HomeMy WebLinkAboutC03-069 Town of Vail IGAFeb=18-2003 03:02pm From-EAGLE COUN~TTORNEY OFFICE 8703288688 ~ T-138 P.003/007 F-157
YNTERGOVERNIVIENTAL AGREEMENT
$ETWEEN
TYiE COUNTY OF EAGLE, STATE OF COLORADO
AND
THE TOWN OF VA1L, STAT1; Or• COLORADO
CONCERNING MII,LER RANCH HOUSING
ERGO'V'ERNMENTAL AGREEMENT is made and entered into
this j~day of 003, by and between the County of Eagle, State of Colorado, a body
corporate and politic, by and through its Board of County Commissioners (hereinafter the
"County"), and the Town of Vail, State of Colorado, a municipal corporation, by and through its
Town Council (hereinafrer the "Town'.
RECYTA .
The parties recite and declare as follows:
1. By Intergovernmental Agreement dated Octotrer 25, 1999, ("IGA' the Town and
the County agreed to work together to develop employee housing on what is now known as Tract
D, Berry Creek/ Miller Ranch Planned Unit Development, I_agle County, Colorado (the
"Proper'); and
Z. In that IGA the Town agreed to participate i a the development of employee
housing on the Property and to pay fifty percent (50%) of the costs associated with the
development and construction of employee housing on the Property. Pursuant to the terms of
that IGA the Town and the County were each entitled to designate the rules for sale or rental of
50% of the Units.
3. The Town and the County now desire to redefine their relationship and enter into
this new agreement the terms of which shall control their relationship with respect to employee
housing to be developed on the Property.
4. County is presently the owner of the Pmpeny which is to be developed by Berry
Creek Limited Liability Company pursuant to the terms of a Development Agreement dated
March 12, 2002 (°`Development Agreement") and the terms of a Land Lease and Option
Agreement ("Option Agreement") dafied August 20, 2002. Tt is anticipated that Berry Creek
Limited Liability Company will construct 282 units consisting of mill lofts, row houses, duplexes
and single family homes on the Property in three phases. $erty Creek Limited Liability
Company will then sell the units to qualified buyers pursuant to the terms of a deed restriction
and corresponding guidelines.
5 • Each party has the authority to enter into and execute this Agreement.
Feb=18-2003 03:02pm From-EAGLE COUN~TTORNEY OFFICE 8703288688 ~ T-138 P.004/007 F-167
NOW, THEREFORE, in consideration of the mutual covenants and promises of the
parses hereto, the receipt and. sufficiency of which is hereby acknowledged, the County and the
Town agree as follows:
1. The IGA dated October 25, 1999 between Eagle County and Town of Vail is
hereby t~~n~ted and the terms of that IGA shall no longer control or govern the relationship
between the parties concerning the Property.
2. County shall pay to Town $1,000,000 within two weeks of appmpriatioa of the
funds and adoption of a supplemental budget by the Board of County Commissioners. Such
payment shall represent full and .final. payment to Town by Couary. Town hereby waives its right
to receive any other monies from County in association with the Property or sale of the units.
Such waiver includes any fitrids which might have been, are now or in the future maybe due to
Tows under that certain Development Agreement dated March 12, 2002 between County and
Berry Creek Limited Liability Company and under the terms oFthe Land Lease and Option
Agreement dated August 20, 2002, between County and Bevy Creels Limited Liability Company.
3. Town hereby waives its right to receive any sums from the development as set
forth in paragraph 2 hereof and the Town shall not be required to contribute to the development
or pay any porCion of the development costs associated with the Property unless otherwise set
forth in a subsequent agreement between the parses.
4. Eagle County shall, without interference from Town, implement and adm~iuister
its Deed Restriction Agreement for the Occupancy and Resale of Miller Ranch 1"Yousing
("Master Deed Restriction'~and the Miller Ranch Housing Guidelines ("Cruidelines'~ on all ututs
constructed on the Property. Such Master Deed Restriction and Guidelines maybe amended from
time to time as necessary to obtain Fannie Mae approval and as permitted in those documents.
fiagle County shall provide copies of formally adopted Restrictions and Guidelines to Town.
5. Eagle County will make best efforts to place (lualified Buyers who are employed
within the Town in one-half of the units on the Properly pursuant to the terms of this Agreement
and as set forth in this paragraph 5. Specifically, upon resale the units will be rotated such that
the first unit that becomes available for sale will be a County unit, the second. unit 'which
becomes available for sale shall be a Town unit, the third a County unit and cogtinuing in such a
rotating pattern. When a Town unit becomes available in the rotation, the County shall utilize its
preference and lottery process which is based upon longevity and employment within Eagle
County. Eagle County shall assign a preference of five points for applicants who are employed
within the Town of Vail sad who apply for a Towa unit in addition to other points as applicant
naay otherwise receive under the Guidelines. The Town unit shall then be sold to the highest
ranking employee whether employed within the County or the Town. The five point preference
for Town employees shall not be applied to the lottery process for County units.
During the initial sales process, units are released far sale by Berry Creek Limited
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Feb=19-2003 03:02pm From-EAGLE COUN~TTORNEY OFFICE 9703298689 ~ T-139 P.006/007 F-167
Liability Company in groups. Thus it is agreed that the rotation of individual units set forth above
shaA not apply to initial sale, but rather to resale of individual units. Yt is understood by the
parties that at the time of entering into this Agreement that Sorry Creek Limited Liability
Company has conducted its first lottery with respect to the first release of Miller Ranch units.
ferry Creek Limited Liability Company conducted that lottery with the goal of preserving the
fifty/fii~y split of units. It is unde~tood and agreeed that Berry Creek Limited Liability Company
will continue to conduct the initial sales process by applying the lottery criteria set forth in the
Guidelines with a goal, but not a guarantee, of placing applicants employed within the Town is
one-half of the units.
6. County agrees that Ten of the Towa of ~/ai] units shall be reserved for the Eagle
River Water and Sanitation District (°`District'~ and its employees. The District or its employees
shall be entitled to purchase from the initial sales as follows: one mw house, one mill lob and.
one %x duplex in Phase I; one row house, one mill loft and one %i duplex in Phase II; and one mill
loin, one rovc- house, one %z duplex snd one single family home in Phase IlI. The specif c units
allocated to the Eagle River Water and Sanitation District in each phase shall be the last of such
unit type offered for sale in each phase. District shall not be allocated the last of such unit type is
each phase if such unit type has been previously purchased in that phase by a qualified District
employee through the lottery process .Upon purchase of the foregoing ten units by District or its
employees the same shall be known as the "bistrict Units". In the event the District or its
employees do not elect to purchase the foregoing units during the initial sales process, such units
shall become part of the pool of units available to qualified btryers and shall not be considered
District Units.
7. The District Units may be purchased by employees of the District or the District
with a Baal of housing its employees. District units may also be sold to other qualified buyers.
Couatty has no objection to the Eagle River Water and Sanitation District being offered an
opportunity to purchase a District Unit in compliance with the Master Dpi Restriction and
Guidelines before sale to another qualified buyer. If the District elects not to exercise its right to
purchase, and. there is no qualif ed District employee to purchase, such unit shall become part of
the pool of units available to aU otlieT qualified buyers on a rotating basis and the unit shall no
longer be considered a District Unit:ln the event of ownership by the District, the District shall
rent to qualifa.ed buyers and it is the strong goal to have all units owned by qualified buyers.
To ensure the successful performance of the terms of paragraphs 6 and 7 her~f, it
shall be the sole obligation of the Town to arrange for We preparation of an option to purchase to
secure the District's rights and obligations hereunder which may be recorded against the District
Units and shall be accepted and approved by the bistrict. The same shall contain the terms and
conditions as set forth herein and shall be subject to review and approval by County prior to
recording.
S. The sale sad resale of all Units shall comply with the Master Deed Restriction
and Guidelines affecting the Property. Third parties may not impose more restrictive or different
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Fe'E-18-2003 03:OZpm
requirements.
From-EAGLE COU~TTORNEY OFFICE 8703ZA8688 ~ T-138 P.006/007 F-167
9. The County and the Town hereby respectively designate the following individuals
to receive nay notice required under this Agreement which shall be sent by fax and regular or
certified mail, postage prepaid as follows:
COUNTY: Eagle County Attorney
P. O. Bo~c 850
Eagle, C0 81631
(970) 328-8685
(970}328-8699 (fax)
TORN: Tows Attorney
Town of Vail
75 South Frontage Road W eat
Vail, CO 81657
(970)479-2107
(970)479-2157(fax)
10. No modification or waiver of this Agreement or of any covenant, condition or
provision herein contained shall be valid unless in writing and duly executed by all of the parries
hereto.
11. This written agreement embodies the whole agreement between the parties hereto,
and there are no inducements, promises, terms, conditions, or obligations made or entered into by
any of the parties hereto other than those contained herein.
12. This Agreement shall be binding upon the parties hereto, their respective
successors or assigns, and may not be assigned.
13. All agreements and covenants herein are severable, and. in the event that any of
them shall be held invalid by a court of competent jurisdiction, this Agreement shall be
interpreted as if such invalid agreement or covenant were not contained herein.
14. The Town has represented to the County a.ad the County has represented to the
Town that each possesses the legal ability to enter into this Agreement. In the event a court of
competent jurisdiction determines that either of the parties hereto did not possess the legal ability
to enter into this Agreement, this Agreement shall be considered cull and void as of the daze of
such court determination.
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Fe~r19-2003 03:04pm From-EAGLE COU~TTORNEY OFFICE 9703298688 ~ T-138 P.007/007 F-167
Il~ WTTI~TESS VVT~REO~', the parties hereto have executed this Agreement the day and
year first above written.
~ ~ e~
ATTEST:
cot~osA~o
Teak L. Simonton, Clerk to the Board of
County Commissioners
TOWN OF VAIL, STATE OF
COLORADO, By and Through Its
ATTEST: TOWN COUNCIL
~ ,<
Clerk T~'t11e Town Council~~-~
$ ~. ~ ~-_
Y~
Its: oc.~'1 Ib,.t re./'`
5
TY OF EAGLE, STATE OF
R.ADO, By and Through Its
D OF COUNTY COM1VlISSIONERS
