts shall occur in the manner set
forth in the service plan for the Districts and in accordance with the provisions and procedures
set forth in C.R.S. §§ 32 -1 -701, et seq. as in effect as of the date of this Agreement.
4.3 Municipal Services. Notwithstanding the creation of the Districts, the Town shall
have the _ responsibility and obligation to provide all municipal services to the Property,
equivalent to those provided to any other area of the Town on a uniform and non - discriminatory
basis.
ARTICLE V
DEFAULTS, REMEDIES, AND TERMINATION
5.1 Default by Town. A "breach" or "default" by the Town under this Agreement
-shall be ' defined as: (a) any zoning, land use or other action or inaction, direct, indirect or
pursuant to an initiated measure, taken without Owner's consent, that materially alters, impairs,
prevents, diminishes, imposes a moratorium on development, delays or otherwise materially and
adversely affects any, development, use or other rights of Owner under this Agreement or the
Development Standards or PUDs; or (b) the Town's failure to fulfill or perform any material
obligation of the Town contained in this Agreement.
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5.2 Default by Owner. A "breach" or "default" by Owner shall be defined as Owner's
failure to fulfill or perform any material obligation of Owner contained in this Agreement.
5.3 Notices of Default. In the event of a default by either parry under this Agreement,
"the non - defaulting party shall deliver written notice to the defaulting party of such default, at the
address specified in Section 8.8, and the defaulting party shall have thirty (30) days from and
after receipt of such notice to cure such default. If such default is not of a type which can be
cured within such thirty (30) day period and the defaulting party gives written notice to the non-
defaulting party within such thirty (30) day period that it is actively and diligently pursuing such
cure, the defaulting party shall have a reasonable period of time given the nature of the default
following the end of such thirty (30) day period to cure such default, provided that such
defaulting party is at all times within such additional time period actively and diligently pursuing
such cure.
5.4 Remedies.
(a) If any default under this Agreement is not cured as described above, the
non - defaulting party shall have the right to enforce the defaulting parry's obligations hereunder
by an action for any equitable remedy, including injunction and/or specific performance, and/or
an action to recover damages. Each remedy provided for in this Agreement is cumulative and is
in addition to every other remedy provided for in this Agreement or otherwise existing at law, in
equity or by statute.
(b) The Town acknowledges that since this Agreement and the Development
Standards constitute a development agreement which confers rights beyond those provided by
the three (3) year statutory vesting approach described in the Vested Property Rights Statute, in
the event of a breach or default by the Town, in addition to any of the foregoing remedies, Owner
shall be entitled to:
(i) recover from the Town any damages that should have been
specifically available to Owner as contemplated in Colorado Revised Statutes
Section 2468- 105(1)(c) as in effect on the Effective Date, plus any other and
additional damages provable at law.
ARTICLE VI
MISCELLANEOUS
6.1 - Applicable Law. Agreement shall be construed and enforced in accordance with
the laws of the State of Colorado.
6.2 No Joint Venture or _Partnership. No form of joint venture or partnership exists
between the Town and Owner, and nothing contained in this Agreement shall be construed as
making Town and Owner joint venturers or partners.
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6.3 Expenses. Except as otherwise_ provided in a separate written agreement, Owner
and the Town shall each bear their respective costs and expenses associated with implementing
and enforcing the terms of this Agreement.
6.4 Waiver. No waiver of one or more of the terns of this Agreement shall constitute a
waiver of other terms. Nor waiver of any provision of this Agreement in any 'instance shall
constitute a waiver of such provision in other instances.
6.5 Town Findings. The Town hereby finds and determines that execution of this
Agreement is in the best interests of the public health, safety, and general welfare, and the
provisions of this Agreement, the PUD, Development Standards, and vesting agreements
contained herein are consistent with the Comprehensive Plan, Municipal Code, and other
applicable regulations and policies of the Town.
6.6 Severabilitv. If any term, provision, covenant or condition of this Agreement is
held by a court of competent jurisdiction to be invalid, void or unenforceable, the remaining
provisions of this Agreement shall continue in full force and effect so long as enforcement of the
remaining provisions would not be inequitable to the party against whom they arc being enforced
under the facts and circumstances then pertaining.
6.7 Further Assurances. Each party shall execute and deliver to the other all such
other further instruments and documents as may be reasonably necessary to carry out this
Agreement in order to provide and secure to the other party the full and complete enjoyment of
its rights and privileges under this Agreement.
6.8 Notices. Any notice or communication required under this Agreement between
the Town and Owner must be in writing, and may be given either personally or by registered or
certified mail, return receipt requested. If given by registered or certified mail, the same shall be
deemed to have been given and received on the first to occur of (i) actual receipt by any of the
addresses designated below as the party to whom notices are to be sent, or (ii) five days a
registered or certified letter containing such notice, properly addressed, with postage prepaid; is
deposited in the United States mail. If personally delivered, a notice shall be deemed to have
been given when delivered to the party to whom it is addressed. Any party hereto may at any
time, by giving written notice to the other party hereto as provided in this Section designate
additional persons to whom notices or communications shall be given, and designate any other
address in substitution of the address to which such notice or communication shall be given.
Such notices or communications shall be given to the parties at their addresses set forth below:
Z. /ADM WACC/LGTWDEVAGRMT DM 9 3:48 PM
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If to Town: Town of Avon Attn: Town Manager
P.O Box 975
Avon, Colorado 81620
If to Owner: Avon Commercial Center Ltd. Attn: Ken Shapiro
Shapiro Development Company
General Partner
P.O. Box 5640
Avon, Colorado 81620
6.9 Assignment. This Agreement shall be binding upon and except as otherwise
provided in this Agreement, shall inure to the benefit of the successors in interest or the legal
representatives of the parties hereto. Except as specifically set forth herein, Owner shall have the
right to assign, delegate or transfer all or any portion of its interests, rights or obligations under
this Agreement to third parties acquiring an interest or estate in the Property, including, but not
limited to, purchasers or long term ground lessees of individual lots, parcels, or of any
improvements now or hereafter located within the Property. Provided that the Town's approval of
the assignee or transferee is first obtained, an assumption or- transfers providing for express
assumption of any of Owner's obligations under this Agreement by its assignee or transferee
shall be relieved of any hither obligations under this Agreement with respect to the matter so
assumed. The Town's obligations hereunder may not be assigned or delegated without Owner's
written consent, and any attempted assignment or delegation by the Town not in complian ce
herewith shall be null and void. The Town's approval of any such assignee or transferee shall not
be unreasonably withheld or delayed.
6.10 Counterparts. This Agreement shall be executed in multiple counterparts, each of
which shall be deemed to be an original and'all of which taken together shall constitute one and
the same agreement.
6.11 Amendments and Waivers. No amendment or waiver of any provision of this
Agreement, nor consent to any departure herefrom, shall in any event be elective unless the same
shall be in writing 'and signed by the parties hereto, and then such waiver or consent shall be
effective only in the specific instance and for the specific purpose for,which given.
IN WITNESS WHEREOF, Owner and the Town have executed this Agreement as of the
date first written above.
I1191+:/
TOWN OF AVON, a municipal corporation
of the State of Colorado
Z:/ADMNIAMLOTB/DEVAGRMT DOC 10 3:48 PM
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TTEST
Clerk
STATE OF COLORADO )
) ss.
COUNTY OF EacLe )
Subscribed before me this A day of �5e pktmQe,C , W", by
as Mayor of Town of Avon, a municipal
State of Colorado.
My co s n expires:
JUUE A.
KESSENICH o
�;. QQ� 11 A L.
pF'Cp�� ( Public
RDO )
) ss.
COUNTY OF lac LQ )
Subscribed before.me this day of (' , 1 zroV 98, by
as Town Clerk-of Avon, a municipal
corporation of the State of Colorado._
commission expires: Zlo Zc�Z
UKESSEN
My Comm Expires V
Q_—Notary Public
Z.IADMIId/ACGLOTB/DEVAORMT.DOC 11 3:48 PM
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OWNER:
Avon Commercial Center Ltd., a Cplorado limited
partnership, Shapiro Development Co:, general
partner
By:
Its:
ATTEST
STATE OF COLORADO )
) ss.
COUNTY OF )
Zoo!
Subscribed before me this ! ' day of 5� , 1948,, by
GJ�-6L V_ �- �jp r►� C— as C C 7 lam. ^� of
Shapiro Development Co. as general partner of Avon Commercial Center Ltd., a Colorado
limited partnership.
My commission expires:
c[I SN E.
o°
•:Deese �P
a 0
05
otary Public
'Z: /ADMMACC/LOTB/DEVAGRMTDOC 12 _3:48 PM
12/03/98
STATE OF COLORADO
COUNTY OF EAGLE ) SS
TOWN OF AVON )
NOTICE IS HEREBY GIVEN OF A PUBLIC HEARING BEFORE THE TOWN COUNCIL
OF THE TOWN OF AVON, COLORADO AT 5:30 P.M. ON THE 8th DAY OF DECEMBER
1998, AT THE TOWN MUNICIPAL BUILDING FOR THE PURPOSE OF CONSIDERING
THE ADOPTION OF ORDINANCE NO. 98-23 SERIES OF 1998:
AN ORDINANCE APPROVING A ZONE CHANGE FROM TC TO PUD, ESTABLISHING
DEVELOPMENT STANDARDS AND APPROVING A DEVELOPMENT AGREEMENT,
LOT B, AVON CENTER AT BEAVER CREEK SUBDIVISION, TOWN OF AVON, EAGLE
COUNTY, COLORADO
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 this Ordinance.
This notice is given and posted by order of the Town Council of the Town of Avon, Colorado
Dated this 1 st day of December, 1998.
TOWN O AV N, COLORADO
BY:
Kris Nash
Town Clerk
POSTED AT THE FOLLOWING PUBLIC PLACES WITHIN THE TOWN OF AVON ON
DECEMBER 1, 1998:
AVON MUNICIPAL BUILDING IN THE MAIN LOBBY
AVON BEAVER CREEK TRANSIT BUS STOP AT AVON CENTER
AVON RECREATION CENTER
CITY MARKET IN THE MAIN LOBBY
1�
i
STATE OF COLORADO )
COUNTY OF EAGLE )
CERTIFICATION
SS
I, Patty B. McKenny, DO HEREBY CERTIFY that I am the Town Clerk of the
Town of Avon and the keeper of the records and corporate seal of said municipal
corporation; and that the attached is a true copy of Ordinance No. 98 -23 ,Series of
1998 of the Town of Avon, County of Eagle and State of Colorado, and that said
Ordinance No. 02 -98, Series 1998 is in effect at the date hereof, and the original is in
my custody as Town Clerk.
WITNESS my hand and official seal of the Town of Avon, County of Eagle, State
of Colorado, this 17th day of September 2002.
Pa cKenny, IT717 rk
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TOWN OF AVON
ORDINANCE NO. 98 -23
SERIES OF 1998
RECEIVED
S C P 2 6 2002
Community Development
AN ORDINANCE APPROVING A ZONE CHANGE, FROM TC TO PUD,
ESTABLISHING DEVELOPMENT STANDARDS AND APPROVING A DEVELOPMENT
AGREEMENT, LOT B, AVON CENTER AT BEAVER CREEK SUBDIVISION, TOWN
OF AVON, EAGLE COUNTY, COLORADO
WHEREAS, Shapiro Development, Inc. has filed an application for PUD Zoning and
establishment of Development Standards, attached hereto as Exhibit A; and
WHEREAS, the Town has agreed to establish zoning for the Property in accordance
with the Development Agreement, attached hereto as Exhibit B; and
WHEREAS, the proper posting, publication and public notices for the hearings before
the Planning & Zoning Commission of the Town of Avon were provided as required by law; and
WHEREAS, the Planning & Zoning .Commission of the Town of Avon held a public
hearing, at which time the applicant and the public were given an opportunity to express their
opinions and present certain information and reports regarding the proposed amendment; and
WHEREAS, following such public hearing, the Planning & Zoning Commission will
forward reports and recommendations on the proposed PUD Zoning and Development Standards
to the Town Council of the Town of Avon; and
WHEREAS, after notices provided by law, this Council held a public hearing on the
8 thiay of December , 199 8 , at which time the public was given an opportunity to express
their opinions regarding the proposed amendment; and
WHEREAS, based upon the evidence, testimony, and exhibits, and a study of the
Comprehensive Plan of the Town of Avon, Town Council of the Town of Avon finds as follows:
1. That the hearings before the Planning & Zoning Commission and the Town Council were
both extensive and complete and that all pertinent facts, matters and issues were
submitted at those hearings.
2. The PUD Zoning and Development Standards are consistent with the Town's
Comprehensive Plan.
3. Adequate facilities are available to serve development for the project's type and scope.
NOW THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE
TOWN OF AVON, COLORADO, that:
The PUD Zoning and Development Standards are hereby approved subject to the following
conditions:
` 1. Development may occur on this site only in conformance with a site - specific Development,
Plan (referred to herein as a PUD Development Plan), reviewed and approved by the Town
8074$9 J:\ COUNCIL \ORDINANCU998\98- 23lotBADC
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!� through a separate application and review process pursuant to Section 17.20.110 of the Avon
Municipal Code.
2. Six deed restricted affordable housing units shall be provided on -site. The units shall be
subiect to the standard master deed restrintinn nrnvkinm innh,A;no the Tnu n'e ann1;r -nh1P
%t appreciation cap.
3. Shapiro Development, Inc., shall enter into the Development Agreement, attached hereto as
A� ,
Exhibit B.
INTRODUCED, PASSED ON FIRST READING, APPROVED AND ORDERED
POSTED, this 24th day of November, 1998, and a public hearing shall be held at the regular
meeting of the Town Council of the Town of Avon, Colorado on the 8 day of December
J" at 5:30 PM in the Municipal Building of the Town of Avon, Colorado.
Town of Avon, Colorado
Town Council
J Yoder, a r
Kris Nash, Town Clerk
INTRODUCED, PASSED ON SECOND READING, APPROVED AND ORDERED
Kris Nash,
Town of Avon, Colorado
Town Council
APPROVED AS TO FORM:
Town Attorney
111111111 Jill 807489
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Sara J Fisher Eagle, Co 289 R 111.00 D 0.00
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EXHIBIT B
ORDINANCE 98 -23
DEVELOPMENT AGREEMENT
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THIS DEVELOPMENT AGREEMENT (this "Agreement ") is made and entered Into as
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of December , 1998 by and between Avon Commercial Center Ltd., a Colorado limited
partnership, Shapiro Development Co. , g eneral partner, its successors and/or assigns (h e re.inafter
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"Owner ") and the Town of Avon, a municipal corporation of the State of Colorado (the "Town").
RECITALS
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A. Owner is a limited partnership, duly organized and in good standing under the
laws of the ,State of Colorado.
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B. Owner owns a parcel of real property generally referred to as the "Tract B" as
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more particularly described in Exhibit A attached to this Agreement (the to Tract B').
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C. Owner desires to develop the Tract B as mixed use development the parcel
referred to as the "Property" which may include, among other uses, lodging, restaurant, retail,
parking, public facilities; open space, office commercial, and' other uses.
D. The Town has authority to zone and govern develop_ ment of the Property in
accordance with this Agreement, the Comprehensive Plan, the Tract B PUD, (as defined herein),
the Municipal Code, and other applicable Town requirements and _ polices. Furthermore, the
Town has authority to agree to the vesting of property development rights concerning the
Property, the creation 'of special districts to provide public facilities relating to the Property, the
rebate of sales and other taxes which would normally be collected as a result of taxable activities
occurring on the Property and the granting of tax credits to assist with the equitable sharing of
costs associated' with development of public facilities.
E. The Property is expected to contribute substantially to the economic growth of the
Town and consequently will increase future tax revenues to the Town. The Town desires to
provide for orderly growth in and around the Town and to increase its tax revenues. Owner, and
the Town desire to provide for a tax rebate mechanism so that Owner may use the rebate
revenues or other fees imposed in lieu of taxes to assist in financing the public facilities that will
be required by the Property and which will benefit the Town.,
F. The Town has agreed to rebate taxes to the Owner and the District subject to
discretionary annual budget appropriations by the Town pursuant to "Development Agreement -
Confluence and Tract C" between Owner, Vail Associates Investments LLC and the Town.
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G. The legislature of the, State of Colorado adopted Sections 24 -68 -101, et sea. of the
Colorado Revised Statutes (the "Vested Property Rights Statute ") to provide for the
establishment of vested property rights in order to ensure reasonable certainty, stability and
fairness in the land use planning process and in order to stimulate economic growth, secure the
reasonable investment- backed expectations of landowners, and foster cooperation between the
public and private sectors in the area of land use planning; said Vested Property Rights Statute
authorizes the Town to enter into development agreements with landowners providing for vesting
of property development rights.
H. Consistent with the Vested Property Rights Statute, Chapter 17:14 of the
Municipal Code authorizes the Town to enter into development agreements with landowners and
other qualified applicants providing for the vesting of property development rights.
I. Development of the Property in accordance with this Agreement will provide for
orderly growth in accordance with the policy and goals set forth in the Comprehensive Plan,
ensure reasonable certainty, stability and fairness in the land use planning process, stimulate
economic growth, secure the reasonable investment- backed expectations of Owner, foster
cooperation between the public and private sectors in the area of , land use planning, and
otherwise achieve the goals and purposes for which the Vested Property Rights Statute and
Chapter 17.14 of the Municipal Code were enacted. In exchange for these benefits and the other
benefits to the Town contemplated by this Agreement, together with the public benefits served.
by the orderly development of the Property, Owner desires to receive the assurance that it may
proceed with development of The Property pursuant to the terms and conditions contained in this
Agreement.
AGREEMENT
NOW, THEREFORE, in consideration of the premises set forth above, the terms,
conditions and covenants set forth in this Agreement, and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, Owner and the Town agree as
follows:
ARTICLE 1
DEFINITIONS AND GENERAL PROVISIONS'
1.0 Definitions. The following terms and references shall have the meanings set forth below
unless the 'context in which they are used clearly indicates otherwise:
1.1 Comprehensive Plan. The Avon Comprehensive. Plan adopted by the Planning
and Zoning Commission of the Town on November 5, 1996.
1.2 Development Standards. As defined in Section 3.2. The Development Standards
pertaining to the Property are attached to the Preliminary Development and Zoning Plan.
WADMMACCUMDEVAGWDOC 2 3:48 PM
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1.3 District. Shall mean the Avon Station Metropolitan District approved by the
Town to serve the Property.
1.4 Effective Date. The effective date of the Town Council ordinance approving this
Agreement.
1.5 Exhibits. The following are Exhibits to 'this Agreement, all of which are
incorporated by reference into and made a part of this Agreement:
Exhibit A Legal Description of the Tract B
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Exhibit B The Development Standards for the Tract B
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1.6 Lod Tax. For oses of this Agreement, Lo m Tax shall mean an
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municipal lodging or- accommodations tax imposed by the Town pursuant to Municipal Code Ch.
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3.28 or any similar code provision enacted during the Term of this Agreement upon any sales or
rental of lodging within the Property.
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1.7 Municipal Code. The Town's Municipal Code, as in effect from time to time. -
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1.8 Pro The Tract B property more specifically described on Exhibit A.
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1.9 PUD. Planned unit development or PUD, as such terms are defined and used in
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the Municipal Code.
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1.10 Sanitation District. Eagle River Water and Sanitation District.
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1.11 Town. The Town of Avon, a municipal corporation of the State of Colorado.
1.12 Town Council. The Town Council of the Town.
1.13 Tract B. The real property described in Exhibit A attached hereto.
1.14 Vested Property Rights Statute. As defined in Recital H above.
1.15 Zoning. Formal and final passage of an ordinance and/or resolution by the Town
Council confirming" a zoning designation on a parcel of land as provided in the Municipal Code.
Such final passage shall be deemed to occur after the passage of any statutory or common law
period for the filing of a petition for referendum to reverse or nullify such zoning ordinance.
1.16 Zoning Application. The zoning application for the parcel comprising the
Property submitted to the Town on , 1998 and on 11998.
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ARTICLE H
COVENANTS; THIS AGREEMENT
2.1 Term. In recognition of the size of the development contemplated under this
Agreement, the substantial investment and time required to complete the ' development of the
Property, the potential for phased development of the Property, and the possible impact of
economic cycles and varying market conditions during the course of development, Owner and
the Town agree that the term of this Agreement and the vested property rights established under
this Agreement shall commence on the Effective Date and shall continue until the 10th
anniversary of the Effective Date. References to the Term of this Agreement and the vesting of
property rights in the proceeding sentence shall not be deemed to limit or otherwise affect the
rights of the Town described in Section 6.2 to initiate or pursue dissolution of the Districts. After
the expiration of the Term; this Agreement shall be deemed terminated and of no further force or
effect, provided, however that such termination shall not effect (a) the annexation of the
Confluence to the Town; (b) any common -law vested rights obtained prior to such termination,
or (c) any'right 'arising from Town permits, approvals or other entitlements for the Property
which were granted or approved prior to, concurrently with, or subsequent to the approval of this
Agreement and the Development Standards. -
2.2 Amendment of Agreement. Except as otherwise set forth in this Agreement, this
Agreement may be amended or terminated only by mutual consent of the Town and Owner in
writing following the public notice, public hearing and revised ordinance procedures required for
approval of this Agreement. For the purpose of any amendment to this Agreement, "Owner"
shall mean only the Owner as, defined herein and those parties, if any, to whom such signatories
have specifically been granted, in writing by Owner, the power to enter into such amendments.
2.3 Cooperation in Defending. Legal Challenges. If any legal or equitable action or
other proceeding is commenced by a third party challenging the validity of any provision of this
Agreement or the Development Standards, Owner and the Town agree to cooperate in defending
such action or proceeding and to bear their own expenses in connection _therewith. Unless the
Town and Owner otherwise agree, each party shall select and pay its own legal counsel to
represent it in connection with such action or proceeding.
ARTICLE III
ZONING, VESTED RIGHTS AND EXACTIONS
3.1 PUD Zoning. The property shall be zoned as PUD as provided in this Agreement
and in their respective Development Standards.
3.2. Development Standards.
(a) DeveloR ent Standards. The "Development Standards" set forth the
guidelines for development of the Property are approved by the Town as the zoning for the
Property, and indicate, among other things, set back distances, building height limitations, site
coverage levels, development densities, allowed uses (both permitted uses by right and those
ZJADIr MACCAMB/DEVAGRMPAOC 4 3:48 PM
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permitted upon special review), parking requirements and other guidelines and limitations for the
development of the Property.
(b) Subsequent Final Development Approval. After PUD Zoning of the
Property pursuant to Section 3.4(a), Owner and Town shall enter into a Final Development Plan
approval process, pursuant to which Owner and the Town shall, in a manner which is uniform
with and similar to other phased development approvals of the Town (and consistent with the
provisions of Section 3.4(d) further refine. the Development Standards and designate site plans,
PUDs and other details, including the negotiation of a subdivision improvement amreement, if
applicable, all consistent with the Development Standards and this Agreement (collectively,
"Subsequent Final Development Approval."
(c) Preliminary Development Approval. Simultaneously with the granting of
PUD Zoning of the Property pursuant to "Section 3.4(a), the Town shall approve the preliminary
development plan.
3.3 Vesting of f Properights. Owner and Town agree that (a) this Agreement and
the Development Standards and the Preliminary Development Plan constitute an approved
"site - specific development plan" as defined in the Vested Property Rights Statute and Section
17.14.100 of the Municipal Code and as adopted pursuant to the requirements of Section
17.12.020 of the Municipal Code which the Town acknowledges hereby has been approved by
proper procedure under the Town's charter and the Municipal Code, and (b) that Owner as the
legal owner of the Property shall have vested property rights to undertake and complete
development and use of the Property as provided in this agreement and the Development
Standards. Pursuant to Section 17.14.050 of the Municipal Code, approval of this Agreement
and the Development Standards constitutes a vested property right pursuant to Article 68 of Title
24, C.R.S.,"as amended.
3.4 Property Rig! is Vested. The rights identified below shall constitute the vested
property rights under this Agreement:
(a) The right to develop, plan and engage in land uses within the Property in
the manner and to the extent set forth in and pursuant to this Agreement, the Development
Standards and the Preliminary Development Plan.
(b) The right to develop, plan and engage in land uses within the Property in
accordance with the densities, physical development standards and other physical parameters set
forth in the Development Standards.
(c) The right to develop the Property in the order, at the rate, and at the time
as market conditions dictate, subject to the terms and conditions of this Agreement and the
Development Standards.
(d) The right to develop and complete the development of the Property
(including, without limitation, the right to receive all Town approvals necessary for the
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development of the Property) with conditions and standards determined pursuant to Section
3.2(b) which are no more onerous than those imposed by the Town upon other Owners in the
Town on a uniform, non - discriminatory and consistent basis, and subject only to the exactions
and requirements set forth in this Agreement and the Development Standards, provided that such
conditions, standards and dedications shall not directly or indirectly have the effect of materially
altering, impairing, preventing, diminishing, imposing a moratorium on development, delaying
or otherwise materially adversely, affecting any of Owner's rights „set_ forth ,in this Agreement or
the Development Standards.
(e) The Town shall not initiate any zoning, land use or other legal or
administrative action that would directly or indirectly have the effect of materially altering,
impairing, preventing, diminishing, imposing a moratorium on development, .delaying or
otherwise adversely affecting any of Owner's rights set forth in this Agreement or- the
Development Standards.
3.5 Exactions.
(a) Access Roads/Plaza. Ingress and egress through the Property shall be
provided by Owner and/or the District in accordance with approved plans for the project and
Owner and/or the District shall assume maintenance of such ingress and egress, including snow
removal.
(b) Drainage. On site drainage facilities for the Property shall be provided by
Owner and/or the District to handle drainage resulting from the development of the Property to
the extent Tract C is not required by independent Covenants and easements to handle Tract B
drainage.
(c) ' Affordable Housing. The Owner shall develop 6 deed restricted affordable
housing units (efficiency units, approximately 450 square feet each - an "Affordable Housing
Unit ") on the Property or elsewhere within the Town. The nature and form of the deed
restrictions on such Affordable Housing Units shall be substantially similar to that used in other
affordable housing projects in the Town, and shall be determined by Owner and the Town prior
to issuance by the Town of a building permit.
(d) Fee for Fire Station Expansion. Owner shall pay to the Town $40,000.00
for expansion of fire station facilities, payable upon issuance of building permit.
. 3.6 No Obligation to Develop. Owner shall have no obligation to develop all or any
portion of the Property and shall have 'no liability to the Town or any other party for its failure to
develop all or any part of the Property. Owner and the Town contemplate that the Property may
be developed in phases. Owner shall have no obligation to develop all or any portion of any such
phase notwithstanding the development or non - development of any other phase, and Owner shall
have no liability to the Town or any other party for its failure to develop all or any portion of any
such phase of the Property.
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3.7 Compliance with General Regulations. Except ' as otherwise provided in this
Agreement or the Development Standards, the establishment of vested property rights under this
Agreement shall not preclude the application, on a uniform and non - discriminatory basis, of
Town regulations of general applicability (including, but not limited to, building, fire, plumbing,
electrical and mechanical codes, the Municipal Code, and other Town rules and regulations) or
the application of state or federal regulations, as all of such regulations exist on the date of this,
Agreement or may be enacted or amended after the date of this Agreement, provided that such
newly enacted or amended Town regulation shall not directly or indirectly have the effect of
materially altering, impairing, preventing, diminishing, imposing a moratorium on development,
delaying or otherwise adversely affecting any of Owner's rights set forth in this Agreement or the
Development Standards. Owner does not waive its right to oppose the enactment or amendment
of any such regulations.
3.8 Arbitration. The parties agree that any dispute arising under this Article III shall
be subject to arbitration among the parties in accordance with customary rules of the American
Arbitration Associations which shall be binding upon the parties.
ARTICLE IV
SPECIAL DISTRICTS
4.1 Special Districts. The Town agrees to take all reasonable action necessary to
approve an amendment to the service plan for the Districts to conform to the financial provisions
of this Agreement and to permit the Districts to form qualifying non -profit corporations to carry
out the purposes of this agreement and the amended service plan.
4.2 Dissolution of Districts. Dissolution of the Districts shall occur in the manner set
forth in the service plan for the Districts and in accordance with the provisions and procedures
set forth in C.R.S. §§ 32 -1 -701, et seq. as in effect as of the date of this Agreement.
4.3 Municipal Services. Notwithstanding the creation of the Districts, the Town shall
have the responsibility and obligation to provide all municipal services to the Property,
equivalent to those provided to any other area of the Town on a uniform and non - discriminatory
basis.
ARTICLE V
DEFAULTS, REMEDIES, AND TERMINATION
5.1 Default by Town. A "breach" or "default" by the Town under this Agreement
shall be defined as: (a) any zoning, land use or other action or inaction, direct, indirect or
pursuant to an initiated measure, taken without Owner's consent, that materially alters, impairs,
prevents, diminishes, imposes a moratorium on development, delays or otherwise materially and
adversely affects any development, use or other rights of Owner under this Agreement or the
Development Standards or PUDs; or (b) the Town's failure to fulfill or perform any. material
obligation of the Town contained in this Agreement.
VADMDUACCILOTB/DEVAM MT.DOC 7 3:48 PM
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5.2 Default by Owner. A "breach" or "default" by Owner shall be defined as Owner's
failure to fulfill or perform any material obligation of Owner contained in this Agreement.
5.3 Notices of Default. In the event of a default by either parry under this Agreement, _
the non - defaulting party shall deliver written notice to the defaulting party of such default, at the
address specified in Section 8.8, and the defaulting party shall have thirty (30) days from and
after receipt of such notice to cure such default. If such default is not of a type which can be
cured within such thirty (30) day period and the defaulting party gives written notice to the non-
defaulting party within such thirty (30) day period that it is actively and diligently pursuing such
cure, the defaulting party shall have a reasonable period of time given the nature of the default
following the end. of such thirty (30) day period to cure such default, provided that such
defaulting party is at all times within such additional time period actively and diligently pursuing
such cure.
5.4 Remedies.
(a) If any default under this Agreement is not cured as described above, the
non - defaulting party shall have the right to enforce the defaulting party's obligations hereunder
by an action for any equitable remedy, including injunction and/or specific performance, and/or
an action to recover damages. Each remedy provided for in this Agreement is cumulative and is
in addition to every other remedy provided for in this Agreement or otherwise existing at law, in
equity or by statute.
(b) The Town acknowledges that since this Agreement and the Development
Standards constitute a development agreement which confers rights beyond those provided by
the three (3) year statutory vesting approach described in the Vested Property Rights Statute, in
the event of a breach or default by the Town, in addition to any of the foregoing remedies, Owner
shall be entitled to:
(i) - recover recover from the Town any damages that should have been
specifically available to Owner as contemplated is Colorado Revised Statutes
Section 2468- 105(1)(c) as in effect on the Effective Date, plus any other and
additional damages provable at law.
ARTICLE VI
NUSCELLANEOUS
6.1 Applicable Law. Agreement shall be construed and enforced in accordance with
the laws of the State of Colorado.
6.2 No Joint Venture_ or Partnership. No form of joint venture or partnership exists
between the Town and Owner, and . nothing contained in this Agreement shall be construed as
making Town and Owner joint venturers or partners.
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6.3 Exnenses. Except as otherwise provided in a separate written agreement, Owner
and the Town shall each bear their respective costs and expenses associated with implementing
and enforcing the terms of this Agreement.
6.4 Waiver. No waiver of one or, more of the terns of this Agreement shall constitute a
waiver of other terms. Nor waiver of any provision of this Agreement in any instance shall
constitute a waiver of such provision in other instances.
6.5 Town Findings. -The Town hereby finds and determines that execution of this
Agreement is in the best interests of the public health, safety, and general welfare, and the
provisions of this Agreement, the PUD, Development Standards, and vesting agreements
contained herein are consistent with the Comprehensive Plan, Municipal Code, and other
applicable regulations and policies of the Town.
6.6 Severability. If any term, provision, covenant or condition of this Agreement is
held by a court of competent jurisdiction to be invalid, void or unenforceable, the remaining
provisions of this Agreement shall continue in full force and effect so long as enforcement of the
remaining provisions would not be inequitable to the party against whom they arc being enforced
under the facts and circumstances then pertaining.
6.7 Further Assurances. Each party shall execute and deliver to the other all such
other further instruments and documents as may be reasonably necessary to carry out this
Agreement in order to provide and secure to the other party the full and complete enjoyment of
its rights and privileges under this Agreement.
6.8 Notices. Any notice or communication required under this Agreement between
the Town and Owner must be in writing, and may be given either personally or by registered or
certified mail, return receipt requested. If given by registered or certified mail, the same shall be
deemed to have been given and received on the first to occur of (i) actual receipt by any of the
addresses designated below as the party to whom notices are to be sent, or (ii) five C days a
registered or certified letter containing such notice, properly addressed, with postage prepaid, is
deposited in the United States mail. If personally delivered, a notice shall be deemed to have
been given when delivered to the party to whom it is addressed. Any party hereto may at any
time, by giving written notice to the other party hereto as provided in this Section designate
additional persons to whom notices or communications shall be given, and designate any other
address in substitution- of the address to which such notice or communication shall be given.
Such notices or communications shall be given to the parties at their addresses set forth below:
ZJADNWACC/ 0r=EVAGRW DW
12/03/98
9
3:48 PM
If to Town: Town of Avon Attn: Town Manager
P.O Box 975
Avon, Colorado 81620
If to Owner: Avon Commercial Center Ltd. Attn: Ken Shapiro
Shapiro Development Company
General Partner
P.O. Box 5640
Avon, Colorado 81620
6.9 Assignment. This Agreement shall be binding upon and except as otherwise
provided in this Agreement, shall inure to the benefit of the successors in interest or the legal
representatives of the parties hereto. Except as specifically set forth herein, Owner shall have the
right to assign, delegate or transfer all or any portion of its interests, rights or obligations under
N
this Agreement to third parties acquiring an interest or estate in the Property, including, but not
m
ca o m m
limited to, purchasers or long term ground lessees of individual lots, parcels, or of any
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improvements now or hereafter located within the Property. Provided that the Town's approval of
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the assignee or transferee is first obtained, an assumption or transfers providing for express
co a m a
assumption of -any of Owner's obligations under this Agreement by its assignee or transferee
shall be .relieved of any further obligations under this Agreement with respect to the matter so
assumed, The Town's obligations hereunder may not be assigned or delegated without Owner's
written consent, and any attempted assignment or delegation by the Town not in compliance
herewith shall be null and void. The Town's approval of any such assignee or,transferee shall not
o
be unreasonably withheld or delayed.
6.10 Counterparts. This Agreement shall be executed in multiple counterparts, each of
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®"
which shall be deemed to be an original and all of which taken together shall constitute one and
the same agreement.
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y
6.11 Amendments and Waivers. No amendment or waiver of any provision of this
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Agreement, nor consent to any departure herefrom, shall in any event be elective unless the same
shall be in writing and signed by the parties hereto, and then such waiver or consent shall be
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effective only in the specific instance and for the specific purpose for which given.
IN WITNESS WHEREOF, Owner and the Town have executed this Agreement as of the
date first written above.
TOWN:
TOWN OF AVON, a municipal corporation
of the State of Colorado
Vir .�_ 1.'a / '
ZlADMWACCa,af fDEVAGRMT.WC 10 3:48 PM
12/03/98
r
STATE OF COLORADO )
) ss.
COUNTY OF &x-Le— )
'e
Subscribed before me this lol day of `.�epl -�r�nr , 11998, by .
I lAcder as Mayor of Town of Avon, a municipal
State of Colorado.
m 14 VB`�
My cos n expires:
JULIE A
KESSENICH
COUNTY • s
6t' -',;�--20:-Z
��N�tary Public - -
Zat�t
Subscribed before me this Ig day of r,el"OP f , W", by
n5 11 as Town Clerk of Avon, a municipal
corporation of the State of Colorado.
commission expires:
T
�pRY
a •-ZL, �z
U (�Alotary Public
My Comm E*dsW4= -- $07489
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ZJADUDUACC&0TBMEVAGRMT.DW 11 3:48 PM
12/03/98
r,
OWNER:
Avon Commercial Center Ltd., a Colorado limited
partnership, Shapiro Development Co., general
Fartner
Its:
ATTEST
STATE OF COLORADO )
) ss.
COUNTY OF�cv� )
` Zoo
Subscribed before me this l day of �Je VM, by
_JD' 1 kV J_ 22yrV1_( as cc---- p% ^ -mS %AzvJ— of
Shapiro Development Co. as -general partner of Avon Commercial Center Ltd., a Colorado
limited partnership.
My commission expires: �l `
OS
% :, r_., -,i,, 9 to,
Public
- 807489 i
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Sara J Fisher Eagle CO 289 R 111.00 D 0.00
Z:/AMd vnocaDTBMsvncRMT.DX 12 3:48 PM
12/03/98
' b
STATE OF COLORADO )
COUNTY OF EAGLE ) SS
TOWN OF AVON )
NOTICE IS HEREBY GIVEN OF A PUBLIC HEARING BEFORE THE TOWN COUNCIL
OF THE TOWN OF AVON, COLORADO AT 5:30 P.M. ON THE 8th DAY OF DECEMBER
1998, AT THE TOWN MUNICIPAL BUILDING FOR THE PURPOSE OF CONSIDERING
THE ADOPTION OF ORDINANCE NO. 98-23 SERIES OF 1998:
AN ORDINANCE APPROVING A ZONE CHANGE FROM TC TO PUD, ESTABLISHING
DEVELOPMENT STANDARDS AND APPROVING A DEVELOPMENT AGREEMENT,
LOT B, AVON CENTER AT BEAVER CREEK SUBDIVISION, TOWN OF AVON, EAGLE
COUNTY, COLORADO
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 this Ordinance.
This notice is given and' posted by order of the Town Council of the Town of Avon, Colorado
Dated this 1 st day of December, 1998.
TOWN O AV N, COLORADO
BY:
Kris Nash
Town Clerk
POSTED AT THE FOLLOWING PUBLIC PLACES WITHIN THE TOWN OF AVON ON
DECEMBER 1, 1998:
AVON MUNICIPAL BUILDING IN THE MAIN LOBBY
AVON BEAVER CREEK TRANSIT BUS STOP AT AVON CENTER
AVON RECREATION CENTER
CITY 'MARKET IN THE MAIN LOBBY
807489
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