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RESOLUTION NO. ~
(Series of 1991)
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ASPEN, COLORADO,
APPROVING HOUSING MITIGATION IN THE FORM OF DEED RESTRICTIONS FOR
NEW HOUSING AND A CASH-IN-LIEU PAYMENT FOR THE 1990
GMP APPLICATION FOR THE PITKIN COUNTY BANK ADDITION AT 534 E.
HYMAN (LOT 4, PITKIN CENTER SUBDIVISION)
WHEREAS, on December 17, 1990, the City council of the City
of Aspen awarded commercial/office development allotments for
1990 pursuant to Resolution No. 58 (Series 1990) under the growth
management quota system as set forth in Article 8 of Chapter 24
of the Municipal Code; and
WHEREAS, the development project known as Pitkin County Bank
Addition was awarded 1990 commercial/office development
allotments; and
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WHEREAS, the City Council initially rejected cash-in-lieu as
the affordable housing mitigation proposal as offered by the
Pitkin County Bank and provided direction as to the preferred
methods of mitigation as authorized under Section 8-109 (J) of
Chapter 24 of the Municipal Code; and
WHEREAS, the development for the Pitkin County Bank Addition
must mitigate for 4.7 employees; and
WHEREAS, the Pitkin County Bank has requested that the City
Council approve an affordable housing mitigation method by which
it shall deed restrict one (1) three-bedroom unit of
approximately 1,400 square feet to be owned by and constructed at
the Messiah Lutheran Church, 1235 Mountain View Drive (Parcel
"A", Block II, West Meadows Subdivision); and
~ WHEREAS, the Pitkin County Bank will work with the Housing
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Authority to determine the income category to which the unit will
be deed restricted, anticipating that the deed restriction will
reflect the Church's salary level for the eligibility of its
current and future employees; and
WHEREAS, the proposed deed restricted unit will provide
housing for three (3) employees; and
WHEREAS, the Pitkin County Bank will mitigate for the
remaining 1.7 employees by a cash-in-lieu payment of $59,500.00,
or $35,000.00 per employee at the low income category; and
WHEREAS, the Bank commits to obtaining all appropriate
municipal approvals, including Conditional Use approval for
construction of the unit on the Church's property; and
WHEREAS, during the Conditional Use process, the Bank will
seek to increase the unit to four (4) bedrooms, thus housing 3.5
employees, reducing the cash-in-lieu obligation for the remaining
1.2 employees to $42,000.00 or $35,000.00 per employee at the low
income category; and
WHEREAS, the city Council has determined the Pitkin County
Bank's housing mitigation proposal to be fair and equitable and
consistent with the mitigation requirements contained in section
8-109 of Chapter 24 of the Municipal Code.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF ASPEN, COLORADO THAT: In accordance with Section
8-109(J) of the Land Use Code, city Council does hereby accept
the employee housing mitigation plan for 4.7 employees as
required by the Pitkin County Bank Addition to be a deed
restricted unit to be constructed at the Messiah Lutheran Church,
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with cash-in-lieu payment for the remainder of the employees at
the low-income category amount, with the following conditions:
1) The Pitkin County Bank must obtain Conditional Use Approval
from the Aspen Planning and Zoning Commission for the addition of
the employee housing unit at the Messiah Lutheran Church.
2) If a three (3) bedroom deed restricted unit is approved, the
cash-in-lieu payment for the remaining 1.7 employees is
$59,500.00 (low income category). If a four (4) bedroom unit is
approved, the payment shall be $42,000.00.
3) Payment must be mad03 to the City of Aspen at the Finance
Director's Office prior to the issuance of any building permits
for the Bank addition. Receipt of payment shall be forwarded to
the Housing Authority and the Planning Office.
4) The Church, as owner of the unit, shall execute a deed
restriction in a form satisfactory to the city Attorney and the
Aspen/Pitkin county Housing Authority.
Proof of recordation of
the restriction with the Pitkin County Clerk and Recorder shall
be forwarded to the Housing Authority and the Planning Office
prior to issuance of any building permits for the housing unit
and Bank addition.
Dated:
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William L. stirling, Maya4r
I, Kathryn S. Koch, duly appointed and acting City Clerk do
certify that the foregoing ~s a true and accurate copy of that
resolution adopted by the City Council of the City of Aspen,
Colorado at a meeting held ~ ~~ , 199~.
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~......, L._ ) ;lhn~
:a~~h, city Clerk
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