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HomeMy WebLinkAboutagenda.council.regular.19990712 CITY COUNCIL AGENDA July 12, 1999 5:00 P.M. I. Call to'~rder II. IRoll Calll III. Scheduled Public Appearances a) Auditor's Report IV. Citizens Comments & Petitions (Time for any citizen to address Council on issues NOT on the agenda. Please Iimit your comments to 3 minutes) ' V. Special Orders of the Day a) Mayor's Comments b) Councilmembers' Comments c) City Manager's Comments VI. Consent Calendar (Tt~ese matters may be adopted together by a single motion) a) PropOsal forJnitial Feasibility Study for Municipal Telecommunications Utility- b) Ordinance # 31,1999 - Issuing Sales Tax Revenue Bonds '1 c) Minutes - May 24, June 21, 1999 VII. Public Hearings a) Ordinance #25, 1999 - Burlingame Rezoning ~ c) Ordinance #27, 1999 - i L VIII. Action Items IX. Information Items a) Civic Center Master Plan b) Addition to Alley Pavement Behind Alley 933 E. Durant X. Executive Session - Potential Property Acquisition XI. Adjournment Next Regular Meeting July 26, 1999 COUNCIL MEETS AT NOON FOR AN INFORMAL PUBLIC DISCUSSION, BASEMENT MEETING ROOM TO: Mayor and City Council FROM: Amy Margerum, City Manager{~L/~ RE: Proposal for Initial Feasibility Study for A Municipal Telecommunications Utility. DATE: July8, 1999 .Summary The CE."s franchise with TCI cable expires in September of 1999. We have been working for the past two years on a renewal of the franchise with TCI but have been unsuccessful to date in achieving any of the conditions requested by City Council for a long-term renewal of the franchise (our negotiations are confidential, but detailed information can be made available to City Council upon request or in Executive Session). We are currently pursuing a short -term one extension of the existing TCI franchise (1 - 2 years) in order to pursue alternatives to TCI. One such alternative is to explore the feasibility of developing a Municipal Telecommunication Utility in conjunction with our Electric Utility. This could be a public/private partnership with another cable service and may serve as much needed competition with TCI. Because the City already owns and operates an underground electric utility, which is slated to be replaced in the upcoming years, and could facilitate the inclusion of cable fairly easily, we are in a better position to explore this opportunity than other municipalities. The first step would be to determine if such an entity was financially and technically feasible. Please find attached a proposal from the NMPP's Essent Services Division which .is the only group to provide expertise in both municipal electric utility services and telecommunications services. If City Council agrees with the concept and the initial funding of approximately $26,000 for this approach, we will return to City Council with a more formal scope of work and contract for your next agenda. Background: City Council previously allocated $30,000 to hire River Oaks Communications to assist with a Needs Assessment for Telecommunications and to negotiate and prepare the TCI franchise Agreement for City Council's review. Because of the extensive work already completed by River Oaks, we will attempt to negotiate with NMPP to lower the price of this proposed Feasibility Study. The status of the TCI negotiations will be discussed with City Council in Executive Session. Financial Implications: The initial feasibility study will cost approximately $26,000. This is not budgeted and would need to come from the General Fund balance or from the Electric Fund which does not have a strong fund balance this year but is expected to be very healthy in out years. Staff recommends that.wherever the funds are allocated, the Electric Fund should eventually reimburse the General Fund for this expense. Recommendation: Staff recommends that City Council direct staff to return with a contract for an Initial Feasibility Study for a Municipal Telecommunications Utility with NMPP for a cost not to exceed $26,000 which shall included on the next Appropriations Ordinance as an expenditure from the General Fund as a loan to the Electric Fund. ALM-O7/OB/99-c:~msoffice\winword\CCMEMO.DOT Nr4FF Energy Annual Neeting . ..... t rc !.. 999 Amy Margerm 'Res~ ' Ci~ Manager By D~e: Z30 S. Galena 5~eet For: ~peq CO 8ZGZ~4902. Re: Hunicipal Tel~ommuni~ons Utili~ Zn response to your inqui~, we 'have' enclosed an e~iew of sent SeNi summa~ scope of seNice for the initial feasibili~ ~udy for a Municipal Telecommunications U~li~ and a resolution to join ~sent. ~e study as proposed for ~pen will deal only with ~e Ci~ of ~pen. ~f ~e Coun~ wishes to pa~icipate in the study, we can discuss fu~er and revise co~ e~imates and timelines. ~e proposed ~udy also would not include any inffastru~ure that may or may not exist ou~ide the ci~ fimi~ (if ~udy cove~ only ~e ciW) or coun~ limi~ (if ~udy is expanded to cover the counW). ~ presented in the oveNjew, the co~ to join ~sent is based on number of ele~ric meters in the Ci~ plus a base fee. Zfwe e~imate ~pen has approximately 2,000 metere, the membemhip fee would be the base fee of $2,000 plus 2,000 meters ~mes $Z/meter for a total of approximately $4,000. ~e cost to p~fform ~e base scope ~udy for the Ci~ will be $2Z,600. For ~at price, the Essent team will spend one day in ~pen gathering the initial information (if morn visi~ am required, ~ese would be billed to the ci~ at a~ual cost). A dm~ mpo~ will be prepared and delivered approximately 6 wee~ a~er ~e ~r~ mee~ng, Comm~ and sugge~ons from · e Ci~ will be incorporated into a final mpo~, which will be presented by a member d ~e ~sent team to ~e CiW Courtall and offier appropriate pe~onnel ~ffiin ~o wee~ of receipt of commen~. Zn an eadier conve~a~on, you men~oned-ffiat Rivema~ Communica~ons has atmady done a needs assessment for ~pen and asked whether ~is could be used to reduce ~e co~ of · e Bsent ~udy. Z will ~iscuss the needs assssment wi~ Rivema~ to dete~ine wheffier or not ~eir assessment mee~ our cdteda. Z will respond to ~is qu~on as soon as ~ have ~lked to someone at Rivema~. Amy Margerum March 2, 1999 .City of Aspen Page 2 if Aspen elects to join Essent and proceed with a feasibility study, we will se~d a contract for the study once we know: 1) whether the study will cover only the City or also include the _ County and 2) whether we are able to use the Riveroaks needs assessment. The cost of the feasibility study as stated above may be modified depending on the decisions made in :~) and 2). Please feel free tc~ cail me or Gary L~y at ~-800-234-2595 if you have questions regarding the enclosed material. David M. Martin Telecommunications Manager DMM:bp Enos. Essent Services, Inc. Overview of Municipal Telecommunication Systems and Services High-speed Intemet access, broadband communications, ISP, fiber optics, coax cable, DSL.. ·..telecommunications! In all forms--voice, data, video, wired, wireless, cable TV and satellite ...talecommunication systems and services enable people within a community to communicate and share information with each other and with other individuals and organizations on a regional, national and global level· This information is power--power to learn, grow, improve set .ces, keep businesses in town, etc, 3ust as electricity, street and sewer systems are core infrastructures serving residents, businesses and government, an "information infrastructure" has become a community-wide requirement. Easy access to information can improve delivery of services to citizens and businesses, streamline internal operations of municipal government, bring educational resources and new opportunities to local schools, provide local hospitals with access to potentially life- saving information, and enable local businesses to prosper in a global marketplace while remaining "local"--often even creating new jobs in a changing economy! · Given the evolving nature of the telecommunications landscape, establishing a mun.idpal telecommunication system can be a significant, undertaking. Planning for immediate needs and ensuring the final system is both adaptable and expandable enough to satisfy future needs requires a comprehensive evaluation. That's where Essent comes in. What is Essent? Fssent is a non-profit corporation formed in 1998 by a group of municipalities to meet their own telecommunication needs and offer a turn-key approach to other communities seeking a similar approach. NMPP EnercJy, Black and Veatch Telecommunications, Tnc. and Pioneer Holdings, LLC comprise the Essent project team, and each member of the team provides a specific expertise. NMPP Energy (NMPP). For the past 24 years, NMPP has provided municipal utilities with energy services, electric power and natural gas. NMPP's :167 member municipalities are concentrated in nine mid-western states. Having developed successful partnerships with municipalities whose population ranges from 345 to 192,000, NMPP staff understands and appreciates the particular issues faced by municipal staff and elected and appointed officials of municipal government. EssentServices, lnc. Black and Veatch Telecommunications, Znc. (BV'I'Z). From wireless and wireline networks to LAN/WAN's and satellite communication systems, BV~'s capabilities cover the full range of advanced telacorn technologies and applications. A successful integrator and provider of facilities and infrastructure to a variety of industries, BV~ has designed and built massive and complex structures worldwide utilizing advanced communication systems. BV'~ has developed its own turnkey deployment tools and strategies specifically for telecommunications projects. Pioneer Holdings (Pioneer). Pioneer is jointly owned by Long Lines, Ltd., Northwest Iowa Power CoOperative and MC~. Pioneer is a provider of wholesale and retail communication services, including local and long distance telephony, data and Tnternet access. Pioneer recently began offering talecommunication services through the dty of Hawarden, Iowa, where the penetration rate for city-provided cable TV service is greater than the previous provider and 97% of the community subscribed to the city's telephone service. Essent provides a turnkey solution to municipal talecommunication needs, enabling a municipality to focus its efforts on developing a vision and delivering resutts. Essent provides specialists experienced in planning, designing, constructing and servicing talecommunication systems. Essent's involvement from conception to implementation is unique in the industry-- as is Essent's familiarity with municipal utilities and legislative constraints. Uniquely qualified to help municipalities achieve their telecommunication objectives, the Essent project team brings to a project: · Recent experience working with municipalities and utilities in the planning, design and implementation oftelecommunication systems · Unique experience and knowledge of utility operations and the needs of utility customers · A comprehensive understanding of the opportunities and risks associated with telecommunicatigns ventures · Project management experience · .The ability to serve as an alternate services provider The Essent project team also has developed a network of resources and industry experts in the areas of technology, regulatory and legislative matters, financial analysis, bonding and marketing to insure that access to required expense is readily available. All members of the project team have significant involvement, input and participation in all phases of a project. This innovative synergy of "best of class" rirms working together through all phases assures participating municipalities of the best quality product Essent can provide. February 1999 Page 2 Essent Services, Inc. Some current Essent projects Essent is currently investigating fie feasibility of establishing a telecommunications network and associated services for the following communities: Central City, Chappell, Holdrege, Red Cloud, Sidney, South Sioux City and Superior NE; Rock Falls ZL; and Gillette WY. More specific information on these projects plus contact names at each location are available upon request. How does my community utilize Essent's services? To become an Essent participant, a municipality must pass a resolution to join, pay a one-time membership fee of $2,000 base fee plus $:Z per electric meter, and join the Nebraska Municipal Power Pool if not already a member. A member of Essent may contract for a comprehensive range of services. The following services, are available on a stand-alone or package basis: Feasibility studies and strategic business pJanning . Facilitation for workshops and community focus groups Cable TV franchise reviews/negotiations Conceptual design · Development of construction and operation cost estimates · Revenue model and risk assessment · Market analysis · Assistance with obtaining financing for the project · Project management · Detailed design · Procurement · Construction · Testing · Provision of services -High-speed Intemet -High-speed data -Local and long-distanCe telephony -Cable 'IV programming February 1999 Page 3 Essent Services, Inc. Scope of Service for a Municipal Telecommunications Utility Feasibility Study · Base Scope of Service The base scope of service comprises a preliminary feasibility study. The purpose of this study is to provide sufficient basic information to a community to determine whether they should further pursue a telecommunications project. 'If the base scope study shows promise, then the community can make a "go-no/go" decision about moving forward with the project. Essent's preliminary feasibility study is divided into three phases: · Phase T - Gather Pertinent Information and EstabliSh Strategic Direction The Essent team wilt gather demographic, geographic, economic and other pertinent information regarding a community. Essent representatives will spend one day in the community with key personnel (business leaders, economic development personnel, members of the City Council, personnel from local schools, Chamber of Commerce, etc.). Areas of discussion include the general business environment within which the community is ~ currently operating, environment envisioned for the future, business objectives and the establishment of a preliminary strategic direction for reaching the community's talecommunications goals. An initial assessment will be made of market opportunities and market demand, along with an analysis of the current and anticipated competitive environment. The preliminary scope of work will include, but not necessarily be limited to: · Assessing the feasibility of building a broadband municipal talecommunications utility for the community, using a single technology or a combination of technologies for ' service delivery, -Several technologies will be considered, including a hybrid fiber optic cable system (HFC), a fiber-to-the-curb (FTI'C) system, a fiber-to-the-home (FTTH) system and wireless communications. · Estimating the costs of designing, constructing and operating a municipal talecommunications utility in the community. · Evaluating potential uses of a municipal telecommunications network, taking into consideration the existing network and the future needs of the community. -Communicatjons for schools, municipal government, library, etc. -Utility uses, such as SCADA, remote meter reading, telemetaring, load management, etc. -Business and residential security and video surveillance -Enhanced local communications -Telephony -Znternet access -Cable TV · Phase ZZ - Coml~i/e Inform, ution and Deve/op Recommendations and Cost Gstimate$ The Essent team will compile and summarize the information gathered from the on-site visit, including preliminary findings of the community's current and future telecommunications needs. Recommendations and preliminary cost estimates will be provided. The preliminary findings will include, but not necessarily be limited to: · Zmportance of telecommunications in a competitive environment General cost/benefit analysis of the project · Concerns and risk factors Pros and cons of various telecommunications technologies · Future use considerations · General revenue/cost per customer for recommended services · Procedure for establishing a municipal telecommunications utility · ' Schedule for system installation and service set-up · Phase ZZZ - l~resen~ab~n of Find/ng$ Essent wilJ present the overall results of the preliminary study to the community. The written materials will be compiled into a presentation-style repor~ with appendices containing supporting documentation. 2~ssent Services, Inc. ,4ppointment of ~epresentative & ,41ternate to Essent Services, Inc Members' Council NOW TKEREFORE, BE IT RESOLVED by the of the City/Village of that: 1. Such (City/Village) be and hereby is authorized to become a member of Essent Services, Inc., and to do all things necessary and proper to attain such membership. 2 The of the (City/Village) of , State of does hereby appoint as the representative of the (City Village) of . State of . to the Members' Council of Essent Services, Inc. 3. The of the (City/Village) of , State of o does hereby appoint as the alternate representative of the (City Village) of , State of , to the Members' Council of Essent Sez'v~ces, Ittc. This is to certiJ~ that the appointment(s) set out above was (were) approved by the City Council/Village Board/Town Board of Trustees at the City Council/Village Board/Town Board of Trustees meeting Of ,19 City/Village/Town Clerk sr~ar~linc',pfcccdu~.s~nu-c.w~d b ; Memo -- To: Mayor and City Council From: Tabatha Miller, Finance Director~ Thru: Amy Margerum, City Manager · RE: Emergency Ordinance for Bond Approval Date: July 7, 1999 SUMMARY: An emergency ordinance to approve the issuance of the $13,890,000 in Sales Tax Revenue Bonds, Series 1999, is included for first reading on July 12, 1999. BACKGROUND: On June 29, 1999 Council approved a contract with Bigelow and Company for underwriting and financial advising services related to the issuance of the City's $13,890,000 Sales Tax Revenue Bonds. Sedes 1999. Staff and Bigelow will be marketing the bonds on July 8~, in order to lock in interest rates. Marketing is essentially the process of taking bids and commitments on the City's bonds. After marketing and final approval of the attached ordinance the bonds can be officially sold. We are requesting Council approve the attached emergency ordinance approving the issuance of such bonds. An emergency ordinance is being used so that the ordinance will be effective immediately after second reading instead of the normal thirty day waiting pedod. This allows the City to receive the bond proceeds the first part of August, instead of the last part of August. A few items are missing from the attached ordinance because they are dependent on the marketing of the bonds. Staff will supply the additional items to Council dudng the meeting on July 12~, along with an update of the interest rates obtained. PROPOSED MOTION: Approve this Ordinance and first reading through approving the consent calendar. · Page I ORDINANCE NO.'~ (SERIES OF 1999) AN ORDINANCE AUTHORIZING THE ISSUANCE OF $13,890,000, AGGREGATE PRINCIPAL AMOUNT OF CITY OF ASPEN, COLORADO, SALES TAX REVENUE BONDS, SERIES 1999; AUTHORIZING THE USE OF THE PROCEEDS THEREOF FOR THE PURPOSE OF CONSTRUCTING AND IMPROVING CERTAIN CITY RECREATIONAL AND PARK FACILITIES, FUNDING A RESERVE FUND AND PAYING COSTS OF ISSUING SAID SERIES 1999 BONDS; PROVIDING THE FORM, TERMS AND CONDITIONS OF SAID SERIES 1999 BONDS, THE MANNER AND TERMS OF THEIR ISSUANCE, THE MANNER OF THEIR EXECUTION, THE METHOD OF PAYING THEM AND THE SECURITY THEREFOR; PLEDGING CERTAIN SALES TAX PROCEEDS OF THE CITY FOR THE PAYMENT OF SAID SERIES 1999 BONDS; PROVIDING CERTAIN COVENANTS AND OTHER DETAILS CONCERNING SAID SERIES 1999 BONDS AND THE SALES TAX REVENUES; RATIFYING ACTION PREVIOUSLY TAKEN AND APPERTAINING THERETO; AND DECLARING AN EMERGENCY AND PROVIDING FOR THE EFFECTIVE DATE OF THIS EMERGENCY ORDINANCE. WHEREAS, the City of Aspen (the "City"), in the County of Pitkin and State of Colorado, is a legally and regularly created, established, organized and existing municipal corporation under the provisions of Article XX of the Constitution of the State of Colorado and the home rule charter of the City (the "Charter"); and WHEREAS, under the Charter, the City is possessed of all powers which are necessary, requisite or proper for the government and administration of its local and municipal matters, all powers which are granted to home rule municipalities by the Colorado Constitofion, and all rights and powers that now or hereafter may be granted to municipalities by the laws of the State of Colorado; and WHEREAS, the City, pursuant to Ordinance No. 16, Series of 1970 (the "Sales Tax Ordinance") levies a one percent (1.00%) sales tax (the "Open Space Sales Tax") on all sales of tangible property and services specified in Section 23.32.090 of the City's Municipal Code for the payment of food tax refunds, and for the acquisition of real property including open space or construction of capital improvements for municipal purposes, or the payment of indebtedness incurred for such acquisition or construction of capital improvements for municipal purposes, for the expenditures necessary to protect such property against loss, damage Or destruction; and WHEREAS, receipts from the Open Space Sales Tax are required to be set aside in a separate fund entitled "Parks and Open Space Fund" and expended by the City Council solely for the acquisition of parks, trails and open space real property, for the construction of improvements on any real property, owned or purchased by the City 'for parks, trails and open space purposes, for the maintenance of real property owned by the city and used for parks, trails and open space, 02-39207.04 and for payment of indebtedness incurred for acquisition or improvement of parks, trails and open space real property, food tax refunds payable by the City, and for such expenditures as may be necessary to protect real property or the improvements thereon owned by the City for parks, trails and open space purposes and for the payment of sales tax revenue bonds issued by the City; and WHEREAS, Section 10.5 of the Charter provides in relevant part: The City shaH, in addition, have the authority to issue revenue bonds... payable in whole or in part from the imposition of a sales or use tax by the State of Colorado, or any agency thereof. ... No revenue bonds shall be issued until the question of their issuance shall have been approved by a majority of the electors voting on the question at a regular or special election; .... ; and WHEREAS, the following question regarding the issuance of sales tax revenue bonds was submitted to the electors of the City as the City's May 4, 1999 biennial general municipal election, and was approved by a majority of those voting on the question: SHALL CITY OF ASPEN DEBT BE INCREASED $13,894,000.00, WITH A MAXIMUM REPAYMENT COST OF $24,100,000.00 (BUT WITH NO INCREASE IN THE ClTY'S EXISTING TAXES), FOR THE PURPOSE OF CONSTRUCTING AND IMPROVING CERTAIN CITY RECREATIONAL AND PARK FACILITIES, INCLUDING, BUT NOT LIMITED TO: .CONSTRUCTION OF A SWIMMING POOL AT ISELIN PARK; .CONSTRUCTION OF A NEW CLUBHOUSE, PROSHOP, NORDIC CENTER AND RESTAURANT AT THE CITY'S MUNICIPAL GOLF COURSE; .RENOVATION OF THE CITY'S EXISTING ICE RINK AT THE ICE GARDENS; AND .CONSTRUCTION AND RENOVATION OF BASEBALL/SOFTBALL FIELDS, TENNIS COURTS, BASKETBALL COURTS, TRAILS AND PEDESTRIAN WALKWAYS AND ANCILLARY PARKING FACILITIES, LANDSCAPING AND RELATED IMPROVEMENTS THROUGHOUT THE CITY'S PARK SYSTEM, INCLUDING: *ISELIN PARK; 02-39207.04 · MOORE PLAYING FIELDS; ,THE ASPEN SCHOOL DISTRICT CAMPUS; ,PLUM TREE PARK; ,WAGNER PARK; · THE YELLOW BRICK SCHOOL BUILDING; ,THE RIO GRANDE TRAIL; AND -CEMETERY LANE; SUCH DEBT TO CONSIST OF THE ISSUANCE AND PAYMENT OF SALES TAX REVENUE BONDS, PAYABLE FROM THE EXISTING ONE PERCENT SALES TAX OF THE CITY DEPOSITED TO THE PARKS AND OPEN SPACE FUND OF THE CITY; WHICH BONDS SHALL BEAR INTEREST AND MATURE, BE SUBJECT TO REDEMPTION, WITH OR WITHOUT PREMIUM, AND BE ISSUED, DATED AND SOLD AT SUCH TIME OR TIMES, AT SUCH PRICES (AT, ABOVE OR BELOW PAR) AND IN SUCH MANNER AND CONTAINING SUCH TERMS, NOT INCONSISTENT HEREWITH, AS THE CITY COUNCIL MAY DETERMINE; AND SHALL ANY EARNINGS (REGARDLESS OF AMOUNT) FROM THE INVESTMENT OF THE PROCEEDS OF SUCH BONDS CONSTITUTE A VOTER- APPROVED REVENUE CHANGE? ; and WHEREAS, in accordance with the authority above granted, the City Council hereby determines to issue its "City of Aspen, Colorado, Sales Tax Revenue Bonds, Series 1999" (the "Series 1999 Bonds"), including registered interest coupons relating thereto (the "Registered Coupons"), payable solely from sales tax revenues of the City deposited to the City's Parks and Open Space Fund; and WHEREAS, the Series 1999 Bonds, including the Registered Coupons, will be issued, sold and delivered by the City to Bigelow & Company, Denver, Colorado (the "Underwriter") as provided herein; and WHEREAS, there are no other obligations of the City having a lien upon the Pledged Revenues other than the Series 1999 Bonds; and WHEREAS, all things necessary to mike the Series 1999 Bonds and the Registered Coupons when authenticated by the Paying Agent (as defined herein) and issued as provided in this Ordinance, the valid, binding and legal obligations of the City according to the import 02-39207,1M 3 thereof, and to constitute this Ordinance a valid assignment and pledge of the amounts pledged to the payment of the principal of, premium, if any and interest on the Series 1999 Bonds, including the Registered Coupons, have been done and performed, and the creation, execution and delivery of the Series 1999 Bonds, including the Registered Coupons, subject to the terms hereof, have in all respects been duly authorized. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ASPEN, COLORADO: Section 1. Definitions. The terms defined in this Section shall have the designated meanings for all purposes of this Ordinance and of any amendatory or supplemental ordinance, except where the context by clear implication requires otherwise. "Bond Fund' means the Bond Fund created pursuant to Section 13 hereof. "Bond Year" means the one-year period beginning on the date of the Series 1999 Bonds and ending the day before the first anniversary date of the date of the Series 1999 Bonds, and each one-year period thereafter. "Business Day" shall mean any day on which banks located in the City, located in the City of New York, New York or located in the city in which the principal corporate trust office of the Paying Agent is located are not required or authorized by law to remain closed and on which The New York Stock Exchange is not closed. "Cede" means Cede & Co., the nominee of DTC, and any successor nominee of DTC. "Charter" means the Home Rule Charter of the City, as amended. "City" means the City of Aspen, Colorado. "Code" means the Internal Revenue Code of 1986, as amended. "CounciF' means the City Council of the City. "DTC" means The Depository Trust Company, New York, New York, and its successors and assigns. "Event of Default" means any occurrence or event specified in and defined by Section 26 hereof. "Federal Securities" shall have the meaning ascribed to such term in Section 24 hereof. "Investment Instructions" means the letter of instructions provided to the City on the date otissue of the Series 1999 Bonds in accordance with Section 17 hereof. 02-39207.04 4 "1970 Sales Tax Ordinance" means Ordinance No. 16 (Series of 1970), adopted by the City Council of the City on July 13, 1970, and approved by the qualified electors of the City on September 1, 1970, which levies the City's Open Space Sales Tax. "Open Space Sales Tax" means the 1% sales tax levied by the City on the sale of tangible personal property at retail and the furnishing of services in the City pursuant to the 1970 Sales Tax Ordinance. "Ordinance" means this Ordinance, and any amendments or supplements hereto as may be adopted by the Council in compliance herewith. "Participants" means those broker-dealers, banks and other financial institutions from time to time for which DTC holds Series 1999 Bonds and Registered Coupons as a securities depository. "Paying Agent" means Norwest Bank Colorado, National Association, in Denver, Colorado, or its successors. "PermittedInvestments" means any investment which is a legal investments for the City. "Pledged Revenues" means for each fiscal year all of the proceeds of the Open Space Sales Tax after deduction of the reasonable and necessary costs and expenses of collecting and enforcing the Open Space Sales Tax, if any. "Project" means the construction and improvement of City recreational and park facilities. "Rebate Fund" means the Rebate Fund created pursuant to Section 13 hereof. "Registered Coupons" means the separate, detached registered coupons evidencing supplemental interest on the Series 1999 Bonds designated as "B," as set forth in Section 5 hereof. "Registered Owner" means the person or persons in whose name or names a Series 1999 Bond or a Registered Coupon shall be registered on the books of the City maintained by the Paying Agent kept for that purpose in accordance with provisions of this Ordinance. "Regular Record Date" means the fifteenth day of the calendar month (whether or not a Business Day) prior to each interest payment date with respect to the Series 1999 Bonds. "Representation Letter" means the representation letter from the City to DTC. "Reserve Fund' means the Reserve Fund created pursuant to Section 13 hereof. "Reserve Fund Requirement" means $ , which is the maximam principal of and interest on the Series 1999 Bonds in any Bond Year. 02-39207.04 5 "Revenue Func[' means the Revenue Fund created pursuant to Section 13 hereof. "Series 1999 Bonds" means the "City of Aspen, Colorado, Sales Tax Revenue Bonds, Series 1999." "Special Record Date" means a special date fixed to determine the names and addresses of Registered Owners for purposes of paying interest on a special interest payment date for the payment of defaulted interest, all as. further provided in Section 5 hereof. "Underwriter" means Bigelow & Company, Denver, Colorado. Section 2. Ratification. All action heretofore taken (not inconsistent with the provisions of this Ordinance) by the Council and officers of the City relating to the levy and collection of the Open Space Sales Tax, to finance the Project and to the authorization, sale and issuance of the Series 1999 Bonds, incinding the Registered Coupons, is hereby ratified, approved and confirmed. Section 3. Authorization of Financing of the Project The financing of the Project is hereby authorized and the necessity thereof declared. Section 4. Authorization and Sale of Series 1999 Bonds and the Registered Coupons. There are hereby authorized and directed to be issued the revenue bonds of the City to be designated "City of Aspen, Colorado, Sales Tax Revenue Bonds, Series 1999" in the aggregate principal amount of $13,890,000. The principal of, premium, if any, and interest (except as herein otherwise provided) on the Series 1999 Bonds, including the Registered Coupons, are payable from, and secured by, the Pledged Revenues. The Series 1999 Bonds, including the Registered Coupons, as herein authorized shall be sold to the Underwriter at a price equal to the principal amount thereof, plus accrued interest from August 1, 1999 to the date of their delivery, less an underwriting discount of $ and less as original issuing discount of $ The Preliminary Official Statement, dated June30, 1999, relating to the Series 1999Bonds and the Registered Coupons is hereby approved and the use thereof by the Underwriter is hereby ratified and confirmed. The Mayor is authorized and directed to execute or deliver to the Underwriter a final Official Statement in substantially the form of the Preliminary Official Statement. Section 5. Series 1999 Bond and Registered Coupon Details. The Series 1999 Bonds shall be issuable as fully registered bonds in the denomination of $5,000 or any integral multiple thereof. The Registered Coupons shall be issued as fully registered coupons in denominations of $5,000 in the amount of "B" interest due on the "B" interest payment dates set forth in this Section. The Series 1999 Bonds shall be dated as of August 1, 1999 and shall bear interest designated "A" payable semiannually from their date or such later dates as to which interest has been paid on each May I and November 1, commencing May 1, 2000. "B" interest represented by the Registered Coupons shall accrue and be paid as provided in this Section. The Series 1999 Bonds shall be consecutively numbered, beginning with the number one, preceded by the letter 02-39207.04 6 "R." The Registered Coupons shall be consecutively numbered, beginning with the number one, preceded by the letters "RC." The Series 1999 Bonds shall bear interest designated "A" at the rates (per annum), mature in the principal amounts and mature on November 1 of the years specified as follows: Maturity Principal Amount "A" Interest Rate 2001 2002 2003 2004 2005 2006 2007 2008 2009 2014 2019 In addition to the interest rates designated as "A" interest on the Series 1999 Bonds set forth above (which do not include the "B' interest), all of the Series 1999 Bonds shall bear supplemental interest, designated as "B" interest and evidenced by the Registered Coupons in the amounts set forth below, which amounts have been calculated at the "B" interest rates set forth below, using a 360-day year of twelve 30-day months, as applied to an accrual period commencing twelve-months prior to the "B" interest payment dates set forth below and ending on the "B" interest payment dates for the weighted average maturity principal amount of the Series 1999 Bonds scheduled to be outstanding during such acereal periods: "B" Interest "B" Interest Due on "B "B" Payment Date Interest Payment Date Interest Rate November 1, 2000 The principal of, premium, if any, and interest designated on the Series 1999 Bonds shall be payable in lawful money of the United States of America, with the principal of and premium, if any, on the Series 1999 Bonds and the "B" interest represented by the Registered Coupons payable at the principal corporate trust office of the Paying Agent. Payment of interest on any Series 1999 Bond designated "A" shall be made to the Registered Owner of the Series 1999 Bond and shall be paid by check or draft of the Paying Agent mailed on the interest payment date to the Registered Owner at his or her address as it appears on the registration books of the City or at such other address as is furnished to the Paying Agent in writing by such Registered Owner as of the Regular Record Date for such Interest Payment Date; but any such interest designated "A" not so timely paid or duly provided for shall cease to be payable to the person who is the 02-39207.04 7 Registered Owner of the Series 1999 Bond at the close of business on the Regular Record Date and shall be payableto the person who is ihe Registered Owner of the Series 1999 Bond at the close of business on a Special Record Date for the payment of any such defaulted interest designated "A'~. Such Special Record Date shall be fixed by the Paying Agent whenever moneys become available for payment of the defaulted interest designated 'W', and notice of the Special Record Date shall be given to the Registered Owners of the Series 1999 Bonds not less than 10 days prior to the Special Record Date by first-class mail to each such Registered Owner as shown on the registration books on a date selected by the Paying Agent, stating thd date of the Special Record Date and the date fixed for the payment of such defaulted interest. If any Series 1999 Bond shall remain unpaid upon presentation at maturity, interest shall continue to accrue until paid at the rate designated "A" in said Series 1999 Bond. Payment of the "B" interest represented by the Registered Coupons shall be made to the Registered Owner thereof Section 6. Redemption. (a) Optional Redemption. The Series 1999 Bonds maturi,}g on or before November 1, 2009 shall not be subject to redemption prior to their respective maturities. The Series 1999 Bonds maturing on and after November l, 2010 shall be subject to redemption prior to their maturity, at the option of the City, in whole or in part, in integral multiples of $5,000, and if less than all of the Series 1999 Bonds are to be redeemed, from such maturity or maturities selected by the City and by lot within a maturity as the Paying Agent shall determine (giving proportionate weight to Series 1999 Bonds in denominations larger than $5,000), on November I, 2009 and on any date thereafter, at a redemption price equal to the principal mount of each Series 1999 Bond or portion thereof so redeemed, plus accrued interest to the redemption date. (b) Mandatory 8inlbtg Fund Redemption. The Series 1999 Bonds maturing on November 1, , are subject to mandatory sinking fund redemption at a price equal to the principal mount thereof plus accrued interest to the redemption date. The Series 1999 Bonds subject to mandatory sinking fund redemption shall be selected by lot in such manner as the Paying Agent shall determine (giving proportionate weight to the Series 1999 Bonds in denominations larger than $5,000). The City shall redeem the Series 1999 Bonds subject to mandatory sinking fund redemption on each November 1, commencing on November 1, .... , through November 1. in the following principal mounts: Year Principal Amount The remaining $ of the Series 1999 Bonds maturing on November 1, · shall be paid upon presentation and surrender at maturi~ uniess redeemed 02-39207.1M 8 pursuant to optional redemption prior to maturing. On or before the thirtieth day prior to each such payment date, the Paying Agent shall proceed tO call the Series 1999 Bonds indicated above (or any Series 1999 Bond or Series 1999 Bonds issued to replace such Series 1999 Bonds) for redemption from such sinking fund on the next November 1, and give notice of such call without further instruction or notice from the City. The Series 1999 Bonds maturing on November 1, .. , are subject to mandatory sinking fund redemption at a price equal to the principal amount thereof plus accrued interest to the redemption date. The Series 1999 Bonds subject to mandatory sinking fund redemption shall be selected by lot in such manner as the Paying Agent shall deterrnine (giving proportionate weight to the Series 1999 Bonds in denominations larger than $5,000). The City shall redeem the Series 1999 Bonds subject to mandatory sinking fund redemption on each November 1, commencing on November 1, , through November 1, in the following principal amounts: Year Principal Amount The remaining $ of the Series 1999 Bonds maturing on November 1, , shall be paid upon presentation and surrender at maturity unless redeemed pursuant to optional redemption prior to maturing. On or before the thirtieth day prior to each such payment date, the Paying Agent shall proceed to call the Series 1999 Bonds indicated above (or any Series 1999 Bond or Series 1999 Bonds issued to replace such Series 1999 Bonds) for redemption from such sinking fund on the next November 1, and give notice of such call without further instruction or notice from the City. At its option, to be exercised on or before the forty-fifth day next preceding each such redemption date, the City may (a)deliver to the Paying Agent for cancellation Series 1999 Bonds subject to such mandatory sinking fund redemption in an aggregate principal amount desired or (b) receive a credit in respect of its sinking fund redemption obligation for the respective Series 1999 Bonds subject to mandatory sinking fund redemption, which prior to said date have been redeemed (otherwise than through the operation of the sinking fund) and cancelled by the Paying Agent and not theretofore applied as a credit against the respective sinking fund redemption obligation. Each Series 1999 Bond so delivered or previously redeemed will be credited by the Paying Agent at the principal amount thereof on the obligation of the City on the respective sinking fund redemption date and the principal amount of Series 1999 Bonds to be redeemed by operation of such sinking fund on such date will be accordingly reduced. The City will on or before the forty-fifth day next preceding each redemption date furnish the Paying Agent with its certificate indicating whether or not and to what extent the 02-39207.04 9 provisions of(a) and (b) of the preceding sentence are to be availed with respect to such sinking fund payment. Failure of the City to deliver such certificate shall not affect the Paying Agent's duty to give notice of sinking fund redemption as provided in this paragraph. (c) Partial Redemption. in the case of a Series 1999 Bond of a denomination larger than $5,000, a portion of such Series 1999 Bond ($5,000 or integral multiples thereof) may be redeemed, in which case the Paying Agent shall, without charge to the Registered Owner of the Series 1999 Bond, authenticate and issue a replacement Series 1999 Bond or Series 1999 Bonds for the unredeemed portion thereof. (d) Notice. The City shall give written instructions of any optional redemption pursuant to subsection (a) of this Section to the Paying Agent at least 45 days prior to such redemption date (provided that the Paying Agent may Waive the right to receive such instructions more than 30 days prior to such redemption date). The Paying Agent shall give notice of mandatory redemption pursuant to subsection (b) of this Section without any instruction or direction from the City. Notice of any redemption shall be given by the Paying Agent in the name of the City by sending a copy of such notice by first-class mail, postage prepaid, not more than 45 days and not less than 30 days prior to the redemption date, to the Registered Owner of any Series 1999 Bond which is called for prior redemption at his or her address as it last appears on the registration records kept by the Paying Agent unless waived by such Registered Owner. Failure to give such notice by mail to the Registered Owner of any Series 1999 Bond, or any defect therein, shall not affect the, validity of the proceedings for the redemption of any other Series 1999 Bonds. Such notice shall identify the Series 1999 Bonds or portions thereof to be redeemed (if less than all are to be redeemed) and the date fixed for redemption, and shall further state that on such redemption date the principal amount thereof will become due and payable at the principal corporate trust office of the Paying Agent, and that from and after such date iracrest will cease to accrue. Accrued interest to the redemption date will be paid by check or draft mailed to the Registered Owner (or by alternative means if so agreed to by the Paying Agent and the Registered Owner). Notice having been given in the manner hereinabove provided, the Series 1999 Bond or Series 1999 Bonds so called for redemption shall become due and payable on the redemption date so designated; and upon presentation thereof at the principal corporate trust office of the Paying Agent, the City will pay the Series 1999 Bond or Series 1999 Bonds to be called for redemption. No further interest shall accrue on the principal of any Series 1999 Bond (or portion thereof) called for redemption from and after the redemption date, provided sufficient funds are on deposit with the Paying Agent on the redemption date. Section 7. Paying Agent; Transfer and Exchange. The Paying Agent is hereby appointed as bond registrar for the City for purposes of the Series 1999 Bonds and the Registered Coupons, and the City hereby approves the execution and delivery of a paying agency agreement to be in form and substance satisfactory to the City Attorney of the City. The Mayor or Mayor Pm Tern is hereby authorized and directed to execute and deliver the paying agency agreement, and the City Clerk or Deputy or Assistant City Clerk is herdby authorized and directed to attest 02-39207.04 10 the paying agency agreement and affix the seal of the City thereto. The Paying Agent shall maintain on behalf of the City, books for the purpose of registration and transfer of the Series 1999 Bonds and the Registered Coupons, and such books shall specify the person entitled to the Series 1999 Bonds and the Registered Coupons and the rights evidenced thereby, and all transfers of Series 1999 Bonds and the Registered Coupons and the rights evidenced thereby. Series 1999 Bonds may be transferred or exchanged without cost, except for any tax or governmental charge required to be paid with respect to such transfer or exchange and any cost of printing bonds in connection therewith, at the principal corporate trust office of the Paying Agent. Series 1999 Bonds may be exchanged for a like aggregate principal amount of Series 1999 Bonds of other authorized denominations of the same maturity and interest rate. Upon surrender for transfer of any Series 1999 Bond, duly endorsed for transfer or accompanied by an assignment duly executed by the Registered Owner or his or her attorneys duly authorized in writing, the City shall execute and the Paying Agent shall authenticate and deliver in the name of the transferee or transferees a new Series 1999 Bond or Series 1999 Bonds of the same maturity and interest rate for a like aggregate principal amount. The person in whose name any Series 1999 Bond shall be registered shall be deemed and regarded as the absolute owner thereof for all purposes, whether or not payment on any Series 1999 Bond shall be overdue, and neither the City nor the Paying Agent shall be affected by any notice to the contrary. The Registered Coupons may be transferred or exchanged at the principal office of the Paying Agent or at such other office of the Paying Agent for Registered Coupons of other authorized denominations of the same payment date and representing a like aggregate amount of "B" interest due on the "B" interest payment date upon payment by the transf,eree of a reasonable transfer fee established by the Paying Agent, together with any tax or governmental charge required to be paid with respect to such transfer or exchange and any cost of printing bonds in connection therewith. Upon surrender for transfer of any Registered Coupons duly endorsed for transfer or accompanied by an assignment duly executed by the Registered Owner or his or her attorney duly authorized in writing, the City shall execute and the Paying Agent shall authenticate and deliver in the name of the transferee a new Registered Coupon. Section 8. Execution and Delivery of the Series 1999 Bonds. The Series 1999 Bonds and the Registered Coupons shall be executed in the name and on behalf of the City with the manual or facsimile signature of the Mayor or Mayor Pro Tern, shall bear a manual or facsimile of the seal of the City and shall be attested by the manual or facsimile signature of the City Clerk or Deputy or Assistant City Clerk. Should any officer whose manual or facsimile signature appears on the Series 1999 Bonds or the Registered Coupons cease to be such officer before delivery of any Series 1999 Bond or Registered Coupon, such manual or facsimile signature shall nevertheless be valid and sufficient for all purposes. The Mayor and the City Clerk are hereby authorized and directed to prepare and to execute the Series 1999 Bonds and the Registered Coupons in accordance with the requirements of this Ordinance. When the Series 1999 Bonds and the Registered Coupons have been duly executed, the officers of the City are authorized to, and shall, deliver the Series 1999 Bonds and the Registered Coupons to the Paying Agent for authentication. No Series 1999 Bond or Registered Coupon shall be secured by this Ordinance or entitled to the benefit hereof, or shall be valid or obligatory for any purpose, unless the 02-39207.04 ] 1 certificate of authentication of the Paying Agent, in substantially the form set forth in this Ordinance, has been duly executed by the Paying Agent. Such certificate of the Paying Agent upon any Series 1999 Bond or Registered Coupon shall be conclusive evidence and the only competent evidence that such Series 1999 Bond or Registered Coupon has been authenticated and delivered hereunder. The Paying Agent's certificate of authentication shall be deemed to have been duly executed by it if manually signed by an authorized signatory of the Paying Agent, but it shall noLbe necessary that the same signatory sign the certificate of authentication on all of the Series 1999 Bonds or the Registered Coupons issued hereunder. Upon the anthentication of the Series 1999 Bonds and the Registered Coupons, the Paying Agent shall deliver the same to the Underwriter or its designees as directed by the City as hereinafter provided. Prior to the anthentication and delivery by the Paying Agent of the Series 1999 Bonds and the Registered Coupons there shall be flied with the Paying Agent the following: (a) a certified copy of this Ordinance; and (b) a request and authorization to the Paying Agent on behalf of the City and signed by the Mayor to authenticate and deliver the Series 1999 Bonds and the Registered Coupons to the Underwriter or the persons designated therein upon payment to the City of a sum specified in such request and authorization plus accrued interest thereon to the date of delivery. The proceeds of such payment shall be paid to the City and deposited as provided in Section 12 hereof. In the event any Series 1999 Bond is mutilated, lost, stolen or destroyed, the City shall execute' a new Series 1999 Bond of like maturity, interest rate and denomination to that mutilated, lost, stolen or destroyed, provided that, in the case of any mutilated Series 1999 Bond, such mutilated Series 1999 Bond shall first be surrendered to the City, and in the case of any lost, stolen or destroyed Series 1999 Bond, there shall be first furnished to the City evidence of such loss, theft or destruction satisfactory to the City, together with an indemnity satisfactory to the City. In the event any such Series 1999 Bond shall have matured, instead of issuing a duplicate Series 1999 Bond, the City may pay the same without surrender thereof, making such requirements as it deems fit for its protection, including a lost instrument bond. The City may charge the Registered Owner of such Series 1999 Bond with its reasonable fees and expenses in this connection. In the event any Registered Coupon is mutilated, lost, stolen or destroyed, the City shall execute a new Registered Coupon of the same authorized denominations of the same payment date and representing a like aggregate mount of "B" interest due on the "B" interest payment date to that mutilated, lost, stolen or destroyed, provided that, in the ease of any mutilated Registered Coupon, such mutilated Registered Coupon shall first be surrendered to the City, and in the case of any lost, stolen or destroyed Registered Coupon, there shall be first furnished to the City evidence of such loss, theft or destruction satisfactory to the City, together with an indemnity satisfactory to the City. In the event any such Registered Coupon shall have matured, instead of issuing a duplicate Registered Coupon, the City may pay the same without surrender 02-39207.04 12 thereof, making such requirements as it deems fit for its protection, including a lost instrument bond. The City may charge the Registered Owner of such Registered Coupon with its reasonable fees and expenses in this connection. Section 9. Special Obligations. The Series 1999 Bonds and the Registered Coupons are special, limited revenue obligations of the City and are payable solely out of the Pledged Revenues and other moneys pledged or available therefor under this Ordinance. Except as expressly provided in this Ordinance, the Pledged Revenues shall be and hereby are irrevocably assigned, pledged and set aside to pay the principal of, premium, if any, and interest on the Series 1999 Bonds, including the Registered Coupons, as more particularly set forth herein. The Series 1999 Bonds, including the Registered Coupons, constitute an irrevocable and first lien (but not an exclusive first lien) upon the Pledged Revenues on a parity with any parity debt subsequently issued. The Series 1999 Bonds, including the Registered Coupons, are equally and ratably secured by a lien on the Pledged Revenues and shall not be entitled to any priority one over the other in the application of the Pledged Revenues regardless of the time or times of the issuance of the Series 1999 Bonds and the Registered Coupons. The Series 1999 Bonds, including the Registered Coupons, shall not be payable from any general or other fund of the City, and the Series 1999 Bonds, including the Registered Coupons, shall not constitute general obligations of the City. The Series 1999 Bonds, including the Registered Coupons, shall not constitute an indebtedness or a debt within the meaning of the Charter or any applicable constitutional or statutory provision or limitation, nor shall they be considered or held to be general obligations of the City. The Series 1999 Bonds, including the RegiStered Coupons, shall not be payable in whole or in pan from ad valorem taxes of the City, and the full faith and credit of the City is not pledged for the payment of the Series 1999 Bonds, including the Registered Coupons. Section 10. Series 1999 Bond and Registered Coupon Forms. The Series 1999 Bonds shall be in substantially the form hereinafter set forth, with such variations, omissions and insertions as are permitted or required by this Ordinance: 02-39207.04 13 year, commencing May 1, 2000, the principal of and premium, if any, on this bond being payable upon the surrender of this bond at the principal operations office of Norwest Bank Colorado, National Association, presently located at Norwest Bank Minnesota, National Association in Minneapolis, Minnesota, as Paying Agent, or its successor (the "Paying Agent"), and the interest hereon to be paid to such person as is the Registered Owner hereof as of the close of business at the principal corporate trust office of the Paying Agent on the Regular Record Date by check or draf~ of the Paying Agent mailed to said Registered Owner. The Regular Record Date is the fifteenth day of the calendar month (whether or not a business day) preceding any interest payment date. Any such interest not so timely paid or duly provided for shall cease to be payable to the person who is the Registered Owner hereof at the close of business on the Regular Record Date and shall be payable to the person who is the Registered Owner hereof at the close of business on a Special Record Date for the payment of any defaulted interest. Such Special Record Date shall be fixed by the Registrar whenever moneys become available for payment of the defaulted interest, and notice of the Special Record Date shall be given to the registered owners of the Series 1999 Bonds not less than 10 days prior to the Special Record Date. All payments of principal of, premium, if any, and interest on this bond shall be made in lawful money of the United States of America. REFERENCE IS MADE TO THE FURTHER PROVISIONS OF THIS BOND SET FORTH ON THE REVERSE HEREOF WHICH SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS THOUGH FULLY SET FORTH HERFIN. This bond shall not be entitled to any benefit under the Ordinance, or become valid or obligatory for any purpose, until the Paying Agent shall have signed the certificate of authentication hereon. 02-39207.04 15 IN WITNESS WHEREOF, the City of Aspen, Colorado, has caused this bond to be signed with the manual or facsimile signature of its Mayor, sealed with the impression of its seal or a facsimile thereof, and attested with the manual or facsimile signature of its City Clerk. [SEAL] CITY OF ASPEN, COLORADO By Attest: Mayor By City Clerk (FORM OF PAYING AGENT'S CERTIFICATE OF AUTHENTICATION) Date of Authentication: This is one of the Series 1999 Bonds described in the Ordinance described herein. NORWEST BANK COLORADO, NAYIONAL ASSOCIATION, as Paying Agent By (Manual Signature) Authorized Officer (End of Form of Paying Agent's Certificate of Authentication) o2-392o7.o4 16 [BACK OF SERIES 1999 BOND] This bond is one of a duly authorized series of Series 1999 Bonds designated "City of Aspen, Colorado, Sales Tax Revenue Bonds, Series 1999" (the "Series 1999 Bonds"), limited in aggregate principal amount to $13,890,000, issued under and pursuant to the Constitution and laws of the State of Colorado, and the home rule charter of the City, and pursuant to an ordinance duly adopted by the City Council of the City prior to the issuance hereof (the "Ordinance"). The Series 1999 Bonds are issued for the purpose of c. onstructing and improving of City recreational and park facilities (the "Project"), funding a reserve fund and paying costs of issuing the Series 1999 Bonds. Simultaneously with the issuance of the Series 1999 Bonds, the City is also issuing separate, detailed registered coupons evidencing additional interest on the Series 1999 Bonds (the "Registered Coupons"). The interest rate stated above is the interest designated as "A" on the Series 1999 Bonds. Registered owners of the Series 1999 Bonds will receive only the principal of and interest designated in the Ordinance as "A" on the Series 1999 Bonds. Registered owners of the Registered Coupons will receive only interest designated in the Ordinance as "B" on the Series 1999 Bonds. The Ordinance provides that upon the terms and conditions set forth therein, the City may issue or incur obligations other than pursuant to the Ordinance which are payable or secured by the Pledged Revenues (as defined herein) on a parity with the Series 1999 Bonds. In addition, under certain circumstances' set forth in the Ordinance, the City may also issue subordinate bonds payable from Pledged Revenues having a lien thereon which is subordinate and junior to the lien on the Pledged Revenues securing the Series 1999 Bonds. "Pledged Revenues" means, for each fiscal year, all of the proceeds of the Open Space Sales Tax (as defined below) after deduction of the reasonable and necessary costs and expenses of collecting and enfoming said Open Space Sales Tax, if any. "Open Space Sales Tax" means the 1% sales tax established by the City, imposed on all sales of tangible personal property at retail and the furnishing of services, all as provided in the 1970 Sales Tax Ordinance of the City (as defined in the Ordinance). The Series 1999 Bonds are special, limited revenue obligations of the City payable solely out of and secured by an irrevocable assignment and pledge (but not an exclusive assignment and pledge) of the Pledged Revenues. The Pledged Revenues may als0 secure parity and subordinate bonds hereafter issued as noted above. This bond shall not constitute an indebtedness or a debt within the meaning of the Charter or any applicable constitutional or statutory provision or limitation, nor shall it be considered or held to be a general obligation of the City. This bond is not payable in whole or in part from ad valorera taxes of the City, and the full faith and credit of the City is not pledged to pay the principal of or interest on this bond. Payment of the principal of, premium, if any, and interest on this bond shall be made solely from, and as security for such payment there are irrevocably (but not necessarily exclusively) pledged, pursuant to the Ordinance, moneys deposited and to be deposited in a special fund of the City (the "Bond Fund") into which fund the City has covenanted under the Ordinance to pay from the Pledged Revenues, a sum sufficient to pay when due the principal of, 02-39207.04 17 premium, if any, and interest on the Series 1999 Bonds, including the Registered Coupons. The Series 1999 Bonds, including the Registered Coupons, are additionally secured by funds from time to time on deposit in a special fund created under the Ordinance (the "Reserve Fund"). As more fully set forth in the Ordinance, the mounts on deposit in the Reserve Fund are to be used to pay the principal of, premium, if any, and interest on the Series 1999 Bonds whenever amounts on deposit in the Bond Fund shall be insufficient for such purpose. Except as otherwise specified in the Ordinance, this bond is entitled to the benefits of the Ordinance equally and ratably as to principal, premium, if any, and interest with all other Series 1999 Bonds, including the Registered Coupons, issued and to be issued under the Ordinance, to which reference is made for a description of the rights of the registered owners of the Series 1999 Bonds, including the Registered Coupons, and the rights and obligations of the City. The Series 1999 Bonds are issuable solely in the form of fully registered bonds, without coupons, in the denomination of $5,000 or any integral multiple thereof. This bond may be transferred or exchanged at the principal corporate trust office of the Paying Agent in Denver, Colorado, but only in the manner, subject to the lir~itations and upon payment of the charges provided in the Ordinance (including any tax or goverrtmental charge required to be paid with respect thereto and any cost of printing bonds in connection therewith), and upon surrender and cancellation of this bond. Upon surrender for any transfer, duly endorsed for transfer or accompanied by an assignment duly executed by the Registered Owner hereof or his or her attorneys duly authorized in writing, a new registered Series 1999 Bond or Series 1999 Bonds of the same maturity and interest rate and of authorized denomination or denominations ($5,000 and integral multiples thereof) for the same aggregate principal amount will be issued to the transferee in exchange therefor. In addition, this bond may be exchanged for a like aggregate principal amount of Series 1999 Bonds of other authorized denominations of the same maturity and interest rate. The City and the Paying Agent may deem and treat the Registered Owner hereof as the absolute owner hereof (whether or not payment on this bond shall be overdue) for the purpose of receiving payment of or on account of principal hereof; premium, if any, and interest due hereon and for all other purposes, and neither the City nor the Paying Agent shall be affected by any notice to the contrary. Notwithstanding the foregoing, so long as the ownership of the Series 1999 Bonds is maintained in book-entry form by The Depository Trust Company (the "Securities Depository") or a nominee thereof, this bond may be transferred in whole but not in part only to the Securities Depository or a nominee thereof or to a successor Securities Depository or its nominee. The Series 1999 Bonds maturing on or before November 1, 2009 are not subject to redemption prior to maturity. The Series 1999 Bonds maturing on and after November 1, 2010 are subject to prior redemption at the option of the City, in whole, or in part, in integral multiples of $5,000 from such maturity or maturities selected by the City and by lot within a maturity as the Paying Agent shall determine (giving pwportionate weight to Series 1999 Bonds in denominations larger than $5,000), on November 1, 2009 or on any date thereafter, at a redemption price equal to the principal amount of each bond or portion thereof so redeemed, plus accrued interest to the redemption date. 02-392o7.04 18 The Series 1999 Bonds maturing on November 1, are subject to mandatory sinking fund redemption commencing on November 1, __ and each November 1 thereafter through November l, in the mounts and in such manner as provided in the Ordinance. The Series 1999 Bonds maturing on November 1, .. :.. are subject to mandatory sinking fund redemption commencing on November 1, __ and each November 1 thereafter through November 1, in the mounts and in such manner as provided in the Ordinance. In the case 0fa Series 1999 Bond of a denomination larger than the $5,000, a portion of such Series 1999 Bond ($5,000 or integral multiples thereof) may be redeemed, in which case the Registrar shall, without charge to the registered owner of such Series 1999 Bond, authemicate and issue a replacement Series 1999 Bond or Series 1999 Bonds for the unredeemed portion thereof. Redemption shall be made upon not more than 45 and not less than 30 days prior mailed notice to each registered owner as shown on the registration records kept by the Paying Agent in the manner and upon the conditions provided in the Ordinance. This bond and all other Series i999 Bonds of the series of which it forms a part are issued pursuant to and in full compliance with the Constitution and laws of the State of Colorado, and the home role charter of the City, and pursuant to the Ordinance which has been duly adopted by the City. THE SERIES 1999 BONDS SHALL BE SPECIAL, LIMITED REVENUE OBLIGATIONS OF THE CITY. THE PRINCIPAL OF, PREMIUM, IF ANY, AND INTEREST ON THE SERIES 1999 BONDS SHALL BE PAYABLE SOLELY OUT OF THE PLEDGED REVENUES AND AS OTHERWISE PROVIDED IN THE ORDINANCE. NEITHER THE CITY NOR THE PAYING AGENT WILL HAVE ANY RESPONSIBILITY OR OBLIGATION TO THE SECURITIES DEPOSITORY'S PARTICIPANTS OR INDIRECT PARTICIPANTS, OR THE PERSONS FOR WHOM THEY ACT AS NOMINEES, WITH RESPECT TO THE PAYMENTS TO OR THE PROVIDING OF NOTICE FOR THE SECURITIES DEPOSITORY'S PARTICIPANTS, THE INDIRECT PARTICIPANTS OR THE BENEFICIAL OWNERS OF THE SERIES 1999 BONDS. No recourse shall be had for the payment of the principal of, premium, if any, or interest on any of the Series 1999 Bonds or for any claim based thereon or upon any obligation, covenant or agreement set forth In the Ordinance, against any past, present or future councilmember, officer, employee or agent of the City, or through the City, or any successor thereof, under any rule of law or equity, statute or constitution or by the enforcement of any assessment or penalty or otherwise, and all such liability of any such councilmember, officer, employee or agent as such is hereby expressly waived and released as a condition of and in consideration for the adoption of the Ordinance and the execution, issuance and delivery of any of the Series 1999 Bonds. The Ordinance permits, with certa'm exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the City and the rights of the registered owners of the Series 1999 Bonds at any fmae by the City with the consent of the registered owners of 66-2/3% in aggregate principal mount of the Series 1999 Bonds at the time outstanding. Any such consent or waiver by the Registered Owner of this bond shall be 02-39207.04 19 conclusive and bindi,ng upon such owner and upon all future Registered Owners of this bond and of any Series 1999 Bond issued in replacement thereof whether or not notation of such consent or waiver is made upon this bond. It is hereby certified, recited and declared that all acts and conditions r~quired to be performed precedent to and in the adoption of the Ordinance, and the issuance of this bond, have been performed in due time, form and manner as required by law and that the issuance of this bond and the series of which it forms a part does not exceed or violate any constitutional, statutory or home rule charter limitation or requirement applicable hereto. [FORM OF ASSIGNMENT] ASSIGNMENT FOR VALUE RECEIVED the undersigned hereby sells, assigns and transfers unto (Tax Identification or Social Security NO.) this bond of the City of A~pen, Colorado and does hereby irrevocably constitute and appoint , Attorney, to transfer this bond on the books kept for the registration thereof, with full power of substitution in the premises. Dated: NOTICE: The signature to this assignment must correspond with the name as it appears upon the face of the within bond in every particular, without alteration or enlargement or any change whatever. [FORM OF LEGAL OPINION CERTIFICATE FOR THE SERIES 1999 BONDS] STATE OF COLORADO ) COUNTY OF PITKiN ) ss. LEGAL OPINION CERTIFICATE CITY OF ASPEN ) 1, the undersigned City Clerk of the City of Aspen, in the State of Colorado, do hereby certify that the following approving opinion of Kulak Rock, Denver, Colorado to wit: (Attorneys' approving opinion to be inserted in submargins, including complimentary closing and "/s/Kulak Rock") is a true, perfect and complete copy of a manually executed and dated copy thereof on file in the records of the City in my office; that a manually executed and dated copy~of the opinion was forwarded to Bigelow & Company, Denver, Colorado for retention in its records; and that the opinion was dated and issued as of the date of the delivery of and payment for the bonds of the series of which this bond is one. 02-39~07.04 20 IN WITNESS WHEREOF, I have caused to be hereunto affixed the facsimile of my official signature, all as of August 1, 1999. By (Manual or Facsimile Signature) City Clerk [END OF FORM OF SERIES 1999 BOND] The Registered Coupons shall be in substantially the form hereinafter set forth, with such variations, omissions and insertions as are permitted or required by this Ordinance: [FORM OF REGISTERED COUPON] UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC'), TO THE CITY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE &CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. EXCEPT AS OTHERWISE PROVIDED IN THE ORDINANCE, THIS GLOBAL CERTIFICATE MAY BE TRANSFERRED, IN WHOLE BUT NOT IN PART, ONLY TO ANOTHER NOMINEE OF THE SECURITIES DEPOSITORY (AS DEFINED HEREIN) OR TO A SUCCESSOR SECURITIES DEPOSITORY OR TO A NOMINEE OF A SUCCESSOR SECURITIES DEPOSITORY. UNITED STATES OF AMERICA STATE OF COLORADO No. RC-__ $[ · COUNTY OF PITKIN CITY OF ASPEN REGISTERED "B" INTEREST COUPON 02-39207.04 Amount Of "B" Interest "B" Interest Due On "B" Payment Date Interest Payment Date CUSIP November 1, 2000 $[ ] REGISTERED OWNER: Cede & Co. Tax Identification Number 13-2555119 The CITY OF ASPEN, in the County of Pitkin and State of Colorado (the "City"), for value received, hereby promises to pay to the registered owner named above, or registered assigns, on the payment date set forth above, the amount set forth above, which amount represents a proportional interest in the total amount of supplemantal interest designated "B" to be paid on the outstanding principal amount of the City's Sales Tax Revenue Bonds, Series 1999, dated August 1, 1999, issued in the aggregate principal amount of $13,890,000 (the "Series 1999 Bonds"). The Series 1999 Bonds and the "B" interest on the Series 1999 Bonds evidenced by this registered coupon have been authorized by an ordinance of the City passed and adopted by the City Council of the City prior to the issuance hereof (the "Ordinance"). The Ordinance may be amended or supplemented from time-to-time with or without the consent of the registered owners of the registered "B" interest coupons (the "Registered Coupons") as provided in the Ordinance. The Series 1999 Bonds mature, bear interest, and are subject to redemption, all as specifically set forth in the Ordinance, and the provisions of the Ordinance are hereby incorporated herein by reference. The "B" interest is calculated at the rate and in the manner set forth in the Ordinance. The amount of "B" interest payable hereunder is payable in lawful money Of the United States of America to the Registered Owner hereof upon presentation and surrender of this registered coupon at the principal operation office of Norwest Bank Colorado, National Association, as Paying Agent (the "Paying Agent"), presently located at Norwest Bank Minnesota, National Association in Minneapolis, Mirmesota, or at such other location as the Paying Agent may direct. If the date for making payment or performing any action regarding this registered coupon is on a day that is not a Business Day (as defined in Ordinance) such payment shall be made or act performed on the next succeeding day that is a Business Day with the same effect as if made on the day on which it was originally scheduled to be made. The Ordinance provides that upon the terms and conditions set forth therein, the City may issue or incur obligations other than pursuant to the Ordinance which are payable or secured by the Pledged Revenues (as defined herein) on a parity with the Series 1999 Bonds, including the Registered Coupons. In addition, under certain circumstances set forth in the Ordinance, the City may also issue subordinate bonds payable from Pledged Revenues having a lien thereon which is subordinate and junior to the lien on the Pledged Revenues securing the Series 1999 Bonds, including the Registered Coupons. "Pledged Revenues" means, for each fiscal year, all of the proceeds of the Open Space Sales Tax (as defined below) after deduction of the reasonable and necessary costs and expenses of collecting and enforcing said Open Space Sales Tax, if any. 02-39207.04 22 "Open Space Sales Tax" means the 1% sales tax established by the City, imposed on all sales of tangible personal property at retail and the furnishing of services, all as provided in the 1970 Sales Tax Ordinance of the City (as defined in the Ordinance). The Series 1999 Bonds, including the Registered Coupons, are special, limited revenue obligations of the City payable solely out of and secured by an irrevocable assignment and pledge (but not an exclusive assignment and pledge) of the Pledged Revenues. The Pledged Revenues may also secUre parity and subordinate bonds hereafter issued as noted above. This registered coupon shall not constitute an indebtedness or a debt within the meaning of the Charter or any applicable constitutional or statutory provision or limitation, nor shall it be considered or held to be a general obligation of the City. This registered coupon is not payable in whole or in part from ad valorera taxes of the City, and the full faith and credit of the City is not pledged to pay the principal of or iracrest on this registered coupon. Payment of the principal of, premium, if any, and interest on this registered coupon shall be made solely from, and as security for such payment there are irrevocably (but not necessarily exclusively) pledged, pursuant to the Ordinance, moneys deposited and to be deposited in a special fund of the City (the "Bond Fund") into which fund the City has covenanted under the Ordinance to pay from the Pledged Revenues, a sum sufficient to pay when due the principal of, premium, if any, and interest on the Series 1999 Bonds, including the Registered Coupons. The Series 1999 Bonds, including the Registered Coupons, are additionally secured by funds from time to time on deposit in a special fund created under the Ordinance (the "Reserve Fund"). As more fully set forth in the Ordinance, the mounts on deposit in the Reserve Fund are to be used to pay the principal of, premium, if any, and interest on the Series 1999 Bonds, including the Registered Coupons, whenever mounts on deposit in the Bond Fund shall be insufficient for such purpose. Except as otherwise specified in the Ordinance, this bond is entitled to the benefits of the Ordinance equally and ratably as to principal, premium, if any, and interest with all other Series 1999 Bonds, including the Registered Coupons, issued and to be issued under the Ordinance, to which reference is made for a description of the rights of the registered owners of the Series 1999 Bonds, including the Registered Coupons, and the rights and obligations of the City. This registered coupon may be transferred, exchanged, and reissued at the principal operations office of paying Agent, all in accordance with the Ordinance. This registered coupon and all other Registered Coupons are issued pursuant to and in full compliance with the Constitution and laws of the State of Colorado, and the home rule charter of the City, and pursuant to the Ordinance which has been duly adopted by the City, THE REGISTERED COUPONS SHALL BE SPECIAL, LIMITED REVENUE OBLIGATIONS OF THE CITY. THE PRINCIPAL OF, PREMIUM, IF ANY, AND INTEREST ON THE SERIES 1999 BONDS, INCLUDING THE REGISTERED COUPONS, SHALL BE PAYABLE SOLELY OUT OF THE PLEDGED REVENUES AND AS OTHERWISE PROVIDED IN THE ORDINANCE. 02-39207.04 23 NEITHER THE CITY NOR THE PAYING AGENT WILL HAVE ANY RESPONSIBILITY OR OBLIGATION TO THE SECURITIES DEPOSITORY'S PARTICIPANTS OR INDIRECT PARTICIPANTS, OR THE PERSONS FOR WHOM THEY ACT AS NOMINEES, WITH RESPECT TO THE PAYMENTS TO OR THE PROVIDING OF NOTICE FOR THE SECURITIES DEPOSITORY'S PARTICIPANTS, THE INDIRECT PARTICIPANTS OR THE BENEFICIAL OWNERS OF THE REGISTERED COUPONS. Notwithstanding.the foregoing, so long as the ownership of the Registered Coupons is maintained in book-entry form by The Depository Trust Company (the "Securities Depository") or a nominee thereof, this registered coupon may be transferred in whole but not in pan only to the Securities Depository or a nominee thereof or to a successor Securities Depository or its nominee. This registered coupon shall not be entitled to any benefit under the Ordinance, or become valid or obligatory for any purpose, until the Paying Agent shall have signed the certificate of ' :~thentication hereon. THE ORDINANCE CONSTITUTES THE CONTRACT BETWEEN THE REGISTERED OWNER OF THIS REGISTERED COUPON AND THE CITY. THIS REGISTERED COUPON IS ONLY EVIDENCE OF SUCH CONTRACT AND, AS SUCH, IS SUBJECT IN ALL RESPECTS TO THE TERMS OF THE ORDINANCE, WHICH SUPERSEDES ANY INCONSISTENT STATEMENT IN THIS REGISTERED COUPON. IN WITNESS WHEREOF, the City has caused this registered coupon to be executed with the signature of its Mayor and attested by the signature of its City Clerk, and has caused the seal of the City to be impressed or imprinted hereon, all as of the date specified above. [SEAL] CITY OF ASPEN, COLORADO By Mayor Attest: By City Clerk 02-3~07.~ 24 CERTIFICATE OF AUTHENTICATION This is one of the Registered Coupons described in the within-mentioned Ordinance. Dated: NORWEST BANK COLORADO, NATIONAL ASSOCIATION as Paying Agent By Authorized Signatory 02-39207.04 25 ASSIGNMENT FOR VALUE RECEIVED the undersigned hereby sells, assigns and transfers unto (Please print or typewrite name and address of Transferee) (Tax Identification or Social Security No. ) the within registered coupon and all fights thereunder, and hereby irrevocably constitutes and appoints attorney to transfer. the within registered coupon on the books kept for registration thereof, with full power of substitution in the premises. Dated: NOTICE: The signature to this assignment must correspond with the name as it appears upon the face of the within registered coupon in every particular, without alteration or enlargement or any change whatever. Signature Guaranteed: Signature(s) must be guaranteed by a national bank or trust company or by a brokerage firm having a membership in one of the major stock exchanges. TRANSFER FEE MAY BE REQUIRED [End of Form of Registered Coupon] Section 11. o2-39207.c~ 26 Section 12. Delivery of Series 1999 Bonds and the Registered Coupons. When the Series 1999 Bonds and the Registered Coupons shall have been duly executed, and payment therefor duly received, the City shall deliver them pursuant to Section 8 hereof. Section 13. Disposition of Series 1999 Bond and Registered Coupon Proceeds. UpOn the issuance, sale and delivery of the Series 1999 Bonds, accrued interest on the Series 1999 Bonds from August 1, 1999 to the date of delivery and payment of the Series 1999 Bonds shall be deposited into the Bond Fund. Of the remaining net proceeds of the sale of the Series 1999 Bonds and the Registered Coupons, an amount equal to $ shall be deposited the Reserve Fund, an amount equal to $ shall be used to finance the Project, and the remaining proceeds shall be applied to payment of costs of issuance of the Series 1999 Bonds and the Registered Coupons. Section 14. Creation of Funds. There is hereby created by the City the following funds and accounts: (a) the Bond Fund, designated as the "City of Aspen, Colorado, Sales Tax Revenue Bonds, Series 1999, Bond Fund"; (b) the Reserve Fund, designated as the "City of Aspen, Colorado, Sales Tax Revenue Bonds, Series 1999, Reserve Fund"; (c) the Revenue Fund, designated as the "City of Aspen, Colorado, Sales Tax Revenue Bonds, Series 1999, Revenue Fund"; (d) the Rebate Fund, designated as the "City of Aspen, Colorado, Sales Tax Revenue Bonds, Series 1999, Rebate Fund." Section 15. Underwriter Not Responsible. The Underwriter, any associate thereof, and any subsequent Registered Owner of any Series 1999 Bond or any Registered Coupon shall not be responsible for the application or disposal by the City, or by any agent or employee of the City, of the proceeds derived from the sale of the Series 1999 Bonds, the Registered Coupons or of any other moneys herein designated. Section 16. Application of Pledged Revenues. So long as any of the Series 1999 Bonds, including the Registered Coupons, shall remain outstanding, all Pledged Revenues, as they are received, shall be transferred from any other funds or accounts to which they are required to be deposited by the 1970 Sales Tax Ordinance or otherwise, and shall thereupon be deposited into the Revenue Fund, and the Pledged Revenues are hereby appropriated for such purpose. Moneys on deposit in the Revenue Fund shall be transferred from the Revenue Fund and applied to the following purposes and in the following order of priority: (a) FIRST, there shall be credited to the Bond. Fund an amount necessary, together with any moneys therein and available therefor, to pay the next due installment of principal of, premium, if any, and interest on the Series 1999 Bonds, including the Registered Coupons; 02-39207.04 27 (b) SECOND, there shall be credited to the Reserve Fund an amount, if any, necessary to increase the amount on deposit in the Reserve Fund to the Reserve Fund Requirement or to repay the pmvider of a surety bond for a drawing thereon. No payment need be made into the Reserve Fund so long as the moneys therein shall equal not less than the Reserve Fund Requirement. The Reserve Fund Requirement shall be accumulated and maintained in the Reserve Fund as a continuing reserve to be used, except as hereinafter provided, only to prevent deficiencies in the payment of the principal of, premium, if any, and interest on the Series 1999 Bonds, including the Registered Coupons, resulting from the failure to deposit into the Bond Fund sufficient funds to pay the same as they accrue. No payment need be made into either the Bond Fund or Reserve Fund if the amounts in the Bond Fund and Reserve Fund total a sum at least equal to the entire amount of the outstanding Series 1999 Bonds, including the Registered Coupons, as to any principal, premium, if any, and interest requirements, to their respective maturities, or to any redemption date on which the City shall have r ~ercised its option to redeem the Series 1999 Bonds then outstanding and thereafter maturing, and both accrued and not accrued, in which case moneys in the two funds in an amount at least equal to such principal, premium, if any, and interest requirements shall be used solely to pay such as the same accrue, and any moneys in excess thereof in the two funds may, subject to any limitations in the 1970 Sales Tax Ordinance, be used in any lawful manner by the City. If in any period the City shall for any reason fail to pay into the Bond Fund the full amount stipulated above, then an amount shall be immediately paid into the Bond Fund from the Reserve Fund equal to the difference between that paid from the Reserve Fund and the full amount so stipulated. The money so used shall be replaced in the Reserve Fund from the first Pledged Revenues thereafter received not required to be otherwise applied by this SectiOn, but excluding any payments required for any subordinate obligations. In the event other obligations are outstanding the lien to secure the payment of which on the Pledged Revenues is on a parity with the lien thereon of the Series 1999 Bonds, including the Registered Coupons, and the proceedings authorizing the issuance of those obligations require the replacement of moneys in a reserve fund therefor, then the moneys replaced in the Reserve Fund and in each such other fund shall be replaced On a pro rata basis as moneys become available therefor. If in any period the City shall for any reason fail to pay into the Reserve Fund the full amount above stipulated from the Pledged Revenues, the difference between the amount paid and the amount so stipulated shall in a like manner be therein from the first Pledged Revenues thereafter received not required to be applied otherwise by this Section, but excluding any payments required for any subordinate obligations. The moneys in the Bond Fund and in the Reserve Fund shall be used solely for the purpose of paying the principal of, premium, if any, and interest on the Series 1999 Bonds, including the Registered Coupons; provided, however, that any moneys at any time in excess of the Reserve Fund Requirement in the Reserve Fund may be with&awn therefrom and, subject to any limitation in the 1970 Sales Tax Ordinance, used in any lawful manner by the City. The City shall forward to the Paying Agent prior to each principal or interest payment on the Series 1999 Bonds, including the Registered Coupons, in immediately available funds, amounts sufficient to o2-~9~o7.o4 28 pay debt service on the Series 1999 Bonds, including the Registered Coupons, on each such date. The City may substitute the cash or Permitted Investments in the Reserve Fund for a surety bond issued by an entity rated at least "A" by Standard & Poor' s Ratings Services, so long as the amount on deposit in the Reserve Fund after such substitution is at least equal to the Reserve Fund Requirement. In the event the City shall substitute a surety bond for the cash or Permitted Investments in the Reserve Fund, the amount on deposit in the ReServe Fund shall be that amount available to be drawn or otherwise paid pursuant to such surety bond at the time of calculation. If the Reserve Fund shall include both cash or Permitted Investments and a surety bond, the cash and Permitted Investments shall be used before any demand is made on the surety bond. Notwithstanding the foregoing, prior to such substitution, the City must receive an opinion of nationally recognized municipal bond counsel to the effect that such substitution and the intended use by the City of the cash or Permitted Investments to be released from the Reserve Fund will not adversely affect the exclusion from gross income for federal income tax purposes of interest on the Series 1999 Bonds, including the Registered Coupons. Concurrently with (in the case of parity lien obligations) or subsequently to (in the case of subordinate lien obligations) the payments required by paragraphs (a) and (b) of this Section, any remaining amounts in the Revenue Fund shall be used by the City for the payment of principal of, premium, if any, .and interest on any additional obligations hereafter authorized to be issued and payable from the Pledged Revenues, including reasonable reserves therefor, as the same accrue. After making the payments required to be made by this Section, any remaining amounts in the Revenue Fund may, subject to any limitations in the 1970 Sales Tax Ordinance, be used in any lawful manner by the City. SectiOn 17. General Administration of Funds. The funds and accounts established pursuant to this Ordinance, with the exception of the Rebate Fund, shall be administered as follows, subject to the limitations stated in the first paragraph of Section 18 of this Ordinance: (a) Investment of Money. Any moneys in any such fund and account may be invested in Permitted Investments. The obligations in which moneys in each fund or account are invested shall be deemed at all times to be part of the respective fund or account, and any appreciation or loss resulting therefrom shall be recorded to such fund or account. Interest accruing on the investment of any moneys in the Reserve Fund shall be deposited as received into the Revenue Fund, and interest accruing on the investment of any moneys in any other such fund or account shall be credited to the fund or account from which it is derived. The City Finance Director shall present for redemption or sale in the prevailing market any obligations so purchased as an investment of moneys in the fund or account whenever it shall be necessary to do so in order to provide moneys to' meet any payment or transfer from said fund or account. Co) Deposits of Funds. The moneys and investments comprising each of such funds and accounts shall be deposited in one or more banks or savings and loans 02-39207.04 29 associations, each of which is a member of the Federal Deposit Insurance Corporation. Each payment shall be made into and credited to the proper fund or account on the date specified, but if such date shall be other than a Business Day, such paym~t shall be made on the next preceding Business Day. Nothing herein shall prevent the establishment of one or more such bank accounts, for all of such funds and accounts, or shall prevent the combination of such funds and accounts with any other bank account or accounts for other accounts of the City. Section 18. Rebate Fund; Deposits and Disbursements. The Rebate Fund shall be expertdeal in accordance with the provisions hereof and the Investment Instructions. The City shall make deposits and disbursements from the Rebate Fund in accordance with the Investment Instructions, shall invest the Rebate Fund pursuant to said Investment Instructions and shall deposit income from said investments immediately upon receipt thereof in the Rebate Fund, all as set forth in the Investment Instructions. The City shall make the calculations, deposits, disbursements and investments as may be required by the immediately preceding sentence, or, to the extent it deems necessary in order to ensure the tax-exempt status of interest on the ~eries 1999 Bonds, including the Registered Coupons, shall employ at its expense a person or finn with recognized expertise in the area of rebate calculation to make such calculations. The Investment Instructions may be superseded or amended by new Investment Instructions drafted by, and accompanied by an opinion of, nationally recognized bond counsel addressed to the City to the effect that the use of said new Investment Instructions will not cause the interest on the Series 1999 Bonds, including the Registered Coupons, to become includable in gross income for purposes of federal income taxation. The City shall make the rebate deposit described in the Investment Instructions. Any required deposits to the Rebate Fund shall be made first from the Pledged Revenues and then from any other lawfully available funds of the City. Records of the determinations required by this Section and the Investment Instructions shall be retained by the City until six years after the final retirement of the Series 1999 Bonds. Not later than 60 days after the end of the fifth, Bond Year (i.e., the year ending October 3 I, 2003 and every five years thereafter), the City shall pay to the United States of America 90% of the amount required to be on deposit in the Rebate Fund as of such payment date. Not later than 60 days after the final retirement of the Series 1999 Bonds, the City shall pay to the United States of America 100% of the balance remaining in the Rebate Fund. Each payment required to be paid to the United States of America pursuant to this Section shall be filed with the Internal Revenue Service Center, Philadelphia, Pennsylvania 19255. Each payment shall be accompanied by an Internal Revenue Form 8038-T, and, if necessary, a statement summarizing the determination of the amount to be paid to the United States of America. Section 19. Covenants Concerning Compliance With the Code. The City covenants that it shall not use or permit the use of any proceeds of the Series 1999 Bonds, the Registered Coupons, or any other funds of the City from whatever source derived, directly or indirectly, to acquire any securities or obligations and shall not take or permit to be taken any other action or 02-39207.04 30 actions, which would cause any of the Series 1999 Bonds or the Registered Coupons to be an "arbitrage bond" within the meaning of Section 148 of the Code, or would otherwise 'cause the interest on the Series 1999 Bonds, including the Registered Coupons, to be includable in gross income for federal income tax purposes. The City covenants that it shall at all times do and perform all acts and things permitted by law and which are necessary or desirable in order to assure that interest paid by the City on the Series 1999 Bonds; including the Registered Coupons, shall, for purposes of federal income taxation, not be ineludable in gross income under the Code or any other valid provision of law. In particular, but without limitation, the City further represents, warrants and covenants to comply with the following restrictions of the Code, unless it receives an opinion of nationally recognized bond counsel stating that such compliance is not necessary: (a) Gross proceeds of the Series 1999 Bonds, including the Registered Coupons, will not be used in a manner which will cause the Series 1999 Bonds or the Registered Coupons to be considered "private activity bonds" within the meaning of the Code. (b) The Series 1999 Bonds, including the Registered Coupons, are not and shall not become directly or indirectly "federally guaranteed." (c) The City shall timely file Internal Revenue Form 8038-G which shall contain the information required to be filed pursuant to Section 149(e) of the Code. (d) The City shall comply with the Investment Instructions delivered to it on the date of issue of the Series 1999 Bonds with respect to the application and investment of Series 1999 Bond proceeds, subject to Section 17 hereof. Section 20. First Lien on Pledged Revenues. The Series 1999 Bonds, including the Registered Coupons, are secured by a pledge of, and constitute an irrevocable and first lien (but not an exclusive first lien) on, the Pledged Revenues. Section 21. Equality of Series 1999 Bonds and the Registered Coupons. The Series 1999 Bonds, including the Registered Coupons, shall be equally and ratably secured by the Pledged Revenues and shall not be entitled to any priority one over the other in the application of the Pledged Revenues. Section 22. Additional Obligations. So long as the Series 1999 Bonds may be outstanding: (a) Limitations Upon Issuance of Parity Obligations. Nothing in this Ordinance shall be construed to prevent the issuance by the City of additional obligations (including refunding obligations) payable in whole or in part from the Pledged Revenues (or any designated part thereof) and constituting a lien thereon on a parity with, but not prior or superior to, the lien of the Series 1999 Bonds, including the Registered Coupons; provided, however, that before any such additional parity obligations are authorized or actually issued: 02-39207.04 31 (i) The City is then current in all payments required to have been accumulated in the Bond Fund and Reserve Fund, and there is not otherwise an Event of Default as defined in Section 26 hereof. (ii) The revenues derived from the entire Pledged Revenues for the twelve consecutive calendar months immediately preceding the month of issuance' of such additional parity obligations shall have been sufficient to pay an mount equal to 150% of the combined maximum annual principal and interest requirements (to and including the final maturity of the Series 1999 Bonds) on the then-outstanding Series 1999 Bonds, including the Registered Coupons, any then- outstanding parity lien obligations theretofore issued, and the parity lien obligations then proposed to be issued (including any reserve requirements therefor). (iii) The ordinance authorizing such additional parity lien obligations shall require that a reserve fund for such obligations be created in an mount equal to the least of (i) 10% oI the principal mount of the parity obligations proposed to be issued, (ii) maximum annual principal and interest requirements of the parity lien obligations proposed to be issued and (iii) 125% of the average annual debt service on the parity lien obligations proposed to be issued. The City may, however, comply with the reserve requirement through a surety bond or similar instrument. (b) Certificate of Revenues. A written certification by a certified public accountant who is not a regular salaried employee of the City that such Pledged Revenues are sufficient to pay the amounts required by paragraph (a)(ii) of this Section shall be conclusively presumed to be accurate in determining the fight of the City to authorize, issue, sell and deliver additional obligations on a parity with the Series 1999 Bonds, including the Registered Coupons. (c) Subordinate Obligations Permitted. Nothing in this Ordinance shall be construed to prevent the issuance by the City of additional obligations (including refunding obligations) payable from the Pledged Revenues (or any designated pan thereof) and having a lien thereon subordinate or junior to the lien of the Series 1999 Bonds, including the Registered Coupons. (d) Superior Obligations ProMbited. Nothing in this Ordinance shall be construed to permit the City to issue additional obligations (including refunding obligations) payable from the Pledged Revenues (or any designated part thereof) having a lien thereon prior and superior to the lien of the Series 1999 Bonds, including the Registered Coupons. Section 23. Refunding Obligations. The provisions oftSection 21 of this Ordinance are. subject to the following exceptions: 02-39207,04 32 (a) Privilege of Issuing Refunding Obligations. If at any time after the Series 1999 Bonds, or any part thereof, shall have been issued and remain outstanding, the City shall find it desirable to refund all or any part of the outstanding Series 1999 Bonds, including the Registered Coupons, or other outstanding obligations payable in whole or in part from the Pledged Revenues, such Series 1999 Bonds, Registered Coupons or other obligations, or any part thereof, may be refunded (but unly with the consent of the Registered Owner or Registered Owners thereof, unless such Series 1999 Bonds, Registered Coupons or other obligations, at the time of their required surrender for payment, shall then mature, or shall then be subject to redemption prior to maturity). (b) Limitations Upon Issuance of Parity Refunding Obligations. No refunding obligations payable from the Pledged Revenues (or any designated pan thereof) shall be issued on a parity with the Series 1999 Bonds, including the Registered Coupons, unless: (i) the lien on such Pledged Revenues of the outstanding obligations so refunded is on a parity with the lien thereon of the Series 1999 Bonds, including the Registered Coupons; or (ii) the refunding obligations are issued in compliance with Section 21 (a) of this Ordinance. (c) Partial Refunding of Series 1999 Bonds. Any refm~ding obligations so issued to refund any of the Series 1999 Bonds shall enjoy complete equality of lien with any Series 1999 Bonds, inaluding the Registered Coupons, which are not refunded. (d) Limitations Upon Refundings. Any refunding obligations payable from the Pledged Revenues may be issued with such details as the City may by ordinance provide, but without any impairment of any contractual obligations imposed upon the City by this Ordinance. Section 24. Protective Covenants. The City hereby additionally covenants and agrees with each and every Registered Owner of the Series 1999 Bonds and the Registered Coupons that: (a) Use of Series 1999 Bond and Registered Coupon Proceeds. The City will proceed to finance the Project without delay, as herein provided. (b) Payment of Serles 1999 Bonds and Registered Coupons Hereht Authorized. The City will promptly pay or cause to be paid the principal of, premium, if any, and interest on the Series 1999 Bonds, including the Registered Coupons, at the place, on the dates and in the manner provided in this Ordinance, in the Series 1999 Bonds and in the Registered Coupons, according to the true intent and meaning of this Ordinance. (c) No Repeal or Modification of 1970 Sales Tax Ordinance~ The City shall not repeal the 1970 Sales Tax Ordinance or adopt any modification of such ordinance which would impair the Pledged Revenues derived therefrom. 02-39207.04 33 (d) DuO' to Impose Open Space Sales Tax. If the 1970 Sales Tax Ordinance or any modifying or supplemental instrument thereto not contravening the limitations of paragraph (c) of this Section, or any part of that ordinance, shall ever be held to be invalid or unenforceable or shall otherwise be terminated, it shall be the duty of the City, to the extent possible under then existing law, to adopt immediately such ordinances, to seek such voter approval, if any, as may then be required by law, or to take any other action necessary to produce at least the same amount of Pledged Revenues as would have otherwise been produced under the terms of such ordinance. (e) Impairment of Contract. The City agrees that any law, ordinance or resolution of the City in any manner affecting the Pledged Revenues or the Series 1999 Bonds, including the Registered Coupons, shall not be repealed or otherwise directly or indirectly modified in such a manner as to impair any Series 1999 Bonds, including the Registered Coupons, outstanding, unless in the ease of this Ordinance the required consent of the Registered Owners of the then outstanding Series 1999 Bonds, incl?ading the Registered Coupons, is obtained pursuant to Section 31 of this Ordinance. (f) Records. So long as any of the Series 1999 Bonds, including the Registered Coupons, remain outstanding, proper books of record and account will be kept by the City, separate and apart from all other records and accounts, showing complete and correct entries of all transactions relating to the Pledged Revenues. The Registered Owners of any Series 1999 Bonds or Registered Coupons shall have the right at any reasonable time to inspect such records and accounts. (g) Audits. The City further agrees that it will, within 120 days following the close of each fiscal year, cause an audit of such books and accounts to be made by an independent certified public accountant, showing the revenues and expenditures of the Pledged Revenues. The City agrees to furnish forthwith a copy of each such audit to the Registered Owner of any of the Series 1999 Bonds or the Registered Coupons at his request, and Without request to the Underwriter. Any such Registered Owner shall have the right to discuss with the accountant or person making the audit its contents and to ask for such additional information as he may reasonably require. (h) Extending lnterest Payments. In order to prevent any accumulation of claims for interest after maturity, the City will not directly or indirectly extend or assent to the extension of time for the payment of any claim for interest on any of the Series 1999 Bonds or the Registered Coupons and it will not directly or indirectly be a party to or approve any such arrangement; and in case the time for payment of any interest shall be extended, such insthllment or installments of interest after such extension or arrangement shall not be entitled in case of default hereunder to the benefit or security of this Ordinance except subject to the prior payment in full of the principal of all Series 1999 Bonds issued hereunder and then outstanding, and of matured interest on such Series 1999 Bonds, including the Registered Coupons, the payment of which has not been extended. 02-39:07.04 34 (i) Perforndng Duties. The City will faithfully and punctually perform all duties with respect to the Pledged Revenues required by the Charter and the Constitution and laws of the State of Colorado, and the ordinances and resolutions of the City, including but not limited to, the proper segregation of the Pledged Revenues and their application to the respective funds. (j) Other Liens. There are presently no other liens or encumbrances of any nature whatsoever on or against the Pledged Revenues. (k) City's Existence. The City will maintain its corporate identity and existence so long as any of the Series !999 Bonds, including the Registered Coupons, remain outstanding, unless another body corporate and politic by operation of law succeeds to the duties, privileges, powers, liabilities, disabilities, immunities and rights of the City and is obligated by law to receive and distribute the Pledged Revenues in place of the City, . without affecting to any substantial degree the privileges and rights of any Registered Owner of any outstanding Series 1999 Bonds or Registered Coupons. Section 25. Defeasanee, When all Series 1999 Bonds and interest thereon, including the Registered Coupons, have been duly paid, the pledge and lien and all obligations hereunder shall thereby be discharged as to such Series 1999 Bonds and Registered Coupons, and such Series 1999 BOnds and Registered Coupons shall no longer be deemed to be outstanding within the meaning of this Ordinance. There shall be deemed to be such due payment when the City has placed in escrow and in trust with a commercial bank located within or without the State of Colorado and exercising trust powers, an mount sufficient (including the known minimum yield from Federal Securities in which such mount may be initially invested) to make all payments of principal of, premium, if any, and interest on such Series 1999 Bonds, including the Registered Coupons, as the same become due at their final maturities or upon redemption prior to maturity. The Federal Securities shall become due prior to the respective times on which the proceeds thereof shall be needed, in accordance with a schedule established and agreed upon between the City and the bank at the time of the creation of the escrow, or the Federal Securities shall be subject to the redemption at the option of the holders thereof to assure such availability as so needed to meet such schedule. "Federal Securities" within the meaning of this Section shall include only direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by, the United States of America and which are not callable before maturity by the issuer of such obligations. Section 26. Delegated Powers. The officers of the City hereby are authorized and directed to take all action necessary or appropriate to effectuate the provisions of this Ordinance, including without limitation the printing of the Series 1999 Bonds and the Registered Coupons and the execution of such certificates as may be required by the Underwriter. Section 27. Events of Default. If any of the following events occurs, it is hereby declared to constitute an Event Of Default: 02-39207.04 35 (a) default in the due and punctual payment of the principal of, premium, if any, or interest on any Series 1999 Bond, including the Registered Coupons, or any parity debt whether at maturity thereof, or upon proceedings for redemption thereof; or (b) the City is for any reason rendered incapable of fulfilling its obligations hereunder; or (c) default in the due and punctual performance of the City's covenants or conditions, agreements and provisions as set forth in the Series 1999 Bonds, in the Registered Coupons or in this Ordinance, other than those delineated in paragraphs (a) and (b) of this Section, and such default has continued for 60 days after written notice specifying the default and requiring the same to be remedied has been given to the City by the Registered Owners of 25% in principal amount of the Series 1999 Bonds then outstanding; or (d) the City shail file a petition for b~wtra-uptcy or shall be declared insolvent by a court of competent jurisdiction. Section 28. Remedies for Events of Default Upon the happening and continuance of any of the Events of Default as provided in Section 26 of this Ordinance, then and in every case, the Registered Owner or Registered Owners of not less than 25% in principal amount of the Series 1999 Bonds then outstanding, including but not limited to, a trustee or trustees therefor, may proceed against the City and its agents, officers and employees, to protect and enforce the rights of any Registered Owner of Series 1999 Bonds or the Registered Coupons under this Ordinance by mandamus or other suit, action or special proceedings in equity or at law, in any court of competent jurisdiction, either for the specific performance of any covenant or agreement contained herein or in an award of execution of any power herein granted for the enforcement of any proper legal or equitable remedy as such Registered Owner or Registered Owners may deem most effectual to protect and enforce the rights aforesaid, or thereby to enjoin any act or thing which may be unlawful or in violation of any right of any Registered Owner, or to require. the governing body to act as if it were the trustee of an express trust, or any combination of such remedies. All such proceedings at law or in equity shall be instituted, had and maintained for the equal benefit of nil Registered Owners of the Series 1999 Bonds and the Registered Coupons then outstanding. The failure of any such Registered Owner so to proceed shall not relieve the City or any of its officers, agents or employees of any liability for failure to perform any duty. Each right or privilege of any such Registered Owner (or trustee thereof) is in addition and cumulative to any other right or privilege, and the exercise of any right or privilege by or on behalf of any Registered Owner shall not be deemed a waiver of any other right or privilege thereof. Section 29. Duties Upon Default Upon the happening of any of the Events of Default as provided in Section 26 of this Ordinance, the City will do and perform all proper acts on behalf of and for the Registered Owners of the Series 1999 Bonds to protect and preserve the security created for the payment of their Series 1999 Bonds or Registered Coupons and to insure the payment of the principal of, premium, if any, and interest on the Series 1999 Bonds, 02-39207.1M 36 including the Registered Coupons, promptly as the same become due. All proceeds derived from the Pledged Revenues, during such period of default and so long as any of the Series 1999 Bonds, as to any principal, premium, if any, and interest, including the Registered Coupons, are outstanding and unpaid, shall be paid into the Bond Fund, and ratably and equally into similar funds for parity obligations, if any, heretofore or hereafter issued pursuant to the terms hereof, and used for the purposes therein provided. In the event the City fails or refuses to proceed as provided in this Section, the Registered Owner or Registered Owners of not less than 25% in principal amount of the Series 1999 Bonds then outstanding, after demand in writing, may proceed to protect and enforce the rights of the Registered Owners as herein provided. Section 30. Severability Clause. If any section, paragraph, clause or provision of this Ordinance shall for any reason be held to be invalid or unenforceable, the invalidity or unenforeeability of such section, paragraph, clause or provision shall not affect any of ihe remaining provisions of this Ordinance. Section 31. Repealer Clause. All bylaws, orders, resolutions and ordinances, or parts thereof, inconsistent herewith are hereby repealed to the extent only of such inconsistency. This repeater shall not be construed to revive any bylaw, order, resolution or ordinance, or part thereof, heretofore repealed. Section 32. Amendment. This Ordinance may be amended or supplemented by ordinance adopted by the Council in accordance with law, without receipt by the City of additional considerations and without the consent of the Registered Owners, to make any amendment or supplement to this Ordinance which, in the opinion of nationally recognized bond counsel, is not to the material prejudice of the Registered Owners. This Ordinance may be amended or supplemented by ordinance adopted by the Council in accordance with law, without receipt by the City of any additional consideration, but with the written consent of the Registered Owners of 66-2/3% of the Series 1999 Bonds outstanding at the time of the adoption of the amendatory ordinance, excluding any Series 1999 Bonds held for the account of the City; provided, however, that no such ordinance, without the consent of the Registered Owners of all outstanding Series 1999 Bonds and Registered Coupons which will be adversely affected, shall have the effect of permitting: (a) an extension of the maturity of any Series 1999 Bond or Registered Coupon authorized by this Ordinance; or (b) a reduction in the principal amount of any Series 1999 Bond, the rate of interest thereon, or the premium payable thereon; or (c) the creation of a lien upon or pledge of Pledged Revenues ranking prior to the lien or pledge of Pledged Revenues created by this Ordinance; or (d) a reduction of the principal amount of Series 1999 Bonds required for consent to such amendatory or supplemental ordinance; or 02-39207.04 37 (e) the establishment of priorities as between Series 1999 Bonds or Registered Coupons issued. and outstanding under the provisions of this Ordinance; or (t) the modification of or otherwise affecting the rights of the Registered Owners of less than all of the Series 1999 Bonds or Registered Coupons then outstanding. Section :$3. Recordation. A true copy of this Ordinance, as adopted by the govern'rag body of the City, shall be numbered and recorded, and its adoption and publication shall be authenticated by the signatures of the Mayor and the City Clerk and by a certification of publication. Section 34. Further Action. The officers of the City are authorized and directed to take all action necessary or appropriate to effectuate the provisions of this Ordinance, including, without limiting the generality of the foregoing, the printing of the Series 1999 Bonds and the Registered Coupons, the execution and delivery of an escrow agreement providing for the d, feasance of the City's Sales Tax Refimding Revenue Bonds, Series 1995 and the execution of ~uch certificates as may be required by the Underwriter relating to, but not limited to, the signing of the Series 1999 Bonds and the Registered Coupons, the use of the proceeds thereof, the tenure and identity of the municipal officials, the receipt of the Series 1999 Bonds' and the Registered Coupons' purchase prices, and the absence of litigation, pending or threatened, if in accordance with the facts, affecting the validity thereof. Section35. Captions. The captions or headings in this Ordinance are for convenience only and in no way define, limit or describe the scope or intent of any provisions or sections of this Ordinance. Section 36. Applicable Provisions of Law. This Ordinance shall be governed by and construed in accordance with the laws of the State of Colorado. Section 37. Public Hearing. A public hearing on this Ordinance shall be held on the 261h day of July 1999 at 5:00 p.m. in the Council Chambers, Aspen City Hall, 130 South Galena Street, Aspen, Colorado. Section 38. Emergency and Effective Date. Due to fluctuations in municipal bond prices and interest rates and due to currently favorable interest rates and due to the need to preserve public property, health, peace and safety, it is hereby declared that, in the opinion of the Council, an emergency exists, and therefore this Ordinance shall be in full force and effect upon its passage. Section 39. Book-Entry System; Limited Obligation of Authority. (a) Notwithstanding any other provision hereof, the Series 1999 Bonds and the Registered Coupons shall be initially issued in the form of a separate single certificated fully registered bond for each of the maturities set forth in Section 5 hereof. Upon initial issuance, the ownership of each Series 1999 Bond and the Registered Coupons shall be registered in the registration records kept by the Paying 'Agent in the name of Cede, as 02-39207.04 38 nominee'of DTC. Except as provided in this Section, all of the outstanding Series 1999 Bonds and Registered Coupons shall be registered in the registration records kept by the Paying Agent in the name of Cede, as nominee of DTC. (b) With respect to Series 1999 Bonds and Registered Coupons registered in the registration records kept by the Paying Agent in the name of Cede, as nominee of DTC, the City and the Paying Agent shall have no responsibility or obligation to any Participant or to any person on behalf of which a Participant holds an interest in the Series 1999 Bonds and Registered Coupons. Without limiting the immediately preceding sentence, the City and the Paying Agent shall have no responsibility or obligation with respect to (i) the accuracy of the records of DTC, Cede or any Participant with respect to any ownership interest in the Series 1999 Bonds and Registered Coupons, (ii) the delivery to any Participant or any other person, other than a Registered Owner, as shown in the registration records kept by the Paying Agent, or any notice with respect to the Series 1999 Bonds or the Registered Coupons, including any notice of redemption or (iii) the . payment to any Participant or any other person, other than a Registered Owner, as shown in the registration records kept by the Paying Agent, of any amount with respect to principal of, premium, if any, or interest on the Series 1999 Bonds, including the Registered Coupons. The City and the Paying Agent may treat and consider the person in whose name each Series 1999 Bond or Registered Coupon is registered in the registration records kept by the Paying Agent as the absolute owner of such Series 1999 Bond or the Registered Coupon for the purpose of payment of principal, premium and interest with respect to such Series 1999 Bond or such Registered Coupon, for the purpose of giving' notices of redemption and other matters with respect to such Series 1999 Bond or Registered Coupon, for the purpose of registering transfers with respect to such Series 1999 Bond or Registered Coupon, and for allother purposes whatsoever. The Paying Agent shall pay all principal of, premium, if any, the interest on the Series 1999 Bonds and the Registered Coupons only to or upon the order of the respective Registered Owners, as shown in the registration records kept by the Paying Agent, or their respective attorneys duly authorized in writing, as provided in Section 5 hereof, and all such payments shall be valid and effective to fully satisfy and discharge the obligations with. respect to payment of principal of, premium, if any, and interest on the Series 1999 Bonds and the Registered Coupons to the extent of the sum or sums so paid. No person other than a Registered Owner, as shown in the registration records kept by the Paying Agent, shall receive a certificated Series 1999 Bond or a cenificated Registered Coupon evidencing the obligation to make payments of principal, premium, if any, and interest pursuant to this Ordinance. Upon delivery by DTC to the Paying Agent of written notice to the effect that DTC has determined to substitute a new nominee in place of Cede, and subject to the provisions herein with respect to Record Dates, the word "Cede" in this Ordinance shall refer to such new nominee of DTC. (c) The Representation Letter, with such changes, omissions, insertions and revisions as the City shall approve; is hereby authorized and the Mayor or the Mayor Pro Tern shall execute and deliver such Representation Letter. The approval by the City of any such changes, omissions, insertions and revisions shall be conclusively established 02-39207.04 39 by the Mayor's or Mayor Pro Tem's execution and delivery of the Representation Letter which shall not in any way limit the provisions of this Section or in any other way impose upon the City any obligation whatsoever with respect to persons having interests in the Series 1999 Bonds' or the Registered Coupons other than the Registered Owners, as shown on the registration records kept by the Paying Agent. The Paying Agent shall take all action necessary for all representations of the City in the Representation Letter with respect to the paying agents and the bond registrar, respectively, to at all times to be complied with. (d) DTC may determine to discontinue providing its services with respect to the Series 1999 Bonds at any time by giving notice to the City and the Paying Agent and discharging its responsibilities with respect thereto under applicable law. (i) The City, in its sole discretion and without the consent of any other person, may terminate the services of DTC with respect to the Series 1999 Bonds or the Registered Coupons if the City determines mat: (A)DTC is unable to discharge its responsibilities with respect to the Series 1999 Bonds or the Registered Coupons; or (B) a continuation of the requirement that all of the outstanding Series 1999 Bonds and the Registered Coupons be registered in the registration records kept by the Paying Agent in the name of Cede or any other nominee of DTC, is not in the best interest of the beneficial owners of the Series 1999 Bonds and the Registered Coupons, (ii) Upon the termination of the services of DTC with respect to the Series 1999 Bonds and the Registered Coupons pursuant to Subsection 38(d)(ii)(B) hereof, or upon the discontinuance or termination of the services of DTC with respect to the Series 1999 Bonds and the Registered Coupons pursuant to subsection 38(d)(i) hereof after which no substitute securities depository willing to undertake the functions of DTC hereunder can be found which, in the opinion of the Paying Agent, is willing and able to undertake such functions upon reasonable and customary terms, the Paying Agent is obligated to deliver Series 1999 Bond and Registered Coupon certificates at the expense of the beneficial owners of the Series 1999 Bonds and the Registered Coupons, as described in this Ordinance, and the Series 1999 Bonds and the Registered Coupons shall no longer be restricted to being registered in the registration records kept by the Paying Agent in the name of Cede as nominee of DTC, but may be registered in whatever name or names Registered Owners transferring or exchanging Series 1999 Bonds or Registered Coupons shall designate, in accordance with the provisions of this Ordinance. (e) Notwithstanding any other provision of this Ordinance to the contrary, so long as any Series 1999 Bond or Registered Coupons is registered in the name of Cede, as 02-39207.04 40 nominee of DTC, all payments with respect to principal of, premium, if any, and interest on such Series 1999 Bond, including the Registered Coupons, and all notices with respect to such Series 1999 Bond and Registered Coupons shall be. made and given, respectively, in the manner provided in the Representation Letter. 02-39207.04 41 INTRODUCED, READ AS AN EMERGENCY MEASURE AND ORDERED PUBLISHED at its regular meeting on July 12, 1999, as provided by law by the Council, [SEAL] By Mayor Attest: By City Clerk FINAl LY ADOPTED AND APPROVED AS AN EMERGENCY MEASURE AND · ORDERED PUBLISHED at its regular meeting on July 26, 1999 by the Council. [SEAL] By Mayor Attest: By City Clerk 02-39207.04 42 MEMORANDUM THRU: anager John Worcester, City Attorney ~ Julie A~ Woods, Communi~ Development Director Joyce Ohlson, Depu~ Directo ~ ~ · FROM: Christopher Bendon, Planer ~ ~: Burlingame hnch Rezoning - _ ublic Heating - Second Reading of Ordinance No. 25, Series of 1999 hly 12, 1999 SUMMARY: Burlingame Ranch is a City owned parcel of land recently annexed into the City limits. This 186.8 acre parcel of land lies on both sides of State Highway 82 at the intersection with Owl Creek Road. State Statute requires the City to assign the property to the appropriate zone district(s) within 90 days of the final annexation. The annexation finalized on May 10, 1999, and the land must be provided zoning by August 10, 1999. A 37 acre parcel of land originally parl of the Burlingame Ranch was not annexed into the City and remains in Pitkin County. This county parcel is expected to be sold as a single- family development site after a building envelope is designated and approved by Pitkin County. The 37 acre parcel is no longer part of Burlingame Ranch, is not within the City's jurisdiction, and is not part of this zoning recommendation. The Burlingarne Seasonal Housing project was apprnved since the first reading of this Ordinance. The land use approval for the Seasonal project divided Burlingame Ranch into two parcels and included Lot #2 in the RMF-A Zone District. That zoning action for Lot #2 meet the statute obligation to zone the property within 90 days, eliminating the necessity to provide zoning for that land with this Ordinance. In other words, staffs recommendation only pertains to the remaining Lot #1 of the Burlingame Ranch Subdivision. The zoning recommendation made by the Planning and Zoning Commission specifically recognized the pending land use application for the Seasonal Housing project and does not have to be reconsidered. CONCERNS FROM FIRST READING: During first reading of this Ordinance, there were some concerns raised by the Council regarding the zoning boundaries forthe "bowl" area. This area, located east of Deer Hill, is proposed for Rural Residential (RR) Zone District, a two-acre residential zone. The proposed boundary between the less intense Conservation Zone District was presented as an "arc" during the First Reading while the boundary that previously existed in the county followed a topographic line across the bowl with no attention to the grade modifications. Staff has redrawn two zoning boundaries for Council's consideration. In both cases, the "pan-handle" was removed - a request made clear by Council. The "arc" generally reflecting a perceptible change in the landform for the boundary - the threshold between the flatter portions of the bowl and the toe of Deer Hill, The second redrawn boundary line follows a topographic line across the bowl, more similar to the boundary provided in the From a zoning perspective, there is very little difference between these two boundary lines. Both are based on physical characteristics of the land and can be mapped easily. The boundary itself does not predict or preclude the location of development. In fact, development may even overlay the two zones. There is an approximate 4 acre difference (the arc boundary includes more land within the RR Zone) with little effect on the allowable density for the entire parcel. The concerns raised about this zoning boundary center around the bowl and differentiating this flatter landform from the steeper Deer Hill. Using the topographic line would create a boundary, while based on a physical characteristic of the land, not commonly recognizable to by-passers. Using the "arc" as a boundary line more accurately, in staffs opinion, defines the threshold of the flat bowl and the steep Deer Hill. Staff recommends Council use this "arc" to define the limits of the zoning boundary in the bowl area of this parcel. The other area on this parcel proposed for the Rural Residential (RR) Zone District is the land adjacent to the southern portion of the Aspen Airport Business Center. This area was referred to as areas "C" and "D" during initial discussion about the Ranch. Similar to the bowl area, this area can support the development of affordable housing. However, no plans have been submitted and this memorandum does not contain any findings or opinions about development on this portion of Burlingame Ranch. The remaining portions of Lot #1, Burlingame Ranch Subdivision, are proposed for the Conservation (C) Zone District. These areas are "Deer Hill" and the entire portion of the parcel lying west of State Highway 82. These areas are inappropriate for significant development due to steep slopes and effects of the airport. Lastly, the annexation included approx!mately 9 acres of land within the State Highway 82 right-of-way. There are no development rights associated with rights-of-way and no significant reasons to apply zoning to these lands. Both the City of Aspen and Pitkin County have traditionally applied zoning to these lands for less significant reasons: 1) the maps look better; 2) most jurisdictions apply zoning to rights-of-way; and, 3) an appropriate zone district is effective if the area is ever vacated. Staff has included language in the proposed Ordinance assigning land within the annexed rights-of-way to the zone district of the adjacent parcel. Staff recommends City Council adopt Ordinance Number 15, Series of 1999, upon ' second reading. Community Development Department, City of Aspen. LOCATION: Comer of State Highway 82 and Owl Creek Road. Burlingame Ranch Subdivision, Lot #I. ZONING: Former Pitkin County Zoning: Approximately 107 acres was zoned AFR- I O, and approximately 71 acres was zoned AFR-2 Proposed.' Approximately 145 acres in Conservation (C). Approximately 28 acres in Rural Residential (RR). Approximately 9 acres lie within road rights-of-way and are proposed to be zoned consistent with the adjacent land. A more specific zoning analysis is provided as Exhibit B. LOT SIZE: 182 acres. A 37 acre parcel previously part of the Burlingame Ranch was not annexed and remains in Pitkin County. A 4 acre parcel, Lot #2 of the Burlingame Ranch Subdivision, has been included in the RMF-A Zone District. Approximately 9 acres is within the State Highway 82 corridor. CURRENT LAND USE: Undeveloped lands. PROPOSED LAND USE: No proposed changes to the land use are being currently proposed. There have been discussions for significant affordable housing projects on both the "bowl" area on the far east of the parcel and the area south and east of the BMC West parcel. Both of these projects are merely conceptual and no formal applications have been submitted. PREVIOUS ACTION: The Aspen Planning and Zoning Commission recommended approval of this zoning by a 6-1 vote. City Council considered this Ordinance and recommended slight changes to the zoning boundaries during first reading. REVIEW PROCEDURE: Rezoning. The City Council shall consider the application at a public hearing and approve, approve with conditions, or deny the application. BACKGROUND: The subject property was annexed into the City of Aspen on May l 0, 1999. The City has a statutory obligation to provide this property with zoning within 90 days of the final annexation. Burlingame Ranch was recently subdi~'ided into two parcels. Lot #1 is approximately 181 acres in size and the subject of this rezoning Ordinance. Lot #2 is approximately 4 acres and was rezoned to the Residential Multi-Family (RMF-A) Zone District pursuant to Ordinance 23, Series of 1999, along with the land use approvals for a 101 unit affordable housing project. Because Lot #2 has already been provided zoning, this ordinance only addresses Lot #I. 3 STAFF COMMENTS: Review criteria and Staff Findings have been included as Exhibit A. An analysis of the previous and proposed zoning is provided as Exhibit B. Previous and proposed zoning maps are provided as Exhibit C. CITY blANAGER COMMENTS: RECOMMENDATION: Staff recommends City Council adopt this Ordinance, upon second reading, using the proposed "arc" to describe the zoning boundary in the bowl area of the property. RECOMMENDED MOTION: "I move to adopt Ordinance Number 25, Series of 1999." ATTACHMENTS: Exhibit A -- Review Criteria and Staff Comments Exhibit B -- Zoning Analysis 4 ORDINANCE N0. 25 (SERIES OF 1999) AN ORDINANCE OF TIlE CITY COUNCIL, OF TIlE CITY OF ASPEN, COLORADO, ASSIGNING LOT #1, BURLINGAME RANCH SUBDIVISION, TO THE CONSERVATION (C) AND RURAL RESIDENTIAL (RR) ZONE DISTRICTS. PARCEL NO. 2735-031-00-805 WttEREAS, a parcel of land located on either side of State Highway 82 at the Owl Creek Road intersection, commonly referred to as "Burlingame Ranch" was annexed into the City of Aspen on May 10, 1999, pursuant to Ordinance No. 16, Series of 1999; and, WHEREAS, the City Council of the City of Aspen must designate a zone district for the property within 90 days of the annexation; and, WHEREAS, pursuant to Ordinance Number 23, Series of 1999, the land was subdivided into two lots, the Burlingame Ranch Subdivision, and Lot # 2 of said Subdivision was included in the Residential Multi-Family (RMF-A) Zone District; and, WHEREAS, Lot #1 of the Burlingame Ranch Subdivision is legally described in Exhibit A, WHEREAS, the City Council may approve Amendments to the Official Zone District Map (Rezoning) after taking and considering recommendations from the Community Development Director, the Planning and Zoning Commission made at a duly noticed public hearing, and taking and considering public testimony at a duly noticed public hearing in conformante with the review criteria set forth in Section 26.92; and, WHEREAS, the Community Development Department analyzed Lot #1 of the Burlingame Ranch Subdivision and recommended the property be included in the Conservation (C) and Rural Residential (RR) Zone Districts; and, WHEREAS, during a duly noticed public hearing on June I, 1999, the Planning and Zoning Commission took and considered public testimony and recommended, by a six to one vote (6-1), City Council include this property in the Conservation (C) and Rural Residential (RR) Zone Districts; and, WHEREAS, the boundaries for said zone district designations are described herein; and, WHEREAS, City. Council reviewed and considered the recommendations of the Community Development Director and the Planning and Zoning Commission during a duly noticed public hearing; and, WI-IEREAS~ the City Council finds that the Conservation (C) and Rural Residential (RR) Zone Districts, as applied to Lot #1 of the Bu~ingame Ranch Subdivision with the boundaries described heroin, are the most appropriate zoning classifications for this property, meeting or exceeding all applicable standards, and consistent with the goals and elements of the Aspen Area Community Plan; and, WItEREAS, the City Council finds that this Ordinance furthers and is necessary for the promotion of public health, safety, and welfare. Ordinance No. 25, Series of 1999. Page I NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ASPEN, COLORADO, THAT: Section 1: The Official Zone District Map of the City of Aspen shall be amended by the Community Development Director to reflect Lot # I, Burlingame lhnch Subdivision, as described in Section 2, as included in the Conservation (C) and Rural Residential (RR) Zone Districts. The Community Development Director shall use the survey descriptions contained in Section 2 as the basis for determining the zoning boundaries. Section 2: Burlingame Ranch Subdivision Lot #1 Legal Description: Lot #2 of the Burlingame Ranch Subdivision is legally described as a tract of land located in the west ~ of section 2, Section 3, and the northwest ¼ of the northwest ¼ of Section 2, all in T10S, R85W of the 6th P.M., Pitkin County, ColOrado, more fully described in Exhibit A. Land to be inchdeal in the Rural Residential (RR) Zone District: Land to be included in the Rural Residential Zone District shall include: 1. The portion of Burlingame Ranch residing east of State Highway 82 and commonly referred to the "bowl" and legally described as land located in the west V2 of Section 2 T10S, R85W of the 6th P.M., Pitkin County, Colorado, more fully described in Exhibit B as "Parcel A.' 2. The portion of Burlingame Ranch residing east of State Highway 82 and south of the Aspen Airport Business Center, legally described as land located in the northeast ¼ of Section 3, T10S, R85W of the 6th P.M., Pitkin County, Colorado, more fully described in Exhibit B as "Parcels C & D." Land to be included in the Conservation (C) Zone District: Land to be included in the Conservation Zone should include: The entire portion of Lot #1, Burlingame Ranch Subdivision, as described in Exhibit A, excluding the lands described in Exhibit B intended for the Rural Residential Zone District. Land Within Road Rights-of-Way: All land within State Highway 82 and other public street rights-of-way shall be zoned consistent with the City Zone District designation of the adjacent parcel. In the event the right-of-way is bordered by two different City zone districts, the center line shall become the zoning boundary. In the event the right-of-way is bordered entirely by parcels in Pitkin County jurisdiction, the zoning for that area of the right- of-way shall be consistent with the City Zone District designation of the parcel in closest proximity. Section 3: This Ordinance shall not effect any existing litigation and shall not operate as an abatement of any action or proceeding now pending under or by virtue of the ordinances repealed or amended as herein provided, and the same shall be conducted and concluded under such prior ordinances. Ordinance No. 25, Series of 1999. Page 2 Section 4: If any section, subsection, sentence, clause, phrase, or portion of this Ordinance is for any reason held invalid or unconstitutional in a court of competent jurisdiction, such portion shah be deemed a separate, distinct and independent provision and shall not affect the validity of the remaining portions thereof. Seedon 5: That the City Clerk is directed, upon the adoption of this Ordinance, to record among the real estate records of the Pitkin County Clerk and Recorder a copy of this Ordinance. Section 6: A public hearing on the Ordinance was held on the 12th day of July, 1999, at 5:00 in the City Council Chambers, Aspen City Hall, Aspen, Colorado, fifteen (15) days prior to which hearing a public notice of the same was published in a newspaper of general circulation within the City of Aspen. INTRODUCED, READ AND ORDERED PUBLISHED as provided by law, by the City Council of the City of Aspen on the ] 4th d y of June, 1999. Attest: Kathryn S. Koch, City Clerk Rachel Richards, Mayor FINALLY, adopted, passed and approved this day of ,1999. Attest: Kathryn S. Koch, City Clerk Rachel Richards, Mayor Approved as to form: City Attorney Exhibit A -- Legal Description of Lot #1, Burlingame Ranch Subdivision Exhibit B -- Legal Descriptions for Zoning Boundaries Ordinance No. 25, Series of 1999. Page 3 ""' ,'-, Drexel Barrell ,co. En~ne~r~/Su~'eyors ~e 10, 1999 ColomdoSp~n~s. A legal des~pt~on of a ~ra~ of land located G~le~' the NEt/4 of Section 3, TIOS, R85W of ~e 6th P.H., Pt~in County, Colorado to be rezoned =~P~=~Cir:~ described as follows: B0uI~. Co~0r~do 8030J -2~75 ' 303 ~243T3 Cc~encing at the Northeast comer of said Section 3 ~ence S03~54'00"E, 60.83 feet along the East line ~f Section ~ to ~e ~ POINT OF BEGI~ING. Thence S03o54'00"W, 628.59 feet along the East line of ~he NE1/4 of said Section 3; Thence S34~10'31"W, 104.09 feet; Thence S46°43'48"W, 171~ll feet; Thence S31°07'15"W, 28.33 feet~ Thence S16°45'45"W, 50.87 feet; Thence S12°34'30"W, 57.66 feet; Thence Southwesterly, 229.84 feet along the arc of a curve concave to the Northwest said arc having a radius of 793.11, a central angle of 16~36'14" being subtende~ by a chord that bears $27o50'56"W, 229.03 feet~ ThenCe S41~21'17"~ 196.41 feet~ Thence Southwesterly, 196.02 feet along the arc of a curve concave to the Southeast said arc havinga radius of 660.85, a central angle of 16~59'43" being subtended by a chord that bears S36~00,46"W, 195.30 feet; (S.Pulling - 5665-5C - 5033L.SP) I EXHIBIT A BURLINGAME RANCH STAFF COMMENTS: Burlingame Ranch Rezoning Section 26. 92.020, Standards Applicable to Rezoning In reviewing an amendment to the official zone district map, the City Council and the Commission shall consider: A. Whether the proposed amendment is in conflict with any applicable portions of this title. Staff Finding: The proposed zoning is consistent with th~ Land Use Code and does not represent any potential conflicts. This zoning provides the most congruent land use regulations with those previously provided in Pitkin County and provides the most appropriate zoning given the location, topography, access, and considering there is no formal application describing the uses and densities proposed in the contemplated "Burlingame Village." The Burlingame Seasonal Housing project was approved for Lot #2 of this Subdivision, eliminating the need to provide zoning for that land with this Ordinance. This Ordiancne only addresses the remaining Lot #1, the larger parcel. The P&Z Resolution recommended the 3.9 acre area be zoned RR or as otherwise approved with the pending land use application for the Seasonal Housing project. In other words, the Commission's recommendation remains valid with the Seasonal Housing project's approval. B. Whether the proposed amendment is consistent with all elements of the Aspen Area Comprehensive Plan. Staff Finding: Contrary to many statements that have been made about this parcel, the 1993 AACP did not identify Burlingarne Ranch as a site for affordable housing. Of course this 1993 plan identified specific parcels based on a then current understanding of their ownership and immediate future. Staff underscores a commonly used statement about comprehensive plans: They are broad in scope and general in nature. While the 1993 plan considered specific parcels, the more general parcel characteristics are not limited by arbitrary ownership boundaries. In other words, what was said about one parcel may often times be said about the neighboring parcel. In close proximity to Burlingame Ranch and providing some guidance for ~is parcel, two sites were identified in the 1993 AACP with the following recommendations: The Zolineparcel: 1 ("great" rating), deed restricted lots via the growth management process. If this property ever submits a growth management application for development this would be an appropriate location for deed restricted lots. Staff Comments 1 Pfister (Maroon Creek ClubAH): 2 ("good" rating), if in the event the Development Corporation cannot put the 39 deed restricted units in the location as approved at the intersection of Stage Road and Highway 82, the location should be re-evaluated and perhaps units should be dispersed throughout the property in a less-dense manner. The Zoline parcel could still be developed and sold as deed restricted lots. However, there has been presented the opportunity for a partnership with the City to develop an affordable housing project on a portion of the Zoline parcel. The Pfister parcel (Maroon Creek Club) was developed in the original development pattern (not re-evaluated). The affordable housing units were a mitigation requirement by the County and the property is now within the City of Aspen. The draft update of the community plan (the 1998 AACP) identifies the Burlingame Ranch parcel as a secondary site for the development of affordable housing. This is a draft plan and has not been adopted. Following are statements relevant to the Burlingame parcel from the draft AACP: · "... we again call for a critical mass of permanent residents and employees to be housed within the urban area. Our goal is to reverse the tide and bring back the ebbing balance of our community/resort." Excerpt from Managing Growth Philosophy. · "We should endeavor to bring back the middle class back into the community. We should discourage sprawl and recognize its cost to the character of our Community, our open spaces, and our rural resources." Excerpt from Managing Growth Philosophy. · "To conserve our rural resources, we recommend that an Aspen Community Boundary be identified... A Community Growth Boundary will focus and reduce infrastructure expenditures, reduce the spread of development into the countryside and maintain a rural character between communities, While at the same time promoting concentrations of development supportive of transit and pedestrian accessibility." Excerpt from Managing Growth Philosophy. · "Local and regional land use and development patterns should enable and support travel by alternative modes of transportation. New development should take place only in areas well served by transit, and only in compact, mixed-use patterns that are conducive to walking and bicycling." Excerpt from Transportation Philosophy. · "We still believe that a 'critical mass' of local working residents is needed to sustain our economy." Excerpt from Affordable Housing Philosophy. · "... we believe it is important for Aspen to maintain a sense of opportunity and hope (not a guarantee) for our workforce to become vested members of the community." Excerpt from Affordable Housing Philosophy. · "Housing sites should be rated with emphasis placed on living within walking distance of transit, employment areas and social connections." Excerpt from Affordable Housing Philosophy. Staff Comments 2 · "Development of affordable housing within the traditional town site should be encouraged so as to protect our open and rural lands." ~xcerpt~om Affordable Housing Philosophy. · "Evaluate opportunities for publicly held properties to be developed or redeveloped to include or be replaced by affordable housing. The public holds properties that'could be redeveloped with affordable housing without impeding the existing use. These parcels should be evaluated for their qualities as affordable housing sites and their ability to contribute to our town's affordable housing dilemma without consuming our valuable rural lands or open space." Excerpt fi~om .~ffordable Housing Action Plan. Staffbelieves the proposed zoning is consistent with the AACP. It is important to note that this land continues to be considered for a significant affordable housing development. The concept of this potential development, Burlingame Village, is included in the draft 1998 AACP and represents many of the goals and objectives of the Community Plan. Staff, however, believes that individual land use applications should be able to "stand on their own" with respect to the finally adopted AACP and does not wish to prejudge the project and up-zone the Burlingame Ranch parcel without the opportunity to fully evaluate the proposed project, its irafacts, and its consistency with the AACP in its adopted form. C. Whether the proposed amendment is compatible with surrounding zone 'districts and land uses, considering existing !and use and neighborhood characteristics. Staff Finding: gFestern Portion. Surrounding the western half of the parcel is a low-density residential development, the base of Buttermilk Ski Area, and Sardy Field - the only private and commercial airport in the county. The portion of the Burlingame Ranch parcel remaining in the counZy, and not part of this rezoning, is proposed for one single-family residence which staff believes is consistent with the residential neighborhood. The area affected by the airport is' proposed for the Conservation Zone District restricting the land appropriately while still allowing for passive and active recreational and farming uses. The majority of the fiat portion of this land is encumbered by the !'Runway Protection Zone" (RPZ) prohibiting permanent structures, including residences. The majority of the steep terrain to the west is too steep to accommodate a significant amount of development. The Conservation zone is the most appropriate for this area as the 10 acre zoning is the least-dense classification in the City. None of this parce] is contiguous with the Buttermilk Ski Area parcel and no coordinated development is being considered at this time. However, the land closest to the ski area base could accommodate a limited amount of development to the extent that compliance with the RPZ could be maintained. In the event this area is considered for development, an application to rezone may need to be submitted if the uses being considered are not allowed in the Conservation Zone. The Conservation (C) zoning for the western portion of this parcel is appropriate given the surrounding land uses and neighborhood characteristics. Eastern Portion. The eastern half of the parcel is surrounded by the Maroon Creek Club (MCC) facilities and affordable housing. To the south exists the MCC facilities including short-term lodge accommodations, golf course and associated uses including the primary maintenance Staff Comments 3 facility for the course, a complete athletic club with a restaurant, a retail pro-shop, and a multi- unit affordable housing complex. To the east are active agricultural and cattle lands. To the north there is a multi-use development (the ABC) containing commercial, residential, and light industrial land uses and an approved Single-family residential neighborhood. The eastern parcel includes Deer Hill. This area is steeply sloped and inappropriate for a significant amount of development. Surrounding Deer Hill are several flat areas which can accommodate development. The area just north of the MCC affordable housing is appropriate for a high-density residential development due to its proximity to existing infrastructure and transit service. This land was recently subdivided from the larger Burlingame Ranch and rezoned to the RMF-A Zone District along with approvals for a 101 unit affordable housing project. The other developable portions of the eastern half of the parcel are the "bowl" area just north of the Soldner parcel and the area south and east of the BMC West parcel. The bowl is relatively fiat and can accommodate a significant development. Regardless of the ongoing discussions with the Zoline Family, this bowl area can accommodate a significant amount of development and could be justifiably zoned for Affordable Housing. However, in absence of a conceptual plan describing the proposed uses and densities of such a project, it is inappropriate tujudge the merits of a land use application before it is submitted. The Rural Residential designation, while it may represent an under-utilization of the property, is appropriate given the current status of the potential Burlingame Village project and the nature of the previous county zoning. The portion of the eastern parcel located closest to the Aspen Airport Business Center (the ABC) represents the remaining developable area on this parcel. In combination with one of the ABC. parcels, a significant amount of development could be accommodated. Again, in absence of a plan describing the uses and concentrations, it is difficult to pre-judge the merits of a potential development application. Staff recommends this area be zone Rural Residential. The steep portions of Deer Hill are proposed for the Conservation Zone District. The Conservation Zone allows for passive and active recreational uses and provides a sufficient amount of protection for the natural landscape. Staff believes these two zoning classifications for the eastern portion of the parcel are compatible with the surrounding land uses and neighborhood. D. The effect of the proposed amendment on traffic generation and road safety. Staff Finding: The difference in build-out potential and trip generation between the existing zoning and the proposed zoning is insignificant. Exhibit B describes the provisions of the previous Pitkin County zoning and the proposed City of Aspen zoning. The density and build-out projections of this analysis are based on pure zoning and do not account for growth management. The existing road network has sufficient capacity to serve the allowable density of the land with this proposed zoning. E. Whether and the extent to which the proposed amendment would result in demands on public facilities, and whether and the extent to which the proposed amendment would exceed the capacity of such facilities, including, Staff Comments 4 but not limited to, transportation facilities, sewage facilities, water supply, parks, drainage, schools, and emergency medical facilities. Staff Finding: The proposed zoning does not represent the development potential to overwhelm existing infrastructure capacities. The potential developments on this property for Seasonal Housing and the Burlingame Village project will be required to mitigate the increased impacts on the infrastructure incluc~ing parks, schools, drainage, etc. to the extent those facilities are negatively affected. F. Whether and the extent to which the proposed amendment would result in significant adverse impacts on the natural environment. Staff Finding: The zoning classifications proposed resemble the zoning which was provided in the county as close as the City's zoning code allows. The Conservation district is appropriate for preserving the steep slopes, undisturbed natural sage, and indigenous wildlife associated with Deer Hill and the steep portions of the we.~,~eru portion of the property, Staff believes this Conservation zoning to be appropriate with respect to adverse impacts upon the natural environment. Again, staff believes it is more appropriate for the potential affordable housing developments to "stand on their own" with respect to this criteria and does not wish to postulate on the impacts associated with these projects until a full application is submitted. For example: the Seasonal Housing project requested a rezoning along with the land use review. This allowed staff and elected and appointed officials to consider the proposed development along with the up-zoning. Staff believes the Rural Residential zoning to be appropriate for areas that can support development. G. Whether the proposed amendment is consistent and compatible with the community character in the City of Aspen. Staff Finding: The update of the AACP is considering a multi-layered approach in defining the appropriate concentrations &development in Aspen and its environs. The Burlingame Ranch parcel has been identified by the update of the AACP which is currently under review and revision, The general understanding of the uses and concentrations being discussed for this parcel are for the approved 101 units (200 beds) of seasonal housing units to be located near the Maroon Creek Club affordable housing. This parcel was subdivided from the larger Burlingame Ranch and provided with the RMF-A zoning and is no longer part of this rezoning Ordinance. The second project being considered is for approximately 200 to 250 affordable housing units to be located on either the bowl just east of Deer Hill or further to the east in combination with the Zoline Family. The actual configuration and density associated with this larger project may vary greatly from the current concept as this project is in the abstract phase and may be significantly changed as the planning process unfolds and as the community desires the project to go forward. Staff believes the Conservation and Rural Residential Zone Districts to be appropriate for the land. Staff Comments 5 It should be noted, however, that significant affordabl'e housing developments are being considered for this parcel in the Community Plan and future up-zonings may occur as land use applications are submitted. Staff believes these projects, at a conceptual level, represent consistency with the character of the community but does not wish to prematurely up-zone the property without the benefit of reviewing more concrete plans and their bearing on the community's character. In this respect, these zoning designations may represent "place-holders" until such time as complete development applications are presented and reviewed in their entirety. H. Whether there have been changed conditions affecting the subject parcel or the surrounding neighborhood which support the proposed amendment. Staff Finding: The City has a statutory obligation to provide this property with zoning within 90 days of the. final annexation. The property was annexed into the City on May 10, 1999. This property has been the recent topic of affordable housing discussions and may be appropriate for a substantial development. In fact, the update of the Aspen Area Community Plan has identified this parcel as a potential development site for affordable housing. In this sense, there have been significant changes in the community and in the general surroundings which could justify zoning this property to the Affordable Housing Zone District. However, without a development application defining the location and density of development it is difficult to ascertain the level of impact with respect to the surrounding land uses, traffic generation, impacts upon infrastructure, the natural environment, and the community character. Until the community arrives at a decision as to whether or not to develop the Burlingame Ranch as affordable housing, staff believes these zone districts to be appropriate for both the interim and long-term (if housing is not developed). In the event the community decides against an affordable housing development, these zone districts provide a range of land uses and densities ' consistent with the historical land use for the parcel. I. Whether the proposed amendment would be in conflict with the public interest, and is in harmony with the purpose and intent of this title. Staff Finding: Assigning zoning to this parcel must be accomplished within 90 days of the final annexation. These two zone districts represent the closest approximation to the previous Pitkin County zoning, and do not pose any conflicts with the public interest. Stuff believes the proposed zoning district promote the purpose and intent of this Title and is in harmony with the public interest. Staff Comments 6 EXHIBIT B BURLINGAME RANCH Zoning Analysis: Lot #1 Burlingame Ranch Subdivision Previous Pitkin County Zoning Proposed City of Aspen Zoning Land Area Build-Out Land Area Build-Out (acres) (res. units) (acres) (res. units) AFR- 10 103 10 Conservation 145 14 (C) AFR-2 71 35 Rural 28 14 Residential (RE) Total 174 45 Total 174 28 Notes: 1. Land area excludes areas within road rights-of-way. 2. The density figures do not consider growth management and do not reflect actual development rights. 3. The approved 101 unit Seasonal Housing Project is not included in this tabulation. This 3.9 acre parcel, Lot #2, has been included in the RMF-A Zone District. Attachment 8 County of Pitkin } AFFIDAVIT OF NOTICE PURSUANT } ss. TO ASPEN LAND USE REGULATIONS State of Colorado } SECTION 26.52.060(E) I, 9,AM~ b I &~ , being or representing an Applicant ~ ~ City of Aspen, personally certify that I have complied with the public notice requirements wsuant to Section 26.52.060(E) of the Aspen Mtmicipal Code in the following manner: 1. By mailing of notice, a copy of which is attached hereto, by first~class postage prepaid U.S. Mail to all owners of property ~ thr e hundred (300) feet of~he subject property, as indicated By pos '~ ~s~ign in a cons;ieuous place on the subject property (as it Could be seen fr~ ( Attach photograph here) ~d fore me this f;~"day of , . be 199:~.. by ~_~~~ WITNESS MY HAND AND OFFICIAL .SEAL PUBLIC NOTICE ~ RE: BURLINGAME RANCH REZONING TO ~ CONSERVATION (C) AND RURAL RESIDENTIAL (RR) ZONE DISTRICTS NOTICE IS HEREBY GIVEN that a public hearing will be held on Monday, July 12, 1999, at a meeting to begin at 5:00 p:m. before the Aspen City Council, Council Chambers, City Hall, 130 S. Galena St., Aspen, to fezone the property to the Conservation (C) and Rural Residential CRR) Zone Districts. Burlingame Ranch is located on both sides of State Highway 82 at the Owl C~eek Road intersection. The property is legally described as Lots 6 and 18, Section 2, and Lots I, 7, 8, 9, I0, 16, 17, 18, 19, 20 and 21, Section 3, TS105, R85 W of the 6th PM, with exceptions. For further information contact Chris Bendon at the Aspen/Pitkin Community Development Department, 130 S. Galena St., Aspen, CO (970) 920-5072, chrisb@ci.aspen~co.us. s/Rachel Richards, Mayor Aspen City Counc~ PubEsbed in the Aspen Times on June 26, 1999 City of Aspen Account MEMORANDUM TO: Chris Bendon, Community Development Department Sarah Oates , Community'Development Department FROM: Jim Curtis , Project Manager DATE: May 17, 1999 RE: Burlingame Ranch ZOning Application Property Owners Within 300' of Buffingsine Ranch Submitted herein are the "Propm~/Owners Within 300' of Burlingame Ranch" for the Burlingame Ranch Zoning Application. This list is true and correct to the best knowledge of the applicant as of May 17, 1999, based on the records of the pitkin County Assessor's and Treasurer's Offices. Multi-mailing 'addresses have been used for property ownm where the applicant is aware that the property owner has a local representative or attorney. Please use this list for all public notices, mailings, etc. for the Burlingame Ranch zoning application. Please feel flee to call on any questions (920-1395.) Thank you. BURLINGAME RANCH ZO1NING APPLICATION PROPERTY OWNERS WITHIN 300' OF BURLINGAME RANCH 1. Parcel No. 2735-03-400040 Craig R. Stapleton Craig IL Stapleton Stapleton Associates C/O Stapleton Property P.O. Box 1576 Dave Myler Greenwich, CT 06836 Freilich, Myler, et.al, Attorneys 106 South Mill Street, Suite 202 Aspen, CO 81611 2. Parcel No. 2735-02-309052 Maroon Creek Apt. LP Maroon Creek Apt. LP · Pearce Equities Pcarcc Equities I0 Club Circle C/O Andrew V. Hecht Aspen, CO 81611 Garfield & Hecht, Attorneys 601 E. Hyman Ave. Aspen, CO 81611 3. Parcel No. 2735-02-309051 Maroon Creek LLC Maroon Creek LLC Maroon Creek Club Plouse Maroon Creek Club House Peatee Equities Pcarcc Equities 10 Club Circle C/O Andrew V. Hecht Aspen, CO 81611 Garfield & Hccht, Attorneys 601 E. Plyman Ave. Aspen, CO 81611 4. Parcel No. 2735-02-309051 Maroon Creek Club Lot 51 Maroon Creek Club Lot 51 Arthur O. P~ster Arthur O. P~ster P.O. Box EE C/0 Andrew V. Hecht Aspen, CO 81612 Garfield & Hecht, Attomeys 601 E. Hyman Ave. Aspen, CO 81611 5. Parcel No. 2735-112-209053 Maroon Creek LLC Maroon Creek LLC Golf Course Golf Course Pearce Equities Pearoe Equities 10 Club Circle C/O Andrew V. Hecht Aspen, CO 81611 Garfield & Hecht, Attorneys 601 E. Hyman Ave. Aspen, CO 81611 6. Parcel NO. 2735-112-209055 Maroon Creek LLC Maroon Creek LLC . Common Area Common Area · Peatee Equities Pearce Equities 10 Club Circle C/O Andrew V. Hecht Aspen, CO 81611 Garfield & Hecht, Attorneys 601 E. Hyman Ave. Aspen, CO 81611 7. Parcel No. 2735-02-300005 Soldner Family Partnership Soldher Family Partnership Paul Soldner C/O Stephanie Sullivan P.O. Box 90 P.O. Box 2238 Aspen, CO 81612 Frisco, CO 80443 8. Parcel No. 2735-02-300006 Joseph T. Zoline Joseph T. Zoline Zoline Family Ranch Zoline Family Ranch 624 N. Canon Drive C/O John Lii~on and Beverly Hills, CA 90210 Pamela Zoline Lifton P.O. Box 997 Telluride, CO 81435 9. parcel No. 2~35:02409851 CiW of Aspen Cit~ Manager 130 S. Gal~na Street Aspen, CO 81611 I0. parcel No. 2735.02-200802 Park Trust Ltd. Park Trust Ltd. CtO Reid Haughey P.O. Box 940 1228 Kings Row Ave. Aspen, CO 81612 Carbondale, CO 81623 11. parcel 1,1o. 2735-02.400004 Connie Harvey Convie Harvey 1100 Stage Road 42 D AABC Aspen, CO 81611 Aspen, CO 81611 12. parcel No. 2735-02400005 · 'Joy Caudill · P.O. Box FF Aspen, CO 81612 13. parcel No. 2735-03-100045 Dale Eubank 0498 Rose Lane Carbondale, CO 81623 14. parcel No. 2735-03-101001&2 BMC Holdings, Inc. P.O. Box 7006 720 Park Blvd, Suite 200 Boise, ID 83707 3 15. Parcel No. 2735~03-101003 U.S. West Communications 6300 S. Syracuse Way Suite 700 N Englewood, CO 80111 16. Parcel No. 2735-02-200001 Robert Lorton Tulsa World P.O. Box 2008 Tulsa, OK 74101 17. Parcel No. 2735-03-400039 Norwest Bank Des Moines, Trustee Friedl Pfeifer Trust P.O. Box 837 Des Moines, IA 50309 18. Parcel No. 2735-03-100004 'Otto Studhalter & Pat~cia K. Jt. 3 Seven Oaks Road #L4 Glenwood Spring, CO 81601 19. Parcel No. 2735-03-100851 Pitkin County Property Pitkin County Manager 530 E, Main Street, Ste 302 Aspen, CO 81611 20. Parcel No. 2643-343-20085 pitkin County Airport Pitkin County Aizport Airport Manager C/O 'Pitkin County Manager 233 E. Airpon Road, Ste A 530 E. Main Street, Suite 302 Aspen, CO 81611 Aspen, CO 81611 4 21. Parcel No. 2735-03-400948 Buttermilk Mountain Skiing Company C/O Chris Kiley ASC, Planning Department P.O. Box 1248 Aspen, CO 81612 Footnote: This Updated Exhibit #8 is lrue and correct to the best knowledge of the applicant as of May 17, 1999, based on the records of the Pitkin County Assessor's and Treasurer's Offices. Multi-mailing addresses have been used for property owners where the applicant is aware that the property owner has a local .representative or attorney. FROM: Joy~e Ohlson, Deputy Directox._~k"~ RE: Code Amendment --- Section 26.04.100, Definitions, "Floor Area, G.. Accessory Dwelling Unit or Linked Pavilion" ~-- Second Reading of Ordinance No. 26, Series of 1999. DATE: July 12, 1999 SUMMARY: Please review the attached (Exhibit A) copy of the staff memorandum to City Council regarding the Appeal of Code Interpretation: Section 26.04.100, Definitions, "Floor Area, G. Accessory Dwelling Unit or Linked Pavilion." At the May 10th bearing, City Council passed the two following motions, both by votes of four to zero (4-0): I move to direct staff to pursue a simple code amendment that would allow an FAR bonus for detached ADUs above a two-car garage with a maximum building footprint of between 550 and 625 square feet, with the final number to be determined by the Planning and Zoning Commission during its review of the proposed amendment. And, I move to uphold the Community Development Director's March 24, 1999, Code Interpretation regarding the definition of 'Floor Area, G. Accessory Dwelling Unit or Linked Pavilion.' The proposed code amendment outlined in this memorandum is in response to the City Council direction explained above. Community Development Department staff and the Planning and Zoning Commission recommend that City Council adopt the code amendment to Section 26.04.100, Definitions, "Floor Area, G. Accessory Dwelling Unit or Linked Pavilion," as proposed herein. APPLICANT: The City of Aspen Community Development Department.. PROCEDURE: Pursuant to Section 26.92.030, Procedure for Amendment, an application for an amendment to the text of the Municipal Code shall be reviewed and recommended for approval, approval with conditions, or disapproval by the Planning Director and then by the Planning and Zoning Commission at a public hearing, and then approved, approved with conditions, or disapproved by the City Council at a public hearing. PREVIOUS ACTIONS: See Exhibit A and the "Summary" section, above. Also, the Planning and Zoning Commission reviewed the code amendment proposed herein at their June 8, 1999 hearing and recommended approval by a vote of six to zero (6-0). First Reading by City Council was approved on the consent agenda on June 21, 1999. DISCUSSION: Currently, Section 26.04.100, Definitions, of the Municipal Code defines "Floor Area," as it relates to an "Accessory Dwelling Unit or Linked Pavilion" as follows: G. Accessory Dwelling Unit or Linked Pavilion. For the purpose of calculating floor area ratio and allowable floor area for a lot whose principal use is residential, the following shall apply: The allowable floor area for an attached accessory dwelling unit shall be excluded up to a maximum of three hundred fifty (350) square feet of allowable floor area or fifty (50) percent of the size of the accessory dwelling unit whichever is less. An accessory dwelling unit separated from a principal structure by a distance of no less than ten (10) feet with a maximum footprint of four hundred fifty (450) square feet, shall be calculated at fifty (50) percent of allowable floor area up to seven hundred (700) square feet of floor area. Any element linking the principal structure to the accessory unit may be no more than one (1) story tall, six (6) feet wide and ten (10) feet long. This definition indicates that an ADU separated from a principal structure by a distance of no less than ten (10) feet with a maximum footprint of four hundred fifty (450) square feet is entitled to an FAR bonus. However, it is nearly impossible to provide a functional two-car garage with a footprint of under 450 Square feet. Realizing this, Council has directed staff to pursue a simple code amendment that would allow for the "automatic" FAR bonus applying to detached ADUs above a two-car garage with a maximum footprint of between five- hundred fifty (550) and six hundred twenty-five (625) square feet, with the final number to be determined by the Planning and Zoning Commission during its review of the proposed amendment. Since the code requires that floor area and footprints be measured to the outside of the walls, a maximum footprint of 625 square feet (25' x 25') would accommodate a reasonable two-car garage while still ensuring that the detached structure is "incidental to," "subordinate to," and "subordinate in area, extent, and purpose" to the primary structure/residence. PROPOSED AMENDMENT: Staff proposes amending the above-cited definition to read as follows, with text to be eliminated ~ri;k~n ok~t and text to be added in bold: G. Accessory Dwelling Unit or Linked Pavilion. For the purpose of calculating floor area ratio and allowable floor area for a lot whose principal use is residential, the following shall apply: The allowable floor area for an attached accessory dwelling unit shall be excluded up to a maximum of three hundred fifty (350) square feet of allowable floor area or fifty (50) percent of the size of the accessory dwelling unit whichever is less. An accessory dwelling unit separated from a principal structure by a distance of no less than ten (10) feet with a maximum building footprint of four hundrsd fifty (~50) six hundred twenty-five (625) square feet, shall be calculated at fifty (50) percent of allowable floor area up to seven hundred (700) square feet of Tloor area. Any element linking the principal structure to the accessory unit may be no more than one (1) story tall, six (6) feet wide and ten (10) feet long. REVIEW STANDARDS: Chapter 26.92, Amendments To The Land Use Regulations And Official Zone District Map, at Section 26.92.020 provides nine (A~I) standards for City Council and the Planning and Zoning Commission's review of proposed amendments to the text of the Land Use Code. These standards and staffs evaluation of the potential amendments relative to them are provided below, with the standard in italics followed by the staff "response." 2 .,t.Whether the proposed amendment is in conflict with any applicable portions of this title. RESPONSE: The proposed amendment would not be in conflict with any applicable portions of the Aspen Municipal Code. B. Whether the proposed amendment is consistent with all elements of the ~4spen Area Comprehensive Plan. RESPONSE: None of the proposed amendments would be in conflict with any elements of the AACP, and are very much consistent with the "Intent" and "Philosophy" statements of the Housing Action Plan (page 30 of the AACP). C. Whether the proposed amendment is compatible with surrounding zone districts and land uses, considering existing land uses and neighborhood characteristics. RESPONSE: The proposed amendment would effect all zone districts that allow ADUs as conditional uses. As explained above, in the "Discussion" section of this memorandum, a maximum footprint of 625 square feet (25' x 25 ') w~dld accommodate a reasonable two-car garage while still ensuring that the detached structure is "incidental to," "subordinate to," and "subordinate in area, extent, andpurpose" to the primary structure/residence. All ADUs would still be subject to Conditional Use Review, which includes criteria pertaining to neighborhood compatibility. D. The effect of the proposed amendment on traffic generation and road safety. RESPONSE: The proposed code amendments are not anticipated to have any effect on traffic generation or road safety. Again, all ADUs would still be subject to Conditional Use Review, which includes criteria pertaining to traffic generation and road safety. E. Whether and the extent to which the proposed amendment would result in demands on public facilities, and whether and the extent to which the proposed amendment would exceed the capacity of such public facilities, including but not limited to transportation facilities, sewage facilities, water supply, parks, drainage, schools, and emergency medical facilities. RESPONSE: The proposed code amendments are not anticipated to have an effect on infrastructure or infrastructure capacities. Again, all ADUs would still be subject to Conditional Use Review, which includes criteria pertaining to the capacities and availability of public facilities. F. Whether and the extent to which the proposed amendment would result in significantly adverse impacts on the natural environment. RESPONSE: The proposed code amendments are not anticipated to have an effect on the natural environment. G. Whether the proposed amendment is consistent and compatible with the community character in the City of Aspen. RESPONSE: As explained above, in the "Discussion" section of this memorandum, a maximum footprint of 625 square feet (25' x 25 ') would accommodate a reasonable two-car 3 garage while still ensuring that the detached structure is "incidental to," "subordinate to," and "subordinate in area, extent, andpurpose" to the primary structure/residence. All ADUs would still be subject to Conditional Use Review, which includes criteria pertaining to neighborhood compatibility. H. Whether there have been changed conditions affecting the subject parcel or the surrounding neighborhood which support the proposed amendment. RESPONSE: There has been no significant change in Aspen's general character. The proposed amendment would not affect a particular "subject parcel" or a particular "surrounding neighborhood." Again, all ADUs would still be subject to Conditional Use Review, which includes criteria pertaining to neighborhood compatibility. I. Whether the proposed amendment wouM be in conflict with the public interest, and is in harmony with the purpose and intent of this title. RESPONSE: Staff believes the proposed amendment would be in harmony with the public interest in encouraging the provision of affordable housing in the form of livable, above- grade Accessory Dwelling Units. RECOMMENDATION: Staff and the Planning and Zoning Commission recommend that City Council approve the amendments to Section 26.04.100, Definitions, "Floor Area, G. Accessory Dwelling Unit or Linked Pavilions" as proposed herein. RECOMMENDED MOTION: "I move to approve Ordinance No. 26, Series of 1999." EXHIBITS: Exhibit A - Staff Memorandum to City Council dated May 10, 1999, regarding the Appeal of Code Interpretation: Section 26.04.100, Definitions, "Floor Area, G. Accessory Dwelling Unit or Linked Pavilion." c:~home\raitchh\council\footprnt2nd.doc 4 ORDINANCE No. 26 (Series of 1999) AN ORDINANCE OF THE ASPEN CITY COUNCIL APPROVING TEXT AMENDMENTS TO MUNICIPAL CODE SECTION 26.04,100, DEFINITIONS, "FLOOR AREA, G. ACCESSORY DWELLING UNIT OR LINKED PAVILION," PURSUANT TO CHAPTER 26.92, AMENDMENTS TO THE LAND USE REGULATIONS AND OFFICIAL ZONE DISTRICT MAP, OF THE ASPEN MUNICIPAL CODE. WHEREAS, Pursuant to the procedures and provisions set forth in Chapter 26.92 of the Aspen Municipal Code, the Community Development Department has formally proposed amending Section 26.04.100, Definitions, of the Aspen Municipal Code; ~and, WHEREAS, pursuant to Section 26.92.030, Procedure for Amendment, of the Aspen Municipal Code, an application for amendment to the text of the Municipal Code shall be reviewed and recommended for approval, approval with conditions, or disapproval by the Planning Director and then by the Planning and Zoning Commission at a public hearing, and then approved, approved with conditions, or disapproved by the City Council at a public hearing; and, WHEREAS, the Community Development Department prepared a set of proposed amendments and recommended approval to the Planning and Zoning Commission; and, WHEREAS, the Planning and Zoning Commission reviewed the proposed amendments and did conduct a properly noticed public hearing on June 8, 1999; and, WHEREAS, upon review and consideration of the proposed text amendments, agency and public comment thereon, and those applicable standards as contained in Chapter 26 of the Municipal Code, to wit, Division 92 (Text Amendments), the Planning and Zoning Commission has, by vote of six to zero (6-0), recommended that City Council adopt the amendments related to the definition of "Floor Area, G. Accessory Dwelling Unit or Linked Pavilion," as proposed in the Community Development Department staff memorandum dated June 8, 1999; and, WHEREAS, the Aspen City Council has reviewed and considered the text amendments recommended by the Community Development Department and the Planning and Zoning Commission under the applicable provisions of the Municipal Code as identified heroin, and has taken and considered public comment at a properly noticed public hearing; and, WHEREAS, the City Council finds that the text amendments contained heroin meet or exceed all applicable standards and are consistent with the goals and elements of the Aspen Area Community Plan; and, WHEREAS, the City Council finds that this Ordinance furthers and is necessary for public health, safety, and welfare. NOW, THEREFORE BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ASPEN, COLORADO: Section 1: That pursuant to Section 26.92.020 (Standards for Review) of the Municipal Code, the City Council finds as follows in regard to the text amendments: 1. The proposed text amendments are not in conflict with the provisions of Chapter 26 of the Municipal Code or the Aspen Area Community Plan. 2. The proposed text amendments will promote the public interest and character of the City of Aspen. Section 2: That Section 26.04.100, Definitions, "Floor Area, G. Accessory Dwelling Unit or Linked Pavilion," of the Aspen Municipal Code shall be amended to hereafter read as follows: G. Accessory Dwelling Unit or Linked Pavilion. For the purpose of calculating floor area ratio and allowable floor area for a lot whose principal use is residential, the following shall apply: The allowable floor area for an attached accessory dwelling unit shall be excluded up to a maximum of three hundred fifty (350) square feet of allowable floor area or fifty (50) percent of the size of the accessory dwelling unit whichever is less. An accessory dwelling unit separated from a principal structure by a distance of no less than ten (10) feet with a maximum building footprint of six hundred twenty-five (625) square feet, shall be calculated at fifty (50) percent of allowable floor area up to seven hundred (700) square feet of floor area. Any element linking the principal structure to the accessory unit may be no more than one (1) story tall, six (6) feet wide and ten (10) feet long. Section 3: This Ordinance shall not affect any existing litigation and shall not operate as an abatement of any action or proceeding now pending under or by virtue of the ordinances repealed or amended as herein provided, and the same shall be conducted and concluded under such prior ordinances. Section 4: If any section, subsection, sentence, clause, phrase, or portion of this Ordinance is for any reason held invalid or unconstitutional in a court of competent jurisdiction, such portion shall be deemed a separate, distinct and independent provision and shall not affect the validity of the remaining portions thereof. Section 5: A public hearing on the Ordinance was held on the 12th day of July, 1999 at 5:00 p.m. in the City Council Chambers, Aspen City Hall, Aspen, Colorado, fifteen (15) days prior to which hearing a public notice of the same was published in a newspaper of general cimulation within the City of Aspen. 2 INTRODUCED, READ 'AND ORDERED PUBLISHED as provided by law, by the City Council of the City of Aspen on the 21 st day of June, 1999. John Bennett, Mayor APPROVED AS TO FORM: John Worcester, City Attorney ATTEST: Kathryn S. Koch, City Clerk FINALLY, adopted, passed and approved this ... day of ,1999. John Bennett, Mayor Attest: Kathryn S. Koch, City Clerk c:~homeXmitchh\councilXfootpmtord2.doc MEMORANDUM TO: The Mayor and City Council THRU: Amy Margerum, City Manager John Worcester, City Attorney Julie Ann Woods, Community Development Director Joyce Ohlson, Deputy Director FROM: Mitch Haas, Planner RE: Appeal of Code Interpretation:. Section 26.04.100, Definitions, "Floor Area, G. Accessory Dwelling Unit or Linked Pavilion." DATE: May 10, 1999 SUMMARY: Section 26.04.100, Definitions, of the Municipal Code defines "Floor Area," as it relates to an "Accessory Dwell'ing Unit or Linked Pavilion" as follows: G. Accessory Dwelling Unit or Linked Pavilion. For the purpose of calculating ~oor area ratio and allowable floor area for a lot whose principal use is residential, the following shall apply: The allowable floor area for an attached accessory dwelling unit shall be excluded up to a maximum of three hundred fifty (350) square feet of allowable floor area or ~fty (50) percent of the size of the accessory dwelling unit whichever is less. An accessory dwelling unit separated from a principal structure by a distance of no less than ten (lO) feet with a maximum footprint of four hundred fifty (450) square feet, shall be calculated at ~fty (50) percent of allowable ~oor area up to seven hundred (700) square feet of floor area. Any element linking the principal structure to the accessory unit may be no more than one (1) story tall, six (6)feet wide and ten (lO) feet long. This definition indicates that an ADU separated from a principal structure by a distance of no less than ten (10) feet with a maximum footprint of four hundred fifty (450) square feet is entitled to an FAR bonus. Ventures West has submitted a request for interpretation arguing that the term "footprint" refers to the ADU itself (its floor plan), and not necessarily to where the structure in which the ADU is incorporated meets the ground (plan view). They explain that the language of the definition, as they read it, indicates that the footprint of the ADU (nOt the encompassing structure) must not exceed 450 square feet to qualify for the FAR bonus. Ventures West purports that the word "footprint" is commonly used to describe the bottom perimeter of an architectural unit such as a room, a floor, a pool, etc., on whatever base it may rest, not necessarily just the ground. They go on to explain that, "The inclusion of the underlying structure to 450 square feet just because it is the part of the structure that meets the ground is certainly not implied in the common use of the word footprint, nor is it a reasonable assumption that it would be." "As we [Ventures West] read the code, all that is clear is that the footprint of the ADU is restricted to 450 square feet (net livable) regardless of whether it is on grade, below grade, or part of a structure above grade." (See Exhibit A.) INTERPRETATION: Staff of the Community Development Depanment has rnntinely and consistently administered the above-cited definition as requiring that detached structures containing ADUs have a maximum footprint of 450 square feet to be eligible for an FAR bonus. In doing so, the term "footprint" has been interpreted to mean "the structure as drawn in plan view, or the conglomeration of all points of intersection between the structure and finished grade." In other words, the term "footprint" as used in the "Floor Area" definition has always been interpreted as a reference to the footprint of the structure in which the ADU is incorporated, and not to the floor plan of the unit itself. (See Exhibit B.) BACKGROUND: In designing a residence with an allowable FAR of 6,114 square feet, the applicant assumed an "automatic" FAR bonus of 50% of the ADU's floor area, and used all of the site's allowable FAR (plus the bonus and exempted areas such as subgrade spaces/basement and garages). The original proposal would have located the ADU above the detached two-car garage. When it was realized that the FAR bonus would not be "autom'atic" (i.e., without the imposition of "mandatory occupancy" on the deed restriction as a sort of quid pro quo for a bonus being included with the conditional use approval), the applicant was left with the following options: l) redesign the proposal to fit within the' allowable FAR for the site --- this would have required either elimination of approximately 288 square feet of FAR from the proposed residence of nea~y 10,000 gross square feet, or relocation of the ADU to a subgrade space so that most of its area would be exempt from FAR calculations; 2) redesign the proposed detached structure to have a footprint of 450 square feet or less; 3) apply for a code amendment to change the 450 square foot footprint provision to allow a larger footprint; or, 4) seek a code interpretation of the term "footprint," and if necessary, · appeal the interpretation to Council. The applicant chose to relocate the proposed ADU to a subgrade space in order to avoid having all of its gross square footage count toward the site's total allowable FAR. Staff still found the proposal to meet the review criteria for an ADU as a Conditional Use, and recommended approval to the Planning and Zoning Commission. The Commission feels that, although not precluded by the Land Use Code, subgrade ADUs are not consistent with the direction and recommendations of the AACP. Accordingly, rather than approve the subgrade ADU, the Commission felt it would be better for the ADU to be located in the unused, vaulted space above the detached two-car garage. Consequently, the Planning and Zoning Commission encouraged the applicant to appeal the Community Development Director's Code Interpretation to Council, thinking that the interpretation somehow precluded or discouraged location of the ADU above-grade. DISCUSSION: In interpreting the code language, staff struggled with the following questions. Why would the maximum "footprinf' (floor plan) of the ADU itself be limited to 450 square feet when a 700 square foot unit is permissible? Or, how can a bonus of up to 350 square feet of floor area be possible if the unit's maximum footprint is 450 square feet? Answer: if the applicant's interpretation is correct, the 350 square foot bonus and/or a 700 square foot unit would only be possible for two-story ADUs. Is the City simply attempting to encourage two-story ADUs? Staff thinks not. Similarly, is the City discouraging detached ADUs above two-car garages in order to, instead, encourage the development of these units only above one-car garages or on grade? Again, staff thinks not. Based on the ADU-related information found throughout the City Code and on staffs understanding of the ADU program's purpose, staff concludes that the 450 square foot footprint provision must relate to where the ADU-containing structure meets the ground, and not to the perimeter of the unit's floor plan. For instance, the criterion for the Planning and Zoning Commission to grant the FAR bonus/variation for a detached ADU is a finding that "such variation is more compatible in character with the primary residence.. ." Such a criterion (one related to compatibility in character to the primary residence) would be arbitrary and capricious in relation to the floor plan of a unit within a larger building. That is, under the applicant's interpretation, such a criterion would seek to answer the question of, "Is this room or unit within the detached building compatible with the character of the primary residence?" Further, the variance criterion would be unrelated to the issue of detached accessory dwelling units being in harmony with the letter and spirit of the City definition for "Accessory use or accessory structure," which includes such phrases as: "incidental to;" "subordinate to;" and, "is subordinate in area, extent, and purpose . . ." CO~NCLUSION: While staff is comfortable basing its conclusion on the foregoing lines of reason, it may be added that the term "footprint" is commonly used in architectural circles to refer to a structure as drawn in plan view, or the conglomeration of all points of intersection between the structure and finished Fade. This interpretation has been consistently applied in the past. In fact, 'in recent discussions with various architects, none disagreed with this interpretation and none believed the term applied to individual rooms, floors, etc. All architects staff has conferred with generally understand the term "footprint" to refer to where a structure meets the ground. With regard to the Planning and Zoning Commission's feeling that staffs interpretation somehow precluded or discouraged location of the ADU above-Fade, staff can only respond by pointing out that relocation of the ADU to a subgrade space was required only because the applicant was not willing to either eliminate 288 square feet of FAR from the principal residence, or make the garage smaller. On the other hand, staff agrees with the applicant insomuch as it is nearly impossible to provide a functional two-car garage with a footprint of under 450 square feet. Thus, while staff stands by its interpretation, staff also feels it might be worthwhile to pursue a simple code amendment that would allow for the "automatic" FAR bonus applying to detached ADUs above a two-car garage with a maximum footprint of five- hundred fifty (550) square feet if Council should be so inclined. A maximum footprint of 550 square feet (22' x 25') would accommodate a reasonable two-car garage while still ensuring that the detached structure is "incidental to," "subordinate to," and "subordinate in area, extent, and purpose'? to the primary structure/residence. ' RECOMMENDATION: Staff recommends that City Council uphold the Community DeVelopment Directur's interpretation of Section 26.04.100, Definitions, "Floor Area, G. Accessory Dwelling Unit or Linked Pavilion" finding that the term "footprint" as used in the subject definition refers to a structure as drawn in plan view, or the conglomeration of all points of intersection between the structure and finished grade. In addition, it is recommended that Council direct staff to pursue a simple code amendment that would allow an FAR bonus for detached ADUs above a two-car garage with a maximum footprim of five-hundred fifty (550) square feet. RECOMMENDED MOTION: "I move to uphold the Community Development Director's March 24, 1999, Code Interpretation regarding the definition of "Floor Area, G. Accessory Dwelling Unit or Linked Pavilion," as provided in Section 26.04.100 of the Aspen Municipal Code." "I also move to direct staff to pursue a simple code amendment that would allow an FAR bonus for detached ADUs above a two-car garage with a maximum footprint of five-hundred fifty (550) square feet." EXHIBITS: Exhibit A --- Request for Interpretation Exhibit B --- Director's Interpretation Exhibit C --- Request for Appeal of Interpretation TO: Mayor and Council r~[/ THRU: Amy Margerum, City Manage THRU: Joyce Oldson, Deputy Planning Director,~ FROM: Amy Guthrie, Historic Preservation Officer RE: 121 N. Fifth Street- Historic Landmark Lot Split, Second Reading of Ordinance #27, Series of 1999. DATE: July 12, 1999 SUMMARY: The subject property is a designated historic landmark and contains a house and an outbuilding with two apartments. The application before Council is for a historic landmark lot split. HPC recommended approval of the lot split on June 23, 1999. APPLICANT: Emie Fyrwald, represented by Mary Holly. LOCATION: 121 N. Fifth Street, Lots G, H; and I, Block 24, City and Townsite of Aspen. BACKGROUND: The site in question is a 9,000 square foot lot that currently contains two separate structures. The main structure was built in approximately 1885-1887 and appears to have had several subsequent remodels. It is one story in height and approximately 1,i66 square feet in size and is used as a single family dwelling. The other structure on the site is a two story building of approximately 1,162 square feet. The date of construction is uncertain. It contains two apartments and causes the property to be non-conform'rag because no more than two residential units are allowed on a 9,000 square foot lot in the R-6 zone district. PROCESS: The following standards from the Land Use Code apply to and are to be utilized in the review and evaluation of a historic landmark lot split. Staff has provided "responses" to each standard to assist Council in making findings regarding this application. HISTORIC LANDMARK LOT SPLIT REVIEW STANDARDS: The Historic Landmark Lot Split shall meet the requirements of Section 26.88.030(A)(2) and (5), Section 26.100.050(A)(2)(e), and Section 26.72.010(G). Section 26.88.030(A)(2), Subdivision Exemptions, Lot Split. The split of a lot for the purpose of the development of one detached single-family dwelling on a lot formed by a lot split granted subsequent to November 14, 1977, where all of the following conditions are met. a. The land is not located in a subdivision approved by either the Pitkin County Board of County Commissioners or the City Council, or the land is described as a metes and bounds parcel which has not been subdivided after the adoption of subdivision regulations by the City of Aspen on March 24, 1969; and Response: The lot has not been previously subdivided. b. No more than two (2) lots are created by the lot split, both lots conform to the requirements of the underlying zone district. Any lot for which development is proposed will mitigate for affordable housing pursuant to Section 26.100.040(A)( 1 )(c). Response: Two lots are created, both of which conform to the minimum lot size requirements of the R-6 zone district. An Accessory Dwelling Unit (ADU) or cash-in- lieu payment will be required for the house on Lot B. An ADU or cash-in-lieu payment will be required on Lot A if more than 50% of the existing single family house is demolished. The applicant may also choose to voluntarily provide an ADU on Lot A. e. The lot under consideration, or any part thereof, was not previously the subject of a subdivision exemption under the provisions of this chapter or a "lot split" exemption pursuant to Section 26.100.040(C)( 1 )(a); and Response: No previous lot split exemption was granted. d. A subdivision plat which meets the terms of this chapter, and conforms to the requirements of this title, is submitted and recorded in the office of the Pitkin County clerk and recorder after approval, indicating that no further subdivision may be granted for these lots nor will additional units be built without receipt of applicable approvals pursuant to this chapter and growth management allocation pursuant to Chapter 26.100. Response: The filing of said subdivision plat shall be a condition of this approval. e. Recordation. The subdivision exemption agreement and plat shall be recorded in the office of the Pitkin County clerk and recorder. Failure on the part of the applicant to record the plat within one hundred eighty (180) days following approval by the City Council shall render the plat invalid and reconsideration of the plat by the City Council will be required for a showing of good cause. Response: The plat and subdivision exemption agreement shall meet the timing requirements for recordation. f. In the case where an existing single-family dwelling occupies a site which is eligible for a lot split, the dwelling need not be demolished prior to application for a lot split. Response: Before development of Lot B, the applicant will be required to remove or deed restrict the two existing apartment units as "Accessory Dwelling Units." g. Maximum potential buildout for the two (2) parcels created by a lot split shall not exceed three (3) units, which may be composed of a duplex and a single-family home. Response: A total of two units will be created, plus the potential for "Accessory Dwelling Units." Section 26.88.030(A)(5), Historic Landmark Lot Split. The following standards must be met: a. The original parcel shall be a minimum of 9,000 square feet in size and be located in the R-6 zone district or a minimum of 13,000 square feet and be located in the R-15A zone district. Response: The parcel is 9,000 square feet and is located in the R-6 zone district. b. The total FAR for both residences shall not exceed the floor area allowed for a duplex on the original parcel. The total FAR for each lot shall be noted on the Subdivision Exemption Plat. Response: The duplex FAR which would have been allowed for one structure on the lathering parcel is 4,080 square feet. The applicant proposes to allocate 2,241 square feet to Lot B ("new house") and 2,339 square feet (1,839 square feet, plus a 500 square foot bonus from HPC) to Lot A ("historic house.") Each lot will be 4,500 square feet. These lot sizes and floor areas must be indicated on the plat. c. The proposed development meets all dimensional requirements 'of the underlying zone district. HPC variances and bonuses are only permitted on the parcel that contains a historic structure. Response: The applicant has received approval for a 500 square foot floor area bonus from HPC. The HPC has established certain criteria for when they would allow a bonus, and found the following, from Section 26.72.010.D.1, to be met. "The floor area bonus will only be awarded to projects which make an outstanding preservation effort, for instance by retaining historic outbuildings or by creating breezeway or connector elements between the historic resource and new construction. Lots which are larger than 9, 000 square feet and properties which receive approval for a Historic Zandrnark Zot Split may also be appropriate recipients of the bonus. No development application which includes a request for an FAR bonus may be submitted until the applicant has met with HPC in a workshop format to discuss the proposal, prior to design." The bonus is an incentive to create two detached houses, which in effect reduces the bulk of any addition made to the historic resource. The existing houses on what will be Lot A are approximately 2,329 square feet, so that the bonus allows the same floor area that is currently seen on that portion of the lot. (There are non-historic portions of the existing buildings which could appropriately be demolished and replaced.) Conceptual design review is scheduled at HPC on July 28, 1999, at which time they will review the renovation plans for the historic structure as well as any other setback variances that are requested to accommodate or help preserve the existing structure. HPC cannot grant any variances on Lot B. The applicant intends to apply to the Board of AdjusLrnent if variances are needed to avoid existing trees on the site. The City Forester has inspected the property and identified which trees may appropriately be removed and which must be preserved. Section 26.100.050(A)(2)(e), GMQS Exemption by the Community Development Director, Historic Landmark Lot Split. The construction of a new single-family dwelling on a lot created through a Historic Landmark Lot Split pursuant to Section 26.88.030(A)(5) shall be exempted from residential Growth Management allocations and shall not be deducted from the pool of annual development allotments or from the metro area development ceilings. Response: An exemption by the Community Development Director will be required. Section 26.72.010(G), Historic Landmark Lot Split, The development of all lots created pursuant to Section 26.88.030(A)(5) shall be reviewed by HPC at a public heating. Response: The lot split application is a noticed public hearing at both HPC and Council. RECOMMENDED MOTION: "I move to adopt Ordinance #27, Series of 1999." Exhibits: Ordinance #27, Series of 1999. A. Staff memo dated July 12, 1999. B. Application. ORDINANCE No. 27 (SERIES OF 1999) AN ORDINANCE OF THE ASPEN CITY COUNCIL GRANTING APPROVAL FOR A SUBDIVISION EXEMPTION FOR AN HISTORIC LANDMARK LOT SPLIT AT 121 N. FIFTH STREET, LOTS G, H, AND I, BLOCK 24, CITY AND TOWNSITE OF ASPEN WHEREAS, pursuant to Sections 26.88.030(A)(2) and (5) and 26.72.010(G) of the Municipal Code, an Historic Landmark Lot Split is a subdivision exemption subject to review and approval by City Council after obtaining a recommendation from the Historic Preservation Commission (hereinafter HPC); and WHEREAS, the applicant, Small and Large Fries, LLC, has requested to split the 9,000 square foot parcel to create two separate single-family residential lots of 4,500 square feet each; and WHEREAS, pursuant to Section 26.72.010(G) of the Municipal Code, the HPC reviewed the request for the historic lot split at a properly noticed public heating on June 23, 1999 and recommended approval; and WHEREAS, the Community Development Department has reviewed the application and recommended approval of the Historic Landmark Lot Split, with conditions; and WHEREAS, the Aspen City Council has reviewed and considered the subdivision exemption under the applicable provisions of Chapters 26.72, 26.88, and 26.100 of the Municipal Code as identified herein, has reviewed and considered those recommendations made by the Community Development Department, and the Historic Preservation Commission, and has taken and considered public comment at a public he~ying; and WHEREAS, the City Council finds that the Historic Landmark Lot Split, with conditions, meets or exceeds all applicable development standards of the above referenced Municipal Code sections; and WHEREAS, the City Council finds that this Ordinance furthers and is necessary for the public health, safety and welfare. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ASPEN, COLORADO, THAT: Section 1: Pursuant to Sections 26.88.030(A)(2) and (5), Section 26.100.050(A)(2)(e), and Section 26.72.010(G) of the Municipal Code, and subject to those conditions of approval as specified herein, the City Council finds as follows in regard to the subdivision exemption: I. The applicant's submission is complete and sufficient to afford review and evaluation for approval; and 2. The subdivision exemption is consistent with the purposes of subdivision as outlined in Section 26.88.010 oft he Municipal Code, which purposes include: assist in the orderly and efficient development of the City; ensure the proper distribution of development; encourage the well-planned subdivision of land by establishing standards for the design of a subdivision; improve land records and survey monuments by establishing standards for surveys and plats; coordinate the construction of public facilities with the need for public facilities; safeguard the interests of the public and the subdivider and provide consumer protection for the purchaser; and, promote the health, safety and general welfare of the residents of the City of Aspen. Section 2: Pursuant to the findings set forth in Section 1, above, the City Council does hereby grant an Historic Landmark Lot Split subdivision exemption for 121 N. Fifth Street with the following conditions: 1. A subdivision plat and subdivision exemption agreement shall be reviewed and approved by the Community Development and Engineering Departments and recorded in the office of the Pitkin County clerk and recorder within one hundred eighty (180) days of final approval by City Council. Failure to record the plat and subdivision exemption agreement within the specified time limit shall render the plat invalid and reconsideration of the plat by City Council will be required for a showing of good cause. As a minimum, the subdivision plat shall: a. Meet the req~iremems of Section 26.88.040(D)(1)(a) and (D)(2)(a) of the Aspen Municipal Code; b. Contain a plat note stating that development of Lot B shall be required to · mitigate for affordable housing pursuant to Section 26.100.050(A)(2)(c) of the Municipal Code; c. Contain a plat note Stating that the lots contained therein shall be prohibited from applying for further subdivision and any development of the lots will comply with the applicable provisions of the Land Use Code in effect at the time of application; d. The two lots created by this lot split shall have a total allowable base FAR, on both lots combined, equal to 4,580 square feet of floor area prior to consideration of potentially applicable lot area reductions (i.e., slopes, access easements, etc.). The applicant shall verify with the City Zoning Officer the total allowable FAR on each lot, taking into account any and all applicable lot area reductions. The property shall be subdivided into two parcels, Lots A and B, each 4,500 square feet in size. Provided it is found by the Zoning Officer that no lot area reductions are required, the maximurn allowable FAR on Lot A will be 2,339 s.f. (including a 500 square foot floor area bonus) and 2,241 square feet of floor area.on Lot B. The information verified by the City Zoning Officer shall be included on the plat, as a plat note; e. Contain a plat note slating that all new development on the lots will conform to the dimensional requirements of the R-6 zone district, except the variances approved by the HPC. f. That Lots A and B are designated historic landmarks and must receive HPC approval for all development in accordance with Section 26.72 of the Municipal Code, as well at Section 26.58, the "Residential Design Standards." 2. As a minimum, the subdivision exemption agreement shall include the elements outlined in Section 26.88.050 of the Aspen Municipal Code, and shall meet the recording and timing requirements described in Section 26.88.030(A)(2)(e). 3. Encroaehments - At the time of redevelopmerit, the encr0achments must be removed from the public righi-of-way, relocated, or licensed. 4. Sidewalk, Curb and Gutter - The site is located in the West End where sidewalks are excluded from being built at this time. However the "Pedestrian Walkway and Bikeway System Plan" does indicate that there should be pedestrian usable space off of the street surface. Therefore, the plat needs to indicate a five foot wide pedestrian usable space located 7.5' from the property line and with a five foot buffer for snow storage. Any curb and gutter sections in need of replacement must be replaced prior to issuance of a certificate of occupancy. The applicant needs to sign a sidewalk construction agreement, and pay recording fees, prior to issuance of a certificate of occupancy for new consreaction. 5. Site Drainage - The existing City storm drainage infrastructure system does not have additional capacity to convey increased storm runoff. The site development approvals must include the requirement of meeting runoff design standards of the Land Use Code at Sec. 26.88.040.C.4.f and a requirement that the building permit application include a drainage mitigation plan (24"x36" size plan sheet or on the lot grading plan) and a report signed and stamped by an engineer .registered in the State of Colorado, submitted as part of the building and site plan, as well as a temporary sediment conlxol and containment plan for the construction phase. If drywells are an acceptable solution for site drainage, a soils report must be provided with pemolation test to verify the feasibility of this type system. Drywells may not be placed within utility easements. The foundation drainage system should be separate from storm drainage, must be detained on site, and must be shown on drainage plans prior to permit drawings. These requirements must be met prior to acceptance of a building permit application. 6. Work in the Public Right-of-way - Given the continuous problems of unapproved work and development in public rights-of-way adjacent to private property, we advise the applicant as follows: The applicant must receive approval from city engineering (920-5080) for design of improvements, including landscaping, within public rights-of-way, parks department (920-5120) for vegetation species and for public trail disturbance, and streets department (920-5130) for mailboxes, street and alley cuts, and shall obtain permits for any work or development, including landscaping, within public rights- of-way from the city' community development department. 7. All material representations made by the applicant in this application and during public hearings with the HPC and City Council shall be adhered to and shall be considered conditions of approval, unless otherwise amended by HPC or City Council. 8. That the construction of a new single-family dwelling on Lot B created through this Historic Landmark Lot Split pursuant to section 26.88.030(A)(5) shall be exempted by the Community Development Director from residential Growth Management allocations and shall not be deducted from the pool of annual development allotments or from the metro area development ceilings, in accordance with Section 26.100.050(A)(2)(e). Seaion 3: If any section, subsection, sentence, clause, phrase or portion of this ordinance is for any reason held invalid or unconstitutional by any court of competent jurisdiction, such provision and such holding shall not affect the validity of the remaining portions thereof. Section 4: This Ordinance shall not affect any existing litigation and shall not operate as an abatement of any action or proceeding now pending under or by virtue of the ordinances repealed or amended as herein provided, and the same shall be conducted and concluded under such prior ordinances. Section 5: A public hearing on the Ordinance was held on the 12th day of July, 1999 at 5:00 P.M. in the City Council Chambers, Aspen City Hall, Aspen Colorado, fifteen (15) days prior to which hearing a public notice of the same was published once in a newspaper of general circulation within the City of Aspen. INTRODUCED, READ AND ORDERED PUBLISHED as provided by law; by the City Council of the City of Aspen on the 281h day of June, 1999. · Rachel E. Richards, Mayor ATTEST: Kathryn S. Koch, City Clerk APPROVED AS TO FORM: John Worcester, City Attorney FINALLY, adopted, passed and approved this 12th day of July, 1999. Rachel E. Richards, Mayor ATTEST: Kathryn S. Koch, City Clerk Attachment 8 County of Pitkin } AFFIDAVIT OF NOTICE PURSUANT } ss. TO ASPEN LAND USE REGULATIONS State of Colorado } SECTION 26.52.060(E) I, ~'RIv~/E e,~/V/f~t-~A~/3 ,beingorrepresentingan Applicant to the City of Aspen, personally certify that I have complied with the public notice requirements pursuant to Section 26.52.060(E) of the Aspen Municipal Code in the following manner: 1. By mailing of notiCe, a copy of which is attached hereto, by first-class postage prepaid U.S. Mail to all owners of property within three hundred (300) feet of the subject property, as indicated / s~t ,199 ~ (which is/2 days prior to the public on the attached list, on the - ay of '2T:J ) i . hearing date of _oTI a 2. By posting a sz~ in conspicuous place on the subject property (as it could be seen from the nearest public way) and that the said sign was posted and visible continuously from the / s---~ay WITNESS MY HAND AND OFFICIAL SEAL My Commission expires: NOTARY ~8UC-COLORADO LE BLANC SHERIE MATILDA LEVIN WILLIAM A REV LIVING TRUST MAC DONALD BETTE S TRUST 634 W MAIN ST #2 1 PENN PLZ STE 725 15 BLACKMER RD ASPEN CO 81611 NEWYORK NY 10119-0799 ENGLEWOOD CO 80110 NATIONWIDE THEATRES OLSHAN BURTON D 1/2 CORPORATION OLSHAN KATHLEEN W 1/2 PEARSON MARK M &LEES M A CALIFORNIA CORPORATION 5408 OLD LEEDS RD 702 W MAIN ST 120 N ROBERTSON BLVD BIRMINGHAM AL 35210 ASPEN CQ 81611 LOS ANGELES CA 90048 RANKIN CONSULTING LLC RUDOLPH RICHARD E THOMAS TODD M 336 VINE ST PO BOX 3080 605 W MAIN ST #00A ASPEN CO 81611 CAREFREE AZ 85377 ASPEN CO 81611 THROM ROBERT & PHYLISS 1/2 INT THROM DOUGLAS 1/2 INT TOMCICH WILLIAM VERLEGER MARGARET B & PHILIP K JR 617 WMAIN 8T PC BOX 1498 105 MATTIBON DR ASPEN CO 81611 ASPEN CO 81612-1498 CONCORD MA 01742-4138 VICENZI GEORGE VIEIRA LINDA 50% INTEREST PC BOX 2238 HALL TERESA 50% INTEREST VILLARI JOHN TRUST ASPEN CO 81612 605 W MAIN ST PC BOX 2941 ASPEN CO 81611 ASPEN CO 81612 WOOD HELENA C/O AMBIANCE LTD YOUNG DONALD L 1548 SLOCUM ST 617 W MAIN ST DALLAS TX 75207-3615 ASPEN CO 81611 PUBLIC NOTICE RE: 121 N. FIFTH STREET HISTORIC LANDMARK LOT SPLIT NOTICE IS HEREBY GIVEN that a public hearing will be held on Monday, July 12, 1999 at a meeting to begin at 5:00 p.m. before the Aspen City Council, City Council Chambers, City Hall, 130 S. Galena St., Aspen, to consider an application submitted by Small and Large Fries LLC requesfmg approval of a proposed Subdivision Exemption for an Historic Landmark Lot Split. The property is located at 121 N. FiRh Street, and is described Lots G, H, and I, Block 24, City and Townsite of Aspen. For further information, contact Amy Guthrie at the Aspen/Pitkin Community Development Department, 130 S. Galena St., Aspen, CO (970) 920-5096, amyg@ci.aspen.co.us. s/Rachel Richards, Mayor Aspen City Council Published in the Aspen Times on June 26, 1999 City of Aspen Account ATTACHMENT 1 LAND USE APPUCAT]ON FORM 1. Project name /2/ .f-r~, ..~}. 2. Project location S,-~. ~ X),l--~ C-~. (indi~te ~tmet address, lot and b~k number or metes and bounds description} 3. Present zoning '~-~ 4. Lot size t. ~ ~ · 6. Representative's 'name, address, and phone numbe~ ~,~: j,~, 7. Type of ~ppiicatjcn (check ai) that apply): ~/~ h/~ / Condit~ona) Use : Conceptual SPA /ConceptuaI HPC ~ ~c Special Review Final SPA .... Final HPC 8040 Greenline Conceptual PUD Minor HPC . / , + GMQS allotment . . GMQS exemption / , ' e Z Lot Spli~Lot Line · Appeal Cemmi~ee · · Adjustment 8. Description of existing uses (number and ~pe of existing structures, approximate sq. ft., number of bedrooms, any previous approvals granted to the 1 9. Description ofdevelopmentapplication/-~;~Y~,:c \).'L, Tkr,., Ly-- -3~'~ w,'~-r~"f;".,"' / 10. Have you completed and attached the following? Attachment 1- Land use application form Attachment 2- Dimensional requirements form Response to Attachment 3 Response to Attachments 4 and 5 ATTACHMENT 2 "' DIMENSIONAL REQUIREMENTS FORM Zone district: ~, - ~, Lot siza: <~c~ ~ Existing FAR: ,.;S~ ,~ Existing net leasable (commercial): N A Proposed net leasable (commercial): Existing % of site coverage: 19 ~ ,/t ~, ',t =t ~' ).-,, "~,' Proposed % of site coverage: Existing % of open space: h/.~ · Proposed % of open space: 7r/A Existing maximum height: Principal bldg:<:.,;.~ ~ . Accesory bldg: <',2,r Proposed max. height: Princi;al bldg: Accessory bidg: Existing number of bedrooms: Proposed number of bedrooms: Existing on-site parking spaces: On-site parking spaces required: ~/, / (',4..¢. ~. ) = f Setbacks - Existing: Minimum required: Proposed: Front: iY. -~1 Front: z~,' Front: o 'neE~ COmbined C mb~ Combined Fronthear:/L; ' Front/rear: ~" FrontLrear:, Combined Combined Combined Existing nonco formitiesor encroachmerits:/o;.~ ,~-.,¢-~-,"~-,,*--.~o.,' e;'~'~' / (HPC has the ability to vary t~e following requirements: setbacks, distance be en . two buildings; FAR bonus of up to 500 sq.ft., site coverage variance up to 5%, height variations under the cottage jnfil] program, parking waivers for residentia[ uses in the R- 6, R-15, RMF, CC, and Ozone districts) 121 North 5th Street/Fyrwald and Fries Following are our written description of this project and explanation Qf the wa~s it conforms to applicable review standards. SECTION 26.88,030(A)(2), Subdivision Exemptions, Lot Split a. The site is within the Odginal t0wnsite of Aspen. b. Two lots will be created. The new lot will mitigate for affordable housing by c~netructing an ADU. c. This parcel was not the subject cf any prior lot split exemption. d & e. A subdivision exemption plat will be filed per cede. f. N/A g, Maximum proposed build out is 2 single. family res dencos SECTION 26.88.030(a)(5), Historic Lot Split a. The original parcel is 9,000 sf and is located in the R6 zone. b. The allowable duplex FAR for the odginal parcel is 4,080 sf. This will be apportioned as fellows: 1,739 FAP, sf for the Easterly lot (Lot A) and 2,241 FARsf for the Westedy lot (Lot B). A 500 FARsf bonus is requested for Lot A for the enhanced preservation of the historical structure. c. The proposed development on Lot B meets all dimensional requirements of the R^ zone district. HPC bonus and variances for Lot A are outlined elsewhere within this application (please see proposed site plan) and application forms. SECT1ON 26.100.050(A)(2)(e) GMQS Exemption by the Community Development Director, Historic Landmark Lot Split. This development of a new single family residence on a lot created by a historic landmark lot split is exempt from GMQS pursuant to this section of the c~de. SECTION 26.72.010(G), Histodc Landmark Lot Split. This project will be reviewed by HPC at a public hearing. BLEEKER STREET B L 0 C "~ // , I .,,,.,..,,. ......... AlplnoSurvey~ n. en,d 4 aue. aoe~ ao,'ncr'mn~ MEMORANDUM TO: Mayor and City Council THRU: Amy Margerum, City Manager Julie Ann Woods, Community Development Director FROM: Christopher Bendon, PlannerC~ RE: Civic Center Master Plan -- Scoping DATE: July 13, 1999 SUMMARY: There have been individual discussions regarding the institutional uses in the dc,,~town area and the range of challenges these uses face. As many of the challenges overlap, there may exist a benefit in evaluating the opportunities available for these uses in an integrated manner - a master plan. This memo provides a general description of the objectives and necessary elements of a master plan for Aspen's civic core area. This is a project that was not identified on the Community Development work program, although there are "special project" hours available to initiate the project. This initial scoping is based on discussion with staff members from various departments of the City and County, the Library, and the Fire Department. During the discussions, the Parking Department indicated they have $25,000 available for planning associated with the parking garage. This could be used as "seed" money to initiate the master plan. A master planning process would take four to six months to accomplish and would benefit from a neutral (non-governmental) facilitator to ensure the unbiased involvement of both public and private entities. If City Council is interested in the Civic Center Master Plan, staff should be directed to return to Council with an appropriation request and a more fully developed scope of work. As an alternative, Council could direct staff to include this project on the year 2000 Community Development work program. PLAN OBJECTIVES: This Civic Center Master Plan concept originated from several sources. Ongoing discussions about the appropriateness of the Youth Center location and its proximity to the Commemial Core area, service needs of the Fire Department and recommendations from the Community Plan groups regarding a new location on Main Street, continual maintenance expenditures for the parking garage, space needs for community gatherings and City and County offices, the possible opportunities to 1 accommodate affordable housing, and the under-utilization of the Library Plaza. The extent to which these issues are inter-related indicates the usefulness of a master plan approach. Generally, a Civic Center Master Plan could assess and plan for the facility needs of government to ensure efficient use of resources, safe provision of emergency services, and elim'mate excessive maintenance expenditures. An assessment of the funding, programming, and location issues of the Youth Center, the possibilities of providing additional affordable housing near the town's core, and opportunities to enliven the Library Plaza could also contribute to a "vision" 0fthis central area of Aspen. AREA OF INFLUENCE: Attached to this memo is a map generally showing the area of influence. A master planning effort would need to concentrate on the civic core area and publicly-owned properties - the Library, Plaza, Courthouse, City Hall, and the Fire House. The plan, however, could include peripheral areas such as the Sanitation District property, Mill Street, connections such as the public trail system, and privately-owned properties within the general area. ISSUES AND STAKEHOLDERS: Plaza Design and Utilization. The public plaza east of the Public Library does not attract much pedestrian activity and has not been successful in attracting groups looking for outdoor event spaces. The Plaza is of generally good design but there is a lack of ambient activity. In other words, "people-watching" is not very good if there are no people to watch. The plaza has been offered - at no charge - for special events such as the Farmers Market and the Food and Wine Classic with essentially no interest. Furthermore, this plaza requires a high level of maintenance by the Parks Department - disproportionate with the amount of activity it sustains. The plaza has many elements in its favor such as its proximity to downtown and good solar access. The space could benefit greatly with a more active use to draw pedestrian activity. One of the goals of a master planning process would be to identify ways to enliven this space. City & County Offices. Both the City and the County report the need for additional space for either general department needs or more task-related needs, such as meeting rooms or storage. In addition, there are adjacency needs of some departments to operate efficiently. For example, the City Police and County Sheriff s Departments have both insufficient space and a need to remain co-located for the most efficient use of resources. If a planning process is initiated, an inventory and analysis of government space should be performed with conclusions regarding the most efficient way to either re- allocate space or to provide additional facilities. This needs assessment would need · to be performed in an early phase of the process. 2 Fire Department The Fire Department is located in the heart of the Commercial Core on a busy street with significant pedestrian activity. This is a highly hazardous location for the department and apotential for accidents. On the other hand, a significant portion of the Fire Department's emergency calls are for locations in the Commercial Core, or surrounding core areas, and there exists a need for the deparmaent to remain centrally located. In addition, the Community Development Department feels it necessary for the Fire Department to remain centraily located as it is a traditional civic use and contributes to the character of the permanent community. Another concern regarding the Fire Department is the adequate space for apparatus and sufficient training facilities and housing opportunities for personnel. Consistent With many area employers, the Fire Department views housing opportunities for their personnel as an ongoing operational concern critical to the Department's long-term viability. (Please refer to attached memo from the Fire Chief.) A location on Main Street in proximity to the Commercial Core could address the existing safety issues, provide the additional space requirements to accommodate apparatus and include the ambulance service (currently located at the hospital), provide an adequate number of parking spaces for fire fighters, and maintain and possibly improve response times with immediate access to Highway 82. Additionally, reloeating the Fire House would create a downtown in-fill development opportunity for a mixed-use building. This parcel could be used as a pilot project for other downtown development opportunities. Library. The Public Library was specifically planned and des!gned to expand commensurate with the community's needs. The library retains an easement on a portion of the plaza for this anticipated expansion and expects the needs to warrant an expansion in approximately 13 years. Library buildings require additional structural Capacity than do other uses. Specifically, a live load of 150 lbs./sq.ft. The additional structural capacity of the garage, expressed as 7,000 square feet of building, assumes normal structural constraints. In other words, less than 7,000 square feet of library space could be accommodated on the plaza without structural reinforcement. Historic Preservation. Within the Civic Core area are the "Conner Cabins," the "Zupancis Buildings" (located east of the Jail), and several landmark structures. The Conner Cabins do have substantial development opportunities as the underlying zoning, Commercial Core, is the most intense within the City. Both the Cormer Cabins and the Zupancis Buildings are in relatively undisturbed condition and visually contribute to the City's heritage. Important to the Historic Preservation Program would be the inclusion of these properties in a master planning effort and identification of any adaptive re-use opportunities to ensure their continued existence. 3 Parking and Transportation Departments. In October 1997 the Rio Grande Parking Facility underwent an extensive structural evaluation by Walker Parking Consultant/Engineers, Inc., with the following findings concerning the plaza level. · The paver and mortar finish of the plaza level is failing to prevent the penetration of moisture seeping into the parking facility. · The waterproofing membrane on the plaza level is in need of replacement · The current drainage system is inadequate for the size of the plaza level ' · The traffic coating membrane of the exposed parking stalls needs to be replaced approximately every two years. Currently, the landscaped area closest to the library improperly drains into the electrical room of the park'rag garage. The current layer of pavers on the plaza level are intended to protect the integrity of the entire parking structure but are inadequate considering Aspen's extreme freeze and thaw cycles. In addition, the uncovered portion of the garage must be resealed every year to prevent substantial damage to the concrete deck. Combined, this results in a high maintenance costs to the City - between $20,000 and $150,000 on an annual basis. In order to replace the waterproofing membrane on the plaza level and re-build a stamped concrete surface, all materials must be removed including pavers, mortar, planters, sod, and a portion of the Galena St. turnaround at an estimated cost in excess ' of $1,000,000 in "1998" dollars. Resolving the drainage issues could be combined with covering the open spaces on the north side of the upper deck. Structurally, the garage was built with extra capacity to accommodate a building roughly 7,000 square feet in size, meaning the maintenance issue could be solved while accommodating other needs for office, gathering space, the youth center, and/or affordable housing. Beyond the pre- determined 7,000 square foot capacity, a structural report would need t0 be performed for the garage structure. Affordable Housing In the past few years, affordable housing has come to the fore-~ont as an operational concern for area businesses. The ability to attract and retain quality employees who desire reasonable housing is likewise a concern to City and County Departments. To satis~ some of the maintenance concerns of the parking garage and personnel issues related to affordable housing, a concept of covering the open parking stalls (those on the north side of the upper deck) with affordable housing is a possibility. The public parking lots north of the parking garage and the Community Banks building on Mill Street could accommodate some affordable housing. Additionally, privately owned parcels within the study area might be appropriate for additional affordable housing under a public-private partnership program. 4 If a master planning process is initiated, an analysis of the opportunities for affordable housing should be a primary element. ParIts. The Rio Grande Park is essentially in the center of the possible master planning area. The park recently underwent a complete make-over and several uses are accommodated in this location. There may be, however, additional uses that could be accommodated, such as a skateboard park, and current uses which may benefit from a · new location, such as the recycling center. Although Rio Grande Park is encumbered with railroad fights which limit uses, the park should be an element of the master planning process as it relates to the remainder of the surrounding public lands and connections to the public trail system. Aspen Chamber Resort Association (A CRA). The ACRA offices are currently located in the parking garage building. However, there may be an interest in identifying a location with more exposure. This quasi- public entity should be part of any civic master planning process both due to their location and due to their involvement in community affairs. Youth Center. There have been ungoing public discussions about the programming and operational funding needs of the Youth Center. Several of these discussions have included the topic of re-locating the center to the golf course, Iselin Park, or the school campus. Space leased by other entities within the Youth Center building help subsidize the center, but reduce the amount of useful area for the center to provide youth programs. If a master planning process is initiated, the Youth Center should be included in the needs assessment. The Community Development Department continues to prefer the current location of the Youth Center, over other areas mentioned, due tO it central, convenient location and proximity to numerous supporting uses and activities for youth. However, the programming and operating expense concerns should be a primary focus for the institution to remain viable. The Youth Center staff should be involved and oppommities for the current building should be an element of any master plan for this area. Galena S~ Shuttle.. The Galena Street Shuttle currently provides service through the study area along the alleyway from Mill Street to the Galenam-around. A master planning effort should include the service needs for the shuttle and any consideration of a future trolley system. Art Museum. The Aspen An Museum occupies the former water plant building north of Rio Grande Park. This is a City-owned building leased to the museum operator. The five-year lease is set to expire soon although the museum staff has expressed their intention to 5 re-sign their lease. A master planning process should include this property and provide a long-term vision for its use and role in the community. POTENTIAL FUNDING SOURCES: The Community Development work program does not include the Civic Center Master Plan as a project. There are, however, hours specified in the program for "unidentified" projects as requested during the year. This master planning effort, if initiated, should be managed through the Community Development Department. The Parking Department does have some monies, approximately $25,000, that could be devoted to this master planning project. They also have the most impending need to solve their ongoing maintenance expenditures. PROCESS: Initial discussion concerning the process for a master plan to be developed has indicated that there could be a core group of representatives from the respective departments, property owners wiuttin the study area, and representatives from elected and appointed Boards. An effective elemem of the DEPP process - public workshops - could be useful for this project. Also, it may be necessary to use the services of an outside (non-governmental) facilitator to ensure all public and private concerns are addressed equally. It is important for the process to concentrate on a product and not the process itself. A four to six month master planning process should be sufficient to achieve a viable master plan that creates a "vision" for the civic center area. A shorter process may not adequately address all of the issues. A longer process may disenfranchise some interest groups and concentrate too heavily on minor details more appropriate for actual developmere applications. Prior to initiating a group process, an inventory of resources, a needs assessment, and a financial evaluation would need to be accomplished to provide adequate background information for decision making. ATTACHMENTS: Exhibit A -- Civic Center Area Map Exhibit B -- Fire Department Memo Exhibit C -- Parking Department Memo with Plaza Map 6 Aspen Fire Protection District 420 E. Hopkins Ave. Aspen, Colorado 81611 970-925-5532 Chris Bendun AsperFPitkin Community Development Dear Chris: Subject: "Civic Center" Master Planning In response to Julie Ann's request for a "paragraph" regarding the Aspen Fire Protection District's vision of our future station needs in the City, Eve drafted the following: The future Headquarters Station of the Aspen Fire Protection District in the City of Aspen should be located to ensure the continued safe and timely delivery of adequate personnel and apparatus resources for effective emergency services. This translates into a location proximate tO the core area of town, with excellent access to Main Street. We envision our new facility incorporating underground parking, an apparatus and equipment floor at ground level, approximately twice the size of our current facility (probably including a first-due ambulance); office complex, ready room, storage, and training facilities on the second floor; and a firefighter/EMT residence program on the third floor. We look fortyard to working with you in developing the kind of fire department facility this community needs and deserves. Thank you, Fire Chief civic center 062199 RIO GRANDE PARKING PLAZA In October 1997 the Rio Grade Parking Facility underwent an extensive structural evaluation by Walker Parking Consultant/Engineers, Inc., with the following findings concerning the plaza level. · The paver and mortar finish of the plaza level is failing to prevent the penetration of moisture seeping into the parking facility. · The waterproofing membrane on the plaza level is in need of replacement · The current drainage system is inadequate for the size of the plaza level · The traffic coating membrane of the exposed parking stalls needs to be replaced approximately every two years. In order to replace the waterproofing membrane on the plaza level all materials that are currently in place must be removed including pavers, mortar, planters, sod, and a portion of the Galena St. turnaround. The estimated cost for this project is in excess of $1,000,000 in "1998" dollars. Walker Parking Consultants concluded that after the waterproofing membrane was replaced that stamped concrete would be a much better alternative than reinstailing the pavers that currently make the largest portion of the plaza level. The paver and mortar layer are inadequate for the extreme freeze and thaw cycles that Aspen experiences during the winter months. For these reasons the plaza level has become an area of high maintenance that costs the City of Aspen anywhere between $20,000 and $150,000 on an annual basis to make necessary repairs in order to maintain the integrity of the parking structure. Currently the plaza level is underutilized. We have offered the use of the plaza level for special events such as the farmers market and registration for the .food and wine classic with no one wanting to use this area. We are investigating the possibility of replacing the current materials on the plaza level with affordable housing or lease space that extends over the open parking stalls in order to utilize space that is not currently used to its full potential and to permanently eliminate problem maintenance areas. It has been determined that the plaza level can support a single level structure Of approximately 7000 square feet. Further structural analysis would be needed to determine the full potential of the plaza level. Memorandum TO: Mayor and City Council Meml?ers . FROM: DATE: July 7, 1999 Reference: Addition to alley pavement behind 933 E. Durant residence SUMMARY: The above referenced homeowner wishes to extend the existing alley pavement behind his house along his property. The applicant has petitioned the adjacent property owners and alley neighborhood, and the owners who reside in Aspen have signed the petition in favor of paving. DISCUSSION: The addition of pavement will be done in accordance with acceptable construction practices, and the construction work will be performed by a local asphalt paving company. The cost of improvements will be borne by the applicant and the neighbors who are willing to share. The surrounding alleys are paved with asphalt and the subject alley is partially paved. I would like to move forward with granting the applicant a right-of-way permit to allow his contractor to install the pavement if the City Council has no, objection. FINANCIAL IMPLICATION: This project has no financial impact on the 1999 Asset Management Plan and no funds are requested. CITY MANAGER COMMENTS: PC: Ed Sadler, Asset Manager ROW File yes ~/~ 6 6~fe~ Z~f~ ~'~t' yes y ~ ~ ~ " ~ ,c~ ~T · Ju'l-O2-g9 O8:33A ELAN-ASPEN 970 923 2920 P.OZ Proposal .~ ~~ 7911 UpperRiverRoedeP. O. Box13 Woody Creak, C01orldo 81656-0013 ~ -~ ~nac, n ~f (970} 923-239g · F~: (gT0) ~3.2920 PROPOSAL SUBMI~ED TO: P~ne; 544-6541 1°=~: 0~-02-99 ~b Name I ALL~ PAVING PHIL SCR~GER 933 E. 933 E. ~ ASPE~ ASPEN, CO 81611 Archltl~: ~Dlte of Plans: We here~y propose; 1. Prep existing surface for placement of base course, includes removal of gravel. 2. Furnish and place (3) inches of class 6 roadbase as needed to achieve compaction and drainage over the entire allay. 3. Place a soil sterilant over the base course to prevent the growth o£ weeds. 4. Furnish and place (3) inches of asphalt pavingto cover an area 0 approx. 650. SF. PRICE: 6500 SF x $2.00/SF= $13,000.00 NOTE: Owners are responsible for getting approval and permits from the City of Aspen. A~of tM ab=vs work t~ be completed in a oubsm.tlal an~l,wor~msnliko manner for tM sum of AS STATED ABO~ t~mORTA~: The te~ an~ conditions stlts~ binding contracl unwell an~ until the Amptan~ el Prop~a~ an~ Oon~tion by CoYrear on t~'renrse side hove ~sn sxecute~. T~is propos~ mu~ ~ accepted as pmv~ ~ ~erivers~ ffi E/ffi Conllru~ion, 1~.. 3 O gays from ~vs i, ~ It shall e~Jre, · Else Constructlore ~c, Ihal~ not be Rss~lly subml~ bound heroin t8 commence work E~M ~NSTRUOTION, INC. until the owner provides ntlsfacto~ evidence =f ariaquite financing. by