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TC Res. No. 2012-09 Condominium Map of Traer Creek Plaza, Resubdivision of Lot 2,To: Honorable Mayor and Town Council From Matt Pielsticker, Planner II Thru Patty McKenny, Interim Town Manager Eric Heil, Town Attorney Date: May 22, 2012 Regular Meeting Re: Resolution No. 12 -09, Approving the Condominium Map of Traer Creek Plaza, Lot 2, The Village (at Avon) Filing No. 1, Town of Avon, Eagle County, Colorado (101 Fawcett Road) Part of Settlement Term Sheet CONTINUED PUBLIC HEARING Summary This application was discussed at the May 8, 2012 Town Council Hearing. After conducting a public hearing and review of the packet materials Council continued this public hearing in order for Staff to bring back additional information. The Applicant, Traer Creek Plaza LLC, owner of Traer Creek Plaza located at Lot 2, Village (at Avon) Filing No. 1 (101 Fawcett Road), submitted a Condominium Map of Traer Creek Plaza (the "Condominium Map "). The Condominium Map (Attachment A) was submitted in accordance with the Settlement Term Sheet (Attachment B) dated October 7, 2011. The Condominium Map would subdivide Lot 2 and the Traer Creek Plaza building into several interests : 13 "retail" units — 12 on ground floor and 1 encompassing the entire 2 "d floor, Commercial Common Elements ( "CCE "), Exterior Common Elements ( "ECE "), Shared Common Elements ( "SCE "), Limited Common Elements ( "LCE "), one parking garage unit( "Unit 1 "), and 16 storage units (13101 - 13208). The Applicant submitted a draft copy of Declarations, Protective Covenants, Conditions, and Restrictions for the Condominiums, and an updated Title Commitment report. The complete drafts of the Declarations and Title Report can be reviewed on the Town's website at www.avon.or /rg eferral. Review Criteria This application is considered a "Minor Subdivision" by definition, and is subject to the subdivision regulations in §7.06.070, Subdivisions, Avon Municipal Code (AMC). The review procedures are outlined in §7.16.020, General Review Procedures, AMC. Accordingly, a Public Hearing before the Town Council is required prior to action. In order to comply with the Public Hearing and pertinent noticing requirements, mailed notice was provided to all property owners within 300' of the property. Additionally, a notice was published in the Vail Daily on April 27, 2012. The noticing requirements were performed by Town Staff in order to facilitate the efficient review and processing of this application. Approval of this Condominium Map can be by either Resolution or Ordinance. The review criteria for Final Plat's are found in §7.16.070(f), Final Plat Review Criteria, AMC, and include the following: (1) The Town Engineer shall compare the legal description of the subject property with the County records to determine that: (i) The property described contains all contiguous single ownership and does not create a new or remaining unrecognized parcel of less than thirty-five (35) acres in size, (ii) The lots and parcels have descriptions that both close and contain the area indicated, and (iii) The plat is correct in accordance with surveying and platting standards of the state. Resolution 12 -09, Traer Creek Plaza Condominium Map May 22, 2011 Council Meeting— Continued Public Hearing Page 2 of 6 (2) The final plat conforms to the approved preliminary plan and incorporates all recommended changes, modifications, and conditions attached to the approval of the preliminary plan; (3) The final plat conforms to all preliminary plan criteria; (4) The development will substantially comply with all sections of the Development Code; (5) The final plat complies with all applicable technical standards adopted by the Town; and, (6) Appropriate utilities shall provide an ability to serve letter including, but not limited to, water, sewer, electric, gas, and telecommunication facilities. Since this review combines preliminary and final plan review into one, the preliminary plan criteria must also be considered prior to taking action. Pursuant to §7.16.070(e), Preliminary Plan Review Criteria, AMC, Council must consider the following criteria: (1) The proposed subdivision shall comply with all applicable use, density, development, and design standards set forth in this Development Code that have not otherwise been modified or waived pursuant to this Chapter and that would affect or influence the layout of lots, blocks, and streets. Applicants shall not create lots or patterns of lots in the subdivision that will make compliance with such development and design standards difficult or infeasible, (2) The subdivision application shall comply with the purposes of the Development Code, (3) The subdivision application shall be consistent with the Avon Comprehensive Plan and other community planning documents, (4) The land shall be physically suitable for the proposed development or subdivision; (5) The proposed subdivision shall be compatible with surrounding land uses; (6) There are adequate public facilities for potable water supply, sewage disposal, solid waste disposal, electrical supply, fire protection and roads and will be conveniently located in relation to schools, police, fire protection and emergency medical services; (7) The proposed utility and road extensions are consistent with the utility's service plan and are consistent with the Town of Avon Comprehensive Plan & Comprehensive Transportation Master Plan; (8) The utility lines are sized to serve the ultimate population of the service area to avoid future land disruption to upgrade under -sized lines, (9) The subdivision is compatible with the character of existing land uses in the area and shall not adversely affect the future development of the surrounding area, (10) A proposed subdivision for an existing PUD shall be consistent with the relevant PUD Master Plan as reflected in the approval of that PUD; (11) Appropriate utilities, including water, sewer, electric, gas and telephone utilities, shall provide an "conditional capacity to serve" letter for the propose subdivision; (12) That the general layout of lots, roads, driveways, utilities, drainage facilities, and other services within the proposed subdivision shall be designed in a way that minimizes the amount of land disturbance, minimize inefficiencies in the development of services, maximizes the amount of Resolution 12 -09, Traer Creek Plaza Condominium Map May 22, 2011 Council Meeting— Continued Public Hearing Page 3 of 6 open space in the development, preserves existing trees /vegetation and riparian areas, protects critical wildlife habitat, and otherwise accomplishes the purposes of this Development Code; (13) Evidence that provision has been made for a public sewage disposal system or, if other methods of sewage disposal are proposed, adequate evidence that such system shall comply with state and local laws and regulations; (14) Evidence that all areas of the proposed subdivision that may involve soil or topographical conditions presenting hazards or requiring special precautions have been identified by the applicant and that the proposed use of these areas are compatible with such conditions or that adequate mitigation is proposed, (15) The subdivision application addresses the responsibility for maintaining all roads, open spaces, and other public and common facilities in the subdivision and that Town can afford any proposed responsibilities to be assumed by the Town, (16) If applicable, the declarations and owners' association are established in accordance with the law and are structured to provide adequate assurance that any site design standards required by this Development Code or conditions of approval for the proposed subdivision will be maintained or performed in a manner which is enforceable by the Town, and, (17) As applicable, the proposed phasing for development of the subdivision is rational in terms of available infrastructure capacity and financing. Discussion The Condominium Map meets the technical requirements for a final plat as outlined in the AMC. Prior to finalizing this document for mylars and signatures, Staff requests that the Applicant update the general notes on the Condominium Map. Note No. 1 must reference the updated Stewart Title commitment documents. Additionally, Note No. 19 should reference the Amended and Restated PUD Guide with an area to reference thefuture Reception Numberforthe Clerk and Recorders office. While the Amended and Restated PUD Guide will be reviewed separately that this Application, the pertinent portions of that draft document are highlighted below per your request. Shared Parkins The VAA PUD Amendment application must properly adopt a definition of Public Parking which requires such parking use to be open to the general public for parking in the event the parking garage (Unit 1) is conveyed in part or in total. This condition must be met in order to fully comply with the review criteria quoted above, and PUD standards related to minimum parking requirements. New language related to Shared Parking facilities is included as part of the PUD Amendment Application submitted on March 23, 2012. According to the Amended and Restated PUD Guide all parking regulations for the Village (at Avon) PUD are located in Exhibit C, Parking Regulations. Specifically, Section C, Parking Facilities Generally, was added. The Parking Facilities section, as drafted, reads: Resolution 12 -09, Traer Creek Plaza Condominium Map May 22, 2011 Council Meeting — Continued Public Hearing Page 4 of 6 C. Parking Facilities Generally. The parking rcquirctncnts set forth in these Off Street Parkituz Regulations may be satisfied by the provision of off street stnrface parking lots and;or Parkin;z Structtrc (s). Stich surface parking lots and Parkin: Sttuctures tnay be situated on the saute or different Site as the L7se(s) to be served by such parkin: facilities so long as the parking facilities satisf} the requirements of these Off Street Parking Regulations. includung without limitation. the required number of parking spaces for the Uses) to be served thereby. Surface parking lots and Parking Stttnctures. whether situated on the saute or different Site as the Uses(s) to be served by such parking facilities. may be owned by a different Owner thatn the Owners. leasehold interest holders. licensees. or pennitees. as applicable. of the Site or applicable portion thereof that contains the Uses) served by such parking facility. NoMithstanding the foregoing. the requirements of Section D.3 below shall apply if (i) the parking facility, is situated on a dtfferetnt Site as the Use(s) to be served by such facility: (ii) the parking facility is Private Parking: and (iii) the Owner of the Site upon which the Private Parking is situated is different that) an Owner. or leaschold interest owner. as applicable. of the Site for the Use served by such Private Parking. The provisions of Section D below with respect to reduction in parking requirements fbr Mixed -Usc Projects or shared parking facilities shall apply to parking facilities situated oil the san7c or different Site as the L,tsc(s) to be served by such parking facilities. Where all :applicant within The Village (at iron) has constructed. or proposes to constrtet. shared off street parking facilities (including without limitation. Parking Structure(s)). all or a pats of the parking spaces required for any L7sc within the applicable development project may be provided within such facilities. Exhibit C, Parking Regulations— Amended and Restated PUD Guide- Version 8 (DRAFT) The above section explicitly allows portions of the required parking for Traer Creek Plaza to be located within the parking structure. It further allows all or part of the parking spaces to be used and held by separate condominium interests and leasehold interest holders. Parking Requirements As stated, if the Parking Garage Unit ( "Unit 1 ") is subdivided as proposed on the Condominium Map and sold separately from the Retail Units, it must be demonstrated that the parking requirements for the Retail Units can be satisfied in some other way consistent with the VAA PUD Guide and the Town's Zoning Ordinance. The primary parking requirements for the Village at Avon (VAA) are contained in Exhibit C of the VAA PUD Guide, the "Off- Street Parking Regulations." The Off- Street Parking Regulations provide four methods for satisfying required parking, including: Parking Table (required parking formula based on different uses), Shared Facilities (i.e. facilities constructed by the "Village At Avon "), Reduction in Parking Requirements for Mixed Use Projects or Shared Facilities (based on Urban Land Institute Standards), and Parking Space Size Reduction for Compact Cars. When this application was originally submitted to the Town in 2009, the Applicant submitted parking calculations (Attachment C) demonstrating the proposed mix of uses, at buildout, would require a total of 215 parking spaces. This number appears to be conservative and assumes another restaurant space on the ground Resolution 12 -09, Traer Creek Plaza Condominium Map May 22, 2011 Council Meeting — Continued Public Hearing Page 5 of 6 level. If the space ends up being occupied by any other use the parking demand would be far less for the commercial space. The property includes a total of 95 surface parking spaces, and 168 garage spaces. Assuming full buildout requiring 215 spaces, the net surplus "Public" parking available of the parking structure is 48 spaces, or 28.6% of the total parking provided in the parking structure Unit. Public Parking The Condominium Map is contingent upon approval of the Village (at Avon) PUD Amendment application and adoption of a definition of Public Parking which requires such parking use to be open to the general public for parking in order to ensure continued compliance with the Village (at Avon) PUD Parking Regulations for the public parking spaces constructed in the parking structure. The draft Amended and Restated PUD Guide submitted as part of the PUD Amendment Application contains a new definition for "Public Parking." The definition for Public Parking is as follows: 99. Public Parking means a surface parking lot or Parking Structure that is available for parking by the general public and which is otivned by the To-vn, a quasi- govetxrmental entity (specifically including Traer Creek Metropolitan District and Village Metropolitan District and any other quasi - governmental entity or urban rene«•al authority approved by the To-,vn after the Effective Date and having all or any part of its boundaries or service area located within The Village (at Avon)). Exhibit 1, Definitions — Amended and Restated PUD Guide — Version 8 (DRAFT) Declarations The Condominium Map (Note No. 19) and the Declarations provide assurance that the parking standards for the mix of uses within Traer Creek Plaza will be met regardless of the parking garage's ownership. As written the availability of the parking garage for public parking will be maintained and enforceable by the Town of Avon. The use restrictions for the parking garage are defined by the Declarations and are consistent with the Condominium Map. The "Parking Unit" definition affirms public use as follows: 1.31. "Parking Unit shall mean the Unit designated on the Map as Unit 1 or the Parking Unit, generally located underground, including all ramps, driveways, parking spaces, and associated space located within such Parking Unit (but excluding all Common Elements and Commercial Units located ,vithin the air space of the Parking Unit). The Parking Unit also includes any utility service lines serving only the Parking Unit. The Parking Unit is established to create a public parking facility that satisfies the parking requirements of the Owner(s), other than the Parking Owner, as described in the PUD Guide. The Parking Unit is hereby restricted to use as a public parking facility, subject to such restrictions as may be required to ensure satisfaction of, and compliance with, the parking requirements described in the PUD Guide. This restrictive covenant will burden and run with the land. The Town of Avon shall have the right to enforce this restriction against the Parking Owner. Declarations for Traer Creek Plaza (DRAFT) Resolution 12 -09, Traer Creek Plaza Condominium Map May 22, 2011 Council Meeting— Continued Public Hearing Page 6 of 6 Parking Rules As mentioned in Plat Note No. 20, there will be separate parking rules running with the property. These Parking rules are consistent with Draft Declarations, Draft Amended and Restated PUD Guide, and other Plat notes related to Public Parking. The parking rules are attached (Attachment D) per Council's request. Escrow Agreement Instead of a conditional approval of this application, the Applicant desires to have the approval (along with all other necessary approvals to implement the Settlement Term Sheet) be held in escrow and released upon completion of all outstanding approvals. To date Staff has not received a draft of the escrow agreement. Recommendation Attached to this Memorandum is a draft of Resolution No. 12 -09 (Attachment E), which would approve the Condominium Map subject to conditions including the successful implementation of the Settlement Term Sheet, PUD Amendment, and dismissal of the litigation. Also attached to this Memorandum is the Applicant's response to Resolution No. 12 -09 (Attachment F), with requested modifications citing the forthcoming Escrow Agreement. Staff recommends approval of Resolution No. 12 -09 (Attachment E), Series of 2012, A Resolution Approving the Condominium Map of Traer Creek Plaza, Lot 2, The Village (at Avon) Filing No 1, Town of Avon, Eagle County, Colorado, until such time as the Escrow Agreement is reviewed and approved by all parties. Town Manager Comments Attachments Attachment A Condominium Map of Traer Creek Plaza, Lot 2, The Village (at Avon) Filing 1, Town of Avon, Eagle County, Colorado/ March 22, 2012 letter from Michael J. Repucci Attachment B Settlement Term Sheet (portion) Attachment C Parking Calculations from Michael J. Repucci - 10/26/09 Attachment D Draft Parking Rules Attachment E Resolution No. 12 -09, Series of 2012, A Resolution Approving the Condominium Map of Traer Creek Plaza, Lot 2, The Village (at Avon) Filing No. 1, Town of Avon, Eagle County, Colorado Attachment F Staff /Applicant E -mail Correspondence regarding Draft Resolution No. 12 -09 Attachment A JOHNSON & REPum LLP ATTORNEYS AND COUNSELORS AT LAW 2521 BROADWAY, SUITE A BOULDER, COLORADO 80304 TELEPHONE 303 -442 -1900 Michael J. Repuccl TELEFAx303 -442 -0191 BOULDER mj repucci(a-j- rlaw.com www.j- rlaw.com WINTER PARK March 22, 2012 BYELECTRONIC MAIL Mr. Matt Pielsticker, Senior Planner Town of Avon Community Development Department Post Office Box 975 400 Benchmark Road Avon, Colorado 81620 Re: Condominium Map of Traer Creek Plaza (the "Map') Dear Matt: In accordance with Paragraph 9 of the Settlement Term Sheet dated October 7, 2011 by and between, among other parties, the Town of Avon (the "Town ") and Traer Creek Plaza LLC ( "Owner "), this letter and the enclosed documents supplement the prior application of Owner for approval of the Map. For your convenience, the current draft of the Map, previously transmitted to Eric Heil for review on January 26, 2012, is enclosed. The enclosed Map was previously revised to incorporate comments received from Mr. Heil. No further changes have been made to the Map following Mr. Heil's review. Also enclosed are the following items: Declaration of Protective Covenants, Conditions, and Restrictions for Traer Creek Plaza Condominiums, revised to correct formatting errors identified by Mr. Heil; and 2. Title Commitment No. 957818 with an effective date of March 5, 2012 at 8:00 a.m., issued by Stewart Title Guaranty Company, including links to all recorded instruments affecting title to the property depicted on the Map. Under separate cover, the Town has received or will receive from the firm of Otten, Johnson, Robinson, Neff & Ragonetti, P.C., The Village (at Avon) Amended and Restated PUD Guide (the "Amended PUD "). Owner previously submitted to Mr. Heil the Traer Creek Metropolitan District's Rules and Regulations governing the uses of the public parking garage designated as Unit 1 on the Map (the "Parking Garage "). The permitted uses for the Parking Garage are further addressed in the Amended PUD, including the Parking Regulations attached thereto as Exhibit C. {00186101 /1 } Attachment A Mr. Matt Pielsticker March 22, 2012 Page 2 Please schedule this matter for hearing before Town Council, and please feel free to contact me with any questions or if you require any further information in advance of the Town Council hearing. Very truly yours, Michael I Repucci Enclosures cc: Eric Heil, Esq. Munsey Ayers, Esq. Kimberly Martin, Esq. Darlene Sisneros, Esq. Angela Rathburn, Esq. 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The applicable rates of interest and priority of payment for existing District debts to Buffalo Midge and the Developer are set forth in governing documents which will control in the event that no substitute terms are agreed upon between Buffalo Ridge, the Developer and the District. Such a future agreement does not constitute a condition of this agreement. With respect to past due principal amounts owed to Avon, the interest rate will be 1.5% and an equal principal amount of past Developer Advances shall bear interest at the rate of 1.5% from the date of settlement forward, which reduced interest rate shall be applied to the latest (most recent) past Developer Advances and this provision shall apply notwithstanding the governing documents for past Developer Advances with regard to interest rates, Notwithstanding anything in this paragraph, the prepayment or refinancing of the District's BNP bonds requires payment in full of all deferred Letter of Credit fees at the time of refinancing. 8. Avon and the Developer will resolve all outstanding and anticipated land use issues according to the summary of deal paints reflected on Schedule 3, attached. 9. Approval of Condominium Application: Avon must approve the Traer Creek office building / parking garage condominium application such that the ownership of the parking garage as established in the pertinent existing instruments between Developer and the District are recognized and established as condominium interests. This is required to obtain legal opinions for the re -issue of the District's bonds. 10. Urban Renewal Authority ( "URA "): a. Developer agrees that it will provide its timely, full, and reasonable cooperation in assisting Avon in the formation of an Urban Renewal Authority for Lot 1 of the Project. b. Up to $10MM of principal debt issued by the URA maybe credited against the $96MM Credit PIP Cap on the following conditions; i. The URA funds must be used for Capital Projects (as defined in 1(f)) to qualify for credit against the 696MM Credit PIP Cap. ii. The cost of improvements to Avon -owned properties (for example, improvements to Planning Areas B and C and similar matters) will not result in a reduction of the Credit PIF Cap. iii. Nothing in this provision constitutes a limit on the URA's ability to finance improvements it deems appropriate. The restriction in paragraph Attachment C NJ C7 uy LO O N CO 0 0 N W V• f`^-CDV• M�M00 CD U') N ao V• Co �— M � f`- C9 C. CS? 1C. Cq N 0 0Or9f-N C8 0 0A {D (S7 CO CDOe- r N c LO f, C(1 cI V y I� C33 � (•] r 0 O tt U r T r r N N 'O Ql m Cr Cu v a� > as � m m a N a M v CU O N c v •� q G Co v U) W T N CL O w C CL fl a fd G 0 a LL to M �m(umm O � N U U C(I CL CL G CD CA tz CA ul E2 N Lu CL O c C C C Cr N CV G O d3 Co CO N O O N (6 O Ur to 'O 'a W N G1 N CM p O "d Q' CD 3 N '2 e 0 0 0 0 C CL CL C(J C6 C'> ;C .r .•.• ..� y L Qi (ll Qi m �a O d? °� °� Mz5 �a °rn Ms° a ��yy 4i CL N QQQ4QQ�CQ u.�t.�u. QQ�2Q�CQ N U •a JJ.._lJJJ_!J ti�tytit�tt JJJJJJ 'U U � � � � 0 t70Ci0 0 00 �'SU sr 0 0 3 U G CTaCT 0 (9 C4 (9 :9 C9 cf� a 0 c y C� 000Da o 0o o M CD C) a 0©000C) Co (0 — ai �C>ooC) s Ci C) 000o000o Q O C� 0 0 0 c)oC�0C�o �t}%iv o T.- V V !i V V V V V- MMV.10MCo 00000 Co NNMCDMNU') NM V'CDw(Dw 0 0 0 0 0 v v 0 LO C") C5 0 M N 0 C) h 0 r- 0 C3? CQ C] cD N r r N a0 V CO M C 3 M CO N r N NCO 4 N o M T 1- r r T r N (D r- r M r M M { y M u� II U m Cu a� > as � m m a L o a M v O N c v •� q G n O v U) W T N O 4 O C CL fl a fd G 0 a LL to M O � N U U C(I CL CL ul E2 N Lu CL O N CV G O .N (U O (6 O Ur to 27 L Q p O "d Q' CD 3 C2 cc: G C CL CL C(J C6 0[a o m Co � m �a ?�lo \ `° Mz5 �a °rn Ms° a ��i= o U N c Co Co iL04 CCj N U — CU O N c 3 'C 2 211 23) E OT tV N G¢ t�NNU?u's �'SU 4 > 0 F- Uv7 >0 rf Cooties Attachment D TOWN OF AVON RESOLUTION NO. 12 -09 Series of 2012 A RESOLUTION CONDTIONALLY APPROVING THE CONDOMINIUM MAP OF TRAER CREEK PLAZA, A RESUBDIVISION OF LOT 2, THE VILLAGE (AT AVON) FILING 1, LOCATED IN SECTION 7, TOWNSHIP 8 SOUTH, RANGE 81 WEST OF THE 6TH P.M., TOWN OF AVON, EAGLE COUNTY, COLORADO WHEREAS, on October 7, 2011 Traer Creek Plaza, LLC ( "TCP ") , the Town of Avon, and other parties entered into the Settlement Term Sheet in an effort to resolve pending litigation No. 2008 CV 385 and 2010 CV 316, Eagle County District Court; WHEREAS, the Settlement Term Sheet and the documents contemplated in the Agreement require the Town to approve several and various actions which are all related to and necessary for implementation of the Agreement; WHEREAS, the Settlement Term Sheet contains the following condition: "Avon must approve the Traer Creek office building /parking garage condominium application such that the ownership of the parking garage as established in the pertinent existing instruments between Developer and the District are recognized and established as condominium interests. This is required to obtain legal opinions of the re -issue of the District's bonds "; WHEREAS, on March 22, 2012, TCP submitted a Condominium Map of Traer Creek Plaza, A Resubdivision of Lot 2, Village (at Avon) Filing 1, Located in Section 7, Township 8 South, Range 81 West of the 6a' P.M., Town of Avon, Eagle County Colorado, also known as 0101 Fawcett Road; WHEREAS, the Final Plat is necessary to implement the Settlement Term Sheet; WHEREAS, the proposed subdivision complies with the requirements for consideration as a Final Plat; WHEREAS, the Final Plat was found to be in conformance with the review criteria in Section 7.16.070(f), Final Plat Review Criteria, Avon Municipal Code; and WHEREAS, the Town Council of the Town of Avon held public hearing for Final Plat review on May 8, 2012 and May 22, 2012, after posting notice as required by law, considered all comments, testimony, evidence and staff reports provided by the Town staff prior to taking any action on the Final Plat application; NOW, THEREFORE BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF AVON, that the Condominium Map of Traer Creek Plaza, A Resubdivision of Lot 2, Village (at Avon) Filing 1, Located in Section 7, Township 8 South, Range 81 West of the 6a' P.M., Town of Avon, Eagle County Colorado, is hereby approved by the Town of Avon, subject to the following conditions: Res. 12 -09 Approving Traer Creek Plaza Condominium 12 -05 -02 ejh Attachment D 1. The Traer Creek Plaza Condominium Subdivision approval is subject to approval of the Village (at Avon) PUD Amendment application and adoption of a definition of Public Parking which requires such parking use to be open to the general public for parking. 2. The Traer Creek Plaza Condominium Subdivision approval is subject to the full implementation of the Settlement Term Sheet and dismissal of the litigation. The Traer Creek Plaza Condominium Subdivision approval shall not become effective prior to satisfaction of the conditions stated in this Resolution. If the Settlement Term Sheet is not fully implemented or prior to May 7, 2013, then this approval shall automatically expire without further action. The Town Council may extend this conditional approval in accordance with Section 7.16.020(h). 3. The Condominium Map of Traer Creek Plaza shall not be recorded until conditions 1. and 2. above are satisfied, and shall thereafter be recorded within ninety (90) days after satisfaction of the conditions 1. and 2. above in accordance with Section 7.16.070(h)(1). ADOPTED MAY 22, 2012 TOWN COUNCIL ATTEST: By: By: Rich Carroll, Mayor Res. 12 -09 Approving Traer Creek Plaza Condominium 12 -05 -02 ejh Catherine Mythen, Deputy Town Clerk F OWNER/OPERATOR TRAER CREEK METROPOLITAN DISTRICT (303) 987 -0835 PARKING STRUCTURE RULES AND REGULATIONS Use. Attachment E Draft Parking Rules (a) The Traer Creek Plaza Parking Structure (the "Parking Structure ") shall be open to the general public in accordance with the Parking Structure Rules and Regulations as set forth herein and as may be amended from time to time. The Parking Structure serves retail and commercial development within The Village Metropolitan District, including the office /retail center located directly above the Parking Structure. The Parking Structure shall be used only as a public parking facility for automobiles, motorcycles and bicycles and for uses ancillary thereto and for no other purpose whatsoever (including, without limitation, the storage for any purpose, installation of automobile accessories, automobile repairs, servicing or bodywork). No person shall use any roadway or walkway except as a means of egress from or ingress to the Parking Structure. Such use shall be in an orderly manner and in accordance with directional or other signs or guides. Roadways shall not be used at a speed in excess of five (5) miles per hour, or as otherwise posted, and shall not be used for parking or stopping, except for the immediate loading or unloading of passengers. Walkways shall only be used for pedestrian travel. Although the Parking Structure is a public parking facility, it shall be subject to the Town of Avon Municipal Code sections cited herein, which regulate vehicle impoundment on private property, and, for the purposes of these Rules and Regulations, references therein to "private" property and parking facilities shall apply to the Parking Structure and the District shall be the "owner" which is authorized to implement and enforce the requirements set forth therein. (b) All motor vehicles shall be parked in an orderly manner within the painted lines defining the individual parking places. (c) Any vehicle left in the Parking Structure for longer than forty -eight (48) hours is subject to towing or immobilization (including booting) at the owner's expense, unless otherwise approved in writing by the manager (the "District Manager ") of the Traer Creek Metropolitan District (the "District "). (d) No person (other than authorized personnel) shall enter or use any utility area or other area reserved for non - public use. (e) No person shall use or place any Hazardous Materials in, on, or about the Parking Structure (provided that gas and oil in gas tanks and engines of passenger vehicles parked in the Parking Structure shall not be deemed Hazardous Materials for purposes of this paragraph). "Hazardous Material(s)" shall mean any hazardous, toxic, flammable, explosive, noxious or radioactive substance, material, matter, or waste which is or becomes regulated by any federal, state, or local law, rule, regulation, code, ordinance, or any other governmental restriction or requirement. (00054450.DOC v:5 ) Attachment E Draft Parking Rules 2. Signs. No person shall place or permit to be placed any sign, advertising material, or lettering on the exterior or the interior of the Parking Structure. Notwithstan ding the foregoing, the District shall be allowed to place functionality signs, including, but not limited to, by the way of example, signs displaying the rules and regulations, wayfinding and/or directional signs, as well as all signage described in Town of Avon Municipal Code 5.12.100(4) requiring the posting of signage on and within private parking lots which contain parking spaces for which the property owner of designees use booting or towing of vehicles for parking enforcement. 3. No Obstruction. No person other than the District shall erect or maintain any obstructions within the Parking Structure without the express written consent of the District Manager; without limiting the foregoing, no sale, solicitation, storage or display of merchandise or services shall be conducted within the Parking Structure. No person other than the District shall erect or maintain any fence or barrier without the express written consent of the District Manager. 4. Prohibitions. Except to the extent the following prohibitions are forbidden by law, no person shall, in or on any part of the Parking Structure: (a) Vend, peddle, solicit orders for, or distribute any merchandise, device, service, periodical, book, pamphlet or other matter whatsoever; (b) Exhibit any sign, placard, banner, notice or other written material (except authorized materials relating to the use or operation of the Parking Structure); (c) Distribute any circular, booklet, handbill, placard or other material; (d) Solicit membership in any organization, group or association or contributions for any purpose; (e) Parade, rally, patrol, picket or demonstrate, or engage in any conduct that might tend to interfere with or impede the use of the Parking Structure; (f) Throw, discard or deposit any paper, glass or extraneous matter of any kind, except in designated receptacles, or create litter or hazards of any kind; (g) Use any sound- making device of any kind or create or produce in any manner noise or sound that is annoying, unpleasant, or distasteful to occupants or permittees; (h) Deface, damage or demolish any sign, light standard or fixture, landscaping material or other improvement within the Parking Structure, or the property of customers, business invitees or employees situated within the Parking Structure; (1) Do anything which (i) violates any law, ordinance or regulation, (ii) constitutes a hazardous use or public or private nuisance, or (iii) violates, suspends or voids any policy or policies of insurance on the Parking Structure; (j) Skateboard, rollerblade or otherwise use the Parking Structure for recreational purposes; (00054450.DOC v:5 ) 2 Attachment E Draft Parking Rules (k) Sleep in, on or about one's vehicle or otherwise use the Parking Structure for camping or residential accommodation; or (1) Loiter. The listing of specific prohibited items is not intended to be exclusive, but to indicate in general the manner in which the right to use the Parking Structure is limited and controlled by the District. 5. Towing and Immobilization. The District reserves the right to have any vehicles, property or equipment placed or used in the Parking Structure in violation of these Rules and Regulations removed, towed or immobilized (including booting) at the owner's cost and expense in accordance with the requirements of Town of Avon Municipal Code Sections 5.12.100, 5.12. 110 and 5.12.120. 6. Construction /Contractors. During periods of construction in the office /retail suites, the District shall designate an area or areas within the Parking Structure for use by contractors and construction personnel. Such areas may be used for the temporary parking of construction vehicles and the temporary placement or stockpiling of construction equipment and materials. The following terms and conditions, in addition to others the District may impose or adopt from time to time, shall govern such use of the Parking Structure: (a) The contractor /construction personnel must obtain a permit for such use r from the District. A fee of $15.00 per day per user shall be imposed and must be paid in advance of such use. (b) Placards, decals or other markings as may be required by the District shall be placed on the dashboards of construction vehicles, affixed to construction equipment and /or materials in such manner as the District may require. (c) No explosive, flammable, corrosive or other volatile or hazardous materials may be brought into, placed or stored within the Parking Structure. (d) Elevators serving the Parking Structure and other portions of the office /retail complex shall not be used for the transport of construction materials or equipment. All construction equipment and materials must be brought into the office /retail complex through other means to be designated by the owner or manager thereof. (e) All damage to the Parking Structure, other portions of the office /retail complex or personal property owned by third parties shall be the responsibility of the contractor /construction personnel. The District shall not have and shall not assume any liability for any such damage. The District also disclaims any responsibility or liability for lost, stolen or damaged construction vehicles, construction equipment or construction materials and any injury suffered by any user of the Parking Structure. (f) As a condition to obtaining a permit for such use, the contractor/ construction personnel must provide to the District proof of commercial general liability and automobile liability insurance in amounts not less than $1,000,000 per occurrence, and all such t {00054450.DOC v:5 } 3 Attachment E Draft Parking Rules policies must name the District as an additional insured. All contractors /construction personnel must also demonstrate to the District that a policy or policies of worker's compensation insurance is in effect, such that all employees and construction personnel are covered by a policy in full force and effect. (g) Contractors and construction personnel are reminded of the Parking Structure's height restriction: NO VEHICLES OVER 7'0" IN HEIGHT. 7. Fees. The District may, from time to time, impose certain fees, rates or charges for use of the Parking Structure. Any such fees, rates or charges will be imposed, due and owing in accordance with a separate resolution of the District. Further, any such fees, rates or charges may be increased or decreased from time to time, in the discretion of the District; provided, however, any fees established and imposed by the District shall be in accordance with commercially reasonable standards of similar parking structures in the Vail Valley, and to the extent that such fees relate to parking enforcement, all such fees shall comply with the requirements of Town of Avon Municipal Code Section 5.12.110. {00054450BOC v:5 } 4 Attachment F Matt Pielsticker From: Martin, Kimberly A. <kmartin @ottenjohnson.com> Sent: Friday, May 04, 2012 11:39 AM To: Ayers, Munsey; Eric Heil Email Cc: Larry Brooks; Matt Pielsticker; Justin Hildreth Subject: RE: Traer Creek Plaza Condo Plat Resolution Attachments: DENVER01- #1014688 -v2- Avon _Council_Resolution_Re_Traer_ Plaza _Condominium_Plat_Approval.DOC; DENVER01- #1014688 -vdoc- Avon _Council_Resolution_Re_Traer_ Plaza _Condominium_Plat_Approval.DOC Per Munsey's email below, attached are clean and redline versions of the resolution for your review. I'm available to make revisions as necessary. Thanks. Kim From: Ayers, Munsey Sent: Friday, May 04, 2012 8:53 AM To: 'Eric Heil'; Martin, Kimberly A. Cc: 'Larry Brooks'; 'Matt Pielsticker'; 'Justin Hildreth' Subject: RE: Traer Creek Plaza Condo Plat Resolution Eric - Kim and I discussed the draft resolution this morning and Kim will be proposing some revisions for your consideration. Those proposed revisions will generally address our concern with the nature of the action being characterized as conditional, which we view as problematic in terms of the triggering of the legal challenge time frame. In general, Kim will be adding recitals identifying the PUD application in order to make the definitional connection and inter- relationship on the public parking issue, and identifying the Escrow concept. Then, in the numbered paragraphs we would want to see the approval characterized as final action, recognize the inter - dependency with the PUD, recognize the deposit of the final approved condo plat and resolution into Escrow, and recognize that the plat will attach to burden and benefit the property only upon recordation in accordance with the terms and conditions of the Escrow. As you know, I'm wanting to be very precise and attentive to the recent case law. If you have concerns with this approach, please advise. Otherwise, Kim is working on some language. Thanks, and see in an hour or so. MUNSEY AYERS ATTORNEY AT LAW O T T E N JOHNSON D 303 575 7555 F 303 825 6525 MUNSEY(a),OTTENJOHNSON.COM ROBINSON NEFF + RAGONETTI Pc 950 SEVENTEENTH STREET SUITE 1600 DENVER COLORADO 80202 OTTENJOHNSON.COM I ROCKYMOUNTAINREALESTATELAW.COM This email message, any attachments, and any metadata contained therein are for the sole use of the intended recipients and may contain information that is confidential and subject to the attorney - client privilege. Any unauthorized review, use, disclosure or distribution is prohibited. Please do not read, copy, or disseminate this email message, any attachments or any metadata contained therein unless you are the intended recipient. If you have received this email in error, please call us (collect) at 303 825 8400 and ask to speak with the message sender. Also, we would appreciate your forwarding the message back to us and deleting it from your system. Thank you. Attachment F From: Eric Heil [ mailto:ericheillaw(d)g mail. coml Sent: Wednesday, May 02, 2012 10:11 AM To: Ayers, Munsey; Martin, Kimberly A. Cc: 'Larry Brooks'; 'Matt Pielsticker'; 'Justin Hildreth' Subject: Traer Creek Plaza Condo Plat Resolution Munsey and Kim, attached is Resolution No. 12 -09 approving the Traer Creek Plaza Condominium Plat with conditions. Please provide comments. Town staff will need to finalize soon (Thursday at noon is the standard deadline). Thanks, Eric Eric J. Heil, Esq., A.I.C.P. HEIL LAW & PLANNING,uc 2696 S. Colorado Blvd., Suite 550 Denver, CO 80222 Tel 303975.6120 Mob 303.518.4678 Fax 720.836.3337 E -Mail eric@heiillaw com Website mnvw heillaw com This communication may contain confidential attorney- clientprivileged information. Unauthorized receipt or use of this communication is notpermitted. if you have received this communication in error, please delete the message and contact Heil Law & Planning, LLC., immediately. Attachment F TOWN OF AVON RESOLUTION NO. 12 -09 Series of 2012 A RESOLUTION CONDr tON A i r v APPROVING THE CONDOMINIUM MAP OF TRAER CREEK PLAZA, A RESUBDIVISION OF LOT 2, THE VILLAGE (AT AVON) FILING 1, LOCATED IN SECTION 7, TOWNSHIP 8 SOUTH, RANGE 81 WEST OF THE 6TH P.M., TOWN OF AVON, EAGLE COUNTY, COLORADO WHEREAS, on October 7, 2011 Traer Creek Plaza, LLC ( "TCP ") , the Town of Avon, and other parties entered into the Settlement Term Sheet ( "Settlement Term Sheet") in an effort to resolve pending litigation No. 2008 CV 385 and 2010 CV 316, Eagle County District Court; WHEREAS, the Settlement Term Sheet and the doeuffiea4s eeptempla4ed iH th° "� mere uires the Town of Avon to approve several and various actions which are all related to and necessary for implemepAeAiefi of the Agfeenieffghe resolution f the litigation, which actions including, among others, approval by the Town of Avon of an amendment to the planned unit development zoning documents for the development known as The Village (at Avonl and a condominium plat for certain property within The Vile (at Avon) known as Traer Creek Plaza; WHEREAS, with respect to such condominium plat, the Settlement Term Sheet contains the following condition: "Avon must approve the Traer Creek office building /parking garage condominium application such that the ownership of the parking garage as established in the pertinent existing instruments between Developer and the District are recognized and established as condominium interests. This is required to obtain legal opinions of the re -issue of the District's bonds "; WHEREAS. on March 23. 2013. affiliates of TCP submitted a development application for an amendment to the planned unit development for The Village (at Avon) ( "PUD "): WHEREAS, on March 22, 2012, TCP submitted a development application for a minor subdivision for a Condominium Map of Traer Creek Plaza ( "Final Plat "), A Resubdivision of Lot 2, Village (at Avon) Filing 1, Located in Section 7, Township 8 South, Range 81 West of the 6t' P.M., Town of Avon, Eagle County Colorado, also known as 0101 Fawcett Road; WHEREAS, in connection with implementation of the Settlement Term Sheet, it is ontemplated that the parties to the litigation will enter into an escrow agreement that will provide for, among other matters. (il the escrow o£ among other documents. the PUD and the Final Plat upon approval of the same by the Town Council of the Town of Avon, and (iil the release from escrow and recording in the real property records of Eagle County. Colorado of the PUD and Final Plat upon the satisfaction of certain matters: WHEREAS, the Final Plat is necessary to implement the Settlement Term Sheet; Res. 12 -09 Approving Traer Creek Plaza Condominium 12 -05 -02 ejh +.+ 101 -4689 ' Attachment F WHEREAS, the proposed so Final Plat complies with the requirements for consideration as a r- minor subdivision in accordance with Section 7.16.070 Avon Municipal Code, WHEREAS, the Final Plat was found to be in conformance with the review criteria in Section 7.16.070(f), Final Plat Review Criteria, Avon Municipal Code; and WHEREAS, the Town Council of the Town of Avon held a public hearing for Final Plat review on May 8, 2012, after posting notice as required by law, considered all comments, testimony, evidence and staff reports provided by the Town staff prior to taking any action on the Final Plat a-ppl 64ia*; NOW, THEREFORE BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF AVON, that , Avon) 1, abed- i4; ��eetiefg 7, ownship- 8- satAk�'-ffige -81 „6.,q* Af th � -#� 1. The T�-A °r r� ° °' n' r°44-d-e ftio-.., r"1., ivisiei a' isFinal Plat is hereby approvcd by the Town Council of the Town of Avon subject to Town Council approval of the PUD which includes a definition of "public parking” substantially providing that public parking facilities are owned by the Town of Avon or another governmental or auasi - governmental entitv and are vailable for parking by the general public. 2. The T r- avi- cGr-eek Plaza Co•".a,.,v.;,-.;,.m C'„l.diyis;o„n a a4 is tA. e .t tE) the fif,ll > > Taw Goiffleil m extend this nd t;, pal . .al in aeeefdaneewith Seetien 7.16.0-20i Ta roval of the Final Plat is effective as of May 8, 2012 and constitutes the final approval of the Final Plat for purposes of appeal of such approval. 3. The Gendeminitim Map ef Tfaef Gfeek Plaza shall not be feeefded tinfil eanditions 1. a*d 2. above ffe sa4isged, eAd shall thefeafter- be r-eeer-ded m,44iff +iiffety (90) days a satisfaetion of the eendifiefls 1. and 2. above in aeeefda*ee with Seetion . fully executed Final Plat and this fully executed Resolution 12 -01, Series 2012. is authorized and will be delivered into escrow, and, upon any release from escrow and recording in the real property records of Eagle County, Colorado, all in accordance with the terms of the Escrow Agreement will encumber and be binding upon the property subject to the Final Plat. ADOPTED MAY 8, 2012 TOWN COUNCIL ATTEST: Res. 12 -09 Approving Traer Creek Plaza Condominium 12 -05 -02 ejh +dui i 10146 a?