HomeMy WebLinkAboutC08-016
DEVELOPMENT AGREEMENT -VESTED RIGHTS
FOR
EMMA FARMS SUBDIVISION
THIS AGREEMENT is made this ~ay of January, 2008, by and between the Board of
County of Commissioners of Eagle County, a political subdivision of the State of Colorado (the
"County"), and Emma Farms, LLC and SW Enterprises LLC, Colorado limited liability companies
(collectively, the "Developer").
RECITALS:
A. Developer is the owner of approximately 106 acres of real property situated in the
County of Eagle, State of Colorado, more particularly described on the Final Plat of Emma Farms
recorded in the office of the Clerk and Recorder of Eagle County, Colorado, on January 11, 2008 at
Reception No. 200800849. In this Agreement, the property described on the above-referenced Final
Plat shall be referred to as "Emma Farms."
B. Developer applied to the County for various land use approvals in order to develop
Emma Farms as a residential subdivision.
C. The County approved a Subdivision Preliminary Plan (SUP-00009) and Zone Change
(ZC-00083) for Emma Farms on August 29, 2006, as recorded in the office of the Clerk and Recorder
of Eagle County, Colorado at Reception No. 200628167; the Subdivision Improvements Agreement on
December 4, 2007 and recorded on January 8, 2008 at Reception No. 200800550; and approved the
Final Plat of Emma Farms (SUF-00022) on December 4, 2007 (collectively the "Land Use Approvals ")
and recorded on January 11, 2008 at Reception No. 200800849.
NOW, THEREFORE, in consideration of the premises and the terms and conditions herein
stated and for other valuable consideration, the adequacy of which is acknowledged by the parties
hereto, it is agreed as follows:
1. Intent. It is the intent of the parties that this Agreement shall constitute a development
agreement as referenced in C.R.S. § 24-68-104 for the purpose of establishing vested property rights as
defined therein for a period of twenty (20) years.
2. Right to Development/Vested Pro e~rty Ri ts.
(a) Developer and its successors and assigns shall have the right to undertake and
Complete development of Emma Farms and the residences and facilities described in the Land
Use Approvals, and to use, occupy, sell, encumber or lease Emma Farms and its facilities
subject to the terms and conditions of the Land Use Approvals and this Agreement. Such rights
shall vest in the Developer, and its successors and assigns, as benefits and shall run with title to
the land. The Land Use Approvals, including the Final Plat, constitute a "Site Specific
Development Plan" pursuant to C.R.S. § 24-68-101, et seq.
(b) The development rights and uses described in this Agreement and/or included
in the Land Use Approvals are vested for a period of twenty (20) years from the date of the
County's approval of the Subdivision Preliminary Plan and Zone Change referenced in
Recital C, above, on August 29, 2006. During the 20-year vesting period ending August 29,
2026, Developer and/or its successors or assigns shall not be subject to any addition,
modification or amendment to the Eagle County Land Use Regulations or to any other
regulation not in effect on the date of vesting, except as provided in paragraph 3(c), below.
(c) Notwithstanding any other provision of this Agreement, no provision hereof
shall be construed to exempt Developer or any future owner or owners of Emma Farms from
the requirements of the Land Use Approvals, including the terms and conditions of the Final
Plat, or requirements for building and other permits necessary for development of Emma
Farms. The provisions hereof shall not be construed to preclude the application of the
Uniform Building Code, Fire Code, Plumbing Code, Electrical Code, Mechanical Code, or
other requirements which constitute ordinances or regulations which are general in nature and
are applicable to all properties subject to land use regulation by Eagle County consistent with
C.R.S. §24-68-105(2).
3. Amendment. This Agreement may be amended only by written instrument signed by
the County and the Developer.
4. Binding_Effect. This Agreement shall be binding upon and shall inure to the benefit
of the parties hereto and their successors and assigns.
1N WITNESS WHEREOF, the parties have caused this Agreement to be signed the date and
year first written above. ~~
BO OF COUNTY COMMISSIONERS EM F ,
OF G COUNTY, COLORADO a Col ra o li ite 'abi ' com
By: By:
Nam • ~:2r `M~>r~Loti--- Tom aldeck, Manager
Title: C'~~.QL,A,.e,._.~
SW ENTERPRISES LLC,
a Colorado limited liability company
By: /.~
Steven Waldeck, Manager
G:\Client\Waldeck, Tom\Development Agreement 121707.wpd
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