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Home My WebLink Aboutcoa.lu.pu.Aspen Highlands.A05601 ~ CASE NUMBER PARCEL ID # CASE NAME PROJECT ADDRESS PLANNER CASE TYPE OWNER/APPLICANT REPRESENTATIVE DATE OF FINAL ACTION CITY COUNCIL ACTION PZ ACTION ADMIN ACTION BOA ACTION DATE CLOSED BY h A056-01 Highlands PUD Amendment Highlands Village, Building #8 Steve Clay/James Lindt PUD Amendment Hines Highlands Glenn Horn App, Withdrawn 8/24/01 J. Lindt Fi. --";'1'") _'Ii" 5V1 s (:/ q. PI' Z- / h &v.~C-/'j __ V'e ccrovvt ~V\ 0{ c/LL V1J q I -/+pp! I'~Q -h~ VI kXffldfovJvt ~~es Wrif V\ . 'B ,.;, ~ -:q ("', ~'" w; Davis Horn~c;. PLANNING & REAL ESTATE CONSULTING May 22, 2001 James Lindt City of Aspen Community Development Department 130 South Galena Street Aspen, Colorado 81611 Re: Aspen Highlands Village Planned Unit Development: Insubstantial PUD Amendment to Change the Deed Restriction of Two Three Bedroom Category 3 Dwelling Units Located in Building # 8 Dear James: Davis Horn Incorporated represents Hines Highlands Limited Partnership (applicant) in this request for an Insubstantial Amendment to the Aspen Highlands Village Planned Unit Development (AHV PUD). The applicant is seeking an insubstantial PUD amendment to change two three bedroom affordable housing units located in Building # 8 from category 3 sale units to category 3 rental units. Attachment 1 depicts the AHV PUD Final Plat. Building # 8 is located in Block D. Attachment 2 depicts the location of Building # 8 within Block D. Building # 8 contains tourist accommodations units and seven Category 3 3BR sale units which were conveyed to the Ritz Carlton Development Company Inc. (hereinafter Ritz Carlton) as part of the acquisition of Building # 8. Ritz Carlton is in the process of selling five of the affordable housing units to qualified buyers selected by the Aspen/Pitkin County Housing Authority (hereinafter Housing Authority). The initial purchasers of the remaining two affordable housing units may be selected by Ritz Carlton. This land use application explains the background affordable housing units approval process and compliance with the Aspen Land Use Regulations. regarding the demonstrates BACKGROUND Board of County Commissioners Resolution 97-167 granted Aspen Highlands Village Detailed Submission approval. The Resolution establishes that the September 1997 Aspen Highlands Village: Detailed Submission Consolidated Plan (hereinafter the Plan) constitutes the Site Specific Development Plan for the AliCE DAVIS, A1CP I GLENN HORN, A1CP 215 SOUTH MONARCH S1. . SUITE 104 . ASPEN, COLORADO 81611 . 970/925.6587 . FAX: 970/925.5180 "' ~ ("". 1""""'\ j James Lindt May 22, 2001 Page 2 "Hines, AHV and Aspen Ski ing Company reserve the right to sell four of the dwelling units in the Thunderbowl and Maroon Neighborhoods, four three bedroom uni ts located in the Village core and two of the one bedroom units to qualified Hines, AHV or ASC employees. The first time the units are sold they will be offered to qualified Hines, AHV or ASC employees. Upon the subsequent sales, the units will be first offered to qualified Hines, AHV or ASC employees and then any qualified employee (emphasis added) . " Two of the "discretionary" three bedroom units are located in Building # 8. Attachment 4 is the Occupancy and Rental/Resale Deed Restriction and Agreement for Apsen Highlands Village Affordable Housing (Agreement). Page 12 of the Agreement indicates that the initial sale of Units # 8120 and # 8121 are to be chosen by Ritz Carlton. eLand Use Approval The applicant is seeking an insubstantial PUD amendment to change Units # 8120 and # 8121 to rental units. First priority for the rental units will be for qualified AHV employees. A term of six months will be the minimum lease. If the units are not rented to qualified AHV employees they will be offered to any qualified employee. The insubstantial PUD amendment may be approved pursuant to Ordinance 8, series of 2000, Section 4 or Section 26.445.100 A. Our review of Ordinance 8, series of 2000 indicates the request is in compliance with all of the standards listed below with the exception of Standard a. The amendment is not a clarification or technical correction to the plat.. However, the amendment is in compliance with the standards in Section 26.445.100 which appear also below. Ordinance 8 Series of 2000 Section 4. a. The amendment must be a clarification or a technical correction to the plat. b. The amendment must development between accommodations uses. not change the use of residential, commercial the and proposed tourist c. The amendment must be consistent with action taken during the review of the original development and does not constitute new land development activity. ;~ '" (""1 f) James Lindt May 22, 2001 Page 3 d.i. The proposed activity does not change the basic character of the approved use land on which the activity occurs including the basic visual appearance and method of operation. d.ii. The proposed activity does not increase off-site impacts in the surrounding neighborhood. d.iii. The proposed activity does not endanger public health, safety or welfare. d.iv. The proposed activity does not substantially need for on-site parking or utilities, affordable housing generation. increase the or affect d.v. The proposed activity does the use by more than two space on the site by more not increase the floor area of (2) percent or decrease open than three (3) percent. Section 26.445.100 The following shall not be considered an insubstantial amendment: A.l. A change in use or character of the development. A.2. An increase by greater than three (3) percent in the overall coverage of structures on the land. A.3. Any amendment that substantially increases trip generation rates of the proposed development, or the demand for public facilities. A.4. A reduction by greater than three (3) percent of the approved open space. A.5. A reduction by greater than one (1) percent of the off-street parking and loading space. A.6. A reduction in required pavement widths or rights-of-way for streets and easements. A.7. An increase of greater than two (2) percent in the approved gross leasable floor area of a commercial building. A.a. An increase by greater than one (1) percent in the approved residential density of the development. A.9. Any change which is inconsistent with a condition or - --" ;::> ~. f", n ., James Lindt May 22, 2001 Page 4 representation of the project's original approval or which requires granting a further variation from the projects approved or dimensional requirements. Summary This letter requests an insubstantial change to the AHV PUD to change two affordable housing units in building # 8 from sale to rental units. The background associated with the approval of the affordable housing units in AHV PUD is summarized. It has been demonstrated that the request is in compliance with Section 26.445.100 A, PUD Insubstantial Amendments. The following attachments are included to assist you in this land use review. 1. Aspen Highlands Village Planned Unit Development Final Plat page 4/10. 2. Aspen Highlands Village Planned Unit Development Detailed Submission Consolidated Plan: Drawing L-202. 3. Aspen Highlands Village Planned Unit Development Detailed Submission Consolidated Plan pages 6-9. 4. Occupancy and Rental/Resale Deed Restriction and Agreement for Apsen Highlands Village Affordable Housing. 5. Letter from Matt Stokes of Hines Authorizing Davis Horn Incorporated to Submit Land Use Application. 6. Fee Agreement. 7. Pre-application Summary Sheet. Thank you for your assistance with this land use request. Please call me if I can provide any additional information. Sincerely, ORN ~CORPORATED HORN AICP AHV.A81 ...- -i=----l- I 1_ 'fh- _ - -- ~ ,.P q / ~/ 1'1t1S.Jl.II6r. ~ CI/# s-. U. "'6_ . ... ",d.b".,,,_ soo',,,,>>,!,, "$.~' :.\ \ \ \\\ ,/11/ ")C. / ::: ) -~-:::>-( I / /" ""T .'Z "" I /.^-.... ~........ j~/ Ii / ''vr/ ~\!\..---"'" tIl I ~ III /' ". 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'. 1 ~ " ,,, en !~ Os -U ::r::~ ~~ en <: , , , >- < t:l I. f') ~. 1ii ~~ !;; 8 ~~ ::;; ~ ~~ <: '. "8 t2 U I~;;; '" "" '-' CO -<':t!. o :...::: "" ,~~ !.S !! r ..: ~ ! lJJ:Z: .' ~ ,. ;; ! 0:: < P ~j~:<, "_e ~I O...l - -:,'. ' ~i,;~: u Q..!-- ....., g:~:1 wC ,~ '" .._ 0 Zip ,'''i-c n~ :Ji5,~< ; ~ I ..J ~ .,,:!l"(\. ~ S : :> 0 :.; , .~, '~::: Ii ! " , " '. . Cl Z ... ,. :.I llIi < ... o. --- 0'.:::;--- llIi I'll" " i:) i,' I.: G ~ ,}LI ,:. ~) i!; / ''-11 , > I:) 0' ... :.I ., -I, , L.., ..... , .i "' i " .:' I , - ~< . u if I 1!Ill.. .-;:. I""', n w Final Draft ASPEN HIGHLANDS VILLAGE: DETAILED SUBMISSION CONSOLIDATED PLAN Prepared for HINES 426 E. Main Aspen, Colorado (970) 920-1801 Prepared by Davis Horn Incorporated 215 S. Monarch Avenue Aspen, CO 81611 (970) 925-6587 September, 1997 D"^-u \ S, \-11..\( I ATTACHMENT _~ I I I I I . . . . . I . . . . . . . . ., ~, r--. 1 ~ .. ATTACHMENT ,3 market townhouses are located within the Village Core, while the 21 affordable housing units depicted on 1.201 and 1.203 are located within the Thunderbowl and Man;lon neighborhoods. Two additional affordable housing units in the Maroon neighborhood are depicted on L-204. Buildings in the Village Core are depicted in seven sets of architectural drawings. Individual buildings in the Village Core are numbered 2-8 (see drawing AOOS). Each set of building drawings includes a key showing a conceptual building footprint, roof plans and building elevations. The drawings for building 2 include floor plans for floors 1 and 2 (A2-201 & A2-202) to represent the grade change on the first floor of the building. These uses are shown for reference only and are subject to change. Plans for the Village Core are highlighted in the following sections: . Affordable Housing; . Commercial Space; . Service Area Plan; . Floor Area; . Building Height; and . Off-Street Parking Plan. Affordable Housing There are a total of 111 deed restricted affordable housing units in Aspen Highlands Village. Twenty- three affordable dwelling units are located in the Thunderbowl and Maroon Neighborhoods (refer to L-201, L-203 and L-204). Twenty-two of the dwelling units are four bedroom units and one is a three bedroom unit. Fifteen of these family units will be located in the Thunderbowl Neighborhood 6 "" .. f"') f"l :J ,-;,~CHMENT and eight in the Maroon Neighborhood. The remaining 88 affordable dwelling unib are located in the Village Core distributed among the buildings as listed in Table 2. TABLE 2 ASPEN mGHLANDS VILLAGE DETAILED SUBMISSION CONSOLIDATED PLAN: MULTI-FAMILY AFFORl>ABLEHOtrSING UNITS. Buildinr #** 2 3 4 5 Cate20ry Uait Type**- # ofUaits 3 2 bedroom 1 3 3 bedroom 13 1 Dorm 20 3 2 bedroom 3 3 I bedroom 3 I 1 bedroom 4 3 3 bedroom 8 1 1 bedroom 4 2 1 bedroom 8 1 Dorm 17 3 3 bedroom 7 NA NA 88 8 Total . There ere 22 four bcdroo.4 ancI """ three bedroom affordable housiDg uniU located in the ThunderbowI ancI Manxm Neighborhoods which an: not listed in this table. Then: ere a tota1 of III affordable dweUing 1IIIita in the Village. .. Refer to drawing A.ooS for to see building locations. ... All Ullita an: sale Ullits with the exception of the dotms, four 2 bedroom. uniU, ancI three 1 bedroom rent8l1IIIita. Soun:e: Davis Horn Incorporated ancI Robert AM Stem An:hite<:ts, September 1997 Table 3 shows that 267.25 people will be housed in deed restricted affordable housing units in Aspen Highlands Village. This exceeds the total Aspen Highlands Village housing requirement of254.1 by 13.15 people. The applicant and County have agreed that 75 percent of the (.75 x 13.15 = 9.9 people) 13.15 people in excess of the 254.1 housing requirement may be used as a credit to off-set future housing exactions and/or short-falls which may result from employee audits. Detailed calculations and unit allocations are contained in the Affordable Housing Exactions section of this document. 7 ';.- -' r'\ t"'\ ~ AilACHMENT 'J. As noted in Table 2, all WIits II ~ " Ii I I I ", I ]1 't!, I i ~ iiJ, i;I' I: ~ il" I I , , n L; .' " I ' ~ ; lie . :ij Ej ~ There may be minor VIIriations in the mix of afFordable housing units. in the ViUage are sale uniu with the exception of the dorms, four 2 bedroom units, and three 1 bedroom wDts. As the project developer, Hines, AHV and the Aspen Skiing Company restIVe the right to 1ease all seven rental uniu to qualified Hines or Aspen SkiiDg Company employees u a top priority provided that those employees meet price, income and occupancy guidelines. If qualified Hines, AHV or ASC employees cannot be placed in the rental units they will be offered to other qualified employees. Upon the next rental, Hines, AHV and ASC employees will be given top rental priorities. Hines, AHV and the Aspen Skiing Company reserve the right to sell four of the dwelling units in the Thunderbowl and Maroon neighborhoods, four three bedroom units located in the Village " ::11 tl Ii f;i ~d core and two of the one bedroom units to qualified Hines, AHV and ASC employees. The first time I I r \ 4~'" 'I" , : !. :--;! '1'1'. , 1'1,. .Ji H:li : ~ 'I ! F1": I'':. ,i 1:1' p :: ~ I:, !, ;:';1;; lib" . }:,!, ,Ii.: the units are sold they will be offered to qualified Hines, AHV or ASC employees. Upon the subsequent sales, the units will be first offered to qualified Hines, AHV or ASC employees and then to any qualified employee. First priority for lease of the dorm units will be to Music Associates of Aspen during the summer and Hines, AHV and ASC employees at other times or in the summer if the dorms are not filled by MAA students. TABLE 3 ASPEN mGHLANDS VILLAGE DETAlLED SUBMISSION CONSOLIDATED PLAN: AFFORDABLE HOUSING PLAN- Average Unit Type Number Household Size Population Dorms.. 37 NA 61 Cat. 1 OneBedroom 8 1.75 14 Cat. 2 One Bedroom 8 1.75 14 Cat. 3 One Bedroom 3 1.75 5.25 Cat. 3 Three Bedroom 28 3.0 84 Cat. 3 Two Bedroom 4 2.25 9 Cat. 4 Four Bedroom 22 3.5 77 Cat. 4 Three Bedroom... 1 3.0 3 Total 111 NA 267.25 . A111llli1l "'" IIic 1IIli1l with the "'lIeepliaD of the dcrms, four 2 bdr. 1IIliIs, 8IIli three I bdr rmtal1lllits. .. 1be cbm uailI will be occupied by Music .4....".;.._ of Aspen (MAA) students in the SIIIIIIIIe:I' with priority given to HiDes, AoponJr.gIol...n. VilIatlc or Aspen Skiing Compsny employees at otiH:r times or in the lIUIIIIIICI' iftbc donas _DOt fiUed by MAA lIludaIts. ... Thi!l unit i!llocated in the Mamnn Neiohhnriitwi Source: Davis Ham IDcorpmated; September, 1997 Ii 11 I I' ,. :ii 1 I; I' I i 8 > MA y, 22. 2001 903AM ~S ASPEN HIGHLANDS ViLLAGE i NO. 783 P 2 1"""'\ ... > ATTACHMENT ... QClJ/PANCY AND RENTAUR€SALE Otto RESrRrc../.l.ONAND AGREEMENT FO~ A$PEN !-Irl/;Hl.ANDS VIl..l.AGE AFFORDA8LE HOUSING THIS OCCUPANCi ANt> RENTAL/RESALE bEE!) RESTRICTION AN!) AGREEME'Ni POR ASPt;N HI6HLANl)$ VIU..AGC AFtFORDABI.E HOUS3;N6 (the "Agreement") is..l!I(Jde ""d entered into this 6!l,L doy of April 2001, by Md betw<<"", Ritz-CCII'ltQ!'!!').<we1opment Company, Inc. (the: "Dedcrcnt"). and the AsPl;N/PITKtNCOVNTY HQtJS!N.G ,A,l'T!-lOR!'lY (hereirnzfte.. referred to as lIAPCHAll). adtlly c,<)~titut~d mdti-jt.trisdictiom:d Housing At.lthor~t). e..."taoiished pursoant to the SECOND!;!) AMENDED AND RES,ATED INTERGOVERNMENTAL AG~EfM€'NTby CI1ld between the Ci'ly of '''spc,''l, Colorado (the "City") alld Pitkin County. COlorado (the "County;;), doted September 13, 1999 and ..",corded at Reception No. 445444 of tfte records of the Pitkin County Clerk Md Recorder's Office. WITNESSETH; WHEREAS, the Board of County COlmmiSSianers grcnted Subdivision General Submission. Planned Unit t>eve,fopft'!ent. 1041 Envi,ron1T'.errtd H~~rdReview an~ Spuial Review approval rortne. Aspen Highlands Village Prcpcsa!, Subject to conditions stated ill Resolution Na. 96-141, Granting $t.,~yjStD::rkl1t!1'C} SWml$$iW;, P/ofk::ed t/r'/tl>eveIDfJlTletit;.- J04i'Envirt'lnmentalHtTZtJrdReview ami Speci(;r! ~eview ApprlilvQI Ti1r the Aspen Highlands Village l'ra/X1sal, and recorded aT Reception No. 402639: artd ~Iution No. 97-67, Granting /)eta/led Sub/fti$s/M, Planned Unit ()evelopment, 1041 cnllilW1111Ultai Hazard Review. and $pet:ial Review AppravaJ to the Aspen Highkmds Village PUI>, and recorded at Reception No. 422629; and Resolution NOl. 98-79, Gralrling Final Plat A~Vl:JI I'D the Aspen HigbJtJI1tis VJlIt1ge I'U/), and recorded at Reception No. 423268. WHEREAS, the City af Aspen granted An""l(of;on for the Aspen Highlands Village P..oposal, $ubject to COndifi",...s pursuant to Ordil1Ollce No.8 (Series of 2000), Approving the: AnnexatiDn Dr C-.'Ttain Territory t~ the CIty of' Aspen, Co{t>raQQ, to be Knuwn ami tJesignated as the '"Aspen HighJt1f/4$ Vilfage P(,I{r Ai1Mxatian, and reoarded at Reception No.. 442835. WHEREAS. the ASpen Highlands Village P.U.D. Final Plat was recorded at Plat Sool( 47. Pages 1 through 9, Slock D Plat recorded September 28, 1999, Plat Book 51. Page 4~ _ 46; Aspen Highlands Condo Phase r Plat recorded in Plat Book 56 at Pages 24 - 48; and DecltJrtJ1i'tNr l1f CtJlKIomim-.iff/ fer Aspefl Highlands (;,()ndDminiums Aspen HiphJtmds Vi'J/t1!}t!. City '" Aspef), Pit/fill C{1/.H/ty, Ccloradc recorded On J'onuary 11, 2001, at Reception No. 450454. WHEREA"', an 'Owner" is a person or persons who is/are a Qualified Buyer who acquires an ownership interest in the Property in compliance with the terms and provisions of this Agreement; it being understood that such person or persons shall be deemed an 'Owner' hereunder only during the period of his/her or their ownership ,nterest in the Property and shell! be obligc.ted hereunder for the full and complete performance arrd observance of 011 covenm,ts, conditions Md restrictions <:ontained herein during such period. MA~ 22, 2001 9:03AM HINES ASPEN HIGHLANDS VILLAGE n (') NO, ) S 3 P 3 ..:: ATTACHMENT l..\ WHe~eAS. the unitsoffected by the .Oeed Restrictio/lore the units with Affordable Housing Condominiums set forth on the Condo. Plot <lI1d specifically calk:d out i"Exhibit' ,... ". WHeREAS, pursoont to the ~esoJutiol'$:md OrdiMl'lces stated above. '~he Declarant desires to impose cen<<in covenants upon the !Jnrrs, more specifically described in Exhibit "A", which will restrict the usecndoccupancy of the Units to quaiified buyers or tenants, os ddined in the Aspen/Pitkin County Housing Guidelines (the "Guidelines") and os they ore (I/lIended from tillle: to time. and in conformance with their lend USe approval. In addition, the Declarant desires to impose certain COvElIlants upon the Units which shall se:t fortI! the maximum monthly rental price, maximum resale price,omount of appre.:::iotion.:md terms and provisions for the rel'ltal or sole of the Units. In order to ac.:::omplish the foregoing objectives, the Oedorant desires to enter into this Agreemezlt with APeHA upon the terms set forth herein. WHEReAS, the parties hereby acknowledge that the Declarant wlli nat occupy or utilize the Units as his resid<<l'lce: fliSteocl, Declarant hos construetecl the Units foro plll"pO$'es of selling Or renting the Units. through APCHA, to qualified employees CQuolifiec:l Buyers] who fall within the APCHA's specifi.::: C<ltegol'y as detailed in Exhibit' A" and established in the Guidefines, as the Some are pub fished from time to time.. NOW. THEREFORE, it is ogreed by the parties hereto as fo!!ows: I,WTIAL $AL€S/RE$AI.~S TO QlIALIFZEt> 8WliRS A. IIIitial Sale: 1. The units specified O'S 'soles units' in Exhibit' A' shall be sold thrtiugh the APeHA. The Declarant can specify the Qualified Buyer f(lr the initial sale. only for those units specified as such in Exhibit' A". whereby they are. mol' ked with an aste,.isk ("). 2. The initial sale prfces for the units will be based upon the maximum sales prlce. stated in the Guidelines in effect at the time of listing. A separate Memorandum of Accept:mce will be signed (lftc:! recorded upon the sale and resale of each unit. The Memorondum of Acceptance will stipulate the. sola.: price, dote of the sale. alld Qualified Buyer. B. Resale and OeCl.!C4ftl:Y Guidelines A1:lplicllble to Qualified Suyer: 1. In the event that on Owner desires to sell the Unit, the Owner shall execute Q standard Listing Contract, on forms approved by the Colorado Real Estate Commissi:m. with the APCHA providing for a lSCl-day listing period, or sucl! other time period os required by the APCHA Affordable H.ouSing Gtlidelines in effect at time of listing. At this time. the Owner sholl dE:J>O$it with APCHA an amount equal to olle percent (1%) of Dud Restriefion 10r- A$pe71 }..llSh.!ami.s \lilfoge. Affordable H9uSing Page 2 MAY. 22. 2001 9: 04AM ~ES ASPEN HIGHLANDS VILLAGE NO. 783 p, 4 t"\, . ;; ATTACHMENT '-\ .. . the estimQted value of the Unit. The APCHA shall promptly tldvertise the Proper1y or Unit for sale by competitive bid to Qualified8UYers, At the time of dosing. the Owner shall pay to APCHA tilt odditionolone percent (I'.). for 0. maximum fee of t~,o percent (2%). If FNMA type financing is used. there may be" fee charged by the APCHA bc!se.d on the amoUl1t final'lced. The "I1'IOUnt of this fee to be paid by the subsequent Owrler shaH be as Set forth in the current Affordable Housing Guidelines and wi!! be distributed to the APCHA Mortgage Fund Account. 2, M.oolmlm Resale Price: In no event shall the Unit be sold for an amO!ll1t C'Maximum Resale Price") in excess of the lesser of: a, $":'. pl!ls an increase of three percent (3%) of such price per year from the do.te of purchose to the date <:>1' Owner's notice of intent to sell (prorated at the rate of .25 percentfor eoch whole month for allY part of 0 year); OR b, all amount (based upon the Consumer Price InQex. Ail Items, U.S. City Average. Ur~ WogeE'amers and Clerical Workers (Revised). published by the U.S. Depcrtment of l.abor. B!lreau of l.abor Statistics) c:aJcul<lted as follows: the Owner's purchasepr;ce divided by the Consumer Price Index p!lblished at the time of Owner's purchase stated on Settfemel1t Sheet. multiplied by the. COIIs!lmer Price Index current at the date of intent to sell. r.~ no event shall the. multiplier be less th"n one (1). For purposes of this Agreement. "date of intent to self" shall be the date of ""ecution of 0. listing contract when required by this agreement, or if <<listing contract is not otherwise necessary. the date shall be determined to be the date upon which a requirement for the Owner to seU is first Gpplicable. c. For the purpose of determining the Maxjmum Resale Price in occordance with this Section. the Own!ilr maY tldd to the amount specified in Po.rograph 9.2, above. the cost of Permitted Capitol Improy<'!ments (os defined in Exhibit "S") il\ a totor omount 1I0t to exceed $"':". which is ten pe!'"cent (10%) of the initial pur<::hose price set forth in pa.'"t!sraph S.Z above. In calculating such amount, only those Permitted Capital Improvements identified in Exhibit "B" hereto Shall qualify for indusion. All such Permitted Capital Improvements installed or constructed over the life of the unit shall qualify. Howe~er. the ollowance permitted by this subse(:tion is a fixed amoullt, which shGlI be calculated on a cumulative basis applicable to the owner and all subsequent purchasers. ond shall not exceed tile maxim!lm dollar amount set forth in this subsection c, ~r'$ pureh.!.:;c price, reeorded. cna ee~.!.~e Ho!l\OX'ou"u"hll'll of! AcC9Pt:a~ee- ~Or ~=. 1::.~.i:vidtu!.l :.;.nit:. ~.10l:; Q; 'eb.e init.;i.Al 6ales pric::e: ;0 be :r:eco~ in i1 Be't'n-aee ~~c;>nndWl\ 1:J'1! AcC::Gpt:anee,for ea.C'h. \U"...:!;t. CUd Qest!"iet'io" TOf Aspe~ Hishle~ds Villege Affcrdab!e HQusinS Paee 3 .MAY, 22 2001 9 04AM HINES ASPEN HIGHLANDS VILLAGE ~ ^ , j NO, 783 P 5 .. ATTACHMENT t.t d. ?eHr,itted Cc1pital rmprovemenTs $~Ii not indude any chcnge5 or additions to the Property made by the Owner during construction or thereafter, except in (lccordgn<:e with Pcragraph B.2.<: above. Permitted Capitcd Improvements shalt not be included in the APCHA' s listed purchase price. even if made or ill$taUed during original construction. e. r" order to qoolify as Permitted Capital Improvelllents, the Owner tnlJSt ruronish fa the. APCHAthe fvHoW'tng- iRf\1J"f"fiution w.th res-pect to the improvements that the. Owner seeks TO include in the. I;(licuiation or Maximum Re.soJe. Price: 1) Originol or duplicote receipts to verify the ClCtuol costs expended by the Owner for the permitted C4pital Improvements; 2) OWlleI" s affidavit verifying that the r'eceipts are valid and eorr~t receipts te'1dered at the time of JlllI'chase; and 3) Tru.t and correct copies of fJrIY buildin9 permit or certificate of oecuponC)' required t. be iSSued by the ASpen/Pitkin County Building Deportment with ,"""pect to the Perl1li1'1ed Capital Improvements. f. For the purpOSe of determining the Maximum Resale Price in accordance with this Section. the OWn<lr !MY als() add to the amount specified in Paragraphs 8.2. a tnrough d, the cost of any permanent improvements constructed or installed as " result of any requirement imposed by any goverl1me."'ltal agency, provided that written certification is provided tei the APCHA of both the applicable re.quirementand the information required by Paragraph B.2.e,l) - 3}. g. In CCllculating the costs under Paragraphs 8.2.e,l) - 3). only the Owner' s (letual out-of-pocket costs and expenses shall be eligible far inclusion. Such amount shall not incluqe.an amount attributable to Owner's "sweat equity" or to any appreciotioPl in the wlue of the improvel1W1ts. NOTHING H~EIN $HAI.1. B~ CONsrnueb TO CONSm'JTI:: A REPRESENTATION OR aJARANTEE BY THE APCHA OR THE cnv THAT ON RESAl.E THE OWNER SHALL OaT AIN THE MAXIMUM RESALE PRIce'. 3. All disputes between the Owner OI1d the administrative staff of the APCHA sholl be heard in accordance with the grievance prOcedures set forth in the Affordable Housing Guidelines. 4. Owl'ler shall not permit any prospective buyer to assume OI'\Y or 011 of the Owner' s customary dosing costs nor accept any other considerotion which would cause an increase in the purchose price abOve the bid price so as to induce the Owner to sell to such prospective buyer. Deed Rostric:ti"" for A.<pe" Highland< V;Uage Affordoble Housing Page 4 .MAY n 2001 9:05AM , ~ES ASPEN HIGHLANDS VILLAGE t'"'!. '- jJ NO, 783 P 6 .. ATTACHMENT Lf 5. in the event tnflt one quaiified bid is received equal to the Maximum Resale Price herein esta~Hshed, the Properly shall be sold to such bidder at the Maximum Resole Price; and in the event Owner receives two or more such bids equal to the M<lx.imum Resole P,.;ce, the Quclified Buyer shl111 be sele<;t<<1 <lccord1ng to the priority for Sde Units set forth in the Affordcl!fe Housi"!) Guidelines; Ilnd, in the event thot ail s..di quolified bidders are of equal pnori1y pur.cuant to the AfforQQbfe HeUslii9 Guidelines. th.. Qualified Suyet sh"lI be selected by lottery among the qlKllified bidders, whereupon the Property or Unit sholl be sold to the winner of such lottery o.t the Maximum Resale lTice. If the terms of the proposed purchase c:ontract, other than price, as initially presented tl) the owner. are UIKIceeptabJe to the Owner, there shall be 0 monckrtory negotiation period of three (3) business days to allow the Seifer and potential buyer to reach an agreement regarding $Cid terms, including but not [;",;ted to, the closing dote and finoncing contingel'lcies, If, after the negotiation period is ove.., the Seller and buyer hove not ..eaeheda."1 agreement, the next bidder'safter will then be preserrted to the SeHer fer coroS'ideratiqn and c: three (3j business day negotiating period will begin again. The seller may reject any CIlO ali bids, however, the 0..,.,,1' is subject to the provisions 'n the Affordable Housing Guideiil'le5 pertaining to the listing fee. Bids in excess of the Maximum Resale Price sho.ll be rejected. If alt bids are below Maximum Resole p..ice, Owne..11I<Iy ac;eept the highest qualified bid. .If all bids are below Maximum Resale Price and two or more bicls are fa.. the same price. the Qualified Buyer shall be selected by 'otteryfrom among the highest qualified bidders. 6. Except as provided in paragraph A above, ;1'1 the eIIellt tnot tit!" to thi! Unit ve.,'"ts by descent il'l individuals and/or entities who are not Quafified Suyers as that term is defined h"rein (hereinafter "Non-Qualified Transferee(s)"). the Properly or Unit shell immediately be listed for so.le as provided in Paragraph C (lb()ve (including the payment of the specified fee to the APCHA), and the highest bid by (I Qualified Buyer, for not less thQl1 ninety-five percent (957.) of the Maximum Resale Price or the appraised market value, whichever is less, Sho" be o.ccepted; if all bids are below ninety-five per!;~nt (95%) of the Maximum Resale Price 0" the approised market volue. the i>r<lperty or Unit shall continue to be listed for sole until" bid in Clccard/mc:e with this section is made, which bid must be accepted. The cost of the appraisal shall be paid by the No:n-Qualified Transferee(s). a. Nor.-Quolified Transferee(s) shall join in any $Cle. conveYCllce or trQl1sfer of the Unit to a Qualified Buyer and shall execute any and 011 documents necessary to do so; and , I ! I I i i I I I , I b. Non-Qualiffec:l Transfe..ee(s) agree not to: 1) occupy the s(lid Unit: 2) rel'!t <111 or Ql1Y part of the Unit, except in strict compliance with Paragraph B.!O hereof; 3) eng<>ge in CI1Y other business activity Ol'! or in the Unit; 4} sell or otherwise transfer the Unit ex<:ept in accardence with this Agreement and the i)eod Restt'id'iQO f<>. A"l"'" Highklt1ds ViIJage Affordable Housing PoseS .MAY. n 2001 905AM HINES ASPEN HIGHLANDS VILLAGE {"',. .. ~ NO, 733 P. 7 ATTACHMENT ....':l- .. \ ,-j' Mfordc>ble: HouSing Guidelines; or 5) sell or otherwise transfer the Unit for uSe in a trade or business. C. Any type <1f transfer of any portion of the Unit shall be cpproved prior to the 1'J'(lnsfer. If prior cpprovaJ has net been re1:~;!"".f by the APC~A. the trcnefer sholl ~ n~1I and !'oid. a. Tht: APCHA., the Ciry, the CDtinty. or thejr respective successors, as appiicQbie.. .sholl nllVe the right ond optior. to purchase the Unit. exercisable within a period Of fifteen (15) cQ.l<7ldar dQ.Ys after receipt of any sales offer submitted to the APCHA by a Non-Qualified Transferee(s).and in the event of exer<:is.ing their ri9ht and option. sholl purchase the Unit from the Non-Quolified Tronsferee(s) for 0 price of ninety-five percent (95%) of the Maximum ~esole Priee, or the appraised market value, whichever is less. 1'he offer to purchase shall be made by the Nol't-Quolified Transruu within fifteen (IS) dcrys <1f oequisition of the Property or Unit. e.. Where the provi.sions of this Paragraph 6 apply, the APCHA may ....quire the Owner to rent the Unit in accordaneewith the provisions of B.I0, below. 7. \he Units shall be and are to be utilized only os the sole and exclUSive place of residence of 011 Owner. 8. In the eYerlt Owner changes domicile or ceases to utilize the Unit os his sole: OI1d exclusive place of residence, the Unit wi!! be offered for $<lle pursutll1t to the provisions of Paragraph B of this Agreement. Owner shall be deemed to have changed Owner' $ domicile by becoming 0 resident eisewhere or accepting permanent employment outside Pitkin County, or resiciitlg in the Unit for fewer than nine (9) months per calendCl1' year without the express written approval of the APCHA. Where the provisions or this Paragrcph S.8 apply, the A.PCHA may reqUire the Owner to rent the Unit in accordance with the provisions of Paragraph B.10, below. 9. If at any time the Owner of the Unit also owns any inter-est alone or in Conjunction with others in any developed residential property or dwelling unites) rocwted in Eagle. Garfield, Gunnison or Pitkin Counties, Owner agrees to immediately list said other property or unit for sQ.le and to sell Owner's interest in such property at 0 sales price comparable to like units or properties in the area in which the property or dwelling unites) ore located. In the event said other property 0,. unit has not beel'1 sold by Owner within one hundred twenty (120) days of its Ilstil1g, then Owner hereby agrees to imm",.,liately l,st this Property or Unit for sale pursuant to the provisions .of Parogl"<lph C.6 of this Agreement. It is understood and agrad between the pa.Mies hereto that, in the case of on Owner whose business is the cOIl$tructi"" and sale of residentiol properties or the pUrChllSe and resale of such properties, the properties which co,..stitute inventory in such on Owner's business shall not constiM", "other Deec! Restriction fo. Aspen Highl4nc!.VilJo9" Affardcl\l~ HaUS;n9 Poee 6 , i I I I f I i I , ; MAY, 22. 2001 906AM ~ES ASPEN HIGHLANDS VILLAGE tl ;1 NO. 783 p, 8 w . ~Ti;~CHMENT "t devel"ped residential property" ,,1' "dweiling unites)" as those terms Cll"e used in this PClragraph 6.9. 10. Except as provided in Paragraph A above. Owner may not. except with prior written approV<11 of the APCHA. an<! subject to AI'CHA' s eonditit)7!$ t)f <1l'pro!l(!L rent the '-"'Jt for MY period of time. Prit)r to occupancy. any tel".<mt must be "ppro\!ec by the HJJ~;cr's Assoeidtion.if app!;edblef<tnd the APCHA in accordance-with the incomef occupancy <lJ'1d all ather '1'lolificatial'l$ established by the APCHA in its Affordable Housing Guidelines. Tne APCHA shedl not approve any rental if such rental is being made by Owner to utiiize the Unit os an income producing asset, except os provided below, and shell not approveeleasewith a rental term in excess of twelve (12) months. A signed copy of the lease must be provided to the APCHA prior to occupancy by any tenant. Any such leose o.pproved by the APCHA shall be the gi"e.ater of Owner's cost or the monthly rental amount specified in the Affordo!:>Ie Housi"9 Guidelines for units that were constructed in the year in which the subject unit was deed restricted et the oppropriete income category. Owner's cost as used herein irn:ludes the monthly expenses for the cost of principal and interest payments. taxes, property insill"Cl\ce, condominium or homeowners assessments, utilities remaining in owner's name, plus o.n addition<11 twenty dolio.rs ($20) and a reasol1<1ble (refundcble)seclll'ity deposit, i I " I i The requirements of this par"grcph shell not preclude the Owner from si-!oring occupancy of the Unit with non-owners en a rental basis provided Owner continues to meet the oblig<ltions contoined in this Agreement, includir1g Paragraph B.10. GENeRAl. PROVIs:EONs C. IN NO 5\lENT SHALl THE OWNER CREATE AN AMIiIONAL DWELLINt; UNtt. AS DEFINED IN THE PTTKIN COUNTY OR CITY OF AsPEN LAND USE CODES. IN OR ON THE PROPERTY. C. NOT'riING HEREIN 5HALL BE CON5TRVEo TO REQUIRE THE APCHA TO PROTECT OR INDEMNIFY THE OWNER AGAINST ANY lOSSES A1lRIBUTABlE TO THE RENTAL, INC[..VDING (NOT BY WAY Or LIMITATION) NON-PAYMENT Of RENT OR MMAGE TO THE PREMrsi:s; NOR TO REQUrRI: THE AF'CHA to OBiA!N A QUAUF!Eb iENANt FOR THE OWNER IN THE EVENT THAT NONE IS FOUND BY THE OWNER. BREACH E. In the event that APCHA has reason<1ble cause to believe the Owner is violo.ting the provisions of this Agreement, the APCHA, by ,t's authorized representative. may inspect the Unit between the hour"$ of 8:00 o,m. "lid 5;00 p.m., Mondo.y through Frido.y, after providing the Owner with 1'10 less thon 24 hours' written notice. !leed ~Ar;~ien fop A."..n Highlands Vil!oge Affordable Housing P"!Ie7 .. MAY. n 2001 906AM ~ES ASPEN HIGHLANDS VILLAGE ~ NO. 783 p, 9 ATTACHMENT-..!:1__ ~ F. The APCHI<, in the event" vjal<ltion at this Agreement is discovered, shall send a notice of violation to the Owner aetaWI'lg the Il<lture of the violotion and allowing the Owner fifteen (15) <:lays to cure. Soi<:l notice shaH state that the Owner may request a hearing before APCHA within fifteen (15) days to determine the merits of the allegations. If no hearing is requested <l/ld the violation is not cured within the fifteen (15) doy period. the Owner shall be considered in "iolotio" of this Agreement. If a hearing is held before the APCHA. the dadsion of the APCHA htJsed on the record of such heari"g shall be fino.l for the purpose of determining if <l violotior,has o<:cul'T"e:d, provi.x.d the right to oppeal the decisi,," to the l:>isf.-ict C"un pursuant to C.R,C.l'. Rule 106 ,,1' Colorado shall be availllble. ReMeDIES G, There is hereby reserved to the parties hereto <lilY Ilnd <:Ill r:emedies p.-ovided by 10'01/ for breach of this Agreement or cny of its terms. In the event the parties resort to litigation with respect to <lny or ali provisl<>ns of this Agreement, the prevailing pclrry shail be entitled to recover damages <lIld costs. including reasonab leattorneys' fees. H. In the eVerlt the Unit is sold atld/or conveyed without compliance herewith, such sale and/or convey<l/lCesl1al/ be ""holly null and vOid and shall confer no titJe whatsoever upon the purpoM'ed blJyer. Each and every conveyance of the Unit, for all purposes, sh"II be deemed to include and incorporate by this reference. the: covenants herein contained, even Without reference therein to this Agreement. I. In the eVEint thot Olhller fails to cul'e Ol'iY breach, the Ai'cHA may resort to any and elf available legal action. including, but not limited to, specific performance Qf this Agreemerltor" a mandatory il'ljunction requiring sale of the Unit by Owner os specified herein. The costs of such sale shall be taxed against the proceeds of the sale with the balQl'lce being paid to Owner. j. In the event of a breach of any of the terms or conditions COntained herein by the OWMr, his heirs, successors or ossigns, the APCHA '5 initktllisted purchase price of the Unit as set forth in Paragraph A of this Agreement shall, upon the date of such breach as dll.termined by APCHJl., autotnatlClllly ceose to increase as set out in Paragraph B of this Agreement, Qlld sholl remain fixed unt; I the dote of cure of scid creach. r-oREcLOSI./RE K. If f'NMA-type tinonclng is used to purchasE: the Unit, as determined by the APCHA, the. APCHA and the Soord mqy, pursUllnt to that certain O~tion to Buy executed and recorded gf even dote herewith, the terms of which a.-e ineo.-porated in this Agreement by this refereru:e (IS if fully set foM'h herein, agree to release and weive their I1bHity 1'<> enforce the resale deed restrictions contained herein, in the event of foreclosure, provided that said Option to Buy grants to the APCHA and the Board, as the designee of the APCHA, the option to acquire the Property or Unit within thirty (30) days after the issuonee of (I public trustee's deed to the !)eed Restrie1'i.. fer Aspen Highlonds \/j)JI!9" Affcrdoble Housing Page a . MAY, n 2001 907AM ~ES ASPEN HIGHLANDS VILLAGE n NO. 783 P 10 ATTACHMENT ~.."__" ~ . holder (il'tcluding assigns of the holoer-) .:>f the promissory note UClir"ed by a fir'i:t deed of 1rust for O!'! optio/\ price net to exceed the reder.\ption price on the last doy of oil stotutory redemption period(s) CIId ony additional reasQnc!ble costs incurred by the holder during the option period which <Ire. directly related to the foreclosure. In the event that APCHA or the Board, (IS the designee of the APCHA, exerciSe the option pursuant to the terms of that certain OJ:ltion to Buy, described above. the APCHA and/or its designee, may sef! the Unit to QU(lljfied Buyers (IS thdt term is de.fil\E!d herein, or rent the Unit to qualified tenants who meet the income. oC<:Upartcy 11110 011 other qualifIcations. established by the APCJ..lA in its Affordable Housing Guidelines I,mil $Ole to " Qualified Buyer is effected, L Notices. Anynotice, consent or approvel which is r~uired to be given hereunder shail be given by mailing the smne, certified mail, return receipt requested, properly addressed CIlld with post0ge fully prepclid, to any oddress provided herein or to lI11y subsequent mailing oddress of the pany as long as prior written notice of the change of address has been given to the Ilther parties to this Agreement. Said notices. cOl1Sents !lnd "'Pprovels shalf be sent to the parties 'hereto !It the follOWing addresses unless otherwise notified in wl"iting: '. To Dedarll11t: Ritz-Carlton Development Company, Inc. Attll: DOlliel a. Zanini, Assistant General Counsel 6649 Westwood &ulevard~ Suite 500 Orlendo, F"L. 32821 To APCHA: Exec~tive Director Aspen/Pitkin County Housir.g Authority 530 East Main, Lower Level Aspen, Colorado 81611 To be determined by a later reco,.ded memorandum encumbering eQCh lnoividucd unit To Ow.ler: M. Exhibits. All exhibits attl'lched hereto (Exhibits "A" and "8") are incorpOl'ated hereirt CIlld by this reference made Q part hereof. N. Severabilitv. Whenever possible, each provision of this Agreement CIllO any other related document shaff be interpreted in SIlch a ll1a/'tl'ler as to be valid under Cl?plicoble law: but H' any provision of any of the foregoing shalf be invalid or prohibited under said applicable law. such provisions sholl be ineffective to the extent of such i""alk/ity or prohibition without invalidClting the remaining provisio/1$ of such document. 0, tho,,,, of Law. This Agreement 11110 each II11d every related document is to be govemed CIllO construed in accordance. with the I(IW$ of the State of Colorado. p. Suc~ors_ Except as otherwise provided herein, the provisions and covenants contClined her~n shall more to and be bindin!! upon the h"irs. suecessors /II'1d assigl1S of the parties. l).!:...2d ~st1'ic:riQfl for' Aspen 'l-liShlcndsVi!fage Afferdob!l!. Housi"'S F.jJ,,9 , .. .MAY, 22 2001 9: 07AM it") . W. x. ~ES ASPEN HIGHLANDS VILLAGE , ; NO. 783 P 11 ATTACHfAEl'fl ~... Q. Section Headings. Paragraph or section headings within this Agreement are inserted solely for convenience of reference. and are not intended to, end shall /lOt govern, limit or- aid ill th~ . co/'lStr-uction of any terms or provisiolls <:ontllined herein. R. Waiver. No claim of waiver, consent or <rcquiescePlce with respect to any provisian of this Agr€.ement sna~!be "laUd Qga!l'\st arlY porty he..,;.,;ttQ ~cept on the. hQSi$ of a WF{ften instrument execl.lt<U! by the partieS to this Agr;;ement. However, the fX1r1y for whose benefit 0 condition is inserted here.in shan have The unHaterc.d right to waive s~h condition. s. Gender and Number. Whenever tfle context so requires herein, the neuter gender shalf include any or all genders ond vice versa and the USe of the singular shall include the plural 011<:1 Vi"", versa. T. Personal UabiJ;tv. Owner ogrees that he or she sholl be Iler'$onalry liable fo.. ony of t'ne trOl1Soctio,'lS contemp!a.ted herein. u. further Actions. The parties to this Agreement agree to elCecute such further documents and take such further actions CIS may be reasonably required to cCll"l"y out the provisions and intent of this Agreelll<!nt or ony agreement or docl.Jment relating hergj'o or entered intI' i.n conltection herewith. v. Modific:atigr,s. The parnes to this Agreement agree that arty modifications of this Agreement shall be effective only when mode by writings signed by both pa..ties and r'ecQr'ded with the Clerk and Recorder of Pitkin County, Colorado. Notwithstanding the foregoing, the APCHA reser-yes the right to amend this Agreement unilClteralfy where deemed necessary to effeCT1J<ite the purpo~ and intent of this Agreement, and where such unilateral action does not materially impair the Owner' s or Declarant's rights under tflis Agreement, CWMr and Successors. The term "Owner" shall mean the perSQPlor persons who shall acquire an ownership iPlterest iPl the Property or Unit in compliance with the terms and provisions of this Agreement; it being lJ1lderstood that such persel! or l'e!'SOM shan be deePl\ea an "O/,.,e,." hereunder only during the period of his, her or their ownership inter..st in the Unit and shall be obligated here,maer for the full and compleTe performancl'.<llid observ;:l/Iceof Ill! coyermnts. conditions tmd restrictions contained herei" dl.Jring SlId, period. QI.JClfified Suver/Tenont; The term Qualified Buyer/Telll1nt is 0 person(s) meeting the income and asset limitation who meet the profile reql.Jirements (port of which r"'lUiremennr inc:lude being a qualified employee, a Senior, a diSable person. or dependent(s) of ony of these such teNTl$ as defined in the G1Jic:;l"lines) established by the APCHA from time to time a~d in effect at "ny time. IN WITNEss WHEREOF, the parties hereto have elCe~uted this instrument on the day and year above first written. P.S"lO I I I I I 1 ~ llestI'iotion 1'0" ~r. Highldr.ds Villose Affo"dclbl. Housi"9 , 'MAV.222001 907AM ~:ES ASPEN HIGHLANDS VILLAGE NO, 783 P 12 ^ t":// 6<, . DECLARANT: ATTACHMENT Lf Rih-~~;::~nc. ~ ~. P~(;lI"" 8 ~'-f ;4s.$;>,'6.."",. <::.",.lS-Y STATEOF~~t1r~ ) ) SS. COUNTY OF i\Fflat'li, ) C'~,.,.~"- The foregoing instrument WClS aCknowledged before me this .::> 1. d9X-a! .April, 2001, by ~#( '.:So. 2a...:"': ft." A-,!;sr. c..,,,,,, Ci........sd -..ks....U= of ~n..~ ~ ~~....C'...,... Ci>~i""'....", I~. Witness my hand and official seal; My commission expires: ----1---1_ ~o)O"~ NA"lCYE.CI.Al',g ~ ll2l1 ~ Ml'COMMlSSION#CC7229l!1 I ""''!'#' EXl'll'ES,03iOStZ002 l.soo.~O'tAln fU,~ow:y~GtJaon4iil2 ~rL. 'Notory ubli ~ ----- AC~,.Af',JCE BYTHEASPEN/PI!J<Il'IfOUNTYHOUSING AUTHORITY The foregoing OCCUPANCY AND RE:NTAI.IRESALE {)Eel) RESTRICTtON ANO AGREEMENT FOR A$PEN HIGKANDS VIU..AGe AFFOROASr.e HOlJstNG and its terms (Ire hereby adopted 0"0' deelared by the AspenlPitkin County Housing Authority. THE ASPEN/P!T/aNCOUNTY HOUSING AUTHORITY BY' Mary J. Roberts. Executive Director STATE OF COLORADO ) } ) ss. COUNTY OF P!T1<..TN The foregoing instrument was acknowledged berore me this day or March, 2001, by Mary J. Roberts. Executive Director. ASpen/Pitkin County Housing Authority. Witness my hand end official seal; My commission expires: I 1- Notary Pub!ic tloed ~cti.~ 1'or Aspe~ HiBhl.~.. Villose Affordat>le Hc!.lsi~g l'oqell ., . MA~ 22, 2001 9:08AM ~ES ASPEN HIGHLANDS VILLAGE f"'l NO. 783 P 13 I I. '. " EXJ./ISIT'~" '''''''I1.CHMENT~ Descri'ption of the Affordable i1qusing Units for The Units Located in BUIlding 8, 8khol"n Lodge CATE- RENT! SALEs OR BLDG ADDREss GoP.Y SALEs BDRMS SQ. FT. RENTAL RATeS 8 0039 BoomerangRd,#8121* 3 Sales/Rent 3 1,445 $149.000/$1,304 8 0039 BoomerC/'lg Rd. #8120* 3 Sales/Rent 3 1.307 $149,000/$1.304 8 0039 lloomerangRd. #8123 3 Sales 3 1.293 $149.000 S 0039 Boomerang Rd. #8122 3 Sales 3 1.307 $149,000 8 0039 Boomerdng Rd. #8124 3 Sales 3 1,318 $149.000 8 0039 Boomerang Rd, #8125 3 Sales :3 1,330 $149,000 S 0039 Boomerang Rd, #8126 3 SaleS 3 1.330 $149,000 "Units where the initial sale is chosen by the Declarant for the Aspen Highlands Village. The rental rates are per month maximum rates. Appliances includecl in the s<lles price are stated below: . Refrigeratol"' . Dishwosher · Range . Washer and Dryer Deed ~<ti"" far' A."..n Highlands Village Affordable Housing Page la t ! . MAY 22.2001 9 08AM ~ES ASPEN HIGHLANDS VILLAGE ,1 a NO, 783 P 14 t=v1 1...'8........ "'811 ;;;^n~ .. I Permitted Capital ZmprovetnellfE Fer $(!/es I,/.J?its A1TACHMENT L( , t I i .. ~ 1. The term It?ermitted C:.ipiti:il Improvement" as iJsed in th~ Agi"ee.me.'i't ShilU only ind\.ide tn$ Tollowin9' a. Improvementsor fixtures erected, installed or attached os perrnonent, functional. n9"- decorative improvements to real property. exeludill9 repoir, replacement and/or m<:tintenol'!ceimprovements: b. !mprovemerrtsfor el'ergyCl'ld water conservation: c. !mprovelTlentsfor the benefit of seniors and/or handicapped persons: d, Improvements for health and safety protection devices: e. Improvements to odd and/or finish perrnanent/fixedstoragespace: and/or f. !mprovementstc finish unfi11ished $pQce. 2. Permitted CClpitcl Imprcvementsas used in this AgreelTlent shall NOT include the following: a. Londscoping; b. Upgrades/replacements of appliances. plumbing and mechanical fixt\lres. carpets Qnd other simi lar items included as port of the original construction of the unit: c. The cost of adding decks Qnd balconies,<lI'!d any extension thereto: d. J'Qo:zzis. SQunas. steam showers and other similal' items: e, Improvements required to repair. replace and maintq:in existing fixtures. QPpIiMces. plumbing ond mechanicol fixtures, painiini/, carpeting and other similar items: q:nd/or f. Upgrades or additien of decorative iterns. including lights, window coverings a"d other similar ite.'liS. 3. All Permitted Capital Improvement items CIl'1d costs shall be approved by the APCHA stcffprior to bei"9 added to the Maximulll Resale Price c$ defined h/!/'eill. !lad Rern;ctjon for Aspen Hig""'o< ViIJ~ Affor!f<!bl<< HoI!~n9 Pose 13 Ma~-ll-Ol 09:2SA yus~ . horn 97~2S 5180 , 1 P.04 i\TTACHMENT , MATTHEW V. STOKES HINES HIGHLANDS LIMITED PARTNERSHIP BOX 5115 ASPEN, COLORADO 81611 970-920-1710 May 11, 2001 James T,indL Aspen Pitkin Community Development DeparLment 130 South Galena Street Aspen, Colorado 81611 Re: Aspen Highlands Village Planned Unit Development: Insubstantial Amendment to a Planned Unit Development to Change Deed Restriction for Two Affordable Housing Units Dear James: Hines Highlands Limited Partnership is the developer of Lhe Aspen Highlands Village. This letter authorizes Davis Horn Incorporated to prepare 2l PUD amendment land use application on our behal.I and represent us in the City of Aspen land use process. The application add.r'esses the deed resrictlon for t.wo affordable housing units located in Building 8, the Ritz Carlton Thanks. Sincerely, 4~P- MATTHEW V. STOKES ASSISTANT CONSTRUCTION MANAGER , HINES HIGHLANDS LIMITED PAR.TNERSHIP Ma~-ll-Ol 09:26A yus~ .. horn 97.--S25 5180 ,.., . 1 P.06 -~ ATTACHMENT " ASPENII'ITKIN COMMlJNITY DEVELOPMENT DEPARTMENT AiRement for Pavment of City or Aopen o.velopmelll ",'pli..tion Fee! CITY or ASPEN (here;naft", CITY) and t-I i"c~ \-I. 'J "" \........l;) L-i .....,.,......l 'P~er.rJ,.p (hereinafler APPLICANT) AGREE AS FOLLOWS: I. APPLICIINThlL< .uhmilLed loCrrY an applicaTion for :I:n $.,..............1...\ ""........"J..""'.......~,..o P\.l 0 &;;,,.. C-~.., c..'T'"O (hereinafte.r, TIIEPROIECn. f\ F:C:-"",," ...1..\. ~.......__:~ 0.:-.1. Il....:sr-r;~"'t"<."'" 2. III'PLICIINT undersuUlds and agrees That City of Aspen Onlin...ce No. 49 (Serio. of 1998) c$lablilhes a fee SlntOl\'r. for ~ Us. 'ppJic.ljC)n~ and the p'Ylnenl ofall processing fees is a condiTion precedenl 10 a deTeemination of al'rlieolion completeness. 3. APPLICANT ancl CITY agree 'ha, bocause oflho size, nanlre or scope efthe proposed l'roj.o~ i. is not pO$Sible at lhi. ti.... 10 'SC~ill. the full extent of tbe OOSIS involved in pl'OCcssillll the application. APPLICANT and CITY furrher agree lhat it i$ in the inlerest of the parUes That A PPUCANT make ~Yl1lcnt of an inil;.' deposit Md 10 tbmafter pennit additional CO$IO 10 be hilled to APPLICANT on a monthly basis. APPLICANT a:;ree. addilional COSl$ may accruc follawlllg .heir h.arin~$ andlor approvals. APPLICANT agre.s h. ..ill 1>0 benefi'ed by rmining greater mh liquidity and will malee additional payments Upon notifioation by the CITY Whollthoy arc neoessary IS cosIS arc iccumd_ CITY aSI'eos iT will be benefited 'hrough tho grc~ter certainry of "'covering iLS fall coSlS to pr<<ess APPLICANT'S "I'Plicalian. 4. CITY Md APPLICANT funller agree mal it is impracticable fal' CITY $lIIff to complete prol;;cssin, or present !UmCi~nf infonnatiol1to the Planning CorrllniS-$ion a.nd/or City Council to enabl@ the Plannhlg Commission .,ld/of City Council to molee legally required nadins. for project consideralion, ucle,. eurrenl billings arc paid in full prior ro dcelslo". S. The...fore, APPLICANT ag",es 'hat in cansidel'alioll ofth. CITY's waiver of its righllo collect full fo.s prior to . dClCrlllillalioll of appliClllion eomplelcncs5, AI'PLlCAN1' shall pay an iniTi.1 deposit in lhe .mount of S gL../ 5 whieh is far _ hOllrs of COllllnUlUty Develapment staff lime, .nd if .ctual recorded C051s exceed the inilial deposil. APPLICANT shall pay additional monthly billings to CI1'Y To re.imburse Ihe CITY for \he ploces.illg of the application mentioned above, inell1dj"s post aP\ll'ava! r.view, Sueh po.,;,,,li. payments .h,1l be made wilhin 30 clays of lbe billing date. APPI.IC^NT furrher agrees that failure 10 p.y suoh acc[ucd CoslS shall b. srounds for SU.'))c..;on ofproc<:ssing, and in no CASe will builcling permits b. ;.\sued anlil all cosL... associated with case proc;essil1~ !lave been paid.. .,. ell'\' OF ASI'EN APPLICANT By, Julie Ann Wood, Commllnity Development birec::tor By: ~A#~ nO II. ....0 ~\ Dale: Mailinc Address: is 0)<' t\.~F'" Sl IS" too gll"l... g,\.uppor.lrc>rmslagrpAyn$.doo 12127/99 t, , MAY-04-2001 FR! 01: 12 PM r'l .' I FAX NO. P. 01 ~'. .. tJ CITY OF A.SPEN PRE~APPLICATION CONFERENCE SUMMARY ATTACHMEN; _7 PLANNER: James Lindt, 920.5441 DATE: 5.4.01 -PROJf:.'CT: REPRESE.'1TAT1VE: OWNER: TYPE OF APPLICATION: DESCRIPTION: ! I igh~~I1Ss !r:~~br.M~tia] ,~lanned.unit De'!dopm~nt Anitm~m~nt GJarm- Horn" . Hines Highlands, LLC. Tnsubsmntial l'UDAmendmcnt Change lhe d.,'ed restriction cn a unit at Highlands from a Category J Sale Unit to a Category 3 Priority Rental Unir for an emplcyee in Aspen Highlands Village Public Hcaring: land Use Code Section(s) 26.445.100 Amendment of PUD development order. Review by: Staff for complete applieaticn, referral agencies fer technical consideraticns, Cemmunity Develepment Director for final approval. If Community Develepment Director does not think that it meets criteria for Insubstantial PlJD Amendment then gees te Planning and Zcning Commission for a Public Hearing. If ti,e PUD amendment is approved, the applicant mnst then alter the deed restrictien with Housing Autherity and fe-recerd it. No, unless director feels that it needs to gc to Planning and Zoning Commissien. May havc te go to the !leusing Board if the Housing Authority deems it neecssa!)'. Plannit\g Depesit $500 Housing $345 $845 Planning Fecs: Rcferral Fees: Tctal Deposit: To apply, submit the following information: I. Total Deposit for review of application. 2. Applicant's name, address and telephone number, containcd within a lettcr signed by thc applicant stating the name, address, and telephone number ofthc rcpresentativc authorized to act on behalf of the applicant. 3. Prcof of Ownership. 4. Signed fee agreement. 5. Prc-applicaticn Conference Summary. 6. An 8 1/2" x II" vicinity map locating the subject parcels within the City of Aspen. 7. A written description of the proposal and a written explanation of how a proposed development complies with the review standards relevant to the devclopment application. 8. A copy of the recorded PUD agreemcnt 8. _~_ Copies of the complete application packet (items 1-&) Process: Apply. Planner chccks applicaticn for completeness. Staff refers application to Housing Authority. Housing Authority returns comments. Housing Authority may require referral comments from Housing Board. Staff then reviews application against PUD Amcndment Standards. Tfstafffeels that appllcation meets criteria for Insubstantial Amendment, Community Development Director creates and approves decision notice and developmcnt order. Disclaimer: TJle foregoing summary is advisory in nature enly and is net binding on the City. The summary is based en current 7.oning, which is subject to change in the future, and upon factual representations that mayor may net be accurate, The summary does net create a legal or vested right.