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Town Council Resolution 72 1983D", qq r wivuvr�lry WMILfi l lulu. TOWN OF SNOWMASS VILLAGE TOWN COUNCIL RESOLUTION NO. 72 SERIES OF 1983 [TH CONDITIONS, THE COMBINED PRELIMINARY AND FINAL THE WILDWOOD GROUP, LTD. FOR THE PURPOSE OF WHEREAS, an application for combined preliminary and final subdivision approval has been submitted by the Wildwood Group, Ltd. (Applicant) in accordance with the provisions of Town Council Resolution No. 79, Series of 1981, and the Snowmass Village Land Use Code; and WHEREAS, the Applicant's purpose and intent in seeking final subdivision approval is the conversion of a previously developed property known as the Wildwood Inn from single ownership to condominium ownership; and WHEREAS, the Snowmass Village subdivision regulations require final subdivision approval for the creation and sale of condominium units; and WHEREAS, the Applicant has made the following representations which have been relied upon by the Planning Commission and Town Council in approving this application: 1. That the Applicant shall substantially upgrade the existing facilities including, but not limited to, improvement to the lobby, reconstruction of the restaurant, improvements to meeting and conference room spaces and improvements to each hotel/condominium unit as more particularly described in the letter which has been attached hereto and is made a part hereof by this reference as Exhibit A. 2. The Applicant has agreed to participate in the reconstruction and upgrading of Elbert Lane in accordance with the Agreement which is attached hereto and made a part hereof by this reference as Exhibit B. 3. The Applicant has agreed that despite the creation and sale of individual hotel rooms as condominium units, the Wildwood Inn will continue to be operated as a hotel with individual rooms being available for rent to the public on a nightly basis. 4. The Applicant has agreed to upgrade and maintain a sufficient number of employee housing units on the premises. WHEREAS, the Town Council has determined that the conversion of hotel rooms to condominium ownership, without adequate and enforceable commitments to upgrade, to continue operating in the manner of a hotel and to provide for employee housing would be contrary to the public interest and to Master Plan goals due in part to an anticipated net loss of relatively inexpensive tourist accommodations and to an anticipated net loss in sales tax revenue. Accordingly, the approval of this application should not be considered as a precedent in favor of the conversion of hotel rooms to condominium ownership; and WHEREAS, the Town Council approved the conceptual application for subdivision approval in its Resolution No. 27, Series of 1983; and WHEREAS, a joint public hearing of the Town Council and the Planning Commission was held on September 26, 1983; and WHEREAS, the Planning Commission has recommended approval of the combined preliminary and final application, with conditions, by its Resolution No. 17, Series of 1983. NOW, THEREFORE, BE IT RESOLVED by the Town Council of the Town of Snowmass Village, Colorado: Section One. Findings. 1. The Town Council hereby finds that the application of the Wildwood Group, Ltd. for the combined preliminary and final approval is consistent with the provisions of the Snowmass Village Master Plan and the land areas contained in the application are suitable for subdivision pursuant to the evaluation standards set forth in Town Council Resolution No. 79, Series of 1981. 2. The Town Council finds that the Applicant has complied with the submission data and procedural requirements of its Resolution No. 79, Series of 1981. 3. The Town Council finds that the conditions of conceptual approval set forth in its Resolution No. 27, Series of 1983, have been met. Section Two. Conditional Approval. The Application for Preliminary and Final Subdivision Approval of the Wildwood Group, Ltd., is hereby approved subject to the following conditions: 1. That the Applicant shall convey seven individual condominium units (designated on the proposed condominimum map as employee units) to the Condominium Association contemplated in the proposed condominium documents at the time of or prior to the conveyance of the first unrestricted unit. In addition, the Applicant shall execute and record a use restriction which restricts the use of the employee units to occupancy by employees of the Wildwood Inn or persons employed in Snowmass Village, and which provides further, that the rent charged to such occupants shall be consistent with rents charged for similar restricted housing in Snowmass Village. The form of deed and use restrictions shall be submitted to and approved by the Town Attorney prior to the conveyance of the first unrestricted unit. 2. Since the purpose of subdivision approval is the creation of condominium interests, no final plat in conformance with the appropriate provisions of the Land Use Code is required. Instead, the condominium map required by State law shall include appropriate language evidencing approvals by the Planning Commission and the Town Council. Further, since final condominium approval is conditioned upon review and acceptance of the final condominium documents by the Town Attorney prior to their execution by chairman of the Planning Commission and the Mayor. -2- 3. As an inducement to the Town Council for approval of the requested condominiumization, the Applicant has committed to upgrade the existing Wildwood Inn hotel rooms. The Applicant has agreed to expend at least $300,000.00 (an average of $2,000.00 per unrestricted unit) in the accomplishment of the upgrade objective in accordance with the provisions of Exhibit A. The Town Council has relied upon such commitment in approving the requested conversion to condominium ownership. Accordingly, as a condition of this approval, the Applicant shall complete the upgrading of each individual condominium unit within six (6) months of its sale and shall complete the upgrade of all condominium units within twelve (12) months after the sale of 60% of such units. In addition, the Applicant shall provide the Planning Office with copies of receipts or such other information as the Planning Office may reasonably request in order to verify expenditures and conformance with this provision. 4. It is the Town's understanding that the designation of certain condominium units as "limited commercial units" in the Condominium Declaration or on the Condominium Map has been done by the Applicant to distinguish these units from residential units and that such designation and characterization is not intended to and does not confer upon the Applicant or the subsequent owner of such units any use rights or privileges beyond those authorized by the SPA zone district in which such units are located. The Applicant has indicated his understanding that only those uses to which the particular units have been devoted prior to the adoption of the current SPA zone designation may be continued, those being office space and meeting rooms. 5. In order to insure that the contemplated Condominium Association has sufficient office space to operate efficiently, the Applicant shall convey two limited commercial units presently being utilized as office space (limited commercial units # C-/ and # e-.�- on the proposed condominium map) to the Association at the time of or prior to the conveyance of the first unrestricted residential condominium unit. In addition, the Applicant shall grant to the Association, for a period of ten years from the date of conveyance of the first unrestricted residential condominium unit, a Right -of -First Refusal to acquire the remaining limited commercial units at a price equal to 75'percent of their appraised value. The form of Deed and Right -of -First Refusal shall be submitted to and approved by the Town Attorney prior to the conveyance of the office space units described above. INTRODUCED, READ AND ADOPTED by the Town Council of the Town of Snowmass Village, Colorado, on this 21st day of November , 1983, by a vote of 7 to 0 . ATTEST: Susa�nG a own er TOWN OF SNOWMASS VILLAGE, COLORADO Je ferson ippett, Mayor -3- Ms. Sue Chesler Planning Office TOWN OF SNOWMASS VILLAGE Snowmass Village, Colorado Re: Wildwood Inn Condominiumization Dear Sue: AREA CODE 303 TELEPHONE 20-1700 TELECOPIER 920-1121 This letter is to confirm Wildwood Group Ltd.'s under- standing of its upgrading commitment, which commitment is a condition to the approval of condominiumization of the Wildwood Inn by the Town of Snowmass. I believe that our understanding is as follows: 1. The Wildwood Group Ltd. agrees to expend $300,000.00 toward upgrading the residential condominium units contained within the Wildwood Inn Project. 2. Since the condition of the rooms varies consid- erably, it will not be necessary to equally the divide the $300,000.00 between each of the rooms; more may be expended for certain rooms while a lesser amount is expended on others. 3. Each room must be upgraded no later than six months following the successful closing of such condominium units. 4. Within twelve months following the closing of the sale of sixty percent of the residential units, the entire $300,000.00 must have been expended. I believe that the foregoing sets forth our basic under- standing in regard to the $300,000.00 upgrading commitment. As Alan has consistently expressed, it is his intent for the Wildwood to be run as a top quality hotel. Consequently, I think that the Town will be satisfied with the upgrading of the facil- ities. EXHIBIT A LAW OFFICES OATES, I-IUGHES & KNEZEVICH PROFESSIONAL CORPORATION THIRD FLOOR, ASPEN PLAZA BUILDING 533 EAST HOPKINS AVENUE LEONARD M.OATE5 ASPEN, COLORADO 81611 ROBERT W. HUGHES RICHARD A. KNEZEVICH DEBORAH QUINN November 8, 1983 BRADLEY S.ABRAMSON Ms. Sue Chesler Planning Office TOWN OF SNOWMASS VILLAGE Snowmass Village, Colorado Re: Wildwood Inn Condominiumization Dear Sue: AREA CODE 303 TELEPHONE 20-1700 TELECOPIER 920-1121 This letter is to confirm Wildwood Group Ltd.'s under- standing of its upgrading commitment, which commitment is a condition to the approval of condominiumization of the Wildwood Inn by the Town of Snowmass. I believe that our understanding is as follows: 1. The Wildwood Group Ltd. agrees to expend $300,000.00 toward upgrading the residential condominium units contained within the Wildwood Inn Project. 2. Since the condition of the rooms varies consid- erably, it will not be necessary to equally the divide the $300,000.00 between each of the rooms; more may be expended for certain rooms while a lesser amount is expended on others. 3. Each room must be upgraded no later than six months following the successful closing of such condominium units. 4. Within twelve months following the closing of the sale of sixty percent of the residential units, the entire $300,000.00 must have been expended. I believe that the foregoing sets forth our basic under- standing in regard to the $300,000.00 upgrading commitment. As Alan has consistently expressed, it is his intent for the Wildwood to be run as a top quality hotel. Consequently, I think that the Town will be satisfied with the upgrading of the facil- ities. OATES, HUGHES & KNEZFVICH, P. C. Ms. Sue Kessler Page 2 October 31, 1983 In the event that you have any questions in regard to the foregoing or if we are not in accord as to our understanding, please give me a call. Thank you very much for your cooperation in this matter. Best Regards, OATES, HUGHES & KNEZEVICH By. Ri and vich RAK:jaa cc: Alan Shaffer snowinam Snowmass Resort Association Box 5566, Snowmass Village, Colorado 81615 (303)923-2000 July 12, 1983 Mr. Ralph Clock Pitkin County Investment Corp. 17092 Pullman Street Irvine, CA 92714 Mr. Alan Shaffer P.O. Box 9789 Aspen, CO 81611 Mr. Ken Sontheim The Snowmass Company P.O. Box 5000 Snowmass Village, OD 81615 RE: ELBERT LANE AGREEMENT Gentlemen: Thank you all very much for your participation and energy in the resolution of the Elbert Lane issue, We have an equitable agreement which is delineated below. This document is intended to be a letter of agreement only representing the consensus solution. The division of responsibility fiscally is based cn Kurt Culbertson's plan of which everyone has a copy. The areas of responsiblities have been divided into six portions; a percentage of each portion is outlined below with the cost in 1982 dollars. AREA 1: SRA responsibility (100%) $16,500 AREA 2: SRA 28.50 20,100 Snowmass Company, Limited 28.5% 20,100 Wilwood 33% 23,600 Silver Tree 10% 7,100 AREA 3: SRA 33% 13,500 Snowmass Company 33% 13,500 Silver Tree 33% 13,500 AREA 4: SRA responbility (100%) 4,700 (small area between Wildwocd & Conf.Center) AREA 5: Snowmass Company, Limited (100%) 8,400 ( immediately in front of bldg. L) AREA 6: Snowmass Mall responsibility (100%) 19,000 (roof top over Mall) Mr. Ralph Clock Mr. Alan Shaffer Mr, Ken Sontheim July 12, 1983 Page 2 Gentlemen, this represents our conceptual agreement. Flow of funds, under runs, bid packages, and other issues will be addressed at a future date when time frames are more definite. Again, thank you for your ener and cooperation, we look forward to working with all of you many Imes in the future in the same spirit. Would each of you please 1Qrnwhere indicated below and return a copy to our offices f ret ntion!% General Manager Kr,^1/Jg cc: Kurt Culbertson Wayne Ethridge Tim Merritt Rad h Clock ,, an 8haffer �J1V-DWOOP& Ken Sontheim