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TC Res. No. 2016-39 Providing Funding for Landscaping and Heat Recovery Avon HotelTOWN OF AVON RESOLUTION 16 -39 SERIES OF 2016 A RESOLUTION PROVIDING FUNDING FOR LANDSCAPING AND HEAT RECOVERY UTILITY IMPROVEMENTS RELATED TO THE AVON HOTEL, TOWN OF AVON, COLORADO WHEREAS, the Town Council of the Town of Avon approved Findings of Fact and a Record of Decision for a Major Development Plan and Alternative Equivalent Compliance application for the Avon Hotel located on Lot B; and WHEREAS, the Avon Urban Renewal Authority has an adopted Urban Renewal Plan for the Town Center West Area, which specifies the objectives and uses of funds which accrue to the Urban Renewal Fund; and WHEREAS, Treadstone Development LLC has requested the funding of heat recovery in a public - private partnership, which are uses of funds authorized by the Urban Renewal Plan for the Town Center West Area; and WHEREAS, the Avon Hotel project will enhance the vibrancy of the Town Center West area with increased visitors to the Town and beautification of underutilized property with landscaping and other aesthetic improvements; and WHEREAS, leveraging and expanding the Heat Recovery system to serve the Avon Hotel presents an alternative heating source that reinforces the Town Council's stewardship goals outlined in the 2017 -18 Strategic Plan; and WHEREAS, the project is located in the Town Center West Area and expected to generate significant increases to assessed valuation of the Lot B property, and in turn long term financial benefits to the Urban Renewal Fund; NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF AVON, COLORADO: Section 1. The Town Council authorizes the transfer of $20,000 from the 2016 General Fund Contingency line item to the Buildings and Facilities budget for the purpose of engaging a professional engineer to study the capacity of the Heat Recovery system to verify there is excess capacity to serve the new Town Hall and the needs of the Avon Hotel project, to estimate costs of pipe system extension and to develop the methodology for utility charges; and directs that a budget amendment be prepared to reimburse the General Fund from the 2017 Urban Renewal Fund, for consideration by the Urban Renewal Authority. Section 2. The Town Council approves $40,000 from the Urban Renewal Fund, subject to review of Heat Recovery system expansion report prepared by profession engineer for the design and construction to extend the Heat Recovery pipe system to the Lot B property line for use by the Avon Hotel development, and the Urban Renewal Authority approving a budget amendment,; ADOPTED this 13th day of December, 2016. SEAL ATTEST: Lt1R0" a, ´┐ŻLnc.n, 0 Debbie Hoppe Town Clerk TOWN OF AVON, COLORADO Je ie Fancher Mayor