TC Ord. No. 2000-02 Conditionally approving a PUD Development Plan for Tract C at Avon Center at Beaver CreekVal90 -
TOWN OF AVON
ORDINANCE NO. 02
SERIES OF 2000
AN ORDINANCE CONDITIONALLY APPROVING A PUD DEVELOPMENT PLAN
(INCLUDING DEVELOPMENT STANDARDS) FOR TRACT C, AVON CENTER AT
BEAVER CREEK SUBDIVISION, AND AUTHORIZING EXECUTION OF A
DEVELOPMENT AGREEMENT
WHEREAS, Vail Associates Investments, Inc., a Colorado corporation ( "VA ") is the owner of
Tract C (also known as Lot C), Avon Center at Beaver Creek Subdivision, and
WHEREAS, upon the application of VA the Town, on or about October 27, 1998, enacted
Ordinance 98 -21, approving a zoning change of said Tract from TC to PUD, and
WHEREAS, said ordinance provided, among other things, that "Development may occur on this
site only in conformance with a site - specific Development Plan ... reviewed and approved by the
Town through a separate application and review process pursuant to Section 17.20.110 of the
Avon Municipal Code," and
WHEREAS, contemporaneous with the adoption of Ordinance 98 -21 the Town and VA entered
into that contract known as "Development Agreement — Confluence and Tract C," (the "1998
Development Agreement "), and
WHEREAS, VA now has applied to the Town for approval of a site - specific Development Plan
(including Development Standards) (a copy of which is attached hereto as Exhibit A and made a
part hereof), concerning Tract C, and
WHEREAS, the Town and VA desire to enter into a contract, a copy of which is attached hereto
as Exhibit B and made a part hereof, amending the 1998 Development Agreement insofar as it
concerns Tract C only, and
WHEREAS, a public hearing as prescribed by law was held on VA's said application before the
Town of Avon Planning and Zoning Commission, followed by the delivery to the Town Council
of P &Z's recommendation on said application (a copy of which is attached hereto as Exhibit C
and made a part hereof), and
WHEREAS, the Town Council finds that VA's application is consistent with the Comprehensive
Plan for the Town, and
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WHEREAS, an express condition of the Town's adoption of this ordinance and approval of
VA's application is the execution of the attached form of "Amendment to Development
Agreement For Confluence and Tract C" (the "Amendment ") and,
WHEREAS, subject to the conditions and limitations set forth in this ordinance, the Town
Council wishes to grant approval of VA's application, and
WHEREAS, the Town Council finds that the adoption of this ordinance and the execution of the
Amendment are both in the public interest and serve the public purposes of increasing
employment and economic development in the Town, including the development of new
businesses and the expansion of existing businesses.
NOW THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF
AVON, COLORADO, that:
1. The Mayor is authorized to execute on behalf of the Town the attached Amendment;
2. Upon the execution of the Amendment, VA's application for approval of its attached
Development Plan for Tract C is approved subject to the conditions and limitations set forth in
Sections 8.12 and 8.13 of the attached form of Amendment.
INTRODUCED, PASSED ON FIRST READING, APPROVED AND ORDERED POSTED,
this 8th day of February, 2000, and a public hearing on this Ordinance shall be held at the regular
meeting of the Town Council of the Town of Avon, Colorado on the 22nd day of February, 2000,
at 5 :30 p.m., in the Municipal Building of the Town of Avon, Colorado.
J
Yo-def, Wyor
TT =T:
Town Clerk
INTRODUCED, PASSED ON SECOND READING, APPROVED AND ORDERED POSTED,
this 22 °d.day of February, 2000.
s
JK0 Yoder�llaVr
r
TTEST :
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vt""i
K !t..dsh11own Clerk
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APPROVED AS TO FORM AND LEGAL SUFFICIENCY:
4 4�
Burt Wevin, Town Attorney
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AMENDMENT TO DEVELOPMENT AGREEMENT FOR
CONFLUENCE AND TRACT C
THIS AMENDMENT to the Development Agreement for Confluence and Tract C (this
"Amendment ") is made and entered into by and between Vail Associates Investments, Inc., a
Colorado limited liability company (hereinafter "Owner ") and the Town of Avon (hereinafter
the "Town "), a Colorado municipal corporation.
RF. TTAT.0
A. Owner owns a parcel of real property in the Town generally known as Tract C
(also known as Lot C), Avon Center at Beaver Creek Subdivision (hereinafter "Tract C "), as
more particularly described in Exhibit A attached.
B. On or about October 27, 1998, the parties hereto entered into a contract, a copy
of which is attached as Exhibit B, titled "Development Agreement - Confluence and Tract C"
(hereinafter the "1998 Development Agreement ").
C. The parties wish to amend the 1998 Development Agreement concerning Tract
C only. The parties expressly intend not to modify any of the terms of the 1998 Development
Agreement insofar as that agreement refers to and concerns the properties defined therein as
the "Confluence" and "Tract B."
AMENDMENT
ARTICLE V
REBATE AGREEMENT
5.1 Allocation of Taxes. The parties have renegotiated their agreement with regard
to the allocation of taxes, as follows.
(a) Section 5.1 of the 1998 Development Agreement Deleted. Section 5.1 of
the 1998 Development Agreement is hereby deleted as it pertains to Tract C, and the parties
agree as follows.
(b) Sales and Accommodations Taxes Attributable to Lease or Rental of Hotel
Rooms. The Town agrees to account for sales taxes (as generated in accordance with Chapter
3.08 of the Avon Municipal Code, as amended) and accommodations taxes (as generated in
accordance with Chapter 3.28 of the Avon Municipal Code, as amended) collected by the
Town and attributable to the lease or rental of hotel rooms on Tract C, and to rebate 75%
thereof to the special district which includes Tract C within its boundaries (the "Tract C
District ") within sixty (60) days following the end of the calendar month when collected (or
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partial month, if appropriate, in the case of the month in which this Amendment becomes
effective or is terminated). The Town shall maintain a separate "Tract C Sales and
Accommodations Tax Rebate Account" (the "Sales Tax Rebate Account ") into which such
taxes shall be deposited until rebated for the parking improvement project located on Tract C.
Said Sales Tax Rebate Account shall be separately accounted for and shall not be used, pledged
or otherwise encumbered except as specifically set forth herein.
The Town shall not be obligated to account for or rebate any sales taxes on retail sales
or other taxable sales occurring within the hotel on Tract C.
The duration of this obligation to account for and rebate accommodations taxes or sales
taxes attributable to the lease or rental of hotel rooms shall be for a period of fifteen (15)
years, commencing upon the date when the hotel is opened to the public or on June 1, 2006,
whichever date is earlier; provided, however, that in no event shall the Town be under an
obligation to account for or rebate such taxes after the bonds or other obligations related to the
Tract C parking improvements project are satisfied or retired.
(c) Real Estate Transfer Taxes. Subject to the conditions stated below, the
Town agrees to account for all Real Estate Transfer Taxes (RETT) attributable to the first sale
of time -share units located on Tract C, and to rebate 50% thereof to the Tract C District
within sixty (60) days following the end of the calendar month when collected (or partial
month, if appropriate, in the case of the month in which this Amendment becomes effective or
is terminated). The Town shall maintain a separate "Tract C Real Estate Transfer Tax Rebate
Account" (the "RETT Rebate Account "), into which such taxes shall be deposited until rebated
for the parking improvement project located on Tract C. Said RETT shall be required to be
rebated only with respect to the first sale of each time -share interest in each unit constructed on
Tract C, and shall not be required with respect to any subsequent resale thereof.
It is the expectation of the parties that a series or series of bond or other obligations
shall be issued or incurred for the parking improvements project located on Tract C. It is also
the expectation of the parties that the allocation of and rebate from the RETT Rebate Account
®� is to be used only for paying the debt service corresponding to the parking improvements
project on Tract C. The allocation and rebate of RETT shall continue to be made from the
RETT Rebate Account until the bond or bonds (or other obligations) issued or incurred by the
i Tract C District and secured by rebates from said account have been paid in full. However, in
®v, a no instance shall the Town continue the allocation and rebate of RETT taxes from the RETT
0) m 1 Rebate Account beyond fifteen (15) years after the commencement of deposits in said account.
as
az
eCM a ! Notwithstanding the foregoing, prior to the earlier to occur of June 1, 2007 or a hotel
=� a i in Tract C opening to the public, all amounts required to be deposited by the Town in the
o RETT Rebate Account shall be held in an interest - bearing escrow fund to be established with a
®N m banking institution mutually acceptable to the Town and the Owner. In the event such hotel is
= opened to the public on or before June 1, 2007, any interest accumulated on rebateable funds
a ! within the escrowed RETT Rebate Account shall be split evenly between the Town and the
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Tract C District and the balance of such fund shall be conveyed to the Tract C District free and
clear of any claim by the Town. If the hotel is not opened to the public on or before June 1,
2007, then all amounts held in the escrowed RETT Rebate Account shall be conveyed to the
Town free and clear of any claim by the Tract C District.
Notwithstanding the foregoing, the Town shall in no event be under an obligation to
rebate RETT in an amount which exceeds One and a half Million Dollars ($1,500,000)
(excluding any interest accumulated on funds deposited within the RETT Rebate Account).
(d) Cooperation by the Town. The Town shall make all allocations and
deposits of taxes, as provided above, unless prevented by court order from so doing. In the
event any action is commenced challenging the right of the Town to make such allocations and
deposits, the Town shall notify Owner in writing of such action prior to the Town filing its
first responsive pleading in such action and shall allow'the Districts to participate in any
defense to such action as set forth in Section 2.4 of the 1998 Development Agreement.
ARTICLE VIII
MISCELLANEOUS
8.12 Recreation Amenities Fee. Commencing as of the effective date of this
agreement, and continuing in perpetuity, the Owner, or the condominium timeshare
association, if any, is obligated to the Town for payment of a Recreation Amenities Fee. The
fee shall be calculated and paid to the Town semiannually and will be based on an initial annual
amount of twenty -five ($25) dollars for each deeded time -share unit located on Tract C. (For
purposes hereof, time -share unit includes any accommodation unit separately deeded.)
The amount of the semiannual payments will be calculated according to the following
formula:
Number of existing or newly deeded time -share units per semiannual period
(January -June; July- December), multiplied by $25 (or as adjusted by CPI, as
` defined below), divided by 2.
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The due dates for the semiannual payments are August 20 and February 20 for the
w previous semiannual calculation period.
®N ® For purposes hereof, "deeded time -share unit" is defined as any time -share unit
Cr Z j heretofore deeded by a time -share developer to the owner thereof and includes time -share units
which have been foreclosed upon or re- conveyed in lieu -of foreclosure.
mo
yam On January 1, 2001, and on the first day of each year thereafter, the amount of the fee
shall be increased by the prior years' average consumer price index for All Urban Consumers
®m O1 (CPI -U) for the Denver - Boulder- Greeley metropolitan area as published semiannually and
m appearing in the January and July issues of the CPI Detailed Report published by the Bureau of
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Labor Statistics.
It shall be the duty of the Owner or the condominium timeshare association, if any, to
keep and preserve such records as are necessary to determine the amount of fees due
hereunder. Such records shall be preserved for a period of three years and shall be open for
inspection by representatives of the Town during regular business hours.
If a remittance to the Town is delinquent, or the remittance is less than the full amount
due, the Town shall make a written determination of the amount due and deliver or mail the
same to the office of the Owner or the condominium timeshare association, if any. The
amount properly determined to be owing shall be subject to a penalty in the amount of ten
percent of the amount due and shall bear interest from the due date of the remittance at the rate
of one and one -half percent per month until paid.
8.13. Additional Provisions.
Town of Avon Ordinance No. 02, Series of 2000, conditionally approves a PUD
Development Plan (Including Development Standards) for Tract C. Said Development Plan
was approved subject to the following conditions which are incorporated herein and made a
part of this Amendment:
A. Proposed storm water detention and pollution control facilities located on Town
owned property known as Tract G (the "Town Lot "), as depicted on the Development Plan for
Tract C, are approved in concept only, by this Ordinance. Design, construction, and
management of the storm water detention and pollution control facilities located on the Town
Lot must be approved by the Town at a later date, and will be governed by a separate
agreement which shall provide satisfactory assurances that these facilities will be operated and
maintained at no cost to the Town and will be relocated or replaced at no cost to the Town in
the event the facilities conflict with future development on the Town Lot.
B. At buildout, the project shall incorporate:
1. a minimum of 21,350 square feet (sf) of gross leaseable floor area (GLFA)
ground -floor commercial space suitable for commercial retail use which square footage
includes 4,800 sf GLFA of restaurant space in the Phase 2 hotel;
2. a minimum of 10,500 sf GLFA of office /retail commercial space on the
second and third floor of the freestanding commercial building closest to the Seasons
building;
3. a hotel of no less than 125 rooms;
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4. 20 dwelling units of deed restricted employee housing (the "Employee Units ")
including eight studios, eight one - bedroom, two two - bedroom and two three- bedroom units
totaling no less than 26 bedrooms; and
5. not more than 133 two - bedroom time -share units, each of which may be
subdivided into one one - bedroom dwelling unit and one one - bedroom accommodation unit
for a total of 266 condominium units. For zoning density purposes each two - bedroom
time -share unit will be one dwelling unit. However, each dwelling unit and
accommodation unit shall be considered a separate time -share unit which may be separately
conveyed, occupied, rented or exchanged. Subdivision of time -share units shall be
accomplished by the condominium declaration and map for the project.
The phasing of the project shall be as follows:
Phase 1 -A: 50 time -share units and 5,800 sf GLFA of ground floor commercial
space fronting West Beaver Creek Boulevard and the internal pedestrian connection to the
Avon Town Center Mall and the Employee Units. 2,050 sf GLFA of such retail space
may be used for lobby, check -in and support functions for the time -share units until Phase
1 -B is completed. Parking will include construction of 180 spaces.
Phase 1 -B: 35 time -share units. A building permit will be issued for Phase 1 -B (the
second phase of the Timeshare portion of the project) at such time as a building permit is
issued for the 15,750 sf GLFA three story freestanding commercial building closest to the
Seasons building (at least the ground level of which will be for retail use and the second
and third floors of which may be used for office or retail use). Parking will include
construction of 11 spaces.
Phase 1 -C: 48 time -share units. A building permit will be issued for Phase 1 -C
(the third phase of the Timeshare portion of the project) at such time as a building permit
is issued for the hotel (which shall include a minimum of 5,500 sf GLFA ground -level
commercial area suitable for retail use) and 4,800 sf GLFA of restaurant space in the hotel.
Parking will include construction of 183 spaces.
C. A complete landscaping plan and construction laydown plan will be required prior
to issuance of a building permit for each phase of the project.
D. The parking structure will be designed for future access to the Sunroad ramp and
Tract B.
E. All parking aisles are required to comply with the 24'0" width.
F. All of the encroachments proposed in the setbacks are non - habitable. The non-
habitable encroachments are limited to balconies, porte - cochere, roof overhangs, awnings, and lower
level roof structures. Limited occupancy within setbacks will also be allowed for outdoor sidewalk
CO_DOCS_A 56189 v 4
M
cafe areas, merchant temporary displays and kiosks and other such accessory uses consistent with
the pedestrian nature of the setback areas, subject to the Town's typical review and regulation of
such uses.
G. All perimeter sidewalks throughout the project shall be a minimum of 8'0" width.
H. No columns or structural supports may either impede the 8'0" wide sidewalk
clearance requirements or encroach into driveways or entrances.
I. All curbs along streets and entrances must include 2'0" gutter pans in addition to
the driving lanes.
J. All streetscape improvements will include furniture, fixtures, kiosks, and lights per
Town standards.
K. All street and streetscape improvements along West Beaver Creek Boulevard and
Benchmark Road must be completed (except for any items that cannot be completed for seasonal or
force majeure reasons) at or prior to the time of issuance of the first temporary certificate of
occupancy ( "TCO ") for the project.
L. The final design and specifications for the bus stop require Design Review
approval.
M. All surface entries and loading entrances shall have a minimum vertical clearance
of 13'6 ".
N. All parking entrances from public roads shall have a 28'0" access width, which will
include a 2'0" gutter pan on each side.
O. The fountain and seating area adjacent to the Town Center Mall must be complete
at the time of issuance of the first TCO for the Phase 1 -B three -story freestanding commercial
- C 0 ' building closest to the Seasons building.
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®L P. The grading plan adjacent to the Town Center Mall included in the Development Plan
— W shall be approved through Design Review (which approval shall not be unreasonably withheld)
� 0 m contemporaneously with the Streetscape Improvement Plan in connection with Phase 1 -A of the
C14 a project.
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a Q. An access easement containing the following terms and conditions must be granted
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m c by the owner of Tract C for the benefit of Tract B (as contemplated by the P & Z approval for Tract
=N B) prior to the issuance of any building permit:
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1. A 39'0" wide access easement extending southwesterly approximately 145
�a CO feet from the intersection of Sunroad and West Beaver Creek Boulevard to the entrance to
the hotel with 19'5" of such easement on each of Tract B and Tract C. From the hotel
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CO DOCS A 56189 v 4 6
entrance to the parking structure the easement shall be 25'0" wide with 12'5" of such
easement on each of Tract B and Tract C.
2. A provision for reciprocal licenses for access across and storage and staging
during construction on designated, vacant portions of Tract B and Tract C, so long as such
portions remain unimproved. The license shall specifically provide that any use of such area
may be terminated upon 30 days' notice from the owner of either tract in anticipation of
commencement of construction of any improvements on vacant areas of Tract B or Tract C.
3. The easement shall also set forth authorization for construction and
management of the storm drainage facilities from Tract B across Tract C as contemplated by
Paragraph A above.
R. The accessibility and function of the trash and delivery areas depicted in the
Development Plan for Tract C are conceptually approved. Specific aspects of the trash and
delivery areas will require subsequent Design Review approval.
S. The architecture, construction details, final grading and drainage plans depicted in
the Development Plan for Tract C are conceptually approved, but will require separate Design
Review approval.
T. Parking shall include 374 parking spaces upon completion of the entire Tract C
project.
8.14 Provisions Regarding 1998 Development A reement.
oa, � oSKCS oP CaeWw` O�ti .Q�S of �
A. In the event Vistana, Inc purchases Tra C from the Owner, the parties agree that
the Owner's right, title and interest in this Amendme t shall be assigned pursuant to Section 8.9
of the 1998 Development Agreement to Vistana, Inc. and this Amendment shall be binding upon
and except as otherwise provided in the Amendment, shall inure to the benefit of Vistana, Inc. and
its successors in interest. Further in the event of such purchase by Vistana, Inc., all obligations
of the Owner herein shall become obligations of Vistana, Inc. Q si 00
B. This Amendment contains all obligations of the Owner with respect to the
development of Tract C. The 1998 Development Agreement shall continue to control the
obligations of the owners of the properties defined therein as the Confluence and Tract B. No
failure of the owners of the Confluence or Tract B to comply with the requirements of or satisfy
the obligations of the 1998 Development Agreement shall affect the development of Tract C
pursuant to the terms of this Amendment and the owner of Tract C and the Tract C District shall
have no responsibility to comply with the requirements of or satisfy the obligations in the 1998
Development Agreement. In the event any provisions of this Amendment may conflict with
provisions of the 1998 Development Agreement, the provisions of this Amendment shall control.
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C. Unless amended herein, the terms of the 1998 Development Agreement remain in
effect.
IN WITNESS WHEREOF, Owner and the Town have executed this Amendment as of the
date indicated below.
A VE TO FORM
urt Levin, Town Attorney
STATE OF COLORADO )
ss.
COUNTY OF EAGLE )
TOWN:
TOWN OF AVON, a municipal corporation
By:
Judy Yo r, yor
DATE:
Subscribed before me this _L�_ day of , 2000, by Judy Yoder, as Mayor
of the Town of Avon, Colorado.
My commission expires: q - 2,(o- -ZLo2
otary Public
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pa
JULIE a
KESSENICH
ATTEST:
STATE OF COLORADO )
ss.
COUNTY OF EAGLE )
as
OWNER:
VAIL ASSOCIATES INVESTMENTS, INC., a
Colorado limited liability cony
as
Its
DATE:
Subscribed before me tby bay of hAAW , 2000,
rn , of Vail Associates Invest ts, Inc.
My Commission EViros 09/IZZ 1
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F ki'l i a (T L
TOWN OF AVON
PLANNING & ZONING COMMISSION
RESOLUTION NO. 99-18
SERIES OF 1999
A RESOLUTION RECOMMENDING TO THE TOWN COUNCIL OF THE
TOWN OF AVON APPROVAL OF A PLANNED UNIT DEVELOPMENT
PLAN AND AMENDING THE DEVELOPMENT STANDARDS
ESTABLISHED BY ORDINANCE 98 -21, LOT C, AVON CENTER AT
BEAVER CREEK SUBDIVISION, TOWN OF AVON, EAGLE COUNTY,
COLORADO
W HEREAS, Vail Associates Investments Inc., owner of the Lot C, has applied for
approval of a Planned Unit Development Plan (PUD) and Amended PUD
Development Standards, as stipulated in Title 17 of the Avon Municipal Code;
and
W HEREAS, a public hearing has been held by the Planning & Zoning Commission
of the Town of Avon, pursuant to notices required by law, 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 Zoning and
Development Plan application; and
W HEREAS, the Planning & Zoning Commission has reviewed and evaluated the
Development Plan according to the criteria Section 17.20.110, subsections H and
I, of the Avon Municipal Code; and
WHEREAS, upon satisfaction of the Planned Development Plan the Conditions
herein including execution of an acceptable Development Agreement by the Town
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Council of the Town of Avon, the Planning & Zoning Commission finds that:
1. The density, land uses and overall pattern of development conform to the Avon
Comprehensive Plan goals and objectives.
2. The PUD Development Plan and Development Standards conform to the overall
design theme of the town, the Subarea design recommendations and design
guidelines;
3. The PUD Development Plan and Development Standards are compatible with the
immediate environment, neighborhood, and adjacent properties relative to
architectural design, scale, bulk, building height, buffer zones, character, and
orientation;
4. The PUD Development Plan and Development Standards propose a mix of uses,
activity, and density which provide a compatible, efficient, and workable
relationship with surrounding uses and activity;
5. The PUD Development Plan will identify and propose any necessary mitigation
and/or avoidance of natural and/or geologic hazards that affect the property;
6. The development as represented by the PUD Development Plan and Development
Standards appear to be designed to produce a functional development responsive
and sensitive to natural features, vegetation and overall aesthetic quality of the
community;
7. The project will incorporate a circulation system designed for both vehicles and
pedestrians addressing on and off -site traffic circulation that is compatible with the
town transportation plan and proposed downtown plan;
8. The PUD Development Plan and development standards propose functional and
aesthetic landscaping and open space, and the PUD Development Plan will optimize
and preserve natural features, recreation, views and function;
9. Phasing plans maintain a workable, functional and efficient relationship throughout
the development of the PUD. The phasing plans clearly demonstrate that each
phase can be workable, functional and efficient without relying upon completion of
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future project phases based on the execution of an acceptable development
agreement and ordinance conditions;
10. There are, or will be as needed, adequate public services including sewer, water,
schools, transportation systems, roads, parks, and police and fire protection;
NOW, THEREFORE, BE IT RESOLVED, that the Planning & Zoning
Commission hereby recommends to the Town Council of the Town of Avon,
Colorado to approve the PUD Development Plan and amended development
standards as depicted in Exhibit A, entitled Lot C Avon, Colorado PUD
Development Plan dated December 14, 1999 as follows:
a. Reducing the West Beaver Creek building Setback from 20 feet to 10 feet,
reducing Benchmark Road building setback from 10 feet to 5 five feet, the
establishment of an 8 foot underground parking setback.
b. Allowance of non - habitable encroachments into the 10 -foot setbacks.
c. An exemption for 20 employee housing units from the maximum allowed
density of 210 dwelling units, subject to the following conditions:
I. General requirements and limitations:
1. The phasing plan as proposed does not comply with the Comprehensive
Plan. The hotel and retail phase should be constructed with Phase IA.
2. The two - bedroom time -share units constitute one dwelling unit and may
not be further subdivided, sold, transferred, conveyed, leased, or sub-
leased separately.
3. A complete landscaping plan and construction laydown plan will be
required prior to issuance of a building permit for each phase of the
project.
4. A common area with a fireplace is required on each floor of the employee
Housing Project.
5. The parking structure will be designed for future access to the Sunroad
ramp and Lot B.
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6. All parking aisles are required to comply with the 24'0" width.
7. All of the encroachments proposed in the setbacks are non - habitable. The
non - habitable encroachments are limited to balconies, porte- cochere, roof
overhangs, awnings, and lower level roof structures.
II. Streets and Streetscape:
8. All perimeter sidewalks throughout the project shall be a minimum of 8'0"
width.
9. No columns or structural supports may either impede the 8'0" wide
sidewalk clearance requirements or encroach into driveways or entrances.
10. All curbs along street and entrances must include 2'0" gutter pans in
addition to the driving lanes.
11. All streetscape improvements will include furniture, fixtures, and lights
per Town standards.
12. All street and streetscape improvements along West Beaver Creek
Boulevard and Benchmark Road must be completed at the time of
issuance of the first TCO for the project.
13. The final design and specifications for the bus stop will be required at
design review.
14. All surface entries and loading entrances shall have a minimum vertical
clearance of 13'6'.
15. All parking entrances from public roads shall have a 28'0" access width,
which will include a 2'0" gutter pan on each side.
16. The fountain/seating area adjacent to the Town Center Mall must be
complete at the time of issuance of the first TCO for the project.
17. The grading plan adjacent to the Town Center Mall is not approved and
must be resolved at design review contemporaneous with the streetscape
improvement plan with the first phase of development.
111111 IIIII 1111111 III 1111111 IIIII IIIII III 111111 III IIII
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III. Required Agreements:
18. An Access Easement Agreement by Lot C for the benefit of Lot B
executed prior to issuance of a building permit and approved by the Town
of Avon. The Agreement must contain the following terms and
conditions:
i. A 39'0 access easement at Sunroad i.e, 19'5" on each property.
ii. Reciprocity for access and storage during construction.
iii. This Agreement will also set forth authorization for construction
and management of the storm drainage facilities from Lot B.
19. An Agreement will be required prior to issuance of a building permit for
the management, design and construction of the storm water detention and
pollution control facilities proposed on Town property known as "Tract G,
Benchmark at Beaver Creek Subdivision ". The PUD Development Plan in
not an approval for the proposed use of Tract G for storm water and
pollution control facilities.
IV. Amendments to the PUD Development Plan:
20. The PUD Development Plan may be modified by reducing the number of
time -share units to accommodate the required parking, additional retail
space, employee housing, or hotel units without requiring a PUD
Amendment.
V. Final Design Review:
21. The accessibility and function of the trash and delivery areas is not
approved. All aspects of the trash and delivery areas will be resolved and
clarified at Design Review.
22. The architecture, construction details, final grading and drainage plans
depicted in the PUD Development Plan are conceptual only. A separate
process is required for refining and resolving the details for the project.
I Illlll Illll lllllll III Illllll IIIII Illll III IIIIII III I'll
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ADOPTED THIS 21 h DA Y OF DECEMBER, 1999
Signed: �'/'" .......
O
Anne Fehlner, Chai
Attest:
Greg Macik, Secretary
IIIIII VIII IIIIIII III IIIIIII
11111 VIII
111-
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Date: 0 o
i
Date: Z-)-7100
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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 22nd DAY OF
FEBRUARY, 2000, AT THE TOWN OF AVON MUNICIPAL BUILDING FOR THE
PURPOSE OF CONSIDERING THE ADOPTION OF ORDINANCE NO. 00 -02, SERIES OF
2000:
An Ordinance Conditionally Approving a PUD Development Plan (Including Development
Standards) for Tract C, Avon Center at Beaver Creek Subdivision, and Authorizing Execution of
a Development Agreement
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 9th day of February, 2000.
TOWMQF 4'O ON, COLORADO
:•
Krts'Nash
Town Clerk
POSTED AT THE FOLLOWING PUBLIC PLACES WITHIN THE TOWN OF AVON ON
FEBRUARY 11, 2000:
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
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1.0/27/98
DEVELOPMENT AGREEMENT
Confluence and Tract C
THIS DEVELOPMENT AGREEMENT (this "Agreement ") is made and entered into as
of October 27, 1998 by and between Vail Associates Investments, Inc., a Colorado limited
liability company (hereinafter "Owner "), Avon Commercial Center Ltd., a Colorado limited
partnership, Shapiro Development Co., general partner, or assigns (hereinafter "Shapiro ") and the
Town of Avon, a municipal corporation of the State of Colorado (the "Town ").
RECITALS
A. Owner is a limited liability company, duly organized and in good standing under
the laws of the State of Colorado. Shapiro is a Colorado limited partnership, duly organized and
in good standing under the laws of the State of Colorado.
B. Owner owns a parcel of real property conditionally annexed to the Town and
generally referred to as the "Confluence" as more particularly described in Exhibit A -1 attached
to this Agreement (the "Confluence "). In addition, Owner owns a parcel of real property in the
Town generally known as "Tract C" as more particularly described in Exhibit A -2 attached to
this Agreement ( "Tract C "). Shapiro owns a parcel of real property in the Town generally
known as "Tract B" as more particularly described in Exhibit A -3 attached to this Agreement.
C. Owner desires.to develop the Confluence and Tract C as mixed use developments
(the parcels referred to collectively as the "Property") which may include, among other uses,
lodging, restaurant, retail, parking, public facilities, open space, office, commercial, conference
center and other uses. Shapiro desires to develop Tract B pursuant to the terms of a separate
agreement and desires to avail itself of the provisions of Article V of this Agreement to aid in
such development for the benefit of the Town and Shapiro.
D. A condition of annexation of the Confluence was the successful negotiation of a
"Development Agreement" concerning the development of the Property, failing which, the
Confluence shall be disconnected from the Town. A significant element of the negotiations
affecting the Property is the zoning of the Property for which Owner has submitted a Zoning
Application to the Town for the Confluence and a separate Zoning Application for Tract C. The
Town and Owner acknowledge that this Development Agreement properly addresses matters
related to Tract C and Tract B notwithstanding that execution hereof is a condition to annexation
of only the Confluence.
E. The Town has authority to zone and govern development of the Property in
accordance with this Agreement, the Comprehensive Plan, the Confluence PUD, the Tract C
PUD (as such terms are defined herein), the Municipal Code, and other applicable Town
requirements and polices. Furthermore, the Town has authority to agree to the vesting of
property development rights concerning the Property, the creation of special districts to provide
public facilities relating to the Property, the rebate of sales and other taxes which would normally
be collected as a result of taxable activities occurring on the Property and on Tract B and the
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granting of tax credits to assist with the equitable sharing of costs associated with development
of public facilities.
F. The Property and Tract B are 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 satisfy the condition of annexation of the Confluence by execution and performance of
this Development Agreement affecting the Confluence, Tract C and Tract B in order to provide
for orderly growth in and around the Town and to increase its tax revenues. Owner, Shapiro and
the Town desire to provide for a tax rebate mechanism so that Owner and Shapiro 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 Tract B which will benefit the Town.
G. The Town may agree to rebate taxes to the Districts subject to discretionary
annual budget appropriations by the Town which, if not made by the Town, will substantially
impair the ability of Owner to develop the Property, will substantially impair the ability of
Shapiro to develop Tract B, and which failure to appropriate shall be deemed to be a failure of a
condition to annexation of the Confluence resulting in a contractual right of Owner to disconnect
the Confluence from the Town.
H. The legislature of the State of Colorado adopted Sections 24 -68 -101, et M. 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.
I. 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.
J. 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.
K. The Town's authority to enter into this Agreement stems from the power vested
generally in Colorado municipalities to address matters of local concern by contract, ordinance
2
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1.8 Effective Date. The effective date of the Town Council ordinance approving this
Agreement.
1.9 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 -1 Legal Description of the Confluence
Exhibit A -2 Legal Description of Tract C
Exhibit A -3 Legal Description of Tract B
Exhibit B The Annexation Agreement
Exhibit C -1 The Development Standards for the Confluence
Exhibit C -2 The Development Standards for Tract C
1.10 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 and Tract B.
1.11 Mall. Avon Town Center Mall established by Ordinance 81 -11.
1.12 Municipal Code. The Town's Municipal Code, as in effect from time to time.
1.13 Pro e . The Tract C property and the Confluence property.
1.14 PUD. Planned unit development or PUD, as such terms are defined and used in the
Municipal Code.
1.15 Real Estate Transfer Tax. For purposes of this Agreement, Real Estate Transfer
Tax shall mean any municipal real estate transfer tax imposed by the Town pursuant to
Municipal Code Ch. 3.12 or any similar code provision enacted during the Term of this
Agreement upon sales of time share units within the Property and Tract B.
1.16 Sales Tax. For purposes of this Agreement, Sales Tax shall mean any municipal
sales tax imposed by the Town pursuant to Municipal Code Ch. 3.08 or any similar code
provision enacted during the Term of this Agreement upon furnishing of rooms or
accommodations within the Property and Tract B.
1.17 Sanitation District. Eagle River Water and Sanitation District.
1.18 Subdivision Improvement Agreement. An agreement guaranteeing the
construction of public improvements for the Property pursuant to Title 16 of the Municipal Code.
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or otherwise. Because the Town of Avon collects its own taxes, it also has authority to rebate
taxes collected or grant credits to taxpayers for fees collected by Owner and Shapiro within
certain geographical areas. Further, the Town may allow Owner or qualified non - profit
corporations to collect such fees. Because such fees will not be collected by the Town and will
not derive from the Town, and because all rebates due hereunder shall be subject to annual
budget appropriation, the rebate of taxes by the Town, the grant of tax credits by the Town, and
the collection of fees by qualified corporations in lieu of such taxes shall not be multiple fiscal
year contractual undertakings of the Town and shall not be a tax policy change directly causing a
net tax revenue gain to the Town which would otherwise require electoral approval.
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 I
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 Affordable Housing. Housing where the occupant is paying no more. than 30% of
gross income for gross housing costs, including utility costs.
1.2 Annexation Agreement. The conditional Annexation Agreement affecting
the Confluence Parcel approved by the Town on August 25, 1998, a copy of which is attached to
this Agreement as Exhibit B.
1.3 Confluence. The parcel of unimproved real property described on Exhibit A -1.
1.4 Comprehensive Plan. The Avon Comprehensive Plan adopted by the Planning
and Zoning Commission of the Town on November 5, 1996.
1.5 Development Standards. As defined in Section 3.2. The Development Standards
pertaining to the Confluence are attached hereto as Exhibit C -1 and the Development Standards
pertaining to Tract C are attached hereto as Exhibit C -2.
1.6 Districts. Shall mean Confluence Metropolitan District and Avon Station
Metropolitan District approved by the Town to serve the Property and Tract B.
1.7 Dwelling Unit. As defined in Section 17.08.270 of the Municipal Code.
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1.19 Town. The Town of Avon, a municipal corporation of the State of Colorado.
1.20 Town Council. The Town Council of the Town.
1.21 Tract B. The real property described in Exhibit A -3 attached hereto.
1.22 Tract C.. The parcel of unimproved real property described on Exhibit A -2.
1.23 Vested Property Rights Statute. As defined in Recital H above.
1.24 Zonin . 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.
1.25 Zoning Application. The separate zoning applications for each parcel comprising
the Property.
ARTICLE H
CONDITIONS PRECEDENT; COVENANTS; THIS AGREEMENT
2.1 Condition Precedent. Annexation of the Confluence to the Town was
accomplished pursuant to Ordinance No. 98 -18and Resolution No. 98 -54, and the Annexation
Agreement which specifically provided that said annexation would be conditional and subject to
disconnection until this agreement is executed and effective. The parties hereto agree that
annexation of the Confluence was in all respects in accordance with the Town charter and the
Colorado Municipal Annexation Act of 1965, as amended (C.R.S. §§ 31 -12 -101, et seq.). The
condition of annexation of the Confluence shall not be deemed to have been satisfied until
Zoning of the Property pursuant to Article III of this Agreement has been completed and
thereafter shall be deemed to have not been fully satisfied if the Town fails or is prevented in any
way from making rebate payments or granting tax credits as set forth herein.
Until Zoning pursuant to Article III of this Agreement has been completed, this document
shall constitute an offer by Owner and the Town to enter into this Agreement (notwithstanding
the parties' mutual execution and delivery of this document) and the condition to annexation of
the Confluence to the Town shall not be deemed satisfied. Consequently, at any time before
such condition is satisfied, Owner or the Town may withdraw the offer to enter into this
Agreement. If either party withdraws its offer to enter into this Agreement, this Agreement shall
be deemed void and of no force or effect, the Confluence shall be deemed not annexed to the
Town and shall be immediately disconnected, and the vested property rights described in this
Agreement shall be deemed not established.
2.2 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
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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 35th 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.
2.3 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 and public hearing 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. Any amendment to any
provision of this Agreement which affects Shapiro's rights to rebates or tax credits hereunder shall
require Shapiro's written consent.
2.4 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 M
ZONING, VESTED RIGHTS AND EXACTIONS
3.1 PUD Zoning. Each parcel comprising Confluence and Tract C shall be zoned as a
separate PUD as provided in this Agreement and in their respective Development Standards.
3.2 Development Standards and Phasing.
(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
permitted upon special review), parking requirements and other guidelines and limitations for the
development of the Property.
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(b) Subsequent Development Approval. After PUD Zoning of the Property
pursuant to Section 3.4(a), Owner and the Town shall enter into a 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 an approved Subdivision Improvement Agreement, all consistent with the
Development Standards and this Agreement (collectively, "Subsequent Development Approval."
3.3 Vesting of Property Rights. Owner and Town agree that (a) this Agreement and the
Development Standards 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, CRRS., as amended.
3.4 Property Rights Vested. The rights identified below shall constitute the vested
property rights under this Agreement:
(a) The right to develop, plan and engage in land uses within the Property in the
manner and to the extent set forth in and pursuant to this Agreement and, the Development
Standards.
(b) The right to develop, plan and engage in land uses. within the Property in
accordance with the densities, physical development standards and other physical parameters set
forth in the Development Standards.
(c) The right to develop the Property in the order, at the rate and at the time as
market conditions dictate, subject to the terms and conditions of this Agreement and the
Development Standards.
(d) The right to develop and complete the development of the Property
(including, without limitation, the right to receive all Town approvals necessary for the development
of the Property) with conditions and standards determined pursuant to Section 3.2(b)which are no
more onerous than those imposed by the Town upon other Owners in the Town on a uniform, non-
discriminatory and consistent basis, and subject only to the exactions and requirements set forth in
this Agreement and the Development Standards; provided that such conditions, standards and
dedications shall not directly or indirectly have the effect of materially altering, impairing,
preventing, diminishing, imposing a moratorium on development, delaying or otherwise materially
adversely affecting any of Owner's rights set forth in this Agreement or the Development
Standards.
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(e) The Town shall not initiate any zoning, land use or other legal or
administrative action that would directly or indirectly have the effect of materially altering,
impairing, preventing, diminishing, imposing a moratorium on development, delaying or otherwise
adversely affecting any of Owner's rights set forth in this Agreement or the Development
Standards.
3.5 Exactions.
(a) Access Roads. Roadways within the Property shall be provided by Owner
and/or one or more of the Districts which shall dedicate such roads to the Town, whereupon the
Town shall accept such roads for dedication in their then current condition and shall assume
maintenance of such roads, including snow removal. All such roadways shall be constructed to the
Town's normal standards for similar roadways, which standards shall be set forth in the Subsequent
Development Approval relating to the portion of the Property containing such roadways.
(b) Drainage. On site drainage facilities for the Property shall be provided by
Owner and/or one or more of the Districts to handle drainage resulting from the development of the
Property.
(c) Pedestrian Overpass. Owner and/or one or more of the Districts shall
provide a pedestrian overpass (crossing the railroad line provided such railroad line has not been
vacated, in which case an appropriate pedestrian crossing will be provided) connecting the
Confluence with the Town core area. The pedestrian overpass shall be constructed along with the
first phase of the conference center as set forth in Section 3.5(d). The design, location and other
details of the pedestrian overpass shall be determined by Owner and the Town. Any dispute
concerning such matters shall be resolved by arbitration.
(d) Conference Center. One or more of the Districts shall construct a conference
center facility on the Confluence as part of the development on the Confluence. Such conference
center shall contain a total of approximately 15,000 square feet and will be constructed in two
phases (one half of the square footage of the conference center in each such phase). The first phase
of the conference center construction shall be commenced upon the Town's issuance of a building
permit for the 100'h Dwelling Unit for the Confluence and shall be diligently pursued to completion.
The second phase of conference center construction shall be undertaken upon the Town's issuance
of a building permit for the 200th Dwelling Unit for the Confluence. The twenty -mill levy
contemplated by the Districts' service plan shall be utilized for construction and operation of the
conference center. In connection with development of the conference center, Owner shall reserve
space and/or air rights in its development for expansion of the conference center to up to a total of
40,000 square feet; provided, however, that neither Owner nor the Districts shall be obligated under
this Agreement to pay for such expansion of the conference center nor for land costs. At the
Town's request, the twenty mill levy imposed by the Districts for construction and operation of
phase 1 and phase 2 of the conference center shall be imposed by the Districts (after retirement of
debt for phase 1 and phase 2) for purposes of assisting to finance the expansion of the conference
center and to pay operating costs of the expanded conference center. Owner shall use best efforts to
cause the Districts to issue bonds for such expansion but shall not be required to provide credit
8
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enhancement for or purchase such bonds. Owner shall use best efforts to cause the Districts to seek
electoral authorization at a November 1999 election for such bonds.
(e) Affordable Housin -. Owner shall develop deed restricted affordable housing
units (each, an "Affordable Housing Unit ") within the Town, either on or off the Property at a rate
of five Affordable Housing Units for each 50Dwelling Units developed on the Property. As a
condition to issuance by the Town of each 50a' building permit (i.e., 50a' 100', 150x', etc.) for
Dwelling Units on the Property, Owner must establish that it has developed or unconditionally
commits to develop the required number of Affordable Housing Units. The nature and form of the
deed restrictions on such Affordable Housing Units shall be substantially similar to that used in
other affordable housing projects in the Town, and shall be determined by Owner and the Town
prior to issuance by the Town of a building permit for the 50'h Dwelling Unit.
(f) Fee for Fire Station Expansion. Owner or the Districts shall pay to the Town
$160,000 prior to the issuance of the first certificate of occupancy for the Property for expansion of
fire station facilities.
(g) Railroad Crossine. Prior to issuance of any building permit for the Property,
Owner shall grant to the Town an easement for an "at grade" crossing of the existing railroad tracks
at the west end of the Confluence at a location and pursuant to terms reasonably satisfactory to
Owner and the Town. Said easement shall be subject to all matters of record, including without
limitation the railroad right of way. Owner shall have no obligation to make any improvements
related to such easement. Any dispute concerning the size or design of such crossing shall be
resolved by arbitration.
(h) Water and Water Rim.
(i) The Town's augmentation plan decreed in Water Division No. 5 Case
No. 84CW225 allocated 5.52 consumptive acre feet for the development of the Confluence (Avon
Station). The allocated consumptive use was based upon the development of 200 Dwelling Units,
10,000 square feet of commercial area and 1.8 acres irrigated area. The proposed Confluence
development will include up to 200 dwelling units, 800 hotel rooms, 40,000 square feet of
commercial area and a non - specified irrigated area. Depending upon the final development plan,
water requirements for the Confluence are expected to be higher than that allocated in the Town's
augmentation plan. The difference between the 5.52 consumptive acre -feet and the water
requirements for the proposed Confluence development is hereinafter defined as the "Increased
Water Requirements."
(ii) . Owner shall commission a study regarding water consumption and
augmentation requirements related to the maximum development as allowed by the approved PUD
zoning. The study shall determine the Increased Water Requirements of the Confluence. Said
study and projections shall be subject to review and approval by the Town. Upon Town approval of
the water consumption and augmentation study, Owner shall, as a condition of water service for the
Increased Water Requirements, dedicate and convey to the Town sufficient water rights and water
storage rights that can be used in conjunction with the augmentation plan and the storage capacity
presently owned by the Town to make up the amounts needed to serve the Increased Water
L�
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Requirements. Owner shall reimburse the Town's expenses, including reasonable and actual
engineering costs and legal fees, of including such additional water in the Town's augmentation
plan, Any water rights to be dedicated and conveyed to the Town shall be subject to the Town's
approval and acceptance, provided, however, Eagle Park Reservoir water shall be deemed an
acceptable source of dedication water under this Agreement. The Town shall not be required to
store water in or release water from Benchmark Lake to meet any Increased Water Requirements.
Dedication of augmentation water and related water rights shall be completed prior to the issuance
of the first building permit on the Confluence
The Town and Owner agree that the Mall shall be constructed and
maintained by the Districts pursuant to the Districts' service plan
3.6. No Obligation to Develop. Owner shall have no obligation to develop all or any
portion of the Property and shall have no liability to the Town or any other party for its failure to
develop all or any part of the Property. Owner and the Town contemplate that the Property may be
developed in phases. Owner shall have no obligation to develop all or any portion of any such
phase notwithstanding the development or non - development of any other phase, and Owner shall
have no liability to the Town or any other party for its failure to develop all or any portion of any
such phase of the Property.
3.7 Com liance with General Re do 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 endment Development
such
Standards. Owner does not waive its right to oppose
regulations.
3.8 Adb. itratia� 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 that shall be binding upon the parties.
3.9 Owner Obligations, All obligations of Owner in this Agreement may be performed
by the Districts at Owner's election.
ARTICLE IV
PUBLIC FACILITIES
X1.1 Municipal Sergi. The Town shall have the responsibility and obligation to
provide all municipal services, including transit busing, to the Property and other administrative
services equivalent to those provided to any other area of the Town on a uniform and non-
discriminatory basis.
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4.2 Water and Services. The Town shall provide water service to the Property upon
notification of need by Owner as required for the development of the Property. The Town's
obligation to provide water shall survive any disconnection of Confluence pursuant to this
Agreement or otherwise. Water infrastructure /capital facilities which are necessary for the Town
to provide water to the Property shall be provided by Owner and/or one or more Districts which
shall dedicate such improvements to the Town, whereupon the Town shall accept such
improvements for dedication in their then current condition and shall assume maintenance of
such improvements. and facilities. All such improvements shall be constructed to the Town's
normal standards for similar facilities, which standards shall be set forth in the relevant
Subsequent Development Approval relating to the portion of the Property containing such water
improvements. The Town shall charge water tap fees and usage charges to users within the
Property on a uniform, non - discriminatory basis with other users within the Town and shall use
best efforts to require the Upper Eagle Regional Water Authority, or other water service
providing entity to abide by this covenant.
4.3 Sanitation Service. The Property shall receive sanitation service from the
Sanitation District. The Town shall not impose rates, fees, tolls or charges for sanitation services
for the Property.
ARTICLE V
REBATE AGREEMENT
5.1 Allocation of Taxes. In consideration of the performance by Owner of its
obligations under this Agreement, the Town agrees: (a) to account for all Sales Taxes and
Lodging Taxes collected by the Town and attributable to the Property and to Tract B and (b) to
rebate 75% thereof to the Districts within sixty (60) days following the end of the calendar
month when collected (or partial month, if appropriate, in the case of the month in which this
Agreement becomes effective or is terminated). The Town shall maintain a separate "Rebate
Account" into which such taxes shall be deposited until rebated; one for each parking
improvement project located within the Confluence, Tract C, and Tract B, respectively. Said
Rebate Accounts shall be separately accounted for and shall not be used, pledged or otherwise
encumbered except as specifically set forth herein.
As additional consideration of the performance by Owner of its obligations under this
Agreement, the Town further agrees: (a) to account for all Real Estate Transfer Taxes collected
by the Town and attributable to the Property and to Tract B and (b) to rebate 50% thereof to the
Districts within sixty (60) days following the end of the calendar month when collected (or
partial month, if appropriate, in the case of the month in which this Agreement becomes effective
or is terminated). Such taxes shall be deposited into the separate Rebate Accounts as provided
above until rebated. Said Real Estate Transfer Taxes shall be required to be rebated only with
respect to the first sale of each time -share interest in each unit constructed on the Property or
Tract B, and shall not be required with respect to any subsequent resale thereof.
It is the expectation of the parties that a separate series of bonds shall be issued
for each parking improvement project located within the Confluence, Tract C, and Tract B,
respectively. It is also the expectation that the allocation and rebate of taxes from each separate
11
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Rebate Account as provided above be used only for paying the debt service corresponding to the
parking improvements financed and secured by future rebates from each separate respective
Rebate Account. The allocation and rebate of taxes as contemplated in this Section 5.1 shall
continue to be made from each separate Rebate Account until the bonds or other instruments of
indebtedness issued by the Districts and secured by rebates from the separate Rebate Accounts
have been paid in full. However, in no instance shall the Town continue the allocation and
rebate of taxes from each separate Rebate Account beyond fifteen (15) years after the
commencement of deposits in each Rebate Account for each respective bond issue. The Town
shall make all such allocations and deposits unless prevented by court order from so doing. In
the event any action is commenced challenging the right of the Town to make such allocations
and deposits, the Town shall notify Owner and Shapiro in writing of such action prior to the
Town filing its first responsive pleading in such action and shall allow the Districts to participate
in any defense to such action as set forth in Section 2.4 above.
5.2 Limitation on Bonds to be Issued. Financing on behalf of the Districts for each
individual parking improvement project located within the Confluence, Tract C, and Tract B,
respectively, is hereby limited to two- thirds (2/33) of the estimated capital cost of the respective
parking improvement being financed.
5.3 Determination of Amount of Allocated Revenues. The Town shall provide the
Districts a summary of any Sales Tax, Lodging Tax, and Real Estate Transfer Tax collected by
the Town for each month or partial month with respect to the Property and Tract B that supports
the amounts rebated for such month. Such summary shall be provided at the time the rebate is
made.
5.4 Computation of Tax Revenues. Within one hundred twenty (120) days following
the end of the each Town fiscal year, the Town shall deliver to the Districts a final accounting of
all sales taxes, lodging taxes and real estate transfer taxes collected by the Town and attributable
to the Property and to Tract B and the amount rebated to the Districts.
5.5 No Debt or Pecuniary, Liability; No Multiple - Fiscal Year Obligation. All rebate
payments hereunder and any other financial obligation of the Town herein in any year shall be
expressly subject to annual appropriation by the Town; provided, however, that it is the present
expectation of the parties that the Town will make the payments contemplated by this
Agreement. The Town agrees that failure to appropriate sufficient funds in any year to enable
the Town to perform its obligations hereunder shall constitute, at the Districts' election, a failure
of the Town to perform this Agreement and therefore a failure of a condition of annexation of the
Confluence and shall permit the Districts, at its sole election, to disconnect the Confluence as set
forth herein. Such rights shall not impair the Districts' rights set forth elsewhere in this
Agreement. The Town also agrees that failure to appropriate sufficient funds in any year to
enable the Town to perform its obligations hereunder shall also entitle Shapiro to the benefits of
section 5.9 hereof. None of the obligations of the Town hereunder to the Districts shall be
payable from any source other than as provided in Section 5. 1, and this Agreement shall never
constitute a debt, indebtedness or multiple - fiscal year financial obligation of the Town within the
meaning of the Constitution or laws of the State of Colorado.
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5.6 Budget and Appropriation of Payments. The Town's finance director shall
include in the budget proposals submitted to the Town Council in each year prior to termination
of this Agreement, amounts sufficient to meet the obligation of the Town hereunder to the extent
the Town shall have received such amounts, or anticipates receiving such amounts from Sales
Taxes, Lodging Taxes or Real Estate Transfer Taxes. The Town hereby represents that it
presently intends to appropriate the amounts under this Agreement to the fullest extent permitted
by law. If, based upon an opinion of independent counsel not previously or at the time such
opinion is delivered representing the Districts and acceptable to the Town, it is determined that
the activities under this Agreement shall be determined an "enterprise" of the Town for purposes
of Article X, Section 20 of the Colorado Constitution, or that transactions of a nature similar to
the transactions provided for in this Agreement are not required under the laws of the State of
Colorado to be subject to annual appropriation without regard to approval of any such
transactions by the electors of the Town, this Agreement shall be reformed so as to delete the
annual appropriation provision of Section 5.4 and as elsewhere found in this Agreement.
5.7 Subsequent Changes in Tax Rates. In the event that. the Town reduces the Sales
Tax, Lodging Tax, or Real Estate Transfer Tax rate applicable to taxable activities on the
Property and Tract B, the calculation of the rebate percentage for rebates due to the Districts
shall be recalculated so that the Districts shall receive rebates throughout the term of this
agreement as if no change in tax rates had occurred.
In the event the Town increases the Sales Tax, Lodging Tax, or Real Estate Transfer Tax
pursuant to an election and the incremental increase in the tax rate is earmarked for a special
purpose pursuant to the ballot question that is passed by the voters, such addition taxes resulting
from the tax increase and collected by the Town applicable to the Property and Tract B shall not
be subject to allocation and rebate by the Town to the Districts.
5.8 Books and Records. Both the Town and the Districts shall maintain adequate
books and records to accurately perform and account for their respective obligations under this
Agreement. Town and District representatives shall be granted reasonable access during normal
business hours to such books and records in order to determine compliance with the terms of this
Agreement or the accuracy of such books and records. The parties shall use their best efforts to
resolve any issues, discrepancies, or inaccuracies discovered in any review of either parties'
books and records.
5.9 Tax Credits.
(a) In the event the Town is prevented by binding court order from paying
rebates with respect to the Property or otherwise fails to appropriate, Owner shall have the option
of disconnecting the Confluence from the Town as contemplated herein. In the event Owner
determines not to disconnect the Confluence, or if the Town contests or otherwise fails to assure
said disconnection in any way, the provisions of Section 5.8(b) hereof shall be immediately
binding upon the Town. In the event the Town is prevented by binding court order from paying
rebates with respect to Tract B, or otherwise fails to appropriate, the provisions of Section 5.8(b)
hereof shall be immediately binding upon the Town.
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(b) Each taxpayer liable for Sales Tax, Lodging Tax or Real Estate Transfer
Tax on taxable transactions within the Property or Tract B shall receive a credit against such
taxes in each year equal to the total amount of the rebate which would otherwise have been due
from the Town. The Town shall notify all persons who would typically collect such taxes from a
taxpayer that taxes shall not be due from such taxpayer in an amount equal to fees paid by such
taxpayer. Such credit shall be automatic and shall take effect immediately without being claimed
on taxpayer's return relating to the applicable tax and without any requirement of approval or
other action by the Town, but the transactions and payments supporting the credit for any given
year shall nevertheless be subject to audit to the same extent, for the same limitations periods and
in the same manner as the items*hich are required to be reported on the taxpayer's return
relating to the applicable tax. The Town's agreement to grant such credit shall not be considered
a multiple fiscal year financial obligation of any kind.
The credits contemplated in this Section shall continue until bonds or other instruments
of indebtedness issued by the Districts or other eligible non - profit corporations acting on behalf
of the Districts which are paid by the fees received from such taxpayers have been paid in full
and notice thereof has been delivered to the Town. It is the expectation of the parties that a
separate series of bonds shall be issued for Confluence parking improvements, Tract C parking
improvements and Tract B parking improvements. The Town shall grant such credits unless
prevented by court order from so doing. In the event any action is commenced challenging the
right of the Town to grant such credits, the Town shall notify Owner and Shapiro in writing of
such action prior to the Town filing its first responsive pleading in such action and shall allow
the Owner and/or Shapiro to participate in any defense to such action as set forth in Section 2.4
above. The Town agrees that it shall take no action to prevent, and shall not fail to take any
action necessary to allow, Owner and/or Shapiro, or corporations they organize, from imposing
and/or collecting fees as contemplated herein.
5.10 Legal Challenge to Tax Agreement.. In the event any agreement contained herein
regarding taxes is ever the subject of a successful legal challenge, the Town shall diligently resist
such challenges in cooperation with the Owner as set forth in Section 2.4 above. If such
challenges are successful in any material way, the Town shall undertake such curative actions as
are necessary to attempt to fully restore the benefits of this Agreement to each of the parties.
5.11 Town Deposits. The Town may make other deposits from any other taxes or
funds of its own to the rebate accounts
5.12 Town Expenses. Upon receipt of an invoice from the Town, the Districts shall
pay the reasonable expenses of the Town for calculating and administering the rebates hereunder.
ARTICLE VI
SPECIAL DISTRICTS
6.1 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
14
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out the purposes of this agreement and the amended service plan. The Mall shall be included in
the Districts at the request of the Town. In addition, properties known as Avon Town Square,
Lot 61, and other properties maybe included in the Districts upon reasonable terms and
conditions.
6.2 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.
ARTICLE VII
DEFAULTS, REMEDIES, AND TERMINATION
7.1 Default by Town. A "breach" or "default" by the Town under this Agreement
shall be defined as: (a) any zoning, land use or other action or inaction, direct, indirect or
pursuant to an initiated measure, taken without Owner's consent, that materially alters, impairs,
prevents, diminishes, imposes a moratorium on development, delays or otherwise materially and
adversely affects any development, use or other rights of Owner under this Agreement or the
Development Standards or PUDs; or (b) the Town's failure to fulfill or perform any material
obligation of the Town contained in this Agreement.
7.2 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.
7.3 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 time period actively and diligently pursuing
such cure.
7.4 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
15
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10/27/98
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 24-
68- 105(1)(c) as in effect on the Effective Date, plus any other and additional damages
provable at law; and
(ii) cause the Confluence, or any portion thereof designated by Owner,
to be disconnected from the Town.
7.5 Disconnection. The Town acknowledges that Owner has agreed to develop the
Confluence at significantly lower density than Owner originally desired in consideration of the
Town's agreement to rebate taxes as set forth herein, and that failure of the Town to appropriate
revenues sufficient to pay the rebates contemplated herein will substantially impair the value of
the Confluence. Accordingly, in the event the Town exercises its discretion in any year and
determines not to make sufficient budget appropriations to pay such rebates, fails to make any
other appropriations which may be required by law to enable the Town to perform this
Agreement in all respects, if the Town contests disconnection or otherwise acts (or fails to act) in
any way to avoid disconnection, if the Town is prevented by appropriate judicial order from
making such appropriations, or if any other event occurs to cause rebates not to be paid as
contemplated hereinOwner shall have the immediate and continuing right, at its election, to
disconnect the Confluence from the Town it being the express agreement of the parties hereto
that any such act, at the sole election of Owner, shall be deemed to be a failure of the Town to
meet a condition of annexation of the Confluence and/or a failure to serve the Confluence in the
manner agreed herein, and shall entitle Owner to the immediate disconnection of the
Confluence notwithstanding . any statutory procedure or requirement for disconnection by
petition. In furtherance of said agreement, the Town represents that as a home rule municipality
this contractual right of disconnection shall be in addition to any statutory right or procedure for
disconnection which may exist under law which shall not be deemed exclusive rights and
procedures.
The Town agrees in such event that it will take all necessary steps to accomplish such
disconnection and shall not contest any disconnection effort by Owner. The Town shall
cooperate in all respects to accomplish such disconnection whether under the agreements set
forth herein or under any applicable statutory disconnection procedure, which a court may
require. Said disconnection shall not affect any development rights concerning the Confluence
which are vested under common law vesting principles or which are vested pursuant to this
Agreement. In the event the Town breaches this Agreement by failing to pay rebates, credit
taxes or amend its Municipal Code as agreed in Article V hereof, Owner shall have all rights of
disconnection set forth herein.
1[-1
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ARTICLE VIII
MISCELLANEOUS
8.1 Applicable Law. Agreement shall be construed and enforced in accordance with
the laws of the State of Colorado.
8.2 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.
8.3 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.
8.4 Waiver. No waiver of one or more of the terms of this Agreement shall constitute
a waiver of other terms. No waiver of any provision of this Agreement in any instance shall
constitute a waiver of such provision in other instances.
8.5 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 PUDs, Development Standards, and vesting agreements
contained herein are consistent with the Comprehensive Plan, Municipal Code, and other
applicable regulations and policies of the Town.
8.6 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 are being enforced
under the facts and circumstances then pertaining.
8.7 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.
8.8 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 after 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
17
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10/27/98
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:
If to Town: Town of Avon
P.O. Box 975
Avon, Colorado 81620
Attention: Town Manager
If to Owner: Vail Associates Investments, Inc.
c/o James S. Mandel, Esq.
P.O. Box 7
Vail, Colorado 81658
Attn: Legal Department
Attn: James P. Thompson
With a Copy to: Sheldon & Gordon, P.C.
4582 South Ulster Street Parkway, Suite 902
Denver, Colorado 80237
Attn: Michael A. Sheldon, Esq.
and to:
White and Associates Professional Corporation
8005 S. Chester Street, Suite 125
Englewood, Colorado 80112
Attention: Gary R. White, Esq.
If to Shapiro: Avon Commercial Center Ltd., a Colorado limited partnership,
Shapiro Development Co., general partner
c/o Shapiro Development Co.
P.O. Box 5640
Avon, CO 81620
Attn: Ken Shapiro
8.9 Assi ng, ment. 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
18
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10/27/98
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.
8.10 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.
8.11 Amendments and Waivers. No amendment or waiver of any provision of this
Agreement, nor consent to any departure herefrom, shall in any event be effective 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.
STATE OF COLORADO )
ss.
COUNTY OF )
TOWN:
TOWN OF AVON, a municipal corporation of
the State of Colorado
By: Ia
h
�ayd-
Subscribed before me this � day of 1998, by
� L emu, as Mayor of Town of Avon, Colorado and
as Town Clerk of Avon.
My commission expires:
Vsy Commission Expires 09128002
Notary blic
19
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10/27/98
OWNER:
VAIL ASSOCIATES INVESTMENTS, INC., a
Colorado limited liability company
STATE OF COLORADO )
) ss.
COUNTY OF )
�- Sub ribe before me this da of 1998, by
�,()6M as +6Y i (.f �Jl��n vl f' of Vail Associates
Investments, Inc. and OVIa as of
Vail Associates Investments, Inc. 11
My commission expires:
Notary Public
01.E AD
G•�o
OF ro' O
Mkl (' .. -- rr11
20
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10/27/98
Avon Commercial Center Ltd., a Colorado limited
partnership, Shapiro Development Co., general
partner
ATTEST
STATE OF COLORADO )
) ss.
COUNTY OF �� )
Subscribed before me this cM day of 1998, by
S tuoA 'So cr\e as V'ce PV e S,d + of
Shan;ro 'J-P.v-k 10 p n1 eve CO • and Kd'v' e n 'R a yKo n as
SeCcCb.e'4 of ShQ3�r0 °�e11�1 pprner►�CO
My commission expires
VAINC\AGRnGRW 10081001980
244.2036
21
Final
10/27/98
Exhibit A -1
The Confluence Legal Description
A parcel of land located in the south '/2 of the northwest'/ of Section 12, Township 5 South, Range 82 West of the Sixth
Principal Meridian, Eagle County, Colorado, being more particularly described as follows:
Beginning at a point on the southerly right -of -way line of the Denver & Rio Grande Western Rail Road and the westerly
right -of -way line of Avon Road, from which the Center 'A corner of Section I2 bears S 04 °18'06" E, 612.39 feet; thence
along the southerly railroad right -of -way N 651123127" W, 1729.75 feet to the southeasterly most comer of Tract H,
Benchmark at Beaver Creek Subdivision, Amendment Number 4, as recorded in book 274 at page 701; thence departing
the southerly right -of -way line and along the southerly line of Tract H N 89 °32'01" W, 397.29 feet to a point on the
easterly line of Beaver Creek Subdivision, Tracts O and P, as recorded in Book 656 at page 662, said line being also the
approximate centerline of the Eagle River, thence along the easterly line the following ten (10) courses:
1) S 49. 08155" E, 132.70 feet, 2) S 57 °22'26" E, 341.00 feet,
3) S 49 °50'33" E, 455.67 feet, 4) S 47 047'00" E. 293.81 feet,
5) S 43 °40'09" E, 152.41 feet, 6) S 50 °10'13" E, 154.96 feet,
7) S 53 042'45" E, 187.29 feet, 8) S 81'26'34- E, 214.88 feet,
9) N 86 °00'59 - E, I62.21 feet, 10) N 86 °36'05" I3, 197.35 feet to a point on the westerly right -of -way line of Avon
Road; thence along the westerly right -of -way line the following four (4) courses: 1) N 12 005'08" E, 120.18 feet, 2) N
12 007'30" E, 86.00 feet, 3) N 21017'14" E,.52.00 feet, 4) N 04029'54" E, 119.79 feet to the Point of Beginning.
Parcel contains 18.886 acres.
Final
10/27/98
Exhibit A -2
23
Lot C Legal Description
A parcel of land described as Lot C. Avon Center at Beaver Creek, Benchmark at Beaver Creek, Amendment No. 4,
Town of Avon, Eagle County, Colorado, being more particular described as follows:
Beginning at the easternmost corner of Lot C, also being the northernmost comer of Lot B; thence along the line
common to Lots B and C, S520 41'02 "W, 397.57 feet; thence departing said common lot line, N65° 58'08'W, 22.72
feet; thence NO2° 30'12"W, 576.33 feet to a point on the southerly right -of -way of Benchmark Road; thence along said
right -of -way N59° 20'02 "E, 160.00 feet to a point on the westerly right -of -way of Beaver Creek Boulevard thence along
said right -of -way S27° 05'23 "E, 400.62 feet; thence continuing along said right -of -way along the arc of a tangent curve
to the left 80.83 feet, having a radius of 540.00 feet, a central angle of 08° 34'36" and a chord which bears S3 V
22'41 "E, 80.76 feet to the Point of Beginning.
Parcel contains 3.24 acres.
Final
10/27/98
Exhibit A -3
24
EXHIBIT A -3
LEGAL DESCRIPTION: Lot B, Avon Center at Beaver Creek
The point of beginning being the southwest corner of Lot B, Avon Center;
thence N.52'41'01 "E., a distance of 397.57 feet to a point on a curve to the
right, said curve having a radius of 450.00 feet; thence along said curve a
distance of 187.14 feet through a central angle of 19'51'21", having a
chord bearing and distance of S.45'35'39 "E., 186.20 feet; thence
S.62'54'37 "W., a distance of 15.00 feet; thence S.27'05'23 "E., a distance
of 12.03 feet; thence S.62'54'37 "W., a distance of 137,49 feet; thence
S.27'07'37 "E., a distance of 65.53 feet; thence S.62'52'23 "W., a distance
of 55.96 feet; thence S.27'05'23 "E., a distance of 61.17 feet; thence
S.62'54'27 "W., a distance of 12.10 feet; thence S.27'05'23 "E., a distance
of 40.05 feet; thence N.65'58'08 "W., a distance of 366.19 feet to the True
Point of Beginning.
Said parcel of land contains 75,617 square feet (1.735 acres ), more or less.
Final
10/27/98
Exhibit B
25
FINAL 9 -11 -98
ANNEXATION AGREEMENT
THIS ANNEXATION AGREEMENT is made and entered into this _2 day of
August , 1998, by and between VAIL ASSOCIATES INVESTMENTS, INC.,
a Colorado corporation hereinafter referred to as "the ANNEXEE ", and the TOWN OF AVON,
COLORADO, a municipal corporation, hereinafter referred to as "the TOWN."
WITNESSETH:
WHEREAS, the ANNEXEE is the owner of the property described in Exhibit A, attached
hereto (the "Property"), and has filed a petition to annex said property to the TOWN; and
WHEREAS, various issues remain to be resolved in connection with the anticipated use
of the Property; and
WHEREAS, the ANNEXEE desires to form two metropolitan districts to serve the
permitted uses on the Property and must hold organizational and bond elections in November,
1998 (the "Election ") in order to permit such districts to be formed to serve the Property; and
WHEREAS, the TOWN and the ANNEXEE desire to conditionally annex the property to
the TOWN without concurrent zoning so the districts can be approved in time to permit the
Election to occur while also allowing the negotiating process to continue to resolve outstanding
land use and other issues while fully reserving to the parties the power and authority to
disconnect the Property as set forth herein if such issues cannot be resolved to the mutual
satisfaction of the parties; and
WHEREAS, the parties mutually agree that the conditional annexation of the Property to
the TOWN shall not create any additional cost or impose additional burden on the existing
residents of the TOWN to provide public facilities and services to the Property after annexation
nor shall it create any obligation of any kind on the parties except as specifically set forth herein
or in the Development Agreement contemplated herein; and
WHEREAS, the parties intend, after annexation of the Property, to negotiate in good faith
to complete a development agreement setting forth in detail their respective duties, obligations
and rights with respect to the Property (which agreement shall be referred to herein as the
"Development Agreement ").
In consideration of the foregoing premises and the covenants, promises, and agreements
of each of the parties hereto to be kept and performed by each of them, IT IS AGREED:
111111 11111 1111111 IIIII IIII IIII 1111111 III IIIII VII IIA
677379 11/23/1998 04:19P 27 Sara Fisher
gl�l
L INTENTION OF THE PARTIES
1. It is the express intention of the parties hereto, and the express intent by which
this Agreement shall be interpreted and the rights of the parties determined in all cases, that the
TOWN shall conditionally annex the Property without granting any zoning of any kind at the
time of annexation, and that the TOWN shall consider the approval of service plans for special
districts which may ultimately serve the Property in sufficient time to permit the Election to
occur, but only on condition that the parties enter into good faith negotiations to attempt to
complete a Development Agreement as contemplated below, and that if such Development
Agreement is not completed to the mutual satisfaction of the parties by October 31,1998, the
Property shall be disconnected from the TOWN unless said date is extended by mutual written
agreement. To that end, the parties specifically agree that the annexation of the Property by the
TOWN as a conditional annexation, the approval of service plans for districts by the TOWN, and
the entering into good faith negotiations to complete a Development Agreement shall not
obligate the parties to execute any agreement, grant any zoning, or permit any use on the
Property except as is voluntarily agreed by the Parties.
2. In the event the right of disconnection arises as contemplated herein, either party
without consent of the other shall be entitled to seek such court orders as may be necessary to
give effect to this Agreement disconnecting or confirming the disconnection of the Property from
the TOWN. Such disconnection may be by Town ordinance or order to be obtained from the
court vested with legal jurisdiction. Each party agrees that it will not contest any such effort by
the other party and will provide reasonable assistance to the other party to achieve such
disconnection by November 30, 1998 unless said date is extended by mutual written agreement.
In such event, this provision shall be deemed a request, application and petition by ANNEXEE
and agreement by the Town to have the TOWN or the district court order or confirm the Property
disconnected from the Town.
IL DEVELOPMENT AGREEMENT
1. The Development Agreement shall at a minimum address the following matters to
the satisfaction of the parties:
- tax rebates
- land uses and zoning
- special districts
- development entitlements
- conference center
- traffic impacts
2. The foregoing is not intended to be an exclusive list of issues to be addressed by
the parties. Matters may be added to or deleted from said list at will of the parties; provided,
however, that if a Development Agreement is not completed to the mutual satisfaction of the
parties hereto, the remedies herein may be fully exercised by either or both parties.
11111H 1111111111111111111111111111111111111111111 IN
III. ZONING, DEVELOPMENT AGREEMENT AND DESIGN
1. Immediately after annexation of the Property is complete, the ANNEXEE and the
TOWN shall commence negotiations toward the completion and execution of the Development
Agreement described herein, and the ANNEXEE shall submit an application for zoning of the
Property substantially as set forth in a "Land Use Plan" to be developed in conjunction with the
Development Agreement. There shall be no statutory, constitutional, nor other obligation of the
TOWN to zone the Property except as such matters are contemplated in the Development
Agreement and zoning application filed consistent therewith.
2. In the event that prior to November 1, 1998 (1) the TOWN and the ANNEXEE
are unable, despite their good faith efforts, to reach agreement on the terms and conditions of the
Development Agreement, or (2) the TOWN does not adopt the appropriate ordinance adopting
zoning for the Property substantially as set forth in the Land Use Plan or otherwise satisfactory to
the ANNEXEE, or (3) if such zoning is adopted by the TOWN but is invalidated by referendum
or other lawsuit, then, in any such event and upon notice by one party to the other of such event,
the Property shall be immediately disconnected from the TOWN, and the parties shall
immediately take all action necessary to cause such disconnection.
IV. SPECIAL DISTRICTS
1. Immediately upon execution of this Agreement, the ANNEXEE shall be
permitted to file" service plans for two special districts to serve the Property which shall contain
the information required by law for the TOWN to adopt a resolution of approval thereof. The
TOWN shall act in good faith and expeditiously to consider the adoption of a resolution of
approval not later than September 22, 1998 in order to permit the Election to occur on November
3, 1998. If resolutions of approval are not obtained, all negotiations regarding the Development
Agreement may cease, but such negotiations shall not be required to cease. The ANNEXEE
agrees that any special districts established within the Property shall neither levy, charge, or
collect taxes, issue debt, nor shall such districts apply for or request Colorado Conservation
Trust Funds as supplemented by the state lottery until a Development Agreement is executed.
2. In the event special districts are organized, the ANNEXEE shall not have any
right to use such districts for any reason until a Development Agreement is executed and an
amended service plan is approved if required by the TOWN. If a Development Agreement is not
executed as contemplated herein, the districts shall be dissolved immediately. The provisions of
this Article shall be incorporated in the initial service plans for such districts as conditions of
service plan approval.
1111111111111111111111111111111 Ell 111111111111111111111111111 IN
677379 11/23/1998 M ISP 27 Sara Fisher
3 of 8 R 41.00 D 0.00 N 0.00 Eagle CO
V. GENERAL PROVISIONS
1. This Agreement shall be recorded with the Clerk and Recorder in Eagle County,
Colorado, and shall run with the Property, and shall be binding upon and inure to the benefit of
the heirs, successors, and assigns of the parties hereto. Every part of the Property shall at all
times remain subject to all the obligations of this Agreement with respect to each part of the
Property.
2. Nothing contained in this Agreement shall constitute or be interpreted as a repeal
of existing codes or ordinances or as a waiver or abrogation of the TOWN's legislative,
governmental, or police powers to promote and protect the health, safety, or general welfare of
the TOWN or its inhabitants; nor shall this agreement prohibit the enactment by the TOWN of
any fee which is of uniform or general application.
3. If the annexation or zoning of the Property or any portion thereof is challenged by
a referendum or initiative, all provisions of this Agreement, together with the duties and
obligations of each party, shall be suspended pending the outcome of the referendum election. If
the referendum challenge to the annexation results in disconnection of the Property from the
TOWN, then this Agreement and all provisions contained herein shall be null and void and of no
further effect. If the referendum challenge fails, then the ANNEXEE and the TOWN shall
continue to be bound by all terms and provisions of this Agreement.
4. In the event that the annexation of the Property or any portion thereof is voided by
final action of any court, such action being associated with a referendum. or initiated action, the
TOWN and the ANNEXEE shall cooperate to cure the legal defect which resulted in
disconnection of the Property or zoning challenge, and upon such cure this Annexation
Agreement shall be deemed to be an agreement to annex the Property to the TOWN pursuant to
Section 31 -12 -121 of the Colorado Revised Statutes. The ANNEXEE may reapply for
annexation as when the'Property becomes eligible for annexation as determined by the TOWN.
5. It is understood and agreed by the parties hereto that if any part, term, or
provision of this Agreement is by the courts held to be illegal or in conflict with the constitution
or any law of the State of Colorado or the United States, the validity of the remaining portions or
provisions shall not be affected and the rights and obligations of the parties shall be construed
and enforced as if the agreement did not contain the particular part, term, or provision held to be
invalid. Notwithstanding the foregoing, if the ANNEXEE'S right to disconnect contained in
Article III.2., or the TOWN's discretion over terms of the Development Agreement provided in
Article II is determined to be illegal, unenforceable or in conflict with any applicable law, then
this Agreement in its entirety shall be immediately void and of no further force or effect as to the
Property and the TOWN shall take such action as is necessary to cause or confirm the
disconnection of the Property, it being deemed that a condition of approval of the annexation
ordinance has not been met.
6. This Agreement, the attached exhibits and the Development Agreement embody
the whole agreement of the parties. There are no promises, terms, conditions, or obligations
other than those contained herein; and this Agreement shall supersede all previous
1111111 III 111111111111111111111111111111111111111 IN
677379 11/23/1998 04:19P 27 Sara Fisher
communications, representations, or agreements, either verbal or written, between the parties
hereto. Except as provided in this Agreement, there shall be no modification of this Agreement
except in writing, executed with the same formalities as this instrument. Subject to the
conditions precedent therein, this agreement may be enforced in any court of competent
jurisdiction.
7. This agreement shall terminate and expire thirty (30) years from the date of
execution hereof. Thereafter, so long as the Property is located within the municipal boundaries
of the TOWN, it shall continue to be subject to the charter, ordinances, and rules and regulations
of the TOWN.
8. Under the Development Agreement, the ANNEXEE may be required to dedicate
certain portions of the Property for public use and/or convey certain portions of the Property to
the TOWN. All such dedicated or conveyed real property shall be dedicated for the perpetual
use and benefit of the public by the dedication language of the relevant subdivision plat or shall
be conveyed to the TOWN by general warrant deed free and clear of mortgages, deeds of trust,
and other liens of whatever sort, and be free and clear of other restrictions, reservations,
exceptions, covenants, easements, rights -of -way, and other encumbrances (except easements of
record), and other encumbrances or natural conditions, except for those to which the TOWN had
no reasonable objection in light of the intended use of the site, at no monetary cost to the TOWN.
IN WITNESS WHEREOF, the parties hereto have executed this agreement the day and
year first above written.
The ANNEXEE:
Vail Associates Investments, Inc., a
Colorado corporation
By:
. r (Nam and title)
.A 7- OP' COLORADO )
) ss.
fDI3 WTYcAF eA L� )
l'^ 1998 b
ol,subscribed before me this Z 3 �D day of �7z� ��e Y
as -5R. V, P of Vail Associates Investments,
Inc.
My com ' sion expires:
No is
IIII
II IIIII IIIIIII IIIII IIII ��'� IIIIIII III I'I'I 11111111
5
2773 of7a R141.009D 0.00 1 N a.00 Eagle CO
l�
The TOWN:
TOWN OF AVON, COLORADO
A municipal corporation of the Eagle
County, State of Colorado
By: q 4. 1 L
(N a and title) Mayor
STATE OF COLORADO )
) ss.
COUNTY OF Eagle )
h
Subscribed before me this day of 0dobt'l , 1998, by
_--! L� a 1AJC q J-f as Nktiro r _ of Town of Avon, Colorado.
Niy commission expireNY Commission Expires 0912612 002
Notary Public
VAWC\AGRTUMC1344081098
0244.2033
111111111111111111111111111111111111111111 nisi 1111 IN
677379 11/23/1998 04:19P 27 Sara Fisher
EXHIBIT A
LEGAL DESCRIPTION
111111 Hill 111111111111111111111111111111111111N IN
677379 11/23/1998 04:19r 27 Sara Fisher
7 of 8 R 41.00 D 0.00 N 0.00 Eagle CO
EXHIBIT A
1.
LANG DESCRIPTION
A parcel of land located In the south 1/2 of the northwest 1/4 of
54.70 feet
Section 12, Township 5 South, Range 82 West of the Sixth Principal
S43' 13' WA
Meridian, Eagle County, Colorado, being more particularly described as
S
follows:
Q
Beginning at a point on the southerly right -of -way line of the Denver dt
3
Rio Grande Western Rail Road and the westerly right -of -way line of Avon
5.
Rood, from which the Center 1/4 corner of Section 12 boors
120.18 feet
S 04'18'08" E. 61239 feet: thence along the southeriy railroad rignt-
N12' 07' 300E,
of -way N 65'23'27" W, 1729.75 feet to the southeasterly most corner of
7.
Tract H, Benchmark at Beaver Creek Subdivision, Amendment Number 4, as
52.00 feet
recorded in Book 274 at page 701. thence departing the southerly right
h-
t.�
of-wcy line and along the southerly line of Tract H N 89132'01" W.
;
397.29 feet to a point on the easterly line of Seaver Creek Subdivision,
Tracts 0 and P, as recorded in Book 656 at page 662, said line being
'L d
ciao the approximote centerline of the Eagle River; thence along the
easterly line the following ten (10) courses:
.42
1� S 48'08'55' E. 132.70 feet, 2) S 57'22'26' E, 341.00 feet,
-''
3 S 49'50'33' E. 455.67 feet, 4) S 4747'00" E. 293.81 feet,
5 S 43'40'09' E. 152.41 feet. 6) S 50'10'13' E. 154.96 feet,
7 S 53'42'45' E. 187.29 feet, 8) S 81'26'34" E. 214.88 feet,
ws
9 N 88'00'59" E. 162.21 feet. 10) N 86'36'05' E. 197.35 feet to a point on
the westerly right -of -way line of Avon Road; thence olonj the westerly
right -of -way line the following Sour (4) courses' 1) N 12 05'08' E,
120.18 feet. 2) N 12'07'30' E. 86.00 feet; 3) N 2f'17'14" E. 52.00
feet, 4) N 04'29'54" E. 119.79 feet to the Point of Beginning.
Parcel Contains 18.886 acres.
Together with three (3) parcels of land known as TK -10 -A, TK -10 and
Northwest 1/4 of
PE -10 also being located in the South 1/2 of the
Section 12, Township 5 South, Range 82 West of the Sixth Principal
Meridian, Eagle County, Colorado, the exterior boundary of these
combined parcels being more particularly described as 1`0I1OW9:
Beginning at the Northeast corner of the Confluence from which the
center 1/4 of Section 12 bears SO4' 18' O E, 612.39 feet; thence
along the southerly right -of -way line of the Denver and Rio Grande
Western Railroad S 65' 23 27"E, 33.06 feet; thence departing said
of o non- tongent curve to the right.
railroad right -of -way along the are
161.21 feet, having a radius of 1095.20 feet. o central angle of 09' 28'
26" and o chard which bears SOB' 28' 48 'W, 181.00 feet; thence the
following seven (7) courses:
1.
$11' 13' 03 "W,
54.70 feet
2.
S43' 13' WA
37.70 foot
3.
S10' 05' 03 "W,
94.50 feet
4.
S66' 36' 05'W,
28.16 feet
5.
N12' 05' C1 "E,
120.18 feet
6.
N12' 07' 300E,
86.00 feet
7.
N21' 17' 14 "E,
52.00 feet
thence NOW 29' 54 "E. 119.79 feet to the Point of Beginning.
Parcel contains 0.28 acres more or iesl.
11,1111111111111111111111111111111111111111111111111 IIII
677379 11/23/1998 04:19P 27 Sara Fisher
8 of 8 R 41.00 D 0.00 N 0.00 Eagle CO
Final
10/27/98
Exhibit C -1
26
Confluence PUD Revised Submittal No.3
October 27, 1998
SECTION 11: Zoning Review: Title 17
I DEVELOPMENT S'T'ANDARDS:
A. Intention:
This development is intended to complement the adjacent town center developments, future
developments and expansions and to provide a variety of uses on the Confluence such as lodges,
commercial establishments and offices in a predominantly pedestrian environment. These
development standards are intended to provide a development which distinguishes this development
from other areas within the Town.
B. Allowed Uses:
The following uses shall be permitted in this Confluence development and those designated with a
■ shall also be allowed at plaza / ground level, those uses not designated with a ■ shall not be
permitted at plaza / ground level. Commercial uses designated with a 0 shall be permitted to a
maximum of 40,000 SF GLFA.
1. ■ O Retail Stores;
2. ■ O Specialty Shops;
3. ■ O Restaurants, excluding drive - through windows;
4. ■ O Cocktail Lounges;
5. ■ O Personal service shops;
6. ■ 0 Professional offices;
7. ■ Hotels;
8. ■ Lodges;
9. Apartments;
10. Condominiums;
11. ■ Indoor recreation
12. ■ 0 Financial Institutions;
13. Bed and breakfast lodge;
14. Time - share, interval ownership, and fractional fee ownership projects;.
15. ■ Intercept / day -skier parking;
16. ■ O Entertainment Facilities
17. ■ Additional uses determined to be similar to allowed uses in accordance with the intent of
this zone district, to be approved by the zoning admininistrator.
C. Special Review Uses:
1. Public Transportation facilities;
2. Public parking facilities except for intercept / day -skier parking provided at initial development
phase.
3. Theatres;
4. Conference / Convention Facilities;
5. Aboveground public utility installations;
6. Churches;
7. Drive - through windows.
Confluence PUD Revised Submittal No.3
October 27, 1998
Page 2 of 2
D. Development Standards:
1. Lot Area: 18.886 Acres (Not to be affected by future condominium and/or
subdivision platting]
2. )Building Height: No building or portion thereof may extend above a plane 10 feet
below that projected horizontally from the top of the Avon Center
Building, and in no case shall any building be taller than 120 feet,
measuring said height as defined in Title 17 of the Avon Municipal
Code. Specific buildings will provide for appropriate view corridors
from town core areas.
3. Building Setbacks: See Building Setback Diagram — Exhibit N (Revised 10/9/98)
A. Riverfront: Seventy Five Feet [75'] from the mean annual high water mark. If the
100 year flood plain or identified wetlands exceed the 75' setback
those exceptions will constitute the designated setback.
B. Side [East]: Twenty Feet [20]
C. Rear [North]: Ten Feet [10']
Zero Feet [0'] for structures pertaining to transportation systems and /
or buildings or pedestrian linkages. Non - habitable porte- cochere, low
level roof structures covering open air pedestrian ways and awnings
relating to commercial uses may encroach into setback.
4. Maximum Site Coverage: Seventy per cent [70 %]
5. Maximum Density: 456 Dwelling Units which equates to 30 Dwelling Units per acre
of buildable area.
(3 hotel rooms or Accommodation Units = 1 Dwelling Unit)
6. Parking:
A. Commercial:
Five spaces per thousand square feet gross leasable floor area [GLI;A] applied to a full range
of commercial uses [allowed in `Town Center' zoning such as retail, restaurant, and / or
office] excluding parking requirements for incidental guest oriented commercial uses within
hotels.
B. Residential/Lodging:
1. Hotel: 1.0 parking space per room
(Including parking requirements for incidental guest oriented commercial uses within
hotel)
2. Timeshare / Interval Ownership Units: 0.6 parking spaces per bedroom
3. Dwelling Unit: 2.0 parking spaces per unit up to
two [2] bedrooms plus,
0.5 parking spaces per additional bedroom.
4. Deed Restricted Employee Housing: 0.5 parking spaces per bedroom
C. No additional guest spaces shall be required. All surface and below trade parking spaces
shall be counted toward meeting these requirements.
Final
10/27/98
Exhibit C -2
27
Lot C PUD Revised Submittal
October 27, 1998
SECTION H: Zoning Review: Title 17
I DEVELOPMENT STANDARDS:
A. Intention:
This development is intended to complement the surrounding town center developments, future
developments and expansions and to provide a variety of uses on Lot C such as lodges, commercial
establishments and offices in a predominantly pedestrian environment. These development
standards are intended to provide a development which distinguishes this development from other
zone districts within the Town.
B. Allowed Uses:
The following uses shall be permitted in this Lot C development and those designated with a ■
shall also be allowed at plaza / ground level, those uses not designated with a ■ shall not be
permitted at plaza / ground level:
1. ■ Retail Stores;
2. ■ Specialty Shops;
3. ■ Restaurants, excluding drive - through windows;
4. ■ Cocktail Lounges;
5. ■ Personal service shops;
6. ■ Professional offices;
7. ■ Hotels;
8. ■ Lodges;
9. Apartments;
10. Condominiums;
11. ■ Indoor recreation and/or entertainment facilities;
12. ■ Financial Institutions;
13. Bed and breakfast lodge;
14. Time - share, interval ownership, and fractional fee ownership projects; and,
15. ■ Additional uses determined to be similar to allowed uses in accordance with the intent of
this zone district, to be approved by the zoning administrator.
C. Special Review Uses:
1. Public Transportation facilities;
2. Public parking facilities;
3. Theatres;
4. Conference / Convention Facilities;
5. Churches;
5. Aboveground public utility installations; and,
6. Drive - through windows.
Lot C PUD Revised Submittal
October 27, 1998
Page 2 of 2
D. Development Standards:
1. Lot Area: 3.24 Acres (Subject to future condominium and/or subdivision
platting]
2. Building Height: Subject to a Building Height equal to the Avon Center Building
3. Building Setbacks: Height subject to verification by a licensed professional surveyor.
A. Front [North]: 'West Beaver Creek Boulevard - Twenty Feet [20']
Front (West]: Benchmark Road — Twenty Feet [20']
B. Side [East]: Lot `B' Ten Feet [10]
Side [West]: Benchmark Road — Ten Feet [10']
C. Rear (South]: The Town of Avon Mall - Ten Feet [10']
(Non - habitable porte - cochere, low level roof structures covering open air pedestrian ways
and awnings relating to commercial uses may encroach ten feet into setbacks.)
4. Maximum Site Coverage: Seventy per cent [70 %]
S. Maximum Density: 210 Dwelling Units - Site Density of 65 Dwelling Units / Acre
(3 hotel rooms or Accommodation Units = 1 Dwelling Unit)
6. Parking:
A. Commercial:
Five spaces per thousand square feet gross leasable floor area [GLFA] applied to a full range
of commercial uses (allowed in `Town Center' zoning such as retail, restaurant, and / or
office] excluding incidental guest oriented commercial uses within hotel.
B. Residential/Lodging:
1. Hotel: 1.0 parking space per room
(Including incidental guest oriented commercial uses within hotel)
2. Timeshare / Interval Ownership Units: 0.6 parking spaces per bedroom
3. Residential Unit: 2.0 parking spaces per unit up to
two (2] bedrooms plus,
0.5 parking spaces per additional bedroom.
4. Deed Restricted Employee Housing: 0.5 parking spaces per bedroom
C. No additional guest spaces shall be required. All surface and below grade parking spaces
shall be counted toward meeting these requirements.
Lot C, Avon Center at Beaver Creek, B hmar Beaver Creek, Amendment No. 4,
r at
Town of Avon, Eagle County, Colorado, being more particular described as follows:
Beginning at the easternmost corner of Lot C, also being the northernmost comer of Lot B; thence along the line
common to Lots B and C, S52° 41'02 "W, 397.57 feet; thence departing said common lot line, N650 58'09'W, 22.72
feet; thence N020 30'12"W, 576.33 feet to a point on the southerly right -of -way of Benchmark Road; thence along said
right -of -way N59° 20'02 "E, 160.00 feet to a point on the westerly right -of -way of Beaver Creek Boulevard thence along
said right -of -way S270 05'23 "E, 400.62 feet; thence continuing along said right -of -way along the arc of a tangent curve
to the left 80.83 feet, having a radius of 540.00 feet, a central angle of 08° 34'36" and a chord which bears S310
22'41 "E, 80.76 fiat to the Point of Beginming.
Parcel contains 3.24 acres,