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TC Reso 34 1988 - Ded of Parcel 'C' for Emp Housing Credits - SIGNED.pdfi TOWNOFSNOWMASSVILLAGE TOWNCOUNCIL RESOLUTIONNO 34 SERIESOF1988 A RESOLUTION ACCEPTING THE DEDICATION OF LAND TO THE TOWN OF SNOWMASS VILLAGE AND GRANTING EMPLOYEE HOUSING CREDIT FOR THE FARAWAYRANCHPLANNEDUNITDEVELOPMENT WHEREAS the Town Council adopted Ordinance 22 Series of 1984approvingtheFarawayRanchPlannedUnitDevelopment and WHEREAS the approval of theproject requiredMount Baldy Investors Applicant toprovide59unitsofrestrictedhousing and50seasonalhousingunitsforemployeesoftheVillageand WHEREAS in exchange for credit for a portion of the required employee housing the Town of Snowmass Village Town desires to acquire Parcel C of the Faraway Ranch PlannedUnit Developmentinordertoconstructemployeehousing NOW THEREFORE BE IT RESOLVEDby theTown Council of the TownofSnowmassVillage Colorado Section One The Town shall accept from Mount Baldy Investors a Colorado joint venture a conveyance of the fee title to Parcel C Faraway Ranch Specially Planned Area accordingtotheGrossParcelPlatthereofrecordedinPlatBook 17 at Page 5 of the real property records of Pitkin County Colorado together with perpetual nonexclusive easements and rightofwayforaccessandundergroundutilitypurposesoverand across 1 thatcertainEasement1asgrantedanddescribedin theDeedofEasementrecorded inBook254 atPage 545 and 2 thatportionofthe60footwidereservedeasement inExisting Snowmass Center Parcel Faraway Ranch Specially Planned Area whichcommencesatthenortherlyterminusofsaidEasement1 and then continues in a northwesterly direction to a point of intersectionwith the commonboundarybetween Parcel C and the ExistingSnowmassCenterParcel FarawayRanchSubdivisionand SectionTwo Thatuponthedeliveryofsuchconveyanceto theTownandtherecordingthereofinthePitkinCounty Colorado realproperty records MountBaldy Investors andits successors or assigns in the ownership of all or any portion of Faraway RanchSpeciallyPlannedAreashallbedeemedautomatically fully andforeverrelievedofanyobligationtobuild51mixedemployee units as approved on said Parcel C Faraway Ranch Specially PlannedArea asdescribedontheFarawayRanchSpeciallyPlanned Area Final LandUse Plan recorded inPlat Book 17 at Page 4 which 51 unitsareherebyacknowledgedtoincludeanyremaining employeehousingcommitmentorresponsibilityarisingoutofThe 4l RidgecondominiumsprojectPhasesIandIIand wonThree Thatupontherecordingofsuchconveyance totheTowntheTownitselfshallthereafterberesponsiblefor theconstructionofthesubject51unitsorsuchotheremployeeunitsastheTownmaydeterminetobeappropriateonParcelCsand Section Fourr The Town hereby expressly recites and acknowledgesthatfollowingtherecordingofsuchconveyancetotheTowntheonlyremainingemployeehousingobligationsassociatedwithFarawayRanchSpeciallyPlannedAreaaretheSo seasonal rooms and the 8 mixed employee units on Parcel NFarawayRanchSubdivisionItisherebyacknowledgedthattheseunitsshallbeprovideduponcommencementofanyconstructiononParcelKoftheFarawayRanchSPA INTRODUCEDREADANDADOPTEDbytheTownCounciloftheTown ofSnowmassVillageColoradoonthe6thdayofJune1988by a voteof7to0 TOWNOFSNOWMASSVILLAGE RchardGWall ATTEST 06whnVwao AmberHarmonTownClerk