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HomeMy WebLinkAboutDEED RESTRICTIONS hodgsondeedrestrictionDEED RESTRICTION AND AGREEMENT FOR ESTABLISHMENT OF A HISTORIC TRANSFERABLE DEVELOPMENT RIGHT PURSUANT TO ASPEN CITY COUNCIL ORDINANCE #4, SERIES OF 2021 THIS DEED RESTRICTION AND AGREEMENT is made and entered into this _____ day of ______________, 2021, by PHILIP R. HODGSON, individually and in his capacity as the duly authorized trustee of the PATRICIA H. HODGSON FAMILY TRUST (hereinafter referred to as “Owner”), whose address is 212 North Monarch Street, Aspen, CO 81611, and The City of Aspen, a body politic and corporate pursuant to its Home-Rule Charter and the Constitution of the State of Colorado, acting through its City Council, (hereinafter the “City”); WITNESSETH WHEREAS, Owner owns real property more specifically described as 212 North Monarch Street, legally described as the South 62’ of Lots A, B and C, Block 78, City and Townsite of Aspen; Parcel ID# 273707317003, Pitkin County, Colorado, (hereinafter referred to as “Real Property”), which Real Property is designated as a Historic Site, as such are defined in the City of Aspen Land Use Code (“City Code”); and WHEREAS, Owner has submitted an affidavit, duly notarized, in compliance with Section 26.535.090.A.2 of the City Code, and supplied the necessary application materials identified in Section 26.535.090 showing compliance with the criteria set forth in Section 26.535.070 of the City Code; and WHEREAS, The Community Development Department has reviewed Owner’s application according to the review standards identified in 26.535.070 of the City Code, and has recommended approval of the application and the establishment of the first of two (2) approved Historic TDR Certificates as set forth herein; and WHEREAS, City Council Ordinance #4, Series of 2021 (the “Ordinance”) was approved on April 13, 2021, establishing the above referenced Historic TDR Certificates, and requiring that a Deed Restriction be recorded in real property records of Pitkin County, designating the Real Property as a Sending Site and permanently restricting the development of the Real Property (the Sending Site) to an allowable Floor Area not exceeding the allowance for a single- family residence or duplex if allowed, minus two hundred and fifty (250) square feet of Floor Area multiplied by the number of Historic TDR Certificates established; and WHEREAS, in consideration of the establishment of the first of two (2) Historic TDR Certificates pursuant to the Ordinance and City Code, Owner agrees to restrict the Real Property as set forth herein. NOW, THEREFORE, in consideration of the mutual promises and obligations contained herein, Owner and the City hereby covenant and agree as follows: 1. Development of the Real Property (the Sending Site) is hereby permanently restricted to an allowable Floor Area not exceeding the allowance for a single- family residence or duplex as otherwise permitted by the City Code on the Real Property, minus any deductions resulting from previous issuance of TDR certificate(s) and minus 250 square feet, that being two hundred fifty (250) square feet of Floor Area multiplied by the one (1) Historic TDR Certificate hereby established. 2. In consideration of the foregoing, and pursuant to the City Code and the Ordinance, the City shall cause the issuance of one (1) Historic TDR Certificate, executed by the Mayor, allowing the transfer of development rights to a Receiver Site to be determined pursuant to the City Code. This Historic TDR Certificate may be sold, assigned, transferred, or conveyed. Transfer of title shall be evidenced by an assignment of ownership on the actual certificate document. Upon transfer, the new owner may request the City re-issue the certificate acknowledging the new owner. Reissuance shall not require adoption of a new ordinance. The market for such Historic TDR Certificates shall remain unrestricted and the City shall not prescribe or guarantee the monetary value of any Historic TDR Certificates. 3. This deed restriction shall not be construed to stipulate an absolute Floor Area on the Real Property, but only a square footage reduction from the allowable Floor Area, as that allowable Floor Area may be amended from time to time. 4. The Real Property (Sending Site) shall remain eligible for Floor Area incentives and/or exemptions as may be authorized by the City Code, as it may be amended from time to time. 5. This restriction may be modified only in a writing signed by both the Owner and the City. 6. Unless modified as stated above, this Agreement shall constitute a covenant running with the Real Property as a burden thereon for the benefit of, and shall be specifically enforceable by, the City Council of the City of Aspen by any appropriate legal action including, but not limited to, injunction or abatement. [SIGNATURES ON FOLLOWING PAGES] IN WITNESS HEREOF, the parties hereto have executed this instrument on the date and year above first written. OWNER: By:___________________________ Philip R. Hodgson, individually and as Trustee of the Patricia H. Hodgson Family Trust STATE OF COLORADO ) )ss. COUNTY OF PITKIN ) The foregoing instrument was acknowledged before me this ________ day of ______________, 2021, by Philip R. Hodgson. Witness my hand and official seal. My commission expires:___________________ _____________________________ Notary Public APPROVAL OF CITY ATTORNEY By:___________________________ James R. True, City Attorney THE CITY OF ASPEN, COLORADO a body politic and corporate pursuant to its Home-Rule Charter and the Constitution of the State of Colorado By:____________________________ Date:______________ Torre, Mayor STATE OF COLORADO ) )ss. COUNTY OF PITKIN ) The foregoing instrument was acknowledged before me this _____ day of _________________, 2021, by_____________, as Mayor of the City of Aspen, Colorado. Witness my hand and official seal. My commission expires:___________________ _____________________________ Notary Public DEED RESTRICTION AND AGREEMENT FOR ESTABLISHMENT OF A HISTORIC TRANSFERABLE DEVELOPMENT RIGHT PURSUANT TO ASPEN CITY COUNCIL ORDINANCE #4, SERIES OF 2021 THIS DEED RESTRICTION AND AGREEMENT is made and entered into this _____ day of ______________, 2021, by PHILIP R. HODGSON, individually and in his capacity as the duly authorized trustee of the PATRICIA H. HODGSON FAMILY TRUST (hereinafter referred to as “Owner”), whose address is 212 North Monarch Street, Aspen, CO 81611, and The City of Aspen, a body politic and corporate pursuant to its Home-Rule Charter and the Constitution of the State of Colorado, acting through its City Council, (hereinafter the “City”); WITNESSETH WHEREAS, Owner owns real property more specifically described as 212 North Monarch Street, legally described as the South 62’ of Lots A, B and C, Block 78, City and Townsite of Aspen; Parcel ID# 273707317003, Pitkin County, Colorado, (hereinafter referred to as “Real Property”), which Real Property is designated as a Historic Site, as such are defined in the City of Aspen Land Use Code (“City Code”); and WHEREAS, Owner has submitted an affidavit, duly notarized, in compliance with Section 26.535.090.A.2 of the City Code, and supplied the necessary application materials identified in Section 26.535.090 showing compliance with the criteria set forth in Section 26.535.070 of the City Code; and WHEREAS, The Community Development Department has reviewed Owner’s application according to the review standards identified in 26.535.070 of the City Code, and has recommended approval of the application and the establishment of the second of two (2) approved Historic TDR Certificates as set forth herein; and WHEREAS, City Council Ordinance #4, Series of 2021 (the “Ordinance”) was approved on April 13, 2021, establishing the above referenced Historic TDR Certificates, and requiring that a Deed Restriction be recorded in real property records of Pitkin County, designating the Real Property as a Sending Site and permanently restricting the development of the Real Property (the Sending Site) to an allowable Floor Area not exceeding the allowance for a single- family residence or duplex if allowed, minus two hundred and fifty (250) square feet of Floor Area multiplied by the number of Historic TDR Certificates established; and WHEREAS, in consideration of the establishment of the second of two (2) Historic TDR Certificates pursuant to the Ordinance and City Code, Owner agrees to restrict the Real Property as set forth herein. NOW, THEREFORE, in consideration of the mutual promises and obligations contained herein, Owner and the City hereby covenant and agree as follows: 7. Development of the Real Property (the Sending Site) is hereby permanently restricted to an allowable Floor Area not exceeding the allowance for a single- family residence or duplex as otherwise permitted by the City Code on the Real Property, minus any deductions resulting from previous issuance of TDR certificate(s) and minus 250 square feet, that being two hundred fifty (250) square feet of Floor Area multiplied by the one (1) Historic TDR Certificate hereby established. 8. In consideration of the foregoing, and pursuant to the City Code and the Ordinance, the City shall cause the issuance of one (1) Historic TDR Certificate, executed by the Mayor, allowing the transfer of development rights to a Receiver Site to be determined pursuant to the City Code. This Historic TDR Certificate may be sold, assigned, transferred, or conveyed. Transfer of title shall be evidenced by an assignment of ownership on the actual certificate document. Upon transfer, the new owner may request the City re-issue the certificate acknowledging the new owner. Reissuance shall not require adoption of a new ordinance. The market for such Historic TDR Certificates shall remain unrestricted and the City shall not prescribe or guarantee the monetary value of any Historic TDR Certificates. 9. This deed restriction shall not be construed to stipulate an absolute Floor Area on the Real Property, but only a square footage reduction from the allowable Floor Area, as that allowable Floor Area may be amended from time to time. 10. The Real Property (Sending Site) shall remain eligible for Floor Area incentives and/or exemptions as may be authorized by the City Code, as it may be amended from time to time. 11. This restriction may be modified only in a writing signed by both the Owner and the City. 12. Unless modified as stated above, this Agreement shall constitute a covenant running with the Real Property as a burden thereon for the benefit of, and shall be specifically enforceable by, the City Council of the City of Aspen by any appropriate legal action including, but not limited to, injunction or abatement. [SIGNATURES ON FOLLOWING PAGES] IN WITNESS HEREOF, the parties hereto have executed this instrument on the date and year above first written. OWNER: By:___________________________ Philip R. Hodgson, individually and as Trustee of the Patricia H. Hodgson Family Trust STATE OF COLORADO ) )ss. COUNTY OF PITKIN ) The foregoing instrument was acknowledged before me this ________ day of ______________, 2021, by Philip R. Hodgson. Witness my hand and official seal. My commission expires:___________________ _____________________________ Notary Public APPROVAL OF CITY ATTORNEY By:___________________________ James R. True, City Attorney THE CITY OF ASPEN, COLORADO a body politic and corporate pursuant to its Home-Rule Charter and the Constitution of the State of Colorado By:____________________________ Date:______________ Torre, Mayor STATE OF COLORADO ) )ss. COUNTY OF PITKIN ) The foregoing instrument was acknowledged before me this _____ day of _________________, 2021, by_____________, as Mayor of the City of Aspen, Colorado. Witness my hand and official seal. My commission expires:___________________ _____________________________ Notary Public