TC Ord. No. 2002-19 Approving an amendment of the chapel square planned unit development PUD for lots 22,22A,22B tracts A,B-1,B-2 Block 2 benchmark at beaver creek subdivisionTOWN OF AVON
ORDINANCE NO. 02-19
SERIES OF 2002
AN ORDINANCE APPROVING AN AMENDMENT OF THE
CHAPEL SQUARE PLANNED UNIT DEVELOPMENT (PUD)
FOR LOTS 22,22A, 22B, TRACTS A, B-l, B-2, BLOCK 2,
BENCHMARK AT BEAVER CREEK SUBDIVISION, TOWN
OF AVON, EAGLE COUNTY, COLORADO.
WHEREAS, LB Chapel Square LLC has applied for an Amendment to the Chapel
Square PUD to remove `Note 16' and replace it with the note as outlined in the conditions below,
and to remove the 'Chapel ".designation from.the zoning documents and propose a loading dock
to service Building C; 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 on August 20, 2002, 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 PUD Amendment; and
WHEREAS, following such public hearing, the Planning & Zoning Commission
forwarded its recommendations on the proposed PUD Amendment to the Town Council of the
Town of Avon; and
WHEREAS, after notices provided by law, this Council held a public hearing on the
off` day of .`<sYl gam- , 2002, at which time the public was given an opportunity to
express their opinions regarding the proposed PUD 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:
lATown Clerk\Council\Ordinances\Misc\Ord 02-19 Lots 22, 22A, Tracts A, B-1, 132, 132 BMBC Chapel Sq PUD amend.doc
07
1. 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 Amendment of the Chapel Square PUD as outlined in the application and
following conditions is consistent with goals and objectives of the Town's
Comprehensive Plan, and is compatible with surrounding neighborhood and is
consistent with the public interest.
3. That the development standards for the Chapel Square PUD, Lots 22, 22A, 22B,
Tracts A, B-1, and B-2, Block 2, Benchmark at Beaver Creek Subdivision comply
with each of the Town of Avon's PUD design criteria and that this proposed
development is consistent with the public interest.
NOW THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN
OF AVON, COLORADO, THAT:
The Chapel Square PUD Amendment removing `Note 16' and replacing it with the note as
outlined in the conditions below, and removing the `Chapel' designation from the zoning
documents and propose a loading dock to service Building C is hereby approved with five
conditions:
1. Fagade improvements to the WalMart Building (Tract B-1) must be completed no later a
than January 1, 2003, and `Note 16' accordingly revised on the PUD mylars. No tQ ` m m
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extensions will be granted. In the event of non-compliance of the fagade improvements, 1- N 2
fines will be assessed from the original fagade deadline (October 29, 2001) as required in 4
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the original PUD approval and retroactive to that date per Town Code Section 17.40.010
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(B)•
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2. The final location, dimension, and details of the proposed loading dock to service m
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Building C will be reviewed and approved through the design review process. This will
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require hard-line drawings to scale, and a recalculation of the available landscaping area
for the entire project.
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3. The PUD mylars will be revised to delete the proposed `Chapel' from Lot 22A, as well as
revise the `Uses by Right' chart to indicate whether or not `Churches' is a use by right.
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lATown Clerk\Council\Ordinances\Misc\Ord 02-19 Lots 22, 22A, Tracts A, B-I, 132, B2 BMBC Chapel Sq PUD amend.doc
4. Except as otherwise modified by this permit approval, all material representations made
by the applicant or applicant representative(s) in this application and in public hearing(s)
shall be adhered to and considered binding conditions of approval.
INTRODUCED, PASSED ON FIRST READING, APPROVED AND ORDERED
POSTED, this D'11= day of , 2002, and a public hearing shall be held at the
regular meeting of the Town Council of the Town of Avon, Colorado, on the jO = day of,
- , 2002, at 5:30 P.M. in the Municipal Building of the Town of Avon, Colorado.
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Town of Avon, Colorado
Town Council
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INTRODUCED, PASSED ON SECOND READING, APPROVED AND ORDERED
POSTED the /0t), day of oeM , 2002.
Town of Avon, Colorado
Town Council
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Sara J Fisher Eagle, CO 9 R APPROVED AS TO FORM:
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lATown Clerk\Council\Ordinances\Misc\Ord 02-19 Lots 22, 22A, Tracts A, B-1, 132, 132 BMBC Chapel Sq PUD amend.doc
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 10TH DAY OF
SEPTEMBER 2002, AT THE TOWN OF AVON MUNICIPAL BUILDING FOR THE
PURPOSE OF CONSIDERING THE ADOPTION OF ORDINANCE NO. 02-19, SERIES OF
2002:
An Ordinance approving an Amendment of the Chapel Square Planned Unit Development
(PUD) for Lots 22, 22A, 22B, Tracts A, B-1, B-, Block 2, Benchmark 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 6th day of September 2002.
TOWN OF AVON, COLORADO
BY: Qe I1
Patty c envy
Town erk
POSTED AT THE FOLLOWING PUBLIC PLACES WITHIN THE TOWN OF AVON ON
SEPTEMBER 6,2002:
AVON MUNICIPAL BUILDING, MAIN LOBBY
ALPINE BANK, MAIN LOBBY
AVON RECREATION CENTER, MAIN LOBBY
CITY MARKET, MAIN LOBBY
814716
Page: 4 of 4
11/21/2002 04:49P
289 R 21-00 D 0.00
Sara J Fisher Eagle, 00
1
. _ ire ad -
gr fA'
Memo
To: Honorable Mayor and Town Council
Thru: Bill Efting, Town Manager ~Y
From: Ruth Borne, Director of Community Development
Date September 6, 2002
Re: Second Reading of Ordinance 02-19, An Ordinance Amending the Chapel
Square PUD for Lots 22, 22A, 22B, Tract A, B-1, B-2, Block 2, Benchmark at
Beaver Creek Subdivision
PUBLIC HEARING
Summary
The applicant, LB Chapel Square LLC, has submitted a PUD amendment to amend the
Chapel Square PUD to remove `Note 16' and replace it with the note as outlined in the
Ordinance, and to remove the `Chapel' designation from the zoning documents to allow for
the construction of a loading dock to serve Building C.
The Planning and Zoning Commission recommended approval of this PUD Amendment on
August 20, 2002 with five conditions as attached on Resolution 02-10, including the
assessment of fines. Staff is recommending four conditions as outlined in Ordinance 02-19,
and not recommending fines unless a new facade is not constructed in a timely manner.
Recommendation
Staff recommends that the Town Council pass Ordinance 02-19, amending the Chapel
Square PUD as recommended in the conditions.
Proposed Motion
"I move to approve Ordinance 02-19, approving an Amendment to the Chapel Square PUD
for Lots 22, 22A, 22B, and Tracts A, B-1, B-2, Block 2, Benchmark at Beaver Creek
Subdivision, Town of Avon, Eagle County, Colorado. "
Town Manager Comments
Attachments:
A. Ordinance 02-19
B. Planning and Zoning Commission Staff Report
C. Planning and Zoning Commission Resolution 02-10
Memo to Town Council, September 6, 2002 Page 1 of 1
Ordinance 02-19, Chapel Square PUD Amendment
Staff Report
PUD
AVON
C O L O R A D O
August 6, 2002 Planning & Zoning Commission meeting
Report date
Project type
Legal description
Current zoning
Address
Introduction
July 31, 2002
PUD Amendment
Lots 22, 22A, Tracts A, B1, & B2, Block 2,
BMBC Subdivision (Chapel Square PUD)
PUD
220 & 240 Chapel Square Place
The new owner of Chapel Square, LB Chapel Square LLC (hereinafter referred to as "Owner"),
is seeking several amendments to the existing PUD. The most significant amendment requested
is to remove a condition placed on the original approval that required the fagade of Wa1Mart to
be completed in the same style as the rest of the project within two years after the first
Temporary Certificate of Occupancy being issued for the property. The deadline for completing
the fagade improvements was October 29, 2001.
Additionally, the Owner is seeking an amendment to the Chapel parcel to reconfigure the site to
accommodate four additional parking spaces and a loading area to benefit Building C.
Finally, the Owner is proposing a new comprehensive color scheme for the entire Chapel Square
project including the Wa1Mart building and is anticipating repainting this project by November
of this year. Though this portion of the application is a modification to the final design approval,
proposed colors have been submitted with the PUD amendment application for your review.
PUD Design Criteria
According to the Town of Avon Zoning, Section 17.20.110, the following shall be used as
the principal criteria in evaluating a PUD. It shall be the burden of the applicant to demonstrate
that submittal material and the proposed development plan comply with each of the following
design criteria, or demonstrate that one or more of them is not applicable, or that a particular
development solution is consistent with the public interest.
1. Conformance with the Town of Avon Comprehensive Plan's Goals and Objectives.
The planned amendments generally conform to the Comprehensive Plan goals and
objectives, in particular:
Goal Al (c : Identify parcels of land upon which the existing land use is inappropriate, and
promote their redevelopment.
The required fagade improvements may not be appropriate as previously approved, since the
future building configuration and occupants are yet unknown. Staff is requiring the Owner
Town of Avon Community Development (970) 748-4030 Fax (970) 949-5749
Lot 22, 22A, Tract A, B1, & B2, ,dock 2, BMBC Subdivision, Chapel Square PL.l Amendments
August 6, 2002 Planning & Zoning Commission meeting Page 2 of 4
proceed with a facade and other architectural elements that tie the building into the existing
Chapel Square PUD within the next two (2) years. The Town will require degrees of
protection that the final building configuration will be in compliance with Chapel Square.
Goal I: Ensure that a high quality visual image of the Town is established through both public
and private sector activities.
The requirement of a facade on the WalMart building is an appropriate measure to protect the
visual quality of the Chapel Square PUD. Staff believes that with the specific conditions
outlined herein, the facade improvements can be delayed without undue damage to either the
Town or the Owners.
2. Conformity and compliance with the overall design theme of the town, the sub-area
design recommendations and design guidelines of the Town.
The proposed changes comply with the overall design theme of the Town only if a facade or
other arcade arrangement is constructed concurrently with any building permits being issued
for the WatMart building. To remove the requirement of a facade without requiring the
Owner to construct this building in a manner consistent with the remainder of the Chapel
Square PUD is not acceptable and conflicts with the design theme of this project.
3. Design compatibility with the immediate environment, neighborhood, and adjacent
properties relative to architectural design, scale, bulk, building height, buffer zones,
character, and orientation.
The proposed PUD amendments should continue to be compatible with the immediate
environment and design. The final colors and the proposed loading dock must be reviewed
under separate application for final design approval.
4. Uses, activity, and density provide a compatible, efficient, and workable relationship
with surrounding uses and activity.
The proposed uses and density continue to provide a compatible, efficient, and workable
relationship with the surrounding uses and activities. The deletion of the proposed chapel
from the project as a `use by right' is acceptable, since the Town did not require this chapel
to be constructed through the original PUD approval.
5. Identification and mitigation or avoidance of natural and/or geologic hazards that
affect the property upon which the PUD is proposed.
The proposed amendments should not affect any natural or geologic hazards that may exist
on the PUD.
6. Site plan, building design and location and open space provisions designed to produce a
functional development responsive and sensitive to natural features, vegetation and
overall aesthetic quality of the community. -
The proposed revisions to the site plan can be partially support ed as a loading dock only, and
should produce a more functional access plan for Building C.
7. A circulation system designed for both vehicles and pedestrians addressing on and off
site traffic circulation that is compatible with the Town Transportation Plan.
The circulation system as proposed, with several minor modifications, appears compatible
with the Town Transportation Plan.
Town of Avon Community Development (970) 748-4030 Fax (970) 949-5749
Lot 22, 22A, Tract A, B1, & B2, ,dock 2, BMBC Subdivision, Chapel Square PL, Amendments
August 6, 2002 Planning & Zoning Commission meeting Page 3 of 4
8. Functional and aesthetic landscaping and open space in order to optimize and preserve
natural features, recreation, views and function.
Landscaping and open space are not issues of this PUD amendment.
9. Phasing plan or subdivision plan that will maintain a workable, functional, and efficient
relationship throughout the development of the PUD. The phasing plan shall clearly
demonstrate that each phase can be workable, functional and efficient without relying
upon completion of future project phases.
The phasing plan and subdivision plan will remain functional and efficient, and the proposed
PUD amendments do not appear to affect these items.
10. Adequacy of public services such as sewer, water, schools, transportation systems,
roads, parks, and police and fire protection.
Adequate public services are already in place for the entire Chapel Square PUD project. The
proposed PUD amendments do not affect public services.
11. That the existing streets and roads are suitable and adequate to carry anticipated
traffic within the proposed PUD and in the vicinity of the proposed PUD.
The proposed PUD amendments do not appear to affect the existing road network servicing
the project.
12. Development Standards
The only development standard potentially affected by the proposal is the minimum
landscaping area, which will need to be specifically identified when the new loading dock
area is submitted as a design (minor modification) and building permit.
Additionally, the deletion of the `church' and subsequent clarification on the "Uses By
Right" chart must be recorded on a revised PUD mylar, as will the modification of the
current fagade improvement requirement.
Staff Comments
Staff supports revising the fagade improvements requirements in light of the new ownership and
potential reconfiguration of the WalMart building, both items which were unknown to us during
the original PUD approval. This revision is recommended only if the conditions as outlined by
staff for the new fagade configuration are required, which include specific requirements for the
issuance of certificate of occupancies, and further guarantee on the timing of improvements
within 2 years of the PUD approval. These conditions should guarantee the Town that a revised
architectural fagade will occur on the building or building site that conforms to both Town
design guidelines and the existing Chapel Square project, while at the same time allowing the
Owner and potential tenants the flexibility to redesign the building to accommodate a variety of
uses.
The proposed parking and loading dock to Building C will require civil drawings to determine
whether or not it is functional; however at this time, we would support the use of this area as a
loading dock. We recommend the PUD mylars identify only a loading dock and continue review
of this proposal through a formal design review process.
Town of Avon Community Development (970) 748-4030 Fax (970) 949-5749
Lot 22, 22A, Tract A, B1, & B2, dock 2, BMBC Subdivision, Chapel Square PL.., Amendments
August 6, 2002 Planning & Zoning Commission meeting Page 4 of 4
Finally, the proposed colors should be reviewed on-site as a scale mockup to determine whether
or not they work in context of the building style and setting. This item will be officially handled
as a modification to final design.
Recommended Motion
Approve Resolution 02-10, recommending to the Town Council approve with conditions the
Chapel Square PUD Amendment, Lots 22, 22A, Tract B-1, and Tract B-2, Block 2, Benchmark
at Beaver Creek Subdivision, Town of Avon, Eagle County, Colorado with the following
conditions:
1. The existing Chapel Square PUD Note 16, under Uses regarding the completion of the
WalMart facade be replaced with:
"16. The existing colors shall be repainted for the entire project on or before December 1, 2002,
as formally approved through the design review process by the Planning and Zoning
Commission.
a. In the event that any new tenant occupies the existing Wa1Mart building after
WalMart has vacated the structure, the Planning & Zoning Commission prior to
the issuance of any permit, including signage, must approve the arcade and related
improvements. The improvements must be completed prior to The improvements
must be completed prior to any occupancy or the issuance of a certificate of
occupancy.
b. In no event shall the existing Wa1Mart building maintain only the repainting
improvements specified in Note 16 longer than eighteen (18) months from the
date of the PUD Amendment approval. The owner must submit a design review
application to the Town and proceed with facade improvements within two (2)
years from the date of this PUD Amendment."
2. The revised color scheme must be approved through a modification to final design,
including an on-site mockup to be reviewed and approved by the Planning and Zoning
Commission.
3. The final location, dimension, and details of the proposed loading dock to service
Building C will be reviewed and approved through the design review process. This will
require hard-line drawings to scale, and a recalculation of the available landscaping area
for the entire project.
4. The PUD mylars will be revised to delete the proposed `Chapel' from Lot 22A, as well as
revise the `Uses by Right' chart to indicate whether or not `Churches' is a use by right.
5. Except as otherwise modified by this permit approval, all material representations made
by the applicant or applicant representative(s) in this application and in public hearing(s)
shall be adhered to and considered binding conditions of approval.
If you have any questions regarding this project or any planning matter, please call me at 748-
4030, or stop by the Community Development Department.
Respectfully submitted,
Tambi Katieb, AICP
Town of Avon Community Development (970) 748-4030 Fax (970) 949-5749
INIUMMMMMINOM
Staff Report
SIGN DESIGN AVO N
C O L O R A D O
August 6, 2002 Planning & Zoning Commission meeting
Report date August 2, 2002
Sign type Master Sign Program Amendment
Legal description Lot 22, 22A, Tracts A, B-1, B-2, Block 2, Benchmark at
Beaver Creek Subdivision
Zoning Planned Unit Development (PUD)
Address 220 and 240 Chapel Place
Introduction
The applicant, Timberline Commercial Real Estate, is proposing a Master Sign Program (MSP)
Amendment to the Chapel Square Master Sign Program. They are requesting to change the
existing bronze faces and white lettering to colored letters with a white backing. Currently, they
are limited to only white letters carved into a bronze backdrop. They would also like to amend
the temporary sign code so banners would be permitted to comply with the Town of Avon
regulations.
In addition, they are proposing to add an additional tenant to the freestanding Outback
Steakhouse sign on the North side of the property (adjacent to I-70), if one new tenant leases the
Wal-Mart building. The original MSP allows for a second tenant on the North Monument sign,
therefore there is no need for this Amendment. Prior to the second tenant installing the North
Monument sign, a sign permit will be required to be submitted to the Town for approval.
Design Review Considerations
According to the Town of Avon Sign Code, Section 15.28.070, the Planning & Zoning
Commission shall consider the following items in reviewing proposed designs:
1. The suitability of the improvement, including materials with which the sign is to be
constructed and the site upon it is to be located.
The material with which the signs are to be constructed is a metal cabinet sign with Plexiglas
faces, which are discouraged by the Town of Avon sign design guidelines. The locations of
the new signs are to be in the same location as the existing signs and will remain on the first
floor only. The sizes of the signs are to remain unchanged thus keeping with the scale of the
building.
Town of Avon Community Development (970) 949-4280 Fax (970) 949-5749
Lot 22, 22A, Tracts A, B-1, B-2, Block 2, BMBC Subdivision, Sign Design
August 6, 2002 Planning & Zoning Commission meeting Page 2 of 3
2. The nature of adjacent and neighboring improvements.
The existing Wal-Mart and City Market signs are pan channel signs mounted directly to the
building's exterior.
3. The quality of the materials to be utilized in any proposed improvement.
The Plexiglas material proposed for the lettering complies with the Town of Avon sign
design guidelines, although it is inconsistent with the existing tenant signs on Chapel Square.
4., The visual impact of any proposed improvement, as viewed.from any adjacent or
neighboring property.
There will be adverse visual impact to the adjacent and neighboring property owners due to
the increased light pollution from the white faces. While the signs will now be allowed to
have color, the white backing will create greater light pollution. This could pose a concern
for the residents of Chapel Square who face North and West, as they will have to deal with
the additional light through their windows.
5. The objective that no improvement will be so similar or dissimilar to other signs in the
vicinity that values, monetary or aesthetic, will be impaired.
The proposed MSP creates the potential for inconsistency among signs. Some tenants may
choose the white face and colored letters while others will choose to keep the existing bronze
backing. This will create a visual imparity that is not architecturally harmonious with the
entire structure as a whole. These types of signs are not encouraged by the Town of Avon,
and therefore are not generally located in the Town of Avon core business district.
6. Whether the type, height, size, and/or quality of signs generally complies with the sign
code, and are appropriate for the project.
The height and size of the signs are appropriate. The white backing is not in compliance with
the sign design guidelines set forth by the Town of Avon. The white backing on the signs is
not appropriate for a building that has residential tenants. The white backing will create
undue light pollution to these units and cause the architectural harmony of the building to be
compromised.
7. Whether the sign is pnmarily oriented to vehicular or pedestrian traffic, and whether
the sign is appropriate for the determined orientation
The signs will be primarily oriented to pedestrian traffic, yet they will serve as an identifier
for vehicular traffic as well.
Staff Recommendation
Staff recommends approval of this project with the following conditions:
Tenants are allowed to use colored letters with the existing bronze facing. White facing
is specifically not permitted.
2. The addition of a second tenant on the North Monument sign will require a sign permit to
be submitted to and approved by the Town.
Town of Avon Community Development (970) 949-4280 Fax (970) 949-5749
Lot 22, 22A, Tracts A, B-1, B-2, Block 2, BMBC Subdivision, Sign Design
August 6, 2002 Planning & Zoning Commission meeting Page 3 of 3
3. Except as otherwise modified by this permit approval, all material representations made
by the applicant or applicant representative(s) in this application and in public hearing(s)
shall be adhered to and considered binding conditions of approval.
If you have any questions regarding this project or any planning matter, please call me at
748.4413, or stop by the Community Development Department.
submitted
Tambi Katieb
Town of Avon Community Development (970) 949-4280 Fax (970) 949-5749
TOWN OF AVON
PLANNING & ZONING COMMISSION
RESOLUTION NO. 02-10
SERIES OF 2002
A RESOLUTION RECOMMENDING TO THE TOWN COUNCIL OF THE TOWN OF
AVON APPROVAL OF A PUD AMENDMENT TO THE CHAPEL SQUARE PUD FOR
LOTS 22,22A, TRACTS A, B1 & B2, BLOCK 2, BENCHMARK AT BEAVER CREEK
SUBDIVISION, TOWN OF AVON, EAGLE COUNTY, COLORADO
WHEREAS, LB Chapel Square LLC, has applied for an amendment to Lots 22, 22A, Tract
A, B 1 & B2, Block 2, Benchmark at Beaver Creek Subdivision, to amend the Chapel
Square PUD to remove `Note 16' and replace it with the note as outline in the condition,
and to remove the `Chapel' designation from the zoning documents; and
WHEREAS, after notices required by law, a public hearing on said application was held by
the Planning & Zoning Commission of the Town of Avon; and
WHEREAS, said application is consistent with all legal requirements.
NOW, THEREFORE, BE IT RESOLVED that the Planning and Zoning Commission hereby
recommends to the Town Council of the Town of Avon approval of the application for
PUD Amendment for Lot 22, 22A, Tract A, B1, & B2, Block 2, Benchmark at Beaver
Creek Subdivision, Town of Avon, Eagle County, Colorado with the following
conditions:
Fagade improvements to the WalMart Building (Tract B-1) must be completed no later
than January 1, 2003, and `Note 16' accordingly revised on the PUD mylars. No
extensions will be granted, or fines for non-compliance to the original fagade deadline
(October 29, 2001) as required in the original PUD approval will be assessed and
retroactive to that date per Town Code Section 17.40.010 (B).
2. The final location, dimension, and details of the proposed loading dock to service
Building C will be reviewed and approved through the design review process. This will
require hard-line drawings to scale, and a recalculation of the available landscaping area
for the entire project.
3. The PUD mylars will be revised to delete the proposed `Chapel' from Lot 22A, as well as
revise the `Uses by Right' chart to indicate whether or not `Churches' is a use by right.
4. The applicant consider revising the project name to remove `Chapel' from the title.
5. Except as otherwise modified by this permit approval, all material representations made
by the applicant or applicant representative(s) in this application and in public hearing(s)
shall be adhered to and considered binding conditions of approval.
ADOPTED THIS 20th DAY OF AUGUST, 2002
Signe
Date: Z d
Chris Evans, Chairman
Attest:
C
Date: Z
Michael McClinton, Secretary
TOWN OF AVON
ORDINANCE NO. 02-19
SERIES OF 2002
AN ORDINANCE APPROVING AN AMENDMENT OF THE
CHAPEL SQUARE PLANNED UNIT DEVELOPMENT (PUD)
FOR LOTS 22, 22A9 22B, TRACTS A, B-19 B-2, BLOCK 2,
BENCHMARK AT BEAVER CREEK SUBDIVISION, TOWN
OF AVON, EAGLE COUNTY, COLORADO.
WHEREAS, LB Chapel Square LLC has applied for an Amendment to the Chapel
Square PUD to remove `Note 16' and replace it with the note as outlined in the conditions below,
and to remove the `Chapel' designation from the zoning documents and propose a loading dock
to service Building C; 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 on August 20, 2002, 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 PUD Amendment; and
WHEREAS, following such public hearing, the Planning & Zoning Commission
forwarded its recommendations on the proposed PUD Amendment to the Town Council of the
Town of Avon; and
WHEREAS, after notices provided by law, this Council held a public hearing on the
1~~= day of 2002, at which time the public was given an opportunity to
express their opinions regarding the proposed PUD 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:
IATown Clerk\Council\Ordinances\Misc\Ord 02-19 Lots 22, 22A, Tracts A, B-1, 132, B2 BMBC Chapel Sq PUD amend.doc
1. 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 Amendment of the Chapel Square PUD as outlined in the application and
following conditions is consistent with goals and objectives of the Town's
Comprehensive Plan, and is compatible with surrounding neighborhood and is
consistent with the public interest.
3. That the development standards for the Chapel Square PUD, Lots 22, 22A, 22B,
Tracts A, B-1, and B-2, Block 2, Benchmark at Beaver Creek Subdivision comply
with each of the Town of Avon's PUD design criteria and that this proposed
development is consistent with the public interest.
NOW THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN
OF AVON, COLORADO, THAT:
The Chapel Square PUD Amendment removing `Note 16' and replacing it with the note as
outlined in the conditions below, and removing the `Chapel' designation from the zoning
documents and propose a loading dock to service Building C is hereby approved with five
conditions:
Fagade improvements to the WalMart Building (Tract B-1) must be completed no later
than January 1, 2003, and `Note 16' accordingly revised on the PUD mylars. No
extensions will be granted. In the event of non-compliance of the facade improvements,
fines will be assessed from the original fagade deadline (October 29, 2001) as required in
the original PUD approval and retroactive to that date per Town Code Section 17.40.010
(B).
2. The final location, dimension, and details of the proposed loading dock to service
Building C will be reviewed and approved through the design review process. This will
require hard-line drawings to scale, and a recalculation of the available landscaping area
for the entire project.
3. The PUD mylars will be revised to delete the proposed `Chapel' from Lot 22A, as well as
revise the `Uses by Right' chart to indicate whether or not `Churches' is a use by right.
lATown Clerk\Council\Ordinances\Misc\Ord 02-19 Lots 22, 22A, Tracts A, B-1, B2, B2 BMBC Chapel Sq PUD amend.doc
4. Except as otherwise modified by this permit approval, all material representations made
by the applicant or applicant representative(s) in this application and in public hearing(s)
shall be adhered to and considered binding conditions of approval.
INTRODUCED, PASSED ON FIRST READING, APPROVED AND ORDERED
POSTED, this a~ day of , 2002, and a public hearing shall be held at the
regular meeting of the Town Council of the Town of Avon, Colorado, on the l~ day of,
4ecA- , 2002, at 5:30 P.M. in the Municipal Building of the Town of Avon, Colorado.
Town of Avon, Colorado
Town Council
M60r
ATTEST: ll'.{' ,
LL~ 11
P-.~
Town le
INTRODUCED, PASSED ON SECOND READING, APPROVED AND ORDERED
POSTED the day of , 2002.
Town of Avon, Colorado
Town Council
Mayor
ATTEST:
Town Clerk
APPROVED AS TO FORM:
Town Attorney
IATown Clerk\Council\Ordinances\Misc\Ord 02-19 Lots 22, 22A, Tracts A, B- 1, B2, B2 BMBC Chapel Sq PUD amend.doc
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 10TH DAY OF
SEPTEMBER 2002, AT THE TOWN OF AVON MUNICIPAL BUILDING FOR THE
PURPOSE OF CONSIDERING THE ADOPTION OF ORDINANCE NO. 02-19, SERIES OF
2002:
An Ordinance approving an Amendment of the Chapel Square Planned Unit Development
(PUD) for Lots 22, 22A, 22B, Tracts A, B-1, B-, Block 2, Benchmark 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 6th day of September 2002.
TOWN OF AVON, COLORADO
BY:
Pa cKenny
To lerk
POSTED AT THE FOLLOWING PUBLIC PLACES WITHIN THE TOWN OF AVON ON
SEPTEMBER 6,2002:
AVON MUNICIPAL BUILDING, MAIN LOBBY
ALPINE BANK, MAIN LOBBY
AVON RECREATION CENTER, MAIN LOBBY
CITY MARKET, MAIN LOBBY
i
1
,,wr-30-01 09:03am From-
DUNN & ADPLANALP, P. C.
emorandum
M
DATE: AprH 30, 2002
TO: Tambi Katieb
FROM: John Dunn
RE: Status of Development Rights on Lot B
T-504 P-002!002 F-684
This memorandum responds to your memorandum to me dated Apra 26, 2002.
You have asked that 1 address the request of Shapiro Development Company to verify the status
of development rights on Lot B, Avon Center at Beaver Creek Subdivision.
As you note in your memorandum, a Development Agreement was entered into
on September 19, 1998, and a Preliminary Development and Zoning plan (including
development standards) dated December 3, 1998, approved by Ordinance No. 98-23, adopted
December 8, 1998. The Plan was expressly referenced in the Development Agreement at
Paragraph 3.3. Paragraph 3.4 of the Development Agreement ideutified as a vested property
right "the right to develop, plan and engage in land uses within the P
the extent set forth, in and pursuant to this Agreement, the Development Standin the ards and the and to
Preliminary Development Plan." As you also note in your memorandum, a final development
plan was approved by ordinance adopted February 23, 1999, which expired on February 23,
2002, by virtue of § 17.20.110L, Avon Municipal Code.
It is my opinion that Shapiro Developm
the d ent Company continues to be vested as to
development rights incorporated into the Preliminary Development and Zoning plan dazed
December 3, 1998. By virtue of Paragraph 2.1 of the Development Agreement, it will remain
esied as to those development rights until December 16, 2008.
4CWood
EXHIBIT B
ORDINANCE 98-23
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 conceming the
Property, the creation of special districts to provide public facilities relating to the Property, the
rebate of sales end 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.
12/03/98
G. The legislature of the State of Colorado adopted Sections 24-68-101, et se q. 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.
1. 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.
12 03198
F
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 Property. 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.
I 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.
I 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
I Property submitted to the Town on , 1998 and on , 1998.
_
Z /MMMArrA nTnmcyeGRMt nnC 3.48 PM
I 12/03/98
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
Z /ADM1NACCA0TBIDE VAGRMT DOC Q
12/03/98
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 agreement, 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 Pioperty 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
1 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
I forth in the Development Standards.
(c) The right to develop the Property in the order, at the rate, and at the dime
as market conditions dictate, subject to the terms and conditions of this Agreement and the
Development Standards.
I (d) The right to develop and complete the development of the Property
i (including, without limitation, the right to receive all Town approvals necessary for the
- b/hDPIRWAGPLOTHmHYAGAMT 996 5 3A4 DNA
I 12/03/98
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, imRairs,
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.
12/03/98
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 party 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 tiXne 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 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.
12/03/98
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 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 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:
12/03198
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 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
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.
6.1 f 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.
TOWN:
TOWN OF AVON, a municipal corporation
of the State of Colorado
By:
~Mayor
12/03/98
~TTEST
Clerk
STATE OF COLORADO )
) ss.
COUNTY OF &cLe )
Subscribed before me this Iq day of JepEember , 1-998, by
_ w Uocter as Mayor of Town of Avon, a municipal
cortp4AW 4k State of Colorado.
My comifls n expires:
JUDEA.
KESSENICH
)
WtMMDO
) ss.
COUNTY OF
Q - o'~in • 2tx~2
Q tary Public .
Subscribed before me this ~g day of ~ `op- V by
5 l~l(1 as Town Clerk of Avon, a municipal
corporation of the State of Colorado.
My commission expires: ' ~1v "ZmZ
~paY
o.
UKESSENICH
My Comm Expires 9/2fi/20Q2
Li4otary Public
f
ZIAWWACGLOTBMEVAGRW DOC 1.48 PM
12/03/98
OWNER:
Avon Commercial Center Ltd., a Cplorado limited
partnership, Shapiro Development Co., general
partner
By:
Its:
ATTEST
STATE OF COLORADO )
) ss.
Etc )
COUNTY OF
ZpU (
Subscribed before me this PI day of S~ , I-M, by
~j•~-kc~~ VDr,-.r_ as CL~- ~~^eS ~Az v~~ of
Shapiro Development Co. as general partner of Avon Commercial Center Ltd., a Colorado
limited partnership.
My commission expires:
t
~ S
~•A
9~•~a LAG •POo
OR COLON
f-..I)!res 9/18/2005
otary Public
Z fADmMlACClLOTB/DEVAGRMT DOC 12 3:48 PM
12/03/98
at..
$TATE OF COLORADO )
~O JNTY 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
BY:
,COLORADO
POSTED AT THE FOLLOWING PUBLIC PLACES WITH N 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
Kxis Nash
Town Clerk
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Staff Report
PUD
V'O N
C O L O R A D O
August 20, 2002 Planning & Zoning Commission meeting
Report date
Project type
Legal description
Current coning
Address
Introduction
August 15, 2002.
PUD- Final Development Plan
Lot B, ACBC Subdivision
PUD (Expired Plan)
0130 West Beaver Creek Boulevard
The Lot B PUD was approved via a Development Agreement on September 19, 1998, and a
Preliminary Development Plan was subsequently approved for this project on December 3, 1998
by Ordinance 98-23. Additionally, a final development plan was approved by Ordinance 99-3
(effective on February 23, 1999). This final development plan has since expired, and the project
proponents are now seeking to re-establish this final development plan.
The general development plan calls for 4 buildings (A, B, C and D). Buildings A and B are both
proposed as 2-story mixed use (commercial, accommodation, and employee housing units) that
parallel the pedestrian mall. Building C is proposed as an 8-floor building that contains limited
commercial space, and 97 accommodation units. Building D is proposed as a 1-story commercial
property that is located entirely on Lot A that connects to Building C via a covered walk.
Parking is proposed as a combination of surface and garage parking, featuring garage access .
along the joint access easement shared with Lot C.
Though certain developments rights were vested based upon the original Preliminary
Development Plan of December 3, 1998 until December 16, 2008, the proposed final
development plan is seeking the following changes from these rights:
• The inclusion of an additional 22 accommodation units, which may be rented, sold, or
otherwise occupied separately from the primary units to which they are attached. The
original vesting was for 82 units. The parking formula remains consistent with the
original approval of 1 space per unit, regardless of bedroom program.
• A reduction of proposed commercial space in Buildings A and B from 22,404 square feet
to 17,503 square feet. However, overall permitted commercial space remains 50,000
square feet of gross leasable area..
• An increase in the rear property setback (at pedestrian mall level) from 5 to 10 feet to
conform to the recommendations of the Town Center Plan, should the Town decide to
implement the street improvements in the future.
• A reduction of 270 parking spaces to 267 spaces. Otherwise, other parking formulas
remain the same as original PUD approval.
Town of Avon Community Development (970) 748-4030
Fax (970) 949-5749
Lot B, Avon Center at Beaver Ucek Subdivision PUD Final Development Plan
August 20, 2002 Planning & Zoning Commission meeting Page 2 of 6
• A proposed compact parking space stall size reduction for 35% of the total spaces
provided of both surface and garage spaces.
PUD Design Criteria
According to the Town of Avon Zoning Code, Section 17.20.110, the following shall be used as
the principal criteria in evaluating a PUD. It shall be the burden of the applicant to demonstrate
that submittal material and the proposed development plan comply with each of the following
design criteria, or demonstrate that one or more of them is not applicable, or that a particular
development solution is consistent with the public interest.
1. Conformance with the Town of Avon Comprehensive Plan's Goals and Objectives.
The proposed project generally conforms to the Town of Avon Comprehensive Plan goals
and objectives, more specifically to the following goals:
Goal Al: Ensure a balanced system of land uses that maintains and enhances Avon's
identity as a residential community, and as a regional commercial, tourism and
entertainment center.
The combination lodging, retail and service commercial uses generally conform to this goal.
Policy A3.5: Since undeveloped land in the Town Center is scarce, it will be developed at
higher density, include a vertically integrated mix of commercial and residential
uses, and rely primarily on underground and/or structured parking.
The proposed vertical mix of uses and residential and commercial densities generally
conform to this policy. The majority of the parking is underground for this project.
Goal B2: Establish the Town Center Area as an inviting, vibrant and safe pedestrian-
oriented cultural, retail and entertainment hub.
Adding accommodation units and commercial uses to this site will increase the pedestrian
activity in the mall area.
Design considerations required to create an "inviting, vibrant, and safe pedestrian-oriented
hub" will be reviewed in detail through the design review process. Particular attention will be
given to the access from the mall through the walkway connection between Building D and
Building C, as well as the width of the walkway along the property line between this project
and Lot C.
Policy B2.2: Development and redevelopment in the Town Center should effectively separate
vehicles from pedestrian access and circulation.
The PUD development plan shows a proposed pedestrian network within the project, with
connections with the Pedestrian Mall and adjacent properties and public ways. Further
refinement of this plan will be required though the design-review process, including the
provision of a minimum provision of 20% of the lot area for landscaping. Landscaping does
not include walkways, as proposed by the plans.
Policy B2.3: Encourage a range of uses in the Town Center, including retail, offices, hotels,
recreation, tourism, and entertainment.
Town of Avon Community Development (970) 748-4030 Fax (970) 949-5749
Lot B, Avon Center at Beaver C eek Subdivision PUD Final Development Plan
August 20, 2002 Planning & Zoning Commission meeting Page 3 of 6
The plan provides a mix of accommodation units (timeshares) and commercial space. Staff
anticipates uses similar to those in the existing Avon Center and other projects in the Town
Center zone district.
Policy E2.2: Structured parking will be incorporated in all new development and major
redevelopment in the Town Center.
Structured parking is incorporated in this proposal, with.limited surface parking that will
require some refinement to allow fire access and remove the proposed surface compact
spaces. The project is combining parking for Lot A (Avon Center) and Lot B. As currently
configured, there are a total of 244 spaces in use by the Avon Center - in excess of the Town
zoning requirements by our calculations. Though this project proposes to eliminate a
minimum of 85 existing surface spaces, they are compensated in the underground parking
structure proposed.
The Lodge at Avon Center (Lot A) is zoned Town Center, has approximately 40,801 GLFA
of commercial and office space, 52 condominium units, and provides 244 parking spaces in
total (104 underground and 140 surface, including the surface parking on Lot B). Records
indicate that the total parking requirement for Avon. Center when approved appears to have
been 214 spaces. The total demand created by Lot B's current proposal calls for 152 spaces.
The total number of aggregate parking spaces proposed in this plan for these two projects
will be 371 spaces, as compared to the required 366 spaces. Access requirements may
slightly reduce the number of proposed spaces, and will. be further reviewed on a revised site
plan before Council action and at final design.
Additionally, compact spaces shown in the garage levels do not comply with requirements of
the zoning code and must be revised to comply with the 30% maximum for compact
underground spaces. Likewise, the nine compact spaces shown as surface parking do not
conform.
Policy H1.3: New development and redevelopment adjacent to the Pedestrian Mall should
support its becoming a key focal point and unifying element for the Town Center.
2. Conformity and compliance with the overall design theme of the town, the sub-area
design recommendations and design guidelines of the Town.
The project generally complies with the overall design theme recommended in the Town
Center Plan, however, guidelines in the plan call for a minimum pedestrian walkway between
this project and Lot C of at least 6' in width. It is unclear from this plan whether or not that
is being proposed. Additionally, the frontage to the pedestrian mall should allow sufficient
space for the inclusion of an arcade or canopy feature, similar to the office/commercial
building on Lot C. The project will be required to conform to the Design Guidelines of the
Town, and will be reviewed in detail at that time.
3. Design compatibility with the immediate environment, neighborhood, and adjacent
properties relative to architectural design, scale, bulk, building height, buffer zones,
character, and orientation.
The project generally conforms to the immediate environment and neighborhood, creating an
efficient relationship with the existing Lodge at Avon Center and potentially Lot C. Building
height was previously approved through the PUD approval as being measured from the Avon
Town of Avon Community Development (970) 748-4030 Fax (970) 949-5749
Lot B, Avon Center at Beaver Ueek Subdivision PUD Final Development Plan
August 20, 2002 Planning & Zoning Commission meeting Page 4 of 6
Center, and the final design plans should clarify the actual height. The buildings proposed
appear to be functional in their orientation, and compatible to the adjacent properties in bulk
and scale.
4. Uses, activity, and density provide a compatible, efficient, and workable relationship
with surrounding uses and activity.
The proposed uses and density are compatible with the surrounding properties, however,
several major clarifications must be made prior to the final development plan being
approved, in particular the elevations and grades as they relate to the potential redevelopment
of the pedestrian mall and connectivity to Lot C.
5. Identification and mitigation or avoidance of natural and/or geologic hazards that
affect the property upon which the PUD is proposed.
There appears to be no mitigation or avoidance of hazards required with the PUD plan
proposed. Adequate shared drainage easements exist between both Lot B and Lot C and
should be sufficient to accommodate post-development drainage. Additionally, snow will be
removed to an off-site location such as the Eagle County landfill.
6. Site plan, building design and location and open space provisions designed to produce a
functional development responsive and sensitive to natural features, vegetation and
overall aesthetic quality of the community.
The site plan is constrained by the density proposed, required parking and landscaping, and
the general boundaries of the property. No open space is being proposed, and the amount of
landscaping proposed with this plan appears to be inadequate. The aesthetics of the project
will be reviewed in more detail through the design review process.
7.. A circulation system designed for both vehicles and pedestrians addressing on and off
site traffic circulation that is compatible with the Town Transportation Plan.
The proposed circulation pattern poses potential access issues for the Eagle River Fire
Protection District, and in particular for Buildings A and B. The proposed emergency access
is not supported and will be revised. The project generally conforms to the Town
Transportation Plan recommendations; however, clarification of pedestrian walkways,
corridor lighting, and proposed parking is required.
8. Functional and aesthetic landscaping and open space in order to optimize and preserve
natural features, recreation, views and function.
Landscaping requirements appear to require revision, since this proposal includes walkways,
which are specifically excluded from the 20% minimum landscape area per the Town of
Avon Zoning Code.
9. Phasing plan or subdivision plan that will maintain a workable, functional, and efficient
relationship throughout the development of the PUD. The phasing plan shall clearly
demonstrate that each phase can be workable, functional and efficient without relying
upon completion of future project phases.
The proposed phasing plan appears acceptable, however, a specific construction staging plan,
pedestrian protection plan, and temporary landscaping plan will be required for each phase of
the project.
Town of Avon Community Development (970) 74a-4030 Fax (970) 949-5749
Lot B, Avon Center at Beaver Creek Subdivision PUD Final Development Plan
August 20, 2002 Planning & Zoning Commission meeting Page 5 of 6
10. Adequacy of public services such as sewer, water, schools, transportation systems,
roads, parks, and police and fire protection.
Adequate public services appear to exist to service this development from the original PUD
approval and Development Agreement.
11. That the existing streets and roads are suitable and adequate to carry anticipated
traffic within the proposed PUD and in the vicinity of the proposed PUD.
The existing streets and roads are suitable to carry the anticipated traffic within the proposed
PUD. The shared access easement with Lot C should provide adequate access to the project
and to the proposed parking structure, however, garage slab elevations and finished floor
elevations will require further clarification to correspond to Lot C.
12. Development Standards
Development Standards including lot area, site dimensions, setbacks, height, density control,.
site coverage, landscaping and parking shall be determined by the Town Council as part of
the approved development plan with consideration of the recommendation of the Planning
Commission. Proposed development standards are attached to this staff report.
Staff Discussion
Building A and B have been modified on the plan to accommodate the preferred pedestrian mall
alternative as outlined in the Town Center Plan. Additionally, parking has been clarified and the
original formulas for parking remain consistent with this proposal. Access requirements for the
surface parking lot along with compact space requirements may reduce the parking supply, and
will require further review prior to Council action. The provision of 6 employee dwelling units
is being offered by the developer as deed-restricted, which is supported by the Town
Comprehensive Plan. The potential exists for future commercial area for this project, which is
supported by the Town Center Plan, however, adequate parking must be demonstrated with any
increases in commercial density.
Staff Recommendation
Approve Resolution 02-11, recommending to the Town Council approval of the Lot B PUD
Development Plan for Lot B, Avon Center at Beaver Creek Subdivision, Block 2, Benchmark at
Beaver Creek Subdivision, Town of Avon, Eagle County, Colorado with the following
conditions:
1. Remove all surface compact spaces from the site plan. Only standard size
(9'0"x18'0") parking spaces are permitted for surface parking. Total compact spaces
cannot exceed 30% of the total parking spaces in the garage.
2. Delete the proposed emergency access, and reconfigure the surface parking area to
accommodate a full one-way turning movement of the Ladder Truck (w/ 252" W.B.).
This revision must be submitted by a Professional Engineer to verify the turning
analysis.
3. The finished floor elevation of Buildings A and B must match the finished floor
elevations of the Seasons building and be verified by a Colorado licensed surveyor.
4. All parking aisles will be a minimum of 24'0" in width. Minimum clear ceiling
height on the parking structure entrance will be 7'6".
Town of Avon Community Development (970) 748-4030 Fax (970) 949-5749
Lot B, Avon Center at Beaver C,,~ek Subdivision PUD Final Development Plan
August 20, 2002 Planning & Zoning Commission meeting Page 6 of 6
5. Landscaping will be provided at a 20% minimum that meets the Town standards for
landscaping area.
6. Both perimeter and internal sidewalks must have a minimum width of 8'0".
7. Garage spot elevations do not match the proposed grades, and require revision on the
site plan.
8. A construction-staging plan is required to address each phase of the project, including
temporary landscaping.
9. A note shall be added along with a dimensioned `envelope' to the site plan that
indicates the future knockout area between Lot B and Lot C parking garages.
10. Architectural and design plans will be separately submitted and reviewed, and must
comply with the existing Town of Avon Residential, Commercial, and Industrial
Guidelines.
11. The PUD plan `Parking Requirements' table shall be amended to include the
minimum parking provision of 214 parking spaces for Lot A.
12. In the event that the parking standards set forth herein are not satisfied at any phase of
the project (including the minimum provision for Lot A), then accommodation units
will be reduced to satisfy the parking requirement.
13. All underground parking must be completed in Phase 1 as proposed.
14. Revised development plan addressing all of the above conditions must be provided
one week prior to first reading of PUD Ordinance by Town Council. .
15. Except as otherwise modified by this permit approval, all material representations
made by the applicant or applicant representative(s) in this application and in public
hearing(s) shall be adhered to and considered binding conditions of approval.
If you have any questions regarding this project or any planning matter, please call me at 748-
4030, or stop by the Community Development Department.
Respectfully submitted,
Tambi Katieb, AICP
Town of Avon Community Development (970) 748-4030 Fax (970) 949-5749
I
IMNEW
AV ON
C O L O R A D O
August 21, 2002
Patrick Nook
PWN Architects and. Planners, Inc.
9250 E. Costilla Ave. Suite 440
Greenwood Village, CO 80112
RE: LOT B, AVON CENTER AT BEAVER CREEK SUBDIVISION
PUD FINAL DEVELOPMENT PLAN
Dear Pat:
On August 20, 2002 the Town of Avon Planning and Zoning Commission recommended
approval to Town Council of your application for the Lot B PUD Development Plan, Avon
Center at Beaver Creek Subdivision, with the following conditions:
1.
Remove all surface compact spaces from the site plan. Only standard size
'
(9'.0"x18'0") parking spaces are permitted for surface parking. Total compact spaces
cannot exceed 30% of the total parking spaces in the garage.
2.
Delete, the proposed emergency access, and reconfigure the surface parking area to
accommodate a full one-way turning movement of the Ladder Truck (w/ 252" W.B.).
This revision must be submitted by a Professional Engineer to verify the tuming
analysis.
3.
The finished floor elevation of Buildings A and B must match the finished floor
elevations of the Seasons building and be verified by a Colorado licensed surveyor.
4.
All parking aisles will be. a minimum of 24'0" in width. Minimum clear ceiling
height on the parking structure entrance will be 7'6".
5.
Landscaping will be provided at a 20% minimum that meets the Town standards for
landscaping area.
6.
Both perimeter and internal sidewalks must have a minimum width of 8'0".
7.
Garage spot elevations do not match the proposed grades, and require revision on the
`
site plan
:
8.
A construction-staging plan is required to address each phase of the project, including
temporary landscaping.
9.
A note shall be added along with a dimensioned `envelope' to the site plan that
indicates the future knockout area between Lot B and Lot C parking garages.
s 10.
Architectural and design plans will be separately submitted and reviewed, and must
comply with the existing Town of Avon Residential, Commercial, and Industrial
Guidelines.
i 11.
The PUD plan `Parking Requirements' table shall be amended to include the
minimum parking provision of 214 parking spaces for Lot A.
12.
In the event that the parking standards set forth herein are not satisfied at any phase
Post Office Box 975
of the project (including the minimum provision for Lot A), then accommodation
400 Benchmark Road
units will be reduced to satisfy the parking requirement.
Avon, Colorado 81620 13.
All underground parking must be completed in Phase 1 as proposed.
970-748-4000
970-949-9139'Fax
970-845-7708 TTY
TOWN OF AVON
PLANNING & ZONING COMMISSION
RESOLUTION NO. 02-11
SERIES OF 2002
A RESOLUTION RECOMMENDING TO THE TOWN COUNCIL OF THE TOWN OF
AVON APPROVAL OF A PUD DEVELOPMENT PLAN FOR THE LOT B PUD, AVON
CENTER AT BEAVER CREEK SUBDIVISION, BLOCK 2, BENCHMARK AT
BEAVER CREEK SUBDIVISION, TOWN OF AVON, EAGLE COUNTY, COLORADO
WHEREAS, Suites at Avon LLC, has applied for a PUD development plan for Lot B, Avon
Center at Beaver Creek Subdivision, to adopt an overall site development plan, establish
development standards and general building footprints; and
WHEREAS, after notices required by law, a public hearing on said application was held by
the Planning & Zoning Commission of the Town of Avon; and
WHEREAS, said application is consistent with all legal requirements.
NOW, THEREFORE, BE IT RESOLVED that the Planning and Zoning Commission hereby
recommends to the Town Council of the Town of Avon approval of the application for the
PUD Development Plan for Lot B, Avon Center at Beaver Creek Subdivision, Block 2,
Benchmark at Beaver Creek Subdivision, Town of Avon, Eagle County, Colorado with
the following conditions:
1. Remove all surface compact spaces from the site plan. Only standard size
(9'0"x18'0") parking spaces are permitted for surface parking. Total compact spaces
cannot exceed 30% of the total parking spaces in the garage.
2. Delete the proposed emergency access, and reconfigure the surface parking area to
accommodate a full one-way turning movement of the Ladder Truck (w/ 252" W.B.).
This revision must be submitted by a Professional Engineer to verify the turning
analysis.
3. The finished floor elevation of Buildings A and B must match the finished floor
elevations of the Seasons building and be verified by a Colorado licensed surveyor.
4. All parking aisles will be a minimum of 24'0" in width. Minimum clear ceiling
height on the parking structure entrance will be 7'6".
5. Landscaping will be provided at a 20% minimum that meets the Town standards for
landscaping area.
6. Both perimeter and internal sidewalks must have a minimum width of 8'0".
7. Garage spot elevations do not match the proposed grades, and require revision on the
site .plan.
8. A construction-staging plan is required to address each phase of the project, including
temporary landscaping.
9. A note shall be added along with a dimensioned `envelope' to the site plan that
indicates the future knockout area between Lot B and Lot C parking garages.
10. Architectural and design plans will be separately submitted and reviewed, and must
comply with the existing Town of Avon Residential, Commercial, and Industrial
Guidelines.
11. The PUD plan `Parking Requirements' table shall be amended to include the
minimum parking provision of 214 parking spaces for Lot A.
12. In the event that the parking standards set forth herein are not satisfied at any phase of
the project (including the minimum provision for Lot A), then accommodation units
will be reduced to satisfy the parking requirement.
13. All underground parking must be completed in Phase 1 as proposed.
14. Revised development plan addressing all of the above conditions must be provided
one week prior to first reading of PUD Ordinance by Town Council.
15. Except as otherwise modified by this permit approval, all material representations
made by the applicant or applicant representative(s) in this application and in public
hearing(s) shall be adhered to and considered binding conditions of approval.
ADOPTED THIS 20th DAY OF AUGUST, 2002
*Signd&
Date: O t Z' U(C-L
Chris Evans, Chairman
Attest:
Date: to
Michael McClinton, Secretary
14. Revised development plan addressing all of the above conditions must be provided
one week prior to first reading of PUD Ordinance by Town Council.
15. Except as otherwise modified by this permit approval, all material representations
made by the applicant or applicant representative(s) in this application and in public
hearing(s) shall be adhered to and considered binding conditions of approval.
I have attached a signed copy of Resolution 02-11, recommending this approval to Town Council.
The first Town Council hearing is scheduled for Tuesday, August 27, 2002. Please submit a
revised development plan no later than Thursday, August 21, 2002 to be included in the Council
packet.
If we may be of further assistance, please do not hesitate to call us at 970.748.4030.
Kind Regards,
Tambi Katieb, AICP
cc: Stuart Borne, Avon Commercial Center Ltd.
File
[:]SfUP1R0
DE\'EL0PVE\ T C 0 M P A Y
August 28, 2002
The Honorable Judy Yoder
Mayor, Town of Avon
400 Benchmark Rd.
Avon, Co. 81620
Re: Economic Impact on Town Tax Base of Revised Lot B Plan
Dear Mrs. Yoder,
You asked at the meeting for first reading of the Lot B Development Plan to have
some presentation of the impact to the tax base by allowing the second floor space in
Building A to residential not commercial. To properly evaluate the impact, it is
imperative to both understand what the value of second floor commercial and the likely
Assessed value of the residential. Recently we commissioned an appraisal of our
companies holding in the Avon Center to obtain a refinance: As we were trying to
refinance our goal was to value the property as high as possible to increase our loan
amount. The appraiser included a survey of the Avon commercial market, which is
illustrative of the values for commercial in Avon. To prepare this valuation I have used
the conclusions of the appraiser to determine the valuation of the second floor
commercial and the average price per square foot per the economic model that price list
of the residential units were derived from (as the assessor will use the sales prices to
value the residential property). I have included the data from the appraisal for back up
and because the material inside made provide useful to the town in other situations.
If you look at the spreadsheet at the Market Rent for second floor commercial on
page on page 11 I have used the market rents projected by the appraiser for office that
will apply 2 years from now ($20.09) as the project will take this long to complete. I have
also used the vacancy discount suggested by the appraiser on page 15 to discount the cash
flow. I have also used the capitalization rate adopted by the appraiser on page 17 to
determine the value of the Building A second floor space as commercial. After applying
the methodology that the appraiser adopted the value for ad valorum tax purposes does
not significantly deviate from each other and the Town will generate similar revenue with
both uses.
In addition I have been unable to find any second story commercial use currently
in the Town that collects sales tax and as the Town will benefit from Bed Tax revenue
from the Condo-tel units, the deviation from ad valorum taxes would seem to be de
minimus.
If you have any questions please do not hesitate to call.
Thank you,
Stuart Borne
100 W. Beaver Creek Blvd. Post Office Box 5640 TEL (970) 949-7980
Avon Center, Suite 220 Avon,Colorado 81620 FAX (970) 949-7984
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SUMMARY APPRAISAL OF
13 Commercial Condominiums within Avon Center
100 West Beaver Creek Boulevard
Avon, Colorado
RETECHS File #CCV 02-484 DEN
June 1, 2002
PREPARED FOR.-
U.S. Bank
RETECHS Department
918 17'" Street, 4'" Floor
Denver, Colorado 80202
PREPARED BY:
Intermountain Consultants, Inc.
2942 Evergreen Parkway, Suite 300
Evergreen, Colorado 80439
303.674.6587
13 Avon Center Commercial Condominiums
INCOME CAPITALIZATION APPROACH
The Income Capitalization Approach provides a value indication for the subject property by projecting a net
income stream through the use of comparable income and expense information which is generated from the
marketplace. doethe Discounted Cash Flow Analysis techniqueate by either or both the Direct Capitalization
technique an
CONTRACT RENT
The subject is presently 83.5% leased with the tenants responsible for all expenses with the exception of those
associated with vacancy carry, reserves for replacement, and management not associated with common area
maintenance. The leases are summarized as follows:
Summary of Leases
Rppnt- Ex in- Re- Annual
l~nlt I aQla Lesse ion mflning R I Tsnant Expenses Rent Options
o Tenant ssFF Period bate erm Pt Escalations pe
Premium Retail Spats cs
6 reps $25.07 CPI , en18 mgml not fssoc w/GAtiI None 1 y at mkt
115 Avon liquo► 4•~ F mos 12102
Average Retail Space
~r 18 mos 528.35 CPI AU except reserves for replace None None
110 H npg Sktn 327 36 mos 12103 ment 8 99rA9 not Assoc w/GGAAMM
1 mo $24.36 CPI A' etx~et reserves for replaCCB@-- None Vi 1524C$g
1
127 Brass Parrot 1,367 24 mos 7102 I mant tt ~ngmt not ascot 0&& Yrs 2-3:
Perimeter Office Space
Yrs 1-7: CPI None
ervtesascot for reela~ 2 3--.,r at CPI
Yr •1: Euuuat to Alt except resmtno
L 6 mg w/GAM
222 MeM 1.999 60 mos 1107 55 tnos $10.85 I Vi ~ 2181rent mans
CFF Ail xcept reserves for reelG8G~- None 2 3-yr at CPI
517.01 I CPI meet 8 mgmt not Assoc w/AM
220 a Mah n 714 80 mos 1107 55 mos e
11 mgmt AO excsept reserves for reel~tc~e. None 6 3 yr at CPI
A- o/ 2.909 36 mos 1104 19 mos $11.49 CPI meet S pt re not asr oe wICAM
200 Nova.lad
AN except reserves for reel8t~- None None
1/atl 1,473 36 mos I 10103 16 mos $19.26 ` CPI meet 8 mgmt not ascot w/AM
208 Bookkeeping _
10 mos :16.80 I CPI All exceplgres for replace- None None
nt 66 m mt eat ascot wIGGAAMM
230 starwo n 1,250 24 mos 4103 me no a
Vacations
=e, rWA WA I WA WA NIA NO,
Masthead
'`1e0/ Development 1.383 fWA ed
Interior Office Space
All except reserves for replace- None ~ Yr t a7.;~~~
218 Brass Parrot 4111 24 mos 7102 1 mo $24.36 I ~Pl menl 3 mgmt not assoc w/GAM i Yes 3_3__
All extepl reserves for repl None None
WA $11.77 I WA ment 6 mgmt not Assoc w1GAM -
Moto- Mo-to-
219 Sheri Pinion 511 mo mn
Total 16.434 square feet
option exercised
8
Intermountain Consultants. Inc.
13 Avon Center Commercial Condominiums
/ Rents within the subject units range from $24.36 to $28.35 per square foot for the main level retail space and
from $10.85 to $24.36 per square foot for the upper level office space. The estimated pass-through for 2002,
which includes utilities, structural and common area maintenance, janitorial, and insurance, equates to $13.30
per square foot for the retail units and $13.84 per square foot for the office space. The retail pass-through
excludes electricity for heat which is paid directly by the tenants. The rents also include unassigned garage
parking. The majority of the lease periods are from three to five years and most have options extending from
three to twelve years which are based on increases in the Consumer Price Index (CPI), fixed amounts, or
market rent at that time.
MARKET RENT
In order to estimate the potential income of the subject, the rental data of several retail/office facilities in the
area was analyzed with the following projects selected because of their similarities and proximities to the
subject.
Rental Comparables
Annual Annual
Si Rent Lease Tenant
No Name / Location Age S
F PSF Term donsa. , Expenses
Retail
1.
Benchmark Plaza
48 E Beaver Creek Blvd
A
1982
440
3
150
$21.00
5 yrs
t:PI
All except reserves for
replacement & mggmt
von, Colorado
.
not assoc w/CAM
2.
Avon Plaza
150 E Beaver Creek Blvd
1997
959
$22.00
5 yrs
CPI
All except reserves for
replacement & m
mt
Avon, Colorado
gg
not assoc w/CAM
3.
Benchmark Center
82 E Beaver Creek Blvd
1975
600-
$19.00
3-5
rs
CPI
All except reserves for
r
l
Avon, Colorado
2.000
$23.00
y
ep
acement & mggmt
not assoc w/CAM
4.
The Annex
142 E Beaver Creek Blvd
Avon. Colorado
1989
800-
3.200
$23.00-
$27.00
3-5 yrs
CPI
Al! except reserves for
replacement &mg mt
not assoc w/CAM
office
1.
B
48 enchmark Plaza
Beaver
Creek Blvd
1982
440-
$18.00-
3
rs
CPI
All except reserves for
re
l
Av
Avon,
Colorado
1,000
$19.00
y
I
p
acement
mgmt
&
not assoc
w
/CAM
2.
Avon Plaza
150 E Beaver Creek Blvd
1997
400-
$18.00-
I
3-5
rs cr'l
All except reserves for
re
l
Avon. Colorado
1,000
I $20.70
y
p
acement & mggmt
not assoc w/CAM
3.
Benchmark Center
E Beaver Creek ado Blvd
182 A
Avon
Colorado
1975
600-
2,000
515.00-
$18.00
'
3-5,,T.; I CPI I
All exccot reserves for
replacement & myymt
, ,
{
i
not assoc w/CAM
5.
WestStar Bank Building
15 W Benchmark Rd
1995
1,000-
$"1.00-
AI! except reserves for
Avon, Colorado
3.150
$22.00
3-5 yrs I CPI
replacement & mgmt
not assoc w/CAM
6
Alpine Bank Buildin
-
All except reserves for
10 W Seaver Creek
Blvd
Avon
Colorado
1994
3,000
$22.00 I
5 yrs
CPI
replacement & mggmt
.
not assoc WCAM
Intermountain Consultants, Inc.
13 Avon Center Commercial Condominiums
The comparables reflect a range of rents prior to adjustments from $19.00 to $27.00 per square foot for the
main level retail space and from $15.00 to $22.00 per square foot for the second level office space. The
variations in the rates are a reflection of the differences in the amount and quality of the space leased, age/
condition, building location, rating of the tenant, tenant finish, perimeter or interior location, and expense
responsibility of the tenant. Adjustments have also been made for the availability of garage parking for the
office users, but not forthe retail patrons since our interviews indicated that these users prefersurface parking.
The majority of the leases are forthree- to five-year terms, many with additional five-year options. Escalations
are typical and are based on increases in the Consumer Price Index (CPI). All of the leases are on a triple
net basis where the tenants pay for their pro rata share of utilities, common area maintenance, insurance,
real estate taxes, janitorial, structural maintenance, and management costs associated with common area
maintenance. Furthermore, all of the lessees were responsible for the majority of the tenant improvements
with the spaces leased "as is."
All of the comparables are located in the Town of Avon and within a block of the subject. Nos. 5 and 6 are
superior in quality, whereas No. 3, Benchmark Center, is an older facility offering inferior quality space. Nos.
2, 3, and 5 lack garage parking for the office users. The rental adjustments are summarized as follows:
Summary of Rental Adjustments
I Actual I Lora- I I Age/ I Ex. I Unit I Tenant I Garage I Total I Ad Rent
No Rent PSF Lion Quality Condition penes Location Finish Parking Adj PS~ (md)
Premium Retail Space
1.
$21.00
Equal
Equal
Equal
Equal
Equal
Equal
Equal
0.0%
$21.00
2.
$22.00
+10.0%
Equal
Equal
Equal
Equal
. Equal
Equal
+10.0%
$24.20
3.
519.00423.00
Equal
+5.0%
+5.0%
Equal
Equal
Equal
Equal
+1
$20.90-$25.30
4.
523.00427.00
Equal
Equal
Equal
Equal
Equal
Equal
Equal
0.0% $23.00-$27.00
Average Retail Space
1.
$21.00
Equal
Equal
Equal
Equal
-5.0%
Equal
Equal
-5.0%
$19.95
2.
$22.00
+10.0%
Equal
Equal
Equal
-5.0%
Equal
Equal
+ 5.0%
1 $23.10
3.
$19.00-$23.00
Equal
+5.0%
+5.0%
Equal
-5.0%
Equal
Equal
+5.0% $19.95-$24.15
4.
$23.00-$27.00
Equal
Equal
Equal
Equal
-5.0%
Equal
Equal
-5.0% $21.85-$25.65
Perimeter Office Space
1. $18.00-519.00 Equal
Equal
Equal
Equal
Equal
Equal
. Equal
0.0%
$18.00-519.00
2. $18.00-$20.00 Equal
Equal
Equal
Equal
Equal
Equal
+2.5%
+2.5%
$18.45-S20.50
3. $15.00-$18.00 Equal 1
+5.0%
+.5.0%
Equal
Equal
Equal
+2.5%
+12.5%
$16.90-$20.25
5. I $21.00-$22.00 I Equal
-5.o%
Equal
Equal
Equal
Equal
+2.5.%
- 2.5%
$20.50-$21.45
7_ 522.00 i Equal
-10.0%
Equal
Equal
Equa! Equal
. Equal
-10.0%
$19.80
Interior Office Space
1.
$18.00-$19.00
Equal
Equal Equal
Equal
-20.0%
Equal Equal
-20.0%
$14 40415.20
2.
$14.00420.00
Equal
Equal Equal
Eaual
-20.0%
Equal
+2.5%
-17.5%
$14.85.516.50
3.
$15.00-518.00
Equal
+5.0%
+5.0%
Equal
-20.0%
Equal
+2.5%-
-7.5%
513.90416.65
5.
521.00-$22.00
Equal
- 5.0%
Equal
Equal
-20.0%
Equal
+2.5%
.22.5%
$16.30.517.05
6.
$22.00
Equal
-10.0%
Equal
Equal
-20.0%
Equal
Equal
-30.0%
$15.40
Intermountain Consultants. Inc.
10
13 Avon Center Commercial Condominiums
Based on the preceding discussion and after accounting for similarities and differences between the subject
and the comparables, it is our opinion that the market rent for the high exposure retail space of the subject
would most likely fall between $21.00 and $27.00 per square foot at an overall average of $25.00 per square
foot, while the low exposure retail space is estimated to range between $20.00 and $24.00 per square foot
at an overall average of $22.00 per square foot. The rent for the perimeter office space of the subject is
estimated between $18.00 and $21.00 per square foot with a $19.50 per square foot average, while the interior
office space is anticipated to range from $14.00 to $17.00 per square foot at an overall average of $15.50
per square foot. The estimated rents are based on five-year lease terms with the tenants responsible for all
expenses with the exception of those associated with vacancy carry, reserves for replacement, and manage-
ment not associated with common area maintenance. As indicated by the comparables, escalations are the
norm at the present time and it is our opinion that a 3.0% increase in rent is representative of the current
market. Our projections of market rent for the ten-year holding periods are as follows:
Projected Market Rents
Retail
Office
Year
Premium
Space
Average
Space
Perimeter
Space
Interior
Space
1
$25.00
$22.00
$19.50
515.50
2
$25.75
$22.66
$20.09
$15.97
3
$26.52
$23.34
$20.69
$16.44
4
$27.32
$24.04
$21.31
$16.94
5
$28. i4
324.76
$21.95
$17.45
6
$28.98
325.50
$22.61
$17.97
7
$29.85
$26.27
$23.28
$18.51
8
$30.75
$27.06
$23.98
$19.06
9
$31.67
$27.87
$24.70
$19.63
10
$32.62
$28.71
$25.44
$20.22
Intermountain Consultants. Inc. 11
13 Avon Center Commercial Condominiums
VACANCY AND COLLECTION ALLOWANCE
In projecting a stabilized vacancy and collection allowance for the subject units, several factors that are
significant with regard to the facility have been analyzed including the location and exposure of the property
in a desirable commercial area within the Town of Avon, the quality and design of the facility which is
competitive with other centers and appealing to prospective tenants, the existing available inventory as well
as projects that are planned to be developed in the near future, and the current 83.5% occupancy of the
subject.
In order to arrive at a stabilized vacancy rate, 20 commercial facilities in the Avon/Edwards area containing
a combined 538,105 square feet of space were surveyed with an overall vacancy level of 11.7% indicated.
Based on the performance of the subject, which is currently 83.5% leased, as well as on the occupancy levels
in similar and competing buildings, it is our opinion that a long-term vacancy and collection allowance of 7.0%
can be anticipated.
REAL ESTATE TAXES AND ASSESSMENTS
Assessed values in Eagle County are based upon 29% of the county asses'sor's estimated market value as
of 2001. The 2001 taxes, which were due in April of 2002, are calculated by multiplying the assessment by
the appropriate mill levy. The subject, identified as schedule numbers 45141, 45144, 45148-45156, 45158,
45958, and 46110, included a 2001 actual value of $4,498,760 and 3 2001 assessed value of $1,304,650.
The 2001 mill levy is $59.741 per $1,000 of assessed valuation with the taxes calculated at $77,941
($1,304,650 + $1,000 x $59.741). According to the treasurer's office, the taxes have been paid and no back
taxes are due. Furthermore, the subject is not in a special improvement district.
EXPENSES
In the Income Capitalization Approach, it is necessary to estimate the expenses of the property which are
applicable to the effective gross income. Annual operating expenses from similar buildings as well as the
actual reported expenses for the subject for 2000 and 2001 have been reviewed in order to estimate the
operating expenses for the retail/office condominiums. The actual expenses incurred by the subject are
summarized on the following page.
Intermountain Consultants. Inc. 12
13 Avon Center Commercial Condominiums
Summary of Actual Expenses
as Reported by Management
2000
2001
Description
Actual PSF
Actual PSF
Reimbursable Expenses
Management
5 .89
S .97
Association Fees
$ 7.98
$ 8.49
Real Estate Taxes
3.76
3.72
Total
$12.63
$13.18
Non-Reimbursable Expenses
Administrative/Miscellaneous
$ .71
$ 1.06
Reserves for Replacement
$ .29
$ .00
Total
$ 1.00
$ 1.06
Combined Total
1 $13.63
$14.24
In reviewing the preceding expenses, it should be noted that the first floor units are individually metered with
the tenants paying directly for heat and electricity. The upper level office units are not separately metered
with the tenants paying their pro rata share to the landlord. That cost, which is not included in the preceding
figures, equated to $7,512 in 2000 and $6,518 in 2001. The condominium association fees encompass, those
costs associated with maintaining the entire project and include insurance, landscaping, snow and trash
removal, structural maintenance, security, common area utilities, and maintenance. The preceding figures
do not include administrative costs associated with common area maintenance and reserves for replacement.
In additior, to examining the expenses incurred by the subject, the actual expense pass-throughs of comparable
properties in the subject's marketplace have also been analyzed. The expenses range from $6.00 to $10.00
per square foot and encompass repairs and maintenance, landscaping, insurance, common utilities and
janitorial, trash and snow removal, and structural maintenance. Based on our analysis. the following stabilized
expenses are beiieved to be representative of the subject:
Summary of Stabilized Expenses
Item Amount
Operating Expenses
Real Estate Taxes 19,679 sf ® $3.96 psf = $ 77,900
Common Area Maintenance 19:679 sf @ $9.35 psf = $164.000
Management/Administration 19,679 sf @ $ .25 psf = $ 4,900
Reserves for Replacement 19,679 st ® $ .20 psf = $ 3,900
Total Expenses ($13.76 per square foot) $270.700
Tenant Expense Reimbursement
Real Estate Taxes 19.679 sf ® $3.96 psf = $ 77,900
Common Area Maintenance 19,679 sf @ $9.35 psf = $184,000
Total ($13.31 per square foot) $261,900
Less: Vacancy and Collection Allowance - 7.0% ($18,333)
1
Tenant Expense Reimbursement J$243,567
Net Expenses ($1.38 per square foot) $ 27,133
Intermountain Consultants. Inc. 13
CAPITALIZATION
13 Avon Center Commercial Condominiums
The next step in the Income Capitalization Approach is the selection of the most applicable method of
capitalization to apply to the net operating income. The two most commonly utilized methods are the
Discounted Cash Flow Analysis technique and the Direct Capitalization technique.
Discounted Cash Flow Analysis
In order to arrive at an estimate of value, a ten-year cash flow projection was developed incorporating the
loss or gain in income attributed to a number of factors including market and contract rents, expenses,
occupancy/absorption, tenant improvement expenses, and leasing commissions. The projected cash flow
as well as the anticipated reversion at the end of the tenth year are both discounted to a present value by an
appropriate discount rate which is commensurate with the risk of an investment of this type. The reversion
is based. on capitalizing the eleventh year income stream and deducting from that figure the estimated
expenses of the sale. In developing the cash flow projection, the following assumptions were made:
Rental Income
The contract rents are escalated according to the provisions within the leases. The only leases with
favorable options below market rent at that time Avon Liquor, Brass Parrot, McMahan & Associates,
and Armstrong/Novastad - were assumed to be exercised. Once the leases expire and the favorable
options have been exercised, market rent is then applied for the duration of the holding period. The
potential market rent for the premium main level retail space of the subject is estimated at $25.00 per
square foot and $22.00 per square foot for the average retail spaces. The rents for the second level
office space are estimated at $19.50 per square foot for the perimeter units and $15.50 per square
foot for the interior spaces. The rents, which are based on five-year lease terms, are prcjected to
increase 3.0% annually for the duration of the holding period. The rents for Sheri Pinion, the month-to-
month tenant, as well as the owner are applied at market levels.
Expenses
The expenses are based on provisions within the leases. The tenants are responsible for all expenses
with the exception of reserves for replacement, vacancy carry, and management not associated with
common area maintenance. The expenses are anticipated to increase 3.0% annually over the holding
period.
Occupancy/Absorption
Based on our survey of the subject marketplace, a 7.0% long-term vacancy and collection allowance
is deemed appropriate for the subject. The property is 83.5% leased at the present time and has
achieved stabilization.
Tenant Improvement Expenses
The tenants are responsible Tor all tenant improvements which is consistent with he subject
marketplace.
Leasing Commissions
Commissions of 7.0% are anticipated for the unleased space based on five-year lease terms. It is
an assumption that commissions of 7.0% of the gross income will be paid on approximately 50% of
the occupied space over the holding period. This accounts for rollovers as well as in-house leasing.
14
Intermountain Consultants. Inc.
13 Avon Center Commercial Condominiums
Reversion
The potential sale price ten years hence is estimated by capitalizing the eleventh year net income
from the prepared projection. The applied overall rate of return of 10.00% is well supported by the
range of overall rates indicated by the improved sales in the Avon/Edwards/Vail marketplace.
Generally, the terminal capitalization rate is slightly higher than the capitalization rates indicated by
the current market due to the associated risks perceived ten years out. The projected expenses of
the sale are estimated at 4.0% of the anticipated sale price which are then deducted. The reversion
is calculated as follows:
Reversion Calculation
Item I
Amount
11 th Year Net Income
$436,755 capitalized @ 10.00% =
$4,367,550
-
Less: 4.0% Sales Expense I
174,702)
Indicated Reversion (md)
54,195,000
Discount Rate
The estimated cash flows and reversion will not be obtained until the applicable future period. In
arriving at a value for these future benefits, it is necessary to discount them to present value. Present
value is defined as 'today's cash lump sum which represents. the current value of the right to collect
future payments. o3 A discount rate of 12.00% has been applied in this projection which is considered
consistentwith investment expectations and reflects current investoryield requirements for properties
of this type in resort communities.
3 Real Estate Appraisal Terminology, the American Institute of Real Estate Appraisers and the Society of Real Estate Appraisers. 1984
15
Intermountoin Consultants. Inc.
13 Avon Center Commercial Condominiums
Employing the preceding assumptions to the prepared cash flow projection, it is our opinion that the market
value of the subject by use of the Discounted Cash Flow Analysis technique would be fairly represented at
$3,270,000.
16
Intermountain Consultants. Inc.
13 Avon Center Commeraal wl
Direct Capitalization
In orderto arrive at an appropriate overall rate, we have relied on transactions of commercial properties located
in the subject marketplace. These sales have been analyzed in such a manner that an overall capitalization
rate has been developed. In each case, the gross income and expenses are taken in accordance with
information confirmed by the buyer, seller, or real estate broker involved in the sale. The rate is influenced
by the type and age of the property, its location, the type of tenancy, and the income/expense ratio. The
improved sales are summarized as follows:
Summary of Improved Sales
Unit
Sale
Overall
Size
Sale
Price
Rate of
No
Name I Location
Yoc
SF
Date
Sale Price
PSF
Return
Grantor I Grantee
1.
491e•vail Commercial SC
1975
Southwestern LLC
40814 US 6 8 24
Rmdld
13,875
1101
$2.330,000
$167.93
9.30%
Eagle-Vail Business
Eagle-Vail, Colorado
1997
Center LLC
2.
Eagle-Vail Exchange
40690
1997
472
3
000
5
49
$168
9
10%
Smallwood
e LLC/
h
n
E
US 6 & 24, Unit E
Ea
l
V
il
C
,
9101
.
$ 58
.
.
xc
g
a
ineerin
R
En
d
g
e-
,
a
olorado
g
a
g
er
3
Industrial Center
41
Southwestern
LLC/
a
310 US 6
1976
36.750
4101
$4.900.000
$133.33
9.91%
ty LLC
Jaymark Realty
Eagle-Vail, Colorado
4.
Avon Center Condos #1291130/135
1976
Avon Commercial
100 W Beaver Creek Blvd
Rmdld
4.201
10199
$ 966.230
$23040
9.10%
Center/
Avon, Colorado
1990s
BMW LLC
5.
Benchmark Shopping Center
Mountain
82 E Beaver Creek Blvd
1974
23.000
6101
$3,725,000
$161.96
I 9.50%
Owners LP/
Avon, Colorado
Stodmat Properties
The overall rates indicated by the sales range from 9.10% to 9.91%, with all of the commercial properties
stabilized at the time of sale. Based on the sales activity while also recognizing the risks associated with
facilities such as Avon Center, an overall rate of 9.50% is believed to be representative of the subject. This
rate is applied to the first year net operating income of the subject, before leasing commissions and retrofit
as shown on the Discounted Cash Flow Analysis on Page 16, as follows:
$SMMW Net Operating Income capitalized @ 9.50% = OSVIMMIW
Rounded to -toomw
Recapitulation
T'. -e two techniques reflect a tight range of value from $3,270,000 to $3,355,000. Most weight wds applied
to the Discounters Cash Flow Analysis technique which accounts for the variable income stream the .:operty
will incur over the next ten years.
ESTIMATE OF MARKET VALUE BY THE INCOME CAPITALIZATION APPROACH
lip
Intermountain Consultants. Inc. 17
"r
Memo
To. Honorable Mayor and Town Council
Thru: Bill-Efting, Town Manager
From: Ruth Borne, Director of Community Development
Date August 22, 2002
Re: First Reading of Ordinance 02-19, An Ordinance Amending the Chapel
Square PUD for Lots 22, 22A, 22B, Tract A, B-1, B-2, Block 2, Benchmark at
Beaver Creek Subdivision
Summary
The applicant, LB Chapel Square LLC, has submitted a PUD amendment to amend the
Chapel Square PUD to remove 'Note 16' and replace it with the note as outlined in the
Ordinance, and to remove the 'Chapel' designation from the zoning documents to allow for
the construction of a loading dock to serve Building C.
The Planning and Zoning Commission recommended approval of this PUD Amendment on
August 20, 2002 with five conditions as attached on Resolution 02-10, including the
assessment of fines. Staff is recommending four conditions as outlined in Ordinance 02-19,
and not recommending fines unless a new facade is not constructed in a timely manner.
Recommendation
Staff recommends that the Town Council pass Ordinance 02-19, amending the Chapel
Square PUD as recommended in the conditions.
Alternatives
1. Approve on First Reading
2. Deny on First Reading
Proposed Motion
"I move to approve on first reading Ordinance 02-19, approving an Amendment to the
Chapel Square PUD for Lots 22, 22A, 22B, and Tracts A, B-1, B-2, Block 2, Benchmark at
Beaver Creek Subdivision, Town of Avon, Eagle County, Colorado. "
Town Manager Comments
Attachments:
A. Ordinance 02-19
Memo to Town Council, August 21, 2002 Page 1 of 2
Ordinance 02-19, Chapel Square PUD, Lots 22, 22A, 22B, Tracts A, B-1, B-2, Block 2, Benchmark at Beaver Creek PUD
Amendment
B. Planning and Zoning Commission Staff Report
C. Planning and Zoning Commission Resolution 02-10
Memo to Town Council, August 21, 2002 Page 2 of 2
Ordinance 02-19, Chapel Square PUD, Lots 22, 22A, 22B, Tracts A, B-1, B-2, Block 2, Benchmark at Beaver Creek PUD
Amendment
TOWN OF AVON
ORDINANCE NO. 02-19
SERIES OF 2002
AN ORDINANCE APPROVING AN AMENDMENT OF THE
CHAPEL SQUARE PLANNED UNIT DEVELOPMENT (PUD)
FOR LOTS 22, 22A, 22B, TRACTS A. B-19 B-2, BLOCK 2,
BENCHMARK AT BEAVER CREEK SUBDIVISION, TOWN
OF AVON, EAGLE COUNTY, COLORADO.
WHEREAS, LB Chapel Square LLC has applied for an Amendment to the Chapel
Square PUD to remove `Note 16' and replace it with the note as outlined in the conditions below,
and to remove the `Chapel' designation from the zoning documents and propose a loading dock
to. service Building C; 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 on August 20, 2002, 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 PUD Amendment; and
WHEREAS, following such public hearing, the Planning & Zoning Commission
forwarded its recommendations on the proposed PUD Amendment to the Town Council of the
Town of Avon; and
WHEREAS, after notices provided by law, this Council held a public hearing on the
day of , 2002, at which time the public was given an opportunity to
express their opinions regarding the proposed PUD 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:
FACouncil\0rdinances\2002\0rd 02-19 Lots 22,22A, Tracts A, B-1, 132, 132 BMBC Chapel Sq PUD amend.doc
1. 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 Amendment of the Chapel Square PUD as outlined in the application and
following conditions is consistent with goals and objectives of the Town's
Comprehensive Plan, and is compatible with surrounding neighborhood and is
consistent with the public interest.
3. That the development standards for the Chapel Square PUD, Lots 22, 22A, 22B,
Tracts A, B-1, and B-2, Block 2, Benchmark at Beaver Creek Subdivision comply
with each of the Town of Avon's PUD design criteria and that this proposed
development is consistent with the public interest.
NOW THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN
OF AVON, COLORADO, THAT:
The Chapel Square PUD Amendment removing `Note 16' and replacing it with the note as
outlined in the conditions below, and removing the `Chapel' designation from the zoning
documents and propose a loading dock to service Building C is hereby approved with five
conditions:
1 Fagade improvements to the WalMart Building (Tract B-1) must be completed no later
than January 1, 2003, and `Note 16' accordingly revised on the PUD mylars. No
extensions will be granted. In the event of non-compliance of the faeade improvements,
fines will be assessed from the original faeade deadline (October 29, 2001) as required in
the original PUD approval and retroactive to that date per Town Code Section 17.40.010
(B)•
2. The final location, dimension, and details of the proposed loading dock to service
Building C will be reviewed and approved through the design review process. This will
require hard-line drawings to scale, and a recalculation of the available landscaping area
for the entire project.
3. The PUD mylars will be revised to delete the proposed `Chapel' from Lot 22A, as well as
revise the `Uses by Right' chart to indicate whether or not `Churches' is a use by right.
FACouncil\0rdinances\2002\0rd 02-19 Lots 22, 22A, Tracts A, B-1, 132, 132 BMBC Chapel Sq PUD amend.doc
4. Except as otherwise modified by this permit approval, all material representations made
by the applicant or applicant representative(s) in this application and in public hearing(s)
shall be adhered to and considered binding conditions of approval.
INTRODUCED, PASSED ON FIRST READING, APPROVED AND ORDERED
POSTED, this day of , 2002, and a public hearing shall be held at the
regular meeting of the Town Council of the Town of Avon, Colorado, on the day of,
, 2002, at 5:30 P.M. in the Municipal Building of the Town of Avon, Colorado.
Town of Avon, Colorado
Town Council
Mayor
ATTEST:
Town Clerk
INTRODUCED, PASSED ON SECOND READING, APPROVED AND ORDERED
POSTED the day of , 2002.
Town of Avon, Colorado
Town Council
Mayor
ATTEST:
Town Clerk
APPROVED AS TO FORM:
Town Attorney
FACouncil\0rdinances\2002\0rd 02-19 Lots 22, 22A, Tracts A, B-1, 132, 132 BMBC Chapel Sq PUD amend.doc
Staff Report
PUD VON
C O L O R A D O
August 20, 2002 Planning & Zoning Commission meeting
Report date August 16, 2002
Project type PUD Amendment
Legal description Lots 22, 22A, Tracts A. B1, & B2, Block 2,
BMBC Subdivision (Chapel Square PUD)
Current zoning PUD
Address 220 & 240 Chapel Square Place
Introduction
The new owner of Chapel Square, LB Chapel Square LLC (hereinafter referred to as "Owner"),
is seeking several amendments to the existing PUD. The most significant amendment requested
is to remove a condition placed on the original approval that required the facade of WalMart to
be completed in the same style as the rest of the project within two years after the first.
Temporary Certificate of Occupancy being issued for the property. The deadline for completing
the facade improvements was October 29, 2001.
Additionally, the Owner is seeking an amendment to the Chapel parcel to reconfigure the site to
accommodate four additional parking spaces and a loading area to benefit Building C.
PUD Design Criteria
According to the Town of Avon Zoning Code, Section 17.20.110, the following shall be used as
the principal criteria in evaluating a PUD. It shall be the burden of the applicant to demonstrate
that submittal material and the proposed development plan comply with each of the following
design criteria, or demonstrate that one or more of them is not applicable, or that a particular
development solution is consistent with the public interest.
1. Conformance with the Town of Avon Comprehensive Plan's Goals and Objectives.
The planned amendments generally conform to the Comprehensive Plan goals and
objectives, in particular:
Goal Al c :Identify parcels of land upon which the existing land use is inappropriate, and
promote their redevelopment.
Staff is requiring the Owner proceed with facade improvements, new color scheme, and
stucco work as proposed in the accompanying final design application by January 1, 2003.
Goal I: Ensure that a high quality visual image of the Town is established through both public
and private sector activities.
The requirement of a facade on the Wa1Mart building is an appropriate measure to protect the
visual quality of the Chapel Square PUD.
Town of Avon Community Development (970) 748-4030 Fax (970) 949-5749
Lot 22, 22A, Tract A, B1, & B2, Lack 2, BMBC Subdivision, Chapel Square PUD Amendments
August 20, 2002 Planning & Zoning Commission meeting Page 2 of 4
2. Conformity and compliance with the overall design theme of the town, the sub-area
design recommendations. and design guidelines of the Town.
The proposed changes comply with the overall design theme of the Town only if a fagade or
other arcade arrangement is constructed as recommended by staff. To remove the
requirement of a fagade without requiring the Owner to construct this building in a manner
consistent with the remainder of the Chapel Square PUD is not acceptable and conflicts with
the design theme of this project.
3. Design compatibility with the immediate environment, neighborhood, and adjacent
properties relative to architectural design, scale, bulk, building height, buffer zones,
character, and orientation.
The proposed PUD amendments should continue to be compatible with the immediate
environment and design. The loading dock configuration must be reviewed under separate
application for final design modification when engineering drawings are available.
4. Uses, activity, and density provide a compatible, efficient, and workable relationship
with surrounding uses and activity.
The proposed uses and density continue to provide a compatible, efficient, and workable
relationship with the surrounding uses and activities. The deletion of the proposed chapel
from the project as a `use by right' is acceptable, since the Town did not require this chapel
to be constructed through the original PUD approval.
5. Identification and mitigation or avoidance of natural and/or geologic hazards that
affect the property upon which the PUD is proposed.
The proposed amendments should not affect any natural or geologic hazards that may exist
on the PUD.
6. Site plan, building design and location and open space provisions designed to produce a
functional development responsive and sensitive to natural features, vegetation and
overall aesthetic quality of the community.
The proposed revisions to the site plan can be partially supported as a loading dock only, and
should produce a more functional access plan for Building C.
7. A circulation system designed for both vehicles and pedestrians addressing on and off
site traffic circulation that is compatible with the Town Transportation Plan.
The circulation system as proposed, with several minor modifications, appears compatible
with the Town Transportation Plan.
8. Functional and aesthetic landscaping and open space in order to optimize and preserve
natural features, recreation, views and function.
Landscaping and open space are not issues of this.PUD amendment.
9. Phasing plan or subdivision plan that will maintain a workable, functional, and efficient
relationship throughout the development of the PUD. The phasing plan shall clearly
demonstrate that each phase can be workable, functional and efficient without relying
upon completion of future project phases.
Town of Avon Community Development (970) 748-4030 Fax (970) 949-5749
Lot 22, 22A, Tract A, B1, & B2, L.,,ck 2, BMBC Subdivision, Chapel Square PUD Amendments
August 20, 2002 Planning & Zoning Commission meeting Page 3 of 4
The phasing plan and subdivision plan will remain functional and efficient, and the proposed
PUD amendments do not appear to affect these items.
10. Adequacy of public services such as sewer, water, schools, transportation systems,
roads, parks, and police and fire protection.
Adequate public services are already in place for the entire Chapel Square PUD project. The
proposed PUD amendments do not affect public services.
11. That the existing streets and roads are suitable and adequate to carry anticipated
traffic within the proposed PUD and in the vicinity of the proposed PUD.
The proposed PUD amendments do not appear to affect the existing road network servicing
the project.
12. Development Standards
The only development standard potentially affected by the proposal is the minimum
landscaping area, which will need to be specifically identified when the new loading dock
area is submitted as a design (minor modification) and building permit.
Additionally, the deletion of the church and subsequent clarification on the "Uses By Right"
chart must be recorded on a revised PUD mylar, as will the modification of the current
fagade improvement requirement.
Staff Comments
Staff supports the fagade improvements and the revised condition as recommended herein and in
companion with the final design application.
The proposed parking and loading dock to Building C will require civil drawings to determine
whether or not it is functional; however at this time, we would support the use of this area as a
loading dock. We recommend the PUD mylars identify only a loading dock and continue review
of this proposal through a formal design review process.
Recommended Motion
Approve Resolution 02-10, recommending to the Town Council approval of the Chapel Square
PUD Amendment, Lots 22, 22A, Tract B-1, and Tract B-2, Block 2, Benchmark at Beaver Creek
Subdivision, Town of Avon, Eagle County, Colorado with the following conditions:
1. Fagade improvements to the WalMart Building (Tract B-1) must be completed no later
than January 1, 2003, and `Note 16' accordingly revised on the PUD mylars. No
extensions will be granted. Fines for non-compliance to the original fagade deadline
(October,29, 2001) as required in the original PUD approval will be assessed and
retroactive to that date per Town Code Section 17.40.010 (B).
2. The final location, dimension, and details of the proposed loading dock to service
Building C will be reviewed and approved through the design review process. This will
require hard-line drawings to scale, and a recalculation of the available landscaping area
for the entire project.
3. The PUD mylars will be revised to delete the proposed `Chapel' from Lot 22A, as well as .
revise the `Uses by Right' chart to indicate whether or not `Churches' is a use by right.
Town of Avon Community Development (970) 748-4030 Fax (970) 949 5749
Lot 22, 22A, Tract A, B1, & B2, t,..,ck 2, BMBC Subdivision, Chapel Square PUD Amendments
August 20, 2002 Planning & Zoning Commission meeting Page 4 of 4
4. Except as otherwise modified by this permit approval, all material representations made
by the applicant or applicant representative(s) in this application and in public hearing(s)
shall be adhered to and considered binding conditions of approval.
If you have any, questions regarding this project or any planning matter, please call me at 748-
4030, or stop by the Community Development Department.
Respectfully submitted,
Tambi Katieb, AICP
Town of Avon Community Development (970) 748-4030 Fax (970) 949-5749
TOWN OF AVON
PLANNING & ZONING COMMISSION
RESOLUTION NO. 02-10
SERIES OF 2002
A RESOLUTION RECOMMENDING TO THE TOWN COUNCIL OF THE TOWN OF
AVON APPROVAL OF A PUD AMENDMENT TO THE CHAPEL SQUARE PUD FOR
LOTS 22,22A, TRACTS A, Bl & B2, BLOCK 2, BENCHMARK AT BEAVER CREEK
SUBDIVISION, TOWN OF AVON, EAGLE COUNTY, COLORADO
WHEREAS, LB Chapel Square LLC, has applied for an amendment to Lots 22, 22A, Tract
A, B 1 & B2, Block 2, Benchmark at Beaver Creek Subdivision, to amend the Chapel
Square PUD to remove `Note 16' and replace it with the note as outline in the condition,
and to remove the `Chapel' designation from the zoning documents; and
WHEREAS, after notices required by law, a public hearing on said application was held by
the Planning & Zoning Commission of the Town of Avon; and
WHEREAS, said application is consistent with all legal requirements.
NOW, THEREFORE, BE IT RESOLVED that the Planning and Zoning Commission hereby
recommends to the Town Council of the Town of Avon approval of the application for
PUD Amendment for Lot 22, 22A, Tract A, B 1, & B2, Block 2, Benchmark at Beaver
Creek Subdivision, Town of Avon, Eagle County, Colorado with the following
conditions:
1. Fagade improvements to the WalMart Building (Tract B-1) must be completed no later
than January 1, 2003, and `Note 16' accordingly revised on the PUD mylars. No
extensions will be granted, or fines for non-compliance to the original fagade deadline
(October 29, 2001) as required in the original PUD approval will be assessed and
retroactive to that date per Town Code Section 17.40.010 (B).
2. The final location, dimension, and details of the proposed loading dock to service
Building C will be reviewed and approved through the design review process. This will
require hard-line drawings to scale, and a recalculation of the available landscaping area
for the entire project.
3. The PUD mylars will be revised to delete the proposed `Chapel' from Lot 22A, as well as
revise the `Uses by Right' chart to indicate whether or not `Churches' is a use by right.
4. The applicant consider revising the project name to remove `Chapel' from the title.
5. Except as otherwise modified by this permit approval, all material representations made
by the applicant or applicant representative(s) in this application and in public hearing(s)
shall be adhered to and considered binding conditions of approval.
ADOPTED THIS 20th DAY OF AUGUST, 2002
Signe
Date:
Chris Evans, Chairman
Attest:
A" V VbA! Date: 7,
Michael. McClinton, Secretary