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TC Res. No. 1987-05RESOLUTION NO. 87-5 SERIES OF 1987 A RESOLUTION APPROVING PRELIMINARY PLAN FOR EAGLEWOOD SUBDIVISION AND ESTABLISHING CONDITIONS FOR PROCEEDING TO FINAL PLAT WHEREAS, Avon Ranch Company, a Colorado General Partnership has submitted a Preliminary Plan for Eaglewood Subdivision, a subdivision of Parcel 2 of the Meyers Ranch Annexation to the Town of Avon; and WHEREAS, the Town Council of the Town of Avon has held a public hearing at which the applicant and the public were provided the opportunity to present their concerns regarding the proposed subdivision; and WHEREAS, the Town Council of the Town of Avon has reviewed the Preliminary Plan for Eaglewood Subdivision for conformance with the guidelines and conditions of the Sketch Plan approval, Subdivision Regulations, Zoning Regulations and'the Master Plan of the Town of Avon; and WHEREAS, the Town Council of the Town of Avon finds the Preliminary Plan for Eaglewood Subdivision is in general conformance with guidelines and conditions of the Sketch Plan approval, Subdivision Regulations, Zoning Regulations and the Master Plan of the Town of Avon. NOW, THEREFORE BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF AVON, COLORADO THAT: The Town Council of the Town of Avon, Colorado hereby approves the Preliminary Plan for Eaglewood Subdivision, a subdivision of Parcel 2 of the Meyers Ranch Annexation to the Town of Avon, subject to the following conditions on development of the Final Plat: 1. The Final Plat include a properly signed statement indicating the irrigation ditch owner approves the irrigation ditch easement as shown on the plat. E 2. The Final Plat include a provision for the dedication or conveyance of Tract W to the Town of Avon no later than April 1, 1997. ADOPTED AND PASSED THIS 10TH DAY OF FEBRUARY , 1987. TOWN OF AVON Ilan R. No ingham, Mayor -2- January 28, 1987 Contra Ltd. Attn: Glenn Palmer P.O. Box 97 Edwards, CO 81632 RE: Eaglewood Subdivision - Preliminary and Final Plat Dear-Glenn: The Avon Town Staff has reviewed the Preliminary and Final Plats for Eaglewood Subdivision as received on January 20, 1987. The following comments are in response to that review: 1. The bearing of one line on the plat does not match previous bearings shown for this line or the metes and bounds description contained in the Certificate of Dedication and Ownership; 2. Some additional dimensions must be provided to fully define some dividing line and easement locations; 3. Additional curve data is required for those portions of curves created by the intersection of dividing lines or easements; 4. The 7.5' Drainage, Utility and Public Pedestrian Easement along the easterly line of Lot 1 is not shown on the Preliminary or Final Plat; 5. A utility plan as required by Section 16.40.320 of the Avon Municipal Code was not included with the submittal; 6. The Land Use Summary for Lot 2 must separate the land under water from the remainder of the Lot area. Section 17.04.050 of the Avon Municipal Code states, "there shall be excluded from the calculation in determining allowable density those areas of the development tract under water and up to the mean waterline,..."; 7. The exclusion of land under water from the total area of Lot 2 may reduce the allowable density to.less than the 51 Residential Development Rights shown on the plat; 0 0 • January 28, 1987 Contra Ltd. Eaglewood Subdivision - Preliminary and Final Plat Page 2 of 8. No provisions have been made for the dedication of Tract W or the public open space easements. The following modification of the Certificate of Dedication and Ownership is suggested as a method of accomplishing this dedication: . and dedicate for public use (1) the streets shown herein including avenues, drives, boulevards, lanes, courts and alleys, and (2) Tract W and drainage, public pedes- trian, parkland and open space easements to the Town yo von,... ; 9. The following general note should be added to the Final Plat to clarify the allowed public uses of the easement: Drainage, public pedestrian, parkland and open space easement shall be for use of the general public which use shall not be limited or interfered with by declarant or its assigns. 10. The Preliminary Drainage Report for Eaglewood Subdivision indicates a number of potential problem areas such as overflows from the irrigation ditch and flows from culverts under Highway 6, but does not address solutions to these potential problems. The following general note should be added to the Final Plat,to assure that these potential problems will be addressed in the development plans for each site: No development will be permitted except in accordance with detailed drainage plans providing for the control of drainage and irrigation ditch flows across the site as required for protection of the site development. We will continue with our review. upon receipt of your response to the above comments. If you have any questions regarding the above, please contact me. Sincerely, Norm Wood- Director of Engineering and Community Development Copy/ File NW/mml • • • community designers o `ra ftlil~w Ckd • engineering • surveying prompt effective service February 2, 1987 Mr. Norm Wood Director of Engineering and Community Development Town of Avon Box 975 Avon, CO 81620 8044 Kipling Street Arvada, Colorado 80005 (303) 431-0505 P.O. Box 97 Edwards, Colorado 81632 (303) 949-4640 NECE IVOTEB 31987 RE: Eaglewood Subdivision - Preliminary and Final Plat. Town Comments per letter January 28, 1987. Dear Norm: We have reviewed your comments and revised the plans accordingly. Following is a response to those comments, in the same order as your letter: 1. We have changed this bearing to match previously platted subdivisions abutting the property. 2. Additional diminsions have been provided to fully define easement locations. If you feel we need additional information, please contact me. 3. Additional curve data has been added to tie down the easement. 4. The 7.5' Drainage, Utility and Public Pedestrian easement has been added to the easterly' line of Lot 1 as shown on the sketch plan. 5. The utilities have been-plotted on the preliminary plan. Since this plan has a lot of information on it, we can submit a separate plan with just utilities plotted on it, if you would like. 6. The land use summary has been revised per your request. Lot 2 (3.329 acres) includes 2.029 acres above the Mean Annual High Water Mark, of wh-ich 0.5051 acres is within the P.P.,P.A.O.S. easement. 1.300 Acres of Lot 2 is under water. 0 0 7. 2.029 Acres x 25 residental development rights per acre gives 50.73 RDR's. I have truncated this to 50 (fifty) RDR'S for lot 2, leaving 140-50 = 90 RDR'S for Lot 1. 4.709 acres Lot 1 x 25 RDR'S/acre = 117 RDR's, so the 90 proposed is ok. 8. The Cer-tificate of Dedication and Ownership has been revised to include the dedication of Tract W as a D,PP,PAOS easement. The provision to dedicate Tract W to the Town of Avon has been indicated on the general notes. Ownership of Tract W will be retained by Avon Ranch Company until 1). construction of Eaglewood Condominiums is completed, or 2). 10 years, whichever comes first. The certificate also dedicates "easements shown hereon for their respective purposes only". The, easement on Lot 2 has been, revised to dedicate the easement as "Parkland easement for the Town of Avon, Drainage, Public Pedestrian, and Open Space easement". 9,10 These notes have been added as general notes to the plat. Sincerely, J JAS Glenn Palmer, PE GP:ljf Q C tra community designers Ad • engineering • surveying prompt effective service January 22, 1987 Mr. Norm Wood Town of Avon Engineer Box 975 Avon, CO 81620 Dear Mr. Wood: FOR YOUR INFER ATiON c,L c=- 4VO-0P 8044 Kipling Street Arvada, Colorado 80005 (303) 431-0505 P.O. Box 97 Edwards, Colorado 81632 (303) 949-4640 The Eaglewood Plat (sketch, preliminary, and final plats) was scheduled to be heard by the Town of Avon Council on,-Tuesday, January 27, 1987 We would like to postpone this submittal by 2 weeks to be heard by Town Council on Tuesday, Febuary 10, 1987. ~ U4"J~ Glenn Palmer,-PE GL:ljf cc: Jon Werner Tim Garton • FOR YOUR Iii, P001 M'.AMON C6146~ -'J9)00`0 COLORADO SKI RESERVATIONS DRAWER 5240. AVON, CO 81620 BRECKENRIDGE PHONE. 303/453-9613 AVON PHONE. 3031949-0229 January 2, 1987 Town of-Avon Avon Town Council P.O. Box 975 Avon,-CO 81620 Dear Town.Council; As President of the Sunridge" Phase 2 condominium owner in the project, I behalf of all the owners in Sunridge Eaglewood at Vail project. Homeowners' Association and as a am wr1ting'at this time on the Phase 2 regarding the proposed I have read the brochure on the proposed project, read all the-current articles in the local newspapers and discussed the situation with--many of=our homeowners and local residents to obtain a general opinion on the project': Although we certainly can't prohibit the building of the Eaglewood we do have several concerns which we want the Town Council and the Planning and Zoning Board to be aware of. These concerns are as follows listed in no particular order of concern: 1.--Sunridge Phase 2 is situated on approximately 11 acres of land and contains 198 units in total: The acreage of the new project is approximately 6 acres, yet the developer has proposed building between 185 to 210 units.This would indicate that the ratio of-units to acerage would be double what we already have in Sunridge Phase 2. From our first hand experience in the past 5 years, we feel that Sunridge is already at the maximum reasonable density for a housing project of this type. When you consider such problems as parking, trash.accumulation and removal, snow removal, noise, available open-'space, fireplace emissions and privacy for residents, allowing approximately 200 units on a six acre parcel of land which is substantially lower than the roadbed of Highway 6 to the south and is located directly across the Eagle River from the Rio Grand Railroad tracks and a very high cliff will cause dissatisfaction among future tenants and homeowners. 2. Although no specific sales price have been published to date, we have heard that a proposed price for a two bedroom unit would be approximately $85,000. We feel that this price is incredibly unrealistic and if the developer needs this price to make an adequete profit, then Eaglewood will become one additional unfinished eyesore in the Town of Avon. Do to the initial sales prices and high financing rates, we have suffered through nearly 50 foreclosures or 25% of the entire project in Sunridge 2 over the past five years. These foreclosure sales have created a buyers market and dropped the effective current sales price of a furnished 2 bedroom unit by nearly 50% during this time period. Prices currently range from as low as the high 40's to the low 60's with the average being approximately $55,000. It is obvious that the developer requires the additional densities to make • • the Eaglewood project work financially, however, we can't understand how they can expect to sell the proposed units for $30,000 more than a comparable Sunridge unit especially considering their inferior location. 3. Based on the floorplans and renderings contained in the Eaglewood brochures, the most complimentary comment which I have heard to date is that the project looks like a Motel 6 with dormers. As a developer myself, I must say that the floorplans strongly suggest the use of pre-fabricated modules to cut construction costs. Although this type of construction doesn't necessarily have to look unattractive, it is imperative that the Planning and Zoning Board be especially attentive to detail on this type of project. The Sunridge 2 homeowners are quite concerned about the aesthetics and quality of construction of the Eaglewood project adversely affecting the marketability and value of their units. 4.Our fourth concern is that the proposed platting to be acted upon by the Town Council will allow the Eaglewood developer to mass their buildings as close as 7.5,' from the-east common lot line with Sunridge Phase 2. This is probably necessary to allow the developer to accomodate 200 units on the available land, however, we can't see how sufficient landscaping can be placed on such a small amount of land to insure privacy for both-Sunridge 2 and Eaglewood residents. These are our primary concerns and•if either the Town Council or the Planning and Zoning Board would feel that our further involvement would be helpful in the matter, I would-be more-than happy to attend any meeting concerning this matter. Si•n rely, Gregory K ft, President Sunridge Phase 2 Homeowners Association • TO: BILL JAMES FROM: NORM WOOD RE: EAGLEWOOD SUBDIVISION RESOLUTION NO. 87-1 EAGLEWOOD SUBDIVISION RESOLUTION NO. 87-5 - SKETCH PLAN - PRELIMINARY PLAN • A Sketch Plan for the Eaglewood Subdivision was presented to the Avon Town Council at the January 13, 1987 meeting. Eaglewood Subdivision,is a proposed subdivision of Parcel 2 of Meyers Ranch'annexation and is located immediately west of Sunridge II between Highway 6 and the D & RGW Railroad. The proposed subdivision has a total area of 11.4 acres of which 3.27 acres is within the Eagle River, 0.72 acres is north of the Eagle River and 7.41 acres is located between the Eagle River and Highway 6. Following a review of the Sketch Plan, the Council tabled action on the application pending the receipt of additional materials and information. Following that meeting, the applicant has submitted a Preliminary Plan and related documents along with a draft of the Final Plat. The Preliminary Plan shows two lots for development and a separate open space tract. Lot 1 is located at the southeasterly corner of the subdivision. Lot 1 contains 4.709 acres and a density of 90 Residential Development Rights or approximately-19 per acre is proposed. Lot 2 is 1_ocated at the western end of the subdivision and contains a total of 3.329 acres of which 1.200 acres is located within the Eagle River. Fifty Residential Development Rights are proposed for the remaining 2.029 acre portion of the Lot for a density of 24.6 Development Rights per acre. Tract W is composed of the remaining 3.360 acres with a designated use of Public Open Space, Parks and Drainage. The Preliminary Plan has addressed the conditions contained in the Planning and Zoning Commission Resolution recommending approval of the Sketch Plan. These are: 1) A detailed drainage-report addressing off-site-flows has been submitted. and General Note No. 5 on the Plat requires all development to be in accordance detailed drainage plans. 2) The area located between the 30 foot setback line from the southerly mean annual high water line of the Eagle River and the northerly property line has been designated for Public Open Space, Parks and Drainage. This area bounding Lot 1 has been designated as Tract W. The westerly portion is designated as drainage, public pedestrian, and open space easement and parkland easement for the Town of Avon on Lot 2. General Note No. 7 provides for the conveyance of Tract W to the Town of Avon upon completion of Eaglewood Condominiums or no later than April 1, 1997. 3) The 140 residential development rights previously assigned to the subdivision have been distributed between Lot 1 and Lot 2 such that 25 development rights per acre as allowed in the RHDC Zone District has not been exceeded. 4) Access layout as shown on the Sketch Plan has been eliminated from Preliminary and Final Plat submittals. 5) The Preliminary and Final Plat submittals appear to generally conform with the requirements of the Subdivision'Regulai:ions of the Town of Avon. Staff recommends approval of the Sketch Plan and Preliminary Plan for Eaglewood Subdivision. Preliminary Plan approval is recommended with two conditions:- 1) The Final Plat should include a provision for approval and"signature of the owner of the irrigation ditch easement. 2) Time frames for the conveyance of Tract W should be reduced. Staff recommends conveyance with the recording of the Final Plat. If these recommendations are acceptable to the Town Council the appropriate action would be adoption of Resolutions 87-1 and 87-5. RECOMMENDED ACTION: 1) Adopt Resolution No. 87-1, a Resolution approving Sketch Plan for Eaglewood Subdivision. 2) Hold Public Hearing for Eaglewood Subdivision Preliminary Plan, 3) Adopt Resolution No. 87-5, a Resolution approving Preliminary Plan for Eaglewood Subdivision. NW/ j e - 2 - TO: BILL JAMES FROM: NORM WOOD RE: EAGLEWOOD SUBDIVISION - SKETCH PLAN RESOLUTION NO. 87-1 EAGLEWOOD SUBDIVISION - PRELIMINARY PLAN RESOLUTION NO. 87-5 A Sketch Plan for the Eaglewood Subdivision was presented to the Avon Town Council at the January 13, 1987 meeting. Eaglewood Subdivision is a proposed subdivision of Parcel 2 of Meyers Ranch annexation and is located immediately west of Sunridge II between Highway 6 and the D & RGW Railroad. The proposed subdivision has a total area of 11.4 acres of which 3.27 acres is within the Eagle River, 0.72 acres is north of the Eagle River and 7.41 acres is located between the Eagle River and Highway 6. Following a review of the Sketch Plan, the Council tabled action on the application pending the receipt of additional materials and information. Following that meeting, the applicant has submitted a Preliminary Plan and related documents along with a draft of the Final Plat. The Preliminary Plan shows two lots for development and a separate open space tract. Lot 1 is located at the southeasterly corner of the subdivision. Lot 1 contains 4.709 acres and a density of 90 Residential Development Rights or approximately 19 per acre is proposed. Lot 2 is located at the western end of the subdivision and contains a total of 3.329 acres of which 1.200 acres is located within the Eagle River. Fifty Residential Development Rights are proposed for the remaining 2.029 acre portion of the Lot for a density of 24.6 Development Rights per acre. Tract W is composed of the remaining 3.360 acres with a designated use of Public Open Space, Parks and Drainage. The Preliminary Plan has addressed the conditions contained in the Planning and Zoning Commission Resolution recommending approval of the Sketch Plan. These are: 1) A detailed drainage report addressing off-site .flows has been submitted and General Note No. 5 on the Plat requires all development to be in accordance detailed drainage plans. 2) The area located between the 30 foot setback line from the southerly mean annual high water line of the Eagle River and the northerly property line has been designated for Public Open Space, Parks and Drainage. This area bounding Lot 1 has been designated as Tract W. The westerly portion is designated as drainage, public pedestrian, and open space easement and parkland easement for the Town of Avon on Lot 2. General Note No. 7 provides for the conveyance of Tract W to the Town of Avon upon completion of Eaglewood Condominiums or no later than April 1, 1997. 3) The 140 residential development rights previously assigned to the subdivision have been distributed between Lot 1 and Lot 2 such that 25 development rights per acre as allowed in the RHDC Zone District has not been exceeded. 4) Access layout as shown on the Sketch Plan has been eliminated from Preliminary and Final Plat submittals. 5) The Preliminary and Final Plat submittals appear to generally conform with the requirements of the Subdivision Regulations of the Town of Avon. Staff recommends approval of the Sketch Plan and Preliminary Plan for Eaglewood Subdivision. Preliminary Plan approval is recommended with two conditions: 1) The Final Plat should include a provision for approval and signature of the owner of the irrigation ditch easement. 2) Time frames for the conveyance of Tract W should be reduced. Staff recommends conveyance with the recording of the Final Plat. If these recommendations are acceptable to the Town Council the appropriate action would be adoption of Resolutions 87-1 and 87-5. RECOMMENDED ACTION: 1) Adopt Resolution No. 87-1, a Resolution approving Sketch Plan for Eaglewood Subdivision. 2) Hold Public Hearing for Eaglewood Subdivision Preliminary Plan. 3) Adopt Resolution No. 87-5, a Resolution approving Preliminary Plan for Eaglewood Subdivision. NW/je - 2 - RESOLUTION NO. 87-5 SERIES OF 1987 A RESOLUTION APPROVING PRELIMINARY PLAN FOR EAGLEWOOD SUBDIVISION AND ESTABLISHING CONDITIONS FOR PROCEEDING TO FINAL PLAT WHEREAS, Avon Ranch Company, a Colorado General Partnership has submitted a Preliminary Plan for Eaglewood Subdivision, a subdivision of Parcel 2 of the Meyers Ranch Annexation to the Town of Avon;.and WHEREAS, the Town Council of the Town of Avon has held a public hearing at which the applicant and the public were provided the opportunity to present their concerns regarding the proposed subdivision; and WHEREAS, the Town Council of the Town of Avon has reviewed the Preliminary Plan for Eaglewood Subdivision for conformance with the guidelines and conditions of the'Sketch Plan approval, Subdivision Regulations, Zoning Regulations and'the Master Plan of the Town of Avon; and WHEREAS, the Town Council of the Town of Avon finds the Preliminary Plan for Eaglewood Subdivision is in general conformance with guidelines and conditions of the Sketch Plan approval, Subdivision Regulations, Zoning Regulations and the Master Plan of the Town of Avon. NOW, THEREFORE BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF AVON, COLORADO THAT: The Town Council of the Town of Avon, Colorado hereby approves the Preliminary Plan for Eaglewood Subdivision, a subdivision of Parcel 2 of the Meyers Ranch Annexation to the Town of Avon, subject to the following conditions on development of the Final Plat: 1. The Final Plat include a properly signed statement indicating the irrigation ditch owner approves the irrigation ditch easement 'as shown on the plat. • 0 2. The Final Plat include a provision for the dedication or conveyance of Tract W to the Town of Avon no later than April 1, 1997. ADOPTED AND PASSED THIS 10TH DAY OF FEBRUARY , 1987. TOWN OF AVON rr- Q ~/a Ilan R. No ingham; Mayo r- A -2- JAI V1 N 27- 1 =Councilman Miller moved to table Ordinance No: 86-27, Series of 1986 on second reading. The motion was seconded by Council Watkins and was unanimously carried. Resolution No. 87-1, Series of 1987, A RESOLUTION APPROVING SKETCH PLAN FOR EAGLEWOOD SUBDIVISION AND ESTABLISHING GUIDELINES AND CONDITIONS FOR PRECEEDING TO PRELIMINARY PLAN Norm Wood stated that the sketch plan for the subdivision of Parcel II of the Meyers Ranch Annexation had been submitted for review and approval. He stated that the sketch had been presented to the Planning and Zoning Commission for review, comment, and recommendation to the Council. The recommendation was that the site be determined to be suitable for the subdivision in accordance with the sketch plan as presented. It was stated that the applicant be directed to include a detailed drainage study addressing all site flows and that all appropriate drainage related easements and setbacks be clearly defined at the preliminary plan stage; that the area located along the Eagle River in the required 30 foot setback from the Mean Annual High Water Line; that the area between that, and the northern boundary of the property be defined as a separate tract from the two lots proposed with the subdivision; and that the allowed uses on this tract be stipulated as Public Open Space, Parks and Drainage, that the applicant consider dedicating this area to the Town for park land. Also that the 140 Residential Development Rights which were previously assigned through the zoning ordinance, be split between Lot 1 and Lot 2, such that, neither lot exceed 25 Development Rights per acre of which was allowed in the RHDC Zone District. He stated that the access to the lots would be subject to the Highway Department approval, and that any related information submitted with the sketch plan would not be a part of the approval. Tim Garton, owner of Lot 2, approached the Council. He stated that he was in favor of the 30 foot setback and the 30 foot uses be it, either a bike path or pedestrian easement. He stated that the-Problem was, they had considered the possible use of duplexes on the lot. He stated that it would be easier to have an easement rather than dedicating the parcel, it would mean it would make it easier to sell the lots. Kevin Payne with the Vail Valley Resort Association, approached the Council. He had concern in respect to this project. He stated that after reading the brochure, there was not one mention of Avon, and that it did not identify where the project was located. John Werner with Republic Investments Corporation, approached the Council. He stated that the intent in marketing a project was to market with a name that was very readily identifiable by people who otherwise were not familar with the local geography. He stated the prescience had been established with Eagle-Vail, Arrowhead at Vail, Beaver Creek/Vail. He stated that the parcel was surrounded on three sides by projects that market themselves as Vail. He stated that there was no attempt to leave Avon out. He stated that sales discussions with perspective customers would identify the Town- ship of Avon, the location, and that this was being very adhered to. -5- JC4M (A94AJ 141'&T Councilman Watkins disagreed. He stated that there was no mention of Avon in the brochures. He felt there was an attempt to-go around and felt that this would fall under mis-representation. Councilman Davis felt that it was very mis-leading. Mr. Werner stated that they would be more than willing to see that Avon would be identified, and that it would be known that the project was located in -Avon. He stated that he would see to it that additional sheets would go out with the brochures. It was stated that they had no intentions of making this a time-share project. Don Klinger, resident of Berry Creek, approached the Council. He stated that one of the things that he has pushed has been the promotion of the area, and not the promotion of Vail. He stated that he would make sure in the advertising brochures that if Avon was not" mentioned, that the developer could do without his project. After discussion, Councilman Miller moved to table Resolution No. 87-1, Series of 1987, until Republic Investments Corporation could show their intent that they were going to take advantage of placing the project in the Town of Avon, and indicating so in the brochures that were being presented to people who were interested in the project. The motion was seconded by Councilman Connell. Councilwoman McRory requested that the Council be provided with the additional second sheets that would be going out with the brochures. -Mr. Werner agreed. The motion to table was unanimously carried. At that point, The Town Attorney proposed an Ordinance which he read by title; Ordinance No. 87-1, Series of 1987, AN ORDINANCE REPEALING ORDINANCE 86-19 AND AUTHORIZING THE OBLIGATION OF THE TOWN TO ACQUIRE A PORTION OF LOTS 23 AND 75, BLOCK 2 BENCHMARK AT BEAVER CREEK SUBDIVISION, TOWN OF AVON, FOR USE BY THE TOWN FOR PARKING PURPOSES. He stated that this Ordinance would be indentical to Ordinance 86-19 which was being repealed except as follows: 1. Lot 22-would be deleted from the property covered by the Ordinance. 2. The size of the development site would be changed from 11.74 acres to 6.33 acres. The 6.33 acres would be specifically lots 23 and 75. 3. The name of the developer, would be at this time for purpose of first reading, Edward M. Bendelow and HSW Investments, Inc. 4. The obligation of the Town would be changed,to $1.5 million dollars. Furthermore, the Schedule of Performance, which was Exhibit B to the Agreement, which was Exhibit A to the Ordinance, would be changed as follows: 1. Execution of the land purchase contracts on or before January 22, 1987. 2. Execution of the Agreement and delivery of a deposit of $100,000 on January 28, 1987. 3. Completion of the conceptual development plan on or before February 15, 1987. 4. Commitment satisfactory to the Town for Anchor Tenant on February- 15, 1987. 5. Commitment satisfactory to the Town for financing on or before_ March 1, 1987. 6. Closing on the land on or before February 15, 1987. -6- Fe- brH Lc11167, Councilman Mill moved approval of Resolut n No. 87-4, Series I of 1987. The motion-was seconded by Councilwoman Harrison and was unanimously carried. Resolution No. 87-1, Series of 1987, A RESOLUTION.APPROVING SKETCH PLAN FOR EAGLEWOOD SUBDIVISION AND ESTABLISHING GUIDELINES AND CONDITIONS FOR PRECEEDING TO PRELIMINARY PLAN. Resolution No. 87-5, Series of 1987, A RESOLUTION APPROVING PRELIMINARY PLAN FOR EAGLEWOOD SUBDIVISION AND ESTABLISHING CONDITIONS FOR PROCEEDING TO FINAL PLAT. Norm Wood stated that Resolution No. 87-1 was presented to the Council at the January 13, 1987 meeting. This proposed subdivision was a subdivision of parcel 2 of Meyers Ranch annexation and was located immediately west of the Sunridge II between Highway 6 and the D RGW railroad. Following a review of the sketch plan the Council tabled action pending the receipt of additional materials and information. He stated since then, the applicant has submitted a Preliminary Plat along with a draft of the final plat. The Preliminary Plat show- two lots for development and a separate open space tract. Lot 1 contains 4.709 acres and A ,density of 90 Residential Development Rights, or approximately 19 per acre. Lot 2 contains a total of 3.329 acres of which 1.200 acres is located within the Eagle River. Fifty Residential Development Rights are proposed for the remaining 2.029 acres for a density of 24.6 Development Rights per acre. Tract W was composed of the remaining 3.360 acres and was designated a Public Open Space, Parks and Drainage. Mr. Wood recommended approval of the Resolution for the Sketch Plan and the resolution for the Preliminary Plan for Eaglewood Subdivision. The Preliminary Plan approval was recommended with two conditions. 1. The final plat should include a provision for approval and signature of the owner of the irrigation ditch easement. 2. Time frames for the conveyance of Tract W should be reduced. Staff recommended conveyance with the recording of the final plat. Glenn Palmer of Contra Ltd, approached the Council. He reviewed the Sketch Plan and the Preliminary Plan with the Council. There was discussion of the dedication of Tract W to the Town of Avon. After discussion Council agreed to add to Section 2 of the resolution No. 87-5, that the dedication or conveyance of Tract W to the Town of Avon would be,no later than April 1, 1997. Mr. Palmer also requested that language be added, that permanent structures, other than bike paths, would not be allowed within the thirty foot stream setback on the south side of the river. Council had no problem with that request. John Werner of Republic Investments, Inc. approached the Council. Councilman Connell stated that he still had concerns of the lack of materials and information in respect to where the project was located. Mr. Werner stated that there had been supplements added to the brochure packet, one was a overprint of the logo onto the unit floor plan- sheet,- and the other included a Avon 4-color circular. -3- • Febv-" 101 11!°91 Councilman Connell felt it was mis-leading and felt it was false advertising. Counciman Miller felt that it would not be fair to ask them to reprint the brochure based on the amount of money it would cost. He felt with the added supplements, they have done the best they could, and would have to take their word that they are informing the perspective buyers of where the-project.was located. Councilwoman Harrison agreed. Councilman Watkins stated that he was unimpressed with the effort. After lengthy discussion the Council agreed that Mr. Werner add a vicinity map and a description on the back side of the unit floor, plan. Councilman Miller moved approval of Resolution No. 87-1. The motion was seconded by Councilwoman McRory and was carried with Councilmembers Watkins and Connell opposing. In-respect to Resolution No. 87-5, Series of 1987, the Preliminary Plan for Eaglewood Subdivision; a letter was received from the president of Alpine Management Services, Inc. The management company manages Sunridge II, which is located directly east of the proposed project. The management company"was concerned with the density and such problems as, parking, trash accumulation, snow removal, noise, fireplace emission,-and privacy for residents. After discussion Councilman Miller moved approval of Resolution No. 87-5, Series-of 1987 based on the amendment to Section 2 of the resolution. The motion was seconded by Councilwoman Harrison and was carried with Councilman Watkins opposing. The Town Attorney reported on the FSLIC motion. He stated that the motion to dismiss all matters in connection with the Peregrine Foreclosure was argued two weeks ago, and following argument the motion was denied by Judge Hart. He stated that the litigation was still in court in Eagle and still set for trial in May. Mr. Dunn stated that he would attend the pre-trial conference on April 23, 1987. He hoped that in June the Town could move forward with the foreclosure process. The Town Manager requested authorization to proceed with the Bond Issue for the Shopping Center. He stated that he would meet with Bond Attorneys and Linda Clark this week to discuss the structure of the Bond Issue and the Schedule, and would have it to the Council by the next meeting. Council authorized the Town Manager to proceed. The Town Manager reported on the Chrisite Lodge Bus Service. He stated that he was to meet with the Christie Lodge people this week at their main offices in Denver. He would be negotiating the principles with the management of Christie Lodge. He stated he would need more time to evaluate this issue. No action was taken. -4-