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HomeMy WebLinkAboutresolution.apz.004-81 RESOLUTION OF THE ASPEN PLANNING AND ZONING COMMISSION RECOMMENDING AMENDMENTS TO SECTIONS 20-23 ~NO 20-14 OF THE CODE OF TUE CITY OF ASPEN Resolution No. 81 - 4 WHEREAS, the Aspen City Council, at a meeting on January 12, 1981, did express certainconce~nsabout the language regarding the upgrading of lodges which are to be condominiumized, as contained in Section 20-23 of the Code, and WHEREAS, the Aspen City Council did direct the Planning Office to develop amendments to Section 20-23 of the Code, "Condominiumization of Lodges" and did request that the Aspen Planning and Zoning Commission consider said amend- ments, and WHEREAS, the Aspen Planning and Zoning Commission did consider the amend- ments to Section 20-23 of the Code at meetings of March 3 and 17, 1981, and did recommend certain changes to the language of said amendments. NOW, THEREFORE, BE IT RESOLVED by the Planning apd Zoning Commission of the City of Aspen, Colorado, that the following changes in language are recommended to be made to Section 20-23 of the Code, "Condominiumization of Lodges": 1. /__~o be added to Section 20-23(A)(6)(b)_~ NOTE: The underlined portion represents the new language. (b) The applicant demonstrates in the sole judgment and discretion of the City Council that funds previously expended by the applicant have upgraded the lodge to a high enough quality so as to make further upgrading unnecessary as a condition to condominiumization and that the upgrading done previous to the condominiumization will allow the condominiumized lodge to continue to accommodate its clientele in a manner consistent with or better in quality than the accommodation provided previous to condominiumization, said information bein§ presented in the form of an affidavit itemizin9 the expenses incurred durin~ the previous 24 months and documentin~ that the expenditures have resulted in an actual up~radin9 of the structure) the appearance of the lodge, and/or its 9uest facilities; or the applicant presents to the City Council a plan for upgrading the lodge in phases and the plan is approved by the City Council and implemented in accordance with their approval . . . e ~o be added as a new Section 20-23(A)(6)(c~_~ (c) In order to assure that the physical upgrading of the lodge facility required by this Section is accomplished, the applicant shall execute a promissory note payable to the City secured by a trust deed encumbering the lodge property. The promissory note shall be in the amount required to be expended to physically upgrade the lodge facility as determined in accordance with the provisions of subparagraph (a) supra. The promissory note shall be payable by the applicant making the required improvements to the property which improvements will be described in the note. The terms of the non-negotiable note shall provide for no regular interest, and default interest at a rate of two points above the prime rate charged on the date of default by the Chase Manhattan Bank of New York. No provision of this note shall require the payment or permit the collection of interest in excess of the maximum permitted by law, and in the event of any such excess, neither the applicant nor his successors or assigns shall be obligated to pay any such excess to the extent that it is more than the amount permitted by law. The terms of the note shall also allow the City to declare a default and foreclose on the trust deed securing the note in the event applicant does not make the improvements within the time periods provided in sub- paragraph (a) supra. Any sums collected on the note other than foreclosure costs and reasonable attorney's fees shall thereupon be utilized to physically upgrade the lodge facility as per applicant's plans provided for in subparagraph (a) supra. The trust deed shall contain a partial release of up to twenty percent (20%) of the lodge units at the time the applicant so requests. At the option of the applicant the trust deed may be subordinated to any instrument intended to secure the payment of a loan the proceeds of which are required to upgrade the lodge facility, but only to the extent that the total sum of all obliga- tions secured by encumbrances upon the lodge property and the amount of the promissory note required hereunder does not exceed the fair market value of the lodge property and its improvements at the time the application is approved. The applicant shall have the right to propose an alternative method assuring the physical upgrade will be accomplished and the City Council, in its sole judgment and discretion, may accept any such alternative means in lieu of the above described note and trust deed. 3. ~o be added as a new Section 20-23(a)(7)_~ (7) The lodge condominium map shall contain certificates showing approval of the map by the City Engineer, City Attorney, the City Planning Office, the City Planning and Zoning Commission and the City Council. AND, THEREFORE, BE IT FURTHER RESOLVED by the Planning and Zoning Commission of the City of Aspen, Colorado, that the following changes in language are recommended to be made to Section 20-14 of the Code, "Final Plat -- Procedure." /_~o be added as a new sentence to Section 20-14(e)_~ The ninety (90) day recordation requirement contained herein shall nog apply to the recording of condominium maps, declarations or any other documents required to be recorded to accomplish a condo- miniumization in the City of Aspen. Approved by the Aspen Planning and Zoning Commission at its regular meeting on March 17, 1981. ASPEN PLANNING AND ZONING COr~qISSION By: W~ltcn ~nde~irman ATTEST: Deputy City'Clerk