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TC Reso 26 1988 - Public Lands Dedication Agrm't w FDIC - SIGNED.pdfTOWN OF SNOWMASS VILLAGE TOWN COUNCIL RESOLUTION NO. 26 SERIES OF 1988 A RESOLUTION APPROVING A PUBLIC LANDS DEDICATION AGREEMENT. WHEREAS, Section A, Part III of.Exhibit 2 to Ordinance 17, Series of 1978 commits the Federal Deposit Insurance Corporation (FDIC), as successor in interest to the Snowmass Company, Ltd, to dedicate at least 36.6 acres of land for public facilities; and WHEREAS, since 1978, 13.743 acres of land have been dedicated for various public facilities pursuant to the above mentioned provisions and at least 22.857 acres remain to be dedicated; and WHEREAS, in anticipation of the repeal of Ordinance 17, Series of 1978 the Town finds it desirable that the FDIC satisfy the remaining public land dedication commitment. NOW, THEREFORE, BE IT RESOLVED by the Town Council of the Town of Snowmass Village, Colorado: The Town Council hereby approves the Public Lands Dedication Agreement attached hereto and the Mayor is authorized to execute said agreement on behalf of the Town of Snowmass Village. INTRODUCED, READ AND ADOPTED by the Town Council of the Town of Snowmass Village, Colorado on May 16, 1988 by a vote of 7 to TOWN OF SNO SS VILLAGE BY Richard G. Wall, Mayor ATTEST: QfMbI v haAA-Y)n , Aber Harmon, Town Clerk r' 7c C.J r'' CD T rN PUBLIC LAND DEDICATION AGREEMENT ""' y m THIS AGREEMEN,`: is entered into this 16ti7 day of May 1988, by and between THE TOWN OF SNOWMASS VILLAGE, a Colorado municipal corporation (the "Town"), and the FEDERAL DEPOSIT INSURANCE CORPORATION ("FDIC"). RECITALS: 1. Pursuant to the provisions of Section A, Part II of Exhibit 2 to Ordinance 17, Series )f 1978, titled "Public Dedica- tion of Property", the FDIC, as successor in interest to the Snoiamass Company, Ltd., has assumed the commitment to dedicate 36.6 acres of land for public facilities. 2. Since 1978, 13.743 acres of land have been dedicated for various public purposes pursuant to the foregoing provisions of Ordinance 17, Series of 1978, and accordingly 22.857 acres remain to be dedicated. 3. In anticipation of the repeal of Ordinance 17, Series of 1978, the Town and the FDIC desire that the FDIC satisfy the remaining public land dedication commitment by virtue of this Agreement, wherein the general location of lands to be dedicated are identified, and wherein the FDIC and the Town shall agree upon the timing, purpose and manner of such dedications, as well as other matters relating thereto. 4. In addition to satisfying the public land dedication requirements of Ordinance 17, Series of 1978, the Town has requested, and the FDIC has agreed to the dedication and conveyance to the Town of additional land which will be utilized to facilitate employee housing and other public objectives, as more particularly set forth herein. vr ' QOK }} r % F863l/ nr NOW, HEREFORE, in consideration of the mutual promises and obligation-- set forth herein, and of the premises, and specif- ically the acknowledgement that the FDIC has satisfied the public land dedication requirements of Ordinance 17, Series of 1978, by virtue of its promises set forth herein, the parties agree as follows: 1. Subject to the provisions of this Agreement, the FDIC shall convey the following parcels of land to the Town: A. Maintenance Facility Site. In order to provide a suitable location for the Town's vehicle maintenance operation, the FDIC agrees to convey approximately 4.7 acres of land identified as Parcel.No. 1 on the Public Lands Dedication Map attached hereto and incorporated herein as Exhibit A (the Dedication Map"), provided that the specific location thereof and the site design criteria are mutually agreed upon by the Town and the FDIC. B. School/Public Facilities Sites. in order to provide a suitable location for educational facilities, a municipal administration building, and other compatible public uses, the FDIC agrees to convey two parcels of property of appro:;imately 12.7 acres and 2 acres, respectively, identified as Parcels No. 2 and 3 on the Dedication Map. C. Hidden Valley. In order to provide a, suitable location for multiple public uses, the FDIC agrees to convey approximately 2.11 acres of land in the area known as Hidden Valley and identified as Parcel No. 4 on the Dedication Map. D. Palisades Restricted Housing Parcel. In order to facilitate the development of "restricted housing", as that term is defined in the Snowmass Village Land Use Code and to create a receiving parcel for the development of "restricted housing" in connection with the development of unrestricted units on other 32/DD8 -2- parcel-- presently owned h-,, the FDIC in S=,mass Village and subject to the provisions of Ordinance 10, Series of 1987, the FDIC agrees to convey approximately 18.E acres of land identified as Parcel No. 5 on the Dedication Map. Said conveyance shall be made subject to the following conditions: 1) The deed from the FDIC shall contain a covenant restricting and limiting the use of the -parcel to restricted housing" units as that term is defined in the Snowmass Village Land Use Code. 2) A portion of the parcel shall be "reserved" for the construction of ninety-two (92) restricted housing units which mal,7 be required in connection with the future development of unrestricted dwelling units on other 'Land presently owned by the FDIC in Snowmass Village and subject to the provisions of Ordinance 10, Series of 1987. The reservation shall be exercised in the following manner: a) As part of the PUD or subdivision review process .for a project which has a restricted housing requirement, the applicant/developer may propose that such requirement be satisfied by the construction and dedication of restricted housing u.Ilts by such applicant/developer on the Palisades Restricted Housing Parcel, subject to the restricted housing subsidy provisions of the Snowmass Village Land Use Code. In the alternative, the applicant/ developer may propose that a cash -in -lieu contribution, as defined in the Snowmass Village Land Use Code and regulations thereunder, be made to the Town in order that the Town may undertake construction of such units. The Town shall have the discretion to reject either alternative or to reject the use of the 3 2 / D D 8 -3- eUJK 56 i P;GE865- Palisades Restricted Housing Parcel for all or a portion of the r,quired restricted units if the Town determines that suitable and adequate land exists within the proposed PUD or subdivision. If, however, no suitable and adequate land exists within the proposed PUD or subdivision, the Town must accept one of the two alternatives in satisfaction of the restricted housing requirements applicable to said PUD or subdivision. b) Before accepting the construction alternative, the applicant/developer shall submit and the Town shall have approved an application for conceptual PUD approval for that portion of the Palisades Restricted Housing Parcel on which such units are proposed to be constructed. No actual construction of restricted housing shall be undertaken until final PUD approval has been granted. c) Upon acceptance of either the construction or cash -in -lieu alternative for a specific number of restricted units, the "reservation" shall be reduced by the same number. At such time as the reservation has either been used or the restricted housing requirements associated with the maximum development potential of the FDIC lards subject to Ordinance 10, Series of 1987, have been satisfied, the "reservation" shall be cancelled. 3) The Town agrees and the FDIC acknowledges that as a consequence of the conveyance of the Palisades Restricted Housing Parcel to the Town, the overall restricted housing requirements associated with the development of unrestricted dwelling units on the parcels described in Ordinance 101 32/DD8 -4- Series of 1987, which are hereby reduced from one unrestricted units to one unrestricted units. e0ar 50 presently owned by --he FDIC, rs 1) restricted unit per 4.59 1) restricted unit per 5.75 4) Provided that sufficient and adequate land area is reserved" as provided above, the Town may, at its option and in its sole discretion, cause or allow the construction of restricted housing units over and above those which may be required by such reservation, provided that the maximum density for the Palisades Restricted Housing Parcel, as established by Snowmass Village zoning regulations, is not exceeded. E. Little Red School House Addition. In order to insure continued operation of the "Little Fred School House" as a day care center and to accommodate expansion of day care and playground uses and facilities, the FDIC agrees to convey approximately one acre (33,800 square feet) of land identified as Parcel No. 6 on the Dedication Map. F. East Village Parkincr and Public Facilities Site. In order to provide 'a suitable location or locations for public parking and transportation facilities required in connection with the development of Parcel No. 29, as described in Ordinance 10, Series of 1987 (East Village), the FDIC agrees to convey approximately one acre of land in a location to be determined at the time of and in connection with the approval of the first PUD application for all or any portion of said Parcel No. 29. Prior to any construction, design criteria shall be established by mutual agreement between the Town and the owner or owners of said Parcel No. 29, upon and subject to the following conditions: 1) The precise location shall be subject to mutually agreeable site design and building design criteria in order to insure that the location of the site will be compatible 32/DDS -5- u IS J i RAGE86 7 with the use and development of ad4,acent pt-operti.es and to insure that any proposed facilities vill not detract from, proposed development and use of said Parcel No. 29 and adjacent properties; 2) The final site development plan shall be prepared in accordance with the site design and building design criteria; 3) The location, size, height, bulk, macs and architecture of any structures to be constructed by the Town must be consistent with the site design and building design criteria; and 4) The conveyance shall be made simultaneously with adoption of the Final Plan and Detailed Final Plat approval for that portion of said Parcel No. 29 which contains the dedication parcel. G. Transportation Easements. In order to accommodate an aerial tramway or other nonsurface public transportation system !inking Snowmass Village, the City of Aspen, the Aspen Airport and Business Center, and other locations in between, the feasibility of which is now being studied, it may be necessary to establish rights of way through certain parcels now owned by the FDIC. Since the proposed alignment for such a system has not yet been determined, it is not possible to locate those rights of way at this time. Nevertheless, in order to preserve the ability to create such a system, the FDIC agrees that in the event the most suitable alignment for such a system requires the dedication of rights of way through property now owned by the FDIC, the FDIC and the Town shall cooperatively endeavor to locate such alignment so as to have the least possible adverse impact on the use or development potential of property now owned by the FDIC. Upon the location of an alignment mutually acceptable to the Town and the FDIC, the FDIC shall be required to dedicate those rights 32/DD8 -6- PAGE868 of way- through Parcels 11, 13, 16, 26, 27 and 29, as 6escr4bed in Ordinance 10, Series of 1987, as may be necessary for such alignment. The requirement to dedicate said rights of way is conditioned upon the final approval of all necessary governmental authorities and agencies of the aerial tramway system.. The dedication shall take place at a time and place mutually agreeable to grantor and grantee but no more than sixty (60) days after all approvals .have been obtained. H. Owl Creek Road Realignment Parcels. In order to facilitate the realignment of Owl Creek Road, the FDIC agrees to dedicate a sufficient right of way in the general location. of Parcels No. 7(a), (b) and (c), as shown on the Dedication Map. The exact location of each parcel shall be determined by mutual agreement between the parties. I. Snowmass Village Mall Parcels. In order to facilitate and encourage the upgrade and management of public and quasi -public areas and facilities in and around the Snowmass Village Mall, the FDIC agrees to convey land in which the FDIC has a record interest in the vicinity of the Snowmass Village Mall, generally identified as Parcel No. 8 on the Dedication Map. J. Parcel C Access. The FDIC and the Town agree to cooperate with each other and to grant reciprocal non-exclusive access easements to one another in order to accommodate the relocation of Kearns Road in the vicinity of the Snowmass Conoco, to provide access to property owned by the Town to the southwest of Kearns Road generally identified as Parcel No. 9 on the Dedication Map, and to provide access to Parcel No. 13, as described in Ordinance 10, Series of 1987. 2. Description of Parcels - Closing. The Town understands and acknowledges that the parcels to be conveyed, and the rights 32/DD8, -7- r1 ; PAGES69 Of wav to be dedicated, pursuant hereto liave not beef; surveyed and the convevances and dedications cannot be completed until either surveys or adequate metes and bounds descriptions have been prepared. It is contemplated that surveys may not be prepared until the FDIC sells or contract= to sell all or any part of the property now owned by it in Snowmass Village. -Kith respect to Parcels 'No. 1, 4 , 5, 6 , 7 (a) through ( c) , and 8 , as shown on Exhibit A, the FDIC agrees that, within ninety ;90) days hereof, it will prepare or cause to be prepared metes and bounds legal descriptions from information available at this time and to convey such parcels using such descriptions. The Town and FDIC agree that they shall amend any deeds conveying a parcel in advance of a survey to reflect the surveyed description cf such parcel, if necessary.* With respect to the remaining parcels, the FDIC agrees to prepare or cause to be prepared metes and bounds legal descriptions for each parcel at the time surveys are completed and to make the conveyances contemplated herein prior to, or simultaneously with, the closing of the sale of any or all of the parcels described in Ordinance 10, Series of 1987, which are or may be affected by the conveyances and dedications described herein. Subject to the foregoing, the times and places for closing of the conveyances and dedications provided herein shall be mutual!,- agreed upon by the Town and the FDIC. Notwithstanding the above, such closings shall not occur until after an exemption from compliance with the subdivision regulations of the Town has been granted. The Town shall be responsible for processing all subdivision exemption applications required to effectuate the transfers contemplated herein. 3. Merchantable Title. Except as may otherwise be agreed to by the Town, the FDIC shall convey the parcels described herein, at closing, by special warranty deed. Title to the parcels conveyed shall be merchantable in the FDIC and shall, at the time of closing, be free and clear of all monetary liens and all other liens or encumbrances which Gould render title 32/DDE -8- unmerchantable. Ad valorem taxes for the year of closing, and due in the subsequent year, shall be prorated to the date of closing. An ownership and encumbrance report prepared by Stewart Title Company of Aspen, Colorado, at the FDIC's expense, shall be prepared and furnished to the Town 15 days prior to closing for each of the above-described parcels. If title to any parcel is not merchantable, and if written notice of defect is given by the Town to the FDIC at any time prior to closing, FDIC shall use reasonable efforts to correct such defects prior to the date of closing. If the FDIC is unable to correct the defects on or before the date of closing, the date of closing shall be extended 30 days for the purpose of allowing the FDIC additional time to make such corrections. If title to any parcel shall not be rendered merchantable, then the FDIC shall be considered in default with respect to this Agreement as it affects such parcel and the Town shall have the remedies set forth below. 4. Remedies. Time is of the essence hereof. If the FDIC shall default in any of its obligations hereunder, the Town shall have the right to an action for specific performance or damages, or both. In the event cf any litigation arising out of this Agreement, the court may award to the prevailing party all reasonable costs and expenses, including reasonable attorneys' fees. 5. Restrictive Covenant/Short-Term LeaS1ncr. The FDIC agrees to prepare and record a restrictive covenant, in a form and substance acceptable to the Town Attorney, imposing the following restrictions: A. Rental of any dwelling unit constructed upon said Parcel No. 4 shall be for a term of not less than six (6) months. B. Except in the case of the initial developer thereof, no more than one lot within any subdivision approved for 3-/DD8 -9- E'Q;IrS 6~f P4GE f said Parcel No. 4 may be owned at any one time by any individual or entity or by the relatives, by blood or marriage, of any such individual, or by any corporation, partnership or other legal entity in which such individual holds an interest. C. During the six (6) months after any lot within a subdivision approved for Parcel No. 4 is first offered for sale, the seller thereof shall not enter into any contract for :_,ale with any prospective purchaser who is not a natural pe;.son and who is, or will be at the time of closing, employed on a full-time basis (more than 30 hours per week) in Pitkin County, Colorado. 6. Possession. Possession of each of the parcels de- scribed herein shall be delivered to the Town upon closing for each parcel. Expenses. Unless otherwise provided, each party hereto shall bear their own e::penses with respect to this Agreement. 8. No :.imitation on Municipal Authority. This Agreement is not intended as a limitation or restriction on the future exercise of legitimate governmental authority by the Town. No provision of this Agreement shall be construed to limit or prevent the Town from enacting any ordinance or regulation, from imposing any tax, from commencing any action in eminent domain, or from taking any action to protect, promote or defend the public health, safety or welfare. 9. Bindinq Effect. This Agreement shall run with and be considered as a covenant affecting the individual parcels described herein, and shall be binding upon -the parties hereto, their respective successors and assigns. More specifically, it is understood and acknowledged that the FDIC intends to sell all of the lands subject to this Agreement and, therefore, any reference to FDIC shall mean FDIC or its successors. No 32/DD8 -10- PAGES t modification of this Agreement shall be effective unless in writing and signed by both the Town and the FDIC, or their respective successors and assigns. Executed in duplicate originals the day and year above first written. ATTEST: Town Clerl r. 101114141. lilt' STATE OF COLORADO ) ss. COUNTY OF PITKIN ) THE TOWNSI'OW'I`iASS VILLAGE By: -- Richard G. Wall, Mayor FEDERAL DEPOSIT INSURANCE CC RPOF.ATI-DN B Lam,;, r , r .,. , r-.i; JOSEPH Pr UiP,11 10 SUPFrVISORY LiCUiC,°;i1 ;V SPECIALIST Acknowledged before me this 1st day of June f 1988 by Richard G. Wall, Mayor of The Town of S=, mass Village, Colorado, and Amber Harmon Town Clerk of The Town of Snowmass Village, Colorado. Witness my hand and official seal. x`.•' ;, My commission expires: ; I,: c; Z. LLI: Notary Public 4 STATE OF ss. COUNTY OF Acknowledged before me this day of 1988, by I -os as J c,q. 1-; of the Federal Deposit gnsuTance Corporation. r witness my hand and official seal. v MQommission expires: ' a..: Y, 56tary Public CF;; _ Notary " lw Yorn 32/DD8 -11- _ i;,C,4 IbJ Al kms M1tlON .OS ,t 3l' YY6l 'i AYW 3 OGVHOIOO `30VIIIA SSVWMOt 3snOHI00HO 13H, 31111 S -V 1181HX3 S311111OV:l 0118(' ppl i EXHIBIT A-4 IC FACILITIES LAND PARCEL - EMPLOYEE HOUSING W SA,DES Snowmass Village, Colorado DF.TE: MAY 2. 1988 SCALE: t' _ 700' 0' PUBLIC FACILITIES -EXHIBIT A-3 HIDDEN VALLEY 3Nr""MASS VILLAGE, COLORADO Y 2, 1988 50' NORTH 100 200 zZ:, i..sJ: C a Y4: u •1 t L O N V M Ut d v N O O r v 2 n U) p C+ 00 0 m m 3 n m m ro o 0o IR 0 n m C (D a m v v 3m ITI D m F m ca' cQ' p0 X D Q tv N n n n n cnca y Lo CLD) p n Rica Nn N m 7 0 d o a rt to cNOS m n ccN c D fD N 7to Ul