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HomeMy WebLinkAboutR93-077 allocaiton of 34 employee housing credits to Arrowhead for Lake CreekCommissioner moved adoption of the following solution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 93- !I/ r/ AUTHORIZING THE ALLOCATION OF THIRTY FOUR PUD EMPLOYEE HOUSING CREDITS TO ARROWHEAD FOR THEIR PARTICIPATION AT THE LAKE CREEK APARTMENT PROJECT WHEREAS, The Board of County Commissioners (hereinafter referred to as the "BOCCI'), pursuant to the Eagle County Land Use Regulations Section 2.06.13 (3)(e), has the authority of final approval of any Planned Unit Development (hereinafter referred to as "PUD") and to require the applicant to establish satisfactory employee housing; and WHEREAS, Arrowhead is an applicant for the purposes of this resolution by their agreement in the participation of the funding of the Lake Creek Apartment Project in Edwards, Colorado (hereinafter referred to as "Lake Creek "); and WHEREAS, each Lake Creek employee housing unit shall equal one credit toward the Arrowhead PUD; and WHEREAS, Arrowhead's participation in Lake Creek shall earn 34 PUD employee housing credits towards the Arrowhead PUD at its current stage of development, and that these 34 PUD credits cannot be transferred or sold; and WHEREAS, it is understood and agreed upon that Arrowhead will not be credited any portion of the 34 PUD credits until the funding for Lake Creek is complete; and WHEREAS, it is agreed upon between the County and Arrowhead that any PUD credits that exceed the current PUD requirements for Arrowhead, if any, may be used for future PUD requirements relating to the Arrowhead PUD only; and WHEREAS, it is agreed upon and understood by the BOCC and Arrowhead that the above referenced PUD requirements are current but may be subject to change in the future depending on further development by Arrowhead. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF EAGLE COUNTY, COLORADO, AS FOLLOWS: THAT, Arrowhead be awarded 34 PUD employee housing credits towards the Arrowhead PUD conditioned upon the completed funding of Lake Creek. THAT, the Board finds, determines and declares that this Resolution is'necessary_ for the public health, safety-and welfare of the citizens of the County of Eagle, State of Colorado. MOVED, READ AND ADOPTED by the Board of County Commissioners of the County Qt Eagle, State Colorado, at its regular meeting held the day of , 1993. Commissioner foregoing reso follows: Commissioner George A. Gates Commissioner Johnnette Phillips Commissioner James E. Johnson, Jr. -e— This Resolution passed by �—� vote of the Board of County Commissioners of the County of Eagle, State of Colorado. arrowhea.pud 2