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TC Ord. No. 2006-02 Amending Ord No 05-12 relating to the Chateau St.Claire planned unit developmentTOWN OF AVON, COLORADO ORDINANCE NO. 06-02 Series of 2006 AN ORDINANCE AMENDING ORDINANCE NO 05-12, RELATING TO THE CHATEAU ST. CLAIRE PLANNED UNIT DEVELOPMENT WHEREAS, Ordinance 05-12, finally adopted December 13, 2005, approved an amendment to the Chateau St. Claire Planned Unit Development upon the application of CSC Land, LLC, the effective date thereof to be January 10, 2006, on certain conditions including 1) receipt by the Town of proof of funding of a loan by U.S. Bank in at least the amount of $36,179,397 and 2) funding to include a completion bond running in favor of the lender, U.S. Bank; and WHREAS, proof of funding in the form of a recorded mortgage or deed of trust has been received; and WHEREAS, such funding includes a completion bond only as a condition to a future disbursement by US Bank, which disbursement is anticipated to occur in February, 2006; NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF AVON, COLORADO that the amendment to the Chateau St. Claire Planned Unit Development and Ordinance 04-20, as more specifically described in the application dated October 11, 2005, is hereby approved, subject to the following conditions: 1. The Amended and Restated Development Agreement for The Gates on Beaver Creek, the form of which is attached as Exhibit A to Ordinance No. 05-12, which form has been approved by the Town Attorney, shall be signed and filed in the records of the Town. 2. The Employee Housing Impact Fee collected is fully dedicated to the Town irrespective of the project outcome; however, should the applicant seek an increase in density or future amendment to the PUD allowed uses, an new Impact Fee will be assessed; 3. In no event will the building permit or construction schedule be extended past December 14, 2008; and 4. No new construction shall occur under the permit until the Town is in receipt of proof of the receipt and approval by US Bank of a completion (or a payment and performance) bond covering the construction of all improvements described in the plans filed with the Town, such proof to be in the form of receipt of a copy of the bond together with a written confirmation by the Bank of its approval of it. 5. Upon failure of the condition contained in paragraph 4 hereof on or before April 27, 2006, this Ordinance and all approvals contained in it shall be of no further force and effect and the building permit shall be void. INTRODUCED, APPROVED, PASSED ON FIRST READING AND ORDERED POSTED the 10th day of January, 2006, and a public hearing on this ordinance shall be held at the regular meeting of the Town Council on the 24th day of January, 2006, at 5:30 P.M. in the Counc l'.Cl ai ibers.,Avon Municipal Building, 400 Benchmark Road, Avon, Colorado. ?'Y .t ~ a ~ Lei Ronald C. Wolfe, Mayor ATT " Patt Mc envy, n Clerk Ordinance No. 06-02 the Gates Page 2 of 3 INTRODUCED, FINALLY APPROVED, PASSED ON SECOND READING AND ORDERED POSTED the 24th day of January 06. Ronald C Wolfe Mayor Pat e wn 1'erl~~~::-~-y'✓ APPROVED AS TO FORM: ATTEST: 21.1• °Z.. Q~ 4'/1'\ Joh W. Dunn, Town Attorney Ordinance No. 06-02 the Gates Page 3 of 3 t MEMORANDUM TO: TOWN COUNCIL FROM: TOWN ATTORNEY RE: THE GATES DATE: January 19, 2006 Ordinance 05-12, finally adopted December 13, 2005, approved an amendment to the Chateau St. Claire Planned Unit Development upon the application of CSC Land, LLC, the effective date thereof to be January 10, 2006, on certain conditions including 1) receipt by the Town of proof of funding of a loan by U.S. Bank in at least the amount of $36,179,397 and 2) the funding to include a completion bond running in favor of the lender. Proof of funding in the form of a copy of a deed of trust recorded in Eagle County was received prior to the Council meeting on January 10, 2006. However, such funding included a completion bond only as a condition to a future disbursement by US Bank, which disbursement is anticipated to occur in February, 2006. Therefore, the Council was unable on January 10 to make a finding, by resolution, that Ordinance 05-12 had become effective. Council therefore adopted Ordinance No. 06-02 on first reading on January 10. That ordinance amends Ordinance 05-12 to make approval of the Chateau St. Claire PUD immediately effective but to prohibit any new construction until the Town receives a completion bond which has been approved by the lender. The ordinance also provides that, if that condition is not met by April 27, the ordinance and all approvals contained in it shall be no further force and effect and the building permit shall be void. At this time there has been no further contact with CSC Land or its attorney. When and if the condition is met, Council will be advised. JWD:ipse TOWN OF AVON, COLORADO ORDINANCE NO. 06-02 Series of 2006 AN ORDINANCE AMENDING ORDINANCE NO 05-12, RELATING TO THE CHATEAU ST. CLAIRE PLANNED UNIT DEVELOPMENT WHEREAS, Ordinance 05-12, finally adopted December 13, 2005, approved an amendment to the Chateau St. Claire Planned Unit Development upon the application of CSC Land, LLC, the effective date thereof to be January 10, 2006, on certain conditions including 1) receipt by the Town of proof of funding of a loan by U.S. Bank in at least the amount of $36,179,397 and 2) funding to include a completion bond running in favor of the lender, U.S. Bank; and WHREAS, proof of funding in the form of a recorded mortgage or deed of trust has been received; and WHEREAS, such funding includes a completion bond only as a condition to a future disbursement by US Bank, which disbursement is anticipated to occur in February, 2006; NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF AVON, COLORADO that the amendment to the Chateau St. Claire Planned Unit Development and Ordinance 04-20, as more specifically described in the application dated October 11, 2005, is hereby approved, subject to the following conditions: 1. The Amended and Restated Development Agreement for The Gates on Beaver Creek, the form of which is attached as Exhibit A to Ordinance No. 05-12, which form has been approved by the Town Attorney, shall be signed and filed in the records of the Town.