HomeMy WebLinkAboutFile Documents.1350 Mountain View Dr.0300.2017 (18).ARBKay runtcowarnw,a"vAmu"mr
A•P•G H•A
210 E. Hymen, suite fat • Aspen, CO 81611
970,9ao-mw • www.epcneuq
THIS AGREEMENT is made and entered into this 2"r, day of May 2018, by and between Kathryn
Frisch and Adam Frisch (hereinafter referred to as "Owner'), the CITY OF ASPEN, a Colorado municipal
corporation (hereinafter referred to as the "City"), and the Aspen/Pitkin County Housing Authority
(hereinafter referred to as the "APCHA").
RECITALS
I. Kathryn and Adam Frisch are the owners of the real property described as 1350 Mountain Veiew,
Drive, Aspen, Colorado, referred to herein as the "Property", and further described as Block I, Lot 3,
WEST MEADOW SUBDIVISION, County of Pitkin, State of Colorado. Such property is being or
has been developed or redeveloped by Owner.
2. Pursuant to Section 26.470.090, of the Aspen land Use Code, Owner has an obligation to satisfy the
affordable housing mitigation impact due to the development proposed. The required mitigation is
0.36 FTE's at Category 2 based on the calculations submitted by the Community Development
Department. The Owner is requesting deferral of this mitigation requirement based on Section
26.470.090.B.3.d.).
3. Owner has submitted evidence to the APCHA that is sufficient to establish that he/she is a qualified
"working resident" as that term is defined in the Aspen/Pitkin Employee Housing Guidelines and has
requested that his/her obligation to satisfy the mitigation requirement be deferred and adjusted as
stated below. APCHA has authorized deferral of said mitigation requirement.
NOW, THEREFORE, in consideration of the premises, the paries agree as follows:
I. Owner acknowledges his/her obligation to provide affordable housing mitigation in the amount
established by the rules and regulations in effect at the time of payment.
2. In accordance with Chapter 26.470 of the Aspen Land Use Code, the City agrees that the foregoing
obligation to provide affordable housing mitigation in the amount established by the roles and
regulations in effect at the time of payment or at such time as the Owner is no longer a qualified
working resident, or the Property is sold by Owner, or a subsequent owner who was a qualified
working resident at the time of acquisition, to a buyer who is not a qualified working resident ("non-
qualified buyer"). A qualified working resident is defined as:
Apersou who is employedby are employeras defined below to work a minimum of 1,500 hours p" calendar
year within Pitkin County, an ammge of35 hours a week, 16 months a year; or 31 hours a week, Il months a
year, Snch person must be w.*ixg in a Pitkin County location and must reside in the unit a mintmnns ofnine (9)
months out ofthe mlenderyear. All persons, including the self-employedmnst satisfy these requirements Persons
employed by businesses that do not qualify as Pitkin County Frnpluye s aart verify that thy perfomt 11,¢minimum
work requirements in a Ptikin County location.
In the event of such a sale, the mitigation requirement shall be due and payable on or before the date
of closing (the date on which the deed conveying title is recorded) and is payable concurrently with
REIT (Real Estate Transfer Tag). Nothing herein shall prevent or preclude Owner from satisfying
the mitigation requirement at any time.
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RECEPTIONM 647241, R: $18.00, D: $0.00
DOC CODE: AGREEMENT
Pg 1 of 2, 05/09/2018 at 11:39:31 AM
Janice K. Von Caudill, Pitkin County, CO
A, nNeva<«.nrHQ"ay Au IwMr
A• P•G H sA
210 B. Hyman, suite 202 • Aspen, CO 81611
970.920-6050 • we/wRpoM1a.or9
3. The Affordable Housing Mitigation required at this time is computed as follows, utilizing the current
Category 2 fee -in -lieu rate per FIE:
a. For the first 4,500 square feet of floor area of new structure, 0.16 employees are generated per
1,000 square feet of floor area.
b. Above 4,500 square feet of floor area of new structure, 0.36 employees are generated per 1,000
Square feet of floor area.
c. Fee Due: Baud on the information provided to APCHA by the Community Development
Department, the total mitigation for the project is 0.36 FIE's at Category 2; therefore, the
relitigation requirement may be satisfied by extinguishing 036 Category 2 FTE Housing
Certificate.
The actual calculation, however, shall be based on the Aspen land Use Code in effect at the time the
mitigation is due pursuant to the terms of paragraph 2, above.
4. This Agreement shall be recorded by the APCHA in the records of the Clerk and Recorder of Pitkin
County prior to issuance of a building permit Upon payment of the Impact Fee, the APCHA shall
execute and mind a release of the provisions hereof.
5. This Agreement shall be binding upon the parties hereto and their respective heirs, successors,
assigns, executors, and personal representatives.
OWNER(S): I
Kathryn FrLchAdam Frisch
1. Z
STATEOF 1()v- )
VS.
COUNTY OF �i },�l ✓l. )
The foregoing instrument was acknowledged before me this 2ii day of May 2018, by Kathryn Frisch
and Adam Frisch.
Witness myrnan £ expires:
NOTARY PUBLICSTATE or COLORADONOTARY ID 819824008051y canmlulon Elgme w-22-2020 Notary Publy
CITY OF ASPENCASP lPITKIN HOGS G AUTHORITY
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Ie ica arrow, ty Community Dev. Director Michael A. I��sleMotive
Director
ArrWN k Housing IBfe,M Agreement PW2