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Home My WebLink AboutLand Use Case.118 E Cooper Ave.A060-03$ .'.-I--~~ --~ Little Red Ski Haus Frant 118 E Cooper 11 \0 --273512471005 Case A060-03 - f 7. 11. , ~>- -.Â«'Â·, 4,â€¢â€¢â€¢ Â·Â·-r. 1 - - ---....-. -- ..___.--A-â€¢UJ////////LIXJN//~////~9///~5/1WN-22:~ 146.r .,14;MNLLLBLq&),-. LJ ... 11~ . '14 - 1 - --4 21 .kÂ· 4 2 gdp >C FP -#/1 1 4" 1 4 4. r 1 j External Media Located Here M-007778 ~ lt,Welt ':1!kp/1 RMMI -FIL.2-132=*I PARCEL ID:~2735-12-4-71-005 DATE RCVD: 10/01/03 # COPIES: CASE NO~A060-03 CASE NAME:~ Little Red Ski Haus PLNR:| \ PROJ ADDR:|118 E Cooper ' CASE TYP~Final PUD/Fractional Ownership Dev ' STEPS:~ â€¢â€¢Ir OWN/APP: Little Red Ski Haus ADR~118 E Cooper Ave C/S/Z: ~Aspen/CO/81611 PHN:~970-925-3333 REP:~Michael P. Franzmann, Esq.' ADR:~400 Inverness Pkwy St C/S/Z: ~Englewood/CO/8011 PHN:~720-266-1040 FEES DUE:~$180.00 Housing FEES RCVD:~2585.00 Rcpt 10001 STAT: F REFERRALS~ REF:~ BY~D Driscoll DUE:~ MTG DATE REV BODY PH NOTICED . ~ "~ DATE OF FINAL ACTION:~ CITY COUNCIL:1 REMARKS~ PZ: BOA: CLOSED:~ BY: ~ DRAC: PLAT SUBMITD: ~ PLAT (BK,PG):| ADMIN: A41; ative-:,ht''i T :~ 2:.: h . '.L Â· Â· t* DEVELOPMENT ORDER ofthe City of Aspen Community Development Department This Development Order, hereinafter "Order", is hereby issued pursuant to Section 26.304.070, "Development Orders", and Section 26.308.010, "Vested Property Rights", of the City of Aspen Municipal Code. This Order allows development of a site specific development plan pursuant to the provisions of the land use approvals, described herein. The effective date of this Order shall also be the initiation date of a three-year vested property right. The vested property right shall expire on the day after the third anniversary of the effective date of this Order, unless a building permit is approved pursuant to Section 26.304.075, or unless an exemption, extension, reinstatement, or a revocation is issued by City Council pursuant to Section 26.308.010. After Expiration of vested property rights, this Order shall remain in full force and effect, excluding any growth management allotments granted pursuant to Section 26.470, but shall be subject to any amendments to the Land Use Code adopted since the effective date of this Order. This Development Order is associated with the property noted below for the site specific development plan as described below. Little Red Ski Haus LLC., PO Box 8288 Aspen. CO 81612 Property Owner's Name, Mailing Address and telephone number Lot O, and the west half of Lot P, Block 69, City and Townsite of Aspen Legal Description and Street Address of Subject Property Approval of a PUD Amendment, Subdivision. and Timeshare request to convert the property to a timeshare lodge Written Description of the Site Specific Plan and/or Attachment Describing Plan City Council Ordinance No. 61, Series of 2003, 12/15/03 Land Use Approval(s) Received and Dates (Attach Final Ordinances or Resolutions) December 27,2003 Effective Date of Development Order (Same as date of publication of notice of *proval.) December 28,2006 Expiration Date of Development Order (The extension, reinstatement, exemption from expiration and revocation may be pursued in accordance with Section 26.308.010 of the City of Aspen Municipal Code.) th Issued this 27 day of December, 2003, by the City of Aspen Community Del,~elopment Director. ~*ie Ann Woods, Community Development Director U PUBLIC NOTICE Of DEVELOPMENT APPROVAL Notice is hereby given to the general public of the approval of a site specific development plan, and the creation of a vested property right pursuant to the Land Use Code of the City of Aspen and Title 24, Article 68, Colorado Revised Statutes, pertaining to the following described property: Lot O and the west half of Lot P, Block 69, City and Townsite of Aspen, by ordinance of the Aspen City Council numbered 61, Series of 2003. The approval was for a PUD amendment, subdivision, and timeshare request to convert the Little Red Ski Haus into a timeshare lodge. For further information contact Julie Ann Woods, at the City of Aspen Community Development Dept. 130 S. Galena St, Aspen, Colorado (970) 920-5090. s/ City of Aspen Publish in The Aspen Times on December 27,2003 1 4' 27 1111111' lili 111 1111-Illili 111 lilli 111 -1 Pace: 1 of 5 12/19/2003 09:42A S--VIA DAVIS FI-KIN COL..TY CO R 26.00 D 0.00 ORDINANCE N0. 61 (SERIES OF 2003) AN ORDINANCE OF THE ASPEN CITY COUNCIL APPROVING THE LITTLE RED SKI HAUS PLANNED UNIT DEVELOPMENT AMENDMENT, SUBDIVISION, AND TIMESHARE APPLICATION ON THE PROPERTY DESCRIBED AS LOT O AND THE WEST HALF OF LOT P, BLOCK 69, CITY AND TOWNSITE OF ASPEN, PITKIN COUNTY, COLORADO Parcel ID: 2735-124-71-005 WHEREAS, the Community Development Department received an application from Little Red Ski Haus LLC, owner, represented by Gouger & Franzmann, LLC, requesting approval of a Planned Unit Development Amendment, Subdivision, and Timeshare to convert the existing Little Red Ski Haus Lodge to a timeshare lodge on the property described as Lot O and the West one-half of Lot P, Block 69, City and Townsite o f Aspen; and, WHEREAS, the subject property is located in the Residential Multi-Family (R/MF) Zone District with a Lodge Preservation (LP) and PUD Overlay; and, WHEREAS, pursuant to Land Use Code Section 26.304.060(B), Combined Reviews, the Community Development Director in consultation with the applicant has concluded that a combined review of the land use requests associated with this application would reduce duplication and ensure economy of time, expense, and clarity; and, WHEREAS, pursuant to Land Use Code Section 26.445, Planned Unit Development; Section 26.480, Subdivision; and, Section 26.590, Timeshare, the City Council may approve, approve with conditions, or deny the land use requests made by the Applicant during a duly noticed public hearing after taking and considering comments from the general public, and recommendations from the Planning and Zoning Commission, Community Development Director, and relevant referral agencies; and, WHEREAS, upon review of the application and the applicable code standards, the Community Development Department recommended approval of the proposed PUD amendment, subdivision, and timeshare requests, with conditions; and, WHEREAS, during a duly noticed public hearing on November 4, 2003, the Planning and Zoning Commission approved Resolution No. 26, Series of 2003, by a seven to zero (7-0) vote, recommending that City Council approve the requested PUD amendment, subdivision, and timeshare request; and, WHEREAS, the Aspen City Council has reviewed and considered the development proposal under the applicable provisions of the Municipal Code as identified herein, has reviewed and considered the recommendation of the Planning and Zoning Commission, the Community Development Director, the applicable referral agencies, and has taken and considered public comment at a public hearing; and, 1111111 lilli-lilli |~ i~~ ~~~~~ ~ 1~| ~| ~F6220T 5 111 III 1 11 - '.,4 , I M lilli dll 1| 12/19/2003 09 42A SI_VIA DAVIS FI-KIA COUNTY CO R 26.00 D 0.00 WHEREAS, the City Council finds that the development proposal meets or exceeds all applicable development standards and that the approval of the development proposal, with conditions, is 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 the promotion of public health, safety, and welfare. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ASPEN, COLORADO TIIAT: Section 1: Pursuant to the procedures and standards set forth in City of Aspen Land Use Code Section 26.445, Planned Unit Development; Section 26.480, Subdivision; and Section 26.590, Timeshare, City Council hereby approves a PUD Amendment, Subdivision, and Timeshare request to allow for the Little Red Ski Haus Lodge located at 118 E. Cooper Avenue to convert to a timeshare lodge, with the following conditions: 1. The approved fractional interest breakdown is as follows: Number of Units Description Number of Fractional Number of Weeks Ownership Interests Allocated to Each Available per Unit Fractional Ownership Interest 1 Luxury Suite 16 3 Weeks (Consisting of 2 of the existing lodge rooms) 3 Executive/Family 16 3 Weeks 3 Historic King 16 3 Weeks 3 Standard King 16 3 Weeks 2 Bunk Rooms 16 3 Weeks 2. The Applicant shall cooperate with the City by providing a list o f owners names and addresses to help the City conduct future audits through owner surveys in an effort to determine ifthe projected indirect sales tax figures are accurate. 3. Final Condominium Declarations shall be submitted to the City concurrent with the submission of the Condominium Subdivision Plat and shall include the following language regarding timeshare: a. Timeshare estates, including the four (4) weeks per unit that are to be retained by the Applicant, shall be made available for short- term rental when the estate is not in use by the owner of the unit, the owner's guests, or persons occupying the unit under an exchange program. Units that are available for rental shall be listed at competitive rates in a central reservation system. 12/19/2003 09:42A SILLIA CALIS FI-KItÂ·. COLNE? CO R 26,00 D 0.00 b. The covenants of the homeowners association shall permit walk- in rental o f units. The association shall not limit rental of units to such arrangements as only weekly rentals or Saturday-to- Saturday rentals; instead the association shall permit shorter stays, split-week rentals, and similar flexible arrangements. c. Owners of timeshare estates shall be provided, at closing, with a five (5) year schedule that will be updated on a periodic rolling basis. An owner of a timeshare estate shall required to provide a notice of no less than a full month (30 days) of their intent not to use a specific week. d. The owner of a timeshare estate shall not be permitted to occupy that estate for any period in excess of thirty (30) consecutive calendar days. e. The owner of a timeshare estate shall be prohibited from storing a vehicle in a parking space on-site when that owner is not using the estate. 4. The Applicant shall submit all timeshare documents and disclosure statements to the City Attorney for review prior to their recordation at the Pitkin County Clerk and Recorder's Office. 5. Each owner of an estate shall have an undivided interest in the common recreational areas within the facility. 6. The timeshare lodge units that remain in the developer's inventory shall be made available for rental to the public while the estates are being sold, except for models and other units that are needed for marketing or promotional purposes. 7. The Applicant shall pay a fee of $82,471 to offset an expected reduction in lodging tax revenues to be collected by the City of Aspen due to the conversion o f the lodge to a timeshare lodge over the expected li fe of the project. Seventy-five (75) percent of the total due shall be paid upon selling forty (40) percent of the total timeshare interests that are available to the public and the remaining twenty-five (25) percent of the balance shall be paid upon selling sixty (60) percent of the total timeshare interests available to the public. Section 2: 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 construed and concluded under such prior ordinances. 111111 --Ill-lili I'll-Il-I-lililli lilli f .1 Dage: 4 of 5 492627 12/19/2003 09:42A SI_V IF DAR IS F.TKIN COUNTY CC R 26.00 D 0.00 Section 3: 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 o f the remaining portions thereof. Section 4: A public hearing on the ordinance shall be held on the 15th day of December, 2003, in the City Council Chambers, Aspen City Hall, Aspen, Colorado. INTRODUCED, READ AND ORDERED PUBLISHED as provided by law, by the City Council of the City of Aspen on the 24th day ofNovember, 2003. Helen Kalih KfR~rud, Mayor Attest: - rl - . e, MNA*~.hfâ€¢416pted, passed and approved by a vote o f four to one (4-1), this 15th day o f "*Al 50, December, 2003. 'Heren'K~lin KMMhd~rud, Mayor 6- Ill'1111. 1 1- lili 111 -Ill'llill 1 1 1 Uilili 492627 Page 5 of 5 lEi 1 12/19/2003 09:42A Attest: SI-VIA DAVIS CITK:A COUN-Y CO R 26.00 D 0.00 6,1 5,Â· 43, 4 A Â·----k Â¥ taiÂ·56. .1, 0 >44* Â· Ja#*1 Â£. K*#, City Clerk .. Â»fK 94 0 >3 s,4 form: ...S'/&/i (Aeld:a Joi*E~*orcester, City Attorney ......4 0 Fl he Little Red Ski Haus jumps o~i the timeshare bandwagon By Janet Urquhart bined to create a suite, so 12 rooms The owner's other options include Aspen Times Staff Writer will be offered for sale. converting it into a single-family 1 The Little Red Ski Haus will The council offered little objection home, but "our heart's not there," he , become the first of Aspen's small bed to the timeshare arrangement for the said. i and breakfasts to jump on the time- Cooper Avenue lodge, though Coun- Selling fractional ownerships in the Â· share bandwagon. cilman Torre voted against the pro- lodge is its best bet to continue as a , The City Council voted 4-1 Mon- posal. bed and breakfast, Fiore said. I day to approve the historic ski lodge's The broader issue - losing exist- The only sticking point was in the I conversion to a timeshare project. ing lodges to the timeshare market - calculation of the fee the lodge must %. Rooms will be sold in 1/16th shares was Torre's concern. pay to the city to offset future sales E for prices ranging from $40,000 to "I think this is part of the fabric of tax revenue that will be lost with its ~ $120,000, according to the lodge's the community that we're supposed to conversion into a timeshare. B owners. protect," he said. The city determined the fee should . 1 The arrangement will give owners The new owners of the Ski Haus be $82,471, based on a complex for- ' thi .eeks a year to stay in their reopened the lodge a year ago after mula; the lodge owners asked that the : unt ur weeks in each guest room modernizing it in an extensive reno- fee be waived or, in the alternative, will remain unsold so the Ski Haus vation. calculated the fee at $38,732. I can accommodate short-term rentals Continuing its operation as a stan- "I think it would help us achieve c during certain peak periods. dard lodge is not feasible, according our financial goals of sustainability " I The lodge currently contains 13 to managing partner David Fiore. The for the lodge, said Fiore, lobbying rooms, including a pair of four-bed venture has not been profitable, he for waving the fee. ~ bunk rooms. Two rooms will be com- said. i See Ski Haus on page 6 6 - aric.1 uieriwoou~prings. wÂ£,~ / / / 1.. Â·Â· Â· '-'' Â· Â·-Â· --Â·- - Â·Â· --"'I,HI" welcome. 411 Main St., Carbondale. 704-0622. --â€ž,â€žr /1 - Z.- HeritageAspen hosts an open house, with ~ - high tea, gift exchange and book signing by slide show and book signing titled "Sum~IL d - local authors, from 4-6 p.m. at the Strategies: Secrets to Mastering the Everes~ w, ~ Mountalneer Gary Scott will present a free Wheeler/Stallard Museum. Regular hours Your Life" at 7:30 p.m. at the Ute Mountainal/ are Tuesday through Saturday from 1-5 308 S. Mill St., on the mall. 925-2849. M p.m., and Wednesdays until 8 p.m. Located at 620 W Bleeker St. 925-3721, www.heritageaspen.org. Jan Hamilton, Ph.D., R.D., of the Nutritional Biomedicine ~ * Research Institute, is presenting a series of community lee- <ob turns on Tuesdays. Today: "Deck Your Heart with Boughs Yin Meets Yang Yoga Class with Anne of Healthy Living." Meet in the Hotel Jerome Lobby at 9 Fi, / Peterson-Richards-Byard meets Tuesdays a.m. Call 925Â·6664 for reservations. - Wi ~~_ and Thursdays at 5:15 p.m. at Aspen " Community Church. $10 per class. First 4 Cl class free. All levels welcome. 544-1950. Aspen Chapel offers weekly Tuesday School SC for kids in kindergarten through eighth fal grade. This year's theme is "Unity With Pc ~ ~ Overeatem Anonymous meets Tuesdays from ~ tri Diversity." Call Elaine Bonds at 925-7182 or gr ~ dI 5-6 p.m. at the Aspen Community church. For Gregg Anderson at 925-7184. hi 111~4~1 more information call Steve at 925-1294. The PitkIn County Ubrary offers story hours for toddlers Cage sl ~ ~ Ladies' Night Out, a spiritual discussion 2 and guardians) on Tuesdays from 10:15-10:45 a.m. |0' gathering for women, meets the first and Preschool story hour (ages 3-5) meets on Tuesdays from jO' third Tuesdays of each month (tonight) from 6:30-8 11-11:30 a.m. 9254025. P< p.m. at 905 Lupine Circle, Elk Run, in Basalt. , A; Suggested donation $10, not required. Call Leslie * * * sr Lebendiger at 927-9279. Check The Listings in The Aspen Times Weekly Sl ar Advocate Safehouse Project offers free Women's Support for the entire week's events Groups, for women in a current or past abusive relation- in the Roaring Fork Valley. ship, on Tuesdays at 7 p.m. in Glenwood Springs and on To get listed: 925-9156-fax or sjohnson@aspentimes.com Mondays at 7 p.m. in Rifle. Call 945-2632. FITNESS ~,ki Ha us ~ m continued from page 3 shares are sold, with the remainder shares, that will be a strong indica- In the end, the city held the lodge due when 60 percent of the shares tion that the endeavor will be sue- 1 ~ to the higher fee, but agreed to a are sold. cessful. said Councilman Tim J ~ payment schedule the lodge owners The sale of shares in a bed and Semrau. ~ can accept. breakfast is uncharted territory, l~ Â· Seventy-five percent of the fee noted representatives of the lodge. Janet Urquhart's e-mail addiÂ·es~~ Ik must be paid when 40 percent of the If they sell 40 percent of the is janet@aspentimes.com J ganizations. . -.. rtoneighbor.com -21.... x 16 3 9 , CO 81612 .925.7993 1 ,1.,41-/ -Â» D. 17 - Z -: . ..W=:,4 *,117 - IN :41 Date: December 15,2003 Additional Recommended Condition of Approval 7. The Applicant shall pay a fee of $82,471 to offset an expected reduction in lodging tax revenues to be colIected by the City of Aspen due to the conversion of the lodge to a timeshare lodge over the expected life of the project. This fee shall only be paid by the Applicant if more than 10 percent o f the total timeshare interests that are available to the public are sold. If the Applicant sells more than 10 percent of the total timeshare interests that are available to the public. the total fee shall be paid by the Applicant within the first five (5) full years after the first timeshare interest is sold. The method of payment o f this fee shall be approved by the C ity Finance Director and included in the timeshare documents that are referenced in Condition of Approval No, 4. Aldâ‚¬J 6061 d j H cÂ«_ p n, p Of>Â«Cj 44+ 4- 1-2_/i St-6 6.-cuticit< y K 1 Coucvt r cc>R h Y C e,UlA-C l \ 41 > At f 1 t.c /c A 0 j / A._ 41~ Aed o l/d r1 V / VII" b MEMORANDUM Appmued TO: Mayor Klanderud and Aspen City Council THRU: Julie Ann Woods, Community Development Director (~1- ,AA FROM: James Lindt, Planner j~. 110) ce)(46 RE: Little Red Ski Haus Planned Unit Development Amendment, 6 00 \Cl I j--blh Subdivision, and Timeshare- 2nd Reading of Ordinance No. 61, Series Ae. -97 of 2003 DATE: December 15,2003 PROJECT: LITTLE RED SKI HAUS TIMESHARE REQUEST: The Applicant is requesting the appropriate land use approvals to convert the existing Little Red Ski Haus Lodge into a timeshare lodge. PROPOSED ZONING: R/MF with a Lodge Preservation (LP) and PUD Overlay LAND USE PUD Amendment, Subdivision, and Timeshare. REQUESTS: STAFF Staff recommends that City Council approve with conditions, the RECOMMENDATION: proposed requests. P&Z The Planning and Zoning Commission unanimously recommended that RECOMMENDATION: City Council approve the proposal as requested. SUMMARY OF REQUEST: The Applicant, Little Red Ski Haus, LLC, represented by Gouger & Franzmann, LLC, is requesting the appropriate land use approvals to convert the existing Little Red Ski Haus Lodge into a timeshare lodge. LAND USE ACTIONS REQUESTED: The Applicant is requesting the following land use actions for the proposed conversion to a timeshare lodge: â€¢ PUD Amendment â€¢ Subdivision â€¢ Timeshare City Council shall approve, approve with conditions, or deny the proposed requests after considering a recommendation from the Community Development Director and the Planning and Zoning Commission. -1- BACKGROUND: The Little Red Ski Haus Lodge located at 118 E. Cooper Avenue was renovated and expanded in 2001. In conjunction with the expansion of the structure, a PUD was approved to establish the site-specific development plan that currently exists. The property was also rezoned to include a Lodge Preservation and PUD Overlay as part of the development project. The renovated lodge now contains a total of thirteen (13) traditional lodge rooms, a manager's unit and an accessory dining facility. PROPOSED DEVELOPMENT: The Applicant is proposing to convert the existing lodge into a timeshare lodge pursuant to Land Use Code Section 26.590, Timeshare Development. Specifically, the Applicant is proposing to sell sixteen (16) fractional interests in twelve (12) of the units (the "Luxury Suite" is to be made up of two (2) existing lodge units). Therefore, the Applicant is proposing to create a total of 192 fractional interests. Of the total fractional interests that would be created, the Applicant is proposing to retain four (4) weeks in each unit for the purpose of renting them out on a short-term basis and for maintenance. The proposed fractional interest breakdown is illustrated in the chart below (please see floor plans attached as Exhibit "B" for location of room types): Number of Units Description Number of Fractional Number of Weeks Ownership Interests Allocated to Each Available per Unit Fractional Ownership Interest 1 Luxury Suite 16 3 Weeks (Combination of 2 Lodge Rooms) 3 Executive/Family 16 3 Weeks 3 Historic King 16 3 Weeks 3 Standard King 16 3 Weeks 2 Bunk Rooms 16 3 Weeks Additionally, the Applicant is not proposing any alterations to the structure itself in association with the proposed conversion to a timeshare lodge because the structure was brought up to current building code standards as part of the recent renovation. Therefore, the units are not proposed to have kitchens in them as they currently exist. STAFF ANALYSIS OF TIMESHARE ASPECTS OF PROPOSAL: Physical Elements Staff believes that the Applicant has provided all of the mandatory physical elements for a timeshare development that are required by Land Use Code Section 26.590.060(A), Mandatory Physical Elements. The proposal includes a staffed, on-site front desk that will be open during regular business hours and provide full-time registration and reservation services. And, according to the application, the desk will also make -2- arrangements for late check-ins and will accommodate walk-in rentals if a unit is available. Furthermore, staff believes that the existing lodge contains an adequate amount of recreational facilities and other amenities to serve its occupants given the relatively small size of the lodge. The lodge contains a Jacuzzi, an accessory dining room to serve guests, on-site laundry, and temporary ski storage facilities. Operational Characteristics The Applicant proposes to make the unit available to the general public as short-term accommodations when the owners of the unit are not using their time. It has been proposed by the Applicant that a fractional interest owner be required to alert the management company at least a month ahead of time if they plan on using a unit. Moreover, the application proposes to list the rooms for short-term rental with a central reservation system. Therefore, staff believes that the proposed operation plan will still allow for the property to accommodate short-term, walk-in business as is required in the mandatory timeshare regulations. Staff also feels that the proposal meets some of the optional operational characteristics that are set forth in the Land Use Code in addition to the mandatory operational characteristics as is outlined below. The Applicant has proposed to divide the units into more than ten ( 10) fractional ownership interests per unit as is consistent with the optional characteristics that are encouraged in the timeshare regulations. Additionally. the Applicant has proposed to retain four (4) weeks per year in each unit for the purpose of renting them on a short-term basis as is also encouraged by the timeshare regulations. Staff believes that the Applicant' s compliance with the abovementioned optional characteristics is important in that it will allow for the proposed timeshare lodge units to operate more in the character of a traditional lodge than in the character of a residence, yet still attain the higher occupancy rates that are expected in conjunction with fractionalizing the ownership. GMQS IMPLICATIONS: The Applicant is only proposing to convert the existing lodge into a timeshare lodge, which under the current land use code regulations does not have any growth management implications. Staff is currently looking at the employee generation differences between lodges and fractional ownership lodges to enact possible code amendments. Ilowever, under the current land use code, the Growth Management Quota System treats both the lodge use and the timeshare lodge use as equals. Therefore, the Applicant is not required to mitigate for employee housing in conjunction with the conversion. SUBDIVISION: In this case, the sole purpose of the subdivision request is to allow for the site to be condominiumized and placed in a fractional form of ownership. Staff believes that the proposal meets the review standards for subdivision. Staff also feels that the proposed fractional lodge use is appropriate for the site and is compatible with the surrounding lodge and multi-family residential uses. -3- ISSUES: Off-Street Parking The existing lodge currently has three (3) on-site parking spaces for the thirteen (13) lodge units and one manager's unit, which yields an off-street parking ratio of.21 parking spaces per bedroom. This parking ratio was established and was determined to be acceptable through the recent PUD review for the expansion of the lodge. When the PUD for the remodel and expansion o f the lodge was reviewed, it was reviewed under the premise that there would be occasions when the lodge would be at 100% occupancy. Staff does not believe that converting the lodge to a timeshare lodge will ever push the occupancy level at one time over the 100% occupancy level that was considered in the PUD review. Therefore, staff believes that the existing parking is sufficient to accommodate the proposed conversion. Additionally, the timeshare regulations do not allow for the storage of vehicles on the site when an owner is not staying at the lodge. Staff has proposed to reinforce this regulation by including the prohibition of vehicle storage as a condition of approval in the proposed ordinance. Tax Revenue Implications The Applicant originally provided staff with a fiscal impact analysis, which they felt warranted no mitigation fee. However, the City Finance Staff reviewed the fiscal impact analysis based on the required methodology in the land use code and felt that the Applicant should be required to pay a fee of approximately $83,000 to offset a loss in lodging tax revenues to the City over the life of the project. After discussions between the Applicant and staff related to the methodology of calculating the tax revenue impacts of the conversion, the Applicant subsequently reviewed the numbers they provided staff and supplied staff with different occupancy rates and prices that they believe to be more realistic than their initial submittal. This revised analysis indicated that a fee of approximately $38,000 should be warranted based on the City's methodology for calculating this fee. The City Finance Director is still reviewing this most recent impact analysis provided by the Applicant and will provide comments for City Council's review prior to the hearing. However, it should be noted that the Applicant has requested that the mitigation fee be waived because they feel that the estimated fee is based on expected revenue. That being the case, the Applicant feels that there is no assurance that the property will be a lodge in the future due to the ease in which the land use code would allow for the lodge to be converted into a single-family dwelling unit because it is a historic structure. STAFF RECOMMENDATION: It has been generally accepted that timeshare projects such as this proposal provide increased occupancy rates in relation to regular lodge units. Therefore, staff has no indication that the proposal would not benefit the community by increasing the number of people in town during the off-season to economically support the town's businesses. Additionally, staff believes that the proposal meets the timeshare lodge review standards. Therefore, staff recommends that City Council approve the -4- proposed ordinance, thereby approving the proposed timeshare request with conditions. PLANNING AND ZONING COMMISSION RECOMMENDATION: The Planning and Zoning Commission reviewed the proposed request and unanimously recommended that City Council approve the conversion of the Little Red Ski Haus to a timeshare lodge as proposed. Several members of the Planning and Zoning Commission expressed that they felt this application was positive in that the proposed product and price is very different from the other timeshare units that have been proposed thus far under the new timeshare regulations. Additionally, the Planning and Zoning Commission thought that the proposal contained a lot of the operational characteristics that are encouraged by the revised timeshare regulations. RECOMMENDED MOTION: "I move to approve Ordinance No. 61, Series of 2003, approving a PUD amendment, subdivision, and timeshare lodge development request to allow for the Little Red Ski Haus Lodge to convert to a timeshare lodge with the conditions set forth therein." CITY MA,GER'S COMMENTS: ~<.1.56 f 3.71 -f .2.f 41 h.,~e/ Ltd ...7 1., 24 # I 1) PÂ·*" 25, 1+*- %f p e.- c- 07Â·Â» .1 CÂ« 11-Â»b 1- 6.r {4 Â£ F.V'. .. 4.kN. 6 *36.,I. f e e L O 9 re C ~AJ . /X 4 .- 4. a /> r,-7 rtÂ· ,~ A tki f 42'64 fee, 1*:A f ~ ,. jf;_ L g L , ATTACHMENTS EXHIBIT A - REVIEW CRITERIA AND STAFF FINDINGS EXHIBIT B - EXISTING FLOORPLANS EXHIBIT C -PLANNING AND ZONING COMMISSION RESOLUTION EXHIBIT D -PLANNING AND ZONING COMMISSION MINUTES -5- ORDINANCE N0. 61 (SERIES OF 2003) AN ORDINANCE OF THE ASPEN CITY COUNCIL APPROVING THE LITTLE RED SKI HAUS PLANNED UNIT DEVELOPMENT AMENDMENT, SUBDIVISION, AND TIMESHARE APPLICATION ON THE PROPERTY DESCRIBED AS LOT O AND THE WEST HALF OF LOT P, BLOCK 69, CITY AND TOWNSITE OF ASPEN, PITKIN COUNTY, COLORADO Parcel ID: 2735-124-71-005 WHEREAS, the Community Development Department received an application from Little Red Ski Haus LLC, owner, represented by Gouger & Franzmann, LLC, requesting approval of a Planned Unit Development Amendment, Subdivision. and Timeshare to convert the existing Little Red Ski Haus Lodge to a timeshare lodge on the property described as Lot O and the West one-half of Lot P, Block 69, City and Townsite of Aspen; and, WHEREAS, the subject property is located in the Residential Multi-Family (R/MF) Zone District with a Lodge Preservation (LP) and PUD Overlay; and, WHEREAS, pursuant to Land Use Code Section 26.304.060(B), Combined Reviews, the Community Development Director in consultation with the applicant has concluded that a combined review of the land use requests associated with this application would reduce duplication and ensure economy of time, expense, and clarity; and, WHEREAS, pursuant to Land Use Code Section 26.445, Planned Unit Development; Section 26.480, Subdivision; and, Section 26.590, Timeshare, the City Council may approve, approve with conditions, or deny the land use requests made by the Applicant during a duly noticed public hearing after taking and considering comments from the general public, and recommendations from the Planning and Zoning Commission, Community Development Director, and relevant referral agencies; and, WHEREAS, upon review of the application and the applicable code standards, the Community Development Department recommended approval of the proposed PUD amendment, subdivision, and timeshare requests, with conditions; and, WHEREAS, during a duly noticed public hearing on November 4. 2003. the Planning and Zoning Commission approved Resolution No. 26, Series of 2003, by a seven to zero (7-0) vote, recommending that City Council approve the requested PUD amendment, subdivision, and timeshare request; and, WHEREAS, the Aspen City Council has reviewed and considered the development proposal under the applicable provisions of the Municipal Code as identified herein, has reviewed and considered the recommendation of the Planning and Zoning Commission, the Community Development Director, the applicable referral agencies. and has taken and considered public comment at a public hearing; and, WHEREAS, the City Council finds that the development proposal meets or exceeds all applicable development standards and that the approval of the development proposal, with conditions, is 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 the promotion of 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 the procedures and standards set forth in City of Aspen Land Use Code Section 26.445, Planned Unit DevelopmentÂ», Section 26.480, Subdivision; and Section 26.590, Timeshare, City Council hereby approves a PUD Amendment, Subdivision, and Timeshare request to allow for the Little Red Ski Haus Lodge located at 118 E. Cooper Avenue to convert to a timeshare lodge, with the following conditions: 1. The approved fractional interest breakdown is as follows: Number of Units Description Number of Fractional Number of Weeks Ownership Interests Allocated to Each Available per Unit Fractional Ownership Interest 1 Luxury Suite 16 3 Weeks (Consisting of 2 of the existing lodge rooms) 3 Executive/Family 16 3 Weeks 3 Historic King 16 3 Weeks 3 Standard King 16 3 Weeks 2 Bunk Rooms 16 3 Weeks 2. The City of Aspen Finance Department shall conduct an annual audit of the sales tax revenues that the City collects from the Little Red Ski Haus Lodge over its first five (5) years of operation as a timeshare lodge, to determine if the projected revenues are accurate. The Applicant shall cooperate with the Finance Department in its annual audit efforts. 3. Final Condominium Declarations shall be submitted to the City concurrent with the submission of the Condominium Subdivision Plat and shall include the following language regarding timeshare: a. Timeshare estates, including the four (4) weeks per unit that are to be retained by the Applicant, shall be made available for short- term rental when the estate is not in. use by the owner of the unit, the owner's guests, or persons occupying the unit under an exchange program. Units that are available for rental shall be listed at competitive rates in a central reservation system. b. The covenants of the homeowners association shall permit walk- iii rental of units. The association shall not limit rental of units to such arrangements as only weekly rentals or Saturday-to- Saturday rentals; instead the association shall permit shorter stays, split-week rentals, and similar flexible arrangements. c. Owners of timeshare estates shall be required to reserve their unit/time sufficiently far enough in advance to enable the public to obtain access to those units that are not so reserved. The term "sufficiently" shall be specifically defined as a full month (30 days) prior to the first day of the intended stay. d. The owner of a timeshare estate shall not be permitted to occupy that estate for any period in excess of thirty (30) consecutive calendar days. e. The owner of a timeshare estate shall be prohibited from storing a vehicle in a parking space on-site when that owner is not using the estate. 4. The Applicant shall submit all timeshare documents and disclosure statements to the City Attorney for review prior to their recordation at the Pitkin County Clerk and Recorder's Office. 5. Each owner of an estate shall have an undivided interest in the common recreational areas within the facility. 6. The timeshare lodge units that remain in the developer's inventory shall be made available for rental to the public while the estates are being sold, except for models and other units that are needed for marketing or promotional purposes. Section 2: 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 construed and concluded under such prior ordinances. Section 3: 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 4: A public hearing on the ordinance shall be held on the 15th day of December, 2003, in the City Council Chambers, Aspen City Hall, Aspen, Colorado. INTRODUCED, READ AND ORDERED PUBLISHED as provided by law, by the City th Council ofthe City of Aspen on the 24 day ofNovember, 2003. Helen Kalin Klanderud, Mayor Attest: Kathryn S. Koch, City Clerk FINALLY, adopted, passed and approved by a vote of to C_-_3, this 15th day of December, 2003. Helen Kalin Klanderud, Mayor Attest: Kathryn S. Koch, City Clerk Approved as to form: John P. Worcester, City Attorney EXHIBIT A PLANNED UNIT DEVELOPMENT (PUD) Review Criteria & Staff Findings In accordance with Section 26.445.030(B)(3) of the Land Use Code, due to the limited extent of the issues involved, a development application requesting approval as a Planned Unit Development on a parcel of land located in the Lodge Preservation (LP) Overlay Zone District shall be processed pursuant to the terms and procedures of Minor Planned Unit Development review (Minor PUD). This two-step process does not require approval of a conceptual development plan, but only review and approval of a final development plan by the Planning and Zoning Commission and the City Council. with public hearings occurring at both. Section 26.445.050, Review Standards: Minor PUD Section 26.445.050 of the Regulations provides that development applications for Minor PUD must comply with the following standards and requirements. A. General Requirements. 1. The proposed development shall be consistent with the Aspen Area Community Plan. Staff Finding Staff believes that the proposed request is consistent with the Aspen Area Community Plan. Staff does not feel that subdividing the proposed development for the purpose of allowing for the units to be owned under a fractional form of ownership is contrary to the goals of the AACP. The City has embraced the idea that timeshare development will help in maintaining a healthier year-round economy as a result of the higher occupancies that are predicted with timeshare development as is consistent with the goals of the Economic Sustainability portion of the AACP. Staff finds this criterion to be met. 2. The proposed development shall be consistent with the character Of existing land uses in the surrounding area. Staff Finding Staff believes that the proposed timeshare lodge use is consistent with the character of the existing land uses in the surrounding area. The majority of the properties in the immediate vicinity are small lodging establishments or multi-family buildings consisting of three or more units. Staff believes that a lodge or a timeshare development is the appropriate land use for the subject parcel. Staff finds this criterion to be met. 3. The proposed development shall not adversely affect the future development o.f the surrounding area. -6- Staff Finding Staff does not believe that the conversion of the Little Red Ski Halts to a timeshare lodge will adversely affect the future development of the surrounding area. Thus, staff finds this criterion to be met. 4. The proposed development has either been granted GMQS allotments, is exempt from GMQS, or GMQS allotments are available to accommodate the proposed development and will be considered prior to, or in combination with, final PUD development plan review. Staff Finding Under the current land use code requirements, the Growth Management Quota System treats lodge units and timeshare lodge units the same. And therefore, because the Applicant is not requesting to alter the number of bedrooms and is only requesting to convert the existing lodge units into timeshare lodge units, additional GMQS allotments are not required for the conversion. Staff finds this criterion to be met. B. Establishment of Dimensional Requirements: The final PUD development plans shall establish the dimensional requirements.for all properties within the PUD. The dimensional requirements of the underlying zone district shall be used as a guide in determining the appropriate dimensions.for the PUD. During review of the proposed dimensional requirements, compatibility with surrounding land uses and existing development patterns shall be emphasized. 1. The proposed dimensional requirements for the subject property are appropriate and compatible with theft)!lowing influences on the property: a) The character of, and compatibility with, existing and expected .future land uses in the surrounding area. b) Natural and man-made hazards. c) Existing natural characteristics of the property and surrounding area such as steep slopes, waterways, shade, and significant vegetation and landforms. d) Existing and proposed man-made characteristics of the property and the surrounding area such as noise, traffic, transit, pedestrian circulation, parking, and historical resources. Staff Finding The Applicant is not requesting to vary the allowable dimensional requirements from what was approved in City Council Ordinance No. 11, Series of 2002. Therefore, staff does not believe that this criterion is applicable to this application. 2. The proposed dimensional requirements permit a scale, massing, and quantity of open space and site coverage appropriate and favorable to the character of the proposed PUD and of the surrounding area. -7- Staff Finding The Applicant is not requesting to vary the allowable dimensional requirements from what was approved in City Council Ordinance No. 11, Series of 2002. Therefore. staff finds this criterion not to be applicable to this application. 3. The appropriate number of off-street parking spaces shall be established based on the.following considerations: a) The probable number of cars used by those using the proposed development including any non-residential land uses. b) The varying time periods of use, whenever joint use of common parking is proposed c) The availability of public transit and other transportation facilities, including those for pedestrian access and/or the commitment to utilize automobile disincentive techniques in the proposed development. d) The proximity of the proposed development to the commercial core and general activity centers in the city. Stafffinding The existing lodge currently has three (3) on-site parking spaces for the thirteen (13) lodge units and one manager' s units, which yields an off-street parking ratio of .21 parking spaces per lodging bedroom. This parking ratio was established and was determined to be acceptable through the recent PUD review for the expansion of the lodge. When the PUD for the remodel and expansion of the lodge was reviewed, it was reviewed under the premise that there would be occasions when the lodge would have 100% occupancy. Staff does not believe that converting the lodge to a timeshare lodge will ever push the occupancy level at one time over the 100% occupancy level that was considered iii the PUD review. Therefore, staff believes that the existing parking is sufficient to accommodate the proposed conversion. Additionally, the timeshare regulations do not allow for the storage of vehicles on the site when an owner is not staying at the lodge. Staff has proposed to reinforce this regulation by including the prohibition of vehicle storage as a condition of approval in the proposed resolution. 4. The maximum allowable density within a PUD may be reduced if there exists insufficient infrastructure capabilities. Specifically, the maximum density of a PUD may be reduced if: a) There is not sufficient water pressure, drainage capabilities, or other utilities to service the proposed development. b) There are not adequate roads to ensure jire protection, snow removal, and road maintenance to the proposed development. Staff Finding The Applicant is not requesting that the maximum allowable density be reduced. Therefore, staff finds this criterion not to be applicable to this application. -8- 5. The maximum allowable density within a PUD may be reduced if there exists natural hazards or critical natural site features. Specifically, the maximum density of a PUD may be reduced if: a) The land is not suitablefor the proposed development because of ground instability or the possibility of mudflow, rock falls or avalanche dangers. b) The effects of the proposed development are detrimental to the natural watershed, due to runoff, drainage, soil erosion, and consequent water pollution. c) The proposed development will have a pernicious effect on air quality in the surrounding area and the City. d) The design and location of any proposed structure, road, driveway, or trail in the proposed development is not compatible with the terrain or causes harmful disturbance to critical naturalfeatures of the site. Staff Finding The Applicant is not requesting a reduction in the maximum allowable density established in the Little Red Ski Haus PUD. Staff finds this criterion not to be applicable to this application. 6. The maximum allowable density within a PUD may be increased if there exists a signific(tnt community goal to be achieved through such increase and the development pattern is compatible with its surrounding development patterns and with the site's physical constraints. Specifically, the maximum density of a PUD may be increased if: a) The increase in density serves one or more goals of the community as expressed in the Aspen Area Community Plan (AACP) or a specific area plan to which the property is subject. b) The site's physical capabilities can accommodate additional density and there exists no negative physical characteristics of the site, as identified in subparagraphs 4 and 5, above, those areas can be avoided, or those characteristics mitigated. c) The increase in maximum density results in a development pattern compatible with, and complimentary to, the surrounding existing and expected development pattern, land uses, and characteristics. Staff Finding The Applicant is not requesting to increase the allowable density through the proposed PUD amendment. Staff finds that this criterion not to be applicable to this application. B. Site Design: The purpose of this standard is to ensure the PUD enhances public spaces, is complimentary to the site's natural and man-made features and the adjacent public spaces, and ensures the public's health and safety. The proposed development shall comply with the following: 1. Existing natural or man-made features of the site which are unique, provide visual interest or a specific reference to the past, or contribute to the identity of the town are preserved or enhanced in an appropriate manner. -9- Staff Finding The Applicant is not proposing any physical alterations to the Little Red Ski Haus structure or site. Staff finds this criterion not to be applicable to this application. 2. Structures have been clustered to appropriately preserve significant open spaces and vistas. Staff Finding The Applicant is not proposing any physical alterations to the Little Red Ski Haus structure or site. Staff finds this criterion not to be applicable to this application. 3. Structures are appropriately oriented to public streets, contribute to the urban or rural context where appropriate, and provide visual interest and engagement of vehicular and pedestrian movement. Staff Finding The Applicant is not proposing any physical alterations to the Little Red Ski LIaus structure or site. Staff finds this criterion not to be applicable to this application. 4. Buildings and access ways are appropriately arranged to allow emergency und service vehicle access. Staff Finding The Applicant is not proposing any physical alterations to the Little Red Ski Haus structure or site. Staff finds this criterion not to be applicable to this application. 5. Adequate pedestrian and handicapped access is provided. Staff Finding Adequate pedestrian and handicapped access was provided through improvements made to the structure as part of the recent remodel and expansion. Staff finds this criterion to be met. 6. Site drainage is accommodated for the proposed development in a practical and reasonable manner and shall not negatively impact surrounding properties. Staff Finding Site drainage was reviewed during the review of the initial PUD application and this request would not physically alter the structure. Therefore, staff finds this criterion not to be applicable to this application. 7. For non-residential land uses, spaces between buildings are appropriately de-signed to accommodate any programmatic functions associated with the use. - 10 - Staff Finding The Applicant is not proposing to alter the existing structure. Therefore, there will not be a change in the programmatic functions associated with the site. Thus, staff finds that this criterion is not applicable to the proposal. C. Landscape Plan: The purpose of this standard is to ensure compatibility of the proposed landscape with the visual character of the city, with surrounding parcels, and with existing and proposed features of the subject property. The proposed development shall comply with the following: 1. The landscape plan exhibits a well designed treatment of exterior spaces, preserving existing significant vegetation, and provides an ample quantity and variety ofornamental plant species suitable for the Aspen area climate. Staff Finding The Applicant is not proposing to alter the existing landscaping that was approved through the original PUD. Staff finds this criterion not to be applicable to this application. 2. Signijicant existing natural and man-made site .features, which provide uniqueness and interest in the landscape, are preserved or enhanced in an appropriate man ner. Staff Finding The Applicant is not proposing to alter the existing site or structure as part of this amendment. Staff finds this criterion not to be applicable to this application. 3. The proposed method of protecting existing vegetation and other landscape features is appropriate. Staff Finding The Applicant is not proposing to alter the existing site or structure as part of this amendment. Staff finds this criterion not to be applicable to this application. D. Architecturai Character: It is the purpose of this standard to encourage architectural interest, variety, character, and visual identity in the proposed development and within the City while promoting efficient use O.f resources. Architectural character is based upon the suitability of a building for its purposes, legibility of the building's use, the building's proposed massing, proportion, scale, orientation to public spaces and other buildings, use of materials, and other attributes which may significantly represent the character of the proposed development. There shall be approved as part of the jinal development plan and architectural character plan, which adequately depicts the character of the proposed development. The proposed architecture ofthe development shall: 1. be compatible with or enhance the visual character of the city, appropriately relate to existing and proposed architecture of the property, -11- represent a character suitable for, and indicative of, the intended use, and respect the scale and massing o.f nearby historical and cultural resources. Staff Finding The Applicant is not proposing to alter the existing structure in which the architecture was approved of in the original Little Red Ski Haus PUD. Staff finds this criterion not to be applicable to this application. 2. Incorporate, to the extent practical, natural heating and cooling by taking advantage of the property'% solar access, shade, and vegetation and by use (,f non- or less-intensive mechanical systems. Staff Finding The Applicant is not proposing to alter the existing structure. Staff finds this criterion not to be applicable to this application. 3. Accommodate the storage and shielding of snow, ice, and water in a safe an appropriate manner that does not require significant maintenance. Staff Finding The Applicant is not proposing to alter the existing structure. Therefore, staff finds this criterion not to be applicable to this application. E. Lighting: The purpose of this standard is to ensure the exterior ofthe development will be lighted in an appropriate manner considering both public safety and general aesthetic concerns. Thejt,Ilowing standards shall be accomplished: 1. All lighting is proposed so as to prevent direct glare or hazardous interference of any king to adjoining streets or lands. Lighting of site features, structures, and access ways is proposed in an appropriate manner. Staff Finding The Applicant is required to, and has consented to meet the City of Aspen Lighting Code for any exterior lighting that is proposed. Staff believes that the Applicant' s required compliance with the City Lighting Code ensures that the development will be lighted in an appropriate manner. Staff finds this criterion to be met. 2. All exterior lighting shall be in compliance with the Outdoor Lighting Standards unless otherwise approved und noted in the final PUD documents. Up-lighting of sitefeatures, buildings, landscape elements, and lighting to call inordinate attention to the property is prohibited for residential development. - 12 - Staff Finding The Applicant is required to meet the City of Aspen Lighting Code on the existing development. Staff finds this criterion to be met. G. Common Park, Open Space, or Recreation Area: If the proposed development includes a common park, open space, or recreation area for the mutual benefit of all development in the proposed PUD, the.following criteria shall be met: 1. The proposed amount, location, and design O.f the common park, open space, or recreation area enhances the character of the proposed development, considering existing and proposed structures und natural landscapefeatures of the property, provides visual relief to the property's built form, and is available to the mutual benefit of the various land uses und property users of the PUD. Staff Finding The Applicant is not proposing any common park or open space on the site. Staff finds that this criterion is not applicable to this proposal. 2. A proportionate, undivided interest in all common park and recreation areas is deeded in perpetuity (not for a number of years) to each lot or dwelling unit owner within the PUD or ownership is proposed in a similar manner. Staff Finding The Applicant is not proposing any common park or open space on the site. However, staff has proposed a condition of approval that requires each owner of an estate have access to the common recreation facilities within the development. Staff finds this criterion to be met. 3. There is proposed an adequate assurance through legal instrument for the permanent care and maintenance Of open spaces, recreation areas, and shared .facilities together with a deed restriction against .future residential, commercial, or industrial development. Staff Finding There is no proposed open space or common park on the site. However, the recreation area (Jacuzzi Spa and deck) is to be maintained by the management company that manages the timeshare lodge. In addition, the future residential, commercial, or industrial development of the recreation area would be regulated by the dimensional requirements that are established were established in the final development plan. Therefore, any future development of the recreation area would require an amendment to the PUD. Staff finds this criterion to be met. H. Utilities and Public Facilities: The purpose of this standard is to ensure the development does not impose any undue burden on the City's infrastructure capabilities and that the public does -13- not incur an unjustified financial burden. The proposed utilities and public facilities associated with the development shall comply with the ft)!lowing: 1. Adequate public infrastructure facilities exist to accommodate the development. Staff Finding The Applicant is not proposing to alter the existing structure. Staff finds this criterion not to be applicable to this application. 2. Adverse impacts on public infrastructure by the development will be mitigated by the necessary improvements at the sole cost of the developer. Staff Finding The Applicant is not proposing to alter the existing structure through this amendment and staff does not believe that the conversion of the units to a timeshare lodge will have a substantial adverse impact on the existing public infrastructure. Therefore, staff finds this criterion not to be applicable to this application. 3. Oversized utilities, public facilities, or site improvements are provided appropriately and where the developer is reimbursed proportionately for the additional improvement. Staff Finding The Applicant is not proposing any alterations to the existing structure and the utility and public facility improvements were considered in reviewing the original PUD application. Staff finds this criterion not to be applicable to this application. 1. Access and Circulation (Only standards 1&2 apply to Minor PUD applications): The purpose of this standard is to ensure the development is easily accessible, does not unduly burden the surrounding road network, provides adequate pedestrian and recreational trail facilities and minimizes the use of security gates. The proposed access and circulation of the development shall meet the .following criteria: 1. Each lot, structure, or other land use within the PUD has adequate access to a public street either directly or through and approved private road, a pedestrian way, or other area dedicated to public or private use. Staff Finding The Applicant is not proposing any physical alteration to the existing structure or site. The access was contemplated and considered to be sufficient during the review of the original PUD application. Staff finds this criterion to be met. 2. The proposed development, vehicular access points, and parking arrangement do not create traffic congestion on the roads surrounding the proposed development, or such surrounding roads are proposed to be improved to accommodate the development. - 14 - Staff Finding The Applicant is not proposing any physical alteration to the existing structure or site. The access and parking for the Little Red Ski Haus was contemplated and considered sufficient during the review of the original PUD applications. Staff finds this criterion to be met. J. PhasiNK of Development Plan. The purpose of these criteria is to ensure partially completed projects do not create an unnecessary burden on the public or surrounding property owners and impacts of an individual phase are mitigated adequately. Ifphasing ofthe development plan is proposed, each phase shall be defined in the adopted final PUD development plan. The phasing plan shall comply with the.following: 1. All phases, including the initial phase, shall be designed to function as a complete development and shall not be reliant on subsequent phases. 1 The phasing plan describes physical areas insulating, to the extent practical, occupants Of initial phases from the construction of later phases. 3. The proposed phasing plan ensures the necessary or prof,ortionate improvements to public facilities, payment o.f impact fees and fees-in-lieu, construction of any facilities to be used jointly by residents of the PUD, construction of any required affordable housing, and any mitigation measures are realized concurrent or prior to the respective impacts associated with the phase. Staff Finding The Applicant is not proposing any physical alterations to the existing structure. Therefore, no phasing is proposed. Thus, staff finds this criterion not to be applicable to this application. -15- Subdivision REVIEW CRITERIA & STAFF FINDINGS Section 26.480 of the City Land Use Code provides that development applications for Subdivision must comply with the following standards and requirements. A. General Requirements: 1. The proposed subdivision shall be consistent with the Aspen Area Comprehensive Plan. Staff Finding Staff believes that the proposed request is consistent with the Aspen Area Community Plan. Staff does not feel that subdividing the proposed development for the purpose of allowing for the units to be owned under a fractional form of ownership is contrary to the goals of the AACP. The City has embraced the idea that timeshare development will help in maintaining a healthier year-round economy as a result of the higher occupancies that are predicted with timeshare development as is consistent with the goals of the Economic Sustainability portion of the AACP. Staff finds this criterion to be met. 2. The proposed subdivision shall be consistent with the character of existing land uses in the area. Staff Finding Staff believes that the proposed timeshare lodge use is consistent with the character of the existing land uses iii the surrounding area. The majority of the properties in the immediate vicinity are small lodging establishments or multi-family buildings consisting of three or more units. Staff believes that a lodge or a timeshare development is the appropriate land use for the subject parcel. Staff finds this criterion to be met. 3. The proposed subdivision shall not adversely affect the future development of surrounding areas. Staff Finding Staff does not believe that the proposed conversion of the Little Red Ski Haus Lodge to a timeshare lodge will have an adverse affect on the future development of the surrounding properties. Staff finds this criterion to be met. 4. The proposed subdivision shaH be in compliance with all applicable requirements of this Title. Staff Finding Staff believes that the proposed subdivision to allow for timeshare of the existing lodge in itself is in compliance with all the applicable requirements of the Land Use Code. - 16 - B. Suitability of Land for Subdivision a. Land suitability. The proposed subdivision shall not be located on land unsuitable for development because ofjlooding, drainage, rock or soil creep, mudflow, rockslide, avalanche or snowslide, steep topography or any other natural hazard or other condition that will be harmful to the health, safety, or welfare of the residents in the proposed subdivision. b. Spatial pattern efficient. The proposed subdivision shall not be designed to create spatial patterns that cause inejficiencies, duplication or premature extension of publicfacilities ancl unnecessary public costs. Staff Finding The subject site is currently developed and is not located in an area of geological hazard that would put the inhabitants in of the proposed development at risk. In addition, staff does not believe that the proposal will require duplication or extension of public facilities. Staff finds these standards not to be applicable. C. Improvements. The improvements setforth at Chapter 26.580 shall be provided .for the proposed subdivision. These standards may be varied by special review (See, Chapter 26.430) 4 the following conditions have been met: 1. A unique situation exists for the development where strict adherence to the subdivision design standards would result in incompatibility with the Aspen Area Comprehensive Plan, the existing, neighboring development areas, and/or the goals of the community. 2. The applicant shall specify each design standard variation requested and providejustification for each variation request, providing design recommendations by professional engineers as necessary. Staff Finding The Applicant is not proposing to physically alter the existing structure and the site improvements were made and accepted during the original PUD approval. Staff believes that sub-standards 1 and 2 are not applicable. D. Affordable housing. A subdivision which is comprised of replacement dwelling units shall be required to provide affordable housing in compliance with the requirements of Chapter 26.520, Replacement Housing Program. A subdivision which is comprised of new dwelling units shall be required to provide affordable housing in compliance with the requirements of Chapter 26.470, Growth Management Quota System. - 17 - Staff Finding The conversion of the existing lodge to a timeshare lodge does not currently require employee-housing mitigation if the Applicant is not doing a physical expansion to the number of bedrooms. It should be noted that staff is currently looking at the employee generation rates between a lodge and a timeshare lodge with a consultant and a conversion of this nature in the future may require mitigation. Staff finds this criterion to be met. E. School Land Dedication. Compliance with the School Land Dedication Standards setforth at Chapter 26.630. Staff Finding The Applicant is proposing a conversion to a timeshare lodge and there are no residential units being created in the proposed development. The school land dedication requirement is only applicable to subdivisions that add residential units. Therefore, staff finds this review standard not to be applicable to this application. F. Growth Management Approval. Subdivision approval may only be granted to applications for which all growth management development allotments have been granted or growth management exemptions have been obtained, pursuant to Chapter 26.470. Subdivision approval may be granted to create a parce[(s) zoned Affordable Housing Planned Unit Development (AH-PUD) without first obtaining growth management approvals if the newly created parceks) is required to obtain such growth management approvals prior to development through a legal instrument acceptable to the City Attorney. (Ord. No. 44-2001, Â§ 2) Staff Finding A conversion from a lodge to a timeshare lodge that does not add bedrooms does not require a GMQS allotment or exemption. Please see staffs response to review standard "D" above. Staff finds this criterion not to be applicable to this application. -18- Timeshare REVIEW CRITERIA & STAFF FINDINGS Section 26.590 of the City Land Use Code provides that development applications for Timeshare Lodge Development must comply with the following standards and requirements. A. Fiscal Impact Analysis and Mitigation. Any applicant proposing to convert an existing lodge to a timeshare lodge development shall be required to demonstrate that the proposed conversion will not have a negative tax consequence for the City. In order to demonstrate the tax consequences of the proposed conversion, the applicant shall prepare a detailed fiscal impact study as part of the final PUD application. The fiscal impact study shall contain at least the following comparisons between the existing lodge operation and the proposed timeshare lodge development: 1. A summary of the sales taxes paid to the City for rental of lodge rooms during the prior jive years of its operation. If the lodge has stopped renting rooms prior to the time of submission of the application, then the summary shall reflect the final five years the lodge was in operation. The summary of past taxes paid shall be compared to a projection of the sales taxes the proposed timeshare lodge development will pay to the City over the first five years of its operation. As part of this projection, the applicant shail specify the number of nights the applicant anticipates each timeshare lodge unit will be available for daily rental to visitors (that is, the annual number of nights when the unit will not be occupied by the owner or the owner's guests), the expected visitor occupancy rate for these units, the expected average daily cost to rent the unit, and the resulting amount of sales tax that will be paid to the City. 2. An estimation of the real estate transfer taxes that would be paid to tile City if the existing lodge were to be sold. If an actual sale of the property has occurred within the last 12 months, then the real estate taxes paid for that sale shall be used. This estimation shall be compared to a projection of the real estate transfer taxes the proposed timeshare lodge development willpay to the City over thefirstfive years ofits operation. This projection shall include a statement of the expected sales prices for the timeshare estates, and the applicable tax rate that will be applied to each sale. 3. A summary of the City-portion of the property taxes paid for the lodge for the prior Jive years of its operation, and a projection of the property taxes the proposed timeshare lodge development wit[ pay to the City over the Jirst five years of its operation. This projection shall include a statement of the expected value that will be assigned to the property by the Tax Assessor, and the applicable tax rate. - 19 - The fiscal impact study may also contain such other information that the applicant believes is relevant to understanding the tax consequences of the proposed development. For example, the applicant may provide information demonstrating there will be "secondary", or "indirect" tax benefits to the City from the occupancy of the timeshare units, in terms of increased retail sales and other economic activity in the community as compared to the existing lodge development. The applicant shall be expected to prove definitively why the timeshare units would cause such economic advantages that would not be achieved by a traditional lodge development. Any such additional information provided shall compare the taxes paid during the prior five years of the lodge's operation to the firstfive years of the proposed timeshare lodge's operation. If the fiscal impact study demonstrates there will be an annual tax loss to the City from the conversion of an existing lodge to a timeshare lodge, then the applicant shall be required to propose a mitigation program that resolves the problem, to the satisfaction of the Aspen City Council. The accepted mitigation program shall be documented in the PUD Agreement for the project that is entered into between the applicant and the Aspen City Council. Staff Findings The City Finance Director is still reviewing the tax implications and will provide City Council with comments regarding the tax implications prior to the hearing as was detailed earlier in the memo. B. Upgrading of Existing Projects. Any existing project that is proposed to be converted to a timeshare lodge development shall be physically upgraded and modernized. The extent of the upgrading that is to be accomplished shall be determined as part of the PUD review, considering the condition of the existing facilities, with the intent being to make the development compatible in character with surrounding properties and to extend the useful life of the building. 1. To the extent that it would be practical and reasonable, existing structures shall be brought into compliance with the City's adopted fire, health, and building codes. 2. No sale of any interest in a timeshare lodge development shall be closed until a certificate of occupancy has been issued for the upgrading. Staff Finding The Applicant is not proposing to further upgrade the structure because the structure was brought into compliance with the applicable fire, health, and building codes as part of the lodge's remodel and expansion just about a year ago. Additionally, the lodge has already -20- completed their remodel and has a certificate of occupancy. Staff finds this criterion to be met. C. Preservation of Existing Lodging Inventory. An express purpose of these regulations is to preserve and enhance Aspen's existing lodging inventory. Therefore, any proposal to convert an existing lodge or other property that provides short term accommodations to a timeshare lodge should, at a minimum, replace the existing number of units on the property in the planned timeshare lodge. If the applicant is unable to replace the existing number of units, then the timeshare lodge development shall replace the existing number of bedrooms on the property, or the applicant shall demonstrate how the proposal complies with the purposes of these regulations, even though the planned timeshare lodge will not replace either the existing number of units or bedrooms. Staff Finding The Applicant is proposing to convert the existing lodge rooms to timeshare lodge rooms. Additionally, the Applicant is not proposing to reduce the number of accommodation bedrooms. Therefore, staff finds this criterion to be met. D. Affordable Housing Requirements. 1. Whenever a timeshare lodge development is required to provide affordable housing, mitigation for the development shall be calculated by applying the standards of the City's housing designee for lodge uses. The affordable housing requirement shall be calculated based on the maximum number of proposed lock out rooms in the development, and shall also take into account any retail, restaurant, conference, or other functions proposed in the lodge. 2. The conversion of any multi-family dwelling unit that meets the definition of residential multi-family housing to timesharing shall comply with the provisions of Chapter 26.530, Resident Multi-Family Replacement Program, even when there is no deniolition of the existing multi-family dwelling unit. Staff Finding The current land use code standards do not require a conversion from a lodge to a timeshare lodge to mitigate for employee housing if an expansion is not taking place. Moreover, the existing growth management requirements treat the lodge and timeshare lodge uses as being equal in regards to employee generation. However, it should be noted that staff is working with a consultant to look into how timeshare lodge units compare with lodge units in relation to employee generation. Staff finds this criterion not to be applicable to this application. E. Parking Requirements. - 21 - 1. The parking requirement for timeshare lodge development shall be calculated by applying the parking standard for the underlying zone district for lodge uses. The parking requirement shall be calculated based on the maximum number of proposed lock out rooms in the development. 2. The timeshare lodge development shall also provide an appropriate level of guest transportation services, such as vans or other shuttle vehicles, to offer an alternative to having owners and guests using their own vehicles in Aspen. 3. The owner Of a timeshare estate shaN be prohibited from storing a vehicle in a parking space on-site when the owner is not using that estate. Staff Finding The existing lodge currently has three (3) on-site parking spaces for a total of fourteen (14) lodge rooms. This provides a parking ratio of .21 parking spaces per lodging bedroom, which was established as acceptable through the recent PUD approval. When the PUD for the remodel and expansion of the lodge was reviewed, it was reviewed under the premise that there would be occasions when the lodge would reach 100% occupancy. Staff does not believe that converting the lodge to a timeshare lodge will ever push the occupancy level at one time over the 100% occupancy level that was considered in the PUD review. Therefore, staff believes that the existing parking is sufficient to accommodate the proposed conversion. Additionally, staff has proposed a condition of approval that does not allow for a timeshare owner to store their vehicle on-site when. they are not staying at the lodge. Staff finds this criterion to be met. F. Appropriateness of Marketing and Sales Practices. The marketing and sale of timeshare estates shall be governed by the real estate laws set forth in Title 12, Article 61, C.R.S., as may be amended from time to time. The applicant anci licensed marketing entity shall present to the City a plan for marketing the timeshare development. 1. The following marketing and sales practices for a timeshare development shall not be permitted: a. The solicitation of prospective purchasers of timeshare units on any street, mall, or other public property or facility; and b. Any unethical sales and marketing practices which would tend to mislead potential purchasers. Staff Finding The Applicant has represented in their application that they will not solicit purchasers on public property. In addition, the Applicant has consented to comply with the timeshare marketing regulations that are set forth iii the Colorado Revised Statues. Therefore. staff finds this criterion to be met. - 22 - 2. Giving of gifts to encourage potential purchasers to attend a sales presentation or to visit a timeshare development is permitted, provided the gift reflects the local Aspen economy. For example, gifts for travel to or accommodations in Aspen, restaurants in Aspen, and local attractions (ski passes, concert tickets, rafting trips, etc.) are permitted. Gifts that have no relationship to the local Aspen economy are not permitted. The following gifts are also not permitted: a. Any giftfor which an accurate description is not given; b. Any gift package for which notice is not given to the prospective purchaser that the purchaser will be required to attend a sales presentation as a condition Of receiving the gifts; and c. Any gift package for which the printed announcement of the requirement to attend a sales presentation is in smaller typeface than the information on the gift being offered. Staff Finding The Applicant has consented to meeting this criterion in their marketing plan that is included in the application, including giving only gifts that are locally serving and oriented. Staff finds this criterion to be met. G. Adequacy of Maintenance and Management Plan. The applicant shall provide documentation and guarantees that the timeshare lodge development will be appropriately managed and maintained in an manner that will be both stable and continuous. This shall include an identification of when and how maintenance will be provided, and shall also address the following requirements: 1. A fair procedure shall be established for the estate owners to review and approve any fee increases which may be made throughout the life of the timeshare development, to provide assurance and protection to timeshare owners that management/assessment fees will be applied and used appropriately. 2. The applicant shall aiso demonstrate that there will be a reserve fund to ensure that the proposed timeshare development will be properly maintained throughout its lifetime. Staff Finding The annual budget for the units is to be reviewed and approved by a majority of the owners or the board of directors of the owner' s association who are to be elected by a maj ority vote of the owners. A capital reserve fund will also be set up and will be shown in the budget to be submitted prior to the City Council hearing regarding this issue. The amount of this - 23 - capital reserve fund is to be studied on a yearly basis to determine if it is adequate. Staff finds this criterion to be met. H. Compliance with State Statutes. The applicant shall demonstrate that the proposed timeshare lodge development will comply with all applicable requirements of Title 12, Article 61, C.R.S.; Title 38, Article 33, C.R.S.; and Title 38, Article 33.3, C.R.S.; including the requirements concerning thefive (5) day period for rescission of a sales contract, and the procedures for holding deposits or down payments in escrow. Staff Finding The Applicant has consented to complying with all of the statutory requirements that govern tinieshare development. The Applicant will be required to submit instruments for review by the City Attorney's Office and recordation at the Pitkin County Clerk and Recorder's Office. Staff finds this criterion to be met. I. Approval By Condominium Owners. If the development tliat is proposed to be timeshared is a condominium, the applicant shall submit written proof that the condominium declaration allows timesharing, that one hundred (100) percent of the owners of the condominium units have approved the timeshare development, including any improvements to the common elements that the applicant may propose, that all mortgagees of the condominium have approved the proposed timeshare development, and that all condominium units in tile timeshare development will be included in the same sales and marketing program. Staff Finding The proposed development does not involve conversion of an existing condominium into a timeshare. Therefore, staffdoes not findthis criterion applicable to this project. J. Prohibited Practices and Uses. Without in any way limiting any requirement contained in this Chapter, it is unlawful for any person to knowingly engage in any ofthefollowing practices: 1. The creation, operation or sale of a right-to-use interest or any other timeshare concept which is not specifically allowed and approved pursuant to the requirements of this section. Right-to-use timeshare concepts (e.g. lease-holds and vacation clubs) are considered inappropriate in Aspen and are not permitted. 2. Misrepresentation of the facts contained in any application for timeshare approval, timeshare development instruments, or disclosure statement. 3. Failure to comply with any representations contained in any application for timesharing or misrepresenting the substance of any such application to another who may be a prospective purchaser of a timeshare interest. - 24 - 4. Manage, operate, use, offer for sale or sell a timeshare estate or interest therein in violation of any requirement of this Chapter or any approval granted pursuant hereto, or cause or aid and abet another to violate any requirement of this Chapter, or an approval granted pursuant to this Chapter. Staff Finding The Applicant has consented in the proposed application to meeting the requirements of the timeshare section of the City of Aspen Land Use Code in addition to the statutory requirements for operating timeshare development. Staff finds this criterion to be met. - 25 - - 8* 1.,4 29 3 Ittl MD RCM.*.R .41D 1 . 2 RFC /9 16,20 1 4-: ~Efi - 2 I- -se I 10 .0â€¢1â€¢a yv~SÂ« --,0 I 0-5 7#,Â» I Â¢râ€¢= , 6 =AA, , - IPE . ,. -6==2 r : InÂ»{P Mt0â€¢R '119 - CL_~=,- ALI~Y -=r=#-- 2~A:ED Â· /4 (49 â€¢W I - 1-_--1, i C-) , Pt : 5-3411 0 6* -- 1 s .1 4 I #*07Mi kit 0.... 9- 0 -1. Â¥1.'riy= 0 ' 1 'Pft' . 1.- *=/- r .721-4/ IN |1 1- Tâ€¢*. 9 - - - :4 1 ' 1 , 0-0/1 I li r- VX: -&#. :%:522'r4iKIN2~1;Ellk:kktl:4}2&?lf?16$*46-: HERIB&824.:36:kil# - 17 34 - d / g .14 41 : I hÂ· g ir - -1 0 CNI - 4'.c.=W= . J'.1 â‚¬EP- --llr.Er LOT N ==+- j -- LOT P - *WMN"IMP:%4 - == 4 Â¤ - -_ 0 21'. 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L 2003 10:10AM STEWART TITLE A NO. 9457 P 27 ~ 00 L<114- 948(" RESOLUTION NO. 26 (SERIES OF 2003) A RESOLUTION OF THE ASPEN PLANNING AND ZONING COMMISSION RECOMMENDING THAT CITY COUNCIL APPROVE THE LITTLE RED SKI HAUS PLANNED UNIT DEVELOPMENT AMENDMENT, SUBDIVISION, AND TIMESHARE APPLICATION ON THE PROPERTY DESCRIBED AS LOT O AND THE WEST HALF OF LOT P, BLOCK 69, CITY AND TOWNSITE OF ASPEN, PITKIN COUNTY, COLORADO Parcel No. 2735-124-71-005 WHEREAS, the Community Development Department received an application from Little Red Ski Haus LLC, owner, represented by Gouger & Franzmann, LLC, requesting approval of a Planned Unit Development Amendment, Subdivision, and Timeshare to convert the existing Little Red Ski Lodge to a timeshare lodge on the property described as Lot O and the West one-half of Lot P, Block 69, City and Townsite of Aspen; and, WHEREAS, the subject property is located in the Residential Multi-Family (R/MF) Zone District with a Lodge Preservation (LP) and PUD Overlay; and, WHEREAS, pursuant to Land Use Code Section 26.304.060(B), Combined Reviews, the Community Development Director in consultation with the applicant has concluded that a combined review of the land use requests associated with this application would reduce duplication and ensure economy of time, expense, and clarity: and, WHEREAS, pursuant to Land Use Code Section 26.445, Planned Unit Development; Section 26.480. Subdivision; and, Section 26.590, Timeshare, the City Council may approve. approve with conditions, or deny the land use requests made by the Applicant during a duly noticed public hearing after taking and considering comments from the general public, and recommendations from the Planning and Zoning Commission, Community Development Director, and relevant referral agencies; and, WHEREAS, during a duly noticed public hearing on November 4. 2003, the Planning and Zoning Commission reviewed and considered the development proposal under the applicable provisions of the Municipal Code as identified herein and approved this resolution, by a seven to zero (7-0) vote; approving the proposed requests with the conditions o f approval contained herein; and, WHEREAS, the Planning and Zoning Commission finds that the development proposal meets or exceeds all applicable development standards and that the approval of the development proposal. with conditions, is consistent with the goals and elements of the Aspen Area Community Plan; and, WHEREAS, the Planning and Zoning Commission finds that this resolution furthers and is necessary for the promotion ofpublic health, safety, and welfare. NOW, THEREFORE, BE IT RESOLVED BY THE CITY OF ASPEN PLANNING AND ZONING COMMISSION AS FOLLOWS: Section 1: Pursuant to the procedures and standards set forth iii City of Aspen Land Use Code Section 26.445, Planned Unit Development, Section 26.480, Subdivision: and Section 26.590. Timeshare. the Planning and Zoning Commission hereby recommends that City Council approve a PUD Amendment, Subdivision. and Timeshare request to allow for the Little Red Ski llaus Lodge located at 118 E. Cooper Avenue to convert to a timeshare lodge with the following conditions: 1. The approved fractional interest breakdown is as follows: Number of Units Description Number of Fractional Number of Weeks Ownership Interests Allocated to Each Available per Unit Fractional Ownership Interest 1 Luxury Suite 16 3 Weeks (Consisting of 2 of the existing lodge rooms) 3 Executive/Family 16 3 Weeks 3 Historic King 16 3 Weeks 3 Standard King 16 3 Weeks 2 Bunk Rooms 16 3 Weeks 2. The City of Aspen Finance Department shall conduct an annual audit of the sales tax revenues that the City collects from the Little Red Ski Haus Lodge over its first five (5) years of operation as a timeshare lodge, to determine if the projected revenues are accurate. The Applicant shall cooperate with the Finance Department in its annual audit efforts. 3. Final Condominium Declarations shall be submitted to the City concurrent with the submission of the Condominium Subdivision Plat and shall include the following language regarding timeshare: a. Timeshare estates, including the four (4) weeks per unit that are to be retained by the Applicant, shall be made available for short-term rental when the estate is not in use by the owner of the unit, the owner's guests, or persons occupying the unit under an exchange program. Units that are available for rental shall be listed at competitive rates in a central reservation system. b. The covenants of the homeowners association shall permit walk-in rental of units. The association shall not limit rental of units to such arrangements as only weekly rentals or Saturday-to-Saturday rentals; instead the association shall permit shorter stays, split-week rentals, and similar flexible arrangements. c. Owners of timeshare estates shall be required to reserve their unit/time sufficiently far enough in advance to enable the public to obtain access to those units that are not so reserved. The term "sufficiently" shall be specifically defined as full month (30 days) prior to the first day of the intended stay. d. The owner of a timeshare estate shall not be permitted to occupy that estate for any period in excess of thirty (30) consecutive calendar days. e. The owner of a timeshare estate shall be prohibited from storing a vehicle in a parking space on-site when that owner is not using the estate. 4. The Applicant shall submit all timeshare documents and disclosure statements to the City Attorney for review prior to their recordation at the Pitkin County Clerk and Recorder's Office. 5. Each owner of an estate shall have an iiiidivided interest in the common recreational areas within the facility. 6. The timeshare lodge units that remain in the developer's inventory shall be made available for rental to the public while the estates are being sold, except for models and other units that are needed for marketing or promotional purposes. Section 2: All material representations and commitments made by the applicant pursuant to the development proposal approvals as herein awarded, whether in public hearing or documentation presented before the Planning and Zoning Commission or City Council, are hereby incorporated in such plan development approvals and the same shall be complied with as if fully set forth herein. unless amended by an authorized entity. Section 3: This resolution 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. Section 4: If any section. subsection, sentence, clause, phrase, or portion of this resolution 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. APPROVED BY the Planning ancl Zoning Commission of the City of Aspen on this 4th day of November, 2003. APPROVED AS TO FORM: PLANNING AND ZONING COMMISSION: City Attorney Jasmine Tygre, Chair ATTEST: Jackie Lothian, Deputy City Clerk 1--A Kinit ~/ ASPEN PLANNII ./J U L ONING COMMISSION Minut-.Vovember 04,2003 David Hoefer said that the approval or denial should not be based upon speculation. Hoefer said that variances and appeals as on this situation were not designed to be something that is easy to do. A regular variance should rarely be granted but only in unusual circumstances. Hoefer said that there was no precedence allowed in land use. Roger Haneman noted that just because house was built with non-orthogonal windows doesn't allow this particular situation to be accepted. Eric Cohen stated that this was not the place to decide whether you agree with the rules but stick with what the rules are. Jasmine Tygre agreed with Eric's comment. John Rowland said that it clearly doesn't conform with the rules and he did not think the success of this building would be hampered by orthogonal windows at all. Rowland said it was an attractive house and other elements would make it juist as successful. David Hoefer noted that Steve Skadron would be voting and John Rowland would be the non-voting member. MOTION: Ruth Kruger moved to approve Resolution #25, series 2003, for a variance to the residential design standards to allow for more than one non- orthogonal window on each fagadefor the residence at 253 SilverLode Drive, Lot 11, SilverLode Subdivision. Roger Haneman seconded. Roll cal vote: Johns, yes; Skadron, yes; Haneman, no; Cohen, no; Johnson, yes; Kruger, yes; Tygre, no. Approved 4-3. PUBLIC HEARING: LITTLE RED SKI HAUS PUD AMENDMENT, SUBDIVISION, TIMESHARE Jasmine Tygre opened the public hearing for the Little Red Ski Haus PUD Amendment, Subdivision and Timeshare located at 118 East Cooper. David Hoefer stated that three affidavits were provided. Steve Skadron would be the alternate on this for voting purposes. Joyce Allgaier provided the commission with the timeshare changes that took place at the end of 2002 (Ordinance #21-02) addressing fractional ownership. Allgaier said the Planning Commission had a good position that these could be good for Aspen so the regulations were worded the way they are so that fractional ownerships or timeshares to replicate what the lodges were like with desk people, staff in the lobby with a reception desk, concierge with amenities, as many beds as 5 ASPEN PLANNIT .u U 21 ONING COMMISSION Minute, 14ovember 04,2003 the lodges had as well as units. The rooms/units should not be exclusive but open and put into an available rental pool for the general public. Allgaier said they would not regulate the ownership but would regulate the use. James Lindt commented that Little Red Ski Haus came through with the PUD a year and a half ago to expand the lodge. It currently has 13 lodge units and a proposal to fractionalize to one-sixteenth (1/16); the applicant will rent to the public 4 weeks of each year for each unit during the higher occupancy times. The City Council will review the tax implications of the fractional ownership. P&Z will discuss the operational characteristics of the proposed timeshare. Staff believed it met the requirements with amenities sufficient to the lodge with on-site dining facilities conditioned that the restaurant couldn't advertise separately. There were laundry facilities, a Jacuzzi and front desk on site. Mike Franzmann introduced Bill Gouger representing the Little Red Ski Haus applicant and Beverly Fiore, one of the lodge owners. Franzmann explained that it was very difficult to operate a small bed and breakfast at a profit; the fractional ownership proposal meets both criteria because it allows a high turn over o f rooms and preserves the lodge. Bill Gouger mentioned that the lodge received an award for the remodel and the current issue of SKI Magazine has an article on the Little Red, which confirms that this is a unique property and a viable way to preserve this property as a lodge. Beverly Fiore said that the day-to-day operations would remain the same with a live-on site host and she said that she was there daily; the lodge was run very personal. Ruth Kruger asked how long have they been open and operating. Beverly Fiore replied that it will be 2 years in December that they have owned it but it was closed that next spring and reopened last December after extensive remodeling. Kruger asked what kind of reservation system would they be tied into. Fiore answered they work with Stay Aspen, Aspen Ski Tours, 3 Australian Tour Groups and on- line booking. Kruger asked why the timeshare element was not brought through the first time. Lindt replied that it wasn't part of the original application because the applicant didn't think about timeshare at that time. Franzmann said that just getting through the renovation was enough and after it was finished they thought about the timeshare. Jasmine Tygre said that the prior minutes and resolution were helpful. Steve Skadron asked how the occupancy percentages were since the remodel and prior to. Fiore replied that she did not have them in hand but said that last February was good but March and April were down. Fiore said she has seen growth. Gouger said that the lodge had been closed for almost a year for 6 ASPEN PLANNI 1/<J 4% Zi ONING COMMISSION Minut C, 1 Qovember 04,2003 renovation. Skadron asked how the timeshare will increase the numbers for the lodge. Franzmann stated that they prepared research to compare traditional occupancy rates based upon fractional ownership versus lodging. Gouger said the fractional ownership owners on an average use their properties 85% of the time with the combination o f keeping some high season available for non-ownership rentals. John Rowland asked the process for getting one of the rooms into the rental pool; how much lead-time does the owner need for notification. Franzmann replied the weeks will float from year to year and be one to two years in advance; there would be an incentive for the owner to rent the units when not being used. Lindt noted that the timeshare ordinance required sufficient notice but doesn't define what sufficient notice is or as to what a lead-time should be. Lindt said the applicant proposed a month prior to not using the unit. Eric Cohen asked what happens when a certain number of fractions sell but not enough to make a difference. Gouger responded that if not more than 10% of the fractional units sell, then they would not go to a fractional ownership and change the ownership of the property. Cohen asked how many bunks were in the bunk rooms and how would they be fractionalized. Franzmann replied that the 2 rooms were fractionalized and not the beds. Jack Johnson asked how the lead-time would be policed. Lindt said that there was a month lead-time in the resolution and staff would follow-up. Franzmann said that they wanted to have the rooms available for the X-Games, Comedy Fest, Food and Wine and Christmas. Johnson asked if there was discussion of lodges of this size becoming fractional. Joyce Allgaier said it wasn't something that was overlooked; it was contemplated that there could be all kinds o f varieties o f time- shares. Cohen asked when the time for maintenance of the property would be reserved. Gouger replied that 25 of the 192 possible fractional interests would not be sold to the public but the various owners of the LLC would retain ownership and the maintenance would be included in that time frame. Tygre asked how the operations plan was enforced and what happens if it doesn't function the way it was approved. Lindt responded that if it was operating differently than the approved P&Z or Council operations plan then staff would have to do enforcement. Allgaier stated that there would be a PUD agreement for enforcement and the condominium declarations and covenants. David Hoefer said that the practical matter was that enforcement was extremely difficult; if it 7 ASPEN PLANNII .ak LONING COMMISSION hinut C, 1 Qovember 04,2003 concerned the city it would be addressed but the individual landowner covenants were not enforceable by the city. Tygre asked if the PUD agreement would contain the operations plan. Lindt replied that it would. Kruger asked if there was a GMQS exemption. Lindt responded that there was a growth management exemption for lodge preservation originally for the expansion. Kruger asked if the affordable housing requirements were any different in this process than the previous one. Lindt answered the existing lodge gained growth management exemption during the first PUD; at that time growth management treated a lodge the same as a timeshare. Lindt said that they were not expanding therefore there would be no increase in employee generation; there was an increase in square footage but a decrease in bedrooms. Lindt said that there was a stipulation in the final council ordinance that was approved that would require an addition to the lodge become a deed-restricted unit if the lodge reverted back to a single-family house through a change in use process. Kruger asked how big the project was. Lindt said that there were about 6000 square feet above grade. Public Comments: Heddy Longworth stated that she was a realtor with Mason and Morse. Longworth said that people were making plans with less lead-time from current research with just a month or two in advance. Ruth Kruger said that she was conflicted with the issue but the previous time shares that the commission reviewed were larger time-share lodge with many more hotbeds and systems for the marketing and management. Kruger said she knew the lead-time was less in this market but voiced concern for this to be successful in the neighborhood and community. Steve Skadron stated that this made sense for the lodge and the community; there were issues of accessibility, diversity and community balance that come into play here. Skadron sees it as an important point of entry with the price point for the units for ownership, which was a portion of the buying public previously excluded. Skadron said this was a full step on local owners to address a significant need and complimented the applicant. Eric Cohen said that part of the original PUD granted additional floor area based on the needs of a lodge, now the property is being condominiumized and selling off the additional FAR that was granted for lodge use. Cohen voiced concern over - the additional FAR being sold off, the loss of another room (now 12 rooms from the original 22), which was an ongoing problem. 8 ' ASPEN PLANNII .-IJ L. Â£=ONING COMMISSION Nimut...Vovember 04,2003 Roger Haneman said that the arguments that Eric just made seem to be the same arguments Roger used against the St. Regis Time Share. Haneman stated that he was in favor of this project; he suggested a one bedroom have a one-month lead- time, the two-bedroom a two-month lead-time. Haneman said this applicant was the closest to what P&Z proposed for the time-share ordinance guidelines. Jack Johnson said that he was concerned about other lodges in town coming forward with time-share proposals but would not answer to the arbitrarily or artificially high rates therefore leading to lower occupancy rates. Johnson noted that was not the criteria by which he was to judge this project therefore he did not have an issue with the specific proposal. Jasmine Tygre stated that the commissioners made good comments because the commission was unsure what time shares would do for the community down the road; assumptions were made on time share applications and fractional ownerships based upon the occupancy rate given by the developers or owners. Tygre said it was not just this application but all of the fractional/time share applications out there were unknown as to what it will do to the hotbed base. Tygre noted the criteria that the commission had to judge the project were fulfilled. John Rowland asked if this had to always remain a lodge. Lindt replied that they could apply for a change in use application for a single-family dwelling and it is on the historic inventory. Rowland said that he was in favor of it and felt it was a step in the right direction. MOTION: Ruth Kruger moved to approve Resolution #26, series 2003, recommending City Council approve a PUD amendment, subdivision and timeshare lodge development request to allow for the Little Red Ski Haus, 118 East Cooper to convert to a timeshare lodge with the conditions set forth. Roger Haneman seconded. Roll call vote: Rowland, yes; Johnson, yes; Johns, yes; Cohen, yes; Haneman, yes; Kruger, yes; Tygre, yes. APPROVED 7-0. Mike Franzmann thanked the commission for their thoughtful questions, professionalism, fairness and consideration. MOTION: Ruth Kruger moved to request City Council direct staff to re-evaluate the Residential Design Review Standards because many ofstandards were inappropriate for many of the reviews that come before the Planning & Zoning Commission. Seconded by Jack Johnson. APPROVED 7-0. Meeting adjourned at 6:30 p.m. Jackie Lothian, Deputy City Clerk 9 P69 THE CITY OF AspEN Memorandum To: Aspen City Council Members Thru: Steve Banvick, City Manager ~~~0~~ From: Paul Menter, Director of Finance and Administrative S /1 Date: 12/10/03 CC: James Lindt, City Planner Scott Newman, Financial Analyst (Temporary) Re: Little Red Ski Haus, Timeshare.mitigation fee staff recommendation Summarv: Attached please find an analysis and recommendation for a timeshare mitigation fee for the proposed Little Red Ski House timeshare conversion project. Staff recommends a fee of $82,471 (see Attachment A). This fee was calculated in a manner consistent with the provisions of Aspen Municipal Code Section 265,590.070 and its associated code interpretation approved and made effective March 17,2003 (see Attachment B). Analysis: While the applicant and the City utilized the same methodology for calculating the timeshare mitigation fee, the applicant arrived at a lower fee amount. This is because the applicant utilized actual data from the past year's operations to estimate the lodge's average room rate of $130 and average annual occupancy rate of 40Â°/o (rounded up from 35%0) in future years as the basis for calculating the future value of lost tax collections. By using these factors and the City's methodology, the applicant calculated a fee of $38,732 (see Attachment C). By comparison, City staff utilized the applicants' initial estimate of an average future room rate of $200, and an average annual occupancy rate of 53% to calculate the future value of lost tax collections to the City. Because the applicants' initial estimate is higher for both average room rate and occupancy rate, the result.is a higher estimate of lost tax revenue due to the December 10,2003 P70 conversion to timeshare, resulting in a higher fee of S82,471. Staffbelieves that the use o f the estimated future occupancy rate and room rate is a better indicator of future tax impact to the City of Aspen of lost lodge rooms than an historic average, particularly in the case of a newly opened lodge that with only a single year of activity for purposes of analysis. Staffs us of future projections is consistent with the methodology utilized to estimate the fee owed in the two most recently approved applications, those for the St. Regis, and for the Dancing Bear Lodge (Council will recall that in the case o f the Dancing Bear, no fee was owed). Additionally, as the Council is aware from James Lindt's memorandum, the applicant is requesting that the timeshare mitigation fee be waived in its entirety with respect to their application. Staff recommend against waiving the fee in its entirety. Council has not previously waived a timeshare mitigation fee. On a per week basis o f timeshare units sold, the proposed fee calculates to $143 per week (12 units x 48 weeks = 576 weekly units, divided into a fee of $82,471 = , $143). By comparison, the fee calculated for the timeshare impact of the recently approved St. Regis Hotel application came to $425 per week of timeshare sold (20 units x 44 weeks = 1,056 weeks divided into a fee of 6449,000 = $425 per week). As in all cases, the unique characteristics of this particular lodge, its size, estimated room and occupancy rates, generate a fee unique to the impact of this proposed development. In this case, the smaller lodge and rooms o f the Little Red Ski Haus result in a fee that is substantially lower than that in the case of the St. Regis. Findinos and Recommendation: Staff recommends application of a timeshare mitigation fee of S82,471. This fee is calculated in a manner consistent with the requirements of the Municipal Code, and with prior timeshare fee calculations for previously approved projects. Please feel free to contact me if you have questions regarding staffs reconimendation, or other issues regarding this analysis. 2 /li, ' , P71 Y pl Fic c k. Al. 3/ A . Memorandum To: Paul Mentor, Director of Finance From: Scott Newman, CFA Date: November 7,2003 RE: Little Red Ski Haus Timeshare Fiscal Impact Analysis ounimary David Fiore of the Little Red Ski Haus, LLC (LASH) is requesting a PUD Amendment in order to create a Fractional Ownership Development (FOD) of the Little Red Ski Haus. -Mr. Fiore has retained the services of Gouger & Franzmann, LLC Attorneys at Law (G&F) to aid in him in his efforts to that effect. 4 The City of Aspen's Com-munity Development Department has asked the Finance Department to opine on the accuracy ofthd analysis put forth in Fiscal Impact Analysisfor : Fractional Ownership Development. After reviewing this document, I conclude that the analysis put forth by the LRSH group is not consistent with the methodology required by the Aspen Municipal Code Section 26-590-070 and the City of Aspen Community Development Department Land Use Code Interpretation of Section 26.590.070 (A) effective March 17, 2003 (Code Interpretation), on several counts. This memo outlines my analysis of Fiscal Impact Analysis for Fractional Ownership F Development and recommends a mitigation fee of $82,471. Analysis - The Little Red Ski Haus is a histoic award-winning ski lodge located at 118 East Cooper ; Avenue between South Aspen Street and South Garmisch Street in the City of Aspen. The . : original structure was built in 1888 and underwent an extensive renovation in 2002. This ~" renovation resulted in the reduction of available guest rooms from 23 to 13 and an addition o f a 1000 square foot food and beverage facility. This renovation was undertaken "to meet the expectations oftoday's Aspen visitors." In Fiscal Impact Analysis .for Fractional Ownership Development, LBERbases its \ conclusions on a comparison of historical information to projected financial results of the i FOD. Unfortunately, actual sales and lodging tax collections data for the five-year period ! ending 2002 are unavailable from either the prior owner or the City. G&F provided an Z estimate of sales and lodging tax revenues based upon information provided by the cun'ent : l. owners. This estimate assumes an occupancy rate of 53Â°% and a room rate of $50 per night. ! P72 This appears to be a reasonable historical estimate of the lodge in its prior design. However, the renovation of 2002 reduced the number of available guest rooms from 23 to 13 in order to increase the size of most rooms. Therefore, the Little Red Ski House is no longer a 23 room budget lodge and, as such, the historical tax receipts no longer accurately represent the physital plant and character of tile structure. The City of Aspen Community Development Department Land Use Code Interpretation of Section 26.590.070 (A) effective March 17,2003 states: The code requires that projects should be evaluated by comparing the tax impact of existing facilizieS plus existing approvals (in combination, the "total project") to the total project plus the proposed timeshare. The existing facilities are a 13 room upscale lodge. Therefore, it would be reasonable and proper to compare the FOD proposal to the continuing operations of the existing structure and not the operations of the original strlicture. Usi-ng GAF's methodology and the occupancy and rate assumptions of the FOD proposal, I created a pro forma (heretofore known as Exhibit 221) for the lodge for the comparison ' period of 2004-2008. The LRSH assumes a historical occupancy rate of 53% (per ACRA) but also assumes a 100%-occupancy rate during four peak weeks. Exhibit 2a adopts this assumption. Section III of the Fractional Ownership Development Proposal (for) Little Red Ski Haus, LLC states that the Lodge will operate in a manner similar to a traditional lodging establishment when the Owners are not using their Fractional Ownership Interests. As outlined in Fiscal Impact Analysis for Fractional Ownership Development, LRSH will offer unsold units for rent to the public and intends to reserve 4 weeks per year out of the fractional ownership calendar in order to rent out the entire lodge to groups during peak weeks. LRSH has indicated that the average daily rate will be 5200 per night and average S275 per night during peak weeks. If LRSH believes that the market will bear averaee non-peak and peak daily rates for the FOD rooms of$200 and $275, it is reasonable to use these as the average non-peak and peak market rates for the continued operations of the lodge. Going forward I assumed 3.1% growth for both the average non-peak and peak daily rates. During the renovation. a 1000 square foot food and beverage facility was built. It is reasonable to believe that, in the continued operation of the lodge, this facility would be operational. LRSH estimates revenues of $150 per day and of direct tax revenues of $ 1210, annually. Going forward, I assumed 3.1% growth of direct tax revenues generated from the food and beverage operations. In determining indirect sales tax for the lodge, G&F assumes 2 people per room per night and average spending per day of $137 per person. Exhibit 2a adopts this assumption and applies a 3.1% growth component to it. 9 P73 Exhibit 25 is the pro forma for the FOD proposal. I made several adjustments. First, I broke out direct sales tax and lodging tax to comply with the Code Interpretation. Secondly, I was unable to determine G&Fs methodology for calculating initial room nights available to rent. Therefore, I used the FOD proposal assumptions of 12 units and 48 weeks, which results in 4,032 room nights available for rent. This adjustment provides an additional 154 available room nights and increased revenues for the FOD. The G&F analysis of indirect sales tax was presented as an average. I expanded this analysis in order to include a growth component to the average spending per day and to differentiate between the impact of owner occupancy and renter occupancy. One of the key selling points of fractional ownership to destination resorts is the potential for increased indirect sales taxes, due to an increased number of occupants per room and due to the propensity of FOD owners to purchase goods and services in town at a higher rate than traditional lodging guests. Therefore, it is not appropriate to apply a single group size and daily spending rate per person. The FOD proposal assumes an average party size ofthe 3 and a daily spending rate of $137 for both Owner and renter occupancy. I adjusted the owner daily spending rate up to $152 and adjusted the rental average party size down to 2 to reflect the differences between the two types of occupants. Exhibit 4 of Fiscal Impact Analysis for Fractional Ownership Development is the Real Property Tax Summary. In it historic property tax is compared to the FOD forecast of real property tax. Following any renovation or improvement, it is reasonable to believe that the vallie of the subject property will increase. By the same logic, absent of any extraordinary tircumstances, the property tax will also increase. Exhibit 4a is a comparison ofproperty tax forecasts for the FOD and the continued operations of property as a lodging facility for the comparison period of 2004-2008. Due to the extensive renovation that was completed in December 2002, historical property tax , collected is not an appropriate measure of comparison to the FOD- forecast. Regardless of the form of ownership or operation, the physical plant will be the same. Therefore, at time zero (year 2004), the tax basis should be the same. . In both the lodging Operation and FOD property tax forecasts, I assumed that the property will be reassessed in 2007 and that the assessed value of the land, improvements and commercial improvements will increase by 3.1%. It is custornary that when real estate is transacted that a new assessment be done on the subject property. It is reasonable to assume that each owner resale would be subject to a -new assessment. In the FOD property tax forecast, I assumed 3.1% growth to each resale share. 3 P74 Conclusions After reviewing both the Fractional Ownership Development Proposal (for) Little Red Ski Haus, LLC and the Fiscal Impact Analysis for Fractional Ownership Development and I conclude that the analysis put forth by the LRSH group is not consistent with the methodology required by Aspen Municipal Code Section 26-590-070 (A), on several counts. The Code Interpretation of Section 26.590.070 (A) states: The code reqllires that projects sholild be evalÂ·uated by comparing the tax impact of existingfacilizieS pLUS existing approvals (in combination, the "total project ) ro the total project plus the proposed timeshare. Due to the extensive renovations completed in December 2002, the existing facilities are not accurately represented by the historical infonnation. The Code Interpretation of Section 26.590.070 (A) states: The code requires that the applicant compile a tax impact for sales and lodging taxes, property taxes and real estate transfer taxes. This tax impact analysis should be completed on a tax-to-tax basis, as opposed to an overall basis. The mitigation program atithorized by this section should be calctilated for each individual mr, nor as a whole of the taxes identified in this section. The reason for segregating the fee calculation is because the taxing sources are not intercha-ngeable in terms of their applicability to providing City services. Based upon the following statement from the Fiscal Impact Analysis for Fractional Ownership Development, it appears that LRSH's conclusions were drawn from aggregate tax effects and not on a tax-to-tax basis. "City of Aspen tax revenue generated from the proposed fractional ownership development will exceed existing lodge revenues by approximately $15,000 (adjusted to 2003 dollars) annually, or $76,000 over the five year comparative period." After having analyzed the tax collections and trends thereof, I contend that the comparison period does not accurately represent the expected operations of the FOD. All of the taxes under consideration are driven by number of FOD shares sold. Room nights rented drives both Sales Taxes-Direct and -Lodging Tax. As more shares are sold, the number of available room nights for rent decreases, resulting in fewer Sales and Lodging Tax collections. Sales Taxes-Indirect are diven by owner occupancy. As more shares are sold, owners, who travel in larger group sizes and spend more in town per person than do traditional lodging guests, occupy more room nights. Therefore resulting in increased P75 collections of Sales Taxes-Indirect. By definition, Real Estate Transfer Taxes increase as shares are sold and decrease when sales activity slows. It is not until all shares are sold, that the City can get an accurate picture ofanticipated revenues from the FOD. The City can expect a Sales Taxes-Direct and Lodging Tax collections to decrease until all shares are absorbed and then to remain somewhat stable. By the same token, Sales Taxes-Indirect can be expected to increase until full absorption and then to remain relatively stable. Once all the shares are absorbed, the FOD proposal estimates that five percent of the shares will sell annually. Therefore, annual Real Estate Transfer Tax collections can be expected to decrease significantly from the levels experienced during the comparative period. The FO-D proposal anticipates that all shares will be sold by year-end 2008. It is for this reason that I believe that the level of taxes collected in 2008 is more representative of what can be expected for the life of the project than will an average of the taxes collected for years 2003-2008. In determining a mitigation fee, I discounted the 2008 collections to represent 2003 price levels and calculated any negative annual effect to the City. I then treated this negative annual effect as a constant stream of cash flows for the life of the project and calculated the present value of this annuity to determine the mitigation fee. Recommendations The Fiscal Impact Analysis for Fractional Ownership Development concludes "a Fractional Ownership Development of the Little Red Ski Haus will be positive fiscally for the City of Aspen and Pitkin County for every one of the tax categories considered in this 11 analysis. My analysis, utilizing the methodology and assumptions listed above find otherwise. Both Projected Sales TÂ·ax-Direct and the City Portion of the County Sales Tax-Direct fall significantly. The annual Sales Tax-Direct projected from existing operations is $13,156 while the annual Sales Tax-Direct projected from the FOD is $3,255. The annual City Portion of County Sales Tax-Direct projected from existing operations is $4,904 while the annual City Portion of County Sales Tax-Direct projected from the FOD is $854. The negative annual effect on the City is $13,950. On the other hand, the projected collections of Sales Tax-Indirect and the City Portion of County Sales Tax-Indirect increase dramatically. The annual Sales Tax-Indirect projected from existing operations is 515,629 and increases to $34,857 under the FOD proposal. The annual City Portion of County Sales Tax-Indirect projected from existing operations is $6,394 and increases to $14,260 under the POD proposal. The annual effect for both taxes is an increase of $28,094. 5 P76 Projected Lodging Tax collections suffer in much the same way as Sales Tax-Direct. The Lodging Taxes projected from existing operations is $5,449 while the annual Lodging Tax projected from the FOD is 3949. The negative annual effect to the City is $4,500. Over the five year comparative period, projected Real Estate Transfer Tax collections are expected to increase significantly. It is not reasonable to anticipate a sale of the existing operation during this period. The average annual Real Estate Transfer Tax collections are projected to be $17,981. Projected Property Tax collections are expected to increase ever so slightly. The annual Sales Tax-Direct projected from existing operations is $2,229 while the annual Sales Tax- Direct projected from the FOD is $2,237. I agree with LRSH, that the Fractional Ownership Development of the Little Red Ski Haus will be bene ficia[ the City. Direct Sales Tax collections will suffer due to the change in ownership structure and revenue composition of the Little Red Ski Halls. However, due to additional visitors that the FOD will attract and their increased propensity to spend in town, the increase in Indirect Sales Tax collections should offset these decreases. Given the large number of real estate transactions, the collection of Real Estate Transfer Taxes will Signi ficantly increase for the absorption period. The increase to property tax collections will be minimal. Where the City will be negatively impacted is Lodging Tax collections. To mitigate for the decrease in Lodging Tax Collections, I recommend a fee of $82,471. f 6 , P77 Mitigation Fee Calculation Application of AMC 26-590-070 to Little Red Ski Haus Application Annual Negative Expected Life At ustment 2008 2008 Annual Effect of Fractional for Future Tax Description Existing Proposed to City Improvement Value TOTAL FEE Sales Tax -Direct $13,156 $3,255 $9,900 Sales Tax - Indirect $15,629 $34,857 County Sales Tax - Direct $4,904 $854 $4,050 County Sales Tax - Indirect $6,394 $14,260 Total Sales Tax $40,082 $53,226 30 27.50 3.10% 50 Lodging Tax 55,449 $949 34,500. 27.50 3.10% $82,471 Real Estate Transfer Tax $0 517,981 $0 27.50 3.10% $0 Property Tax $2,229 $2,237 $0 27.50 3.10% $0 Total Recomrnended Fee: $82,471 P78 CITY OF ASPEN COMMUNITY DEVELOPMENT DEPARTMENT LAND US-E CODE INTERPRETATION APPLICABLE CODE SECTION: .Section 26.5Â·90.070- (A) /Titries/mref Fiscal Impact Analysis and Mitigation EFFECTIVE DATE: , March 17, 2003 Â£APPLICANT: Paul Menter, Finance Director WRITTEN BY Joyce Allgaier Ohlson. Deputy Director APPROVED BY Jillie Ann Woods. Commiinity Development Director C OP1.ES TO: John Worcester, Steve Barwick S-U-MMARY This cocle Enterpretation sets forth statements as to how the City of Aspen will approach and evabiate fiscal impact studied that are submitted as part of a timeshare development proposal. The specific statements are found below. PURPOSE The purpose of this code interpretation is to further clarify the language in Land Use Code Section 26.590.070 (Al FILmes hclrel -Fiscal Impact Analysis and Mitigation for the purposes of analyzing and objectively-evaluating the tinancial analysis requil-ed of the applicant, and applying a recommended mitigation program as provided by the code, - based upon the provisions of this section. BACKGROUND Section 26.590.070 (A) of the Latic[ Use Code 1-squires that any developer propostilg to convert an existing lodge to a timeshare lodge development shall be required to cle moustrate that the proposed conversion will not have a negative tax consequence for the City. Iii occler to demonstrate the tax consequences of the proposed conversion, the applicant shall prepare a cletaited fiscal impact study as part of the final PUD application. I f the analysis demonstrates a negative tax impact to the City of Aspen, then the applicant shal[ be recit-lil-ed to propose a mitigation prograin. Such mitigation programs milst meet with the approval of the Aspen City Council. If the fiscal impact study demonstrates a positive impact to the City of Aspen. then no mitigation program is required. I.n order to clarify the submittal requirements and the intent of the fiscal impact study. so as to firly P79 and ob.jectively evaluate fiscal impacts caused by lodge to timeshare conversion.s, the foliowinu statements will serve as guidelines in this process. 1. The code requires thar [he applicarit compile a tax analysis that compares the prior 5- year and projected 5-year tax collections for the project. These 5-year totals should be converted to c:,11.-ent day dollar value for comparison. The average an-nual difference between the previoils 5-years and the future 5 years is the annual amount tha[ needs to be paid for the life of the project. This calculation becomes the basis for determining the appropriate fee due from the applicant, if any. 2. The code requires that the applicant compile a tax impact analysis for sales and [oddirÂ« 4 U taxes, property taxes and red estate transfer taxes. This tax impact analysis should be completed on a trix-to-tax basis. as opposed to an overall basis. In other words, dramatic increases in Real Estate Transfer Taxes in comparison to prior year collections do not serve to offset a reduction in sales tax collections for purposes of calculating any fee that might be owed. The mitigation program alithorized by this section shottic[ be calcillated for each inclivickal tax. not as a w-hole of the identled taxes identitied iii the secrion. The reason for segregating the fee Calculation is becallse the taxing sources are not interchangeable iii terms of their applicability to providing City services. 3. The cocle requires that projects should be evaluated by comparing the tax inipact of existing facilities pills existing approv'aid (in combination, the total project") to the total project plus the proposed timeshare. Where any previous approvals have been granted but riot yet developed, the --existing facilities" should inclucle what has been approved thus fat-. So for example, in the case of an application, which has an existing aoproval for 20 new hotel rooms that is independent of their new timeshare proposal, the comparison would be between what exists plus what is approved but not yet built and the net illimber of limits after timeshclre conversion, 4. The 5-year comparison (most recent previous 5 years v. projected first 5 years of operation with the timeshare or fractional ownership element operational) required by this section of the code is for determininÂ·u an average arinual tax impact of the pi-oject, and is for Coniparison purposes Only to provide a basis for deteriminillw all approplute fee, w-hich shall be based Lipon the estimated life of the project. and is not intended to meall tilat the total tax impact provided by the ordinance is limited to 5 years. APP-EAL OF DECISION Â£As 'with any tilterpretation ofthe land use code by the Coinmunity Development Director, ail aloplicant has the ability to appeal this decision to the Aspen City Council. This can be done in conjuncrion with a land LLSe fequest before City Council or as a sepal-acc agenda Ltel-1-1. -26.3-16.030(A) APPEAL PROCEDURES Any person with a right to appeal an adverse decision or deteimination shall initiate an appeal by filing a notice of appeal on a form prescribed by the Community Development Director. The notice of appeal shall be filed with the Community Development Director P80 - and with the City office or department rendering the decision or determination within .fourteen (14) cia.ys of the date of the decision or determination being appealed. Failure to tile such notice of appeal within the prescribed time shall constitute a waiver of any rights under this Title to appeal any decision or determination, 12/08/2003 17:14 728-266-1041 GOUGER Z FRANZMANN PAGE 01 Gouger & 14 - d P81 Frall-Zmann, L.LC, - Attorneys & Counselors at Law FACSIMILE TRANSMITTAL SHEET TO: FROM: Tames Lind: Bill G.ollefir 0 CON[PANY: DATE: City of Aspen 12/8/2003 Fix N C MBER iOTAL NO, OF PAGES LACLUENNG COVER: <9703 920-5439 4 PHONE NUMBia SENDErS FT-TONE NUMBER: 720) 266-1040 11 SENDER'S F:\X NUMBP.R: LASH Mitgation Fee ('20) 266-1041 ~ URGENT Q FOR REVIEW U PLEASE COMMENT C PLEASE REPLY 3 PLEASE RECYCLE -- James/Paul/Scott: Thank you for the time you spent in discussion with us this afternoon. Artached please find the background information supporting the revised occupancy and average room rate figures provided in the spreadsheet forwarded earlier today. Please note that we are proposing a rounding increase in occupancy from 35.19% to 40%, which should take into account additional business growth in LRSH's operations. We believe this addresses the City's concern that 2003 data may be unreasonably low based upon the first year of operations. To move any further beyond the results ofthe actual data indicates to Gougdr & Franzmann, LLC that we are negoriating a fee rather than calculating one. I have requested that Dave provide input to us about structuring a payment arrangement along the lines that you have suggested - i.s. within the first half of the sales period and on a clifFbasis once a certain number of units are sold. As I mentioned, a key factor will be retirement of debt on the property. Once that is accomplished, I believe we will be able to reach agreement on terms. -1 400 INVERNESS PARKWAY â€¢ SUEE 250 â€¢ ENGLEWOOD, CO 80112 D.c infocm=non containcd in rbis Elx is incended only for the indiv.dual or en dy to which ir is addrcucd, and may cont:lin inionnation thar 6 pEâ€¢Qcged and con.Edc=dal. If che reader of this message is cor che intended =cipient (or the employee responsible to deliver it to the int=dicd redpienC), you ire hczcby rtc,ied thlt an>- dis==1601:ation, distribucion, or copying of this cornnumicadon E prohibited. If you have =c=ived this ce-c=tion in ccor, plcnie notify us by collect tzlephonc, and rcrum dle odginal message co us ac che =id,ress shcu:n above arour expense. 12/08/2003 17:14 720-266-1841 GOLGER & FRANZMANN PAGE 02 P82 We appreciate your willingness to mention in the report to Council that the applicant intends to seek a waiver of the mitigation fee, as well as outlining how we~have reached the point we are at now (Le. original Gouger & Franzmann, LLC study using estimates showed 3-0- fee, upon learning the approved method for calculating the fee in City regulations, a revision based upon actual data indicated a fee of $38,732). Paul, I will be in all wcck, please call me once you have fnalized your recommendaion after discussion with the City Manager. Sincerely, -<> el \J -C D.Lâ€ž William R. Gougar 1 2 788/2003 17:14 729-266-1041 GOUGER & FRANZMANN PAGE 03 From:PROSPERITY BOOKKEEPING 8450828 12/06/2009 '15: 12 4 P .008/004 P83 06/12 2003 13:54 FAr 18708257123 LITTLE RED SKI RAUS 4 Cyndi Pe:=rs @001 .?ttje Red Ski Haus,LLC Room Occupancy Analysls 'age 1 From Sat MAR 1-st 2003 to Wed DEC 31-st 2003 PMr,ted at 13:29 on 5 DEC 03 Room Nights Guast Nights Revenue o o m Booked Ccc 36 ADR Numbgr AOR Total '4 ' i '. r. Â¢ ARYDOW 150 4 13% 99 M 196 7619 1 1 933 1 9 8 64 36 ELLMOUNT 114 38 59% 133.36 138 114,03 15 736 47 9 iD 106 JCKHORN 130 17 67 35 108 58 787 77 63 14 125.56 317% .PSY1 005 34 43% 38 M 1 (15 38 02 r ~3 992 35 2 31 1 PSE \ 99 30.19% 37 84 33 37 43 03 \ 3.480 98 0 (1 1 94 2273 41\ 3114 37 3 8 14 31 32 114 31 37 1 3 553 96 P Â¤7 %, PS74 (100 32 75 % 99 39 100 76 39 L $ 33 3 98 1 53 ti ENTLEMAN1 Ci4 4 7 70 5 71 41 55 7g 11 (3.8 55.98 9 73 +6 -NTI F MANZ 575 24,59 94 35.89 84 32 05 /73 j 2 991 98 1 56 % :NT[ CMAN, 264 3 24 70 98% do 27 34 40 77 ld) h 2 577 36 1 49 34 ENTLEMANA ( 71 93 28 34 40 57 72 40 10 U.837 36 . I. -/ I , NANNIE 88 39 13% 97 39 112 35 72 9.502.55 S 56 5 7-1 FNFI 1 1Â¢9 49 25 3,6 116 75 903 85 33 17 374 14 10 03% 4.GNIFICS .04 34 10% 13734 137 104 79 14 346 07 9 30% 'OSPECTOR 78 75 57 K 134 02 108 96.79 10,453.27 5 05 A ITUSPI IN 95 31 IF Â°4 170 75 173 93 76 11 471 04 ESMÂ°,4 \/FRAFTI ' _ 127 dl , 6414 109,44 188 83 73 13 839,40 8,04 3% A,901 Ji.GY 99 32 26 % 1 Â£5 52 121 85,42 10 453 36 5 05 % -INFRIC l?d 4056 14 119 49 173 97 1 9 14 808 47 2 57 56 T otal= 1947 33,60 % 83.73 2351 73.52 172,861,38 100.00% -6 ' 03 + 334 + 4 6,862 53 - 2jR83 *218'712.9< 441 \7 Fee. a.-604 2 4{3,682-173 0 <264> get a.bow e. <22,0/2. 60 Â© < 927 5 --ce- n Â©C+- p 9 - 4 41460-70 41~13> 5 i e. i e-<+ P S. 4 4 178- 3 (> 731 11413 jhts - # 1 92, 36,7. 8-7 4 - 11/3/ --#- R evenuâ‚¬- % 1 4 302. 87 - = 9/2 9.02 frve.. Rate }J Wj 3 1/413 - - -13_ 1 % 0 ULLjo a.-0 3 1 L x 365 12/08/2003 17:14 720-266-1041 GCUGER & FRANZMANN PAGE 84 Pe.- From:PROSPERITY BOOKH NG 9709450828 12/ .303 15:13 Â·4054 P.004/004 12:50 PM- Little Red Ski Haus 12/06/03 - Accrual Basis Sales by Item Summary January through February 2003 Itlforrnation GeneFated from QutckagÂ©kN Jan â€¢ Feb 03 ...aL Amount Al,g PAcâ€¢ Room, Baby Doe 8.00 2,152.00 259.CO Befl Mountain 9.00 2,823.60 313.73 Buckhorn 12.00 4,428.00 369.00 Dipguy Doodie 4 82.00 4,450.78 44 54.78 Gentleman's Ridge 44 113.00 6,270.31 *4- 35.49 Little Annlac 27.00 4,362.00 161.50 Ut'Ce Noll 23.00 5,223.58 227.11 Mâ€¢gniflco S.00 499.00 99.30 Proseector 11.00 2,237.00 203.35 Ruchlek; Run 11-00 3,929.00 357.18 51[V,r Bell 8.00 3!226.00 403.25 5par dutch 3.00 1,137.00 379.00 Stein Erickson 24.00 5.129.25 213.72 Total Stay 336.00 45,867.33 13â‚¬.51 Average Room Rate -'-:136/51. Awrigâ€¢ Occupancy Ratu i.. I'â€¢.,6.Â¢ U.Â· ien-LOÂ·:92-0 336 + (59 days X !3 moms - 767 posible 3tNy3) Pâ€¢gâ€¢ 1 of 1 P85 Mitigation Fee Calculation Application of AMC 26-590-070 to Little Red Ski Haus Application Annual Negative Expected Life Adjustment 2008 2008 Annual E ffect o f Fractional for Future Tax Description Existing Projected to Ciry Improvement Value TOTAL FEE Sales Tax -Direct $8,132 53,482 54,650 Sales Tax - Indirect $12,315 $32,000 County Sales Tax - Direct $2,849 $947 $1,902 County Sales Tax - Indirect 55,038 $13,091 Total Sales Tax 528,333 $49,519 50 27.50 3.10% SO Lodging Tax $3,165 $1,052 52,114 27.50 3.10% $38,732 -Real Estate Transfer Tax $0 $17,981 SO 27.50 3.10% $0 Property Tax 52,229 52,237 $0 27.50 3.10% SCI Total Recommended Fee: $38,732 P86 ATTACHMENT 7 AFFIDAVIT OF PUBLIC NOTICE REQUIRED BY SECTION 26.304.060 (E), ASPEN LAND USE CODE ADDRESS OF PROPERTY: / r) 0 , Aspen, CO j 1 3 6 1 V - jl-0 4Â» /44)ve SCHEDULED PUBLIC HEARING DATE: , 200 i STATE OF COLORADO ) ) SS. County of Pitkin ) 1 \ Al I. \ .1 (4 L f.{(o_<Â·4 ~/ M. r-1 71- (name, please print) being dr representing an Applicant to the City of Aspen, Colorado, hereby personally certify that I have complied with the public notice requirements of Section 26.304.060 (E) of the Aspen Land Use Code in the following manner: ,~r-- Publication of notice: By the publication in the legal notice section of an official ' paper or a paper of general circulation in the City of Aspen at least fifteen (15) days prior to the public hearing. A copy of the publication is attached hereto. Posting of notice: By posting of notice, which form was obtained from the Community Development Department, which was made of suitable, waterproo f materials. which was not less than twenty-two (22) inches wide and twenty-six (26) inches high, and which was composed of letters not less than one inch in height. Said notice was posted at least fifteen (15) days prior to the public hearing and was continuously visible from the day of , 200 , to and including the date and time of the public hearing. A photograph of the posted notice (sign) is attached hereto. Mailing of notice. By the mailing of a notice obtained from the Community Development Department, which contains the information described in Section 26.304.060(E)(2) of the Aspen Land Use Code. At least fifteen (15) days prior to the public hearing, notice was hand delivered or mailed by first class postage prepaid U.S. mail to any federal agency, state, county, municipal government, school, service district or other governmental or quasi-governmental agency that owns property within three hundred (300) feet of the property subject to the development application. The names and addresses of property owners shall be those on the current tax records of Pitkin County as they appeared no more than sixty (60) days prior to the date of the public hearing. A copy of the owners and governmental agencies so noticed is attached hereto. (continued on next page) 4 - Rezoning or text amendment. Whenever the official zoning district map is in any way to be changed or amended incidental to or as part of a general revision of this Title, or whenever the text of this Title is to be amended, whether such revision be made by repeal of this Title and enactment of a new land use regulation, or otherwise, the requirement of an accurate survey map or other sufficient legal description of, and the notice to and listing of names and addresses o f owners of real property in the area of the proposed change shall be waived. Ilowever, the proposed zoning map has been available for public inspection in the planning agency during all business hours for fifteen (15) days prior to the public hearing on such amendments. r- 631 1 1 tâ‚¬>22291 dEV_ t-- ~ignature The foregoing "Affidavit of Notice" was acknowledged bFfore me thip J day of JOD--62-,-4-> e. , 2001, by--331 --<._ <. A.1 729-- WITNESS MY HAND AND OFFICIAL SEAL My commission etpires: ~/7-3,/ 0 -3- LES= Notary Public ATTACHMENTS: COPY OF THE PUBLICATION PHOTOGRAPH OF THE POSTED NOTICE (SIGN) LIST OF THE OWNERS AND GOVERNMENTAL AGENCIES NOTICED BY MAIL 6 6 t 2 5 1-1-t 5 dilia# -t . Ull 214*34109 :E*E2. %33* 3 19% 13& 11 19: 43 EMEQ C I 25** 8 1/11*: 1-9-2 2 2-51 23 -=a,k si 2*:% . truk:241-: ~-0 2- . I Wm= te:12+Nâ‚¬1% 1 , EE*%*39321~1 112,8 1 0-MI. E....2/13:0: 1 uNRP 1%13&1431il#ijag=m AMEND- an applica 0 1 1 Se paqIi )Sap Xuadoid pie K]11 Â·69 313)19 11 4 uuals/.4% /41 le lp'111 NOILIWI' 2/1?JUOi (1 Wauld<)[JAaa X}!tin uadsv JO Ati 26 (016) 02 'uadsv -15 811 2 Â·S ()Â£1 -1.Mulie JOKBIN Â·11111#pue[>I lII'. tputio) 4! D Liadsv '62 laqul#AoN uo sauu!1 uadsÂ¥ 41 u! )allsI[qlld Ebe h~a >i /u OI l K uads'v to alls[1 ...)Â©Isatie< 19($( (6%6(1) 'Â£00Z ' 12/16/2003 12:10 720-266-1041 GOUGER & FRANZMANN PAGE 02 ATTACHMENT 7 AFFIDAVIT OF PUBLIC NOTICE REQUIRED BY SECTION 26.304.060 (E), ASPEN LAND USE CODE ADDRESS OF PROPERTY: , Aspen, CO SCHEDULED PUBLIC HEARING DATE: â‚¬~Re*nA 64 75- - , 200_i_ STATE OF COLORADO ) 1 9. County of Pitkin ) 1, tylic.haÂ·J P. Fcqâ€¢U~.ma,1/LÂ·- (name, please print) being or representing an Applicant to the City of Aspen, Colorado, hereby personally certify that I have complied with the public notice requirements of Section 26.304.060 (E) ofthe Aspen Land Use Code in the following manner: i/~' Publication of notice: By the publication in the legal notice section of an official paper or a paper of gonÂ©ral circulation in the City of Aspen at least fifteen (15) days prior to the public hearing. A copy ofthepublieation is attached hereto. J' posting of notice: By posting of notice, which form was obtained from the Community Development Department, which was made of suitable, waterproo f materials, which was not less than twenty-two (22) inches wide and twenty-six (26) inches high, and which was composed of letters not less than one inch in height. Said notice was posted at least fifteen (15) days prior to the public hearing and was continuously visible from the Of /Aday of AD\/f rn 6Â« , 2001_, to and including the date and time ofthc public hearing. Aphotograph oftheposted notice (sign) is attached hereto. ~ Mailing of notice. By the mailing of a notice obtained from the Community Development Department, which contains the information described in Section 26.304.060(E)(2) ofthe Aspen Land Use Code. At least fifteen (15) days prior to the public hearing, notice was hand delivered or mailed by first class postage prepaid U.S. mail to any federal agency, state, county, municipal government, schoot service district or other governmental or quasi-governmental agency that owns property within three hundred (300) feet ofthc property subject to the development application. The names and addresses ofproperty owners shall be thosc on the current tax records ofPitkin County as they appeared no more than sixty (60) days prior to the date of the public hearing. A copy of the owners and governmental agencies so noticed is attached hereto. (continued on next page) 12/16/2003 12:10 720-266-1041 GOUGER & FRANZMANN PAGE 03 Rezoning or Mit amendment. Whenever the official zoning district inap is in any way to bc changed or amended incidental to or as part of a general revision of this Title, or whenever the text of this Title is to be amended, whether such revision be made by repeal of this Title and enactment of a new land use regulation, or otherwise, the requirement of an accurate survey map or other sufficient legal description of, and the notice to and listing of names and addresses of owners ofreal property in the area ofthe proposed change shall be waived. However, the proposed zoning map has been available for public inspection in the planning agency during all business hours for fifteen (15) days prior to the public hearing on such amendments. n 454271#0'97 Signature "~~) The foreping '3ffidavit ofNotice" was acknowledged before me this /0 ~ay of ~14*(te,06+1. . 2003; by /77,&60,/ /7- A# A r *p,MMi WITNESS MY HAND AND OFFICIAL SEAL My commission expires: , Ajou . 1-1, too-1 tl'.-0 4.d#AA.,g~6 a~oâ€žRe---- :rn 1 1...4 : Not*Â¥ubliQ O/0 '4>3/8\20'*ti#) 0126-60:r My Commission Expires 11117/2007 ATTACHMENTS: COPY OF THE PUBLICATION PHOTOGRAPH OF THE POSTED NOTICE (SIGN) LIST OF THE OWNERS AND GOVERNMENTAL AGENCIES NOTICED BY MAIL 12/08/2003 17:14 720-266-1041 GOUGER & FRANZMANN PAGE 01 Gougar & FranZmann, uc. Attorneys & Counselors at Law FACSIMILE TRANSMITTAL SHEET FROM: James Lindt Bi]1 Goug& COMPANY: DATE: City of Aspen 12/8/2003 FAX NUMBER: TOTAL NO, OF PAGES INCLUDTNG COVER: 970) 920-5439 4 PHONE NUMBER: SENDER'S PMONE NUMBER: (720) 266-1040 RE: SENDER>S FAX NUMBER, I.RSH Mitgadon Fee (720) 266-1041 -16 1 URGENT 3 FOR REVIEW Â¤ PLEASE COMMENT Â¤ PLEASE REPLY O PLEASE RECYCLE James/Paul/Scott: Thwk you for the time you spent in discussion with us this afternoon. Attached please find the background information supporting the revised occupancy and average room rate figures provided in the spreadsheet forwarded earlier today. Please note that we are proposing a roun(ling increase in occupancy from 35.19% to 40%, which should take into account additional business growth in LRSM's operations. We believe this addresses the City's concern that 2003 data may be unreasonably low based upon the first year of operations. To move any fidther beyond the results of the actual data indicates to Goug& & Franzmann, LLC that we are negotiating a fee rather than calculating one. I have requested that Dave provide input to us about structuring a payment arrangement along the lines that you have suggested . i.s. within the first half of the sales period and on acliff basis once a certain number of units are sold. As I mentioned, a key factor will be retirement of debt on the property. Once that is accomplished, I believe we will be able to reach agreement on tcrms. 400 INVERNESS PARKWAY â€¢ SUITE 250 â€¢ ENGLEWOOD, CO 80112 Thc infoornation contained in this fax is iniended oak for the individual or entity to which it is addrcsxd, and may Contain infozmation thit is pridleged and confidendal. If the reader of this message is not the intended zodpient (or the employee responsible to dcliver it to the intended recipient), you gre hereby notified thai any Â£=colinaâ‚¬on, disttibution, or copyijagof thisoommtmicadon h prohibited. Ifyou have received this cornmurrication in cz:rol; please nodfy us by collect telephonc, and mnim the original Cle.sagc to us at the addre= shown above et our expense. 12/08/2003 17:14 720-266-1041 GOUGER & FRANZMANN PAGE 02 We appreciate your willingness to mention in the report to Council that th~ applicant intends to seek a waiver o f the mitigation fee, as well as outlining how we have reached the point we are at now (i.e. original Gouger & Franzmann, LLC study using estimates showed $-0- fee, upon learning the approved method for calculating the fe: in City regulations, a revision based upon actual data indicated a fee of $38,732). Paul, I will be in all week, please call me once you have finalized your recommendation after discussion with the CityManager. Sincerely, ./0.10 -1 DA/vc William R. Goug6r 2 12/08/2003 17:14 720-266-1041 GOUGER & FRANZMANN PAGE 03 From:PROSPERITY ~PING 9709450828 . 15/2003 15: 12 #054 P.003/004 06/12 2003 13:54 FAI 18709257123 LITTLE RED SKI EAUS + Cyndi Peters 0001 Litle Red Ski Haus,LLC Room Occupancy Analysts Page 1 From Sat MAR 1st 2003 to Wed DEC 31st 2003 Prjnted at 13:29 on 5 DEC 03 Raorn Nights - Guest Nights Rovenue Room Booked Occ % ADR Number AOR Total % BARYDO@ 150 4918% 00 55 146 76 19 14933 19 - 8 64% RELLMOUNT 11A 38 69 Fi 133.36 138 114.03 15,73647 910% QUCKHORN 130 42 67.35 - 108 58 ..137 77 63 14128.58 817 5% Diesyl /105 34 43 % 38 07 105 38 07 /3 90 35 2.31 % DIPSYP ) 32 30.18% 37 84 93 37 43 (~) J 3 480.98 2 01% DIPSX3 411 7114 37 38 K 31.32 114 31.32 73 553 96 9 07 % DIPSY4 l lon 97 79% 96 39 100 96 39 , 0 832 98 1 53 % RENTLEMAN1 <54 17 70% 71.41 55 7011 f 3.865.98 7 23 % GFNTI FMAN2 \75 74.59 % 35.89 84 37 05 /n J 2,681 98 1 56 % rUN-Tr PMANA 264 1 84 90 98 44 40 27 64 48 77 ty h 2 577.36 149% GENTLEMANA (71 03 28 % . 40.67 72 40.10 4887 38 1 87% 1 ITTANNIE 98 39 13 % 97 99 112 85 74 9 502.56 5.56 % 11171 FNFI I 149 dA AM 96 116.05 203 85 35 17321 14 lAmt MAGNIFICO 104 3410% 137.94 137 10479 . 14 346 07 8 30 % PROSPECTOR 78 75 57 % 134 07 108 96.79 10.45377 6 05 X AUTWARUN 95 31 15% 120.75 193 9376 . 11 471 04 8 64 Â°A RILVFRRFI .L 127 41.64 % 109.44 168 83 73 13 899.40 /1,04 % SPARGULCH 99 32 48 % 105 62 121 86.42 10 456 36 5 05 96 STFNE[?10 124 40.66 % 119 49 178 83 19 14808 47 8 57 % Total= 1847 33.GO % 88.78 2351 78.52 172,851.38 100.00% can/&06'03 1 33 4 + 4 6,862 53 2,483 It ZI 8,7/2.9( 44117 See 8-601 e. 413,6/2.17> 8 <264, ge < 0-604 e- < 1 z, 012 Â· Gt> Â© < 021 S .te- n Â©ck iÂ°8 - < 4,460.7 0 <Id> See. rtÂ«+PS- 46,2.78.3(> 1,413 - - 700MN (16-11 - # }92, 2,2. 0 1/1 - 12/3/ R avenue- -LLELPE33- n # /29. 02 Ave- Rate 1,4/3 5---I'll \14\3 -=- 2-5~19 5% OcÂ£-upa-n {f It x 365 12/08/2003 17:14 720-266-1041 GOUGER & FRANZMANN PAGE 04 From: PROSPERITY Bl EPING 9709450828 5/2003 15: 13 -#054 P.004/004 12:50 PM Little Red Ski Haus 12/05/03 Accrual Basts Sales by Item Summary January through February 2003 Information Generated from Qulcidook. Jan â€¢ Feb 03 Clty Amount Avg Prio. Rooms Baby Doe 8-00 2,152.00 269.00 800 Mountain 9.00 2,823.GO 313.73 Buckhorn 12.00 4,428.00 389.00 Dipoey Doodie * 82.00 4,450,78 * 54.78 Geneemon'â€¢ mdge * 113.00 6270.31 *e 55.49 Uttle AnnieÂ® 27.00 4,362.00 1 51.66 Lilli. NIU 23,00 5.223.58 227.11 Magn:flco 5.00 493.00 99.80 Prospector 11.00 2,2S7.00 201-38 Ruth)e's Run 11.00 3,929-00 357.18 Silver Ball 8.00 3,226.00 403.25 Spar Gutch 3.00 1,137.00 370.00 Stein Erickson 24.00 8,129.25 213.72 Total Stmys 336,00 45,867-53 136.51 Average Room Rate -Ft '1365511 Avorage Occupancy Rato 1*1-91 336 + 09 days x 13 rooms - 767 possible stays) Pagâ€¢ 1 Of 1 Bill Gouger, 11:57 AM 12/08/20- RE: Mitigation Fee Calculation with ' ual Data Page 1 of 2 . 0 /&;/~ _6-OUB@ 1 From: "Bill Gouger" <Bill@gflawfirm.com> 1 To: "'James Lindt"' <iamesl@ci.aspen.co.us> Cc: "'David R. Fiore"' <david@littleredskihaus.net>, 476-26 & 10 LtD <David.fiore@JCventures.com>, "'Michael P. Franzmann"' <Mike@gilawfirm.com> c Subject: RE: Mitigation Fee Calculation with Actual Data Date: Mon, 8 Dec 2003 11:57:11 -0700 X-Mailer: Microsoft Outlook, Build 10.0.3416 Importance: Normal X-MailScanner-Information: Please contact the ISP for more information X-MailScanner: Found to be clean Good morning James, Please forward this message to Paul and Scott as well. Attached please find a revised spreadsheet (based on Scott Newman's most recent analysis) containing a calculated mitigation fee for the proposed Little Red Ski Haus fractional ownership development proposal. These calculations are based upon actual LRSH occupancy and room rate information for 2003 received from LRSH's bookkeeper and verified against the lodge's reservation software system. We have removed the impact of the bunk rooms from the analysis as the manner in which they are tracked in LRSH's records artificially depresses occupancy percentage and average room revenue. In any other matter where ambiguity may have existed as to revenue or occupancy, we resolved it in a manner favorable to the City. My work indicates that a realistic occupancy rate to use for LRSH is 40% and the average room rate should be $130. The analysis revealed actual figures below these levels, but we deemed it reasonable to round the results upward. When the initial fiscal impact analysis was performed, it was not clear to our firm that lodging tax would be separately analyzed from sales tax. For this reason, we selected an occupancy rate based upon an Aspen historical average and utilized a higher average room rate that did not reflect seasonality of pricing. These new figures have been substituted in the attached spreadsheet in both Exhibits 2a and 2b. No change was made to the 100% occupancy and $275 average room rate during peak periods, per Dave Fiore. In addition, worksheet 2b has been modified to reflect the available number of room nights per our initial fiscal impact analysis - as we find Mr. Newman's approach does not reflect unit weeks retained by LRSH owners. nor does it reflect that until all fractional interests are sold in the 2 room suite, that 13 units are available to rent vs. 12 available for sale of fractional interests. After making the revisions mentioned above, the calculated mitigation Printed for James Lindt <jamesl@ci.aspen.co.us> 12/08/2003 Bill Gouger, 1 1:57 AM 12/08/20 - RE: Mitigation Fee Calculation with al Data Page 2 of 2 . fee using City of Aspen methodology based upon 2003 LRSH occupancy and room rate data (rather than estimates) is $38,732. LRSH believes that this is a fair and reasonable amount to compensate the City for the anticipated decrease in lodging tax. Because it is unclear whether fractional interests in a bed and breakfast type establishment will be well received by the public, LRSH requests that payment of the agreed mitigation fee be aligned with actual sales results. For example, if less than 10% of the Fractional interests are sold, then the development will be halted. In this case, no mitigation fee should be paid. However, assuming that the development is successful, we respectfully request that the actual mitigation fee to be paid reflect annual fractional ownership unit sales during the 5 year sales period. I f 20% of the fractional interests are sold iii the first year (2004), then 20% of the mitigation fee would be paid, and so on for each additional year. We will be pleased to discuss the above points in more detail with you during our 2:00 pm conference call. Sincerely yours, Bill William Gouger Gouger & Franzmann, LLC 400 Inverness Parkway, Suite 250 Englewood, CO 80112 (720) 266-1040 (720) 266-1041 (Fax) E-mail Bill@GF1awfirm.com NOTICE: This E-mail message contains privileged and confidential information intended only for the use of the individual or entity named above. If the reader of this message is not the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is strictly prohibited. If you have received this communication in error, please immediately notify us by return e-mail, or by calling the sender at (720) 266-1040. Thank you. E= 1 . I IMitigation Fee per G&F with Actual.xls Printed for James Lindt <jamesl@ci.aspen.co.us> 12/08/2003 At' C i IM UVE3977 00 FR< prop05180 10\/ App: usiÂ« ct L 2,1 w i l l ox - | ) 0 4' N 1 Mitigation Fee Calculation Application of AMC 26-590-070 to Little Red Ski Haus Application Annual Negative Expected Life Adjustment 2008 2008 Annual Effect of Fractional for Future Tax Description Existing Projected to City Improvement Value TOTAL FEE Sales Tax -Direct $8,132 $3,482 $4,650 Sales Tax - Indirect $12,315 $32,000 County Sales Tax - Direct $2,849 $947 $1,902 County Sales Tax - Indirect $5,038 $13,091 Total Sales Tax $28,333 $49,519 $0 27.50 3.10% $0 Lodging Tax $3,165 $1,052 $2,114 27.50 3.10% $38,732 Real Estate Transfer Tax $0 $17,981 $0 27.50 3.10% $0 Property Tax $2,229 $2,237 $0 27.50 3.10% $0 Total Recommended Fee: $38,732 --- CITY OF ASPEN Current Ownership Tax Mitigation Fee Calculation , BLUE = Data entry cells GREEN = Net Present Value amounts by year BOLD = Totals and Averages Projected Collections from Existing Operatio is Projected Collections from Proposed Operations Projected Projected 2004 2005 2-QÂ® 2007 2008 .Average Average 2001 2005 2006 2007 2008 Projected Collections Sales Tax - Direct $8,424 $8,685 $8,954 $9,232 $9,518 $8,963 $5,565 $7,139 $6,320 $5,532 $4,756 $4,076 Sales Tax - Indirect $12,758 $13,153 $13,561 $13,981 $14,415 $13,574 $26,036 $14,270 $20,266 $26,159 $32,030 $37,456 County Sales Tax - Direct $2,951 $3,043 $3,137 $3,234 $3,335 $3,140 $1,750 $2,425 $2,075 $1,737 $1,403 $1,108 County Sales Tax - Indirel $5,219 $5,381 $5,548 $5,720 $5,897 $5,553 $10,651 $5,838 $8,291 $10,701 $13,103 $15,323 Lodging Tax $3,279 $3,381 $3,486 $3,594 $3,705 $3,489 $1,944 $2,695 $2,306 $1,930 $1,559 $1,231 Real Estate Transfer Tax $0 $0 $0 $0 $0 $0 $19,908 $14,760 $16,300 $19,850 $25,350 $23,280 Property Tax $2,531 $2,531 $2,531 $2,609 $2,609 $2,562 $2,566 $2,531 $2,532 $2,534 $2,615 $2,619 Net Present Value of Projected Collections NPV Factor 96.90% 93.90% 90.99% 88.17% 85.43% 100.00% 100.00% 96.90% 93.90% 90.99% 88.17% 85.43% Sales Tax - Direct $8,163 $8,155 $8,147 $8,139 $8,132 $8,147 $5,112 $6,917 $5,934 $5,034 $4,193 $3,482 Sales Tax - Indirect $12,362 $12,350 $12,338 $12,327 $12,315 $12,339 $23,379 $13,827 $19,029 $23,801 $28,240 $32,000 County Sales Tax - Direct $2,860 $2,857 $2,854 $2,852 $2,849 $2,854 $1,613 $2,350 $1,948 $1,581 $1,237 $947 County Sales Tax - Indirec $5,057 $5,052 $5,048 $5,043 $5,038 $5,048 $9,564 $5,657 $7,785 $9,737 $11,553 $13,091 Lodging Tax $3,177 $3,174 $3,171 $3,168 $3,165 $3,171 $1,792 $2,611 $2,165 $1,756 $1,375 $1,052 Real Estate Traiisfer Tax $0 $0 $0 $0 $0 $0 $17,981 $14,302 $15,305 $18,061 $22,350 $19,889 Property Tax $2,452 $2,376 $2,303 $2,300 $2,229 $2,332 $2,336 $2,452 $2,377 $2,305 $2,306 $2,237 Exhibit 2b Little Red Ski Ilaus Fiscal Impact Analysis Of Fractional Ownership Development Sales and Lodging Tax Detail 2004 2005 2()06 2007 2008 | I)irect Sales Avergage Daily Rate $ 130 $ 134 $ 138 $ 142 $ 147 Room Nights Available to Rent - beg of year 3,878 2,933 2,114 1.316 6()2 Rooin Nights Available to Rent - end of year 2,933 2,114 1.316 602 35 Average Room Nights Available to Rentl 3,406 2.524 1.715 959 319 Occiipancy Rate 4()94 40% 4{)% 40% 4()% Projected Room Nights Rented 1 .362 1,009 686 384 127 Projected Room Revenue $ 177.086 $ 135,290 $ 94.795 $ 54,651 $ 18,713 Peak Week Room Nights Available2 336 336 336 336 336 Peak Week Average Daily Rate 275 $ 284 $ 292 $ 301 $ 311 Peak Week Proiected Revenue $92,400 $95,264 $98,218 $101-262 $104,401 Total Rooni Revenue $269,486 $23(),554 $193,012 $155.913 $123.115 Sales Tax Rate 2.20% 2 2()% 2.20% 2.20% 2.20% I.odging Tax Rate 1 -00% 1.00% 1.00% 1 -00% 1 00% City Portion 01 County Sales Tax Rate 0 90% () 9()% 0 90% 0.90% 0.90% Direct Sales Tax from Restaurant 1,210 1.248 1,286 1,326 1,367 Direct Sales Tax $5.929 $5,()72 $4246 $3,43(1 $2 709 Eotal Direct Sales Tax $7,139 $6,320 $5-532 $4.756 $4.076 lodging Tax 2 695 2.306 1.930 1559 1,231 (Jity Portion of County Nales Tax 2,425 2.075 1,737 1,403 1,108 Indirect hales l'otal Room Nigjits Available 3 878 3,878 3,878 3.878 3 878 Average Room Nights Available to Rent 3.4(}6 2.524 1.715 959 319 Average Room Nights Sold to Fractional Owners 473 1.355 2,163 2.919 3,56() Occupancv Rate 85.00% 85 () 0% 85.00% 85.00% 85.(X)% Occupied Nights 4()2 1.151 1.839 2.481 3.()26 People per Room 3 3 3 3 3 Average Spending per Day (per Aspen Finance Director) $152 $157 $162 $167 $172 Indirect Spending from fractional ownership $183.312 $541,127 $891,382 $1,239 846 $1.559.080 City of Aspen Sales Tax Rate 2.20% 2.20% 2.20% 2.20% 2.20% City Portion oi'County Sales Tax Rate 0.90% 0.90% 0 90% () 9()% 0.90% Indirect >ales Tax from Fractional Ownership Development $ 4,033 $ 11,905 $ 19.610 $ 27 277 $ 34-3(}() City Portion of Gotinty Indirect SaleA Tax 1,650 4.870 8.022 11,159 14-()32 Occupied Nights 1.698 1-345 1,022 72() 463 People per Room 2 2 2 2 2 Average Spending per Day (per Aspen Finance Director) $137 $141 $146 .$150 $155 Indirect Spending from unit rental $465,307 $380,067 $297,659 $216.()82 $143.463 City of Aspen Sales Tax Rate 2.20% 2 20% 2.20% 2 20% 2 20% City Portion of Coutity Sales Tax Rate 0.90% 0 90 % 0.90% () 9()% () 90% Indirect Sales Tax from Unit Rentals $ 10,237 $ 8.361 $ 6.548 $ 4-754 $ 3,156 Citv Portion of County Indirect Sales Tax 4,188 3.421 2 679 1,945 1.291 l'otal Indirect Sales Tax $ 14,270 $ 20,266 $ 26.159 $ 32-030 $ 37.456 rotal <:ity Portion of County Indirect Sales Tax 5.838 8,291 10.70] 13-103 li323 1 Calculation subtracts room nights sold to fractional owners during year based upon sales plan 2 I .RS1-1 plans to hold back 4 weeks per year per room trom fractional ownership use to rent e]itire ]0dge to groups Exhibit 2a Little Red Ski Haus Fiscal Impact Analysis Of Fractional Ownership Development Pro Forma of Current Operations Going Forward Sales and Lodging Tax Detail | 2004 2005 2()06 2()()7 2008 | Direct Sales Avergage Daj[v Rate $ 130 $ 134 $ 138 $ 142 $ 147 Number of Rooms 13 13 13 13 13 Non-Peak Nights per Year 337 337 337 337 337 Non-Peak Room Nights Available 4381 4381 4381 4381 4381 Occupancy Rate 40% 40% 400/0 40% 4(){]41 Non-Peak Room Nights Rented 1752 1752 1752 1752 1752 Non-Peak Rental Revenue $ 227.812 $ 234,874 $ 242.155 $ 249.662 $ 257.402 Avergage Daily Rate - Peak Nights $ 275 $ 284 $ 292 $ 301 $ 311 Number of Rooms 13 13 13 13 13 Peak Nights per Year 28 28 28 28 28 Available Peak Room Nights Available 364 364 364 364 364 Occupancy Rate too% 100% 100% 1 ()()% [ 0()% Peak Room Nights Rented 364 364 364 364 364 Peak Revenue $ 100,100 $ 103,203 $ 106,402 $ 109-701 $ 113.102 Total Annual Rental Revenue 327.912 338,077 348,558 359363 37(),503 Sales Tax Rate 2 20% 2.20% 2,20% 2.20% 2 20'Ho Lodging Tax Rate 1.00% 1.00% 1.00% 1 ()()% 1.(,C)% City Portion of County Sales Tax Rate 0.90% 0.90% 0 90% 0.90% () 9()% Sales Tax Due from Room Rentals 7.214 7,438 7,668 7,906 8,151 Sales Tax Due from Restaurant 1.210 1248 1,286 1-326 1367 ['ola] Direct Sales Tax Due 8,424 8,685 8,954 9.232 9.518 Lodging Tax Due 3.279 3,381 3 486 3,594 3 7()5 City Portion 01'County Sales Tax Due 2,951 3.()43 3.137 3.234 3,335 Indirect Sales Tax Non-Peak Room Nights Rented 1,752 1.752 1.752 1,752 1,752 Peak Room Nights Rented 364 364 364 364 364 Total Room Niglits Rented 2,116 2,116 2,116 2,116 2,116 People per Room 2 2 2 2 2 Average Spending per Day (per Aspen Finance Director) $ 137 $ 141 $ 146 $ 150 $ 155 rotal Indirect Spending $579 894 $597,870 $616.404 $635,513 $655.214 City of Aspen Sales Tax Rate 2.20% 2.20Â°/0 2.20% 2 2()% 2 20% City Portion of County Sales Tax Rate () 90% 0 90% 0 90% (1.90% ().90% Indirect Sales lax 12.758 13,153 13,561 13.981 14,415 City Portion of County Indirect Sales Tax Due 5 219 5,381 5 548 5.720 5.897 Exhibit 4a Little Red Ski Haus Fiscal Impact Analysis Of Fractional Ownership Development Real Property Tax Summary Little Red Ski Haus as Hotel Property Tax Forecast 2004 2005 2006 2007 2008 Real Property Taxes Value of Land 787,500 787,500 787,500 811.913 811,913 Value of Improvements 3,237,882 3,237,882 3,237.882 3,338,256 3,338,256 Commercial Improvements 510,944 510,944 510.944 526,783 526,783 Total Value(1) 4,536,326 4,536,326 4,536,326 4,676,952 4,676,952 Property Tax Revenue Estimated Assessed Value 468,634 468,634 468,634 483,162 483,162 Pitkin County Millage Rate 29.738 29.738 29.738 29.738 29.738 Property Taxes 13,936 13,936 13,936 14,368 14,368 Property Tax due to the City of Aspen(2) 2,531 2,531 2,531 2,609 2,609 LRSH Fractional Ownership Development Property Tax Forecast 2004 2005 2006 2007 2008 Real Property Taxes Value of Land 787,500 787,792 788,377 813,722 814,931 Value of Improvements 3 237,882 3,239,084 3,241,489 3,345,697 3.350,665 Commercial Improvements 510,944 511,134 511,513 527.957 528,741 Total Value(]) 4,536,326 4,538,010 4,541,379 4,687,377 4,694,337 Property Tax Revenue Estimated Assessed Value 468,634 468,808 469,156 484,239 484,958 Pitkin County Millage Rate 29.738 29.738 29.738 29.738 29.738 Property T axes 13,936 13,941 13,952 14,400 14,422 Property Tax due to the City of Aspen(2) 2,531 2,532 2,534 2.615 2,619 ( 1) Value of LRSH as Fractional Ownership Development conservatively determined based upon average per square foot value of condominium sales in a 2 city block area surrounding LRSH during 2000-2002, data supplied by the Pitkin County Assessor's office. (2) Projected mill rates based upon 2002 rates - Pitkin County 29.738 per $1,000 value, City of Aspen portion 5.401 per $1,000 value, or 18.16% of total property tax Consumer Price Index All Items Denver, Boulder, Greeley Metropolitan Area Year Annual HALFt | HALF2 1983 100.5 1984 104.3 103.6 105.1 3.78% 1985 107.1 106.4 107.8 2.68% 198G 107.9 107.4 108.3 0.75% 1987 110.8 109.9 111.6 2.69% 113.7 112.8 114.7 2.62% 115.8 115.0 116.6 1.85% 1990 120.9 119.4 122.5 4.40% 125.6 124.8 126.4 3.89% 1992 130.3 129.0 131.6 3.74% 1993 135.8 134.6 137.0 4.22% 1994 141.8 140.0 143.6 4.42% 1995 147.9 146.9 149.0 4.30% 1996 153.1 152.0 154.2 3.52% 1997 158.1 157.1 159.1 3.27% 1998 161.9 160.5 163.3 2.40% 1999 166.6 165.1 168.2 2.90% 2000 173.2 171.4 175.1 3.96% 2001 181.3 180.7 181.8 4.68% 184.8 184.6 185.1 1.93% Average CPI 1983-2002: 3.10% 30 Year US Treasury Bond 5.09% 10 CMT 4.30% h15tl0y index go 20 CMT 5.19% h 1 5t20 index go Exhibit 1 Little Red Ski Haus Fiscal Impact Analysis of Fractional Ownership Development Plan Year 2004 2005 2006 2007 2008 Fractional Interest Sales 41 36 35 31 24 167 Owner Resales at 5% 1 2 4 6 8 Total Sales 41 38 39 37 32 Cumulative Sales 41 79 118 155 187 Value of Fractional Interest Sales (Avg. $84,838/Unit2) 3,478,358 Fractional Interest Sales 2,792,000 2,730,000 2,970,000 3,180,000 2,496,000 Owner Resales3 250,000 500,000 750,000 1,000,000 Total Sales per Year 2,792,000 2,980,000 3,470,000 3,930,000 3,496,000 Cumulative Sales Dollars 2,792,000 5,772,000 9,242,000 13,172,000 16,668,000 SALES SUMMARY TOTAL FRACTIONAL INTEREST SALES 167 FRACTIONAL INTEREST RESALES BY OWNERS 20 TOTAL SALES & RESALES 187 TOTAL PROJECT SALES REVENUE 16,668,000 1 RCI Consulting: National Survey of Property Owners 2 Represents Blended Price of 5 Classes of Fractional Interest Units ~ Estimated Blended Sales Price $125.000 Exhibit 3a Little Red Ski Haus Fiscal Impact Analysis Of Fractional Ownership Development Real Estate Transfer Tax Summary Tax As Fractional Increase to Rate Lodge Ownership City of Aspen Fractional Ownership Units Sold 1 187 Average Sales Pricel $ 2.164.800 - Total Project Sales $ 2.164.800 $ 16.668,000 $14.503.200 Specific Project Taxes Wheeler Opera Tax 0.50% 10,824 83.340 72,516 Employee Housing and Daycare Taxz 1.00% 20.648 16,200 (4,448) TOTAL TRANSFER TAX 31,472 99,540 68.068 1 Lodge market value based on 2003 property assessment provided by Pitkin County Assessor's Office 2 Affordable Employee Housing and Daycare Tax Rate does not apply to first $100,000 of a transaction Exhibit 3b Little Red Ski Haus Fiscal Impact Analysis Of Fractional Ownership Development Real Estate Transfer Tax Detail 2004 2005 2006 2007 2008 Total Total Unit Sales & Resales 41 38 39 37 32 187 Total Dollar Sales per Year 2.792.000 2,980,000 3.470.000 3.930.000 3.496,000 $ 16.668.000 Number of Sales < $100.000 37 27 22 19 14 119 Value of Sales <$100.000 2.312,000 1.740.000 1.520,000 1,560.000 1.116.000 $ 8.248.000 Number of Sales > $100,000 4 11 17 18 18 68 Value of Sales >$100,000 480.000 1,240,000 1,950,000 2,370.000 2.380,000 8,420.000 Wheeler Opera Tax 13.960 14.900 17,350 19,650 17.480 83,340 Employee Housing and Daycare 800 1,400 2,500 5.700 5,800 16.200 14.760 16,300 19.850 25,350 23.280 99,540 E x hibdt 4 Little Red Ski Haus Fiscal Impact Analysis Of Fractional Ownership Development Real Property Tax Summary Prior Ouner' LRSH Fractional Ownership Development Ilistorie Property Taxes Property Tax Forecast 1998 1999 2000 2001 2002 2004 2005 2006 2007 2008 Real Property Taxes Value of Land Ii/a 11/. Il/a 11/a 596.500 787.500 787.500 787.500 787 500 787.500 Value of Improvements n/a 11/a 11/. n/a 215.700 3.237.882 3.237.882 3.237.882 3-237 882 3.237.882 Commercial Improvements 510.944 510.944 510.944 510.944 510.944 Total Valuei 11/a 11/a 11/a 11/8 812.200 4.536.326 4 536.326 4.536.326 4.536.326 4.536.326 Property Tax Revenue Estimated Assessed Value n/a 11/a 11/a n/a 11/a 468.634 468.634 468:634 468.634 468.634 Pitkin County Millage Rate n/a Ii/a n/a n/a 11/a 29.738 29.738 29.738 29.738 29.738 Property Taxes 8.933 1.887 2.113 2,210 2.206 13.936 13.936 13.936 13.936 13.936 City of Aspeii portions 1.622 343 384 401 401 2.531 2-531 2.531 2.531 2,53] REAL PROPERn TAX St JIMAR) Prior Owner LRSH Proposal (1998-2002) (2004-2008) Difference PITKIN COUNTY TOTAL 17.349 69.681 52.332 CITY OF ASPEN TOTAI. 3.151 12.654 9.503 1 Only information available for prior owner time period from Pitkin County Assessor's website is real estate taxes paid 2 Value of LRSH as Fractional Ownership Development conservatively determined based upon average per square foot value of condominium sales in 2 city block area surrounding LRSH during 2000 to 2002, data supplied by Pitkin County Assessor's Office. ' Projected mill rates based upon 2002 rates - Pitkin County 29.738 per $1.000 value. City of Aspen portion 5.401 per $1,000 value. or 18.16% oftotal propertv tax Exhibit 5 Fiscal Impact Analysis Little Red Ski Haus Fractional Ownership Development Tax Mitigation Fee Calculation - City of Aspen Fractional Ownership Mitigation Tax Prior Owner Development Fee Transfer Tax $ 31.472 $ 99,540 $ - Real Estate Tax $ 3.151 $ 12,654 $ - Sales & Lodging Tax #REF ! #REF ! #REF! TOTAL REQUIRED FEE #REF! #REF! #REF! #REF ! Appendix A 2002 Property Tax Millage Rates Total Projeted Post Development Value 4.536,326 Estimated Assessed Value 468.634 Property Tax Breakdown Millage Rate Revenue Aspen School District 0.008946 4.192 City of Aspen 0.005401 2.531 Colorado Mountian College 0.003997 1,873 Open Space & Trails 0.003758 1.761 Pitkin County 0.003249 1.523 Aspen Valley Hospital 0.001500 703 Pitkin County Library 0.001038 486 Aspen Fire Protection 0.000876 411 County Housing Debt 0.000310 145 Colorado River Water Conservation 0.000253 119 Aspen Sanitation District 0.000208 97 Aspen Ambulance District 0.000202 95 Total Projected Pitkin County Property Tax Mill Rate 0.029738 $ 13.936 Appendix B Historical Consumer Price Index Datal CPI Annual Half 1 Half 2 annual Half 1 Half 2 1983 100.5 1984 104.3 103.6 105.1 3.8 3.78% 1985 107.1 106.4 107.8 2.8 2.68% 1986 107.9 107.4 108.3 0.8 0.75% 1987 110.8 109.9 111.6 2.9 2.69% 1988 113.7 112.8 114.7 2.9 2.62% 1989 115.8 115.0 116.6 2.1 1.85% 1990 120.9 119.4 122.5 5.1 4.40% 1991 125.6 124.8 126.4 4.7 3.89% 1992 130.3 129.0 131.6 4.7 3.74% 1993 135.8 134.6 137.0 5.5 4.22% 1994 141.8 140.0 143.6 6.0 4.42% 1995 147.9 146.9 149.0 6.1 4.30% 1996 153.1 152.0 154.2 5.2 3.52% 1997 158.1 157.1 159.1 5.0 3.27% 1998 161.9 160.5 163.3 3.8 2.40% 1999 166.6 165.1 168.2 4.7 2.90% 2000 173.2 171.4 175.1 6.6 3.96% 2001 181.3 180.7 181.1 8.1 4.68% 20 Yr Avg 2002 184.8 184.6 185.1 3.5 1.93% 2003 Use Average of Past 19 Years 3.26% 3.26% 2004 3.26% 3.24% 2005 3.26% 3.27% 2006 3.26% 3.39% 2007 3.26% 3.42% 2008 3.26% 3.45% 1Denver, Boulder, Greeley Metropolitan Area APPENDIX C Assumptions Assumptions for Transfer Tax Analysis 1 5% Owner Resales per RCI Consulting: National Survey of Property Owners 2 Number of available units to be fractionalized 12 3 Total number of possible Fractional Interests 154 4 Average Initial Sales Price of Fractionalized Interests $ 118.890 5 Average sales price per square foot of condo sales in surrounding 2 city blocks $ 766 6 Total Square feet o f rooms 4,227 7 Total Square feet of Common areas and restaurant 2,545 8 Total Square feet of restaurant alone 1.000 9 Value of Commercial Improvements per 2003 assessment, per square foot $ 201 10 Fractional interests will be assessed Single Family Residential after plan is approved 11 Wheeler Opera Transfer Tax 0.5% 12 Employee Housing and Daycare Tax (on transfers over $100,000) 1.0% Assumptions for Real Estate Tax Analysis 13 Mill Levy will remain approroximately the same as 2002 29.738 14 As Built value is identical to the Assessor's valuation for 2002 $ 2.164.800 Assessment Valuation Percentages 15 Single Family Residence - Land 7.96% 16 SFR - Improvements 7.96% 17 Commercial Improvements 29.00% Assumptions for Sales Tax Analysis 18 Historical Average Rental Rate - Prior Owner $ 50.00 19 Current Average Rental Rate As Proposed $ 200.00 20 For Rental purposes. the suite can be rented as 2 separate rooms 21 Current City Sales Tax Rate 2.2% 22 Annual tax contribution of food and beverage facility $ 1.210 23 Annual per square foot sales of food and beverage facility $ 55 MEMORANDUM TO: Mayor Klanderud and Aspen City Council THRU: Julie Ann Woods, Community Development Director 9~- -- FROM: James Lindt, Plannefj ( RE: Little Red Ski Haus Planned Unit Development Amendment, Subdivision, and Timeshare- 14 Reading of Ordinance No. 61, Series of 2003 DATE: November 24,2003 PROJECT: LITTLE RED SKI HAUS TIMESHARE REQUEST: The Applicant is requesting the appropriate land use approvals to convert the existing Little Red Ski Haus Lodge into a timeshare lodge. PROPOSED ZONING: R/MF with a Lodge Preservation (LP) and PUD Overlay LAND USE PUD Amendment, Subdivision, and Timeshare. REQUESTS: STAFF Staff recommends that City Council approve with conditions, the RECOMMENDATION: proposed requests. P&Z The Planning and Zoning Commission unanimously recommended that RECOMMENDATION: City Council approve the proposal as requested. SUMMARY OF REQUEST: The Applicant, Little Red Ski Haus, LLC, represented by Gouger & Franzmann. LLC, is requesting the appropriate land use approvals to convert the existing Little Red Ski Haus Lodge into a timeshare lodge. LAND USE ACTIONS REQUESTED: The Applicant is requesting the following land use actions for the proposed conversion to a timeshare lodge: â€¢ PUD Amendment â€¢ Subdivision â€¢ Timeshare City Council shall approve, approve with conditions, or deny the proposed requests after considering a recommendation from the Community Development Director and the Planning and Zoning Commission. -1- BACKGROUND: The Little Red Ski Haus Lodge located at 118 E. Cooper Avenue was renovated and expanded in 2001. In conjunction with the expansion of the structure, a PUD was approved to establish the site-specific development plan that currently exists. The property was also rezoned to include a Lodge Preservation and PUD Overlay as part of the development project. The reiiovated lodge now contains a total of thirteen (13) traditional lodge rooms, a manager's unit and an accessory dining facility. PROPOSED DEVELOPMENT: The Applicant is proposing to convert the existing lodge into a timeshare lodge pursuant to Land Use Code Section 26.590. Timeshare Development. Specifically. the Applicant is proposing to sell sixteen (16) fractional interests in twelve (12) of the units (the "Luxury Suite is to be made up of two (2) existing lodge units). Therefore, the Applicant is proposing to create a total of 192 fractional interests. Of the total fractional interests that would be created, the Applicant is proposing to retain four (4) weeks in each unit for the purpose of renting them out on a short-term basis and maintenance. The proposed fractional interest breakdown is illustrated in the chart below (please see floor plans attached as Exhibit "C" for location of room types): Number of Units Description Number of Fractional Number of Weeks Ownership Interests Allocated to Each Available per Unit Fractional Ownership Interest 1 Luxury Suite 16 3 Weeks (Combination of 2 Lodge Rooms) Executive/Family 16 3 Weeks Historic King 16 3 Weeks Standard King 16 3 Weeks Bunk Rooms 16 3 Weeks Additionally, the Applicant is not proposing any alterations to the structure itself in association with the proposed conversion to a timeshare lodge because the structure was brought up to current building code standards as part of the recent renovation. Therefore. the units are not proposed to have kitchens in them as they currently exist. STAFF COMMENTS: Staff has analyzed the application's compliance with the required timeshare elements below. Additionally. the Applicant has provided staff with a fiscal impact analysis and the City Finance Director is currently in the process of reviewing it to determine if the conversion of the Little Red Ski Haus from a traditional lodge use to a timeshare lodge use will have negative consequences on the City's tax collection abilities related to this property. The City Finance Director' s comments and recommendation on the proposed -2- ED Lo '90 60 conversion will be provided to City Council prior to second reading of the proposed ordinance. ~TAFF ANALYSIS OF TIMESHARE ASPECTS OF PROPOSAL: Physical Elements Staff believes that the Applicant has provided all of the mandatory physical elements for a timeshare development that are required by Land Use Code Section 26.590.060(A). The proposal includes a staffed, on-site front desk that will be open during regular business hours and provide full-time registration and reservation services. And, according to the application, the desk will also make arrangements for late check-ins and will accommodate walk-in rentals if a unit is available. Furthermore, staff believes that the existing lodge contains an adequate amount of recreational facilities and other anienities to serve its occupants given the relatively small size of the lodge. The lodge contains a Jacuzzi, an accessory dining room to serve guests, on-site laundry, and temporary ski storage facilities. Operational Characteristics The Applicant proposes to make the unit available to the general public as short-term accommodations when the owners of the unit are not using their time. It has been proposed by the Applicant that a fractional interest owner be required to alert the management company at least a month ahead of time if they plan on using a unit. Moreover, the application proposes to list the rooms for short-term rental with a central reservation system. Therefore, staff believes that the proposed operation plan will still allow for the property to accommodate short-term, walk-in business as is required in the mandatory tinieshare regulations. Staff also feels that the proposal meets some of the optional operational characteristics that are set forth in the Land Use Code in addition to the mandatory operational characteristics as is outlined below. The Applicant has proposed to subdivide the units into more than ten (10) fractional ownership interests per unit as is consistent with the optional characteristics that are encouraged in the timeshare regulations. Additionally, the Applicant has proposed to retain four (4) weeks per year in each unit for the purpose of renting them on a short-term basis as is also encouraged by the timeshare regulations. Staff believes that the Applicant's compliance with the abovementioned optional characteristics is important in that it will allow for the proposed timeshare lodge units to operate more iii the character of a traditional lodge than in the character of a residence. yet still attain the higher occupancy rates that are expected in con.j unction with fractionalizing the ownership. GMQS IMPLICATIONS: The Applicant is only proposing to convert the existing lodge into a timeshare lodge. which under the current land use code regulations does not have any growth management implications. Staff is currently looking at the employee generation differences between lodges and fractional ownership lodges to enact possible code amendments. LIowever, under the current land use code, the Growth Management Quota System treats both the -3- lodge use and the timeshare lodge use as equals. Therefore, the Applicant is not required to mitigate for employee housing in conjunction with the conversion. SUBDIVISION: In this case, the sole purpose of the subdivision request is to allow for the site to be condominiumized and placed in a fractional form of ownership. Staff believes that the proposal meets the review standards for subdivision. Staff also feels that the proposed fractional lodge use is appropriate for the site and is compatible with the surrounding lodge and multi-family residential uses. ISSUES: Off-Street Parking The existing lodge currently has three (3) on-site parking spaces for the thirteen (13) lodge units and one manager's unit. which yields an off-street parking ratio of.21 parking spaces per bedroom. This parking ratio was established and was determined to be acceptable through the recent PUD review for the expansion of the lodge. When the PUD for the remodel and expansion o f the lodge was reviewed. it was reviewed under the premise that there would be occasions when the lodge would be at 100% occupancy. Staff does not believe that converting the lodge to a timeshare lodge will ever push the occupancy level at one time over the 100% occupancy level that was considered in the PUD review. Therefore, staff believes that the existing parking is sufficient to accommodate the proposed conversion. Additionally, the timeshare regulations do not allow for the storage of vehicles on the site when an owner is not staying at the lodge. Staff has proposed to reinforce this regulation by including the prohibition of vehicle storage as a condition of approval in the proposed ordinance. 8TAFF RECOMMENDATION: It has been generally accepted that timeshare projects such as this proposal provide increased occupancy rates in relation to regular lodge units. Therefore, staff has no indication that the proposal would not benefit the community by increasing the number of people in town during the off-season to economically support the town's businesses. Additionally, staff believes that the proposal meets the timeshare lodge review standards. Therefore, staff recommends that City Council approve the proposed ordinance, thereby approving with conditions the proposed timeshare request. PLANNING AND ZONING COMMISSION RECOMMENDATION: The Planning and Zoning Commission reviewed the proposed request and unanimously recommended that City Council approve the conversion of the Little Red Ski Haus to a timeshare lodge as proposed. Several members of the Planning and Zoning Commission expressed that they felt this application was positive in that the proposed product and price is very different from the other timeshare units that have been proposed thus fur under the new timeshare regulations. Additionally, the Planning and Zoning Commission thought that the proposal contained a lot of the operational characteristics that are encouraged by the revised timeshare regulations. -4- RECOMMENDED MOTION: "I move to approve upon first reading. Ordinance No.~/, Series of 2003, approving a PUD amendment, subdivision, and timeshare lodge development request to allow for the Little Red Ski Haus Lodge to convert to a timeshare lodge with the conditions set forth -- therein. CITY MANAGER'S COMMENTS: ATTACHMENTS EXHIBIT A - REVIEW CRITERIA AND STAFF FINDINGS EXHIBIT B - APPLICATION EXHIBIT C - EXISTING FLOOR PLANS EXHIBIT D - PLANNING AND ZONING COMMISSION RESOLUTION -5- ORDINANCE NO. ~ (SERIES OF 2003) AN ORDINANCE OF THE ASPEN CITY COUNCIL APPROVING THE LITTLE RED SKI HAUS PLANNED UNIT DEVELOPMENT AMENDMENT, SUBDIVISION, AND TIMESHARE APPLICATION ON THE PROPERTY DESCRIBED AS LOT O AND THE WEST HALF OF LOT P, BLOCK 69, CITY AND TOWNSITE OF ASPEN, PITKIN COUNTY, COLORADO Parcel ID: 2735-124-71-005 WHEREAS, the Community Development Department received an application from Little Red Ski Haus LLC, owner, represented by Gouger & Franzmann LLC, requesting approval of a Planned Unit Development Amendment, Subdivision, and Timeshare to convert the existing Little Red Ski Lodge to a timeshare lodge on the property described as Lot O and the West one-half of Lot P, Block 69, City and Townsite of Aspen; and, WHEREAS, the subject property is located in the Residential Multi-Family (R/MF) Zone District with a Lodge Preservation (LID and PUD Overlay; and, WHEREAS, pursuant to Land Use Code Section 26.304.060(B). Combined Reviews, the Community Development Director in consultation with the applicant has concluded that a combined review of the land use requests associated with this application would reduce duplication and ensure economy of time, expense, and clarity; and, WHEREAS, pursuant to Land Use Code Section 26.445, Planned Unit Development; Section 26.480, Subdivision: and. Section 26.590, Timeshare, the City Council may approve, approve with conditions, or deny the land use requests made by the Applicant during a duly noticed public hearing after taking and considering comments from the general public. and recommendations from the Planning and Zoning Commission, Community Development Director, and relevant referral agencies: and, WHEREAS, upon review of the application and the applicable code standards. the Community Development Department recommended approval of the proposed PUD amendment, subdivision, and timeshare requests, with conditions; and, WHEREAS, during a duly noticed public hearing on November 4, 2003, the Planning and Zoning Commission approved Resolution No. 26, Series of 2003, by a seven to zero (7-0) vote, recommending that City Council approve the requested PUD amendment, subdivision, and timeshare request; and, WHEREAS, the Aspen City Council has reviewed and considered the development proposal under the applicable provisions of the Municipal Code as identified herein, has reviewed and considered the recommendation of the Planning and Zoning Commission. the Community Development Director, the applicable referral agencies. and has taken and considered public comment at a public hearing; and, WHEREAS, the City Council finds that the development proposal meets or exceeds all applicable development standards and that the approval of the development proposal, with conditions, is 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 the promotion ofpublic health, safety, and welfare. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ASPEN, COLORADO THAT: Section 1: Pursuant to the procedures and standards set forth in City of Aspen Land Use Code Section 26.445, Planned Unit Development% Section 26.480, Subdivision: and Section 26.590, Timeshare, City Council hereby approves a PUD Amendment, Subdivision, and Timeshare request to allow for the Little Red Ski Hails Lodge located at 118 E. Cooper Avenue to convert to a timeshare lodge, with the following conditions: 1. The approved fractional interest breakdown is as follows: Number of Units Description Number of Fractional Number of Weeks Ownership Interests Allocated to Each Available per Unit Fractional Ownership Interest 1 Luxury Suite 16 3 Weeks (Consisting of 2 of the existing lodge rooms) 3 Executive/Family 16 3 Weeks 3 Historic King 16 3 Weeks 3 Standard King 16 3 Weeks 2 Bunk Rooms 16 3 Weeks 2. The City of Aspen Finance Department shall conduct an annual audit of the sales tax revenues that the City collects from the Little Red Ski Haus Lodge over its first five (5) years of operation as a timeshare lodge, to determine if the projected revenues are accurate. The Applicant shall cooperate with the Finance Department in its annual audit efforts. 3. Final Condominium Declarations shall be submitted to the City concurrent with the submission of the Condominium Subdivision Plat and shall include the following language regarding timeshare: a. Timeshare estates, including the four (4) weeks per unit that are to be retained by the Applicant, shall be made available for short- term rental when the estate is not in use by the owner of the unit, the owner's guests, or persons occupying the unit under an exchange program. Units that are available for rental shall be listed at competitive rates in a central reservation system. b. The covenants of the homeowners association shall permit walk- in rental of units. The association shall not limit rental of units to such arrangements as only weekly rentals or Saturday-to- Saturday rentals: instead the association shall permit shorter stays, split-week rentals, and similar flexible arrangements. c. Owners of timeshare estates shall be required to reserve their unit/time sufficiently far enough in advance to enable the public to obtain access to those units that are not so reserved. The term "sufficiently" shall be specifically defined as a full month (30 days) prior to the first day of the intended stay. d. The owner of a timeshare estate shall not be permitted to occupy that estate for any period in excess o f thirty (30) consecutive calendar days. e. The owner of a timeshare estate shall be prohibited from storing a vehicle in a parking space on-site when that owner is not using the estate. 4. The Applicant shall submit all timeshare documents and disclosure statements to the City Attorney for review prior to their recordation at the Pitkin County Clerk and Recorder's Office. 5. Each owner of an estate shall have an undivided interest in the common recreational areas within the facility. 6. The timeshare lodge units that remain in the developer's inventory shall be made available for rental to the public while the estates are being sold, except for models and other units that are needed for marketing or promotional purposes. Section 2: 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 construed and concluded under such prior ordinances. Section 3: 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 ofthe remaining portions thereof. Section 4: A public hearing on the ordinance shall be held on the 15th day of December, 2003, in the City Council Chambers, Aspen City Hall, Aspen, Colorado. INTRODUCED, READ AND ORDERED PUBLISHED as provided by law, by the City th Council of the City of Aspen on the 24 day ofNovember, 2003. Ilelen Kalin Klanderud, Mayor Attest: Kathryn S. Koch, City Clerk FINALLY, adopted, passed and approved by a vote of to (_-_). this 15th day of December, 2003. 1-Ielen Kalin Klanderud. Mayor Attest: Kathryn S. Koch, City Clerk Approved as to form: John P. Worcester, City Attorney EXHIBIT A PLANNED UNIT DEVELOPMENT (PUD) Review Criteria & Staff Findings In accordance with Section 26.445.030(B)(3) of the Land Use Code, due to the limited extent of the issues involved, a development application requesting approval as a Planned Unit Development on a parcel of land located in the Lodge Preservation (LP) Overlay Zone District shall be processed pursuant to the terms and procedures of Minor Planned Unit Development review (Minor PUD). This two-step process does not require approval of a conceptual development plan, but only review and approval of a final development plan by the Planning and Zoning Commission and the City Council, with public hearings occurring at both. Section 26.445.050, Review Standards: Minor PUD Section 26.445.050 ofthe Regulations provides that development applications for Minor PUD must comply with the following standards and requirements. A. General Requirements. 1. The proposed development shall be consistent with the Aspen Area Community Plan. Staff Finding Staff believes that the proposed request is consistent with the Aspen Area Community Plan. Staff does 11Ot feel that subdividing the proposed development for the purpose of allowing for the units to be owned under a fractional form of ownership is contrary to the goals of the AACP. The City has embraced the idea that timeshare development will help iii maintaining a healthier year-round economy as a result of the higher occurancies that are predicted with timeshare development as is consistent with the goals of the Economic Sustainability portion of the AACP. Staff finds this criterion to be met. 2. The proposed development shall be consistent with the character of existing land uses in the surrounding area. Staff Finding Staff believes that the proposed timeshare lodge use is consistent with the character of the existing land uses in the surrounding area. The majority of the properties in the immediate vicinity are small lodging establishments or multi-family buildings consisting of three or more units. Staff believes that a lodge or a timeshare development is the appropriate land use for the subject parcel. Staff finds this criterion to be met. 3. The proposed development shall not adversely a.ffect the future development of the surrounding area. -6- Staff Finding Staff does not believe that the conversion of the Little Red Ski Hails to a timeshare lodge will adversely affect the future development of the surrounding area. Thus, staff finds this criterion to be met. 4. The proposed development has either been granted GMUS allotments, is exempt from GMQS, or GMQS allotments are available to accommodate the proposed development and will be considered prior to, or in combination with,.final PUD development plan review. Staff Finding Under the current land use code requirements, the Growth Management Quota System treats lodge units and timeshare lodge units the same. And therefore, because the Applicant is not requesting to alter the number of bedrooms and is only requesting to convert the existing lodge units into timeshare lodge units, additional GMQS allotments are not required for the conversion. Staff finds this criterion to be met. B. Establishment of Dimensional Requirements: The final PUD development plans shall establish the dimensional requirements for all properties within the PUD. The dimensional requirements of the underlying zone district shall be used as a guide in determining the appropriate dimensions for the PUD. During review o.f the proposed dimensional requirements, compatibility with surrounding land uses and existing development patterns shall be emphasized. 1. The proposed dimensional requirements for the subject property are appropriate and compatible with theft}llowing influences on the property: a) The character of, and compatibility with, existing and expected future land uses in the surrounding area. b) Natural and man-made hazards. c) Existing natural characteristics Of the property and surrounding area such as steep slopes, waterways, shade, and signiticant vegetation and landli,)rms. d) Existing and proposed man-made characteristics of the property and the surrounding area such as noise, traffic, transit, pedestrian circulation, parking, and historical resources. Staff Finding The Applicant is not requesting to vary the allowable dimensional requirements from what was approved in City Council Ordinance No. 11, Series of 2002. Therefore. staff does not believe that this criterion is applicable to this application. 2. The proposed dimensional requirements permit a scale, massing, and quantity of open space and site coverage appropriate and favorable to the character of f he proposed PUD and off he surrounding area. -7- Staff Finding The Applicant is not requesting to vary the allowable dimensional requirements from what was approved in City Council Ordinance No. 11, Series of 2002. Therefore. staff finds this criterion not to be applicable to this application. 3. The appropriate number of off-street parking spaces shall be established based on the following considerations: a) The probable number of cars used by those using the proposed development including any non-residential land uses. b) The varying time periods of use, whenever joint use of common parking ts proposed c) The availability of public transit and other transportation facilities, including those for pedestrian access and/or the commitment to utilize automobile disincentive techniques in the proposed development. d) The proximity of the proposed development to the commercial core and general activity centers in the city. Staff Finding The existing lodge currently has three (3) on-site parking spaces for the thirteen (13) lodge units and one manager's units, which yields an off-street parking ratio of .21 parking spaces per lodging bedroom. This parking ratio was established aiid was determined to be acceptable through the recent PUD review for the expansion of the lodge. When the PUD for the remodel and expansion of the lodge was reviewed, it was reviewed under the premise that there would be occasions when the lodge would have 100% occupancy. Staff does not believe that converting the lodge to a timeshare lodge will ever push the occupancy level at one time over the 100% occupancy level that was considered in the PUD review. Therefore, staff believes that the existing parking is sufficient to accommodate the proposed conversion. Additionally, the timeshare regulations do not allow for the storage of vehicles on the site when an owner is not staying at the lodge. Staff has proposed to reinforce this regulation by including the prohibition of vehicle storage as a condition of approval in the proposed resolution. 4. The maximum allowable density within a PUD may be reduced if there exists insufficient infrastructure capabilities. Specifically, the maximum density of a PUD may be reduced if: a) There is not sufficient water pressure, drainage capabilities, or other utilities to service the proposed development. b) There are not adequate roads to ensurefire protection, snow removal, and road maintenance to the proposed development. Staff Finding The Applicant is not requesting that the maximum allowable density be reduced. Therefore. staff finds this criterion not to be applicable to this application. -8- 5. The maximum allowable density within a PUD may be reduced if there exists natural hazards or critical natural site Â·features. Specifically, the maximum density o.f a PUD may be reduced if: a) The land is not suitable for the proposed development because of ground instability or the possibility of mudflow, rockfails or avalanche dangers. b) The effects of the proposed development are detrimental to the natural watershed, due to runoff, drainage, soil erosion, and consequent water pollution. c) The proposed development will have a pernicious effect on air quality in the surrounding area and the City. d) The design and location of any proposed structure, road, driveway, or trail in the proposed development is not compatible with the terrain or causes harmful disturbance to critical natural features of the site. Staff Finding The Applicant is not requesting a reduction iii the maximum allowable density established in the Little Red Ski Haus PUD. Staff finds this criterion not to be applicable to this application. 6. The maximum allowable density within a PUD may be increased if there exists a significant community goal to be achieved through such increase and the development pattern is compatible with its surrounding development patterns and with the site's physical constraints. Specifically, the maximum density of a PUD may be increased if: a) The increase in density serves one or more goals of the community as expressed in the Aspen Area Community Plan (AACP) or a specific area plan to which the property is subject. b) The site's physical capabilities can accommodate additional density and there exists no negative physical characteristics of the site, as identified in subparagraphs 4 and 5, above, those areas can be avoided, or those characteristics mitigated. c) The increase in maximum density results in a development pattern compatible with, and complimentary to, the surrounding existing and expected development pattern, land uses, and characteristics. Staff Finding The Applicant is not requesting to increase the allowable density through the proposed PUD amendment. Staff finds that this criterion not to be applicable to this application. B. Site Design: The purpose of this standard ix to ensure the PUD enhances public spaces, is complimentary to the site'x natural and man-made features and the adjacent public spaces, and ensures the public's health and safety. The proposed development shall comply with the.following: 1. Existing natural or man-made features Of the site which are unique, provide visual interest or a specific reference to the past, or contribute to the identity of the town are preserved or enhanced in an appropriate manner. -9- Staff Finding The Applicant is not proposing any physical alterations to the Little Red Ski Haus structure or site. Staff finds this criterion not to be applicable to this application. 2. Structures have been clustered to appropriately preserve significant open ,spaces and vistas. Staff Finding The Applicant is not proposing any physical alterations to the Little Red Ski Haus structure or site. Staff finds this criterion not to be applicable to this application. 3. Structures are appropriately oriented to public streets, contribute to the urban or rural context where appropriate, and provide visual interest and engagement of vehicular and pedestrian movement. Staff Finding The Applicant is not proposing any physical alterations to the Little Red Ski Haus structure or site. Staff finds this criterion not to be applicable to this application. 4. Buildings and access ways are appropriately arranged to allow emergency and service vehicle access. Staff Finding The Applicant is not proposing any physical alterations to the Little Red Ski Haus structure or site. Staff finds this criterion not to be applicable to this application. 5. Adequate pedestrian and handicapped access is provided. Staff Finding Adequate pedestrian and handicapped access was provided through improvements made to the structure as part of the recent remodel and expansion. Staff finds this criterion to be met. 6. Site drainage ix accommodated .for the proposed development in a practical and reasonable manner and shall not negatively impact surrounding properties. Staff Finding Site drainage was reviewed during the review of the initial PUD application and this request would not physically alter the structure. Therefore, staff finds this criterion not to be applicable to this application. 7. V or non-residential land uses, spaces between buildings are appropriately de-signed to accommodate any programmatic functions associated with the use. - 10 - Staff Finding The Applicant is not proposing to alter the existing structure. Therefore, there will not be a change in the programmatic functions associated with the site. Thus, staff finds that this criterion is not applicable to the proposal. C. Landscape Plan: The purpose of this standard is to ensure compatibility of the proposed landscape with the visual character of the city, with surrounding parcels, and with existing and proposed features of the subject property. The proposed development shall comply with the following: 1. The landscape plan exhibits a well designed treatment of exterior spaces, preserving existing significam vegetation, and provides an ample quantity and variety of ornamental plant species suitable Â·for the Aspen area climate. Staff Finding The Applicant is not proposing to alter the existing landscaping that was approved through the original PUD. Staff finds this criterion not to be applicable to this application. 2. Significant existing natural and man-made site .fratures, which provide uniqueness and interest in the landscape, are preserved or enhanced in an appropriate manner. Staff Finding The Applicant is not proposing to alter the existing site or structure as part of this amendment. Staff finds this criterion not to be applicable to this application. 3. The proposed method of protecting existing vegetation and other landscape .features is appropriate. Staff Finding The Applicant is not proposing to alter the existing site or structure as part of this amendment. Staff finds this criterion not to be applicable to this application. D. Architectural Character: It is the purpose of this standard to encourage architectural interest, variety, character, and visual identity in the proposed development and within the City while promoting efficient use of resources. Architectural character is based upon the suitability of a building for its purposes, legibility of the building's use, the building's proposed massing, proportion, scale, orientation to public spaces and other buildings, use of materials, and other attributes which may significantly represent the character of the proposed development. There shall be approved as part of the final development plan and architectural character plan, which adequately depicts the character of the proposed development. The proposed architecture ofthe development shall: 1. be compatible with or enhance the visual character Of the city, appropriately relate to existing und proposed architecture of the property, -11- represent a character suitable for, and indicative of, the intended use, and respect the scale and massing of nearby historical and cultural resources. Staff Finding The Applicant is not proposing to alter the existing structure in which the architecture was approved of in the original Little Red Ski Haus PUD. Staff finds this criterion not to be applicable to this application. 2. Incorporate, to the extent practical, natural heating and cooling by taking advantage of the property's solar access, shade, and vegetation and by use of non- or less-intensive mechanical systems. Staff Finding The Applicant is not proposing to alter the existing structure. Staff finds this criterion not to be applicable to this application. 3. Accommodate the storage and shielding of snow, ice, and water in a safe an appropriate manner that does not require significant maintenance. Staff Finding The Applicant is not proposing to alter the existing structure. Therefore, staff finds this criterion not to be applicable to this application. E. Lighting: The purpose of this standard ix to ensure the exterior of the development will be lighted in an appropriate manner considering both public safety and general aesthetic concerns. The following standards shall be accomplished: 1. All lighting is proposed No as to prevent direct giare or hazardous interference of any king to adjoining streets or lands. Lighting o.f site .features, structures, and access ways is proposed in an appropriate manner. Staff Finding The Applicant is required to, and has consented to meet the City of Aspen Lighting Code for any exterior lighting that is proposed. Staff believes that the Applicant's required compliance with the City Lighting Code ensures that the development will be lighted in an appropriate manner. Staff finds this criterion to be met. 2. AN exterior lighting shall be in compliance with the Outdoor Lighting Standards unless otherwise approved and noted in the.final PUD documents. Up-lighting of site.features, buildings, landscape elements, and lighting to call inordinate attention to the property is prohibited for residential development. - 12 - Staff Finding The Applicant is required to meet the City of Aspen Lighting Code on the existing development. Staff finds this criterion to be met. G. Common Park, Open Space, or Recreation Area: If the proposed development includes a common park, open space, or recreation areafor the mutual benefit of all development in the proposed PUD, the following criteria shall be met: 1. The proposed amount, location, and design of the common park, open space, or recreation area enhances the character Of the proposed development, considering existing and proposed structures and natural landscape features O.f the property, provides visual relief to the property's built Â·form, and is available to the mutual bene.fit of the various land uses and property users of the PUD. Staff Finding The Applicant is not proposing any common park or open space on the site. Staff finds that this criterion is not applicable to this proposal. 2. A proportionate, undivided interest in all common park and recreation areas is deeded in perpetuity Olot.for a number of years) to each lot or dwelling unit owner within the PUD (}r ownership is proposed in a similar manner. Staff Finding The Applicant is not proposing any common park or open space on the site. However, staff has proposed a condition of approval that requires each owner of an estate have access to the common recreation facilities within the development. Staff finds this criterion to be met. 3. There is proposed an adequate assurance through legal instrument for the permanent care and maintenance o.f open spaces, recreation areas, and shared facilities together with a deed reâ€žfriction against .future residential, commercial, or industrial development. Staff Finding There is no proposed open space or common park on the site. However, the recreation area (Jacuzzi Spa and deck) is to be maintained by the management company that manages the timeshare lodge. In addition, the future residential. commercial. or industrial development of the recreation area would be regulated by the dimensional requirements that are established were established in the final development plan. Therefore, any future development of the recreation area would require an amendment to the PUD. Staff finds this criterion to be met. H. Utilities and Public Facilities: The purpose of this standard is to ensure the development does not impose any undue burden on the City's infrastructure capabilities and that the public does -13- not incur an unjustified .financial burden. The proposed utilities and public .facilities associated with the development shall comply with the following: 1. Adequate public in.frastructure facilities exist to accommodate the development. Staff Finding The Applicant is not proposing to alter the existing structure. Staff finds this criterion not to be applicable to this application. 2. Adverse impacts on public infrastructure by the development will be mitigated by the necessary improvements at the sole cost of the developer. Staff Finding The Applicant is not proposing to alter the existing structure through this amendment and staff does not believe that the conversion of the units to a timeshare lodge will have a substantial adverse impact on the existing public infrastructure. Therefore, staff finds this criterion not to be applicable to this application. 3. Oversized utilities, public facilities, or site improvements are provided appropriately and where the developer is reimbursed proportionately for the additional improvement. Staff Finding The Applicant is not proposing any alterations to the existing structure and the utility and public facility improvements were considered in reviewing the original PUD application. Staff finds this criterion not to be applicable to this application. f. Access and Circulation (Only standards 1&2 apply to Minor PUD applications): The purpose o.f this standard is to ensure the development is easily accessible, does not unduly burden the surrounding road network, provides adequate pedestrian and recreational trail facilities and minimizes the use O.f security gates. The proposed access and circulation of the development shall meet the following criteriu: 1. Each lot, structure, or other land use within the PUD has adequate access to a public street either directly or through and approved private road, a pedestrian way, or other area dedicated to public or private use. Staff Finding The Applicant is not proposing any physical alteration to the existing structure or site. The access was contemplated and considered to be sufficient during the review of the original PUD application. Staff finds this criterion to be met. 2. The proposed development vehicular access points, and parking arrangement do not create traffic congestion on the roads surrounding the proposed development, or such surrounding roads are proposed to be improved to accommodate the development. - 14 - Staff Finding The Applicant is not proposing any physical alteration to the existing structure or site. The access and parking for the Little Red Ski Haus was contemplated and considered sufficient during the review of the original PUD applications. Staff finds this criterion to be met. J. Phasing of Development Plan. The purpose of these criteria is to ensure partially completed pro.jects do not create an unnecessary burden on the public or surrounding property owners and impacts of an individual phase are mitigated adequately. If phasing ofthe development plan is proposed, each phase shall be defined in the adopted.final PUD development plan. The phasing plan shall comply with the following: 1. All phases, including the initial phase, shall be designed to function as a complete development and shall not be reliant on subsequent phases. 2. The phasing plan describes physical areas insulating, to the extent practical, occupants of initial phases from the construction of later phases. 3. The proposed phasing plan ensures the necessary or proportionate improvements to public facilities, payment of impact fees and tee,%-in-lieu, construction of any.facilities to be used .jointly by residents of the PUD, construction of any required affordable housing, and any mitigation measures are realized concurrent or prior to the respective impacts associated with the phase. Staff Finding The Applicant is not proposing any physical alterations to the existing structure. Therefore no phasing is proposed. Thus, staff finds this criterion not to be applicable to this application. -15- Subdivision REVIEW CRITERIA & STAFF FINDINGS Section 26.480 of the City Land Use Code provides that development applications for Subdivision must comply with the following standards and requirements. A. General Requirements: 1. The proposed subdivision shall be consistent with the Aspen Area Comprehensive Plan. Staff Finding Staff believes that the proposed request is consistent with the Aspen Area Community Plan. Staff does not feel that subdividing the proposed development for the purpose of allowing for the units to be owned under a fractional form of ownership is contrary to the goals of the AACP. The City has embraced the idea that timeshare development will help in maintaining a healthier year-round economy as a result of the higher occupancies that are predicted with timeshare development as is consistent with the goals of the Economic Sustainability portion of the AACP. Staff finds this criterion to be met. 2. The proposed subdivision shall be consistent with the character of existing land uses iii the area. Staff Finding Staff believes that the proposed timeshare lodge use is consistent with the character o f the existing land uses iii the surrounding area. The majority of the properties in the immediate vicinity are small lodging establishments or multi-family buildings consisting of three or more units. Staff believes that a lodge or a timeshare development is the appropriate land use for the subject parcel. Staff finds this criterion to be met. 3. The proposed subdivision shall not adversely affect the future development Of surrounding areas. Staff Finding Staff does not believe that the proposed conversion of the Little Red Ski Haus Lodge to a timeshare lodge will have an adverse affect on the future development of the surrounding properties. Staff finds this criterion to be met. 4. The proposed subdivision shall be in compliance with all applicable requirements of this Title. Staff Finding Staff believes that the proposed subdivision to allow for timeshare of the existing lodge in itself is iii compliance with all the applicable requirements of the Land Use Code. - 16 - B. Suitability of Landfor Subdivision a. Land suitability. The proposed subdivision shall not be located on land unsuitable for development because offlooding, drainage, rock or soil creep, mudflow, rockslide, avalanche or snowslide, steep topography or any other natural hazard or other condition that will be harmful to the health, safety, or welfare of the residents in the proposed subdivision. b. Spatial pattern e#icient. The proposed subdivision shall not be designed to create spatial patterns that cause inefficiencies, duplication or premature extension of public facilities and unnecessary public costs. Staff Finding The subject site is currently developed and is not located in an area of geological hazard that would put the inhabitants in of the proposed development at risk. In addition, staff does not believe that the proposal will require duplication or extension of public facilities. Staff finds these standards not to be applicable. C. Improvements. The improvements setforth at Chapter 26.580 shall be provided for the proposed subdivision. These standards may be varied by special review (See, Chapter 26.430) if the following conditions have been met: 1. A unique situation exists for the development where strict adherence to the subdivision design standards would result in incompatibility with the Aspen Area Comprehensive Plan, the existing, neighboring development areas, and/or the goals of the community. 2. The applicant shall specify each design standard variation requested and provide justification.for each variation request, providing design recommendations by professional engineers as necessary. Staff Finding The Applicant is not proposing to physically alter the existing structure and the site improvements were made and accepted during the original PUD approval. Staff believes that sub-standards 1 and 2 are not applicable. D. Affordable housing. A subdivision which is comprised of replacement dwelling units shall be required to provide affordable housing in compliance with the requirements of Chapter 26.520, Replacement Housing Program. A subdivision which is comprised of new dwelling units shall be required to provide affordable housing in compliance with the requirements of Chapter 26.470, Growth Management Quota System. -17- Staff Finding The conversion of the existing lodge to a timeshare lodge does not currently require employee-housing mitigation if the Applicant is not doing a physical expansion to the number of bedrooms. It should be noted that staff is currently looking at the employee generation rates between a lodge and a timeshare lodge with a consultant and a conversion of this nature in the future may require mitigation. Staff finds this criterion to be met. E. School Land Dedication. Compliance with the School Land Dedication Standards set forth at Chapter 26.630. Staff Finding The Applicant is proposing a conversion to a timeshare lodge and there are no residential units being created in the proposed development. The school land dedication requirement is only applicable to subdivisions that add residential units. Therefore, staff finds this review standard not to be applicable to this application. F. Growth Management Approval. Subdivision approval may only be granted to applications for which all growth management development allotments have been granted or growth management exemptions have been obtained, pursuant to Chapter 26.470. Subdivision approval may be granted to create a parce[(s) z.oned Affordable Housing Planned Unit Development (AH-PUD) without first obtaining growth management approvals if the newly created parce!(s) is required to obtain such growth management approvals prior to development through a legal instrument acceptable to the City Attorney. (Ord. No. 44-2001, Â§ 2) Staff Finding A conversion from a lodge to a timeshare lodge that does not add bedrooms does 11Ot require a GMQS allotment or exemption. Please see staff's response to review standard "D" above. Staff finds this criterion not to be applicable to this application. -18- Timeshare REVIEW CRITERIA & STAFF FINDINGS Section 26.590 of the City Land Use Code provides that development applications for Timeshare Lodge Development must comply with the following standards and requirements. A. Fiscal Impact Analysis and Mitigation. Any applicant proposing to convert an existing lodge to a timeshare lodge development shall be required to demonstrate that the proposed conversion will not have a negative tax consequence -for the City. In order to demonstrate the tax consequences of the proposed conversion, the applicant shall prepare a detailed fiscal impact study as part of the final PUD application. The fiscal impact study sliall contain at least the following comparisons between the existing lodge operation and the proposed timeshare lodge development: 1. A summary of the sales taxes paid to the City for rental of lodge rooms during the priortive years of its operation. If the lodge has stopped renting rooms prior to the time of submission of the application, then the summary shall reflect the final five years the lodge was in operation. The summary of past taxes paid shall be compared to a projection of the sales taxes the proposed timeshare lodge development will pay to the City over the first five years of its operation. As part of this projection, the applicant shall specify the number of nights the applicant anticipates each timeshare lodge unit will be available for daily rental to visitors (that is, the annual number of nights when the unit will not be occupied by the owner or the owner's guests), the expected visitor occupancy rate for these units, the expected average daily cost to rent the unit, and the resulting amount of sales tax that will be paid to the City. 2. An estimation of tile real estate transfer taxes that would be paid to the City if the existing lodge were to be sold. If an actual sale of the property has occurred within the last 12 months, then the real estate taxes paid for that sale shall be used. This estimation shall be compared to a projection of tile real estate transfer taxes the proposed timeshare lodge development will pay to the City over thefirstfive years ofits operation. This projection shall include a statement of the expected sales prices for the timeshare estates, and the applicable tax rate that will be applied to each sale. 3. A summary of the City-portion of the property taxes paid for the lodge -for the prior five years of its operation, and a projection of the property taxes the proposed timeshare lodge development will pay to the City over the first five years of its operation. This projection shall include a statement of the expected value that will be assigned to the property by the Tax Assessor, and the applicable tax rate. - 19 - Thefiscal impact study may also contain such other information that the applicant believes is relevant to understanding the tax consequences Of the proposed development. For example, the applicant may provide information demonstrating there will be "secondary", or "indirect" tax benefits to the Ciofrom the occupancy of the timeshare units, in terms of increased retail sales and other economic activity in the community as compared to the existing lodge development. The applicant shall be expected to prove definitively why the timeshare units would cause such economic advantages that would not be achieved by a traditional lodge development. Any such additional information provided shall compare the taxes paid during the prior five years of the lodge's operation to the first.five years of the proposed timeshare lodge's operation. If the fiscal impact study demonstrates there will be an annual tax loss to the City from the conversion of an existing lodge to a timeshare lodge, then the applicant shall be required to propose a mitigation program that resolves the problem, to the satisfaction of the Aspen City Council. The accepted mitigation program shall be documented in the PUD Agreement for the project that is entered into between the applicant and the Aspen City Council. Staff Findings The Applicant has provided a fiscal impact analysis that projects that there will be an overall net gain in taxes collected as a result of the proposed timeshare development over the first five (5) years of it's operation as compared to the last five (5) years of operation of the existing Little Red Ski Haus Lodge. The Planning Staff has referred the proposal to the City Finance Director for comments on the fiscal impact analysis. The timeshare regulations that were approved and enacted late last year established that City Council, at its sole discretion, would determine whether the fiscal impacts of a timeshare project would necessitate mitigation for a loss in sales tax revenues to the City. The City nd Finance Director's analysis will be provided to City Council prior to 2 Reading of the proposed ordin ance. 8. Upgrading of Existing Projects. Any existing project that is proposed to be converted to a timeshare lodge development shall be physically upgraded and modernized. The extent of the upgrading that is to be accomplished shall be determined as part of the PUD review, considering the condition of the existing facilities, with the intent being to make the development compatible in character with surrounding properties and to extend the useful life of the building. 1. To the extent that it would be practical and reasonable, existing structures shall be brought into compliance with the City's adopted.fire, health, and building codes. - 20 - 2. No sale of any interest in a timeshare lodge development shall be closed until a certificate of occupancy has been issuedfor the upgrading. Staff Finding The Applicant is not proposing to further upgrade the structure because the structure was brought into compliance with the applicable fire, health, and building codes as part of the lodges remodel and expansion .just about a year ago. Additionally. the lodge has already completed their remodel and has a certificate of occupancy. Staff finds this criterion to be met C. Preservation of Existing Lodging Inventory. An express purpose of these regulations is to preserve ancl enhance Aspen's existing lodging inventory. Therefore, any proposal to convert an existing lodge or other property that provides short term accommodations to a timeshare lodge should, at a minimum, replace tile existing number of units on the property in the planned timeshare lodge. If the applicant is unable to replace the existing number of units, then the timeshare lodge development shall replace the existing number of bedrooms on the property, or the applicant shall demonstrate how the proposal complies with the purposes of these regulations, even though the planned timeshare lodge will not replace either the existing number of units or bedrooms. Staff Finding The Applicant is proposing to convert the existing lodge rooms to timeshare lodge rooms. Additionally, the Applicant is not proposing to reduce the number of accommodation bedrooms. Therefore. staff finds this criterion to be met. D. Affordable Housing Requirements. 1. Whenever a tinieshare lodge development is required to provide affordable housing, mitigation for the development shall be calculated by applying the standards of the City's housing designee for lodge uses. The affordable housing requirement shall be calculated based on the maximum number of proposed lock out rooms in the development, anci shall also take into account any retail, restaurant, conference, or other functions proposed in the lodge. 2. The conversion of any multi-family dwelling unit that meets the definition of residential multi-family housing to timesharing shall comply with the provisions of Chapter 26.530, Resident Multi-Family Replacement Program, even when there is no demolition of the existing multi-family dwelling unit. Staff Finding The current land use code standards do not require a conversion from a lodge to a timeshare lodge to mitigate for employee housing if an expansion is not taking place. Moreover, the existing growth management requirements treat the lodge and timeshare - 21 - lodge uses as being equal in regards to employee generation. However. it should be noted that staff is working with a consultant to look into how tinieshare lodge units compare with lodge units in relation to employee generation. Staff finds this criterion not to be applicable to this application. E. Parking Requirements. 1. The parking requirement for timeshare lodge development shall be calculated by applying the parking standard .for the underlying zone district for lodge uses. The parking requirement shall be calculated based on the maximum number of proposed lock out rooms in the development. 2. The timeshare lodge development shall also provide an appropriate level of guest transportation services, such as vans or other shuttle vehicles, to offer an alternative to having owners and guests using their own vehicles in Aspen. 3. The owner of a timeshare estate shall be prohibited from storing a vehicle in a parking space on-site when the owner is not using that estate. Staff Finding The existing lodge currently has three (3) on-site parking spaces for a total of fourteen (14) lodge rooms. This provides a parking ratio of .21 parking spaces per lodging bedroom, which was established as acceptable through the recent PUD approval. When the PUD for the remodel and expansion of the lodge was reviewed, it was reviewed under the premise that there would be occasions when the lodge would reach 100% occupancy. Staff does not believe that converting the lodge to a timeshare lodge will ever push the occupancy level at one time over the 100% occupancy level that was considered in the PUD review. Therefore, staff believes that the existing parking is sufficient to accommodate the proposed conversion. Additionally, staff has proposed a condition of approval that does not allow for a timeshare owner to store their vehicle on-site when they are not staying at the lodge. Staff finds this criterion to be met. F. Appropriateness of Marketing and Sales Practices. The marketing and sale of timeshare estates shall be governed by the real estate laws set forth in Title 12, Article 61, C.R.S., as may be amended from time to time. The applicant and licensed marketing entity shall present to the City a plan for marketing the timeshare development. 1. The following marketing ancl sales practices for a timeshare development shall not be permitted: a. The solicitation of prospective purchasers of timeshare units on any street, mall, or other public property or facility; and - 22 - b. Any unethical sales and marketing practices which would tend to mislead potential purchasers. Staff Finding The Applicant has represented in their application that they will not solicit purchasers on public property. Iii addition, the Applicant has consented to comply with the timeshare marketing regulations that are set forth in the Colorado Revised Statues. Therefore. staff finds this criterion to be met. 2. Giving of gifts to encourage potential purchasers to attend a sales presentation or to visit a timeshare development is permitted, provided the gift reflects the local Aspen economy. For example, gifts for travel to or accommodations in Aspen, restaurants in Aspen, and local attractions (ski passes, concert tickets, rafting trips, etc.) are permitted. Gifts that have no relationship to the local Aspen economy are not permitted. The following gifts are also not permitted: a. Any giftfor which an accurate description is not given; b. Any gift package for which notice is not given to the prospective purchaser that the purchaser will be required to attend a sales presentation as a condition of receiving the gifts; and c. Any gift package for which the printed announcement of the requirement to attend a sales presentation is in smaller typeface titan the information on the gift being offered. Staff Finding The Applicant has consented to meeting this criterion in their marketing plan that is included in the application, including giving only gifts that are locally serving and oriented. Staff finds this criterion to be met. G. Adequacy of Maintenance and Management Plan. The applicant shall provide documentation and guarantees that the timeshare lodge development will be appropriately managed and maintained in an manner that will be both stable and continuous. This shall include an identification of when and how maintenance will be provided, and shall also address the following requirements: 1. A fair procedure shall be established .for the estate owners to review and approve any fee increases which may be made throughout the life of the timeshare development, to provide assurance and protection to timeshare owners that management/assessment fees will be applied and used appropriately. - 23 - 2. The applicant shall also demonstrate that there will be a reserve .fund to ensure that the proposed timeshare development will be properly maintained throughout its lifetime. Staff Finding The annual budget for the units is to be reviewed and approved by a majority of the owners or the board of directors of the owner's association who are to be elected by a majority vote of the owners. A capital reserve fund will also be set up and will be shown in the budget to be submitted prior to the City Council hearing regarding this issue. The amount of this capital reserve fund is to be studied on a yearly basis to determine if it is adequate. Staff finds this criterion to be met. H. Compliance with State Statutes. The applicant shall demonstrate that the proposed timeshare lodge development will comply with all applicable requirements of Title 12, Article 61, C.R.S.; Title 38, Article 33, C.R.S.; and Title 38, Article 33.3, C.R.S.; including the requirements concerning the.tive (5) day period for rescission of a sales contract, and the procedures for holding deposits or down payments in escrow. Staff Finding The Applicant has consented to complying with all of the statutory requirements that govern timeshare development. The Applicant will be required to submit instruments for review by the City Attorney' s Office and recordation at the Pitkin County Clerk and Recorder's Office. Staff finds this criterion to be met. f. Approval By Condominium Owners. If the development that is proposed to be timeshared is a condominium, the applicant shall submit written proof that the condominium declaration allows timesharing, that one hundred (100) percent of the owners of the condominium units have approved the timeshare development, including any improvements to the common elements that the applicant may propose, that all mortgagees of the condominium have approved the proposed timeshare development, and that all condominium units iii the timeshare development will be included in the same sales and marketing program. Staff Finding The proposed development does not involve conversion of an existing condominium into a timeshare. Therefore, staff does not find this criterion applicable to this project. J. Prohibited Practices and Uses. Without in any way limiting any requirement contained in this Chapter, it is unlawful for any person to knowingly engage in any of theÂ·following practices: 1. The creation, operation or sale of a right-to-use interest or any other timeshare concept which is not specifically allowed and approved pursuant to the requirements Of this section. Right-to-use timeshare concepts (e.g. -24- lease-holds and vacation clubs) are considered inappropriate in Aspen and are not permitted. 2. Misrepresentation of the facts contained in any application for timeshare approval, timeshare development instruments, or disclosure statement. 3. Failure to comply with any representations contained in any application for timesharing or misrepresenting the substance of any such application to another who may be a prospective purchaser of a timeshare interest. 4. Manage, operate, use, offer for sale or sell a timeshare estate or interest therein in violation of any requirement of this Chapter or any approval granted pursuant hereto, or cause or aid and abet another to violate any requirement of this Chapter, or an approval granted pursuant to this Chapter. Staff Finding The Applicant has consented in the proposed application to meeting the requirements of the timeshare section of the City of Aspen Land Use Code in addition to the statutory requirements for operating timeshare development. Staff finds this criterion to be met. -25- William R. Gougir JD, CPA (CPA Inactive) Gougar k Robert J. Hooke JD, MA Michael P. Franzmann JD, LI.M, CPA FranZIURI14 LLC Lori C. Pappas JD, LLM* Jeffrey C. Keiffer JD, CPA (CPA Inactive) Attorneys & Counselors at Law ':-,Also Admitted in Ohio October 30,2003 James Lindt City ofAspen 130 S. Galena Street, 2nd Floor Aspen, CO 81611 RE: Little Red Ski Haus, LLC Pursuant to out telephone conversation of October 30,2003, please be advised that our client Little Red Ski Haus, LLC has no objection to your recommendation that 30 days notice be required for a fractional interest owner to reserve his usage of the unit. We agree to amend the application accordingly-. If you have any questions regarding this matter, it is always a pleasure to speak with you. I can be reached at (720) 266- 1040. Sincerely you~1 01*?An, . 4,0,-L Klichae] R f*+rrERCEPA, LL.i. Attorney af La~~ MPF TAXATION ~ ESTATE PLANNING e BUSINESS LAW Â° REAL ESTATE 400 Inverness Parkway, Suite 250 0 Englewood, CO 80112 0 Phone 720-266-1040 â€¢ Fax 720-266-1041 a www.GFiawfirrn.com 1 . ff-*// 'L / j (9-14 CU blt U IT U RESOLUTION NO. 26 (SERIES OF 2003) A RESOLUTION OF THE ASPEN PLANNING AND ZONING COMMISSION RECOMMENDING THAT CITY COUNCIL APPROVE THE LITTLE RED SKI HAUS PLANNED UNIT DEVELOPMENT AMENDMENT, SUBDIVISION, AND TIMESHARE APPLICATION ON THE PROPERTY DESCRIBED AS LOT O AND THE WEST HALF OF LOT P, BLOCK 69, CITY AND TOWNSITE OF ASPEN, PITKIN COUNTY, COLORADO Parcel No. 2735-124-71-005 WHEREAS, the Community Development Department received an application from Little Red Ski Haus LLC. owner. represented by Gouger & Franzmarm, LLC, requesting approval of a Planned Unit Development Amendment, Subdivision, and Timeshare to convert the existing Little Red Ski Lodge to a timeshare lodge on the property described as Lot O and the West one-half of Lot P, Block 69, City and Townsite of Aspen; and, WHEREAS, the subject property is located in the Residential Multi-Family (R/MF) Zone District with a Lodge Preservation (LP) and PUD Overlay; and, WIIEREAS, pursuant to Land Use Code Section 26.304.060(B), Combined Reviews, the Community Development Director in consultation with the applicant has concluded that a combined review of the land use requests associated with this application would reduce duplication and ensure economy of time. expense, and clarity; and, WIIEREAS, pursuant to Land Use Code Section 26.445, Planned Unit Development; Section 26.480, Subdivision; and, Section 26.590. Timeshare. the City Council may approve, approve with conditions, or deny the land use requests made by the Applicant during a duly noticed public hearing after taking and considering comments from the general public. and recommendations from the Planning and Zoning Commission. Community Development Director, and relevant referral agencies; and, WHEREAS, during a duly noticed public hearing on November 4. 2003. the Planning and Zoning Commission reviewed and considered the development proposal under the applicable provisions of the Municipal Code as identified herein and approved this resolution, by a seven to zero (7-0) vote; approving the proposed requests with the conditions of approval contained herein: and, WHEREAS, the Planning and Zoning Commission finds that the development proposal meets or exceeds all applicable development standards and that the approval of the development proposal. with conditions, is consistent with the goals and elements of the Aspen Area Community Plan; and, . WHEREAS, the Planning and Zoning Commission finds that this resolution furthers and is necessary for the promotion of public health, safety, and welfare. NOW, THEREFORE, BE IT RESOLVED BY THE CITY OF ASPEN PLANNING AND ZONING COMMISSION AS FOLLOWS: Section 1: Pursuant to the procedures and standards set forth in City of Aspen Land Use Code Section 26.445, Planned Unit Development: Section 26.480. Subdivision; and Section 26.590, Timeshare. the Planning and Zoning Commission hereby recommends that City Council approve a PUD Amendment, Subdivision, and Timeshare request to allow for the Little Red Ski Haus Lodge located at 118 E. Cooper Avenue to convert to a timeshare lodge, with the following conditions: 1. The approved fractional interest breakdown is as follows: Number of Units Description Number of Fractional Number of Weeks Ownership Interests Allocated to Each Available per Unit Fractional Ownership Interest 1 Luxury Suite 16 3 Weeks (Consisting of 2 of the existing lodge rooms) 3 Executive/Family 16 3 Weeks 3 Historic King 16 3 Weeks 3 Standard King 16 3 Weeks 2 Bunk Rooms 16 3 Weeks 2. The City of Aspen Finance Department shall conduct an annual audit of the sales tax revenues that the City collects from the Little Red Ski Haus Lodge over its first five (5) years of operation as a timeshare lodge, to determine if the projected revenues are accurate. The Applicant shall cooperate with the Finance Department in its annual audit efforts. 3. Final Condominium Declarations shall be submitted to the City concurrent with the submission of the Condominium Subdivision Plat and shall include the following language regarding timeshare: a. Timeshare estates, including the four (4) weeks per unit that are to be retained by the Applicant, shall be made available for short-term rental when the estate is not in use by the owner of the unit, the owner's guests. or persons occupying the unit under an exchange program. Units that are available for rental shall be listed at competitive rates in a central reservation system. . b. The covenants of the homeowners association shall permit walk-in rental of units. The association shall not limit rental of units to such arrangements as only weekly rentals or Saturday-to-Saturday rentals; instead the association shall permit shorter stays, split-week rentals and similar flexible arrangements. c. Owners of timeshare estates shall be required to reserve their unit/time sufficiently far. enough iii advance to enable the public to obtain access to those units that are not so reserved. The term "sufficiently" shall be specifically defined as full month (30 days) prior to the first day of the intended stay. d. The owner of a timeshare estate shall not be permitted to occupy that estate for any period in excess ofthirty (30) consecutive calendar days. e. The owner of a timeshare estate shall be prohibited from storing a vehicle in a parking space on-site when that owner is not using the estate. 4. The Applicant shall submit all tilneshare documents and disclosure statements to the City Attorney for review prior to their recordation at the Pitkin County Clerk and Recorder's Office. 5. Each owner of an estate shall have an undivided interest in the common recreational areas within the facility. 6. The timeshare lodge units that remain in the developer's inventory shall be made available for rental to the public while the estates are being sold, except for models and other units that are needed for marketing or promotional purposes. Section 2: All material representations and commitments made by the applicant pursuant to the development proposal approvals as herein awarded, whether in public hearing or documentation presented before the Planning and Zoning Commission or City Council, are hereby incorporated in such plan development approvals and the same shall be complied with as i f fully set forth herein, unless amended by an authorized entity. Section 3: This resolution 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. Section 4: If any section, subsection, sentence, clause, phrase, or portion of this resolution 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 ofthe remaining portions thereof. APPROVED BY the Planning and Zoning Commission of the City of Aspen on this 4th day of November, 2003. APPROVED AS TO FORM: PLANNING AND ZONING COMMISSION: City Attorney .Jasmine Tygre, Chair ATTEST: Jackie Lothian, Deputy City Clerk RESOLUTION N0. 26 (SERIES OF 2003) A RESOLUTION OF THE ASPEN PLANNING AND ZONING COMMISSION RECOMMENDING THAT CITY COUNCIL APPROVE THE LITTLE RED SKI HAUS PLANNED UNIT DEVELOPMENT AMENDMENT, SUBDIVISION, AND TIMESHARE APPLICATION ON THE PROPERTY DESCRIBED AS LOT O AND THE WEST HALF OF LOT P, BLOCK 69, CITY AND TOWNSITE OF ASPEN, PITKIN COUNTY, COLORADO Parcel No. 2735-124-71-005 WHEREAS, the Community Development Department received an application from Little Red Ski Haus LLC, owner, represented by Gouger & Franzmann, LLC, requesting approval of a Planned Unit Development Amendment, Subdivision, and Timeshare to convert the existing Little Red Ski Lodge to a timeshare lodge on the property described as Lot O and the West one-half of Lot P, Block 69, City and Townsite of Aspen; and, WHEREAS, the subject property is located in the Residential Multi-Family CUMF) Zone District with a Lodge Preservation (LP) and PUD Overlay; and, WHEREAS, pursuant to Land Use Code Section 26.304.060(B), Combined Reviews, the Community Development Director in consultation with the applicant has concluded that a combined review of the land use requests associated with this application would reduce duplication and ensure economy of time, expense, and clarity; and, WHEREAS, pursuant to Land Use Code Section 26.445, Planned Unit Development; Section 26.480, Subdivision; and, Section 26.590, Timeshare, the City Council may approve, approve with conditions, or deny the land use requests made by the Applicant during a duly noticed public hearing after taking and considering comments from the general public, and recommendations from the Planning and Zoning Commission, Community Development Director, and relevant referral agencies; and, WHEREAS, during a duly noticed public hearing on November 4, 2003, the Planning and Zoning Commission reviewed and considered the development proposal under the applicable provisions of the Municipal Code as identified herein and approved this resolution, by a seven to zero (7-0) vote; approving the proposed requests with the conditions of approval contained herein; and, WHEREAS, the Planning and Zoning Commission finds that the development proposal meets or exceeds all applicable development standards and that the approval of the development proposal, with conditions, is consistent with the goals and elements of the Aspen Area Community Plan; and, WHEREAS, the Planning and Zoning Commission finds that this resolution ~ furthers and is necessary for the promotion ofpublic health, safety, and welfare. I NOW, THEREFORE, BE IT RESOLVED BY THE CITY OF ASPEN PLANNING 1 AND ZONING COMMISSION AS FOLLOWS: Section 1: Pursuant to the procedures and standards set forth in City of Aspen Land Use Code Section 26.445, Planned Unit Development; Section 26.480, Subdivision; and Section 26.590, Timeshai'e, the Planning and Zoning Commission hereby recommends that City Council approve a PUD Amendment, Subdivision, and Timeshare request to allow for the Little Red Ski Haus Lodge located at 118 E. Cooper Avenue to convert to a timeshare lodge, with the following conditions: 1. The approved fractional interest breakdown is as follows: : Number of Units Description Number of Fractional Number of Weeks Ownership Interests Allocated to Each ) Available per Unit Fractional Ownership Interest ! 1 Luxury Suite 16 3 Weeks ~ 1 (Consisting of 2 of the existing lodge rooms) 3 Executive/Family 16 3 Weeks 3 Historic King 16 3 Weeks 3 Standard King 16 3 Weeks 2 Bunk Rooms 16 3 Weeks 2. The City of Aspen Finance Department shall conduct an annual audit of the sales tax revenues that the City collects from the Little Red Ski Haus Lodge over its first five (5) years of operation as a timeshare lodge, to determine if the projected revenues are accurate. The Applicant shall cooperate with the Finance Department in its annual audit efforts. 3. Final Condominium Declarations shall be submitted to the City concurrent with the submission of the Condominium Subdivision Plat and shall include the following language regarding timeshare: a. Timeshare estates, including the four (4) weeks per unit that are to be retained by the Applicant, shall be made available for short-term rental when the estate is not in use by the owner of the unit, the owner's guests, or persons occupying the unit under an exchange program. Units that are available for rental shall be listed at competitive rates in a central reservation system. b. The covenants of the homeowners association shall permit walk-in rental of units. The association shall not limit rental of units to such arrangements as only weekly rentals or Saturday-to-Saturday rentals; instead the association shall permit shorter stays, split-week rentals, and similar flexible arrangements. c. Owners of timeshare estates shall be required to reserve their unit/time sufficiently far enough in advance to enable the public to obtain access to those units that are not so reserved. The term "sufficiently" shall be - specifically defined as full month (30 days) prior to the first day of the intended stay. d. The owner of a timeshare estate shall not be permitted to occupy that estate for any period in excess of thirty (30) consecutive calendar days. e. The owner of a timeshare estate shall be prohibited from storing a vehicle in a parking space on-site when that owner is not using the estate. 4. The Applicant shall submit all timeshare documents and disclosure statements to the City Attorney for review prior to their recordation at the Pitkin County Clerk and Recorder' s Office. 5. Each owner o f an estate shall have an undivided interest in the common recreational areas within the facility. 6. The timeshare lodge units that remain in the developer's inventory shall be made available for rental to the public while the estates are being sold, except for models and other units that are needed for marketing or promotional purposes. Section 2: All material representations and commitments made by the applicant pursuant to the development proposal approvals as herein awarded, whether in public hearing or documentation presented before the Planning and Zoning Commission or City Council, are hereby incorporated in such plan development approvals and the same shall be complied with as if fully set forth herein, unless amended by an authorized entity. Section 3: This resolution 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. Section 4: If any section, subsection, sentence, clause, phrase, or portion of this resolution is for any reason held invalid or unconstitutional in a court of competent junsdiction, such portion shall be deemed a separate, distinct and independent provision and shall not affect the validity o f the remining portions thereo f. APPROVED BY the Planning and Zoning Commission of the City of Aspen on this 4th day of November, 2003. APPROVED AS TO FORM: PLANNING AND ZONING COMMISSION: 5_1 24- ulÂ«rntr j /1,01- 9(062- City Attorney Jasmine Tygre, Chair / O ATTEST: j ekl L 1~0-that, *ckie Lothian, Deputy City Clerk I[7 MEMORANDUM 1 4_ TO: Aspen Planning & Zoning Commission Mor THRU: Joyce Allgaier, Community Development Deputy DirectohPA FROM: James Lindt, Planner.41-L-- 09 "Abills)04â‚¬1 RE: Little Red Ski Haus Planned Unit Development Amendment, (70~61 l/11 25(t> Subdivision, and Timeshare- Public Hearing DATE: November 4.2003 - 1-2 / Ofe Ougid PROJECT: LITTLE RED SKI HAUS TIA<[ESHARE de_ REQUEST: The Applicant is requesting the appropriate land use approvals to - Men Â¢ convert the existing Little Red Ski Haus Lodge into a timeshare lodge. b<,3 A A 941-045F PROPOSED ZONING: R/MF with a Lodge Preservation (LID and PUD Overlay LAND USE PUD Amendment, Subdivision, and Timeshare. r- 0,4-12Â¥=A REQUESTS: STAFF Staff recommends that the Planning and Zoning Commission approve RECOMMENDATION: the proposed resolution, recommending that City Council approve with conditions, the proposed requests. SUMMARY OF REQUEST: JUL_ i The Applicant, Little Red Ski Haus, LLC, represented by Gouger & Franzmann. LLC, is - s#/'rle<~1 requesting the appropriate land use approvals to convert the existing Little Red Ski Haus ~) /26 ell Lodge into a timeshare lodge. 01 01 EN< F LAND USE ACTIONS REQUESTED: 54 de_ The Applicant is requesting the following land use actions for the proposed conversion to- a timeshare lodge: - \OU-? itc â‚¬ 6 0/ Al ---1446 -4 .cuix*l 4 PUD Amendment 4;,th/aur U â€¢ Subdivision \ 01'ev .o<5 â€¢ Timeshare l Leto pwok fid 'A ~(1~ lt- Al QCM- City Council shall approve, approve with conditions, or deny the proposed requests after g~,; c_ considering a recommendation from the Community Development Director and the-~ L 1 I~â€¢F Uk\.Wt Planning and Zoning Commission. , - C 1 1401/1.Q) 06\4 VACKGROUND: / 1 rl - WK V , ,yhe Little Red Ski Haus Lodge located at 118 E. Cooper Avenue was renovated and Par P 3( . \29~ rExpan(led in 2001. In conjunction with the expansion of the structure. a PUD was ~ e~56 '0\ 4\09 .ROvulipproved to establish the site-specific development plan that currently exists. The reoux OU~-YJ~ Property was also rezoned to include a Lodge Prpgrvation and PUD Overlay as part of tk r ' 1 ;(410* '440* J..5 tor- k A Ar 4,( Pabo 1bi; 81* -1 - 14,43%Â¢\1 200 ra >49.k 70 lfÂ» on 6 5-0 ..991 5-D /SO \3-l J\06- b/4 9-9, C % D \1-10\4 - 9 Foofbv10-j ApiÂ» M r 71Â»1 ),17 0 00) -3- 1 / 91.-40.-- ( 4 1 10 the development project. The renovated lodge now contains a total of thirteen (13) traditional lodge rooms. a managers unit and an accessory dining facility. PROPOSED DEVELOPMENT: The Applicant is proposing to convert the existing lodge into a timeshare lodge pursuant to Land Use Code Section 26.590. Timeshare Development. Specifically. the Applicant is proposing to sell sixteen ( 16) fractional interests in twelve (12) of the units (the Luxury Suite is to be made up of two (2) existing lodge units). Therefore, the Applicant is proposing to create a total of 192 fractional interests. Of the total fractional interests that would be created, the Applicant is proposing to retain four (4) weeks in each unit for the purpose of renting them out on a short-term basis. The proposed fractional interest breakdown is illustrated in the chart below (please see floor plans attached as Exhibit "C" for location of room types): Number of Units Description Number of Fractional Number of Weeks Ownership Interests Allocated to Each Available per Unit Fractional Ownership Interest 1 Luxury Suite 16 3 Weeks (Combination of 2 Lodge Rooms) 3 Executive/Family 16 3 Weeks 3 Historic King 16 3 Weeks 3 Standard King 16 3 Weeks 2 Bunk Rooms 16 3 Weeks Additionally. the Applicant is not proposing any alterations to the structure itself in association with the proposed conversion to a timeshare lodge because the structure was brought up to current building code standards as part of the recent renovation. Therefore, the units are not proposed to have kitchens in them as they currently exist. STAFF COMMENTS: Staff has analyzed the application's compliance with the required timeshare elements below. City Council will review the tax implications of the proposed timeshare development and consider comments from the City Finance Director regarding the Financial Impact Analysis that was provided by the Applicant. The timeshare regulations that were approved and enacted late last year established that City Council. at its sole discretion, would determine whether the fiscal impacts of a timeshare project would necessitate mitigation for a loss in sales tax revenues to the City. Therefore. the timeshare aspect of the review by the Planning and Zoning Commission shall be focused around the project's compliance with the mandatory physical and operational elements that are required in all timeshare projects rather than the fiscal impacts of the proposal. -2- STAFF ANALYSIS OF TIMESHARE AspECTS OF PROPOSAL: Physical Elements Staff believes that the Applicant has provided all o f the mandatory physical elements for a timeshare development that are required by Land Use Code Section 26.590.060(A). The proposal includes a staffed, on-site front desk that will be open during regular business hours and provide full-time registration and reservation services. And, according to the application, the desk will also make arrangements for late check-ins and will accommodate walk-in rentals if a unit is available. Furthermore, staff believes that the existing lodge contains an adequate amount of recreational facilities and other amenities to serve its occupants given its relatively small size. The lodge contains a Jacuzzi, an accessory dining room to serve guests, on-site laundry, and temporary ski storage facilities. Operational Characteristics The Applicant proposes to make a unit available to the general public as short-term accommodations when the owners of the unit are not using their time. It has been proposed by the Applicant that a fractional interest owner be required to alert the management company a month ahead of time if they plan on using a unit. Moreover, the application proposes to list the rooms for short-term rental with a central reservation system. Therefore, staff believes that the proposed operation plan will still allow for the property to accommodate short-term walk-in business as is required in the mandatory timeshare regulations. Staff also feels that the proposal meets some of the optional operational characteristics that are set forth in the Land Use Code in addition to the mandatory operational characteristics as is outlined below. The Applicant has proposed to subdivide the units into more than ten (10) fractional ownership interests per unit as is consistent with the optional characteristics that are encouraged in the timeshare regulations. Additionally, the Applicant has proposed to retain four (4) weeks per year in each unit for the purpose of renting them on a short-term basis as is also encouraged by the timeshare regulations. Staff believes that the Applicant's compliance with the abovementioned optional characteristics is important in that it will allow for the proposed timeshare lodge units to operate more in the character of a traditional lodge than in the character of residence, yet still attain the higher occupancy rates that are expected in conjunction with fractionalizing the ownership. GMQS IMPLICATIONS: The Applicant is only proposing to convert the existing lodge into a timeshare lodge, which under the current land use code regulations does not have any growth management implications. Staff is currently looking at the employee generation differences between lodges and fractional ownership lodges to enact possible code amendments. Ilowever, under the current land use code, the Growth Management Quota System treats both the lodge use and the timeshare lodge use the same. Therefore, the Applicant is not required to mitigate for employee housing in conjunction with the conversion. Uj SUBDIVISION: In this case, the sole purpose of subdivision request is to allow for the site to be condominiumized and placed in a fractional form of ownership. Staff believes that the proposal meets the review standards for subdivision. Staff feels that the proposed fractional lodge use is appropriate for the site and is compatible with the surrounding lodge and multi-family residential uses. ISSUES: OffLStreet Parking The existing lodge currently has three (3) on-site parking spaces for the thirteen (13) lodge units and one manager's units, which yields an off-street parking ratio of .21 parkiiig spaces per bedroom. This parking ratio was established and was determined to be acceptable through the recent PUD review for the expansion of the lodge. When the Pt) D for the remodel and expansion of the lodge was reviewed, it was reviewed under the premise that there would be occasions when the lodge would be at 100% occupancy. Staff does not believe that converting the lodge to a timeshare lodge will ever push the occupancy level at one time over the 100% occupancy level that was considered in the PUD review. Therefore, staff believes that the existing parking is sufficient to accommodate the proposed conversion. Additionally, the timeshare regulations do not allow for the storage of vehicles on the site when ali owner is not staying at the lodge. Staff has proposed to reinforce this regulation by including the prohibition of vehicle storage as a condition of approval in the proposed resolution. ~TAFF RECOMMENDATION: It has been generally accepted that timeshare projects such as this proposal provide increased occupancy rates in relation to regular lodge units. Therefore, staff has no indication that the proposal would not benefit the community by increasing the number of people in town during the off-season to economically support the town's businesses. Additionally, staff believes that the proposal meets the timeshare lodge review standards. Therefore, staff recommends that the Planning and Zoning Commission approve the proposed resolution recommending that City Council approve the timeshare request, with conditions. RECOMMENDED MOTION: 1 move to approve Resolution No.,2~ Series of 2003. recommending that City Council approve a PUD amendment. subdivision, and timeshare lodge development request to allow for the Little Red Ski klaus Lodge to convert to a timeshare lodge with the conditions set forth therein. ATTACHMENTS EXHIBIT A - REVIEW CRITERIA AND STAFF FINDINGS EXHIBIT B - APPLICA riON EXHIBIT C - EXISTING FLOOR PLANS -4- RESOLUTION 30.26 (SERIES OF 20017 A RESOLUTION OF THE ASPEN PLANNING AND ZONING COMMISSION RECOMMENDING THAT CITY COUNCIL APPROVE THE LITTLE RED SKI HAUS PLANNED UNIT DEVELOPMENT AMENDMENT, SUBDIVISION, AND TIMESHARE APPLICATION ON THE PROPERTY DESCRIBED AS LOT O AND THE WEST HALF OF LOT P, BLOCK 69, CITY AND TOWNSITE OF ASPEN, PITKIN COUNTY, COLORADO Parcel No. 2735-124-71-005 WHEREAS, the Community Development Department received an application from Little Red Ski Haus LLC, owner, represented by Gouger & Franzmann, LLC, requesting approval of a Planned Unit Development Amendment, Subdivision, and Timeshare to convert the existing Little Red Ski Lodge to a timeshare lodge on the property described as Lot O and the West one-half of Lot P, Block 69, City and Townsite of Aspen; and, WHEREAS, the subject property is located in the Residential Multi-Family (R/MF) Zone District with a Lodge Preservation (LP) and PUD Overlay: and. WHEREAS, pursuant to Land Use Code Section 26.304.060(B), Combined Reviews, the Community Development Director in consultation with the applicant has concluded that a combined review of the land use requests associated with this application would reduce duplication and ensure economy of time, expense, and clarity; and. WHEREAS, pursuant to Land Use Code Section 26.445, Planned Unit Development; Section 26.480, Subdivision; and, Section 26.590, Timeshare, the City Council may approve, approve with conditions, or deny the land use requests made by the Applicant during a duly noticed public hearing after taking and considering comments from the general public, and recommendations from the Planning and Zoning Commission, Community Development Director, and relevant referral agencies; and, WHEREAS, during a duly noticed public hearing on November 4, 2003, the Planning and Zoning Commission reviewed and considered the development proposal under the applicable provisions of the Municipal Code as identified herein and approved this resolution, by a to (__-_) votes approving the proposed requests with the conditions of approval contained herein; and, WHEREAS, the Planning and Zoning Commission finds that the development proposal meets or exceeds all applicable development standards and that the approval of the development proposal, with conditions, is consistent with the goals and elements of the Aspen Area Community Plan; and, WHEREAS, the Planning and Zoning Commission finds that this resolution furthers and is necessary for the promotion of public health, safety, and welfare. NOW, THEREFORE, BE IT RESOLVED BY THE CITY OF ASPEN PLANNING AND ZONING COMMISSION AS FOLLOWS: Section 1: Pursuant to the procedures and standards set forth in City of Aspen Land Use Code Section 26.445, 1 lanned Unit Development Section 26.480, Subdivision: and Section 26.590, Timeshare, the Planning and Zoning Commission hereby recommends that City Council approve a PUD Amendment, Subdivision, and Timeshare request to allow for the Little Red Ski Haus Lodge located at 118 E. Cooper Avenue to convert to a timeshare lodge, with the following conditions: 1. The approved fractional interest breakdown is as follows: Number of Units Description Number of Fractional Number of Weeks Ownership Interests Allocated to Each Available per Unit Fractional Ownership Interest 1 Luxury Suite 16 3 Weeks (Consisting of 2 of the existing lodge rooms) 3 Executive/Family 16 3 Weeks 3 Historic King 16 3 Weeks 3 Standard King 16 3 Weeks 2 Bunk Rooms 16 3 Weeks 2. The City of Aspen Finance Department shall conduct an annual audit of the sales tax revenues that the City collects from the Little Red Ski Haus Lodge over its first five (5) years of operation as a timeshare lodge, to determine if the projected revenues are accurate. The Applicant shall cooperate with the Finance Department in its annual audit efforts. 3. Final Condominium Declarations shall be submitted to the City concurrent with the submission of the Condominium Subdivision Plat and shall include the following language regarding timeshare: a. Timeshare estates, including the four (4) weeks per unit that are to be retained by the Applicant, shall be made available for short-term rental when the estate is not in use by the owner of the unit, the owner's guests, or persons occupying the unit under an exchange program. Units that are available for rental shall be listed at competitive rates in a central reservation system. b. The covenants of the homeowners association shall permit walk-iii rental of units. The association shall not limit rental of units to such arrangements as only weekly rentals or Saturday-to-Saturday rentals; instead the association shall permit shorter stays, split-week rentals, and similar flexible arrangements. c. Owners of timeshare estates shall be required to reserve their unit/time sufficiently far enough in advance to enable the public to obtain access to those units that are not so reserved. The term "sufficiently" shall be specifically defined as full month (30 days) prior to the first day of the intended stay. d. The owner of a timeshare estate shall not be permitted to occupy that estate for any period in excess ofthirty (30) consecutive calendar days. e. The owner of a timeshare estate shall be prohibited from storing a vehicle in a parking space on-site when that owner is not using the estate. 4. The Applicant shall submit all timeshare documents and disclosure statements to the City Attorney for review prior to their recordation at the Pitkin County Clerk and Recorder's Office. 5. Each owner of an estate shall have an undivided interest in the common recreational areas within the facility. 6. The timeshare lodge units that remain in the developer's inventory shall be made available for rental to the public while the estates are being sold, except for models and other units that are needed for marketing or promotional purposes. Section 2: All material representations and commitments made by the applicant pursuant to the development proposal approvals as herein awarded, whether in public hearing or documentation presented before the Planning and Zoning Commission or City Council, are hereby incorporated in such plan development approvals and the same shall be complied with as if fully set forth herein, unless amended by an authorized entity. Section 3: This resolution 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. Section 4: If any section, subsection, sentence, clause, phrase, or portion of this resolution 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 ofthe remaining portions thereof. APPROVED BY the Planning and Zoning Commission of the City of Aspen on this 4th day of November, 2003. APPROVED AS TO FORM: PLANNING AND ZONING COMMISSION: City Attorney Jasmine Tygre, Chair ATTEST: .Jackie Lothian, Deputy City Clerk EXHIBITA PLANNED UNIT DEVELOPMENT (PUD) Review Criteria & Staff Findings In accordance with Section 26.445.030(B)(3) of the Land Use Code, due to the limited extent of the issues involved, a development application requesting approval as a Planned Unit Development on a parcel of land located in the Lodge Preservation (LP) Overlay Zone District shall be processed pursuant to the terms and procedures of Minor Planned Unit Development review (Minor PUD). This two-step process does not require approval of a conceptual development plan, but only review and approval of a final development plan by the Planning and Zoning Commission and the City Council, with public hearings occurring at both. Section 26.445.050, Review Standards: Minor PUD Section 26.445.050 of the Regulations provides that development applications for Minor PUD must comply with the following standards and requirements. A. General Requirements. 1. The proposed development shall be consistent with the Aspen Area Community Plan. Staff Finding Staff believes that the proposed request is consistent with the Aspen Area Community Plan. Staff does not feel that subdividing the proposed development for the purpose of allowing for the units to be owned under a fractional form of ownership is contrary to the goals of the AACP. The City has embraced the idea that timeshare development will help iii maintaining a healthier year-round economy as a result of the higher occupancies that are predicted with timeshare development as is consistent with the goals of the Economic Sustainability portion of the AACP. Staff finds this criterion to be met. 2. The proposed development shall be consistent with the character O.f existing land uses in the surrounding area. Staff Finding Staff believes that the proposed timeshare lodge use is consistent with the character of the existing land uses in the surrounding area. The majority of the properties in the immediate vicinity are small lodging establishments or multi-family buildings consisting of three or more units. Staff believes that a lodge or a timeshare development is the appropriate land use for the subject parcel. Staff finds this criterion to be met. 3. The proposed development shaH not adversely affect thefuture development of the surrounding area. -5- Staff Finding Staff does not believe that the conversion of the Little Red Ski Haus to a timeshare lodge will adversely affect the future development of the surrounding area. Thus, staff finds this criterion to be met. 4. The proposed development has either been granted GMQS allotments, is exempt from GMUS, or GMQS allotments are available to accommodate the proposed development and will be considered prior to, or in combination with, final PUD development plan review. Staff Finding LInder the current land use code requirements, the Growth Management Quota System treats lodge units and timeshare lodge units the same. And therefore, because the Applicant is not requesting to alter the number of bedrooms and is only requesting to convert the existing lodge units into timeshare lodge units, additional GMQS allotments are not required for the conversion. Staff finds this criterion to be met. B. Establishment of Dimensional Requirements: The final PUD development plans shall establish the dimensional requirements.for all properties within the PUD. The dimensional requirements of the underlying zone district shall be used as a guide in determining the appropriate dimensions.for the PUD. During review of the proposed dimensional requirements, compatibility with surrounding land uses and existing development patterns shall be emphasized. 1. The proposed dimensional requirements .for the subject property are appropriate and compatible with the following influences on the property: a) The character of, and compatibility with, existing and expected future land uses in the surrounding area. b) Natural and man-made hazards. c) Existing natural characteristics of the property und surrounding area such as steep slopes, waterways, shade, and significant vegetation and landforms. d) Existing and proposed man-made characteristics of the property and the surrounding area such as noise, traffic, transit, pedestrian circulation, parking, and historical resources. Staff Finding The Applicant is not requesting to vary the allowable dimensional requirements from what was approved iii City Council Ordinance No. 11. Series of 2002. Therefore, staff does not believe that this criterion is applicable to this application. 2. The proposed dimemdonal requirements permit a scale, massing, and quantity 4 open space and site coverage appropriate and favorable to the character of the proposed PUD and of the surrounding area. -6- Staff Finding The Applicant is not requesting to vary the allowable dimensional requirements from what was approved in City Council Ordinance No. 11, Series of 2002. Therefore. staff finds this criterion not to be applicable to this application. 3. The appropriate number of off-street parking spaces shall be established based on the jollowing considerations: a) The probable number of cars used by those using the proposed development including any non-residential land uses. b) The varying time periods of use, whenever joint use of common parking is proposed c) The availability of public transit and other transportationfacilities, including those for pedestrian access and/or the commitment to utilize automobile disincentive techniques in the proposed development. c[) The proximity of the proposed development to the commercial core and general activity centers in the city. Staff Finding Tlie existing lodge currently has three (3) on-site parking spaces for the thirteen (13) lodge units and one manager's units, which yields an off-street parking ratio of .21 parking spaces per lodging bedroom. This parking ratio was established and was determined to be acceptable through the recent PUD review for the expansion of the lodge. This parking ratio was established and was determined to be acceptable through the recent PUD review for the expansion of the lodge. This provides a parking ratio of .21 parking spaces per lodging bedroom, which was established as acceptable through the recent PUD approval. When the PUD for the remodel and expansion of the lodge was reviewed, it was reviewed under the premise that there would be occasions when the lodge would 100% occupancy. Staff does not believe that converting the lodge to a timeshare lodge will ever push the occupancy level at one time over the 100% occupancy level that was considered in the PUD review. Therefore, staff believes that the existing parking is sufficient to accommodate the proposed conversion. Additionally, the timeshare regulations do not allow for the storage of vehicles on the site when an owner is not staying at the lodge. Staff has proposed to reinforce this regulation by including the prohibition of vehicle storage as a condition of approval in the proposed resolution. 4. The maximum allowable density within a PUD may be reduced if there exists insufficient infrastructure capabilities. Speci.fically, the maximum density o.f a PUD may be reduced if: a) There is not sufficient water pressure, drainage capabilities, or other utilities to service the proposed development. b) There are not adequate roads to ensure jire protection, snow removal, and road maintenance to the proposed development. Staff Finding The Applicant is not requesting that the maximum allowable density be reduced. Therefore, staff finds this criterion not to be applicable to this application. -7- 5. The maximum allowable density within a PUD may be reduced if there exists natural hazards or critical natural site features. Specifically, the maximum density of a PUD may be reduced if: a) The landis not suitable.for the proposed development because of ground instability or the possibility Of mu(Wow, rockfalls or avalanche dangers. b) The effects of the proposed development are detrimental to the natural watershed, due to runoff, drainage, soil erosion, and consequent water pollution. c) The proposed development will have a pernicious effect on air quality in the surrounding area and the City. d) The design and location of any proposed structure, road, driveway, or trail in the proposed development is not compatible with the terrain or causes harmful disturbance to critical natural features of the site. Staff Finding Tile Applicant is not requesting a reduction in the maximum allowable density established in the Little Red Ski Haus PUD. Staff finds this criterion not to be applicable to this application. 6. The maximum allowable density within a PUD may be increased if there exists a significant community goal to be achieved through such increase und the development pattern is compatible with its surrounding development patterns and with the site's physical constraints. Specifically, the maximum density of a PUD may be increased if: a) The increase in density serves one or more goals of the community as expressed in the Aspen Area Community Plan (AACP) or a specific area plan to which the property is subject. b) The site's physical capabilities can accommodate additional density and there exists no negative physical characteristics of the site, as identified in subparagraphs 4 and 5, above, those areas can be avoided, or those characteristics mitigated. c) The increase in maximum density results in a development pattern compatible with, and complimentary to, the surrounding existing and expected development pattern, land uses, and characteristics. Staff Finding The Applicant is not requesting to increase the allowable density through the proposed Pt.JD amendment. Staff finds that this criterion not to be applicable to this application. B. Site Design: The purpose of this standard is to ensure the PUD enhances public spaces, is complimentary to the site's natural and man-made features and the adjacent public spaces, and ensures the public's health and safety. The proposed development shall comply with the following: 1. Existing natural or man-made features of the site which are unique, provide visual interest or a speci-fic reference to the past, or contribute to -8- the identity Of the town are preserved or enhanced in an appropriate manner. Staff Finding The Applicant is not proposing any physical alterations to the Little Red Ski Haus structure or site. Staff finds this criterion not to be applicable to this application. 2. Structures have been clustered to appropriately preserve significant open spaces and vistas. Staff Finding l'he Applicant is not proposing any physical alterations to the Little Red Ski LIaus structure or site. Staff finds this criterion not to be applicable to this application. 3. Structures are appropriately oriented to public streets, contribute to the urban or rural context where appropriate, und provide visual interest und engagement Of vehicular and pedestrian movement. Staff Finding The Applicant is not proposing any physical alterations to the Little Red Ski Haus structure or site. Staff finds this criterion not to be applicable to this application. 4. Buildings and access ways are appropriately arranged to allow emergency and service vehicle access. Staff Finding The Applicant is not proposing any physical alterations to the Little Red Ski Haus structure or site. Staff finds this criterion not to be applicable to this application. 5. Adequate pedestrian and handicapped access is provided. Stall Finding Adequate pedestrian and handicapped access was provided through improvements made to the structure as part of the recent remodel and expansion. Staff finds this criterion to be met. 6. Site drainage is accommodated for the proposed development in a practical and reasonable manner and shall not negatively impact surrounding properties. Staff Finding Site drainage was reviewed during the review of the initial PUD application and this request would not physically alter the structure. Therefore, staff finds this criterion not to be applicable to this application. -9- 7. For non-residential land uses, spaces between buildings are appropriately de-signed to accommodate any programmatic .functions associated with the use. Staff Finding The Applicant is not proposing to alter the existing structure. Therefore, there will not be a change iii the programmatic functions associated with the site. Thus, staff finds that this criterion is not applicable to the proposal. C. Landscape Plan: The purpose of this standard is to ensure compatibility of the proposed landscape with the visual character of the city, with surrounding parcels, and with existing and proposed .features of the subject property. The proposed development shall comply with the following: 1. The landscape plan exhibits a well designed treatment of exterior spaces, preserving existing significant vegetation, and provides an ample quantity and variety ofornamental plant species suitable for the Aspen area climate. Staff Finding The Applicant is not proposing to alter the existing landscaping that was approved through the original PUD. Staff finds this criterion not to be applicable to this application. 2. Signiticant existing natural and man-made site features, which provide uniqueness and interest in the landscape, are preserved or enhanced in an appropriate manner. Staff Finding The Applicant is not proposing to alter the existing site or structure as part of this amendment. Staff finds this criterion not to be applicable to this application. 3. The proposed method Of protecting existing vegetation and other landscape features is appropriate. Staff Finding The Applicant is not proposing to alter the existing site or structure as part of this amendment. Staff finds this criterion not to be applicable to this application. D. Architectural Character: It is the purpose of this standard to encourage architectural interest, variety, character, and visual identity in the proposed development and within the City while promoting efficient use o.f resources. Architectural character is based upon the suitability of a building for its purposes, legibility Of the building's tixe, the building's proposed massing, proportion, scale, orientation to public spaces and other buildings, use of materials, and other attributes which may significantly represent the character of the proposed development. There shall be approved as part of the final development plan and architectural character plan, which adequately depicts the character of the proposed development. The proposed architecture of the development shall: - 10 - 1. be compatible with or enhance the visual character of the city, appropriately relate to existing and proposed architecture of the property, represent a character suitable for, and indicative of, the intended use, and respect the scale and massing of nearby historical and cultural resources. Staff Finding The Applicant is not proposing to alter the existing structure in which the architecture was approved of in the original Little Red Ski LIaus PUD. Staff finds this criterion not to be applicable to this application. 2. Incorporate, to the extent practical, natural heating and cooling by taking advantage of the property'% solar access, shade, and vegetation and by use of non- or less-intensive mechanical systems. Stafffinding The Applicant is not proposing to alter the existing structure. Staff finds this criterion not to be applicable to this application. 3. Accommodate the storage and shielding of snow, ice, and water in a safe an appropriate manner that does not require significant maintenance. Staff Finding The Applicant is not proposing to alter the existing structure. Therefore, staff finds this criterion not to be applicable to this application. E. Lighting: The purpose ofthis standard is to ensure the exterior of the development will be lighted in an appropriate manner considering both public safety and general aesthetic concerns. The following standards shall be accomplished: 1. All lighting is proposed so as to prevent direct glare or hazardous interference Of any king to adjoining streets or lands. Lighting of site features, structures, and access ways is proposed in an appropriate manner. Staff Finding The Applicant is required to. and has consented to meet the City of Aspen Lighting Code for any exterior lighting that is proposed. Staff believes that the Applicant's required compliance with the City Lighting Code ensures that the development will be lighted in an appropriate manner. Staff finds this criterion to be met. 2. AH exterior lighting shall be in compliance with the Outdoor Lighting Standards unless otherwise approved and noted in the final PUD documents. Up-lighting of site features, buildings, landscape elements, and lighting to call inordinate attention to the property ix prohibited for residential development. - 11 - Staff Finding The Applicant is required to meet the City of Aspen Lighting Code on the existing development. Staff finds this criterion to be met. G. Common Park, Open Space, or Recreation Area: If the proposed development includes a common park, open space, or recreation areafor the mutual benefit of ati development in the proposed PUD, the.following criteria shall be met: 1. The proposed amount, location, and design of the common park, open space, or recreation area enhances the character of the proposed development, considering existing and proposed structures und natural landscape features of the property, provides visual relief to the property's built form, and is available to the mutual benefit of the various land uses and property users ofthe PUD. Staff Finding The Applicant is not proposing any common park or open space on the site. Staff finds that this criterion is not applicable to this proposal. 2. A proportionate, undivided interest in all common park and recreation areas is deeded in perpetuity (not for a number of years) to each lot or dwelling unit owner within the PUD or ownership is proposed in a similar manner. Staff -Finding The Applicant is not proposing any common park or open space on the site. However, staff has proposed a condition of approval that requires each owner of an estate have access to tlie common recreation facilities within the development. Staff finds this criterion to be met. 3. There is proposed an adequate assurance through legal instrument Â·for the permanent care and maintenance of open spaces, recreation areas, and shared .facilities together with a deed restriction against future residential, commercial, or industrial development. Staff Finding There is no proposed open space or common park on the site. However, the recreation area (Jacuzzi Spa and deck) is to be maintained by the management company that manages the timeshare lodge. Iii addition, the future residential, commercial, or industrial development of the recreation area would be regulated by the dimensional requirements that are established were established in the final development plan. Therefore, any future developmeiit of the recreation area would require an amendment to the PUD. Staff finds this criterion to be met. H. Utilities and Public Facilities: The purpose of this standard is to ensure the development does not impose uny undue burden on the City's infrastructure capabilities and that the public does - 12 - not incur an unjusti.fied financial burden. The proposed utilities and public facilities associated with the development shall comply with thefollowing: 1. Adequate public infrastructure facilities exist to accommodate the development. Staff Finding The Applicant is not proposing to alter the existing structure. Staff finds this criterion not to be applicable to this application. 2. Adverse impacts on public infrastructure by the development will be mitigated by the necessary improvements at the sole cost of the developer. Staff Finding rhe Applicant is not proposing to alter the existing structure through this amendment and staff does not believe that the conversion of the units to a timeshare lodge will have a substantial adverse impact on the existing public infrastructure. Therefore, staff finds this criterion not to be applicable to this application. 3. Oversized utilities, public facilities, or site improvements are provided appropriately and where the developer is reimbursed proportionately.for the additional improvement. Staff Finding The Applicant is not proposing any alterations to the existing structure and the utility and public facility improvements were considered iii reviewing the original PU D application. Staff finds this criterion not to be applicable to this application. 1. Access and Circulation (Only standards 1&2 apply to Minor PUD applications): The purpose of this standard is to ensure the development is easily accessible, does not unduly burden the surrounding road network, provides adequate pedestrian and recreational trail facilities and minimizes the use of security gates. The proposed access and circulation of the development shall meet the 12,11â€žwing criteria: 1. Each lot, structure, or other land use within the PUD luis adequate access to a public street either directly or through and approved private road, a pedestrian way, or other area dedicated to public or private use. Staff Finding The Applicant is not proposing any physical alteration to the existing structure or site. The access was contemplated and considered to be sufficient during the review of the original PUD application. Staff finds this criterion to be met. 2. The proposed development, vehicular access points, and parking arrangement do not create traffic congestion on the roads surrounding the proposed development, or such surrounding roads are proposed to be improved to accommodate the development. -13- Staff Finding The Applicant is not proposing any physical alteration to the existing structure or site. The access and parking for the Little Red Ski Haus was contemplated and considered sufficient during the review of the original PUD applications. Staff finds this criterion to be met. J. Phasing of Development Plan. The purpose of these criteria is to ensure partially completed projects do not create an unnecessary burden on the public or surrounding property owners and impacts ofan individualphase are mitigated adequately. If phasing of the development plan is proposed, each phase shall be defined in the adopted.final PUD development plan. The phasing plan shall comply with the following: 1. AH phases, including the initial phase, shall be designed to function as a complete development and shall not be reliant on subsequent phases. 2. The phasing plan describes physical areas insulating, m the extent practical, occupants Of initial phasesfrom the construction of later phases. 3. The proposed phasing plan ensures the necessary or proportionate improvements to public facilities, payment of impact feex and fees-in-lieu, construction of any facilities to be used jointly by residents of the PUD, construction of any required affordable housing, and any mitigation measures are realized concurrent or prior to the respective impacts associated with the phase. Staff Finding The Applicant is not proposing any physical alterations to the existing structure. Therefore, no phasing is proposed. Thus, staff finds this criterion not to be applicable to this application. - 14 - Subdivision REVIEW CRITERIA & STAFFFINDINGS Section 26.480 of the City Land Use Code provides that development applications for Subdivision must comply with the following standards and requirements. A. General Requirements: 1. The proposed subdivision shall be consistent with the Aspen Area Comprehensive Plan. Staff Finding Staff believes that the proposed request is consistent with the Aspen Area Community Plan. Staff does not feel that subdividing the proposed development for the purpose of allowing for the units to be owned under a fractional form of ownership is contrary to the goals of the AACP. The City has embraced the idea that timeshare development will help in maintaining a healthier year-round economy as a result of the higher occupancies that are predicted with timeshare development as is consistent with the goals of the Economic Sustainability portion of the AACP. Staff finds this criterion to be met. 2. The proposed subdivision shall be consistent with the character of existing land uses in the area. Staff Finding Staff believes that the proposed timeshare lodge use is consistent with the character of the existing land uses in the surrounding area. The majority of the properties in the immediate vicinity are small lodging establishments or multi-family buildings consisting of three or more units. Staff believes that a lodge or a timeshare development is the appropriate land use for the subject parcel. Staff finds this criterion to be met. 3. The proposed subdivision shall not adversely affect thefuture development Of surrounding areas. Staff Finding Staff does not believe that the proposed conversion of the Little Red Ski LIaus Lodge to a timeshare lodge will have an adverse affect on the future development of the surrounding properties. Staff finds this criterion to be met. 4. The proposed subdivision shall be in compliance with all applicable requirements of this Title. Staff Finding Staff believes that the proposed subdivision to allow for timeshare of the existing lodge in itsel f is in compliance with all the applicable requirements o f the Land Use Code. -15- B. Suitability of Landfor Subdivision a. Land suitability. The proposed subdivision shall not be located on land unsuitable for development because offlooding, drainage, rock or soil creep, mt"Ulow, rockslide, avalanche or snowslide, steep topography or any other natural hazard or other condition that will be harmful to the health, safety, or welfare of the residents in the proposed subdivision. b. Spatial pattern efficient. The proposed subdivision shall not be designed to create spatial patterns that cause inejjiciencies, duplication or premature extension of public.facilities and unnecessary public costs. Staff Finding The subject site is currently developed and is not located in an area of geological hazard that would put the inhabitants iii of the proposed development at risk. In addition, staff does not believe that the proposal will require duplication or extension of public facilities. Staff finds these standards not to be applicable. C. Improvements. The improvements setforth at Chapter 26.580 shall be provided .for tile proposed subdivision. These standards may be varied by special review (See, Chapter 26.430) if the following conditions have been met: 1. A unique situation exists for the development where strict adherence to the subdivision design standards would result in incompatibility with the Aspen Area Comprehensive Plan, the existing, neighboring development areas, and/or the goals of the community. 2. The applicant shall specify each design standard variation requested and provide justificationfor each variation request, providing design recommendations by professional engineers as necessary. Staff Finding The Applicant is not proposing to physically alter the existing structure and the site improvements were made and accepted during the original PUD approval. Staff believes that sub-standards 1 and 2 are not applicable. D. Affordable housing. A subdivision which is comprised of replacement dwelling units shall be required to provide affordable housing in compliance with the requirements of Chapter 26.520, Replacement Housing Program. A subdivision which is comprised of new dwelling units shall be required to provide affordable housing in compliance with the requirements of Chapter 26.470, Growth Management Quota System. -16- Staff Finding The conversion of the existing lodge to a timeshare lodge does not currently require employee-housing mitigation if the Applicant is not doing a physical expansion to the number of bedrooms. It should be noted that staff is currently looking at the employee generation rates between a lodge and a timeshare lodge with a consultant and a conversion of this nature in the future may require mitigation. Staff finds this criterion to be met. E. School Land Dedication. Compliance with the School Land Dedication Standards set forth at Chapter 26.630. Staff Finding The Applicant is proposing a conversion to a timeshare lodge and there are no residential units being created in the proposed development. The school land dedication requirement is only applicable to subdivisions that add residential units. Therefore. staff finds this review standard not to be applicable to this application. F. Growth Management Approval. Subdivision approval may only be granted to applications Â·for which all growth management development allotments have been granted or growth management exemptions have been obtained, pursuant to Chapter 26.470. Subdivision approval may be granted to create a parceks) zoned Affordable Housing Planned Unit Development (AH-PUD) without jirst obtaining growth management approvals if the newly created parce!(s) is required to obtain such growth management approvals prior to development through a legal instrument acceptable to the City Attorney. (Ord. No. 44-2001, Â§ 2) Staff Finding A conversion from a lodge to a timeshare lodge that does not add bedrooms does not require a GMOS allotment or exemption. Please see staff' s response to review standard "D'above. Staff finds this criterion not to be applicable to this application, -17- Timeshare REUEW CRITERIA & STAFFFINDINGS Section 26.590 of the City Land Use Code provides that development applications for Tinleshare Lodge Development must comply with the following standards and requirements. A. Fiscal Impact Analysis and Mitigation. Any applicant proposing to convert an existing lodge to a timeshare lodge development shall be required to demonstrate that the proposed conversion will not have a negative tax consequence for the City. In order to demonstrate tile tax consequences of the proposed conversion, the applicant shall prepare a detailed fiscal impact study as part of the Jinal PUD application. The fiscal impact study shall contain at least the .following comparisons between the existing lodge operation and the proposed timeshare lodge development: 1. A summary of the sales taxes paid to the City for rental of lodge rooms during the prior jive years of its operation. If the lodge has stopped renting rooms prior to the time of submission Of the application, then the summary shall reflect the final jive years the lodge was in operation. The summary of past taxes paid shall be compared to a projection Of the sales taxes the proposed timeshare lodge development will pay to the City over the first five years of its operation. As part of this projection, the applicant shall specify the number of nights the applicant anticipates each timeshare lodge unit will be available for daily rental to visitors (that is, the annual number of nights when the unit will not be occupied by the owner or the owner's guests), the expected visitor occupancy rate for these units, the expected average daily cost to rent the unit, and the resulting amount of sales tax that will be paid to the City. 2. An estimation of tile real estate transfer taxes that would be paid to the City if the existing lodge were to be sold. If an actual sale of the property has occurred within the last 12 months, then the real estate taxes paidfor that sale shall be used. This estimation shall be compared to a projection of the real estate transfer taxes the proposed timeshare lodge development will pay to the City over the Jirst five years of its operation. This projection shall include a statement of the expected sales prices for the timeshare estates, and the applicable tax rate that will be applied to each sale. 3. A summary of the City-portion of the property taxes paid for the lodge for the prior five years of its operation, and a projection of the property taxes the proposed timeshare lodge development will pay to the City over the first five years of its operation. This projection shall include a statement of the expected value that will be assigned to the property by the Tax Assessor, and the applicable tax rate. -18- The fiscal impact study may also contain such other information that the applicant believes is relevant to understanding the tax consequences of the proposed development. For example, the applicant may provide information demonstrating there will be "secondary", or "indirect" tax benejits to the City from the occupancy of the timeshare units, in terms of increased retail sales and other economic activity in the community as compared to the existing lodge development. The applicant shall be expected to prove definitively why the timeshare units would cause such economic advantages that would not be achieved by a traditional lodge development. Any such additional information provided shall compare the taxes paid during the prior five years of the lodge's operation to the jirstfive years of the proposed timeshare lodge's operation. If the fiscal impact study demonstrates there will be an annual tax loss to the City from the conversion of an existing lodge to a timeshare lodge, then the applicant shall be required to propose a mitigation program that resolves the problem, to the satisfaction of the Aspen City Council. The accepted mitigation program shall be documented iii the PUD Agreement for the project that is entered into between the applicant and the Aspen City Council. Staff Findings The Applicant has provided a fiscal impact analysis that projects that there will be an overall net gain in taxes collected as a result of the proposed timeshare development over tile first five (5) years of it's operation as compared to the last five (5) years of operation of the existing Little Red Ski Haus Lodge. The Planning Staff has referred the proposal to the City Finance Director for comments on the fiscal impact analysis. The timeshare regulations that were approved and enacted late last year established that City Council, at its sole discretion, would determine whether the fiscal impacts of a timeshare project would necessitate mitigation for a loss in sales tax revenues to the City. Therefore. the timeshare aspect of the review by the Planning and Zoning Commission shall be focused around the projects compliance with the mandatory physical elements that are required in all timeshare projects rather than the fiscal impacts of the proposal. Staff finds this set of criterion to be met. B. Upgrading of Existing Projects. Any existing project that is proposed to be converted to a timeshare lodge development shall be physically upgraded and modernized. The extent of the upgrading that is to be accomplished shall be determined as part of the PUD review, considering the condition of the existing facilities, with the intent being to make the development compatible in character with surrounding properties and to extend the useful life of the building. 1. To the extent that it would be practical and reasonable, existing structures shall be brought into compliance with the City's adopted fire, health, and building codes. - 19 - 2. No sale of any interest in a timeshare lodge development shall be closed until a certijicate of occupancy has been issued for the upgrading, Staff Finding The Applicant is not proposing to further upgrade the structure because the structure was brought into compliance with the applicable fire, health, and building codes as part of the lodges remodel and expansion just about a year ago. Additionally. the lodge has already completed their remodel and has a certificate of occupancy. Staff finds this criterion to be met. C. Preservation of Existing Lodging Inventory. An express purpose of these regulations is to preserve and enhance Aspen's existing lodging inventory. Therefore, any proposal to convert an existing lodge or other property that provides short term accommodations to a timeshare lodge should, at a minimum, replace the existing number of units on the property in the planned timeshare lodge. U the applicant is unable to replace tile existing number of units, then the timeshare lodge development shall replace the existing number of bedrooms on the property, or the applicant shall demonstrate how the proposal complies with the purposes of these regulations, even though the planned timeshare lodge will not replace either the existing number of units or bedrooms. Staff Finding The Applicant is proposing to convert the existing lodge rooms to timeshare lodge rooms. Additionally, the Applicant is not proposing to reduce the number of accommodation bedrooms. Therefore. staff finds this criterion to be met. D. Affordable Housing Requirements. 1. Whenever a timeshare lodge development is required to provide affordable housing, mitigation for the development shall be calculated by applying the standards of the City's housing designee for lodge uses. The affordable housing requirement shall be calculated based on the maximum number of proposed lock out rooms in the development, and shall also take into account any retail, restaurant, conference, or other functions proposed iii the lodge. 2. The conversion of any multi-family dwelling unit that meets the definition of residential multi-family housing to timesharing shall comply with the provisions of Chapter 26.530, Resident Multi-Family Replacement Program, even when there is no demolition of the existing multi-family dwelling unit. Staff Finding The current land use code standards do not require a conversion from a lodge to a limeshare lodge to mitigate for employee housing if an expansion is not taking place. - 20 - Moreover. he existing growth management requirements treat the lodge and timeshare lodge uses as being equal in regards to employee generation. However. it should be noted that staff is working with a consultant to look into how timeshare lodge units compare with lodge units in relation to employee generation. Staff finds this criterion not to be applicable to this application. E. Parking Requirements. 1. The parking requirement Â·for timeshare lodge development shall be calculated by applying the parking standard for the underlying zone district for lodge uses. The parking requirement shal[ be calculated based on the maximum number of proposed lock out rooms in tile development. 2. The timeshare lodge development shall also provide an appropriate level of guest transportation services, such as vans or other shuttle vehicles, to offer an alternative to having owners anti guests using their own vehicles in Aspen. 3. The owner of a timeshare estate shall be prohibited from storing a vehicle iii a parking space on-site when the owner is not using that estate. Staff Finding The existing lodge currently has three (3) on-site parking spaces for a total of fourteen (14) lodge rooms. This provides a parking ratio of .21 parking spaces per lodging bedroom. which was established as acceptable through the recent PUD approval. When the PUD for the remodel and expansion of the lodge was reviewed. it was reviewed under the premise that there would be occasions when the lodge would 100% occupancy. Staff does not believe that converting the lodge to a timeshare lodge will ever push the occupancy level at one time over the 100% occupancy level that was considered in the PUD review. Therefore, staff believes that the existing parking is sufficient to accommodate the proposed conversion. Additionally. staff has proposed a condition of approval that does not allow for a timeshare owner to store their vehicle on-site when they are not staying at the lodge. Staff finds this criterion to be met. F. Appropriateness of Marketing and Sales Practices. The marketing and sale of timeshare estates shall be governed by the real estate laws set forth in Title 12, Article 61, C.R.S., as may be amended from time to time. The applicant and licenseel marketing entity shall present to the City a plan for marketing the timeshare development. 1. The following marketing and sales practices for a timeshare development shall not be permitted: a. The solicitation of prospective purchasers of timeshare units on any street, mall, or other public property or facility; and -21- b. Any unethical sales and marketing practices which would tend to mislead potential purchasers. Staff Finding The Applicant has represented in their application that they will not solicit purchasers on public property. In addition. the Applicant has consented to comply with the timeshare marketing regulations that are set forth in the Colorado Revised Statues. Therefore, staff finds this criterion to be met. 2. Giving of gifts to encourage potential purchasers to attend a sales presentation or to visit a timeshare development is permitted, provided the gift reflects the local Aspen economy. For example, gifts for travel to or accommodations in Aspen, restaurants in Aspen, and local attractions (ski passes, concert tickets, rafting trips, etc.) are permitted. Gifts that have no relationship to the local Aspen economy are not permitted. The following gifts are also not permitted: a. Any giftfor which an accurate description is not given; b. Any gift package for which notice is not given to the prospective purchaser that the purchaser will be required to attend a sales presentation as a condition of receiving the gifts; and c. Any gift package for which the printed announcement of the requirement to attend a sales presentation is in smaller typeface than the information on the gift being offered. Staff Finding The Applicant has consented to meeting this criterion in their marketing plan that is included in the application. including giving only gifts that our locally serving and oriented. Staff finds this criterion to be met. G. Adequacy of Maintenance and Management Plan. The applicant shall provide documentation and guarantees that the timeshare lodge development will be appropriately managed and maintained in an manner that will be both stable and continuous. This shall include an identification of when and how maintenance will be provided, and shall also address the following requirements: 1. A fair procedure shall be established for the estate owners to review and approve any fee increases which may be made throughout the life of the timeshare development, to provide assurance and protection to timeshare owners that management/assessment fees will be applied and used oppropriately. -22- 2. The applicant shall also demonstrate that there will be a reserve fund to ensure that the proposed timeshare development will be properly maintained throughout its lifetime. Staff Finding The annual budget for the units is to be reviewed and approved by a majority of the owners or the board of directors of the owner's association who are to be elected by a majority vote of the owners. A capital reserve fund will also be set up and will be shown iii the budget to be submitted prior to the City Council hearing regarding this issue. The amount of this capital reserve fund is to be studied on a yearly basis to determine if it is adequate. Staff finds this criterion to be met. H. Compliance with State Statutes. The applicant shall demonstrate tliat the proposed timeshare lodge development will comply with all applicable requirements of Title 12, Article 61, C.R.S.; Title 38, Article 33, C.R.S.; and Title 38, Article 33.3, C.R.S.; including the requirements concerning the five (5) day period for rescission of a sales contract, and the procedures for holding deposits or down payments in escrow. Staff Finding The Applicant has consented to complying with all of the statutory requirements that govern timeshare development. The Applicant will be required to submit instruments for review by the City Attorney's Office and recordation at the Pitkin County Clerk and Recorder's Office. Staff finds this criterion to be met. 1. Approval By Condominium Owners. If the development that is proposed to be timeshared is a condominium, the applicant shall submit written proof that the condominium declaration allows timesharing, that one hundred (100) percent of the owners of the condominium units have approved the timeshare development, including any improvements to the common elements that the applicant may propose, that all mortgagees Of the condominium have approved the proposed timeshare development, and that all condominium units in tile time%hare development will be included in the same sales and marketing program. Staff Finding The proposed development does not involve conversion of an existing condominium into a timeshare. Therefore, staff does not find this criterion applicable to be applicable to this project. J. Prohibited Practices and Uses. Without in any way limiting any requirement contained in this Chapter, it is unlawful for any person to knowingly engage in any of the following practices: 1. The creation, operation or sale of a right-to-use interest or any ollier timeshare concept which is not specifically allowed and approved pursuant to the requirements of this section. Right-to-use timeshare concepts (e.g. - 23 - lease-holds and vacation clubs) are considered inappropriate in Aspen and are not permitted. 2. Misrepresentation of thefacts contained in any application for timeshare approval, timeshare development instruments, or disclosure statement. 3. Failure to comply with any representations contained in any application for timesharing or misrepresenting the substance of any such application to another who may be a prospective purchaser of a timeshare interest. 4. Manage, operate, use, offer for sale or seN a timeshare estate or interest therein in violation of any requirement of this Chapter or any approval granted pursuant hereto, or cause or aid and abet another to violate any requirement of this Chapter, or an approval granted pursuant to this Chapter. Staff Finding The Applicant has consented in the proposed application to meeting the requirements of the timeshare section of the City of Aspen Land Use Code in addition to the statutory requirements for operating timeshare development. Staff finds this criterion to be 1-net. - 24 - Gougark fvlichael F. Franzmann JD, LLM, CPA liam R. Goug@r JD, CPA (CPA Inactive) Robert J. Hooke JD, MA Jeffrey C. Keiffer JD, CPA (CPA Inactive) FI'8I1.Z_..a-L iIi, LLC Lori C. Pappas JD, LLM* Attorneys & Counselors at Law ':Also Admitted in Ohio October 30,2003 James Lindt City ofAspen 130 S. Galena Street, 211(1 Floor Aspen, CO 81611 RE: Little Red Ski Haus, LLC Pursuant to out telephone conversation of October 30,2003, please be advised that our client Little Red Ski Haus, LLC has no objection to your recommendation that 30 days notice be required for a fractional interest owner to reserve his usage of the unit. We agree to amend the application accordingly. If you have any questions regarding this matter, it is always a pleasure to speak with you. I can be reached at (720) 266-1040. Sincerely you~r--1 9%/billy 4/[EhaeT R ftmâ‚¬0:rNit-CPA, LCRE---- Attorney at' La* ~ L/' MPF TAXATION ~ ESTATE PLANNING e BUSINESS LAW e REAL ESTATE 400 Inverness Parkway, Suite 250 0 Englewood, CO 80112 Â© Phone 720-266-1040 â€¢ Fax 720-266-1041 0 www.GF]awfirm.com ATTACHMENT 7 AFFIDAVIT OF PUBLIC NOTICE REQUIRED BY SECTION 26.304.060 (E), ASPEN LAND USE CODE ADDRESS OF PROPERTY: ) 17 6-_ 7 0 0 0 00 (r , Aspen, CO SCHEDULED PUBLIC HEARING DATE: Ch Af-/0- 1 , 200_ / 1, STATE OF COLORADO ) County of Pitkin ) / L ) a w un b M OV r (name, please print) , being or representing an Applicant to the City of Aspen, Colorado, hereby personally certify that I have complied with the public notice requirements of Section 26.304.060 (E) of the Aspen Land Use Code in the following manner: ~ Publication ojnotice. By the publication in the legal notice section of an official paper or a paper of general circulation in the City of Aspen at least fi(teen (15) days prior to the public hearing. A copy of the publication is attached hereto. Posting ofnotice: By posting of notice, which form was obtained from the Community Development Department, which was made of suitable, waterproo f materials, which was not less than twenty-two (22) inches wide and twenty-six (26) inches high, and which was composed of letters not less than one inch iii height. Said notice was posted at least fifteen (15) days prior to the public hearing and was continuously visible from the day of , 200 , to and including the date and time o f the pub],ic hearing. A photograph of the posted notice (sign) is attached hereto. L Mailing of notice. By the mailing of a notice obtained from the Community Development Department, which contains the information described in Section 26.304.060(E)(2) of the Aspen Land Use Code. At least fifteen (15) days prior to the public hearing, notice was hand delivered or mailed by first class postage prepaid U.S. mail to any federal agency, state, county, municipal government, school, service district or other governmental or quasi-governmental agency that owns property within three hundred (300) feet of the property subject to the development application. The names and addresses o f property owners shall be those on the current tax records of Pitkin County as they appeared no more than sixty (60) days prior to the date of the public hearing. A copy of the owners and governmental agencies so noticed is attached hereto. (continued on next page) Rezoning or text amendment. Whenever the official zoning district map is in any way to be changed or amended incidental to or as part of a general revision o f this Title, or whenever the text of this Title is to be amended, whether such revision be made by repeal o f this Title and enactment of a new land use regulation, or otherwise, the requirement of an accurate survey map or other sufficient legal description of, and the notice to and listing of names and addresses o f owners of real property in the area of the proposed change shall be waived. However. the proposed zoning map has been available for public inspection in the planning agency during all business hours for fifteen (15) days prior to the public hearing on such amendments. ~Sfgnature The foregoipg "Affidavit of Notice" was agknowledged before me this ~ 2~ day of J Dryabl- , 200.3 by 3,4--c- 6 1-0 y-vET7 WITNESS MY HAND AND OFFICIAL SEAL . My commission~expires: Notary Public L.'' 11 0.: ,-41 11 Z: 4 47 OF Ik .02 ..,,. ...... ATTACHMENTS: COPY OF THE PUBLICATION PHOTOGRAPH OÂ·F THE POSTED NOTICE (SIGN) LIST OF THE OWNERS AND GOVERNMENTAL AGENCIES NOTICED BY MAIL . 'ri = I m = 4, 0.) C.) . I > 0. - I I >0 A -/ - C. I g A Me G g & : 1% 1 1 : 15 1 1 1 1 1 ,~ to 6. - ELI . Ed E 2 5 2 2 g -= 1 2 4 8 I .-z ... :Z < -t! L.:i 3 H k (' w.....2.' . = 6- $.';-I ~.. ' oz< u.,ma.- -. Z E- 2 0. el. 4 - a}- <AC - 410 2 - 1 . - W 1 C'10 . E-m C < :N TER 3 6 i z z a f 4 m 7 9 Â£ 2,5 6 J g "31 f 2 Cd O 5 24 E- aUc i 5% 5 Â§ 6 f E 1% i â‚¬ 1 1 2%*PE --~ ~~~N-E E - 0 -> oj EQ39 83&*alsi KIE,2,~A,%#%:,~*dEâ€žI.* PUBLIC NOTICE SK! HAE' Itio subinitt, pie wautpulu 11111 hulls!xa a liaAUO] p .Npol aie 007 3 811 le pale:Jol sri pue sn paquosap Kilwhal :1 4,adoic 10 3 101 1, fle" Ulals@ lu nultun 40 *41 le :pull muler P 03 'uorietu ou i q inj .lo.t Â·uadsv jO Ousui,t UU#ED S Â·juaullieda'j wautdola/620 j HU ptle BUIUUVId uadsÂ¥ a Â·13*~sautef '56{)6'-06b WLÂ¢i) 00) '11 Â·gr iaqoPO (10 Satull uadsÂ¥ aql 111 Paqsllqn requesti q a PIa uM NUOUIUUO' St et ng k egin at 4: (t'980) too ATTACHMENT 7 AFFIDAVIT OF PUBLIC NOTICE REQUIRED BY SECTION 26.304.060 (E), ASPEN LAND USE CODE ADDRESS OF PROPERTY: 1 j u u u oop 4/ /4 4â‚¬ , Aspen, CO SCHEDULED PUBLIC HEARING DATE: Ubqlol ,200___ 1 .1 STATE OF COLORADO ) ) SS. County of Pitkin ) I, Be ver (9 Fiere (name, please print) being or represedting an Applicant to the City o f Aspen. Colorado, hereby personally certify that I have complied with the public notice requirements of Section 26.304.060 (E) o f the Aspen Land Use Code in the following manner: Publication ofnotice: By the publication in the legal notice section of ali official paper or a paper o f general circulation in the City of Aspen at least fifteen (15) days prior to the public hearing. A copy of the publication is attached hereto. k Posting of notice: By posting of notice, which form was obtained from the Community Development Department, which was made of suitable, waterproofmaterials, which was not less than twenty-two (22) inches wide and twenty-six (26) inches high. and which was composed of letters not less than one inch in height. Said notice was posted at least fifteen (15) days prior to the public hearing and was continuously visible from the /7Â«day of October , 2003 , to and including the date and time of the public hearing. A photograph Of the posted notice (sign) is attached hereto. Mailing of notice. BY the mailing of a notice obtained from the Community Development Department, which contains the information described in Section 26.304.060(E)(2) of the Aspen Land Use Code. At least fifteen (15) days prior to the public hearing, notice was hand delivered or mailed by first class postage prepaid U.S. mail to any federal agency, state, county, municipal government, school, service district or other governmental or quasi-governmental agency that owns property within three hundred (300) feet of the property subject to the development application. The names and addresses of property owners shall be those on the current tax records of Pitkin County as they appeared no more than. sixty (60) days prior to the date of the public hearing. A copy of the owners and governmental agencies so noticed is attached hereto. (continued on next page) Rezoi'ling or text amendment. Whenever the official zoning district map is in any way to be changed or amended incidental to or as part of a general revision of this Title. or whenever the text of this Title is to be amended, whether such revision be made by repeal of this Title and enactment of a new land use regulation, or otherwise, the requirement of an accurate survey map or other sufficient legal description of. and the notice to and listing of names and addresses o f owners of real property in the area of the proposed change shall be waived. However, the proposed zoning map has been available for public inspection in the planning agency during all business hours for fifteen (15) days prior to the public hearing on such amendments. c- 4 +*4<Â»+L Signature ~- The foregoing ~Affidavit of Notice" was acknowledged before me this Â£7'' day of tÂ·Â·Â·Â·J Lp jp . .2001, by (geÂ«.,-A-, F-Ton<_ WITNESS MY HAND AND OFFICIAL SEAL My commishion expires: '-t6e<Â·01' 5-9 Notary Public */ f SARAH i CATES to. f c ri 47 4 68-864? ~- ATTACHMENTS: COPY OF THE PUBLICATION PHOTOGRAPH OF THE POSTED NOTICE (SIGN) LIST OF THE OWNERS AND GOVERNMENTAL AGENCIES NOTICED BY MAIL 0 1. 00<09 - 00 D. I f f . tY LW .C .. 00 , , -4 I I Â£ r : - I *; NA 0ANA0NO NHN+ 1 3097 <No. 1 â€¢4 A > 54 ,-1 . . 1 . Â·9 1 DATE TIMI ACF i JRP,>SE i I 1 1 \ \/ \,Lk k ..4 - 16. -. NA OANAON0 NWN+ 1 3097 < <No. 13A > 55 1% 4. 01*It .4.-:441.10 :illÂ¢ R,Â·f ..tk, ~4Â· =p, --1, \ i All fit;*im : : .fr Jilp F- 4 .V A -44 ' ):14*, *:01: 1 .irfw 1 ' . tr Vi - 6 &4./1 2 Â·>-34Â·761 6 0x 'bal<. , E 07 Â· ff, h ,*â€¢ lr'Â·C --- Â·* ~- 4 4 44= : 1 4 H JA A.,43 133 - 4 - */8 .1 1 65 8 Blt& 2%1 -4..2 . f.0 1 * 1/ -7 5 22 2 1 5Lk 'i ,/:SH//'ll ..PY''Ell' IIMIIIEZI 4./.4 - NA 0ANAON0 HNN+ 1 la,77 ~ Â·_: tal Dâ€¢ 1 <No . 2 1 A> 47 K.j . 1 . DATE 11/4 - TIME 4 30 41 SILA ER CITIE. LACE 32 7 y ddat URPOSE fooll J~ Ale.4/1 St//1/41& 51] 1131 1 AIESWAKE 16 - UNfy-' 49136[ 1 0 1 AIL 9meL L.La=C Â· N i,i.: -Ill.Ic//81. IM Nâ€¢pli,Ul, iâ€¢. -./. 1. S.,Â¢11 4.AlE N. All/, 0 NA OANAâ‚¬llÂ·Â·iti i -it irrr 1 3097 10 k#Wi - 0 <No. 15A> 53 ATTACHMENT 7 AFFIDAVIT OF PUBLIC NOTICE REQUIRED BY SECTION 26.304.060 (E), ASPEN LAND USE CODE ADDRESS OF PROPERTY: "t if nAA n, i .P J pu , Aspen, CO ~, Â»W r 1 SCHEDULED PUBLIC HEARING DATE: 11-4 , 200-1 STATE OF COLORADO ) ) SS. County of Pitkiii ) M cia.pl R (name, please print) being or representing an Applicant to the City of Aspen. Colorado, hereby personally certify that I have complied with the public notice requirements of Section 26.304.060 (E) of the Aspen Land Use Code in the following manner: Publication of notice: By the publication in the legal notice section of an official paper or a paper of general circulation in the City of Aspen at least fifteen (15) days prior to the public hearing. A copy of the publication is attached hereto. Posting ofnotice: By posting of notice, which form was obtained from the ,/ Community Development Department, which was made of suitable, tÂ· waterproof materials, which was not less than twenty-two (22) inches wide tÂ· ,, and twenty-six (26) inches high, and which was composed of letters not t.Â· - less than one inch in height. Said notice was posted at least fifteen (15) days prior to the public hearing and was continuously visible from the day of , 200 , to and including the date and time ofthe public ~ hearing. A photograph of the posted notice (sign) is attached hereto. t-- Mailing of notice. By the mailing of a notice obtained from the Community Development Department, which contains the information described in Section 26.304.060(E)(2) of the Aspen Land Use Code. At least fifteen (15)Â·days prior to the public hearing, notice was hand delivered or mailed by first class postage prepaid U.S. mail to any federal agency, state, county, municipal government, school, service district or other governmental or quasi-governmental agency that owns property within three hundred (300) feet of the property subject to the development application. The names and addresses of property owners shall be those on the current tax records of Pitkin County as they appeared no more than sixty (60) days prior to the date of the public hearing. A copy of the owners and governmental agencies so noticed is attached hereto. (continued on next page) Rezoning or text amendment. Whenever the official zoning district map is in any way to be changed or amended incidental to or as part of a general revision o f this Title, or whenever the text of this Title is to be amended, whether such revision be made by repeal of this Title and enactment of a new land use regulation, or otherwise, the requirement of an accurate survey map or other sufficient legal description of. and the notice to and listing o f names and addresses o f owners o f real property in the area o f the proposed change shall be waived. However, the proposed zoning map has been available for public inspection in the planning agency during all business hours for fifteen (15) days prior to the public hearing on such amendments. dignature The fore.oing "Affidavit of Notice" was acknowledged before me thlk Â£7~ day of r.3 04 . 2013 by ~OJE-la 1- -, r.- WITNESS MY HAND AND OFFICIAL SEAL My commission expires: 30Â«39.- 0~1-~ Apt<Â·Â·Â· --Meâ‚¬*b. Notary Plilic ~ f< SARAH 2: 1 M u, i OATES i OB /0B NkIx.Â·... i ATTACHMENTS: COPY OF THE PUBLICATION PHOTOGRAPH OF THE POSTED NOTICE (SIGN) LIST OF THE OWNERS AND GOVERNMENTAL AGENCIES NOTICED BY MAIL CHALET LISL PARTNERSHIP WINKELMAN WENDY L BEVERS ROCHELLE C RE TRST LTD 108 W HYMAN AVE #8 2300 BARTON CREEK BLVD #25 100 E HYMAN AVE ASPEN, CO 81611 AUSTIN, TX 78735 ASPEN, CO 81611 PERREAULT GEORGE C CRETE ASSOCIATES LP BEVERS ROCHELLE C RE TRST 7336 CAPTAIN KIDD AVE C/O UNIVERSITY CITY 2300 BARTON CREEK BLVD #25 SARASOTA, FL 34231-5442 HOUSING CO AUSTIN, TX 78735 PO BOX 1524 BRY-NMAWR, PA 19010 PERREAULT GEORGE C IVES THEODORA H LIPTON DONN H & MARILYN G 7336 CAPTAIN KIDD AVE 1874 SPINDRIFT DR TRUSTEES SARASOTA, FL 34231-5442 LA JOLLA, CA 92037 1600 WOODSON RD ST LOUIS, MO 63114 TANGUAY MICHAEL GLICKENHAUS & CO WHITMAN WENDALIN LAWRENCE ATTN: DAVID FISCHER 210 E HYMAN AVE #101 319 AABC STE G 6 E 43RD ST ASPEN, CO 81611 ASPEN. CO 81611-3516 NEW YORK. NY 10017 LAW GLENN EUGENE RENO ASPEN PROPERTIES LLC BRALVER RICHARD PO BOX 2537 210 E HYMAN AVE #202 PO BOX 10605 ASPEN, CO 81612 ASPEN, CO 81611 ASPEN, CO 81612 DALTON CHARLES O & RASMUSSEN DAVID L & RITA DEVANNY EARL H III & SUSANNA C M ELIZABETH H 4406 N OCEAN BLVD 2907 LUCERN CT 1246 W 59TH ST MYRTLE BEACH, SC 29577 ARLINGTON, TX 76012 KANSAS CITY, MO 64113 OFM HOLDINGS LP LAW GLENN EUGENE MACDONALD VALERIE PO BOX 541208 PO BOX 2537 PO BOX 1681 DALLAS. TX 75354 ASPEN. CO 81612 ASPEN. CO 81612 DAVIS BRUCE L DIAGNOSTIC IMAGING SCHIFFER SPENCER F PO BOX 8851 ASSOCIATES 985 CE-METERY LN ASPEN, CO 81612-8851 3900 S WADSWORTH #250 ASPEN, CO 81611 LAKEWOOD, CO 80235 BARNES JACK & BONITA STERN JOANNE KAY MURRAY ELIZABETH 125 E HYMAN AVE 2A 104 W COOPER AVE #3 PO BOX 10459 ASPEN. CO 81611 ASPEN. CO 81611 ASPEN. CO 81612 JACKSON KATHIE HARTMAN FAM PTNR LTD RUTLEDGE WILLIAM O IV 60% P O BOX 1667 209 W FELICITY ST 305 S ASPEN #2 SOLANA BEACH, CA 92075-7667 ANGOLA. IN 46703 ASPEN, CO 81611 HEALY JOSEPH E GLISMANN JOHN P NORRIS JOAN 11470 COMPASS PT DR PO BOX 4999 3334 E COAST HWY PMB 145 FORT MYERS. FL 33908-4949 ASPEN. CO 81612 CORONA DEL MAR CA 92625 CHICAGO SNOWFLAKE SARICK SHEREEN CLAIRE GOLDMAN SHERYL LYNN CORPORATION 95 BARBER GREEN RD APT305 520 E COOPER ST STE 210 C/O SHELL PROPERTIES CORP DON MILLS ONTARIO ASPEN, CO 81611 40 SKOKIE BLVD STE 350 CANADA. M3C2A2 NORTHBROOK, IL 60062 COHEN JACK DAVID MORGAN LUCINDA P STARR INC A NEVADA 715 HEARTHSTONE DR 244 EASTWOOD ROAD CORPORATION BASALT, CO 81621 ASPEN. CO 81611 PO BOX 11980 ASPEN, CO 81612 TIERNEY ANN E 1 /2 LARKIN FRED C KESSELRING ROBERT D PO BOX 2391 LARKIN LUCETTA M 100 E COOPER AVE #12 ASPEN, CO 81612 ONE COVE LN ASPEN, CO 81611 LITTLETON, CO 80123 LITTLE RED SKI HAUS STUNDA STEVEN R SIRKIN ALAN & ALICIA 118 E COOPER AVE 515 5TH ST 3500 S BAY HOMES DR ASPEN, CO 81612 ANNAPOLIS, MD 21403 MIAMI, FL 33133 DOLLE NORMA L 55Â°/0 FULSTONE AMY HAYDEN DOLLE NORMA 1103 HERITAGE DR 31 RIVERS RD 124 E COOPER AVE CARBONDALE, CO 81623 SMITH, NV 89430 ASPEN, CO 81611 BECK GLENNIS GEORGE KEALY MARGE A/K/A KNAPP MICHAEL 2928 SNOWMASS CREEK RD MARGARET 137 PEARL ST SNOWMASS, CO 81654 3647 N ST LOUIS AVE GRAND RAPIDS, MI 49503-2808 CHICAGO, IL 60618 DEWIND JODETTE L SCHEUER KIM PRODINGER IRMA 100 E COOPER AVE #3 100 E COOPER #2 PO BOX 1245 ASPEN, CO 81611 ASPEN, CO 81611 ASPEN, CO 81612 BRADFORD ALISON MADHAVI CITY OF ASPEN SHENNAN MELISSA A 3776 W 3700 N 130 S GALENA ST 822 LANE LORRAINE DARLINGTON, ID 83255 ASPEN, CO 81611 LAKE FOREST, IL 60045-1643 BRAYMAN WALTER W & SCULL JAMES E WITEK ROBERT PATRICIA PO BOX 2051 411 E MAIN ST 5530 FAIRWAY ASPEN, CO 81612 ASPEN, CO 81611 SHAWNEE MISSION. KS 66205 LAMAN WILLIAM H AND E LADD EDWIN V JR & WILMA C FYRWALD JON ERIK & MARGRIT 51 GREAT MEADOW LN GUDRUN L 2301 CALLE LOS ALTOS AVON, CT 06001-4549 915 CECIL RD TUCSON, AZ 85718 WILMINGTON, DE 19807 COHEN FRANK R ANDERSEN PAUL EGON LIMELITE INC 335 DETROIT ST #504 488 CASTLE CREEK RD A COLORADO CORPORATION DENVER, CO 80206 ASPEN, CO 81611-3110 228 E COOPER AVE ASPEN, CO 81611 CLAUSEN FAMILY TRUST NO 1 DOLLE NORMA CLARK ANDREA C/O HYNDS JOHN W TRUSTEE 124 E COOPER AVE PO BOX 2332 PO BOX 685 ASPEN, CO 81611 ASPEN, CO 81612 MORRIS. IL 60450 SULLIVAN JOI-IN B STROH GEORGE C SAUNDERS-WHITE CAROL REV SULLVAN JUNE A 8525 SKYLAND DR TRUST PO BOX 367 NIWOT, CO 80503 PO BOX 8100 SAVANNA, IL 61074-0367 ASPEN, CO 81612 NEWMAN KERRY J & RICKI R SHAW ROBERT W GUTNER KENNETH H 617 PRINCE DR PO BOX 121157 REVOCABLE TRUST NEWBURGH, IN 47630 FORT WORTH, TX 76121 GUTNER KENNETH H TRUSTEE PO BOX 11001 ASPEN, CO 81612 ZAUNER nEINZ JURGEN CARRIGAN RICHARD A JR LEATHERMAN ROBERT D C/O BARBARA ELIAS FERMILABS PO BOX 11930 0451 STAGECOACH LN KIRK AND WILSON RD ASPEN, CO 81612 CARBONDALE, CO 81623 BALAVIA, It 60510 CARRUTHERS MARILYN SUMMIT VIEW INC JACOBSON FAMILY TRUST 101 E COOPER #301 248 WASHINGTON ST 2168 SANTA MARGARITA DR ASPEN, CO 81611 TOMS RIVER, NJ 08754 FALLBROOK, CA 92028 TYLER BERIT G & TYLER BOGIN ROBERT M KEITH JOHN III CHARLES E 4280 S MEADOW BROOK LN 300 PUPPY SMITH ST #205-230 101 E COOPER AVE #302 EVERGREEN, CO 80439 ASPEN, CO 81611 ASPEN, CO 81611 HOUGH HAZEL C CALLAHAN PATRICIA MACALPINE KENDRA M 1991 1 BEACH DR APT #1002 0184 MOUNTAIN LAUREL DR TRUST ST PETERSBURG, FL 33701 ASPEN, CO 81611 101 E COOPER AVE - APT 201 ASPEN, CO 81611-1758 GILBERT CHARLENE B KAUFMAN STEVEN B TRUST JOBE MARCIA P O BOX 35 C/O VIRGINIA HARLOW P O BOX M-3 CARBONDALE, CO 81623-0035 0554 ESCALANTE ASPEN, CO 81612 CARBONDALE, CO 81623-8770 GEORGIEFF KATHERINE WHITE JALEH STITT ELIZABETH WILES TRUSTEE OF THE 960 E DURANT #7 IRREV TRUST KATHERINE GEORGIEFF ASPEN, CO 81611-2024 1450 SILVERKING DR REVOCABLE LIVING TRS ASPEN, CO 51611 #11 TOPPING LN tftk9Wf@iMW]Â§3AMAUREN CURRAN CHRISTINA H COLEMAN ISAIAH 9696 CULVER BLVD STE 203 C/O MR & MRS RWE NEILSON PO BOX 11239 CULVER CITY, CA 90232 DUKES HOUSE SANDY LN ASPEN, CO 81612 BLAZEFIELD HARROGATE, HG3 5DT UK POPKIN PHILIP G CROCKETT RUFUS BINSTOCK ABBE I PO BOX 7956 PO BOX 3837 FLAT 2 ASPEN, CO 81612 ASPEN. CO 81612 2 EGERTON PLACE LONDON ENGLAND, UK SW32EF HERRON SANDRA RUMSEY DANIEL W OTT JOHN & CAROL 1245 FRANCISCAN COURT - #2 27212 APPALOOSA RD 101 E COOPER AVE #203 CARI'INTERIA, CA 93013 SANTA CLARITA, CA 91387- ASPEN, CO 81611 4806 GUBSER NICHOLAS J DEWIND JODETTE L WEINGLASS LEONARD PO BOX 870 119 E COOPER - APT 12 PO BOX 11509 ASPEN, CO 81612 ASPEN, CO 81611-1772 ASPEN, CO 81612 FENZL SUSAN ALLEN DOUGLAS P LIMELITE INC 119 E COOPER AVE UNIT 11 520 E COOPER AVE STE 230 228 E COOPER ASPEN, CO 81611 ASPEN, CO 81611 ASPEN, CO 81611 BOVINO FAMILY MILLER R GREG LEBBY ERIN INVESTMENTS LLC PO BOX 4577 PO BOX 1352 2201 S OCEAN BLVD APT 2803 ASPEN CO 81612 ASPEN, CO 81612 HOLLYWOOD~ FL 33019 LONE EAGLE TRUST VANOVER STEFANIE KAI LIMELITE INC PO BOX 3550 PO BOX 3394 PAAS LEROY G ASPEN, CO 81612 ASPEN, CO 81612 228 E COOPER AVE ASPEN, CO 81611 FUQUA ALVAH D JR & DIANNE BRUMDER PHILIP G & WICHMANN VICTORIA L ASMUTHANTHONY 119 E COOPER AVE #4 446 LAKE SHORE DR QUARLES & BRADY C/O ASPEN, CO 81611 SUNSET BEACH, NC 28468 411 E WISCONSIN AVE STE 2500 PRODINGER IRMA MkU**Â¥KRL E*k53202 BLACKWELL CLARENCE A & PO BOX 1245 119 E COOPER ST #6 ANNE H ASPEN, CO 81612 ASPEN, CO 81611 PO BOX 3180 ANNAPOLIS, MD 21403 HOTEL DURANT SHENK ROBERT D SnENK JAMES R 122 E DURANT 0304 HWY 133 TRUSTEE OF SHENK TRUST ASPEN, CO 81611 CARBONDALE, CO 81623 0304 HWY 133 CARBONDALE, CO 81623 UHLFELDER FAMILY GINSBURG ANNE C & ROBERT PINES LODGE DEVELOPMENT INVESTMENTS RLLP B LLC 633 N 4TH ST 7933 YORKSHIRE CT 960 E DURANT AVE #7 ASPEN, CO 81611 BOCA RATON, FL 33496-1323 ASPEN, CO 81611 HEIM WILLIAM D KIRSCHNER CAROLE J ROSE JON E 124 E DURANT AVE APT 1 300 PUPPY SMITH #203 PMB ROSE RITA L ASPEN, CO 81611-1769 278 303 MAGNOLIA LAKE DR ~ ASPEN, CO 81611 LONGWOOD, FL 32779 TAYLOR HARVEY C SEVERY CHARLES L 70.39% ALYEMENI MOHAMMED & W 301 N 9430 HWY E 30 DEXTER ST ALICE HARTLAND, WI 53029 DENVER, CO 80220 819 LINWOOD RD MOORESVILLE, NC 28115 6.- IUBLIC NOÂ¥Â£1 i DATE.lkâ‚¬ f TIME-9.32 -4 2.ST ER CIT 1& ~LACE a- i Y HA Ul ~URPOSE plifil Ha 2 ~A *64 / ,, St/POLI &'2 91 0029 t J A# L 9 ' 'HL 1:2 2>.t 9 W -1 1 .-u'' â‚¬U. I ifl-'i~ G.3 f Ill - 44 71. -- 24.7.' 4 49â‚¬ AFFIDAVIT OF PUBLIC NOTICE REQUIRED BY SECTION 26.304.060 (E), ASPEN LAND USE CODE ADDRESS OF PROPERTY: '35'6 15ic-vELiC.LotzE, 15*t U~ ' Aspen, CO SCHEDULED PUBLIC HEARING DATE: ~dEX,/ L~~ tFÂ£30:z) , 20025 STATE OF COLORADO ) ) SS. County of Pitkin ) i txik~ HA-FRI 5 (name, please print) being or representing an Applicant to the City of Aspen, Colorado, hereby personally certify that I have complied with the public notice requirements of Section 26.304.060 (E) of the Aspen Land Use Code in the followin o manner: 0 2-ublication Of notice: By the publication in the legal notice section of an official paper or a paper of general circulation in the City of Aspen at least fifteen (15) days prior to the public hearing. A copy ofthe publication is attached hereto. 000''Posting ofnotice: By posting of notice, which form was obtained from the Community Development Department, which was made of suitable, waterproof materials, which was not less than twenty-two (22) inches wide and twenty-six (26) inches high, and which was composed of letters not less than one inch in height, Said notice was posted at least ten (10) days priorlo the public hearing and was continuously visible from the 24 day of Â£52,11243 $.(00 3, to and including the date and time ofthe public hearing. A photograph of the posted notice (sign) is attached hereto. Mailing Of notice. By the mailing of a notice obtained from the Community Development Department, which contains the information described in Section 26.304.060(13)(2) of the Aspen Land Use Code. At least ten (10) days prior to the public hearing, notice was hand delivered or mailed by first class, postage prepaid U. S. mail to all owners of property within three hundred (300) feet ofthe property subject to the development application, and, at least fifteen (15) days prior to the public hearing, notice was hand delivered or mailed by first class postage prepaid U.S. mail to any federal agency, state, county, municipal government, school, service district or other governmental or quasi-governmental agency that owns property within three hundred (300) feet ofthe property subject to the development application. The names and addresses ofproperty owners shall be those on the current tax records of Pitkin County as they appeared no more than sixty (60) days prior to the date of the public hearing. A copy of the owners and governmental agencies so noticed is attached hereto. (continued on next page) Rezoning or text amendment. Whenever the official zoning district map is in any way to be changed or amended incidental to or as part of a general revision of this Title, or whenever the text o f this Title is to be amended, whether such revision be made by repeal ofthis Title and enactment of a new land use regulation, or otherwise, the requirement of an accurate survey map or other sufficient legal description of, and the notice to and listing of names and addresses of owners of real property in the area ofthe proposed change shall be waived. However, the proposed zoning map has been available for public inspection in the planning agency during all business hours for fifteen (15) days prior to the public hearing on such amendme~ts. 44Â» Ex Siinattrfeb The foregoing "Affidavit of Notice" was q,cknowledged ~fore me this 9~ day Of ht)(De,vy,- \o,e r 2003, by Kailevi 4 Ye,Â¥â‚¬F_97- WITNESS MY HAND AND OFFICIAL SEAL i RALENE Â· MrÂ®mmissioil eyire, 1)19 j.16(1-6 :. : PETERSON . .j 1:A... e i,-e.;:RONM NotarÂ¢ Public 4IhÂ· ofrmlt,slol i Exime., J i, i .' ,, 11(18 ATTACHMENTS: COPY OF THE PUBLICATION PHOTOGRAPH OF THE POSTED NOTICE (SIGN) LIST OF THE OWNERS AND GOVERNMENTAL AGENCIES NOTICED BÂ¥ MAIL . ' *0.,# ' t %1' . i. Â¥ .... 0.2 4 TIME Â· ~ ~ PUBLIC NOTICE DATE -ri 3 / 1 /PLACE 983: 11 1 PURPOSi -- /- h. ///ret; imp'+41,5/:2:,0034 4. ~:A'292.&91'lkI' 5.;4-' ~*6<-Â© f ..... -r- 1~1*'-Â·.PÂ·â„¢ALR~Wa'~â€¢\2 .4.iÂ·69.9LU~â„¢Ll.- . NA 0A1A2N0 NNN+ 1 3154 <No. 24A> 966 . 4 t, 1/l' 00 Â¥ T 1 i 5.2 1.1,11, 1, lilli. 1 ./.1 lu . IM ./r..9 1.t,111."..1 1â€¢1 .1 7 -R.' *086Rfeb. '1'r.\ jtrit'~~)* .:. 4,07,Â·4,1Â£ . , #'*,th'm.t 3 .1"I --1, 11,6 '1. 4 , ip;'11,r -1,19, Al-ima,q, M NA 0AIA2NO WNN+ 1 3154 <No. YZE5A > 965 ASPEN MOUNTAIN CONSTRUCTION INC ABELIA INVESTMENT LTD BOSTICK BARBARA OWEN- PO BOX 4067 PO BOX 8029 340 SILVERLODE DR C/O GEORGE WILKINSON ASPEN, CO 81612 ASPEN, CO 81611-2542 ASPEN, CO 81612 CAREY JANE ELIZABETH DALESSIO ROBERT J & JEAN M ERB MARY ANN 110 WILLIAMS RANCH DR 60 WILLIAMS RANCH DR 8401 GREENWOOD DR ASPEN, CO 81611 ASPEN, CO 81611 LONGMONT, CO 80503 FINGERMAN SHELDON FUCHS PETER H & HENRICKA A GLEASON AUSTIN & GEORGE ANNA PO BOX 8692 844 3RD ST #D 3918 SUNSET ASPEN, CO 81612 SANTA MONICA, CA 90403-1104 SHREVEPORT, LA 71109 HAGOPIAN CONSTANCE E TRUSTEE HAGOPIAN SANDY 52% HAMOUZ JAMES B & KERRI L 48% 213 S MILL ST 130 WILLIAMS RANCH DR C/O DAVID A NEARON ASPEN, CO 81611 ASPEN, CO 81611 1212 ROSSMOOR PKWY WALNUT CREEK, CA 94565 HARRIS WAYNE S JR & JUDI M HOFFMAN E MICHAEL & SHARON LIST HOROWITZ MARTHA MEAGHER 715 W MAIN ST #103 80 WILLIAMS RANCH DR 115 WILLIAMS RANCH DR ASPEN, CO 81611 ASPEN, CO 81611 ASPEN, CO 81611 JOSEPH MARK C KELLY GARY P KNIGHT DANA ERIC 100 WILLIAMS RANCH DR PO BOX 12356 627 RIO GRANDE PL ASPEN, CO 81611 ASPEN, CO 81612 ASPEN, CO 81611 KOWALICK ROBERT M JR & LAURIE J MORRIS ROBERT P NEW CONSOLIDATED ET AL 27190 LEDGEWOOD CT 600 E HOPKINS AVE STE 304 PO BOX 4067 ROCHESTER HILLS, MI 48306 ASPEN, CO 81611 ASPEN, CO 81612 NEW CONSOLIDATED ET AL NEW CONSOLIDATED ET AL OWEN KEVIN PO BOX 4067 PO BOX 4067 PO BOX 1518 ASPEN, CO 81612 ASPEN, CO 81612 ASPEN, CO 81612 PARKER ALEC J PARKER JACQUELINE A POPISH KIM & DOMINIC 120 WILLIAMS RANCH DR 50 WILLIAMS RANCH DR PO BOX 434 ASPEN, CO 81611 ASPEN, CO 81611 ASPEN, CO 81612 SHANDLING MICHAEL A & ANTOINETTE REYNOLDS SHEILA B SCHAEFER TERRY A 1279 LAKE WORTH LN 117 S SPRING ST STE 101 401 E HYMAN AVE NORTH PALM BEACH, FL 33408 ASPEN, CO 81611-2068 ASPEN, CO 81611-2903 - U SIMMONS GREGORY T SPARKS CYNTHIA S SUTHERLIN-MARTIN LTD 295 SILVERLODE DR PO BOX 3056 3616 MAPLEWOOD AVE ASPEN, CO 81611 ASPEN, CO 81612 DALLAS, TX 75205 TIMROTH GRANT WAMPLER MIKE & SANDY WENDEL GERALD TIMROTH ALBERT G C/O 465 N MILL ST STE 19 201 SILVERLODE DR PO BOX 89 ASPEN, CO 81611-1588 ASPEN, CO 81611 ASPEN, CO 81612 WILKINSON GEORGE MARSH DBA ECHO WRIGHT & PRUESCH MINING LTD WRIGHT GARY A FILMS WRIGHT GARY -C/0 201 N MILL ST STE 106 PO BOX 4067 201 N MILL ST ASPEN, CO 81611 ASPEN, CO 81612 ASPEN, CO 81611 i,ttle Red Ski #04p , 4* 4* 73 41 '1 1 14 4 ~ *- 2 4 3 A /1.14Â·:.i,1-,:icit 1 888 ./. 417 Red & lire'~6<~ October 25,2003 SENT VIA EMAIL James Lindt ~I<:Ult-Â·,Jt City of Aspen 130 South Galena Street Aspen, CO 81611 Re: Fiscal Impact Mitigation Fee for LRSH Fractional Ownership Development Dear James: This letter shall follow up to our attorneys', Mike Franzmann and Bill Gouger, meeting with Paul Mentor and other staff members with the City on November 4,2003, concerning the above. Further, this shall follow up to our discussions of last week. The Little Red Ski Haus, LLC (LRSH) completed our historic restoration and reopened for business last December 23,2002. The restoration was accomplished under the City's lodge preservation ordinances. As you know, we embraced the full spirit of the City's vision to restore the home to its 1888 origins, which the City recognized by awarding us with an "Honor Award" for our preservation efforts. To accomplish this, our small ownership group expended considerable financial resources in the midst of a financially trying time for the lodging community following the 911 disaster. Needless to say, the 2003 fiscal year has proven to be very challenging and our company has sustained heavy losses. We evaluated our choices, including: (1) Converting the lodge back to the underlying zoning as a single family residence, (2) pursuing the fractional ownership option, " and (3) continuing to run the lodge "as is. Our appraisals for our existing commercial loan established a value as a single family residence at approximately $7 million. The same appraisal determined the "lodge"value to be somewhere 1 of 2 11-13-03 LTR City Aspen Finance RE Impact Fee.doc 118 East Cooper Avenue * Aspen, CO 81611 Phone: 1 (970) 925-3333 * Fax 1 (970) 925-7123 www.littleredskihaus.net * david@littleredskihaus.net ,>4. 4 around $5 million given the then-projected revenues. Since then, lodge rates in Aspen have continued to decline in an effort to push occupancy, resulting in much lower net revenues. Accordingly, we fully expect the appraised value as a lodge to be lower than our appraisal reflects. Notwithstanding the foregoing, we chose to pursue rezoning to secure fractional ownership zoning. This zoning category would prove to meet tile City's lodge preservation goals by avoiding the otherwise inevitable rezoning to a single family residence. We share the City's goal and remain committed to maintaining beds for tourist, but we need your help. Staff evaluated two options, including: (1) continuing to run the lodge for the next 27-plus years versus (2) rezoning of the lodge to fractional ownership. The first option is not feasible for the reasons discussed above. Before our commercial loan balloons in the next several years, we will be forced to rezone the property to a single family residence and pursue a sale to ensure we can service the debt if we fail to secure zoning for the fractional ownership. The proposed mitigation fee of $82,000 compounded by the time, effort. and expense to sell multiple units would reduce our incentive to maintain the bed space of the LRSH versus the relatively easy single sale transaction of a single family home. Respectfully, we request that the City treat our application in a like manner to Dancing Bear and accordingly waive our mitigation fee. If you have any further questions, please, as always, do not hesitate to contact me. You may reach me by calling 1 (630) 768-4782. We look forward to continuing our efforts with the City and to reaching a win-win resolution to maintain the spirit of the lodge preservation ordinances. Than-k you very much for your thoughtful consideration. Very truly yours, [Sent via emaill David R. Fiore Principal Managing Partner DRF:wp ec: Little Red Ski Haus, LLC - Ownership Group Michael P. Franzmann, Attorney at Law 2 of 2 11-13-03 LTR City Aspen Finance RE Impact Fee.doc 1 18 East Cooper Avenue * Aspen, CO 81611 Phone: 1 (970) 925-3333 * Fax 1 (970) 925-7123 www.littleredskihaus.net * david@littleredskihaus.net Exhibit 2a Little Red Ski Haus Fiscal Impact Analysis Of Fractional Ownership Development Pro Forma of Current Operations Going Forward Sales and Lodging Tax Detail 2004 2005 2006 2007 2008 J Direct Sales Avergage Daily Rate $ 200 $ 206 $ 213 $ 219 $ 226 Number ofRooms 13 13 13 13 13 Non-Peak Nights per Year 337 337 337 337 337 Non-Peak Room Nights Available 4381 4381 4381 4381 4381 Occupancy Rate 53% 53% 53% 53% 53% Non-Peak Room Nights Rented 2322 2322 2322 2322 2322 Non-Peak Rental Revenue $ 464,386 $ 478,782 $ 493,624 $ 508,927 $ 524,703 Avergage Daily Rate - Peak Nights $ 275 $ 284 $ 292 $ 301 $ 311 Number ofRooms 13 13 13 13 13 Peak Nights per Year 28 28 28 28 28 Available Peak Room Nights Available 364 364 364 364 364 Occupancy Rate 100% 100% 100% 100% 100% Peak Room Nights Rented 364 364 364 364 364 Peak Revenue 100,100 $ 103,203 $ 106,402 $ 109,701 $ 113,102 Total Annual Rental Revenue 564,486 581,985 600,027 618,627 637,805 Sales Tax Rate 2.20% 2.20% 2.20% 2.20% 2.20% Lodging Tax Rate 1.00% 1.00% 1.00% 1.00% 1.00% City Portion of County Sales Tax Rate 0.90% 0.90% 0.90% 0.90% 0.90% Sales Tax Due from Room Rentals 12,419 12,804 13,201 13:610 14,032 Sales Tax Due from Restaurant 1,210 1,248 1,286 1,326 1,367 Total Direct Sales Tax Due 13,629 14,051 14,487 14,936 15,399 Lodging Tax Due 5,645 5,820 6,000 6,186 6,378 City Portion of County Sales Tax Due 5,080 5,238 5,400 5,568 5,740 Indirect Sales Tax Non-Peak Room Nights Rented 2,322 2 322 2,322 2,322 2,322 Peak Room Nights Rented 364 364 364 364 364 Total Room Nights Rented 2,686 2,686 2,686 2,686 2.686 People per Room 2 2 2 2 2 Average Spending Â·per Day (per Aspen Finance Director) $ 137 $ 141 $ 146 $ 150 $ 155 Total Indirect Spending $735,945 $758,759 $782,281 $806,531 $831,534 City of Aspen Sales Tax Rate 2.20% 2.20% 2.20% 2.20% 2.20% City Portion of County Sales Tax Rate 0.90% 0.90% 0.90% 0.90% 0.90% Indirect Sales Tax 16,191 16,693 17,210 17,744 18,294 City Portion of County Indirect Sales Tax Due 6,624 6,829 7,041 7,259 7,484 Exhibit 2b Little Red Ski Haus Fiscal Impact Analysis Of Fractional Ownership Development Sales and Lodging Tax Detail 2004 2005 2006 2007 2008 ~ Direct Sales Avergage Daily Rate $ 200 $ 206 $ 213 $ 219 $ 226 Room Nights Available to Rent - beg of year 4,032 3,171 2,091 1,041 1I1 Room Nights Available to Rent -end of year 3,171 2,091 1,041 111 Average Room Nights Available to Rent' 3,602 2,631 1,566 576 56 Occupancy Rate 53% 53% 53% 53% 53% Projected Rooin Nights Rented 1,909 1,394 830 305 29 Projected Room Revenue $ 381,759 $ 287,531 $ 176,447 $ 66,912 $ 6,647 Peak Week Room Nights Available' 336 336 336 336 336 Peak Week Average Daily Rate 275 $ 284 $ 292 $ 301 $ 311 Peak Week Projected Revenue $92,400 $95,264 $98,218 $101,262 $104,401 Total Room Revenue $474,159 $382,796 $274,665 $168,174 $111,049 Sales Tax Rate 2.20% 2.20% 2.20% 2.20% 2.20% Lodging Tax Rate 1.00% 1.00% 1.00% 1.00% 1.00% City Portion of County Sales Tax Rate 0.90% 0.90% 0.90% 0.90% 0-90% Direct Sales Tax from Restaurant 1,210 1,248 1,286 1,326 1,367 Direct Sales Tax $10,431 $8,422 $6,043 $3,700 $2,443 Total Direct Sales Tax $11,641 $9,669 $7,329 $5,026 $3,810 Lodging Tax 4,742 3,828 2,747 1,682 1,110 City Portio,n of County Sales Tax 4,267 3,445 2,472 1,514 999 Indirect Sales Total Room Nights Available 4,032 4,032 4,032 4,032 4,032 Average Room Nights Available to Rent 3,602 2,631 1,566 576 56 Average Room Nights Sold to Fractional Owners 431 1,401 2,466 3,456 3,977 Occupancy Rate 85.00% 85.00% 85.00% 85.00% 85.00% Occupied Nights 366 1,191 2,096 2,938 3,380 People per Room 3 3 3 3 3 Average Spending per Day (per Aspen Finance Director) $152 $157 $162 $167 $172 Indirect Spending from fractional ownership $166,896 $559,932 Sl,015,953 $1,468,225 $1,741,471 City of Aspen Sales Tax Rate 2.20% 2.20% 2.20% 2.20% 2.20% City Portion df County Sales Tax Rate 0.90% 0.90% 0.90% 0.90% 0.90% Indirect Sales Tax from Fractional Ownership Development $ 3,672 $ 12,319 $ 22,351 $ 32,301 $ 38,312 City Portion of County Indirect Sales Tax 1,502 5,039 9,144 13,214 15,673 Occupied Nights 2.245 1,730 1,166 64I 365 People per Room 2 2 2 2 2 Average Spending per Day (per Aspen Finance Director) $137 $141 $146 $150 $155 Indirect Spending from unit rental $615,074 $488,836 $339,593 $192,564 $113,128 City ofAspen Sales Tax Rate 2.20% 2.20% 2.20% 2.20% 2.20% City Portion of County Sales Tax Rate 0.90% 0.90% 0.90% 0.90% 0.90% Indirect Sales Tax from Unit Rentals $ 13,532 $ 10,754 $ 7,471 $ 4,236 $ 2,489 City Portion of County Indirect Sales Tax 5,536 4,400 3,056 1,733 1,018 Total Indirect Sales Tax 17,203 $ 23,073 $ 29,822 $ 36,537 $ 40,801 Total City Portion of County Indirect Sales Tax 7,038 9,439 12.200 I 4,947 16,691 ' Calculation subtracts room nights sold to fractional owners during year based upon sales plan ' LRSH plans to hold back 4 weeks per yearper room from fractionsl ownership use to rent entire lodge to groups Exhibit 4a Little Red Ski Haus Fiscal Impact Analysis Of Fractional Ownership Development Real Property Tax Summary Little Red Ski Haus as Hotel Property Tax Forecast 2004 2005 2006 2007 2008 Real Property Taxes Value of Land 787,500 787,500 787,500 811,913 811,913 Value of Improvements 3,237,882 3,237,882 3,237,882 3,338,256 3,338,256 Commercial Improvements 510,944 510,944 510,944 526,783 526,783 Total Value(1) 4,536,326 4,536,326 4,536,326 4,676,952 4,676,952 Property Tax Revenue Estimated Assessed Value 468,634 468,634 468,634 483,162 483,162 Pitkin County Millage Rate 29.738 29.738 29.738 29.738 29.738 Property Taxes 13,936 13,936 13,936 14,368 14,368 Property Tax due to the City of Aspen(2) 2,531 2,531 2,531 2,609 2,609 LRSH Fractional Ownership Development Property Tax Forecast 2004 2005 2006 2007 2008 Real Property Taxes Value of Land 787,500 787,792 788,377 813,722 814,931 Value of Improvements 3,237,882 3,239,084 3,241,489 3,345,697 3,350,665 Commercial Improvements 510,944 511,134 511,513 527,957 528,741 Total Value(1) 4,536,326 4,538,010 4,541,379 4,687,377 4,694,337 Property Tax Revenue Estimated Assessed Value 468,634 468,808 469,156 484,239 484,958 Pitkin County Millage Rate 29.738 29.738 29.738 29.738 29.738 Property Taxes 13,936 13,941 13,952 14,400 14,422 Property Tax due to the City of Aspen(2) 2,531 2.532 2,534 2,615 2,619 (1) Value of LRSH as Fractional Ownership Development conservatively detennined based upon average per square foot value of condominium sales in a 2 city block area surrounding LRSH during 2000-2002, data supplied by the Pitkin County Assessor's office. (2) Projected mill rates based upon 2002 rates - Pitkin County 29.738 per $1,000 value, City ofAspen portion 5.401 per $ 1,000 value, or 18.16% oftotal property tax Mitigation Fee Calculation Application of AMC 26-590-070 to Little Red Ski Haus Application Annual Negative Expected Life Adjustment 2008 2008 Annual Effect of Fractional for Future Tax Description Existing Proposed to City Improvement Value TOTAL FEE Sales Tax -Direct $13,156 $3,255 $9,900 Sales Tax - Indirect $15,629 $34,857 County Sales Tax - Direct $4,904 $854 $4,050 County Sales Tax - Indirect $6,394 $14,260 Total Sales Tax $40,082 $53,226 $0 27.50 3.10% $0 Lodging Tax J le) - L- - ~ JAMS,1 $5,449 $949 $4,500 27.50 3.10% $82,471 - FRFT ArÂ· Real Estate Transfer Tax $0 $17,981 $0 27.50 3.10% $0 Property Tax $2,229 $2,237 $0 27.50 3.10% $0 Total Recommended Fee: $82,471 I ./ CITY OF ASPEN Current Ownership Tax Mitigation Fee Calculation BLUE = Data entry cells GREEN = Net Present Value ainounts by year BOLD = Totals and Averages Projected Collections from Existing Operatiors Projected Collections from Proposed Operations Projected Projected 2001 20{15 2006 2002 2008 Average AMÂ£!Age 2004 2005 2006 2007 2flÂ® Projected Collections Sales Tax - Direct $13,629 $14,051 $14,487 $14,936 $15,399 $14,500 $7,495 $11,641 $9,669 $7,329 $5,026 $3,810 Sales Tax - Indirect $16,191 $16,693 $17,210 $17,744 $18,294 $17,226 $29,487 $17,203 $23,073 $29,822 $36,537 $40,801 County Sales Tax - Direct $5,080 $5,238 $5,400 $5,568 $5,740 $5,405 $2,540 $4,267 $3,445 $2,472 $1,514 $999 County Sales Tax - Indireci $6,624 $6,829 $7,041 $7,259 $7,484 $7,047 $12,063 $7,038 $9,439 $12,200 $14,947 $16,691 Lodging Tax $5,645 $5,820 $6,000 $6,186 $6,378 $6,006 $2,822 $4,742 $3,828 $2,747 $1,682 $1!110 Real listate Tratisfer Tax $0 $0 $O $O $O $O $19,908 $14,760 $16,300 $19,850 $25,350 $23,280 Property Tax $2,531 $2,531 $2,531 $2,609 $2,609 $2,562 $2,566 $2,531 $2,532 $2,534 $2,615 $2,619 Net Present Value of Projected (Follections NPV Factor 96.90% 93.90% 9099% 88.17% 85.43% 100.00% 100.00% 96.90% 93.90% 90.99% 88.17% 85.43% Sales Tax - Direct $13,206 $13,194 $13,181 $13,168 $13,156 $13,181 $6,943 $11,281 $9,079 $6.668 $4,431 $3,255 Sales Tax - Indirect $15,689 $15,674 $15,659 $15,644 $15.629 $15,659 $26,508 $16,670 $21,665 $27,134 $32,213 $34,857 County Sales Tax - Direct $4,923 $4,918 $4,913 $4,909 $4,904 $4,913 $2,361 34,135 $3,235 $2,249 $1,334 $854 Coulity Sales Tax - Indirect $6,418 $6,412 $6,406 $6,400 $4394 $6,406 $10,844 $6,820 $8,863 $11,100 $13,178 $14,260 t.odging Tax $5,470 $5,465 $5,459 $5,454 $5,449 $5,459 $2,624 $4,595 $3,594 32,499 $1,483 $949 Real Estate Transfer Tax $O $O So $0 $0 $0 $17,981 $14,302 $15,305 $18,061 $22,350 $19,889 Properly Tax $2,452 $2,376 $2,303 $2,300 $2,229 $2,332 $2,336 $2,452 $2,377 $2.305 $2,306 $2,237 If . --1-.\,VIQI /Â«-)3 am R. Gougdr JD, CPA (CPA Inactive) Gougar &, Michael P. Franzmann JD, LLM, CPA Robert J. Hooke JD, MA FraI]Zmann, LLC Lori C. Pappas JD, LLM* jeffrey C. Keiffer JD, CPA (CPA Inactive) Attorneys & Counselors at Law *Also Admitted in Ohio FRACTIONAL OWNERSHIP DEVELOPMENT PROPOSAL Submitted by Goug6r & Franzmann, LLC Attorneys and Counselors at Law on behalf of LITTLE RED SKI HAUS, LLC TAXATION ' ESTATE PLANNING ' BUSINESS LAW ' REALESTATE 400 Inverness Parkway, Suite 250 â€¢ Englewood, CO 80112 â€¢ Phone 720-266-1040 â€¢ Fax 720-266-1041 â€¢ www.GF1awfirm.com 1 1 7 ATTACHMENT 2 -LAND USE APPLICATION APPLIC.ANT: Name: Little Red Ski Haus, LLC Location: 118 E. Cooper Avenue, Aspen, CO 81611 ( Indicate street address, lot & block number. legal description where appropriate) Parcel ID # (REQUIRED) REPRESENTATIVE: Narne: Michael P. Franzmann, Esq. Address: 400 Inverness Parkway, STE 400 Englewood, CO 80112 Phone #: (720) 266-1040 PROJECT: Name: Little Red Ski Haus - Timeshare Development Address: 118 E. Cooper Avenue, Aspen, CO 81611 Phone #: (970) 925-3333 TYPE OF APPLICATION: (please check all that apply): U Conditional Use U Conceptual PUD E Conceptual Historic Devt. Special Review E Final PUD (& PUD Amendment) E Final Historic Development Design Review Appeal E Conceptual SPA E Minor Historic Devt. GMOS Allotment E Final SPA (& SPA Amendment) E Historic Demolition GMQS Exemption U Subdivision E Historic Designation ESA - 8040 Greenline. Stream E Subdivision Exemption (includes E Small Lodge Conversion/ Margin. Hallam Lake Bluff, condominiumization) Expansion Mountain View Plane E Lot Split U Temporary Use E Other: Timeshare U Lot Line Adjustment U Text(Map Amendment EXISTING CONDITIONS: (description ofexisting buildings, uses, previous approvals. etc.) Ciirrently operated as an historical bed & breakfast lodging establishment PROPOSAL: (description of proposed buildings. uses, modifications, etc.) Conversion of lodge to timeshare development Have you attached the following? FEES DUE: S .2, 725- Â® Pre-Application Conference Summary Â® Attachment #1, Signed Fee Agreement '9% Â® Response to Attachment #3. Dimensional Requirements Form E Response to Attachment #4, Submittal Requirements- Including Written Responses to Review Standards All plans that are larger than 8.5" x 11" must be folded and a floppy disk with an electronic copy of all written text (Microsoft Word Format) must be submitted as part of the application. U o El 01 El . ,~*22~ :1 . A- 1 Â· iÂ·,~4 i,fo. 4... . : *,11; C 7~yi:.24.2.-. E.3' :1# 11';. 1,~ w.,Â·. j-,4- 0.~ Â·-Â·Â· ,15-1.' .;:=A Â· ~Â·t ," -1,i'!:'12,~ .Â· Â·.4='~-2.+ 2 Â·Â·, j>..1- ..i.i--e-frML-:* WELLS FARGO BANK WEST, N.A. 3879 5601 S. Broadway GOUGER & FRANZMANN, LLC Littleton, CO 80121 ATTORNEYS & COUNSELORS AT LAW www.wellsfargo.com 400 INVERNESS PARKWAY, SUITE 250 23-7/1020 ENGLEWOOD, CO 80112 09/30/2003 (720) 266-1040 PAY TO THE City of Aspen ~ **2,585.00 ORDER OF Two Thousand Five Hundred Eighty-Five and 00/100 ***********************************************************************4 DOLLARS City of Aspen 130 South Galena Aspen, CO 81611 /4 Fff 2 -4 h MEMO - Little Red Ski Haus ... 1.... e~ lt,'.id-~2.~4;AÂ·'-41 Â·' tat,2.,W:1. 1, 12 '.Â· tm: 2 Â·.~' Â·Â·1,;-Â·~1'-q= ~Â·: 1' *t jt'i'Â·Â©*Â¢*-.f'~.,f--1: -342.~--'-72r"P~9 0*'â‚¬~. *00 38 79* I: 10 20000 7 Gl: 2 2 G80 1 68 4 34 September 29,2003 Little Red Ski Haus, LLC 118 E. Cooper Av enue Aspen, CO 81611 James Lindt City ofAspen 130 S. Galena Street, 2nd Floor Aspen, CO 81611 RE: Little Red Ski Haus, LLC Timeshare Development Application Dear Mr. Lindt: This letter is submitted in satisfaction of requirement number 3 under the City of Aspen Pre- Application Conference Summary pertaining to the above referenced applicant. The applicant hereby designates the following as its representative authorized to act on behalf of the applicant: Gougdr & Franzmann, LLC Attorneys & Counselors at Law 400 Inverness Parkway, STE 250 Englewood, CO 80112 (720) 266-1040 Please find the required information pertaining to the street address, legal description. and recorded title documents attached hereto as Exhibit A. Sincerely yours. Little Red Ski Haus. LLC By: DavicfR.~ore, its managing member DRF Enclosures 6 A. I A,- a , , I ./#/' --/t,A- 1, 4 A 4 #- U *6.73/7 1 L D'(481, iii-- 57. -, ... 1 + I lili - title of aspen ORNERSHIP AND ENCUMBRANCE REPORT Order No.: 41916 Prepared For: STEWART TITLE OF ASPEN, INC. HEREBY CERTIFIES from a search of the books iii this office that title to. Lot 0 and the West one-half of Lot P, Block 69, CITY AND TOWNSITE OF ASPEN. COUNTY OF FITKIN, STATE OF COLORADO. situated in the County of Pitkin; State of Colorado, appears to be vested in the name of: LITTLE RED SKI HAUS, LLC and that the above described property appears to bÂ¢ subject to the following liens: 1. A Deed of Trust dated December 20, 2001, executed by Little Red Ski Haus, LLC to the Public Trustee of Pitkin County, to secure an indebtedness of $ 1,200,000.00, in favor of Hinsbrook Bank and Trust, recorded December 20, 2001 as Reception No. 462100. ' NOTE Assignment of RentS recorded December 20, 2001 as Reception No. 462101 given in connection with the above Dced ofTrust. 2. A Deed of Trust dated December 20, 2001, executed by Little Red Ski Haus, LLC to the Public Trustee of Pirkin County, to secure an indebtedness of $300,000.00, in favor of Marjorie Babcock, formerly known as Marjorie Babcock Riley, Trustee under that Unrecorded Living Trust Agreement Dated November 9 1988, recorded December 20, 2001 as Reception No. 462102. NOTE: Subordination Agreement recorded July 15, 2002 as Reception No. 469847. 3. A Mortgage dated April 12, 2002, executed by Little Red Ski Halls, LLC, to secure an indebtedness of S900,000.00, in favor of Hinsbrook Bank and Trust, recorded July 15, 2002 File Number: 41916 SÂ©van Title ot-Aspen, Inc. O & E Repor Page 1 of 2 C-ZWLD- ---'- A.-N ,Â·v, 9/17 ;, 1 V , as Reception No. 469848 NOTE: Assignment of Rents recorded July 15, 2002 as Reception No, 469849 given in connection with rhe above Deed of Trust, 4. Notice Extending Time To File Lien Statement naming lien claimant as Western States Fire Protection Co., recorded April 25, 2003 as Reception No. 481913. EXCEPT any and all taxes and assessments. EXCEPT all easements, rights of way, restrictions and reservations of record. This report does not reflect any ofthe following matters: 1. Bankruptcies which, from date of adjudication of the most recent bankruptcies, antedate the report by more than fourteen (14)years. 2. Suits and judgments which, from date of entry, antedate the report by mom than seven (7) years or until the governing statue of limitations has expired, whichever is the longer period, 3. Unpaid tax liens which. from date of payment, antedate the report by more than seven years. Although we believe the facts stated are true, this letter is not to be construed as an abstract of title, nor an opinion of title. nor a guaranty of title, and it is understood and agreed that Stewart Title of Aspen, Inc., neither assumes, nor will be charged with any financial obligation or liability whatever on any statement contained herein. Dated: September 23,2003 at 8:00 a.m., at Aspen, Colorado STEWART TITLE OF ASPEN, INC. Bv.,f~~~~~ /*Tforized *Sure File NumberÂ· 41910 Stcwart Titic oi .Uper, Inc. O at E Repor Page 2 of 2 -t':F .41.14,21) ''62'.ta~ 4 -0.. ~ 1./4:4'M'.7,13 , a,Al- .- 73Â· ,-U Â« J 'S 49...1 - I ./. '~------ CON 'UMS X9â‚¬h ''.2,I' "Â· .-'' .~.~,~''~~.u ~~'~ , N /7 M . 0 4 --57 Â·, 9 12 Â«Â·- Â·A ...31 ....'-0 - ./4, - ' Â·'k~&/>p,. ..2 40'/ , A.I- I 1 :3~ *~a, 11& 11 . DE ,-- ---1 2,Â·.7 (-1 ,=fl Mici d>* %;lf.... . : I. r I . . 9... A . . 1,Â», n m ~92124.... ..4-1- ..4,1 - f/ -Aul Â· >,1 40. ...0 r z.5, ; 1 9,-A/4 A 1.--~ SNARK ST. 1 4 bâ€¢% S I 4 (3) - - A> 00. 2 1-A - 141.. i . ..,...... . i~ ~- - 'L./.., GILBERT .22.hsk'ers '3'~ifiiÂ».63 .mit<--1. THE ST AEGIS ASPEN i-. 1 -1Â£1 ~11/Chale, 4. ..1 1 . 0 I ...7 1 -63 ., . f. I.Â· , 1#'. -Â· | TELEMARK -leakhouse -4 filft! '- :t.1 ; fT ..1.22 .,Arti U --- Â·Â·.- 'Â· . ,#Â»b. CONOOMINIUMS 4~ 1 . 1 4 174:: , 'ir--2/--FfUERED. i- -27'* JUAN ST. t. . : IeÂ·G'Â· 1 1 rl Â· I , I t... 'E. AZTEC 'JUA " imiliwihi i,niÂ·k ~ 1 1 14.Â» 4 P ::Ne i . -' - AL -,r j tb Â· -2 1 , iskeÂ¥ Rocis -Olives Asierl -'.9 --1- CONOOMINIUMS . .'.-4. f -1,8 El 14 )- 1 11[=,7-. 1 ': * A.2 . . - 4-4 -,ft, 0. i i. 442,Â·A,1.- :,2 , ~1 41.-rvi.:, -- 46-1 |G:-F .Nftla~ :.Â·.30 y,L't .- r 11>,r> -,4 -51Â· 9..2 ~ fA .1 A L ' -27 . 1\ 1 4 AL JUNTAIN CHALET Â·'~~~~_~0~0~~~-- ~~~=1 ------1 ty, The Chart House . LIFT ONE CONOOMINIUMS - _.~ Â·Â·Â·r:8,~.1/ -Â·: .:29â‚¬(2.~ ... *' , r 6 1 10 I. I.J. E $,Mrs W. DURANT AVE. .>A U l.1 : 1- HOTEL , - ~ 4.5.NYP' 4 -.- 4441*4 DURANT ,-4-4,~:. ; 1- 4.2. A,"UWADS- .<9- A- 0 D ,. '4Ak- y. af .4 - Â· h.'\-Â· /1 1, 43&LAÂ¢,Eit21 1 Â£ a -2, 01 1 1331 t r. 'vÂ»Q ' 9 1. LU 0 .; r :A L 31 - ...< ' .Â¢ 23Â·,tliaNUA Â¢ f (1'322)~,iiA & 9,Â£457>~~~Â· 2' ~-A & A. eakdowl'ill#13%4 1 ec Or#wor '4 Â·1~ 1 . I- .- 4 -; X lia,8,34 3NFEN:f Â»' 9 4,1 9 1 7 3 -16 915 ,.4 & 1 -''f.4.Al 1 1.7, A'.1 'i ,"",b'r Prk .....=~X. 4/.ler ./irl t .-$ p.; Cfj '9;Al#, 41 1.2>.4 p:r:F Â·Â·3Â¢=;r~U:11=71 - Â·=U -$ \ {99*45 - / Ilt ,31.1*Al/DE'i: ':3 2 L .,r .aÂ·/ ~ If f- . 14{T'Catk<WNSbUL ffÂ· 1, c 1 W. COOPER AVE. ftly â‚¬ 1-r.' .IMELITE LODGE ~ . 5 210 COOPEF 99â€¢ES ---,9,~ .. Â«.rÂ· 1 ft* ... .1........: \11 ~~ AA. * L fc--Al J iN kha' .,-7.1 12-K=/.i:J . *- I A a .an..11 ill-j Â· ~66:Â· crit. r.iff./72&NIES,flp..Whili ' a- k -12 L.. l;Â· Â» Gu :Ma , 0 - IMexican Flestauranti ./ ,-4 g ' A i <An'a- OROSPECTOR 1, I -0,: i A. 1 Erics Bar LODGE 25 , (14' If. 9 . 0810 â‚¬121, . 'il.., , '' 415;1414 , : . .-tt AaA/'A Al~ . n. 1 - A-V I * + ..3. <1 1 i 7--=4 Rd Je -3- A d - r. ; L ' A + 1 C , 8 611 - :MT:.3 Carie 40-1 4 3 ,)'1'70Â£..~ h.-4,6 ' j'.1,11> 0 ,â‚¬ 1 '4~4: Ton/0 _ AS'en HE SNOWFLAKE INN - . ; * - + W. HYMAN AVE. ER f }PERA WI 4. -Â· . 02/ )R INFO CENTER A'hltrnan Cry'tai Palace .Ataucant=/91 LODGE : :.Indominnurn: , . ~he Mother Lode - - r "'/ 7 HEAATHSTONE 1 --- SHADOW MOUNT~ ST 1-ORITZ LODGE t 2 .Pen I Properties HOUSE . I frm< 1 Â·'~hG 29,- + ~ 2 47491 4 3 %7173 , . a --9 8 41 146 <16 a ea 1 - i 2-1 r-- 1-,f'EAK-li ;...TA . ~-' 4T 1 1 2 "'tty'.9 ,~ /4 fFT; . il.- I . L STREET PLAZA I ,--& . . - 2,0-Â«'~h~ 7 3/.nv -, - .4/ Fine Stationer. T.==l~ 24,444 )A , (431 r * fAit 6 71414 8 415.73 Cache Sistro Goldsmith ~ - . 4,1-â€ž -1 4 Rust,que : 13 ' 1 Y . -- - f Â· The Kids Rare O/tlks | -/*---- -- Â·Â· Bistro m'." /'r" I A t,1 Z ;ip. 1 1 V - I *.I. r,. j.Â· - ;;,44*F:t * ..t.Ii-- OF -1 1% t.:a 4 -Q Â·Â·1:FÂ· 3 2 1: e Â·Â·-4 Â· 1, f. The 1 Â·.t .'Â·RÂ·: 4 lfÂ·.4 . i Ch i.704 1 , 1 1 Â·7 2.1 U h. U â‚¬,; -Â· -- " ' HOTEL _ENADO , . . : , f k.#NU ' Â· ftii 2 2 .1. 0 f.1'6116 hnstopner Wali,na/Aspen Of Grape Amer,can Restaurant & Ear & Grain I'le's~~ona~~;~ .-----.--J - Campo ce Fion - Ren anc- to W. HOPKINS AVE. The Alchemy & Food _ La I Elevation I Z BOOMERANG LOO le/re uocina Restauran! & 90 - distro - A . a 31 9 1.. - -diC Mer:Yv - Â· .fu= 1 /-7 i1 *J kporÂ·,1 ~~,~r~s ~ gml,~storn ~~ * ~ - (9[ pAA ~ laA'Â·Â·J \- / , -I.# 3111'S Collectaoles d :~ U #-2,-351=.Carne,9 ' 091 Poc.v t_'14:Â· '' 4 Â· * 1 J *:4 e,3 2 4 - rqI--1 Mountain Pet Shop Ti-299 4 1 Restaurant pe Miners *rler's Â·intrance to 0-24 L. 9.1 . *b .':.45 anundrum Building Ani,imeb -Nobu Matlwn,ga Asner, Porterâ€¢; - -- ur) ~ t Xplor,â€¢ * 1 Street MOLLY GIBSON - True Value Hardware LODGE ASPEN MOUNTAIN LODGE rhe 311:In 800.sellers 8.ikery I Cafe ;NNSBRUCK IN .AUBEAGE 0' ASPEN 'â€¢lists Ot . listri ~ .tÂ· :fll I Radio ShacK I an' lor/l f ,". I. 01 i ((4 ' The â‚¬ tchen Lort r,ne,an Sisters MIlle Carquest .1~,idicrarts Caroi W. MAIN ST. Â¢OTEL JEROME Jack s roin:s Clinic Pharmacy 001)kin The Eye Care Insitute Asoen Horne .-taurant Real sm'C - i Restaurants lorâ„¢ignment al * SAHOY Orthonaeall Esta[e LODGE CHRISTMAS David j Singer MD. PACS Carrs Pharmacv â€¢~a,n gree~ , Sunin Ie 1 -"e Flpisher HOUSE fiotel Associates I THE r/AOLEAN THE 'leran'urn. Asoen & Gler,wood HOTEL +- , , ll.Ds - .1~ .~ Â·r, ~~~-Cor,Â·,Oany-0-'Â·~-' , ASPEN '~~' Â·â€¢- I=-=--~- A- -I- 2, ' -g7 Ar---4 ! S Â» Â·- 2.- yi 11&LoÂ·:A 1 A ..(632-2| tit~>1.ril i.i k U- 4 4 21.13-222 .LuL:.2- 4/ 12 2.j 7 . 'J J.KNA CH S I t ' CITY OF ASPEN COMMUNITY DEVELOPMENT DEPARTMENT Agreement for Pavment of Citv of Aspen Development Application Fees CITY OF ASPEN (hereinafter CITY) and Little Red Ski Haus, LLC (hereinafter APPLICANT) AGREE AS FOLLOWS: 1, APPLICANT has submitted to CITY an application for Timeshare Development (hereinafter. THE PROJECT). 2. APPLICANT understands and agrees that City of Aspen Ordinance No, 57 (Series of 2000) establishes a fee structure for Land Use applications and the payment ofall processing fees is a condition precedent to a determination of application completeness. 3. APPLICANT and CITY agree that because of the size. nature or scope of the proposed project. it is not possible at this time to ascertain the full extent of the costs involved in processing the application. APPLICANT and CITY further agree that it is in the interest of the parties that APPLICANT make payment of an initial deposit and to thereafter permit additional costs to be billed to APPLICANT on a monthly basis. APPLICANT agrees additional CoSIS may accrue following their hearings and/or approvals. APPLICANT agrees he will be benefited by retaining greater cash liquidity and will make additional payments upon notification by the CITY when they are necessary as costs are incurred. CITY agrees it will be benefited through the greater certainty of recovering its full costs to process APPLICANT'S application. 4. CITY and APPLICANT further agree that it is impracticable for CITY staff to complete processing or present sufficient information to the Planning Commission and/or City Council to enable the Planning Commission and/or City Council to make legally required findings for project consideration. unless current billings are paid in full prior to decision. 5. Therefore. APPLICANT agrees that in consideration of the CITY's waiver of its right to collect full fees prior to a determination of application completeness. APPLICANT shall pay an initial deposit in the amount ofS 2,585 which is for hours of Cominunity Development staff time. and if actual recorded costs exceed the initial deposit. APPLICANT shall pay additional monthly billings to CITY to reimburse the CITY for the processing of the application mentioned above. including post approval review at a rate of S205.00 per planner hour over the initial deposit. Such periodic payments shall be made within 30 days of the billing date. APPLICANT further agrees that failure to pay such accrued costs shall be grounds for suspension of processing, and in no case will building pertiiits be issued until all costs associated with case processing have been paid. CITY OF ASPEN APPLICANT 1 1 .: 90 1 2/ By: By: â€ž.55*522â‚¬' /~- Â·-14,-r,//A, rig Â« -0 -L, Julie Ann Woods ' i rx- 1 + uWy/7 'AA f 614.t Community Development Director Date: M ailing Address: 118 E. Cooper Avenue Aspen, CO 81611 g:\support\forms\agrpayas.doc 1/10/01 9, V .I - r le _ - , Â·-' 9 54 '20,1.1 1. 1 CITY OF ASPEN PRE-APPLICATION CONFERENCE SUMMARY p C ofÂ©qÂ·K, r-n . w 9 21 1 vâ€¢ 1 2.1 ' ), -1. James I,indt, 920.3095 1 i' ri . 1 . 1 '0 A. Lirtic Red Ski 142.113 Timeshare REPHES222 1 A : [VE: OWNER, Davjd Fic.re TYPE Of APPWCATION: Fi[UCSUre, Lodge Pres,=-VALion PUD .Ainendment. Subdivision. GN'{QS Excinplicti tor Lodge Preserveloli DESCRIP'i~ION. hi unier to tilliesture che axisting I.ittk ked Ski liaus, a PUD amendinem ha; :o be requcsted m con.lunclign Â·.pith tile Cilineshare upplication. However, the recently approved thnuticre provisions @ct:brlb Cuc a PUD review for a proper.7 (hat is zotled LP shall be crouct,ped us a r.~o-step revieÂ·,iÂ· .with a public hearing at P &2 and one al City Council, The Eatid use actions th:u are rcquired to be associated w:t], a zimeshzirc review arc Rubdivision, a coLisolidated PUD rev jew. and a GNICS Exemption for Lodge PreÂ·scrvation, Land Use Code Section(s; 26-590 Thneshare Development 26.470 Growth Management Quota Systern- Exemption for Lodgc Preservation 26.480 Subdivision 23.445 Plannec Unit Development ReyJc'.Â·,- h>'i Etc fF f.ir Coinpjete Application: D,velopment Review Committee for technical cor.siderations. P 1 Z for recommendalion, Ck> 13<luile'll for final decisloo. Public 1 i caring: r ei. 1: P i Z, and Council ind Reading of Ordinance, Referral .45':ncity. Moll.mug, Finalic:, Buildlity: Fire. mid Fagineeriug, 2!,annillu FCCS' ?lail: ilitg Deposit $2405 Rweri'al .Vericv Fecs' Moilsile 5.1,90 Tout Deoosit-. S2535 To apply. submit the following information: '0 1. City of Aspeii [,aild Use Applic:tion Form. - . 9 Focal Deuos k for re,,w,v Of lipplication. ./ .. ApipilianC A Dame. -,4.4 ess .i:lt tej ephene number. colitailled 1.v im in a letICT si g n ed by 1.li c al}p l icant stati tig the Liame. iddzÂ·:53, and telecholls lizimber of the r:presentittiÂ·,e authorized to act on bcitalf of the applicant, Stree[ acdress arld legli des::iption othhe parcel on which deve[Oprliect Is proposed tc ocr.ilr. consisling ofa current ce,tifir:ate f[0.111 It :L[i d irls,LI:m ce Comparly, or attorney W:ensed ta practiCC :(1 the Staic of Colorado; listing tile nallics ol .ill o':vi:crÂ·; c; che property, ar.d al] tr'.0Itgages, ludgments, lions, cascments. contracts and agrcemelits R Â£['i:cting :he parcel, And demons:ratilig the owner' s right te apply for t.lie Dev 5 loproell: Applic:uion, Total deposit for review :,f the applicarion, 3, An 3 1/2" 117 1[" vic,nicy map locating the paruel Â·Within me Chv of Aspen. c. Signed fee agreement. ///--1 Ple-Â·4)olicalion Cal:ferellce luminarv. 1.1111:Sharâ‚¬ 44. pplkation Contents (alt:ubcd) as set Mith m Larld use Code Sestiort.26.390,021,2 9 A Site improvelnent zurvey thar illcludes all existing aild p:cposed nan,ral and marl-made site {EXI.tires. 10. A detailed descriptiez atid flt'J platiof the proposed lorc.xisting dimensional requirements if jusitimesharing an existing lodge> debeionment, il. A 'wrillen de.icriptjoc of the proposal and a wi ll:Â¢11 explailatiof'l cf hoÂ·.v a proposed developillerit COmplic= ivith the Applicable n:view Btandart. f ailached) rekvantzo trie devulopil-Unt-evic'&'s (Tim~=c. PUD. Subdivision. OMOS Exe:noliur tor Loilze Preserv-anon) required. ' 2 4 CDO:Â· qif tlic recorticd LOCirment: chat offect t]1c Proposed clevelopinent. 13, Proof ot ouÂ·nershie. 1 1.-- .41~ 0.1. 3 1'.'.:2 k , .9 1 [1.1 1 6 -3 35 4 0542 F 1 . '1 4, .1 & 1 4 -V r i 14 List of 41(liacc[1[ properl>Â· owllers within 3007 for pubjlc hearlil@, The GTS deparrment can provide ihia ll,st ori lilling labels for asmall fee. 920..5453 l.5. ZiCopies <,t the comÂ·ple[e application packec (items 1-12), Stittfrecommends thal the appficant slibmit one cnpy of di: appliciaon For complet,ness raview prjor to Subol teng Lile reroainder o f the copie-5, 16. Applicationg shall ba cAridad m paper format (nwnber ofcopiÂ¢s no[ed above) as well as :hc text only un either ofille folli:wing digital formats. Conipact Di-sk (CD)-p,-uferred, Zip Disk or Floppy Disk. Micro. ott Word formot ~ prcierred. '1'exr formar easily convÂ·ertibie m Word is acceptabie. Pri,<cÂ»- App 5. C'be Plinner re,lews agr.]LCArion for câ€¢,mple[2:tess. The Cate Planner {hen relcu the application co the Devejopmettr R.:vi:w Commilice fur leÂ·choical conside:arlous- Case Planner subsequently- tz.kes the applicatton [O che w ec.<17 Aaff nleeting to emblish a A t a ff iccum i nenda ti o 1 -: . 141 b l :, c h e a r i n g d a t e s o r e t h e ll 2Ksigned by Mt: DeyuLy Di rector of Community Divelopment in conj inction wich the Case Plailner. A puplic hearilty is held before the Planning and Zonill* Commission Co establish the Coinni,u,siuit s reconliticl.da::en co City Council regarding the Tiniesharu Dev:lopment, Lodge Preservt,tion PUD Airieiirimelit, and Subc',râ€ž:sion portoris of rbe apoll::dort. A F.rst alld Second Reading I,Public Hearic~g) ofille Orainanct: LS thznreviewed by Ciry Council for a tina: de:isic:1, [f th: appll'c:Drion t': Approved, tbe applicantwi]111719 to prefirc a FIJD''CondomlniÂ·.1,11 Flil[ for record:!61Jn a :hc Pltkin Cour. ly (2 !21Â· k :cd Recorders. DErÂ£:ilmci . Thu tor:going Jummary ]S odvison' in nacur= oniy and 15 not hinding on ttle City, ThÂ¢ summary is bued !1[1 Current zoning. which is subject [li change til illi: fiL[Lin, and upon factual represeniations that may or may not be acce,rate. The summary does not creutti .3 ~egal or .Â·ested rtglit. . FRACTIONAL OWNERSHIP DEVELOPMENT PROPOSAL Submitted by Goug,jr & Franzmann, LLC Attorneys and Counselors at Law on behalf of LITTLE RED SKI HAUS, LLC Section I Introduction Little Red Ski Haus, LLC (the "Applicant") currently operates an historic bed and breakfast lodging establishment (the "Lodge") located prominently at 118 East Cooper Avenue in the City of Aspen. Managed by Western Peak, LLC, the Lodge was recently recognized by the Aspen Historic Preservation Commission in their 14th Annual Honor Awards. This honor was bestowed as the result of significant renovations, with the purpose of maintaining the Lodge as an economically feasible lodging establishment and to preserve the historical status of the building as an Aspen mainstay. This proposal is being submitted to the Aspen City Planning Committee and City Council for approval to amend the Existing PUD approved in 2002 as necessary to convert the Lodge from a traditional bed and breakfast operation to a condominium based plan of Fractional Ownership (the "Plan"). If this Plan is approved, the Applicant will comply with ali requirements to subdivide the Lodge to a fractionalized condominium timeshare operation. In addition to the information included in the Land Use Application to which this proposal is a part, this proposal describes the details of the Plan and its conformance to the requirements of Title 26 of the City of Aspen Municipal Code. The Applicant believes that this proposal meets the standards and requirements for a timeshare lodging development plan, and also meets the spirit and intent o f the procedures and standards established by the City of Aspen for providing for the protection of the character of Aspen as a unique resort community, and for promoting increased tourism and vitality within the City and for protecting the economic viability of historic lodges within the Aspen Community. Specifically, the Plan for the Lodge will help to implement the goals and achieve the public purposes of the Aspen Area Community Plan by increasing vitality, preserving and enhancing lodging inventory, upgrading the quality o f accommodations, and maintaining community character. Section II Timeshare Use Plan 2.1 Description. The proposed Plan of Fractional Ownership contemplates five classes of Units to be established within the Lodge. These classes of Units differ by the size and floor plan of the Unit, the number of Fractional Ownership Interests, and the number of weeks allocated to each Fractional Ownership Interest. A summary o f the classes o f Units is set forth below: Number of Description Number of Number of Weeks Units Fractional Allocated to Each Ownership Interests Fractional Available Per Unit Ownership Interest 1 Luxury Suite 12 4 3 Executive / Family 12 4 3 Historic King 12 4 3 Standard King 12 4 2 Bunk Rooms 24 2 In total, there will be a maximum of 168 Fractional Ownership Interests created of which 1549 -r. will be available for sale to the public, with the remaining 14 units being reserved for Little Red Ski Haus. LLC. Certain peak season weeks such as Christmas, New Year, Winter X-Games, Wine and Food Festival. and HBO Comedy Weekend are also likely to be initially reserved from sale in order to accommodate public usage of the Lodge. Each purchaser will be buying a Fractional Ownership Interest for a specific Unit which will allow for the exclusive use of such Unit on a "floating" basis. In general, it is anticipated that Fractional Ownership Interests which carry four week allotments will allow the purchaser use of the Unit for one week during each of the four seasons. For Fractional Ownership Interests which carry a two week allotment it is anticipated that the purchaser will have use of the Unit for the summer and winter seasons or the spring and fall seasons. It is currently proposed that available Fractional Ownership Interests will be offered for sale in three phases. The cost of the various Fractional Ownership Interests will differ based upon the size and quality of the Unit. the number weeks allocated to the Fractional Ownership Interest, and the phase in which the Fractional Ownership Interest in sold. Overall, it is anticipated that the average price of a Fractional Ownership Interest will be approximately S118,890. A program will be established to allow Owners of Fractional Ownership -Interests to rent such interests at affordable rates to the public at such times when the Owners are not using them. Although not initially, it is also possible that in the future, Owners of Fractional Ownership Interest will be able to exchange their allotted weeks with Owners of Fractional Ownership Interests in other exclusive resort communities. 2 , Section III Compliance with Characteristics of a Timeshare Lodge Development The Lodge, as a timeshare lodge development, will incorporate all mandatory physical and operational features required by Section 26.590.060 of the City of Aspen Municipal Code, as well as some of the physical and operational features that are typically found in lodges in Aspen. Additionally, the Lodge will operate in a manner similar to a traditional lodging establishment when the Owners are not using their Fractional Ownership Interests. 3.1. Mandatorv Phvsical Elements. (a) The Lodge will have a staffed on-site front desk, located within a lobby that is sized to meet the needs of the Lodge. The size of the lobby will be approximately 500 square feet, and is typical for similar sized lodging establishments in Aspen. The staffed front desk will be open at a minimum during regular business hours and will be managed to provide full time registration and reservation services, including provision for late check-in and for other off-hours guest needs. The front desk also will accommodate walk-in rentals. (b) The Lodge will contain the following recreational facilities and other amenities to serve the occupants, including facilities that may be used in the winter and the summer seasons: - .B â€¢ Heated Jacuzzi Spa â€¢ On Premises Food and Beverage Service Facility â€¢ Housekeeping Service â€¢ On Premises Laundry â€¢ On Premises Temporary Storage (skis, boots, etc.) (c) The extent of the facilities will be proportional to the size o f the Lodge, utilizing approximately 1,250 square feet o f the Lodge or approximately 18% percent of the total area of the Lodge. The extent of the facilities at the Lodge is similar to other comparable lodging establishments in Aspen. The type of facilities will be consistent with the planned method and style of operation ofthe Lodge. 3.2 Mandatorv Operational Practices. (a) The Lodge will include all of the mandatory practices in its operation, including the following: (i) Units subject to Fractional Ownership shall be made available for short- term rental when the Unit is not being used by the Owner, the Owner's guests, or persons occupying the Unit under an exchange program. Units that are available for rental shall be listed at competitive rates in a recognized central reservation system in Aspen and otherwise promoted through the Managing Agent. 3 (ii) The covenants of the Condominium Association shall permit walk-in rental of Units. The Association will not limit rental of Units to such arrangements as only weekly rentals or Saturday-to-Sunday rentals; instead the Condominium Association shall permit shorter stays, split-week rentals, and similar flexible arrangements. (iii) Owners of Fractional Ownership Interests shall be required to reserve their U-nit/time sufficiently far enough in advance to enable the public to obtain access to those Units that are not being utilized. (iv) The Owner of a Fractional Ownership Interest shall not be permitted to occupy that Unit for any period in excess of thirty (30) consecutive days. (v) The Units that remain in the Applicant's inventory shall be made available for rental to the public while the Fractional Ownership Interests are being sold, except for Units that are needed for marketing or promotional purposes. 3.3 Optional Operational Features. (a) While the Lodge will meet all of the mandatory operational practices, the Lodge will also meet or is considering the following optional operational features: (i) Units will be subdivided into more than ten (10) Fractional Ownership Interests per Unit. (ii) The Lodge may design the development as a mixed project, which includes not only Fractional Ownership Units, but also some Units that would continue to be owned and operated by the Applicant and its successors or assigns as traditional lodge Units. As further described in this document, the Applicant may also consider not selling all of the Fractional Ownership Interests in every Unit, but to instead keep some Fractional Ownership Interests in inventory for rental to the public at market rates during both the high seasons and the off-seasons. Section IV Summarv of Disclosure Statement and Timeshare Instruments 4.1 Disclosure Statement. (a) Below is a summary of the Disclosure Statement that will be filed in full at the appropriate time. 03 Developer: Little Red Ski Haus, LLC. The principal place of business of the Developer is 118 East Cooper Avenue, Aspen, Colorado 81611. The Developer has owned the Lodge for nearly two years. The Developer recently 4 undertook and supervised the dramatic award winning renovations of the Lodge. The present financial condition of the Developer is sound. (ii) Managing .Agent. Western Peak, LLC. The principal place of business of the Managing Agent is 118 East Cooper Avenue, Aspen, Colorado 81611. David R. Fiore is the managing member of Western Peak, LLC. The Managing Agent currently manages the Lodge and has done so for 1 year. Additionally, Mr. Fiore has developed many other real estate projects over the past 7 years. (iii) Marketing Entity: To be submitted with Final Disclosure Statement. [It is anticipated that the Fractional Ownership Interests will be marketed via reputable and licensed brokers located locally in Aspen and throughout other major metropolitan areas]. (iv) Description of Timeshare Units: To be submitted with Final Disclosure Statement [Generally, there are five classes of Units in the Lodge; differing by the size and floor plan of the Unit, the number of Fractional Ownership Interests, and the number of weeks allocated to each Fractional Ownership Interest. There is 1 Luxury Suite Unit with 12 Fractional Ownership Interests per Unit, 3 Executive/Family Units with 12 Fractional Ownership Interests per Unit, 3 Historic King Units with 12 Fractional Ownership Interests per Unit, 3 Standard King Units with 12 Fractional Ownership Interests per Unit. and 2 Bunk Room Units with 24 Fractional Ownership Interests per Unit. Each Fractional Ownership Interest is allotted four weeks o f non-consecutive usage except for the Bunk Room Fractional Ownership Interests which are allotted two non- consecutive weeks of usage. In total, there are a maximum of 168 Fractional Ownership Interests created. Please note that the Developer has completed all buildings, Units and amenities. and Units will be available upon approval of the Plan]. (v) Condominium: To be submitted with Final Disclosure Statement. [The Plan contemplates recordation of Condominium Declarations in accordance with the provisions ofthe Colorado Common Interest Ownership Act]. (Vi) Restraints on Transfer: To be submitted with Final Disclosure Statement. [It is anticipated that for any Owner of a Fractional Ownership Interest desiring to sell such Interest. and for so long as the Developer has Fractional Ownership Interests to sell in the Project, the Applicant shall have the right of first refusal to purchase the Fractional Ownership Interest under the same terms and conditions as are offered to or by a bona fide third party, including financing. (Vii) Timeshare Use Plan-. See portion of this proposal entitled "Timeshare Use Plan". 5 (Viii) Notice of Liens: To be submitted with Final Disclosure Statement. [Title to the Units is currently subject to a First Mortgage in favor of Hinsbrook Bank & Trust and a subordinated deed of trust in favor of Majorie Babcock. It is the current intention to pay down the mortgage through the sale proceeds o f the Fractional Ownersliip Interests. There are no other liens, title defects or encumbrances on or affecting the title to the Units]. (ix) Notice of Legal Actions: To be submitted with Final Disclosure Statement. [There are no pending or anticipated legal actions that are material to the timeshare Units or Plan of which the Applicant has, or should have, knowledge]. lx) Purchase Price: To be submitted with Final Disclosure Statement. [The total financial obligation of the purchaser, which shall include the initial price and any additional charges to which the purchaser may be subject in purchasing a Fractional Ownership Interest in the Unit, is $180,000 for a Luxury Suite Unit, $120,000 for a Executive/Family Unit, S88,000 for an Historic King Unit. $76,000 for a Standard King Unit, and S60,000 Bunk Room Unit. These amounts reflect Phase I pricing levels. Note - the pricing levels of subsequent phases are anticipated to be higher]. (Xi) Dues/Taxes: Real estate transfer taxes will be collected at the closing of each sale of a Fractional Ownership Interest. Property taxes will be assessed and billed to each Owner of a Fractional Ownership Interest based on the County assessor's tax records. (Xii) Management Fees: To be submitted with Final Disclosure Statement. [The Condominium Association will assess, collect and maintain management fees to be held in separate accounts for each Owner. While the Applicant has not determined the exact method for assessing management fees to Unit Owners, in general management fees will be assessed on a pro rata basis according to ownership and type of ownership.] (Xiii) Financing: To be submitted with Final Disclosure Statement. [The Applicant is currently studying the feasibility of offering financing to prospective purchasers of Fractional Ownership Interests]. (Xiv) Limited Warranties: To be submitted with Final Disclosure Statement. [The Applicant has not finalized the specific limited warranties and limits on liability that will be applicable to the Fractional Ownership Interests. The Applicant anticipates that the actual limited warranties and limits on liability will be similar to those typically imposed upon Owners of fractionalized ownership interests in the state of Colorado. subject to any statutory limitations or exclusions. 6 I Â¢ (XV) Statement of Compliance: The proposed development will comply with all applicable requirements ofTitle 15. Section 61, C.R.S. (Xvi) Third Party Liens: To be submitted with Final Disclosure Statement. [Fractional Ownership Interests will be subject to liens and encumbrances as permitted by law. Since each Fractional Ownership Interest shall be a separately deeded interest, the lien or encumbrance would be placed on the Owner's Fractional Ownership Interest only. To the extent an Owner causes a lien or encumbrance to be attached to the Unit and/or the Fractional Ownership Interest of another Owner or the Applicant. the Owner who caused the lien will be obligated to satisfy the lien or encumbrance and indemnify the Applicant and all other Owners of the Unit from any and all claims and damages as a result thereof.] (xvii) Minimum Sale of Units: The Applicant will require a minimum sale of 10% percent of the Units before the Applicant proceeds with the completion of the Timeshare Development. (Xviii) Maintenance.* To be submitted with Final Disclosure Statement. [It is anticipated that Owners of Fractional Ownership Interests. at the Owner's expense, shall maintain and keep in repair the interior of the Unit, including the fixtures and utilities located therein to the extent current repair shall be necessary in order to avoid damaging other Units or the Common Elements. All fixtures, equipment and utilities installed and included in a Unit serving only that Unit, commencing at a point where the fixtures. equipment and utilities enter the Unit shall be maintained and kept in repair by the Owners of that Unit. An Owner shall also maintain and keep in repair all windows and other glass items related to such Owners' Unit and any entry door or doors serving such Unit. Notwithstanding the foregoing provisions. the maintenance and repair of the interior o f any Unit shall be undertaken by the Board of Directors at the expense of the Owners of the Unit, and no individual Owner o f any Fractional Ownership Interest shall have any of the rights heretofore described. The Condominium Association, without the requirement o f approval of the Owners of the Fractional Ownership Interests shall maintain and keep in good repair, replace and improve, as a Common Expense, the Common Elements]. (Xix) Exchange Program: To be submitted with Final Disclosure Statement. [Owners of Fractional Ownership Interests will initially not be eligible for participation in an Exchange Program. The possibility of participation in an Exchange Program in the future will be studied by the Applicant]. (XX) Insurance: To be submitted with Final Disclosure Statement. [The Condominium Association shall maintain, to the extent reasonably available: (i) Property Insurance on the Common Elements and. to the extent required by law, the Units for fire and other broad form covered causes of loss; and (ii) commercial general liability insurance (with one policy being obtained for the 7 9 , Condominium Association and the Common Elements and separate policies being obtained for the Units at the expense of the Owners of Fractional Ownership Interests. In all insurance policies, the Condominium Association shall be named as the agent for each o f the Owners]. (xxi) Amenities and Recreational Facilities: To be submitted with Final Disclosure Statement. [All on-site amenities and recreational facilities are available for use by all Owners of Fractional Ownership Interests. Such on-site amenities are owned by the Condominium Association and, except as specifically set forth below, the Developer shall not charge any additional fee for the use of such amenity. The current recreational facilities and amenities include heated Jacuzzi Spa on-premises restaurant & Beverage Service Facility, housekeeping service, on premise laundry, on-premise temporary storage (skis, boots, etc.)]. (xxii) Mandatory Statement*. Any timeshare interest shall be expressly subject to all requirements and representations set forth in the disclosure statement. (Xxiii) Architectural or Engineering Report: To be submitted with Final Disclosure Statement. [There are no notices of uncured violations of building code or other municipal regulations]. 8 Section V Timeshare Development Instruments: It is anticipated that the following Timeshare Development Instruments will be submitted ifthe Project receives approval from the City: (a) Condominium Declarations. It is anticipated that this document will: (i) create a condominium project pursuant to the Colorado Common Interest Ownership Act; (ii) set forth the division of the Project into condominium ownership; (iii) set forth the Owner's property rights in the Common Elements; (iv) set forth the membership and voting rights in the Condominium Association; (v) set forth the duties o f the Condominium Association; (vi) establish the terms and conditions of assessments of the Owners by the Association; (vii) delineate the maintenance responsibilities; (viii) set forth insurance requirements; (viii) set forth the terms of conveyance and taxation o f condominium interest; (ix) set forth use restrictions; and (x) to generally set forth and descibe the plan of Fractional Ownership. (b) Articles of Incorporation. This document will register the Condominium Association as a not for profit corporation under the laws of the state of Colorado. (c) Condominium Association Bvlaws. It is anticipated that this document will: (i) set forth o f the purpose o f the Condominium Association; (ii) define membership in the Association; (iii) set forth meeting of the members of the Association; (iv) set forth the membership requirement as well as the duties and responsibilities of the Board of Directors of the Association; (v) set forth the officers of the Association and describe their duties; (vi) set forth the indemnification provisions o f the directors and o fficers o f the Association; (vii) define the obligations of the Owners of the Association; (viii) set forth provisions concerning the books and records o f the Association; and (ix) define the tax year on which the Association will operate. (d) Rules & Reflulations. It is anticipated that this document will set forth the rules which must be followed on the Property regarding such issues as parking, use of the Jacuzzi Spa, number of occupants per Unit. noise restrictions, and other relevant policies. Ce) Management Agreement. It is anticipated that this document will set forth the agreement between the Condominium Association and the Managing Agent, Western Peak, LLC. (f) Membership Program. It is anticipated that this document will set forth the dates allocated to each Fractional Ownership Interest and describe the policies to 9 . be followed in the event that an Owner of a Fractional Ownership Interest desires to make the Unit available as a rental. Section VI IManagement Plan Little Red Ski Haus has entered into a management agreement with Western Peak, LLC to manage the Little Red Ski Haus Lodge. Western Peak, LLC is a Colorado based LLC whose managing member is David R. Fiore. It is anticipated that upon establishment of the Condominium Association, Western Peak, LLC will be engaged to manage the project. Accordingly, Western Peak, LLC will be responsible for: (i) continuing maintenance of the Property; (ii) supervision and oversight of staff; and (iii) maintaining and administering the reservation system. Section VII iMarketing Plan Little Red Ski Haus, LLC anticipates marketing available Fractional Ownership Interests through the use of licensed and reputable third party brokers located locally in Aspen as well as other major metropolitan locations throughout the country. The Lodge may offer gifts for travel to or accommodations in Aspen, restaurants in Aspen, and local attractions, such as ski passes, concert tickets, or other gifts that reflect the local Aspen economy. The Lodge will not offer any gifts for which: (i) an accurate description is not given; (ii) notice is not given to the prospective purchaser that the purchaser will be required to attend a sales presentation as a condition of receiving the gifts; and (iii) the printed announcement of the requirement to attend a sales presentation is in smaller type face than the information on the gift being offered. Section VIII Budget The Applicant is in the process of preparing the Condominium Association's estimated budget for costs and expenditures for the management and maintenance of the Lodge. The estimated budget will be submitted prior to hearing. Section IX Upgrading Plan The Lodge has been physically upgraded and modemized in accordance with applicable codes, and has been approved pursuant to the Existing PUD Plan. 10 . Section X Tax Collection Real estate transfer taxes will be collected at the closing of each sale of a Fractional Ownership Interest. Property taxes will be assessed and billed to each Owner of a Fractional Ownership Interest based on the County assessor's tax records. Section XI Developer's Registration As of the date of this proposal. the Developer has not registered with the Colorado Real Estate Commission. If the Plan is approved, the Developer will submit Developer's registration at the time the timeshare documents are submitted for recordation, pursuant to Section 26.590.090 of the City of Aspen Municipal Code. Section XII Review Standards for Timeshare Lodge Development Compliance with the standards outlined in Section 26.590.070 is described below or attached as noted. (a) Fiscal Impact Analysis and Mitigation. The attached Fiscal Impact Analysis and Mitigation Study demonstrates that the proposed conversion of the Lodge to a timeshare lodge development will not have a negative tax consequence for the City of Aspen, and in fact will have a positive tax affect on the City. (b) Upgrading of Existing Projects. The Lodge has been physically upgraded and modernized in accordance with applicable codes, and has been approved pursuant to the Existing PUD Plan. (c) Preservation of Existing Lodging Inventory. The conversion of the Lodge to a timeshare development will preserve and enhance Aspen's existing lodging inventory. The Lodge has replaced the existing number of rooms on the property with a comparable number of Units for the planned timeshare lodge. (d) Affordable Housing Requirements. Affordable housing requirements are not applicable to this application. (e) Parking Requirements. The Lodge will have 3 parking spaces, meeting the parking standard for the underlying zone district for lodge uses, based on the maximum number of proposed rooms in the Lodge. Owners of Fractional Ownership Interests will be prohibited from storing a vehicle in a parking space on-site when the Owner is not using the Unit. There will be no increase in parking demand as a result of the Plan. 11 . (f) Appropriateness of IMarketing and Sales Practices. The following marketing and sales practices shall not be utilized: (i) The solicitation of prospective purchasers of timeshare Units on any street, mail or other public property or facility; and (ii) Any unethical sales and marketing practices which would lend to mislead potential purchasers. The Lodge may offer gifts for travel to or accommodations in Aspen. restaurants in Aspen, and local attractions, such as ski passes, concert tickets. restaurant gift certificates, or other gifts that reflect the local Aspen economy. The Lodge will not offer any gifts for which: (i) An accurate desciption is not given; (ii) Notice is not given to the prospective purchaser that the purchaser will be required to attend a sales presentation as a condition o f receiving the gifts; and (iii) The printed announcement o f the requirement to attend a sales presentation is in smaller type face than the information on the gift being offered. (g) Adequacy of Maintenance and Management Plan. To be submitted with Final Disclosure Statement. [The Applicant will provide documentation and guarantees that the Fractional Ownership Interest development will be appropriately managed and maintained in a manner that will be both stable and continuous. That document will include an identification of when and how maintenance will be provided, and will also address the following requirements: (i) A fair procedure for Owners to review and approve any fee increases which may be made throughout the life of the Project, to provide assurance and protection to Owners that management/assessment fees will be applied and use appropriately; and (ii) The Applicant will also demonstrate that there will be a reserve fund to ensure that the proposed Project will be properly maintained throughout its lifetime. (h) Compliance with State Statutes. The Applicant will comply with the applicable requirements of Title 12, Section 61, C.R.S.; Title 38, Section 33, C.R.S.; and Title 38, Section 33.3, C.R.S. (i) Approval by Condominium Owners. The Condominium Declaration will allow for timesharing, and will require that one hundred percent (100Â°/0) of the Owners of the Condominium Units have to approve the Plan of Fractional Ownership, including any improvements to the Common Elements that the Applicant may propose, that all mortgagees of the condominium have approved the proposed Plan of Fractional Ownership. and that the 12 . I Condominium Units in the timeshare development will be included in the same sales and marketing program. A copy of the Condominium Declaration shall be provided as required following approval of the Plan. (i) Prohibited Practices and Uses. The Applicant shall not: (i) Engage in the creation. operation or sale of a right-to-use interest or any other timeshare concept which is not specifically allowed and approved pursuant to the requirements of Section 26.590.070 of the City of Aspen Municipal Code, including the creation, operation or sale of lease-holds and vacation clubs. 11 Misrepresent the facts contained in any application for timeshare approval, timeshare development instruments. or the disclosure statement. (iii) Fail to comply with any representation contained in any application for timesharing or misrepresent the substance of any such application to another who may be a prospective purchaser o f a timeshare interest. (iv) Manage, operate, use. offer for sale or sell a timeshare estate or interest therein in violation o f Chapter 26 of the City of Aspen Municipal Code or any approval granted pursuant thereto, or cause or aid and abet another to violate any requirements of said Chapter, or an approval granted pursuant to said Chapter. Section XIII Conclusion The Applicant believes that this proposal meets the standards and requirements for a timeshare lodging development plan, and also meets the spirit and intent of the procedures and standards established by the City of Aspen for providing for the protection of the character of Aspen as a resort community, and for promoting increased tourism and vitality within the City. Specifically, the Plan for the Lodge will help to implement the goals and achieve the public purposes of the Aspen Area Community Plan by increasing vitality, preserving and enhancing lodging inventory, upgrading the quality of accommodations, and maintaining community character. 13 . Appendix Definitions 2.1 "Applicant" shall mean Little Red Ski Haus, LLC. 2.2 "Common Elements" shall mean all of the Project, including the Property, except the Units. Common Elements include General Common Elements and Restricted Common Elements. Common Elements also include, but is not limited to, tangible and intangible personal property including membership rights, licenses, and other beneficial use rights designated by the Applicant or acquired by the Condominium Association as Common Elements and existing for the use o f one or more Owners. 2.3 "Condominium Association" shall mean LRSH Condominium Association, Inc., a Colorado nonprofit corporation, and its successors and assigns. 2.4 "Condominium Declaration" shall mean the declaration of Condominium for LRSH Condominiums together, with any exhibits, supplements or amendments to the Condominium Declaration, recorded in the Records. 2.5 "Developer" shall mean the Applicant, Little Red Ski Haus. LLC. 2.6 "Existing PUD Plan" shall mean the PUD Plan approved by the City of Aspen in 2002. 2.7 "First Mortgage" shall mean an unpaid and outstanding mortgage, deed of trust or other security instrument recorded in the Records, which secures financing for the Project. 2.8 "Fractional Ownership Interest" shall mean an undivided. fee ownership interest (expressed as a fraction) as tenants in common in a Unit together with an Allocation allowing Owners exclusive right to possession, use and occupancy of a Unit during Use Periods pursuant to the Condominium Association Documents. The smallest Fractional Ownership Interest shall be at least an undivided 1/248 interest, which carries with it the right to the use, occupancy and possession o f a Unit for two weeks in accordance with the Condominium Association Documents. Fractional Ownership Interests may be identified by one or more letters, numbers, symbols or combinations thereof. Fractional Ownership Interests may be identified in advance of transfer of such Interest or may be identified upon transfer. At a minimum, a Fractional Ownership Interest in a specific Unit must be identified by the undivided fee ownership interest in a specific Unit. A Fractional Ownership Interest is sometimes referred to as a Fractional Interest, which is a time share estate under Colorado law. 2.9 "Lodge" shall mean the Little Red Ski Haus Ski Lodge located at 118 E. Cooper Avenue in the City of Aspen, Colorado. 14 .. 2.10 "ManaginH Agent" shall mean a person, firm, corporation or other entity employed or engaged as an independent contractor by the Association pursuant to a Management Agreement to perform management services for the Project. 2.11 "Marketing Entitv" shall mean a licensed and qualified real estate broker approved by the Applicant to market and promote Fractional Ownership Interests. 2.12 "Owner" or "Owners" shall mean any record owner, whether a natural person or persons, or an entity, of a fee simple title interest in and to any Unit (including, without limitation, an owner o f a Resident Interest). 2.13 "Plan of Fractional Ownership" or "Plan" shall mean the system of mutual use rights and obligations created and established by the Condominium Declarations for Owners of Fractional Ownership Interests. 2.14 "Proiect" shall mean the Property (hereinafter defined) and all improvements thereon. 2.15 "Propertv" shall mean the real property describe on the accompanying legal description. 2.16 "Records" shall mean the official, public records ofthe Office ofthe Clerk and Recorder o f Pitkin County, Colorado. 2.17 "Restricted Common Elements" shall mean those portions of the Common Elements that are reserved for the exclusive use and are under the exclusive control of the Condominium Association and are as so designated by the Condominium Association. 2.18 "Unit" or "Units" shall mean the physical portion of the Project designated for separate ownership or occupancy. 15 _ Z 4 9 1 LAC 4./COM NU, 90 /9 - , 2 '-v I . e Na'& ~4,9,6 .4 .*21. L.- title of aspen OWNERSHIP AND ENCUMBRANCE REPORT Order No.: 41916 Prepared For: STEWART TITLE OF ASPEN, INC. HERE]3Y CERTIFIES from a search of the books iii this office that title to: Lot 0 and the West one-half of Lot P, Block 69, CITY AND TOWN-SITE OF ASPEN. COUNTY OF PITKIN, STATE OF COLORADO. situated in the County of Pitkin. State of Colorado, appears to be vested in the name of: LITTLE RED SKI HAUS, LLC and that the above idescribed property appears to be subject to the following lions: 1. A Deed of Trust dated December 20, 2001, executed by Little Red Ski Haus, LLC to the Public Trustee of Pitkin County, to secure an indebtedness of Sl,200,000.00, in favor of Hinsbrook Bank and Trust, recorded December 20,2001 as Reception No. 462100. NOTE Assignment of Rents recorded December 20, 2001 as Reception No. 462101 given in connection with the above Deed of Trust. 2. A Deed of Trust dated December 20, 2001, executed by Little Red Ski Hans, LLC to the Public Trustee of Pitkin County. to secure an indebtedness of $300,000.00, in favor of Maijorie Babcock, formerly known as Maijorie Babcock Riley, Trustee under that Unrecorded Living Trust Agreement Dated November 9 1988, recorded December 20,2001 as Reception No. 462102. NOTE: Subordination Agreement recorded July 15, 2002 as Reception No. 469847. 3, A Mortgage dated April 12, 2002. executed by Little Red Ski Haus, LLC, to secure an indebtedness of S900,000.00, in favor of Hinsbrook Bank and Trust, recorded July 15: 2002 File Number, 41916 Stewart Title ot Aspen, Inc 0 & b Repon Page 1 of 2 11 1AAC /.LC-7 c-EWAR- -2-_E Airit . A V 1 ./ .. as Reception No. 469848 NOTE: Assignment of Rents recorded July 15, 2002 as Reception No. 469849 given in connection with die above Deed of Trust 4. Notice Extending Time To File Lien Statement naming lien claimant as Western States Fire Protection Co., recorded April 25, 2003 as Reception No. 481913. EXCEPT any and all taxes and assessments. EXCEPT all easements, rights of way, restrictions and reservations of record. This report does not reflect any of the following matters: 1. Bankruptcies w}zich, from date of adjudicarion of the most recent bankruptcies, antedate the report by more than fourteen (14) years. 2. Suits and judgments which, from date of entry, antedate the report by more than seven (7) years or until the governing statue oflimitations has expired, whichever is the longer peiod. 3. Unpaid tax liens which, from date ofpayment, antedate the report by more than seven years. Although we believe the facts stated are true, this letter is not to be construed as an abstract of title. nor an opinion o f title, nor a guaranty o f title, and it is understood and agreed that Stewart Title of Aspen, Inc., neither assumes, nor will be charged with any financial obligation or liability whatever on any statement contained herein. Dated: September 23.2003 at 8:00 a.m., at Aspen, Colorado STEWART TITLE OF ASPEN, INC. /4[lorized signature Flte NumberÂ· 41916 Stewart Tit]B of Aspen. inc. O & E Report Page 2 of 2 I . Qougar & rranzmann, LLC Attorneys & Counselors at Law DATE: September 30,2003 TO: David Fiore Little Red Ski Haus, LLC FROM: William Gouger Gougtr & Franzmann, LLC SUBJECT: Fiscal Impact Analysis for Fractional Ownership Development I. INTRODUCTION The purpose of this memorandum is to evaluate the fiscal impact to the City of Aspen i f the Little Red Ski Haus historic lodge property is redeveloped as a fractional ownership development. This analysis complies with the City's recently passed and revised fractional/timeshare ordinance 26.590.070, which states that: An applicant proposing to convert an existing lodge to a fractional lodge development shall be required to demonstrate that the proposed conversion will not have a negative tax consequence for the City. In order to demonstrate the tax consequences of the proposed conversion, the applicant shall prepare a detailed fiscal impact study as part of the final PUD application." The ordinance requires comparisons between the existing lodge operation and the proposed fractional ownership development for the following tax categories: â€¢ Sales taxes; â€¢ Real estate transfer taxes; and â€¢ Real property taxes Analyses of these fiscal impacts have been completed by Gougdr & Franzmann, LLC and are presented in this memo. -~ . Site and Proposed Development Little Red Ski Haus, LLC is proposing to maintain the historic ski lodge character of the Little Red Ski Haus by creating a fractional ownership development. The lodge is located at 118 East Cooper Avenue between South Aspen Street and South Garmisch Street in the City of Aspen. The property is currently operated as a lodging establishment. An extensive renovation competed in December, 2002 brought the structure into full compliance with all applicable building codes and added an approximately 1.000 square foot food and beverage facility below ground level. The number o f available guest rooms was reduced from 23 to 13 in order to increase the size of most rooms to meet the expectations of today's Aspen visitors. The original Little Red Ski Haus structure was built in 1888. Following the recent renovation, it was recognized by the Aspen Historic Preservation Commission in August. 2003 as a recipient of one of their 14th Annual Honor Awards. Due to the high cost o f remodeling a historic structure, and the significant debt incurred by Little Red Ski Haus, LLC for the property purchase and renovation, the most economically viable step is for Little Red Ski Haus, LLC owners to seek approval for fractional ownership development of the property at this time. The proposed development will consist of 1 two-bedroom suite and 11 one bedroom units. each with a private bathroom, providing a total of 12 units to be sold. The food and beverage facility will be available to fractional interest owners and Lodge guests for meals, events and refreshments. The project will be offered as a fractional interest in real estate, wherein buyers purchase a deeded interest which entitles them to use of a particular residence unit for a specified number of weeks per year. If approved. condominium declarations and a subdivision plat will be filed in order to create the property interests. Current plans call for the sale of 154 fractional ownership interests. 2 . Table 1 provides a summary of the project development program, including unit mix, unit sizes. and average sales price. Table 1 Little Red Ski Haus Fractional Ownership Development Total Units Total Membership Shares 12 154 Average Unit Size Average Fractional Price 325 sq. ft. (approx) $118,890 Unit Type Total Project Floor Area 1 and 2 Bedroom 6.772 II. STUDY METHODOLOGY In completing the fiscal impact analysis for the Little Red Ski Haus project, Gougdr & Franzmann, LLC obtained and analyzed the following: â€¢ Historic sales. lodging and property taxes paid by the Little Red Ski Haus. AlI historic dollar amounts have been adjusted for infiation and are expressed in 2003 dollars: â€¢ Market, economic and fiscal information from the City of Aspen and Pitkin County officials; and â€¢ Project performance information from comparable projects in the Rocky Mountain region. A fiscal impact model was developed to compare the flow of tax revenues as they are affected by the Little Red Ski Haus project. The model was designed to: â€¢ Evaluate the Little Red Ski Haus project's characteristics with respect to project market value. unit sales absorption and operational performance; â€¢ Formulate municipal revenue proj ections for the Little Red Ski Haus development; and 3 â€¢ Compare the tax consequences to the City of Aspen of the following two scenarios: â€¢ Continued operation o f the existing lodge; and â€¢ Development o f the proposed Little Red Ski Haus fractional ownership development. The underlying assumptions used in formulating the model are detailed in the remainder o f this report and the accompanying exhibits and appendices. Tax revenues to the City of Aspen have been summarized for the prior five years of lodge operation, and compared with projections of tax revenues the proposed lodge fractional ownership development will pay to the City over the first five years of its operation. Fractional Ownership Sales Plan EXHIBIT 1 summarizes underlying assumptions regarding the Little Red Ski Haus project's timing of unit sales absorption, and total project sales revenues. The units are already complete and sales will begin immediately following City approval. Approximately 24 fractional ownership interests are projected to be sold in 2004 and the remaining 130 units are conservatively projected to be sold over the following four years, at a rate o f 2-4 per month: Occupancy In order to analyze the fiscal impact of the Little Red Ski Haus fractional ownership development proposal, it was assumed that purchasers of fractional ownership interests would utilize the units at an industry average rate of 85%. The rental of fractional ownership interests not sold was assumed to occur at an average Aspen occupancy rate of 53%. Finally, for purposes of this study, 100% occupancy was assumed for the 4 peak weeks not sold to fractional ownership purchasers. III. NET NEW TAX REVENUES Based upon Gougdr & Franzmann. LLC projections, it is anticipated that the Little Red Ski Haus Lodge will generate approximately $31,0002 annually in net new revenues for the City of Aspen, totaling S 155,000 net new revenues in the first five years of operation. This figure includes net new sales and lodging taxes, real estate transfer taxes and real property taxes. Fiscal revenues generated by the previous use of the subject property ' Average absorption at other comparable fractional ownership properties ranges from 5-13 shares per month. i Numbers are rounded to nearest $ 1,000 throughout report. 4 were subtracted from the projected revenues generated by the Little Red Ski Haus Lodge to arrive at the "net new" fiscal impacts. Sales and Lodging Taxes The fractional/timeshare ordinance requires the following comparison between the existing Little Red Ski Haus and the proposed Little Red Ski Haus Lodge fractional ownership development: A suminary of the sales taxes paid to the City for rental of lodge rooms during the prior five years of its operation. If the lodge has stopped renting rooms prior to the time of submission of the application, the summary shall reflect the final five years the lodge was in operation. The summary of past taxes shall be compared to a projection of the sales taxes the proposed fractional lodge development will pay to the City over thefirst.Ave years of its operation. " EXHIBITS 2a and 2b summarize the underlying assumptions used in preparing sales tax revenue estimates for the Little Red Ski Haus Lodge. The City o f Aspen will capture sales and lodging tax revenues from three sources: â€¢ Room Rentals: Fractional interest unit owners of the Little Red Ski Haus Lodge will have the option to rent out their units during the year. Approximately 10% of the occupied nights are expected to be used by non-owners who will pay rent and incur sales and lodging taxes. In addition, until all fractional interest units are sold. Little Red Ski Haus, LLC will offer unsold units for rent to the public. Finally, Little Red Ski Haus, LLC intends to reserve 4 weeks per year out of the fractional ownership calendar in order to rent out the entire lodge to groups during peak weeks. â€¢ Indirect sales: The Little Red Ski Haus Lodge will function as a vacation destination for individuals whose permanent residence lies outside of the City of Aspen, and likely outside the state of Colorado. These individuals will purchase goods and services while in Aspen, thus increasing city sales tax revenues. â€¢ Food & Beverage Facility: Operation of the Little Red Ski Haus food and beverage facility for lodge guests will generate additional revenues and sales tax for the City o f Aspen. 5 { . Table 2 Net New Sales and Lodging Taxes As Lodge Fractional Ownership Difference Room Rate S 50 $ 200 x Number o f Rooms 23 13 x Days per Year 365 365 = Total Possible Revenue S419,750 $335,524 x Occupancy Rate 53% see Exhibit 3b = Rental Revenue S222,468 $335,524 Sales/Lodging Tax Due - 3.2%1 S 7,119 S 10,737 Tax Contribution of Restaurant2 N/A S 1,210 = Total Direct Sales Tax S 7,119 S 11,947 + Indirect Sales Tax from Visitor Spending $ 26,821 S 28,045 Total Annual Gain in Sales Tax $ 33.940 S 39,992 S 6,052 Total Gain Over 5 Years S169,698 $199,960 S 30,262 1Taxes were estimated because historical records provided by Pitkin County were incomplete 21,000 sq ft food and beverage facility averaging $150 per day in sales to Lodge guests Based on estimates of the above taxes, fractional ownership of the Little Red Ski Haus Lodge is expected to generate approximately 90,000 in annual city sales and lodging tax revenues, compared with the roughly 534.000 that would have been generated by continued operation of the Lodge in the historical manner. The five-year cumulative total shows the Little Red Ski Haus Fractional Ownership Development will contribute nearly $30,000 more to the City of Aspen in sales and lodging tax revenues than would the existing operations, largely because the Little Red Ski Haus Lodge will achieve a higher occupancy rate and induce a greater amount of indirect sales tax. Real Estate Transfer Taxes The second compaison required by fractional/timeshare ordinance 26.590.070 is as follows: "As estimation of the real estate transfer taxes that would be paid to the City if the existing lodge were to be sold. If an actual sale of the property has occurred within the last l 2 months, then the real estate taxes paid for that sale shall be used. This estimation shall be compared to a projection of the real estate transfer 6 ' 1 taxes the proposed.fractional lodge development will pay to the CiA' over the first five years of its operation. This projection shall include a statement of the expected sales prices for the fractional shares, and the applicable tax rate that will be applied to each sale." Because the subject property has not been sold in the last 12 months, it was necessary to estimate a selling price. The market value assigned to the property by the Pitkin County Assessor's Office for 2003. and utilized by Gougdr & Franzmann, LLC in this analysis is S2,164,800. Cumulative project sales for the proposed Little Red Ski Haus Lodge are based on expected unit pricing and typical fractional industry sales absorption. The initial sale of the units and owner resales will be subject to Aspen's real estate transfer tax, due on the purchase o f all real property within the city limits o f Aspen. Gougdr & Franzmann, LLC's analysis indicates that the one-time sale of the Little Red Ski Haus generates very little tax revenue when compared with the sale and resale of fractional units over the 5-year study period. Development of the Little Red Ski Haus Lodge will result in approximately 3115,000 net new RETT tax revenues to the City of Aspen. Were the subject property to instead be sold as a single family dwelling, the City of Aspen would receive less than S32,000 in revenue, or approximately 28% of the potential tax revenues that could be captured from the Little Red Ski Haus Fractional Ownership Development. See Table 3 and EXHIBITS 3a and 3b for analysis details. Table 3 Net New Real Estate Transfer Taxes Projected Unit Shares Sold and Resold 170 x Average Sales Pricel S118,890 = Total Project Sales $20.309,000 Wheeler Opera House Tax (0.5%) $101.545 Affordable Employee Housing and Daycare Tax (1.0%)2 $ 44,740 New RET Taxes from Proposed Lodge (2004-2008) $146,285 Less RET Taxes if property were to be Sold) $ 31,472 Net New RET Tax (5-Year Comparison) $114,813 1Average sales price shown for initial sales only, average sales price of resales estimated at S 125,000 2Affordable Employee Housing and Daycare Rate does not apply to first S 100,000 of transaction 3Little Red Ski Haus value based on 2003 property assessment. Source: Pitkin County Assessor's Office 7 1 , Propertv Taxes The final comparison required by fractional/timeshare ordinance 26.590.070 is as follows: "A summary of the City portion of the property taxes paid for the lodge for the prior five years of its operation, and a projection of the property taxes the proposed fractional lodge development will pay to the City over the first five years of its operation. This projection shall include a statement of the expected value that will be assigned to the property by the Tax Assessor, and the applicable tax rate. Gougdr & Franzmann. LLC calculated a value assessment for the Fractional Ownership Units in order to derive net new property taxes accruing to the City of Aspen. The assessed value calculations are for real property only; no estimate was made for personal property. Personal property typically represents a relatively small portion of total property taxes for a lodging property. The value assessment for the Little Red Ski Haus Lodge used for property tax calculation is based on comparable condominium sales for the 18 month period ending June 30,2002 in the two City block area surrounding the Lodge, as supplied by the Pitkin County Tax Assessors office and reviewed by Gougdr & Franzmann, LLC for reasonableness. The value assessment is S766 per square foot for the fractional units, resulting in a total property value of approximately S4.5 million. This is a conservative estimate of true market value of the subject property. Property taxes in Pitkin County, Colorado total approximately 2.97 percent of assessed value per year. Of the 2.97 percent in base taxes, approximately 18.2 percent accrues to the City of Aspen. While the balance of taxes (81.8 percent) does not accrue directly to the City of Aspen, a significant portion of these taxes go to schools and other special districts that directly benefit City residents. A schedule of property tax disbursement percentages is provided in Appendix A to illustrate this point. Applying the formulas as shown below results in net new property taxes accruing to the City of Aspen of approximately S2,500 annually, or S 13,000 over the first five years of operation of the Little Red Ski Haus fractional ownership development. The proposed development is projected to generate roughly 400% more in property tax revenues for the City o f Aspen over the next five years than the existing Lodge would generate, 8 . Table 4 Net New Real Property Taxes Projected Lodge Market Value S4,536,326 Projected Lodge Assessed Value $ 468,434 Property Tax Rate (000's) 29.738 New Pitkin County Property Taxes $ 13,396 Percentage Accruing to City of Aspent 18.16% New Annual Property Taxes to City S 2.531 New Property Taxes from Proposed Lodge (2005-2009) $ 12,654 Less Property Taxes, Little Red Ski Halls (1998-2002)2 $ 3,151 Net New Real Property Tax (5-Year Comparison) $ 9,503 iBased on a 5.401 Aspen Millage Rate per $000 of Assessed Property Value 2Based on historic tax records obtained from Pitkin County, adjusted for inflation IV. KEY CONCLUSIONS AND FINDINGS â€¢ The requested PU-D Amendment in order to create a Fractional Ownership Development of the Little Red Ski Haus will be positive fiscally for the City of Aspen and Pitkin County for every one of the tax categories considered in this analysis. â€¢ City of Aspen tax revenue generated from the proposed fractional ownership development will exceed existing lodge revenues by approximately S25,000 (adjusted to 2003 dollars) annually, or $124.000 over the five year comparative period. EXHIBIT 6 demonstrates these results. Since this analysis includes only revenues from taxes and does not account for potential revenue from impact fees, SDC's and other one-time charges, it is inherently conservative. 9 Exhibit 1 Little Red Ski Haus Fiscal Impact -Analysis of Fractional Ownership Development Plan Ve'lr 2004 1 4* 1 4 200, 20( ) _ 20081 r. A..2.-1 L.,1.r . 10 al lill....bl Juitub-- - -11 Ourer Rescies at 5 Â»0 : Total Sales 10 36 41 39 Cumuianve Sits 5-1 90 - 2 170 Value of Fractional Interest Sales (Avg. 5118.890/Unif) FrEer:i)nal [nrer:st Sales 260.000 3.265.000 3.600.000 4.334.000 4.230.000 Owner R:sake 3-5.000 8-5.000 1 â‚¬ A,1(-; / .- 133 Tomi Sdies De- 1 :212 2.360.u00 3.390.000 3.9-5.000 5.4-9,00 0 5.105000 Cumuiative Saics Dollars 2.360.000 5.750.000 0 -1 â‚¬ 1/ 4 --'00(1 SALES St-LIM.ARY TOTAL FR.\CTIONAL INTEREST SALES ,~1 FR.\CTIONAL INTEREST RESALES BY (DNNERS 20 TO r.\L HALES & RE SALES i -0 COTAL PROJECT SALES REVENUE 20.309.000 1 RC{ c ons.uiting: National Suney of Propen' Owners 2 Reore>ents Ble..ded Price of j (.lasses o[ Fractionai Ir.Cer:SI [frtlts 3 Estimated Ble :dec Sales Price S 123.000 Ir) r') Exhu,il Za 1 IHIc Ital 513 Italls Fibcal Implict .\1121|ibis of 1,1':ti tion,11 (bilict'ship 1)CilÂ·loplitiÂ·,11 hillch alld 1.(Il|King ":1\ >;littl[Il:11-3 I'lim Outtel 1.1(%11, El.( i j l,(,11 gr Frucl ional 1'1-(jjLÂ·lÂ·|lÂ·(1 1 /,till It.111'11% (hiliership 1<Clit '11% 1.Whil 1)11,Â·,1 Nitle; '1.1\ hcly.,wc D,111> 14001111<Ulc' $ 30 $ 2(jo 1,Â£Â·inge Numbci oflfooms 21 Nighb pet U:,tr 3(,3 11/Al .\Anual R:VEOUC 419,/1() ; 3.1.72 1 (scc I'Xhilili -41) C k'cup.mcy It ,| te 1.12,408 3.19 0 1<Cli{,11 k.~\CillIC .135.52.1 Sule, 32 1 0(lging I il\ Ruic 1,209ll 1 2 ()9. 1 AN 1)1 jIL /,liu ID,737 1,1\ C '11111 1 ilmliwn 01 Rest:111 111.12 1 31 () folul Dirc,Â·1 NUICS 'Tax 7,119 11 2)4 7 11,947 111(lirect >Alles 'Tox Nitiill}cl of Roomb 2.1 1)Liyh pcl )'Cor 3(}5 1,924 C kl'll~),11~cy Ritte-i h p. 8 5,! 0 c )2, upicil Nigilts 4.1-19 1,63 3 1,-1(,7 IiÂ·ople per Room 2 3 5 Average Spell(Illig pel Day (per A bpcn Fill,inee 1 )iiciÂ·100 $ 1.37 5 1 17 $ 1 37 1'01,11 litclirca .Spcililing 011Â·2|4,122 $67 2,010 1602,778 C '1[5' ul Aspeli .Sillcs 1 .1\ 14 .lic 2 20. 2.30% 2 NPM, . 4, 1'0(111 111(livel't Tin 26 '821 Id.781 1 1,261 2 8.0-15 1()1.\1 1)1141(T& INI)liUÂ·( 1 1.Â·\\ 1() .\%1'1 N 1 1 4.10 - ,-_ 19 90.' S \1.1,% Ill\>,161,1.\IM 1'1101 C)'Â«Iici 1 14*11 1 1.ILLIC)11,11 t)\\Ilciship 1)111Cjcill'C 101:41. ANNI JAI. (1:\IN/(LOSS) OF .41 1. S \1.10; 1.4\ 3 1.9.10 19,992 6,4)52 101.41.(;Al iN/(1 -00%%) OVER 5\' E.Al{% 1 (19 698 1 ,)9,9(}() 30,262 ' .Actual Sales/1.oilging '1'i,X colledÂ·11(,ils il,1- pric,1 .5 years Ill,in'oil:11)|C ji l)111 City 4,1 1)11(Al owner, Uslimale prepated Iniscil lipoll illthi limtion slipplicil by elli tem ownct 2 c 'I,|lÂ·lt|.ilcil Hased i jpon 1 .(1()() sq It fooll and bevel-age i.,cilily averaging $ 1 50 pel (lity in 1,)0Â£1/1,everâ€žge silk:s lo guests. Source ownel- Cblitilate 3 Ah'lcli ,%, Ct.lifC m c ip.litcy & ikle hini e 1985 per .4( 'R A . I l ighet- occupillicy 1-ate fur li actic)11.11 ownership units bused 14)(,li st.Ilislics oblailled f ullk two slilli cch - National Itcal IÂ·blitic lin/Cs|01 Ilitil'Ic ( 3/1/2001) alli| San Francist-(, Fxaminer slon, (9,/1 1/(|4 84 '46 4 edii<,13 01 .oilp<7 7.itli/.i Iiin.1 01 0.11 (|11ltÂ·lilli,Z71, p:unll.,pu 111(Ul Ill('(11 1.all It'.1,f I.1/1 <Â·{,1,1\\ I '111'(Q 111,11~ 01 ':t!111{1 119>1 1 7 lit'~(1 43~1'9 110(111 ~041'(1 Ittili tilll,np 41:11.1,un It'Moll.Wil f,1 p~oc< glpill! 111{,1~1 41.,Ell{}1~4 11{~111'~11.1~1' 1 1- E (Cl X6Â§.i OILT Â¢94,1 Rlf)1 i. /-6.-i â‚¬1,111 \\~) ~t'II(11~11'1 ~ 1,1 pifug CHI+N tl'(HUI Ptillo\V 9(H- IiCI 61- l'E 976'E , / 1-~)' E liD>1 0114,:|TIL\V <1117}INI 111()(91 17119.1\\Â·' 1 1)<I),1 POD' P 1-()0-1- 1-(Jf)' 1- .1~(~t'~113,\~' qq;11'N !11(1('>1 11?101 F.1~1,9 1.1.) 1!11/11 tEL'f)IF 9/1 1 9 1-E 'R *51'!1 91 9.1 1 t./.4 91 rt, I &111*11,0 1 3' 4.11'N< P.11.1,110Â·41 "94)E i N,DE l D Af) E - 1 'Md)ET JUPH \?| 71111Mpo I A' 9311'K ";,07 1 1-29.9.-lit /EL' 1911 /69'/Ci-$ OFÂ¢'Rt-i $ 14.6'(El-% ER{)'(?Rtl .1111!,afT,Mul"(411,~1.1,1[of' 11'19 1 EOÂ¢9011 7,11'111% 10/..601 $ Fol-'94)1$ 1 DE'11)1 1 1)81'Ill)it MICM,1>~ Pol,1.11(11,1 13:lA\ 117,1,1 1 IE % I fit $ EAE 1 1-RE $ #ki .-alt'>1Â·<pqi ,731'In\\'' '1.17',~~ ~F.&1 /91 11)6 1-(li /91 1Â·(4 KH 74'Irpt'#\'~ fli[;ilh] 1,10(41 11.1~~\ 11?1Â¢1 929 81- $ 906'ALI % 91 1'71-E % Il/.'filt % EXc'99* 1 31111.1#.1>1111(11411'31171(1Id toll Llc C k 9 61- I'l 1 <441 â‚¬ /9 1 P.31111* 9473!N 1110">I P:,1.1.11041 " 4. 1 9 ".1,1 5 " 9,1 9 4,6% 9 311'N F,1Nudnn~< 1 9(VtÂ· 1-/ F' 1 61Â·1'F 026 E i. 1.9 1 :111Â·~1 01.7(~I'lin\Â·- 'IlliTIN 1,10141.11/1,1.1\\ El R Oil' 1 (947 <1(,2-'1 11:af 1,1 pli.1 - Itt.Â·i~ {11 3~<It'111,\\.' 91'lilINI 1800>1 FIN (11 // 1 79% < (Hâ‚¬'i tiurr lt'.1< F,W.3(] ill,H 0llyygN7I iT*N 'llf}(~>1 977 1 /,IC I $ l E $ 9')2 1 Â·Ill)2- 1 311'>f 4 111(1 09/.71:inv , 'f X{)(VE AO< 1 c 9(){) E 60(12' _ - . 1-()1)_C --- 1 111:11(i ('fi fil~IRD,) 1 1111,! 6.jib< glull !14 11,41 Jill! 1 (lEi!(11'Ir,1 1,]xhilbit 3,1 I illte Itcil NI.i 11;1114 Fiscit| ||||pact inabbis ()1 Itu'Iii)Ital Onticnhip Ihiclopment 16Â·01141;ill' I'lillibl'cl' lar humman la\ As I'racllium| lili'i c./.SC h) liall 1 lk|HC C hvocrship (' i i y of Aspen Fi'iicill )11.11 Ownership Units Sold 1 170 Al e| 6% ult S .11 0.9 1/1 I ciP $ 2,1(,-1:800 1 lital Prolcel Salcs $ 2,1(,1,800 $ 20309,000 %18,144,200 Specific Project Taxes Wheelct- Oper, Tax l).50"' 1(i.824 1()1,545 9(),721 . t; Employee 1 louslne mid [litycilie '1'.1\2 1.00% 2(1,648 44,74(j 24,()92 FOTAL TRANSFER TAX 31,472 14(085 1 14,XI.1 ' Lodge market value based on 2003 properly assessment provided by Pitkin County Assessor's Office ' Affordable Employee I k)llsing and Dayeare Tax Rate does not apply to first $100,000 of a transaction ExhAN{3h little Red skillans 1' Gal litil),1,1 \11;+Sis 01 |''t,Iction,11 (hillers|lip De\clopment |hul| I blilllÂ· 11':Ilibici' LA\ Dr|;IiI 1 2(H)5 2(HN, 241()7 2(14)8 '11(,1,11 1'01.11 1 Imt Nitles & Rcs,iles 24 34) 36 4 1 39 170 Fouil Doll,Ii .Sillcs per Year 2,36(UNH) 5'.190jHKA 3,9755,Ki 5,479,(HH j 5,105$(H H) $ 2 (),3 (,9,00 I ) Nillill,Crof>mies $14)0,000 15 15 18 1() 14) 68 Villtic 01 Sales '- WHH),000 1,124),(HNO 1,225,000 1,49(}~(HH) 900)*H) 900j'H) I 5,635,(H)0 Numbel- 01 Sales -$100,000 9 15 18 31 29 102 Vallie 01 Killcs '$ 1(HURN) 1,24034)*) 2,1 (,5 21)(H) 2,485,(HH) 4,57 9,()(H) 4.2()5,(HH) 14,671000 Wheeler ()pera Tar 11,800 16,95(1 Ic),875 2 7,395 15 5/5 1()1,545 1(mploycc I h)11.Sing, Und l)ilycil!-C 3,4(H) 6,65() 6,85() 14,79() 13,1)51) 44,7-1 () l 5,2(H) 233,()4) 26,725 42,185 38,575 146,285 . u'l ftl,di'Id il'I,q p, 'Â·,m KI " .11'1,1, 11'10 11 -1 1111Â· t. 1;1~111'-it IrdÂ· 1- 11, 01 ) .,1,~i'~ f,no 'Â·1 1-~1 01 , mÂ· '11'11" 1 111111,1 1- w./ coll, 111,111~ 1~-,41,1 L.w,11111111''t,11"41 1 KilliC, 9*IMES"cfv 'fillitflÂ·) |1| i11,1,tri [Mlirld!19 1'11'p '7(11)7 n: (}c)(lr' fillimp I Ir:>1 i ftlil[,1,11(111119 r?;,11~,{'131(~ 4:1 7 1, enlf'C lillili lllII,1[1!trn 10 Allit'A Ir)(,1 fliprl|19 lid <18111:,At' 1111(111 1,:7,1;111:,Illtinnino .il:I.Illr,,Al:mlâ€žÂ·) 1,12~IllflopAn<1 flill,11:ll!..4 ) 11â„¢ltrill'-153] 1 .t' 1((0>1 1 1,1 :1111r'A , pir,(1 ftnxpl :711~r:ri lt':4 -1 :,lic:qn.U Uns'IÂ·11';v ,<]111~(1 1 it|~||4 { 1| 1,14 ~1<11-161(1 nlillt loil,Ar} 1011~1 1,ll ;,irli'llt'An 11(~IpN~](1111(,(111( 1, 1 1)C'(, tÂ·%') El 1<1 5 1\ If)1 N 1,14\ 1(, 111 } 2-1 FlEF 1 99 60 r, IÂ·' /1 1\1(,1 1~Flf,(1)41/1161 11'lit.,1,1111(1 (Roni ton/! CIOOT X6611 11Â·uu'11 1,1 1144>1 1 /nl./ ) lili,1 (,1\ Ill~. 14 W i 1 1/1 LIC),1,1 1, 1,1 )1 11/1110(1 '12(1/\ it, (11 / M I E I ; /'E lit ' It <' E 14 C.i M 1,)1 tv; it% L, v (,8 r, 4 1 IMA, 1 "i f, it ,)16 E 1 916/1 '1% i <11, E ; 11., i'XI 1 , ; 6. X ./.1 1 (11..:1(,1,1 9% l {,i - 8 i J-- Wil,F .,1 / /( 1. If 11 11 1 11 1,1, , 11 .'It " 11 '11,71 .171,1111\1 T.'Ill,â€ž 1 111 w.1 li')9')1 1 *'< 9,)t 11 9 9,01 1 ; 1, 9,4 1 ; 0 401 V 11 .9 11 11,111.-1\41>1,1,1 111,(11'f,1 'Fi ']t i tÂ· 9Et ')i Â§'1Â· ')'-1 '(JE b t "Et '91Â§ 4 14-Â¥ 91, 1- 'PIE :IX " 11 l' It 1, 11 1- tl 7,1tll' \ 11.11% 1 1 If, 1)IL Hooic #16019 te/01% 1 1 r, f)1 t. - Ci/677,3,7,6Tili i iÂ·, i :31â€ž- 6 3 l-Nk/,E , 2%97.ti-4 09>1'/.~El EN!<Lt-iE* 2912 /1 2 1 74 ' 4- 1.11 1,/ 1,11 1- 1 1 '< 1|I.~111.1.' 41'Ill i' .lfl~!Â· j <1(1/ t ./ .(IC /g/ (11}. / 9/ 11'll. / Rt 1111% / 4/ I'llt ')(IL l. 11 , 11 1 1 111/ I if ~ '111' 1 4111.1 41â€ž101,111,91 lilli' , 0"4 (Jil N LI., r Hic ; 1)(Ir T fll/ (lf.f. 1 9(~(,1 Numpq (11,1,14,1,1 ..1\1,1 \111(1,1,1 1111,1,111 |â€ž,1|1"Inpt.'41 11'11.1,111 â€ž011'111)1petÂ·1 Ili}11 ,"111'1(1 If~11,~ (11'111.1.4 'Pl (11.111.1,1 11'.1>1 1111,11,1.|,1,41 (111/171|y,) 1,Â·1'filtip' | 11) q.i|"ll,~ iN''lit'll,1.1 1 'llpIt ! 19 1'Â·1}1 lilli I 1 Billi< 1 EA laillit 5 Fiscal linpact \11;11+51% I iNIC Red Nkilliuts I nictionul On liership De\'clopment 1 ;1\ Milig:,tion Fec Calculation - Cit, Of Abpell Itractional On|kiship Mitigntion 1 )c, cli,pmell I 1, CC liandli-fa\ i .11.472 $ 1 46,28.5 $ Reallistate Tax $ 3,Iii $ 12,654 $ Sales & 1.odging T:1\ $ PP1960 $ 1()1.\1.141:olill<lit) 1''I{li $ 20432 I $ 358,900 $ $ 154,579 P 4 huni 6 litiltÂ· Rcd >li 11;Ills FiNCil| 11111);Ict \11,1|ihij Of FI ile|intill| OuttiÂ·rhhip 1)9; l'll,rnwnt 1'1<5<'111 \,Illic i illl'111;ili*,11% 1 998 1(J(jLJ 2(J(H) 2(H)' ,(M.2 6 indi |ht)|L L |l'll 2(Hil 7(HAS 2("}6 7(H)7 .'Hix (1111Â£111 3 4 illicill Â·| c lille'111 4 4 litiC[U 2 ('llilf'111 -1 ,~\.'IL,1,4 7\\clilpc ('1111.111 b I ('lillilit 1.2 ('lilliÂ·111 I i ('Illicm bl C 111 1 4,(1111| '1114| |'AllillilÂ·(1 42,185 1 1,1'ihil.1 1 L'\ C) C) (1 4 1.-1/2 1,294 392 4/ 132(H) 2 U)00 26,725 18,3/. Rcal l.biati' 1 1 1 1() 11 143 -3 8 4 -1() 1 4()I 6 1(j 2,79) 2,(1 1 3 3,698 2,79(I 1,8 8 5 2,97 Nalch 1 I odging 1 il\ 3 1941) .4 1./)41() 33,94(} 332)40 13,940 43,4 14) 44,151 41,287 42,635 .LLONI 45,589 4 7.1 (,1 1 (JINIS 4(),865 7 (j, 2(H) 1)iffc[CACC 35335 Net Prewilt Value NI'\' l actor 11 5.8 7% 11 S.-179â€ž 1 10.57% 1 (H) (, 1 I l Ot .932. H")00Â°â€ž 14)0 00% 46.90% 93.900 9(1 990I 88.17'h, 85.43'Mi '0 im",KI Ill\ - - 31,-1/2 6,294 26,27 I 1-1,729 22,160 2-1,317 37,195 3 2,91 5 RcullÂ·.hlitic lit\ 1.880 ; 8 9 424 428 -1(AN 7(1(~ -2,5.18 1,5.11 2333 2,538 2,544 2,541 SH|Ch 62 | idull\U |il\ 39326 383 1 2 37,527 1 6,1 3 3 34,59j 17,229 40,128 4(4007 40,0.; 4 -4<)5109 .1(). 1 9(, 7-&) 1 10,1.AL 11.\\12% C '01.1.Il l ED 1 )ifful elicc 24,706 lppellili\ A 2002 Properti' '1;1\ Alillage killiÂ·s 1 U/:11 1'1 Uic ted post I)evell//)11/elli //tillie 4,536,326 Es|imated ASS/Sbed \'lillie 468,6 34 I'lopevt,V '1*,tr /1 1-eal.dinul AlillagiÂ· Ritte Revenue Aspen School I )isllicl (LOO 80 46 4, 1 92 c ' ity 01 As pci i (Â£005401 233 1 C '014)1-aill) All)lilillan C 'olletw 4)003997 1,873 Open Space & it-ills (Â£003758 I,761 l'itkill ('i,Lility (Â£003249 1,523 Aspen Villicy I lospihil 0.00!500 7()3 14lkill (ounty 1.161-My (Â£00IO38 486 Aspen Fh-C Protcction (Â£000876 411 County 1 lousmg Debt 0.000310 I 45 ('olormlo Itiver \i,Iter Conscir,lill,11 (Â£000253 111) Asplul NUMMullon i)!blrIC[ (l000208 97 Aspen Alwhill,ince Diblricl (,000202 05 1'01.11'1~(dectell l'ilkill ('011.lt, 1'111])lit j 'T;n Mill Itati 0.029738 $ 1 3,936 .Appendix B Historical Consumer Price Index Datal CpI .Annual [lail L halt - annual Hal f 1 Half 2 r T .1 [983 li)(-).5 378Â°4 [984 101,3 103.6 105.1 1f LVS) [07.1 1 06.4 107.8 -.V 2.6890 1986 1 07,9 107,4 LOSS 0. S 0.75Â°b '987 ill),8 '109.9 1 1 1.6 2.9 2.69Â°6 .1.- 70 1 6 10Â· 1988 1 .- 112.8 1 14.7 -./ [989 115.8 115.0 1 16.6 2.1 :.35,0 1990 120.9 119.4 [22.5 5.i 4.40Â°'0 1 7 1991 [25.6 1 24.8 126.4 3,0 106 i 992 130.3 1 29.0 i 31.6 1.7 3.74Â° G [993 135.8 , 34.6 137.0 5.5 4,220,0 1994 1-11.8 140.0 1 11 4. 1 1 ..17 1-2.U 6.0 ...4-- il 1995 14-.9 :46.9 149.0 6.1 2.300/0 - 1 1 54.2 -71-- 3.5293 1996 122.1 1 50 1 4 1-0 199 158.1 i D / 1 . I. / . . 5.0 1 Al 1 3.8 1 1 At). [998 [0[.9 160.3 . I.-/ ... .,9 0 1999 106.6 16â‚¬ 1 168.2 4 2.900.9 1 73.2 L 7 1.4 1-â‚¬ 1 6.6 3.96Â° i /-'. L i < )01 Tel -1 [30.7 20 Yr Ave _. 1 Lai.. 191.i 8.1 -168'h 1 â‚¬ , L..0, 2 f)() 2 1 81. 3 1 84.6 185.1 ..72 0 2()03 Use -' : 160'~ 3.26Â°4 .Â·u.rage of Past 19 Years -_ n 1 7 10 0 2<)4)4 2.-0- O 2.-1- 0 2.-1 . ' '0 Al 2 . 1, 0 . 1 -0 / ...3 0 20(jo 3.26Â°'h 339Â°4 = I A 0 3.42% 20( ) 7 - .- U 0 1 120. 1-0 2 008 2.-2 U /0 3.-3 4 1Denver. Boulder. Ureele:' >detrooolitan Area APPENDIX C \Swillipliuns 1%31111,pliollb fur Ti.ansfer 7,1\ Analysis 1 5'!I, Ouncil<Chilics pcl 14('ll'(,libll|lilip: Nalloilill hill\.'3 4)1~ I'roper[Y ON'ICIS 2 Number 01 il\,111,11}IC ilitils 10 1)C 11-,Ic'Ill)111&11/cil 12 i 'lom| numberofpossiblc Frill'llonill 111ll~1-Chts 15 -1 4 Au:vilit.c Imml Sulcs Plice (11~Fractiollillited Ijl|crcs|.5 $ 11 8,890 3 Ah!1-,lgC bilIC, pk'C pCI- Sl~lliÂ® loon)1 l'(}1~~1(; SJLS 111 SLII-1-()illidulg 2 (;11\/ bh)cks $ 76(~ 0 'tomi Nquale luct oil-ooIns -1,227 1 1 4)tal Squat-c fccl of('(111111]l)11 ilrciii Iilld Icstam-ant 2,545 h I otal hiill,til: fuct ofues!~1111-unt all)|1(-Â· I.(HHj 9 Vallie ol ('ommcrail linponcincins pct- 20(}i assess!}il~11|, pcl-squill-c Iho[ 3 201 10 h~aclional intcrests u ill be abscbscd NIngIC himily 1<csillential ,tlter plan is approvcd 11 Wheeler C )pcril TransIG- Til\ 0 5% 12 ttll,p|(})'Ci: Ill,ll>,11111 illill|)ily('ill-C l,1.\ (l)11 |i,lilsicl-S l)\'Ci- %100,0(JO) 1.( r: 1, Ass.mi,tions fur Real listatiÂ· 14\ Aintlysis I i Mill l evy will i-clilitin .11)111(,li)\ttil.IlcIA the sitincias 2002 29.7.18 14 As Huill vitllic i.% 14|Clitical 10 Ilic A.5.,essor'b \,Illi,Ilion linÂ· 2002 $ 1 1 6-1,800 Assessilicul Valâ€žlition 149'Cell Illizes 15 Single Family Residence - Land 7.96% 1 4) 81Â·lt -Â· hilpt'l)\ lÂ·Incli|b 7.9 (,ill 17 Commet-cml Inwrovellicms 29 00% 4%91111~}tionb fur Stiles 'Ihix :41111'ysis 18 Ilishnical Average Remal Rate - Prior (Minci $ 50.00 19 ( 'urri lll Average Rent.11 R Illc As Proposcd $ 2001,1 20 For 14(mul purposes, tile sllitc an bc ]cillcd us 2 Scpill'illc rowns 21 Current City Suk:s Tax Ritic 2.296 22 Ammill m.\ contlibmic)1 1 4 )1 12)(,d und I)Crcrituc litclilly $ 1,210 23 Annual per square fuol sales of fuod and beverage facility $ 55 r/, Ill - I 0 AD B k (ple Pa 7 LID U I Y C<11 INC fl AF fÂ®->wu LITTLE RED SKI HAUS 1\ 4 'pytaf#_ Iiâ€¢1.PAk' w. â€¢rimni r in,Min,Â¥44'/I ,< â€¢.â€¢ ,Â·,wi ,Â·ii,â€¢r. rr rTÂ·M t.iâ€¢-rÂ· ,ye,!,4 I 1â€¢lAâ€¢1. I../Â·f ....,-â€¢Si'.i -: .:Â·f.....,/.Â¢t.........:..... ....gill.....:AL,w .....2 J,â€¢1 FINAL PUD PLAN 1\ 'U,1 Â£1" e wn '2 44Â¥Â»t W.â„¢W ex:, m' f.. -/\ 7... ii :-/0 .W N -Â· 1.1 7=- 77Â©Â· : U - ;14.- .4.# 1 6 Â· ~~~+--qz--7- 1 :1 9 NV EÂ· Ii, 1,11, 1Â·Â®91 I,JÂ·. 1,/-1 1.Â»e .â€¢.41 ,--r~,1, - 11Â¢ in,-1,0 . -1Â¢ <Â¥h ..v.. - 4.JIâ€¢ ,~r i, Â£fk/ - aTY ENC2N F 115 AL'PR.7-Dal 4-Â·it. W.44 - PUQ>Clf. 5 FATEfliNr e r Lai -lii'.*0.Br...Meivii../..â€ž. ,.,fll/AD.â€¢-.1.DI~~TIAM **imiraâ€¢~,#n.~~...cy~.i, 1Um - - I - i -5:~: -0-1. 5 5 ---tatz 5 1'. 1.n~ 1~L~ll( -JC~ IUMI>~â‚¬h~~ W;1}M~ â€¢'1~0Â«J' ~1~. [Â·1~rI,~ Creâ€¢~â€¢,~,71 1Â©Â·11â€¢,U~1 ~f~,~U u Te' lrr ticAL câ‚¬'10,1 1 COMUNT Y DMLOP MENT DIA<. 1014 All'llOVA,8 C.O ApÂ«At- f L.E.1 21 2'.4981-9., ' : 3141,2/~ 0 -l'je ..467.rl'r-/r. 7-71v e -1 1 7-3 0 " A 'Â·â€¢ 4/r. i.- r CLERKAND le<Dn[DER.5 /â€¢COPTANC~,* ~~~ 03. f 7. 6 1:il 4.,Â·4' L=1 ...4. **airV, R fly . 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ILLINOIS WREE 1 rÂ©~,Â©1,1,4Â·,2 ,Ai~ e 1,1â€ž,0â€žtlbi,-~T,t,1*kl,YÂ·41â€¢Â£mK'll - riâ€¢â€¢i[<i,}nt.â„¢E<rhÂ·,ri,n~â€¢â€¢trrI,;r,l,â€¢1,1,~1,~~p~4,41, al.,Â»i,iÂ· Cl ~ICAGO Il 6061[) * n ,U,1 1! ~ St 1,â€¢ 10â€¢4 'M l i,1 K. .u31 / ~Â·~ i-ri~ ,~> rn ~ â€¢- in- ir~p--4 V}Clflf-1-Y flÂ·â€¢e I ~Câ€¢ 7,â€¢ ill, 9.,T,TF,i Â«.i -- . *1,â€žrâ€¢,â€¢1~T Tiâ€¢,i,w..i~i.,r,Â·Iâ€¢~,P. i,n..,,1, thu;E;l,C,Ull'nul, TEL. 3 I 2-167.9794} i ./.ul,iâ€¢,In ./.".â€¢ 1 1,.1 1 ,â€¢Ii>r............:.0/,)-1,â€¢1~râ€ž FAX,31 2-167.9792 -.TAL.~1*11)IMU/lâ€¢ . *TIL'/,9~I'...'l. 1 Nâ‚¬ /,161Â£ 42* 23)21. INDEX OF PUXT- DltAWINGS 1 CD . 7.1/IR ./lu: ' 111' 1 V. IKI[b/0//1 R......LN! Wl'ke.Â¥3 1 ..... 9.- 0.9 : 1\ IÂ·-I_/ LT ..1 4..,9 ...I - - - -..., .., r, g...t, . R. ./.4/ I, 1~A ./ t./i--- -I 4-4 - ./.0,/Ill l. 11. F.O.Ul.Â·U. I V.3 2-'-31_ZÂ·* ~A~I ./*.. ./:Â·T, 1. 114. -t. 1 .....4.* . m ...." OÂ· -f:/ ........ , ' LIli ._/.1,1 i "uÂ·,c.U _ L..17. I ./.-I k:5 ./. 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PAr:74! ~ J = <tÂ».4 scHIÂ·IUES'ER GORDON MEYER 1 G.â€ž A-5 8 I 6 I : 1 ..3 -,re Â·RO./ 1 fl . .2-2 r ~ 31 f,fl'TLE REI) 1 r.71 Â£ -,--*6%2 -.irdp*if,)#$~*TiyEAL-*1 f..PI &: -12 -ley 1 DRÂ·Â·WNAGE M.4;v v---piia . SKI HANS 1T, r., Lx> h.> L,> IMPROVEMENT SURVEY PLAT :2.9....- u 11 (ft- 7>..'r.'.P eli W % 14 LOT 0, AND WEST 1/2 LOT P 1...:.1.;e -.----7 1\ ... BLOCK 69 11 -4 I...VI -1.J ASPEN, COLORADO 1: 1 N 2 -21 -0 4 - 64 4- 4 -4- :/ - - -. R 0 11 , L - - V''~ '~r~.i~.~,5%3>--- 71 UM*JY,26,12Â·6< . - r.. Za & 142 U Â· 4 6 7.10Â»- -- I.-3-Â·- NÂ·,â€¢ In- -4'.n.,C4~t'SJâ‚¬â€¢Â¥'.I.Mâ€¢/ f'M.~2RA...7~ 1 r Y~ m'Bl -EU BI. foi,C.,Or .1'lari. -I -MU.-taila â€¢14...i<,cl *ST~Â·iÂ·Â·~r.,9/2~..Tir.iÂ·I~~~, 1:Wit:- ~*I .1 - --1 r, 1 LEGAL DESCRIPTION -Il U.1.-ir :-V./.1/1,â„¢.CT, IXIS 'le'.' r r-, 1 - Le[JerÂ¥1 :ft<: , 24 .-si -. - j-ierpÂ·,Â·Â· ' :Â·. 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Â·,1 â€¢rp -1.r./1/ ./klk: r.. 5-1 ./C...; 4-/5,/Ill T.2 â€¢7/. /' kLEÂ» rk*..m.. 6.7.11 ..1.1.-1*.-A~, . % I v,5r, f-*#4*W2Â·;, C,~ m {.MOOU KI-*./94--F.-IM.T.~t~.1.*.2â€ž~ CÂ«*, n,6 Wa ..14 1~./2.[.Di Tiâ‚¬ 5-,t~~IrÂ».~ 1, ./. ...4./.â€¢IM.*t,/1/*.Il:,;I,Wâ‚¬'ll 1. Â·â€¢i'â€¢e, râ€¢,/..5-:1.0,4â€¢. C D -- St 11( V I YOR N C[39 I IT ICA 'I C VI 1\ Lâ€¢> I. Il-1.........7 lit.......,Â·Il-Ki'Iâ€¢.I-â€¢-iligilly'll ~ f' '> ' I'....3-/'IL.IR....ILU. I:';19/ ..tr ..-.i ...]~4'â€¢L' ..2. 1.1.....1:....1--14 41 1-M;r.r~.til-'â€¢Vâ€¢Â·I CLE:RK AND r.1 Col<DER.Â·5 AC IP IANCE *iurÂ·~),Â£â€¢â€¢~râ€¢â€¢ti,Mi.ri m..O.4,>iv:râ€¢ .1[CCNr:Â·I 9- M "1 I .'.W" t/ / 1. fMâ€¢Â·~,> rl,â€¢47 11 67 - .t, 4 i ifÂ·X > I V.:In.1... ...r#i ....1,!r Vt r),Â¥.. 19 'll-'FUL, 1...r=70,1,11.....1/,1-Crc...1/ - ...9 "ll[ i. 1:i..'.Â»I_ .Ir.- I n.4 . W... 801"/191%'El.1 .6 J .//1 - ... -1'*'""ll 4. r-111 â€¢ D.aâ€¢â€¢0â€¢DJ C. N feR* gmly- W. .....11 HIRED GUN SURVEYING LTD. =83' 041:lietrm Il.. .6-â€¢ r. 4.- .linA--4 PO. BOX 9 M:Â·livrir ,/.. rug W. SNOW'Ma55. <X;LORADO 131644 ;â€¢Vâ€¢Â·- E./19 (97(139,3 2794 m, 2-: C:': 0060 LÂ·LT:M Vul /-. / I -I -1- kin 3/0: L .9 111111111-1111 11-11 ~11 Il~-111111111111~-1 08/13/2003 09:51A 4868 , Page: 1 or 8 SILVIA DAVIS PITK_N COLI.TY CO R 41 00 D 0.00 PUD AGREEMENT FOR THE LITTLE RED SKI HAUS PROJECT THIS AGREEMENT is made this 1.2_ day of September. 2002, between the LIn=LE RED SKI HAUS, LLC, a Colorado corporation, (the "Owners") and TILE CITY OF APSEN, a municipal corporation (the "City"). WITNESETH: WHEREAS, The Owners own that certain real property (the "Property") known as the Little Red Ski Haus, located at 118 East Cooper Avenue in the City of Aspen, County of Pitkin. State of Colorado, legally described as: Lot O and the western half of Lot P, Block 69, City and Townsite of Aspen, County of Pitkin, State ofColorado; and, WHEREAS, the Property is being redeveloped by the Owners as follows, where said redevelopment is hereinafter referred to as the "Project": â€¢ The Project includes all conditions set forth in Resolution No. 4, Series of 2002 approved by the Aspen Historic Preservation Commission approving a Final Review request for the Little Red Ski Haus Redevelopment WHEREAS, pursuant to Ordinance No. 11, Series of 2002 ("Ordinance'l, the City approved a Minor Planned Unit Development approval, Rezoning,to IUMF, Residential Multi- Family, With a Planned Unit Development and Lodge Preservation Overlay Zone Districts for the Project; and ' WHEREAS, the City and the Owners wish to enter into a PUD Agreement for the Project; and WHEREAS, the Owners have submitted to the City for Approval, execution and recordation, a final plat for the Project (the "Plat") and the City agrees to approve, execute and record the Plat at Owners' expense on the agreement ofthe Owners to the matters described herein, subject to the provisions of the Municipal Code of the City of Aspen (the "Code"), the Ordinance, and other applicable rules and regulations; and WHEREAS, the Ow-ners are willing to enter into such agreement with the City and to provide assurances to the City. NOW, THEREFORE, in consideration of the mutual covenants contained herein. and the approval, execution and acceptance of the Plat for recordation by the City. it is agreed as follows: Page 1 of 8 Little Red Ski HauL LLC PUD Agreement il- - - in ./01 2 i . 486840 *~immai mmi.mmui~i. 08/13/2003 09:51A Page: 2 Qf 8 SILVIA DAVIS PITKI COUNTY CO R 41 00 D 0.00 1. Description of Project, Demolition and mconstruction of portions of the existing lodge to provide for the addition of approximately 518 square feet of Floor Area Ratio ("FAR"), to reconfigure the existing lodge rooms by reducing the number of lodge rooms from 22 dormitory style rooms to 14 traditional lodge rooms, and to excavate beneath the original structure of the Little Red Ski Haus to accommodate planned dining and kitchen facilities. 2. PUD Dimensional Requirements. As set forth in Section 2, Condition 23 ofthe Ordinance, the following dimensional requirements were approved by the City as parr of the Project, are shown on the Final PUD Development Plans. and shall be printed on all final building permit plan sets: r. '.1Â· 1.. '. 1 . â€¢- - " ,'- *Â·tÂ·,Â·9r:Â·Ir~" r :e,r/Â·. 7'Â· ' c :/Â·4 .Â·-ree/VI'P-4 t. 4 1,9 .Â·.0310â€¢7"OF ' Minimum Lot Size (square feet) 14.500 Minimum Lot Area per Dwelling Unit N/A Maximum Allowable Density 14 Lodge Units Minimum Lot Width 45 feet Minimum Front Yard Setback 10 feet Minimum West Side Yard Setback .5 feet Minimum East Side Yard Setback .3 feet Minimum Rear Yard Setback .25 fcet Maximum Height 25 feet Minimum Distance b/w Buildings NAA Minimum Percent of Open Space Not Regulated Allowable Floor Area (FAR) 1.35:1 (6,035 sq. ft.) Minimum O ff Street Parking 1 3 on-site spaces 3. Acceptance ofPlat. Upon execution of this Agreement by the parties hereto, the City agrees to approve and execute the Final Plat for the Project submitted herewith copies; which conforms to the plat requirements of the Land Use Code and the Ordinance. The City agrees to accept such Plat for recording in the office of the Pitkin County Clerk and Recorder upon Owners' payment of the recordation fee. 4. Development Requirements. The following development requirements will be satisfied by Owners pursuant to Ordinance No. 11, Series of2002. a. Wastewater and Surface Drinace. The site development will meet the runoff dagn standards of the Aspen Municipal Code at Section 26.580.020(B)(6), Full soil reports. drainage plans, and erosion and sediment control plans for both during and after construction. will be submitted for review by the Engineering Department as part of the building permit application, The drainage and erosion control plan shall be prepared by a Colorado licensed Civil Engineer, and said plan shall demonstrate maintenance of sediment and debris on-site during and after construction. If a ground Page 2 0 f 8 Little Rcd Ski Ha m, LLC PUD Agreement TZ 01 .AAC / tiu..' 2 : ..: -IÂ·- -.-.i li? EN \Â·J, 1Â£.09 -. L --- ' ,/ 4/84 - â€¢A Ell 1]1 - ill- 11 1[ il litillilliftiiii 486840 Pago: 3 of 8 08/13/2003 00:51A SILLIA D VIS PITKII ..L..TY CO R 41.00 0 0,80 recharge system is necessary, a soil percolation report will be required to correctly size the facility. A two-year storm frequency should be used in designing and drainage systems. Rain and snowmelt runoff must be detained and routed on-site. These facilities must be shown on the drainage plans and submitted for approval as part of the application for building permit. Drainage may be conveyed to existing landscaped areas ifthe drainage report demonstrates that the percolation rates and detention volumes meet the design storm drain, The drainage and erosion control plans shall prevent mud from getting tracked into the streets and shall demonstrate that roof drainage will not be discharged onto the sidewalk or into drain chases through the sidewalk. There shall be no clear water connections such as roof drains, foundation drains, or storm water connections to rhe City Consolidated Sanitation District sewage lines. b. Utility Connections. Utility meters and service connection points will be accessible to service personnel in the completed project and will not be obstructed by garbage or recycling containers, other structures or vegetation. Any necessary and new utility easements, required for surface utilities such as pedestal or other aboveground equipment, shall be shown on tile plan ser submitted for building permits. The Owners shall install and replace utility service lines and appurtenances, as required, to the standard ofthc utility provider, The costs of any necess:ry upgrades to existing utility lines, systems, and/or facilities attributable to the Project will be borne by the Owners. The Owners will use good faith efforts to not disrupt utility service to adjacent properties during construction. Owners shall comply with the City of Aspen Water System Standards, with Title 25, and with applicable Mandards of Title 8 (Water Conservation and Plumbing Advisory Code) of the Aspen Municipal Code, as required by the City of Aspen Water Department. c. Fire Protection. Owner shall install an approved fire sprinkler system and alarm system to the extent required by the Aspen Fire Marshal. d. Dust 41Â¥1 Mud Control. Prior to the issuance of any building permits, Owner shall obtain from the City Environmental Health Depaltment approval of a -Fugitive Dust Control Plan. The Fugitive Dust Control Plan will include plans for fencing, watering of dirt roads and disturbed areas, daily cleaning o f adjacent paved roads to remove mud that has been carried OUr, speed limits, or other measures necessary to prevent windblown dust from crossing the property lines or causing a nuisance. Mud shall not be tracked onto City streets duing demolitions. A washed rock or other style inud rack shall be installed during construction as a requirement of the City of Aspen Streets Department. e. Construction Management Plans. There shall be no storage of construction materials in or on the public rights-of-way, A full set of construction management plans will be submitted by the Owners to the City as part of the Page 3 of 8 Dde Red Ski Haus, LLC PUD Agreement 2 22 9 0 0009 L. LOPY :W- 1 .ul L. 2 *Ill- Il l 1 'j ----j u 11 Il lilli 1 1 111 08/13/2003 09:5!A 840 Pal 4 of 8 ' 5 |LVIA DAU:5 r.-K.N COUNT-' CO R 41.00 0 0 00 building permit application and said management plan will include, noise, dust control, and construction traffic management plans aimed at addressing the following: (i) signal traffic control devices; (ii) press release via radio or local television: (iii) definition ofconstruction hauling routes and anticipated impacts on local streets; and (iv) construction parking mitigation where, except for essential trade trucks, no personal trucks are to be parked on public streets around the site, and shuttling in of personnel from the airport parking area is encouraged. Construction is prohibited on Sundays and between the hours of 7:00 p.m. and 7:00 a.m. on atl other days. f, Future Impiovement District(s). Owners :agree lo join any future improvement district(s) formed for the purpose of constructing public improvements, which directly benefit the property under a fair share assessment formula. Prior to the issuance of a Certificare of Occupancy for any part of the Project, Owners agree to Sign a sidewalk, curb and gutter construction agmement and pay any applicable fees associated therewith. g. Exterior Lighting and Streetlights, Any and all outdoor lighting shall comply with the applicable portions of Section 26.575.150, Outdoor Lighting, of the Aspen Land Use Code. If the existing streettights are disturbed or damaged during construction, they shall be repaired or replaced in kind, as required, in alignment with the other strcctlights along the subject street. h. Sidewalk, Curb and Gut* Improvements. As part of the Project, Owner shall construct a sidewalk including curb and gutter meeting City specifications and plans to protect the tree in the parkway. If Owner chooses to heat the new sidewalk for snow and ice melting purposes, there shall be no use of Glycol and the City shall not be required to replace or repair the heating system if the City ever has to cause damage to said system en route to completion of necessary work in the right-of-way. i. Trees, Protection. Owner shall submit a tree protection plan to the Parks Department for review prior to the application for building permits. An inspection of all tree protection shall take place before any construction activities begin. A construction fence shall be installed at the drip line of the Cottonwood to be saved to the south of the structure: (i) The City Forester or his/her designee must inspect this fence before any construction activiries commence; (ii) No excavation. storage of mamnals, storage ofconstruction equipment, construction backfill, foot or vehicular traffic shall be allowed within the drip line: (iii) Owner shall hand excavate the existing walkway being removed to protect the root system of the protected Cottonwood Tree. j. Buildinezermit Plan Requimments. In addition to such requirements enumerated above and otherwise required by the City of Aspen Building Department, the following information shall be submitted as part of the building permit application: a construction dust and noise mitigation plan; a Page 4 of 8 Uttle Red Ski Haus. LLC PUD Agreement 4 A 1.1 1 , .- --- i. A -- â€¢:- 1 0 U , L '.' 1.' 0 1 1 Lor 'V â€¢Il /,Al i.1 7133 ~0~*11 LE:.0 SILVIA ORVIS PITKIN COUNTY CO R 41.00 0 0.00 list of all conditions of approval associated with the Project; a completed tap permit for service with the Aspen Consolidated Sanitation Districr a site improvement survey prepared by alicensed professional surveyor where said survey includes, as a minimum, monuments, setback lines, utility lines, pedestals and poles, easements, existing features (irrigation ditches. sidewalks, driveways, buildings, trees. etc.), and the surveyor's seal dated within twelve (12) months of the submittal; and plans for all improvements, snow storage, and utility pedestals. k. Asbestos. Owners shall notify the State prior to remodel expansion or demolition of any buildings, including removal of drywall, carpet, tile, etc., and a licensed asbestos inspector must conduct an inspection. If there is no asbestos, the demolition can proceed, If asbestos is present, a state licensed asbestos removal contractor must remove it. Owners shall report these findings to the Environmental Health Department and Building Department prior to the issuance of demolition and building permits. 5. Recordation. Pursuant to Section 27.480.070(E) of the Aspen Land Use Code, once fully executed, this Agreement and the Final Plat shall be recorded in the office of the Pitkin County Clerk and Recorder. Failure on the part of the Owners to record the plat within one-hundred eighty (180) days following approval by City Council shall render the plat invalid and reconsideration and approval of the plat by the Planning and Zoning Commission and City Council will be required before its acceptance and recording, unless an extension or waiver is granted by City Council for showing good cause. 6. Financial Security for Public Improvements. In order to secure the performance of the construction and installation ofthe public improvements described above, Owners shall provide a financial instrument in terms of a letter of credit, cash or other guarantees in a form satis factory to the City prior to the issuance o f any building permits for the Project. As part of the building permit application, a list and quantity of the ROW improvements being guaranteed, as estimated by the Owner's engineer or contractor, will be submitted to the City for review. The guarantee documents shall give the City the unconditional right, upon clear and unequivocal default by the Owners in its ob]igations to complete the public improvements, to withdraw funds against such security sufficient to complete and pay for installation for such public improvements, or to withdraw funds against such security sufficient zo Complete and pay for installation for such public improvements. As portions of The improvements are completed, the City shall inspect them, and upon approval and acceptance,The City shall authorize the releases of the agreed estimated costs for thar portion of the improvements. except that ten percent of the estimated costs of the improvements shall be withheld for the benefit of the Cily until the completion of all of the described public improvements. The Owners shall require all contractors to provide the City with a two-year maintenance bond to ensure the expecred performance of the improvements. In the event that any existing municipal improvements are damaged during the Project construction, on request by the City Engineer, a security suitable Page 5 0 f 8 Lictle Red Ski Haus, LLC PUD Agreement Al A.*A 9-EWART TITLE AirEN .Sy, 5,2. 2:H.:2 L Â·4841 Un 1/22 I 'F \U. 74/1 - - 11111- 1111-111 1-1- 1 lilillifilillillitill Pag/: 6 cf 0 ~ 48684W 08/13/2003 09 51A SILVIA C. VIS PITKI CL:.T< CO R 41.00 D 0.00 for the repair or replacement of those municipal improvements shall be provided by Owners to the City. 7. Notices. Notices to the parties shall be sent by United States certified maiI to the addresses set forth below or to any other address which the parties may substitute in writing: To the Owners: David R. Fiore PIincipal Managing Partner Little Red Ski Haus, LLC 3640 Falkner Drive Napenille, IL 60564 With Copy to: Beverly H. Fiore Business Manager Little Red Ski Haus, LLC 118 East Cooper Avenue - Box 8288 Aspen, CO 81612 To City ofAspen: City Manager 130 South Galena Street Aspen, CO 81611 With Copy to: City Attorney 130 South Galena Street Aspen, CO 81611 8. Binding Effect. The provisions o f this Agreement shall run with and constitute a burden on the land on which the Project is located and shall be binding on and inure to the benefit of the Owners' and the City's successors, personal representatives and assigns. 9. Amendment, The Agreement may be altered or amended only by written instrument executed by the parties. 10. Severabilitv. If any of the provisions of this Agreement are determined to be invalid, it shall not affect the remaining provisions hereof Page 6 of 8 Li ttle Red 5kf Hous, LLC PUD Agreement 0 21 4 7 C , 2 cAl,AC VE :L1 6-EWAT- -.-LE ASPEN '... ' ./ . .. STATE OF COLORADO ) ,#-i~ipp*'40 jss. ~ .RE 'j 1 COUNTY OF PIT'KIN , 1 C en#AN /-O 8 CA /90 The foregoing instrunlent was ~efore me this ~ay O.-0.138.IL,ow, 20(3 by Helen Klanderud, Mayor, and I4~ch, City Clerk. Witness my hand and official seaJ, My commission expires: 41!101- 4,4 *602 ~otary Public STATE OF ILLINOIS 1- - ill - fill- 1 1 fil I li El Lil lifil 4-1; 1 - 08/13/2003 09'510 ~ 486840 Pagâ€¢: 8 of 8 )SS. SILCIA CALIS PITKI - .OUNTY CO R 41.00 0 0100 COUNTY OF LAKE ) The foregoing instrument was acknowledged before me this /9.>lay of September, 2002, by David R. Fiore, Principal Managing Partner, Little Red Ski Haus, LLC. Witness my hand and official seal. My commission expires: ~OFFICIAL SEAL Slavan B. Bongerd NOMY Public. State Di 111*8 Lssur-f My Comm186!on Ex'.reÂ· Al.24-200Â¢ Notary Public / STATE OF ILL]NOIS ) )Sgt COUNTY OF LAKE ) The foregoing instrument was acknowledged before me this /Â¢T day of September, 2002, by Michael P- LÂ¢Tourneau, Managing Partner Renovation, Little Red Ski Haus, LLC. Witness my hand and official seal. My commission expires: 1 9FICALEF---1 Notary Public / Ste- 8. Rongard 1 Nly PuNc, State ot â€¢rloh } My Coll,-on Exp[res 01Â·24.2004 Page 8 of 8 Little Red Ski Haus, LLC PUD Agreement Mr: 3/00 11 .1 / - I I jill: I 1 Kill Ilifi- 3f: 1 li I IC ililitllfill illi 08/13/2003 09:51A 486840 Page: 7 af 8 SILVIA CAL.:S FITKI C ENT( CO R 41.00 0 0,00 ATTEST: THE CITY OF ASPEN, a municipal corporation lin\ 4 ~f*44.C /712,4-1__ Kabyn S#oct City Clerk bf@len'K]affde?hndAÂ¢Qyar,~ APPROVED AS TO FORM: 1-94,1 01(RÂ£ shÂ·44 Johnivorcester, City Attorney LITTLE RED SKI HAUS, LLC f tb 4 \ l>7 461 221Â« - David R. Fioreg/ Michael P. LeToumeau, Principal Mandging Partner Managing Partner Renovation Page 7 of 8 Liltle Red Ski Haus, LLC PUD Asreement ~. A'.A 10 906Â· 2,4729 3:.MAR, ..1-c Abr:N \18 U/- I '... 12/1.... 1 ''U, /-2/ 486 1 , 1 111111111 - 11 1-1111 lilli 11111111 lili 11 Page: 1 of 8 08/13/2003 09:51A SILWQ Cm.5 P!-1 4 Â·-L..2-f CO R 41 00 D 0.00 PUD AGREEMENT FOR THE LlrELE RED SKI HAUS PROJECT THIS AGREEMENT is made this -2-*2_ day of September, 2002, between the LI-ITLE RED SKI HAUS, LLC, a Colorado corporation, (the "Owners") and THE CITY OF APSEN, a municipal corporation (the "City:). WITNESETH: WHEREAS, The Owners own that certain real property (the "Properoo known as the Little Red Ski Haus, located at 118 East Cooper Avenue in the City ofAspen, County of Pitkin. State of Colorado, legally described as: Lot O and the western half of Lot P, Block 69, City and Townsite of Aspen. County of Pitkin, State of Colorado; and, WHEREAS, the Property is being redeveloped by the Owners as follows, where said redevelopment is hereinafter referred to as the "Project": â€¢ The Project includes all conditions set forth in Resolution No. 4, Series of 2002 approved by the Aspen Historic Preservation Commission approving a Final Review request for the Little Red Ski Haus Redevelopment, WHEREAS, pursuant to Ordinance No. 11, Series of2002 ("Ordinance'D, the City approved a Minor Planned Unit Development approval, Rezonin*to IUMF, Residential Multi- Family, With a Planned Unit Development and Lodge Preservation Overlay Zone Districts for the Project; and WHEREAS, the City and rhe Owners wish to enter into a PUD Agreement for the Project; and WHEREAS, the Owners have submitted to the City for Approval, execution and recordation, a final plat for the Project (the "Plat") and the City agrees to approve, execute and record the Plat at Owners' expense on the agreement of the Owners to the matters described herein, subject to the provisions of the Municipal Code ofthc City of Aspen (the "Code"), the Ordinance, and other applicable rules and regulations; and WHEREAS, the Owners are willing to enter into such agreement with the City and to provide assurances to the City. NOW, THEREFORE, in consideration ofthe mutual covenants contahied herein, and the approval, execution and acceptance of the Plat for recordation by the City. it is agreed as follows: Page 1 of 8 Little Red Ski Haui, LLC PUD AgrNment CZE 06 -- 4 't I Aciz -\1 \10 2/ co - 486840 - - linY\11%11\1-1\ ill\Uilit\11\ wiurl\*ju.I 08/13/2003 09:510 Page: 2 of 8 SILLIA DAVIS PITK: COUNTY Co R 41.00 0 0.00 t. Description of Proiect. Demolition and reconscuction of portions of the existing lodge to provide for the addition of approximately 518 square feet of Floor Area Ratio ("FAR'3, to reconfigure the existing lodge rooms by reducing the number of lodge rooms from 22 dormitory style rooms to 14 traditional lodge rooms, and to excavate beneath the original structure ofthe Little Red Ski Haus to accommodate planned dining and kitchen facilities. 2. PUD Dimensional Requirements. As set forth in Section 2, Condition 23 ofthe Ordinance, the following dimensional requirements were approved by the City as part o f the Project, are shown on the Final PUD Development Plans. and shall be printed. on all final building permit plan sets: 1 ,.A P.,0,4-1.'1971 Minimum Lot Size (square feet) 4300 * 1 Minimum Lot Area per Dwelling Unit N'.4 Maximum Allowable Density 14 Lodge Units Minimuni Lot Width 45 feet Minimum Front Yard Setback 10 feet Minimum West Side Yard Setback .5 feet Minimum East Side Yard Setback .5 feet Minimum Rear Yard Setback .25 fcet Maximum Height 25 feet Minimum Distance b/w- Buildings N/A Minimum Percent of Open Space Not Regulated Allowable Floor Area (FAR) 1.35:1 (6,035 sq. ft) Minimum Off Street Parking ~ 3 on-site spaces 3. Acceptance of Plat. Upon execution ofthis Agreement by the parties hereto, the City agrees to approve and execute the Final Plat for the Project submitted herewith copies: which conforms to the plat requirements of the Land Use Code and the Ordinance. The City agrees to accept such Plat for recording in the office of the Pitkin County Clerk and Recorder upon Owners' payment of the recordation fee. 4. Development Requirements. The following development requirements will be satisfied by Owners pursuant to Ordinance No. 11, Series of 2002. a. Wastewater and Surface DrainaÂ«e. The site development will meet the runoff design standards of the Aspen Municipal Code at Section 26.580.020(B)(6). Full soil reports, drainage plans, and erosion and sediment control plans for both during and after construction. will be submitted for review by thc Engineering Department as part of the building permit application, The drainage and erosion control plan shall be prepared by a Colorado licensed Civil Engineer, and said plan shall demonstrate maintenance of sediment and debris On-site during and after construction- If a ground Page 2 0 f 8 Little Rcd Ski Haus, LI.C PUD Agrecment I - - -' . .1 9 / Â·- ./' '.- i -, Â·.' 2,..0 . a. L./7 Ly 6 - E :An- -.--2 AS: E N ,\,01 9139 21 12 - - 1]1----111111 11-- 1 -il-lili 11 111 111111111111 486840 Pag.: 3 of 8 08/13/2003 00:51A SILFIA C VIS PITKIN ..UN-TY CO R 41.00 0 0.30 recharge system is necessary, a soil percolation report will be required to correctly size the facility. A two-year storm frequency should be used in designing and drainage systems. Rain and snowmelt runoff must be detained and roured on-site. These facilities must be shown on the drainage plans and submitted for approval as parr of the application for building permit. Drainage may be conveyed to existing landscaped areas ifthe drainage report demonstrates that the percolation rates and detention volumes meet the design storm drain, The drinage and erosion control plans shall prevent mud from getting tracked into the streets and shall demonstrate that roof drainage will not be discharged onto the sidewalk or into drain chases through the sidewalk. There shall be no clear water connections such as roof drains, foundation drains, or storm water connections to the City Consolidated Sanitation District sewage lines. b. Utility Connections. Utility meters and service connection points will be accessible to service personnel in the completed project and will not be obstructed by garbage or recycling containers, other structures or vegetation. Any necessary and new utility easements, required for surface utilities such as pedestal or other aboveground equipment, shall be shown on the plan ser submitted for building permits. The Owners shall install and replace utility service lines and appurtenances, as required, to the standard of thc Utility provider. The costs of any necessary upgrades to exi sting utility lines, systems, and/or facilities attributable to the Project will be borne by the Owners. The Owners will use good faith efforts to not disrupt utility service to adjacent properties during construction. Owners shall comply with the City ofAspen Water System Standards, with Title 25, and with applicable standards of Title 8 (Water Conservation and Plumbing Advisory Code) o f the Aspen Municipal Code, as required by the City of Aspen Water Department. c. Fire Protection. Owner shall install an approved fire sprinkler system and alarm system to the extent required by the Aspen Fire Marshal. d. Dust and Mud Control. Prior to the issuance o fany building permits, Owner shall obtain from the City Environmental Health Department approval of a Fugitive Dust Control Plan, The Fugitive Dust Control Plan will include plans for fencing, watering of dirt roads and disturbed areas, daily cleaning of adjacent paved roads to remove mud that has been carried out, speed limits, or other measures necessary to prevent windblown dust from crossing the property lines or causing a nuisance. Mud shall not be tracked onto City streets during demolitions. A washed rock or other style mud rack shall be installed during construction as a requirement of the City of Aspen Streets Department. e. Construction Management Plans. There shall be no storage of construction materials in or on the public rights-of-way, A full set of construction management plans will be submitted by the Owners to the City as part of the Page 3 of 8 Littic Red Ski Hats, LLC PUD Agrecmcit .... 9 â€¢A I .i, Z,Â·'' C L Lorlyl . -04,4 951 .4.4 r Z *. J /' 36840 - 9 li Ill Irilli Wil 11111.Ii lii Ili#lilli i Page: 4 of 8 08/13/2003 09:51A 5:LVIA DÂ¢:b.5 Pi TKIN COUNTY CO R 41.00 D 0 00 building permit application and said management plan will include, noise, dust control, mid construction traffic management plans aimed at addressing the following: (i) signal traffic control devices; (ii) press release via radio or local television; (iii) definition of construction hauling routes and anticipated impacts on local streets; and (iv) construction parking mitigation where, except for essential -trade trucks, no personal trucks are to be parked on public streets around the site, and shuttling in of personnel from the airport parking area is encouraged. Construction is prohibited on Sundays and between the hours of 7:00 p.m. and 7:00 a.m. on all other days. Â£ Future Improvement District(51. Owners agree to join any future improvement district(s) formed forthe purpose ofconstructing public improvements, which directly benefit the property under a fair share assessment formula. Prior to the issuance of a Certificate of Occupancy for any part of the Project, Owners agree to sign a sidewalk, curb and gutter construction agreement and pay any applicable fees associated therewith. g. Exterinr Lighting and Streetlights, Any and all outdoor lighting shall comply with the applicable portions of Section 26.575.150, Outdoor Lighting, of the Aspen Land Use Code. If the existing streetlights are disturbed or damaged during construction, they shall be repaired or replaced in kind, as required, in alignment with the other strcetlights along the subject street. h. Sidewalk. Curb and Gutter Improvengnd. As part of the Project, Owner shall construct a sidewalk including curb and gutter meeting City specifications and plans to protect the tree in the parkway. If Owner chooses to heat the new sidewalk for snow and ice melting purposes, there shall be no use of Glycol and the City shall not be required to replace or repair the heating system i f the City ever has to cause damage to said system en route to completion of necessary work in the right-of-way, i. Trges, Prglection. Owner shall submit a tree protection plan to the Parks Department for review prior to the application for building permits. An inspection of all tree protection shall take place before any construction activities begin. A construction fence shall be installed at the drip line of the Cottonwood to be saved to the south ofthe structure: (i) The City Forester or his/her designee must inspect this fence before any construction activiries commence; (ii) No excavation, storage of marerials, storage of construction equipment, construction backfill, foot or vehicular traffic shall be allowed within the drip line: (iii) Owner shall hand excavate the existing walkway being removed to protect the root system of the protected Cottonwood Tree. j. Building Permit Plan Requilbments. In addition to such requirements enumerated above and otherwise required by the City of Aspen Building Department, the following information shall be submitted as part of the building permit application: a construction dust and noise mitigation plan; a Page 4 of 8 1.ittic Rcd Ski Haria. I.LE PUD Agicement .A 'Al/ , A I./.1 .1 P ./ 3-EAAE- 76-'- Air,\ 2 -L ... i- J ' 6840 r.g.. 5 a f 8 ' Humum,Miumiumwi,Immu,Imwim 08/10/2003 09:51A SILVIA DAVIS PITKIN COUNTY CO R 41.00 0 0.00 list of all conditions of approval associated with the Project; a completed tap permit for service with the Aspen Consolidated Sanitation District; a site improvement survey prepared by a licensed professional surveyor where said survey includes, as a minimum, monuments, setback lines, utility lines, pedestals and poles, easements, existing features (irri gation ditches, sidewalks, driveways, buildings, trees. etc.), and the surveyor's seal dated within twelve (12) months o f the submittal; and plans for all improvements, snow storage, and utility pedestals. k. Asbestos. Owners shall notify the State prior to remodel, expansion or demolition of any buildings, including removal of drywall, carpet, tile, etc., and a licensed asbestos inspector must conduct an inspection. If there is no asbestos, the demolition can proceed, If asbestos is present, a state licensed asbestos removal contractor must remove it. Owners shall report these findings to the Environmental Health Department and Building Department prior to the issuance o f demolition and building permits. 5. Recordation. Pursuant to Section 27.480.070(E) of the Aspen Land Use Code, once fully executed, this Agreement and the Final Plat shall be recorded in the office of the Pitkin County Clerk and Recorder. Failure on the part of the Owners to record the plat within one-hundred eighty (180) dayE following approval by City Council shall render the plat invalid and reconsideration and approval of the plat by the Planning and Zoning Commission and City Council will be required before its acceptance and recording, unless an extension or waiver is granted by City Council for showing good cause. 6. Financial Security for Public Impmvements. In order to secure the performance of the construction and installation of the public improvements described above, Owners shall provide a financial instrument in terms of a letter of credit, cash or other guarantees in a form satis factory to the City prior to the issuance of any building permits for the Project. As part of the building permit application, a list and quantity of the ROW improvements being guaranteed, as estimated by the Owner's engineer or conrractor, will be submitted to the City for review. The guarantee documents shall give the City the unconditional right, upon clear and unequivocal default by the Owners in its obligations to complete the public improvements, to withdraw funds against such security sufficient to complete and pay for installation for such public improvements, or to withdraw funds against such security sufficient to complete and pay for installation for such public improvements. As portions of the improvements are completed. the City shall inspect them, and upon approval and acceptance, the City shall authorize the releases of the agreed estimated costs for thar portion of the improvements, except that ten percent of the estimated costs of the improvements s-hall b: withheld for the benefit of the City until the completion of all of the described public improvements. The Owners shall require all contractors to provide the Ciry with a two-year maintenance bond to ensure the expecred performance of the improvements. In the event that any existing municipal improvements are damaged during the Project construction, on request by the City Engineer, a security suitable Page 5 of 8 Little Red Sk H aus, LLC PUD Agrecmcal - ..I-t ;in '/C' I ' IC-2 06 1,1.10 /,/ACU 6-E#Af. 1:i LE AD Z\ ,\ U. 9 -.7 1 L Loi v q- lili -. I 4 486840 1111 1 111111 lili- 1 1111 lilicil lilli 1111 1 Page: 6 Of 8 08/13/Z003 09:51A 31Lv:A C~VIS Pi-KI CuL. Tf CO R 41-00 D 0.00 for the repair or replacement of those municipal improvements shall be provided by Owners to the City. 7. Notices. Notices to the parties shall be sent by United States certified mail to the addresses set forth below or to any other address which the parties may substitute in writing: To the Owners: David R. Fiore Principal Managing Partner Little Red Ski Haus, LLC 3640 Falkner Drive Naperville, ]L 60564 With ConY to: Beverly H. Fiore Business Manager Little Red Ski Haus, LLC 118 East Cooper Avenue - Box 8288 Aspen, CO 816] 2 To Citv of Aspen: City Manager 130 South Galena Street Aspen, CO 81611 With Copy to: City Attorney 130 Souch Galena Street Aspen, CO 81611 8. Binding Effect. The provisions o f this Agreement shall run with and constitute a burden on the land on which the Project is located and shall be binding on and inure to the benefit ofthe Owners' and the City's successors, personal representatives and assigns 9. Amendment, The Agreement may be altered or amended only by written instrument executed by the parties. 10. Severability. If any ofthe provisions of this Agreement are determined to be invalid, it shall not affect the remaining provisions hereof. Page 6 0(8 Little Red Ski Haus, LLC PUD Agreement . A'.A -- . I -- 11.- . .....' \1, 3 :/1-c - \ -WAH! 11;:4 24--7 'n /'All - .- 'U, I-.I STATE OF COLORADO ) /illippfo COUNTY OF PITKIN )ss. fÂ¥ JACKIE \ 1 The foregoing instrument was aÂ®,01*~~efore me this _~#'llay o~ 203 by Helen Klanderud, Mayor, and I~~ch, City Clerk. Witness my hand and official seaj, My commission expires: ~'/Â·~/*- 9,4 *62 ~otary Public STATE OF ILLINOIS 1-1 1,1 1-1]mill]lilli 08/13/2003 09:519 486840 Pago: 8 of 8 )SS. 9 IL IA C.I.~ IS PfTKi . COL -TY C J R 41.00 0 0100 COUNTY OF LAKE ) The foregoing instrument was acknowledged before me this /filay of September, 2002, by David R. Fiore, Principal Managing Partner, Little Red Ski Haus, LLC. Witness my hand and official seal. My commission expires: OFFICIAL SEAL' Slmr,n B. Borgard No# Public, Slate of 11]inoa )#CommIss# Ex,irÂ·01 '11.24-2004 - Notary Public / STATE OF ILL]NOIS ) )SS, COUNTY OF LAKE ) The foregoing instrument was acknowledged before me this /~--3ay o f September, 2002, by Michael P- LeToumeau, Managing Partner Renovarion, Little Red Ski Haus. LLC. Witness my hand and official seal. My commission expires: / - Notary Public / ~--vPFICIAL SEAL' 1 St- B. Bongard ~ Nly P* St#te of winob ~ j My Con *on Expires 01Â·262004 1 Page 8 of 8 1-inle Red Ski Haus, LLC P U D Agreement 9 zWAY '.IL: Abrit VA ar:a 2 -6 1 1114] 1 --1-4][1-El-ilifill lulluitillil ~ 486840 Page: 7 ef 8 08/13/2003 09:SlA SILVIA C VIL PIT I JOL,CY CO R 41.00 0 0.00 ATTEST: THE CITY OF ASPEN, a municipal corporation / f Z-4.- 1 ! 1/F \ A 1Â»-*44Â« /f-Â«\IJ,-1--0-- Kal.hryn S,,*ch, City Clerk Hilen IdÂ£Ghnd;Miyki APPROVED AS TO FORM: 1-10901u.ZA shÂ·ile JohnivorMester, City Attorney LITTLE RED SKI HAUS, LLC ~-~>gic r-7 (/11 4, Il>7 */.p21Â«_- - David R. FiorÂ©90 Michael P. LeToumeau, Principal Managing Partner Managing Partner Renovation Page 7 of 8 Little Red Ski Haus, LLC PUD Agreemen r L William R. Gougdr JD, CPA ((IRA Inactive) Gougar &c Robert J. Hooke JD, MA Michael P. Franzmann JD, LLM, CPA Franzmann, LLC Lori C. Pappas JD, LLM* Jeffrey C. Keiffer JD, CPA (CPA Inactive) Attorneys & Counselors at Law *Also Admitted in Ohio A.Â«al Appicel-I 67 4Â®1 2 66 < Up pif CO 4 Wl C.811.C~ A-'16Â£.1 5 FRACTIONAL OWNERSHIP DEVELOPMENT PROPOSAL Submitted by Goug6r & Franzmann, LLC Attorneys and Counselors at Law on behalf of LITTLE RED SKI HAUS, LLC TAXATION ' ESTATE PLANNING ' BUSINESS LAW â€¢ REAL ESTATE 400 Inverness Parkway, Suite 250 â€¢ Englewood, CO 80112 â€¢ Phone 720-266-1040 â€¢ Fax 720-266-1041 â€¢ www.GFIaw firm.com . Table of Contents 1. Land Use Application 2. Evidence of Deposit ' 3. Designation of Representative 4. O&E Report 5. Area Map 6. Agreement for Payment of City of Aspen Development Application Fee 7. Pre-application Summary 8. Fractional Ownership Development Proposal 9. Fiscal Impact Analysis 10. Final PUD Plan 11. PUD Agreement 12. Mailing List . ATTACHMENT 2 -LAND USE APPLICATION APPLICANT: Name: Little Red Ski Haus, LLC Location: 118 E. Cooper Avenue, Aspen, CO 81611 ( Indicate street address. lot & block number. legal description where appropriate) Parcel [D = c R-EOUIRED) REPRESENT \ nVE: ' Name: Michael P. Franzmann, Esq. Address: 400 Inverness Parkway, STE 400 Englewood. CO 80112 Phone =: (720) 266-1040 -- PROJECT: Name: Little Red Ski Haus - Timeshare Development Address: 118 E. Cooper Avenue, Aspen, CO 81611 Phone =: (970) 925-3333 TYPE OF APPLICATION: (please check atl thar apply j Conditional Use E Conceptual PUD E Conceptual Historic Devt. Special Revew I Final PLD (& PUD.Amendment) 2 Final Historic Development Design Review- Appeal E Conceptual SPA E Minor Historic Devt. GMOS .Allotment E Final SPA C & SPA Amendment) L Historic Demolition 2 GMC)S Exemption E Subdivision E Historic Designation E ESA - 8040 Greentine. Stream 2 Subdivision Exemption (includes 2 Small Lodge Conversioni Margin. Hallam Lake Bluff. condominiumization) Expansion Mountain View Plane E Lot Split E Temporary Use I Other: Timeshare - U Lot Line Adiustment U Text' Map Amendment EXISTING CONDITION.S: (description of existing buildings. uses. previous approvals. etc.) Citrrenrlv operated as an historical bed & breakfast lodging establishment - PROPOSAL: C description of proposed buildings. uses. modifications. ete. 1 1 Conversion of lodge to timeshare development - Have you attached the following? FEES DUE: S .2. 725' E Pre-Application Conference Summary Â® Attachment = 1. Sitmed Fee Agreement ~ p, @ Response to Attachment #3. Dimensional Requirements Form LE Response to Attachment 84. Subminal Requirements- Including Written Responses ro Review Standards All plans that are larger than 8.5" r 11" must be folded and a floppy disk with an electronic copy of all written text (Microsoft Word Format) must be submitted as part of the application. C_]LIE]LI . WELLS FARGO BANK WEST, N.A. 387! 5601 S. Broadway GOUGER & FRANZMANN, LLC Littleton. CO 80121 ATTORNEYS & COUNSELORS AT LAW www.wellsfargo.com 400 INVERNESS PARKWAY, SUITE 250 23-7/1020 ENGLEWOOD, CO 80112 09/30/2003 (720) 266-1040 PAY TO THE City of Aspen - **2.585.na ORDER OF Two Thousand Five Hundred Eighty-Five and DO/100 ********************************************.***************.*********** DOLLARS City of.Aspen 130 South Galena .Aspen. CO 8161 1 ~- //7/9 //PlicrÂ»/f////) /~ 11\93 2, 1 /1 .3 2/ MEMO - Ill-- Little Red Ski Haus . 1 Â· .1. -1 mt, '-: 1. ' t' 4- -31175~72Ef~ Ii' 00 38 7 9 ti' i. 10 20000 7 61:2 2 680 1 684 3 4 11% 111 '. September 29,2003 Little Red Ski Haus. LLC 118 E. Cooper Avenue Aspen. CO 81611 I James Lindt City of Aspen 130 S. Galena Street. 22,0 Floor Aspen. CO 81611 RE: Little Red Ski Haus, LLC Timeshare Development Application i Dear Mr. Lindt This letter is submitted in satisfaction of requirement number 3 under the City of Aspen Pre- Application Conference Summary pertaining to the above referenced applicant. The applicant hereby designates the following as ltS representative authorized to act on behalf of the applicant: Gougdr & Franzmann. LLC i Attorneys & Counselors at Law 400 Inverness Parkway. STE 250 Englewood. CO 80112 (720) 266-1040 i Please find the required information pertaining to the street address. legal description, and recorded title documents attached hereto as Exhibit A. Sincerely yours. Little Red Ski Haus. LLC (_00Â» 6 L-; / By: Davicf~flore. its r~lanaging member DR_F Enclosures - UR 9 ,4 31,=PCA ~Â·., 4 ..i .6 ..b'â€¢0% 4 1 t W J lilli - title of aspen OWNERSHIP AND ENCUMBRANCE REPORT Order No.: 41916 Prepared For: STEAART TITLE OF ASPEN, INC. HEREBY CERTIFIES from a search of the books in this office that title ro Lot 0 and the West one-half of Lor P. Block 69, CITY .AND TOWNSITE OF ASPEN. COUNTY OF PITKIN. STATE OF COLORADO. situated in the County of Pitkin. State of Colorado, appears to be vesred in the name of: LITTLE RED SKI HAUS, LLC and thai tile above described property appears to be subject to the following liens: 1. A Deed of Trusr dated December 20, 2001, executed by Little Red Ski Haus: LLC to the Public Trustee of Pitkin County. to secure an indebtedness of S1,200.000.00, iii favor of Hinsbrook Bank and Trust. recorded December 20,2001 as Reception No. 462100. NOTE; Assignment of Rents recorded December 20, 2001 as Reception No. 462101 given in connection with the above Deed of Trust. 2. A Deed of Trust dated December 20. 2001, executed by Little Red Ski Haus. LLC to the Pubiic Trustee of Pirkin County, to secure an indebredness of 5300,000.00, in favor of Marjorie Babcock, formerly known as Maljorie Babcock Riley. Trustee under that Unrecorded Living Trust AgreemenI Dated November 9 1988, recorded December 20, 2001 as Reception No. 462102. NOTE: Subordination Agreement recorded July 15, 2002 as Reception No. 469847. 3. A Mongage dated April 12,2002: execured by Little Red Ski Haus, LLC, to secure an indebtedness of 5900,000.00, in favor of Hinsbrook Bank and Trast recorded July 15, 2002 File Number- 41915 Ste\van Titt C or ,Â·doen, 111c. O & E Repon Page i Of 2 . as Reception No. 469848 JO'TIE: Assignment of Rents recorded July 15, 2002 as Reception No. 469849 given in connection with Ihe above Deed of Trust, 4. Notice Extending Time To File Lien Statement naming lien claimant as Western Stares Fire Protection Co.. recorded April 25,2003 as Reception No, 481913. EXCEPT any and all taxes and assessments. EXCEPT all easements. rights ofway, restrictions and rese:vations of record. This report does nor reflect any of the following matters: 1 Bankruptcies which, from date of adjudication of the most recent bankruprcies. antedate the reI)orr by more [han fourteen (14)years. 2. Suits and judgments which, from date of entry, antedate the report by more than seven (7) years or until the governing sratue oflimitations has expired, whichever is the longer period. 3. Unpaid tax liens which, from daze of payment, antedate the report by more than seven vears. Although we believe the facts stated are true. this letter is not ro be construed as an abstract of tiTle. nor an opinion of title. nor a guaranty of title. and it is understood and agreed that Stewart Title of Aspen, Inc., neither assumes. nor will be charged wirh any financial obligation or liability whatever on any sraIement contained herein. Dated: September 23,2003 ar 8.00 a.m., at Aspen, Colorado STEWART TITLE OF ASPEN, INC. By/5;99510 .*rforized b*nature File NumberÂ· 419'.4 itcÂ·.'.Â·art Tioc st.,snon. k. O & E Repor ? age 2 0Â£2 4' " -t.* C 'En>_, SHADOW MOUNTAIN . ..... 1 . OL,ru ~ ~~ "~~4 ~~,~'r. - CONOOMINIUMS ..,73- A J .... -_.?ff.794 .2 2.-*ice A M. C. LIFI 2.1 Â·7341 44., I Â·Â· ; 9,4 . 0 â‚¬ 4 r I . /'A - '- -*0. LÂ·Â· I 4 4 ''' r,1.*Â·17 'b..1- .9 . - . . . ' .- -I - 'Uvi . ..3: Â·- , 4 ~' ;in L... ~~~:ri r. I ..0. 'Â·43 21Â· SMC i HIEE> 1Â». 1 ~ /N 2 ~' .~ J .> ..4, - V. - re.4 .1 . -7 14'Y,<4â‚¬-4 '-ah, 1 3 .- 4.4, ...pr, . A. - . . 4 ... .. 1*32@9 . ENARK ST t~ N' f.- 2~411 21~ e .'.0 Wt s - , p Â·1 1 GILBERT ST :4.. Â«:"-~'-~~21-_,34Â·,1 c -.. In 1.1.4,~ , - rOAt L :- 6 r 'Uâ€¢Y.' ~ i :2:9**&4/. ix -Â·. Â· --... .'-Â· ~ + 3, iftâ‚¬, L THE ST REGIS ASPEN Â·-1 .1Â£1 6,-- Chale, 1 TELEMARK Sle'Knouse - ---- ; 4 4 - Mt 25. {1 5 -, U 12 2- 42 3%=73= AEERA.ippilly-1 -- CONOOMINIUMS -- ./.7. * I ..1 â€¢ 1 . , A JUANST:.~,~ Â·Â·fbea. u I. 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O @ M ,~EES. 3 1 . 72 -rt-71- ~T'tIll~//99(3:33~'~ ~~17 , - d .1 ' 'izf~ rn,a. -1Â» 16 'A,I. 4 4 2 A<(TLVTE Aspen Soons Cards & Great Divide MuÂ·,Ic Store c.,rn ,, ~ 0 - - LA-6,-cale., Coilectables A 1 m . 51 th ..-(5?fe.n 31.Â»'* 1~ 9+413lA .771 4 1 *3925= - Fa- A ..:. /C $:22*j,m The Miners Alfl~rler'. entrance io Asoer, Potter'; . -- Â· CO .Â»42 Â» n Building Ani,i,ues -NoDu Matkihiga cxplorp Main blreet ue Value Hardware ASPEN MOUNTAIN LODGE AOLLY GIBSON = Rali Shack ';~~~ rhe Stllch Booksellers Bake,Y & C,,te LODGE INNSBRUCK INN +AUBERGE DÂ· ASPEN n Ind Works 1 8â€¢stro I, 2/'/, 'L :'., I The Kitchen Lon .~ ''It :All 1 ... Carquest ...tal Sillrs -L .0,5e 1 Carol W. MAIN ST. 1 8. H.,ndicrafts ROME Jacks Torn 5 Clinic PharinacÂ¥ 001,kin rhe EÂ·,0 C.~ 1-t,tute F.. ;fla .srer, Home *Â·itaorant Real THE iant/ TIAOLEAN J, Al'In PC -Ii- Car. Pharmacy Main =I . 30/'Inment al 'he SABOY Orthooaeoic - *ran,unv. , HOUSE plote, .99ocia~es of THE Estate . HOTEL .C LODGE CHRISTMAS Davic J SingÂ®r. MD fACS 1 Gas J 3'mnk':t.'â€ž,~e~&:2% --,--~AiMn///woo/ INN 510Â¢li*AW ini*0 ,tr--&64. ;ne i;1. /~j*J~~~ "SPEN .Fi~JE -0~ -I . -'.7 : I *-I T -.I -.; .=71 J ,Â»,emer z 4..cÂ·(61)--1/2,0 1 I.g=(,2447. -2 .9 1 2 4.,n 2 i au -Â·'rf ir fL.i630-6 k~fit~ A (653 31 J 12 Â¥09.40 1 Â£19- -1 Cl-1 ST. S OHI I . CITY OF ASPEN COMMUNITY DEVELOPMENT DEPARTMENT 4-reement for Pavment of Citv of Aspen Development Application Fees. CITY OF .\SPEN (hereinafter CITY) and Little Red Ski Haus, LLC ihereinafter APPLICANT) .\GREE AS FOLLOWS: ! APPLICANT hassubmitted to CITY an application for Timeshare Development (hereinafter. THE PROJECT). 2. APPLICANT understands and agrees that Citv of Aspen Ordinance No. 5- (Series of 2000) establishes a fee .structure for Land Use applications and the payment of all processing fees is a condition precedent to a determination of application completeness. APPLICANT and CITY agree that because of the size. nature or scope of the proposed project. it IS not possible at this time to ascertain the full extent of the COSTS involved in processing the application. APPLICANT and CITY fur'[her agree that it is in the interest of the parties that APPLICANT make payment of an initial deposit and to thereafter permit additional costs to be billed to .APPLICANT on a monthly basis, APPLICANT agrees additional costs may accrue following their hearings and'or approvals. APPLICANT agrees he will be benefited by retaining greater cash liquidity and will make additional payments upon notification by the CITY when they are necessary as costs are incurred. CITY agrees it will be benefited through the greater certainty of recovering its full costs to process APPLICANT S application. CITY and APPLICANT further auree that it is impracticable for CITY staff to complete processing or present sufficient information to the Planning Commission and'or City Council [o enable the Planning Commission and'or City Council to make legally required findings for project consideration. unless current billings are paid in full prior to decision. 5. Therefore. APPLICANT agrees that in considerarion of the CITY's waiver of its right to collect full fees prior to a determination of application completeness. APPLICANT shall pay an initial deposit in the amountofS 2,585 Â·which IS for hours of Community Deveiopment staff time. and if actual recorded costs exceed the initial deposit. APPLICANT shall pay additional monthly billings to CITY to reimburse the CITY for the processing of the application mentioned above. including post approval review at a rate of 5205,00 per planner hour over the initial deposit. Such periodic payments shall be made within 30 days of the billing date. APPLICANT further agrees that failure to pay such accrued costs shall be grounds for suspension ofprocessing. and in no case wril building permits be issued until ail costs associated idith case processing have been paid, CITP OFASPEN APPLICANT 4 r -1 SA; 4 4 d L By: 3 1 Julie Ann Woods ft- - '-'*7-vt.~ A,AJ u,~- I - Community Development Director Date: Mailing Address: 118 E. Coooer Avenue Aspen, CO 81611 g:\support\forms\agrpayas.doc 1/ 10/01 CITY OF ASPEN PRE-APPLICATION CONFERENCE SUMMARY PLANNER: James I.indt. 920.5095 DATE: 12/17/02 PROJECT: l.:zie Red Ski Halls Timeshare REPRESENTATNE: OWNER David Fiore TYPE OP .IPPI,ICATION finieshare, Lodge Preseriation PLJD Amendment. Subdivision, C,MOS Exemption for Lodge Preservation DESCRIPTION Iii order to rimeshare the existing Ltitle Red Ski I laus. a PUD amendment has to be requested in con junction with the timeshare application. However, the recently approved mnishare provisions set forth tha[ a PLD review for a propenÂ¥ thai is zoned LP shall be procusied as a two-9tep review with a public hearing at PdZ and one 3[ City Council, The land use actions thar are required to be associated wilh a Ilineshare review are subdivision, a consolidated PLD review, and a GMQS Exemption for Lodge Preservation. Land Use Code Section(s) 26.590 Timeshare Development 26.470 Growth Management Quota System- Exemption for Lodge Preservation 26.480 Subdivision 26.445 Planned Unit Development Revjew bv Staff for complete application, Development Review Committee for technical considerations. P & Z for recommendation. City Council for final decision. Public Hearing: Yes, at P AZ, and CounciI 2[ld Reading of Ordinance. Referial Agencies: Housing, Finance. Building, Fire. and Engineenng. 2!arifizilg Fees: Planning Deposit $2405 Referrai Agency FeesÂ· Housing S 1 80 Total Deposit: 52535 To apply, submit the following information; ~ 1. f ily of Aspeti [.and Use Application Form. al Deposirforreviewof application Applicant s name. address aird Idleohone number. contained within a letter signed by the applicant stating tile name, address. and telephone number ofthe representative authorized to act on behalf of the applicant. SIreet address and legal description of the parcel on which development is proposed to occur. consisting of a current certificate from a Title insurance company, or attorney licensed zo practice in the State of Colorado. listing the rtames ot all owners of the property. and all Inortgages. judgments. hens. eascments, contracts and agreements affecting the parcel, and demonstrating the owner's right to apply for the Development Application. 0 4. 0(Total deposit for review of the application. An 8 :,2 6, 1 ! vicinin mao locating [he parcel within the City of Aspen. 76 *signed fee agreement. 2,- 421-â‚¬-application Conference Summary. -8 Einieshare Application Conten[S (artaohed) as set forth in Land use Code Section 26.390.050. 9 A site improvement survey that includes all existing and proposed nat'ltral and man-made site features. 10. A detailed description and sice plan of the proposed (or existing dimensional requirements ifjust timesharing an b existing lodge) development. 11. A written description of the proposal auu a wrliten explanaLion ot how a proposed development complies with the applicable review standards (attached) relevant to the development reviews (Timeparer -PUD. Subdivision. OMO. S Exemption for Lodge Preservation) required. .- ..41 - . 2. A copy ofthe recorded documents that affect the proposed clevelopment. il. Proofafl,wnership. 1. - List of ad.lacent propen> owners within 300' for public hearing. The GIS department can provide th:i list on mailing labels for a small fee. 920.5453 - 2_Copies of thecompie[eapplicationpacker (items 1-IE), Staffrecommends tha[ theappi ic3nr submit one copy Ot rile application for completeness review prior to submitting the remainder of rhe copies. 16 Applications shall be prowded m paper format (number of copiss noted above) aswell as the text oni>-on either o f 'ilic tellowmg digital formats. Compact Disk (CD)-preferred: Zip Disk or Floppy Disk. Microsoft Word. format is prcrerred. l'ext format easily conieribleto Word is acceptable. ProreÂ»: Appi> (49Â¢ Planric: reviews application for completeness. The Case Planner [hen refers the application to Ille Development Review Committee t:ir technical consideracions. Case Planner subsequenUy lakes the application zo [he weekly graff meeting ro establish a :taff rU-o[Ilinendation. Public hearing dates are then assigned by [he Deputv Director of Community Development in conjunction will: [ile Case Planner. .1 pubik hearing is held before the Planning and Zoning Commission to establish the Commission's recommendation to Ciry Council regarding the Tinieshare Development. Lodge Preservalion PUD Amendment and Subdivision nor[.ons of the zipplication. A First and Second Reading (Public Hearing) of the Ordinance is then reviewed by City- Council for a rina: ce.Â·:Sion. k the appticarion i.s approved. the applicant will have to prepare a PUD/Conduminium Plat for recordation 1 the Pickin Couniv Clerk and Recorders, Dischitiner: Thu LorÂ·:going suminary is advisory in nature only and is nor binding on the Ciry. The summary ts based tin current zoning. which is sublect [,1 chanee in tne future, and upon factual representations thar may or may not be accurale. The iutnmary does not create a Bey:li or .csted right. .. FRACTIONAL OWNERSHIP DEVELOPMENT PROPOSAL Submitted by Goug6r & Franzmann, LLC Attorneys and Counselors at Law on behalf of LITTLE RED SKI HAUS, LLC Section I Introduction Little Red Ski Haus, LLC (the "Applicant") currently operates an historic bed and breakfast lodging establishment (the "Lodge") located prominently at 118 East Cooper Avenue in the City o f Aspen. Managed by Western Peak, LLC, the Lodge was recently recognized by the Aspen Historic Preservation Commission in their 14~h Annual Honor Awards. This honor was bestowed as the result of significant renovations, with the purpose of maintaining the Lodge as an economically feasible lodging establishment and to preserve the historical status of the building as an Aspen mainstay. This proposal is being submitted to the Aspen City Planning Committee and City Council for approval to amend the Existing PUD approved in 2002 as necessary to convert the Lodge from a traditional bed and breakfast operation to a condominium based plan of Fractional Ownership (the "Plan"). If this Plan is approved, the Applicant will comply with all requirements to subdivide the Lodge to a fractionalized condominium timeshare operation. In addition to the information included in the Land Use Application to which this proposal is a part, this proposal describes the details of the Plan and its conformance to the requirements of Title 26 of the City ofAspen Municipal Code. The Applicant believes that this proposal meets the standards and requirements for a timeshare lodging development plan, and also meets the spirit and intent of the procedures and standards established by the City of Aspen for providing for the protection of the character of Aspen as a unique resort community, for promoting increased tourism and vitality within the City and for protecting the economic viability of historic lodges within the Aspen Community. Specifically, the Plan for the Lodge will help to implement the goals and achieve the public purposes of the Aspen Area Community Plan by increasing vitality, preserving and enhancing lodging inventory, upgrading the quality of accommodations, and maintaining community character. .. Section II Timeshare Use Plan 2.1 Description. The proposed Plan of Fractional Ownership contemplates five classes of Units to be established within the Lodge. These classes of Units differ by the size and floor plan of the Unit, the number of Fractional Ownership Interests, and the number of weeks allocated to each Fractional Ownership Interest. A summary of the classes ofUnits is set forth below: Number of Description Number of Number of Weeks Units Fractional Allocated to Each Ownership Interests Fractional Available Per Unit Ownership Interest 1 Luxury Suite 16 3 3 Executive / Family 16 3 3 Historic King 16 3 3 Standard King 16 3 2 Bunk Rooms 16 3 In total, there will be a maximum of 192 Fractional Ownership Interests created of which 167 will be available for sale to the public, with the remaining 25 Fractional Ownership Interests being reserved for Little Red Ski Haus, LLC. In arriving at the 192 Fractional Ownership Interests, Certain peak season weeks such as Christmas, New Year, Wine and Food Festival, and HBO Comedy Weekend were reserved in order to offer the lodge for rent to the public. Each purchaser will be buying a Fractional Ownership Interest for a specific Unit which will allow for the exclusive use of such Unit on a "floating" basis. It is currently proposed that available Fractional Ownership Interests will be offered for sale in three phases. The selling price of the various Fractional Ownership Interests will differ based upon the size and quality of the Unit and the phase in which the Fractional Ownership Interest in sold. Overall, it is anticipated that the average price of a Fractional Ownership Interest will be approximately $84,838. A program will be established to allow Owners of Fractional Ownership Interests to rent such interests at typical rates to the public at such times when the Owners are not using them. Although not initially, it is also possible that in the future, Owners of Fractional Ownership Interests will be able to exchange their allotted weeks with Owners of Fractional Ownership Interests in other exclusive resort communities. 2 .. Section III Compliance with Characteristics of a Timeshare Lodge Development The Lodge, as a timeshare lodge development, will incorporate all mandatory physical and operational features required by Section 26.590.060 of the City of Aspen Municipal Code, as well as some of the physical and operational features that are typically found in lodges in Aspen. Additionally, the Lodge will operate in a manner similar to a traditional lodging establishment when the Owners are not using their Fractional Ownership Interests. 3.1. Mandatorv Physical Elements. (a) The Lodge will have a staffed on-site front desk, located within a lobby that is sized to meet the needs of the Lodge. The size of the lobby will be approximately 500 square feet, and is typical for similar sized lodging establishments in Aspen. The staffed front desk will be open at a minimum during regular business hours and will be managed to provide full time registration and reservation services, including provision for late check-in and for other off-hours guest needs. The front desk also will accommodate walk-in rentals. (b) The Lodge will contain the following recreational facilities and other amenities to serve the occupants, including facilities that may be used in the winter and the summer seasons: â€¢ Heated Jacuzzi Spa â€¢ On Premises Food and Beverage Service Facility â€¢ Housekeeping Service â€¢ On Premises Laundry â€¢ On Premises Temporary Storage (skis, boots, etc.) (c) The extent of the facilities will be proportional to the size of the Lodge, utilizing approximately 1,250 square feet of the Lodge or approximately 18% percent of the total area of the Lodge. The extent of the facilities at the Lodge is similar to other comparable lodging establishments in Aspen. The type of facilities will be consistent with the planned method and style of operation of the Lodge. 3.2 Mandatorv Operational Practices. (a) The Lodge will include all of the mandatory practices in its operation, including the following: (i) Units subject to Fractional Ownership shall be made available for short- term rental when the Unit is not being used by the Owner, the Owner's guests, or persons occupying the Unit under an exchange program. Units that are available for rental shall be listed at competitive rates in a recognized central reservation system in Aspen and otherwise promoted through the Managing Agent. 3 .. (ii) The covenants of the Condominium Association shall permit walk-in rental of Units. The Association will not limit rental of Units to such arrangements as only weekly rentals or Saturday-to-Sunday rentals; instead the Condominium Association shall permit shorter stays, split-week rentals, and similar flexible arrangements. (iii) Owners ofFractional Ownership Interests shall be required to reserve their Unit/time at least seven days in advance to enable the public to obtain access to those Units that are not being utilized. (iv) The Owner of a Fractional Ownership Interest shall not be permitted to occupy that Unit for any period in excess of thirty (30) consecutive days. (v) The Units that remain in the Applicant's inventory shall be made available for rental to the public while the Fractional Ownership Interests are being sold, except for Units that are needed for marketing or promotional purposes. Section IV Summarv of Disclosure Statement and Timeshare Instruments 4.1 Disclosure Statement. (a) Below is a summary of the Disclosure Statement that will be filed in full at the appropriate time. 01 Developer: Little Red Ski Haus, LLC. The principal place of business of the Developer is 118 East Cooper Avenue, Aspen, Colorado 81611. The Developer has owned the Lodge for nearly two years. The Developer recently undertook and supervised the dramatic award winning renovations of the Lodge. The present financial condition of the Developer is sound. Managing Agent: Western Peak, LLC. The principal place o f business of the Managing Agent is 118 East Cooper Avenue, Aspen, Colorado 81611. David R. Fiore is the managing member of Western Peak, LLC. The Managing Agent currently manages the Lodge and has done so for 1 year. Additionally, Mr. Fiore has developed many other real estate projects over the past 7 years. (iii) Marketing Entity: To be submitted with Final Disclosure Statement. [It is anticipated that the Fractional Ownership Interests will be marketed via reputable and licensed brokers located locally in Aspen and throughout other maj or metropolitan areas]. (iv) Description of Timeshare Units: To be submitted with Final Disclosure Statement [Generally, there are five classes of Units in the -Lodge; differing by the size and floor plan of the Unit. There is 1 Luxury Suite Unit, 3 Executive/Family Units, 3 Historic King Units, 3 Standard King Units, and 2 4 Bunk Room Units. Each Unit carries 16 Fractional Ownership Interests for a total of 192 Interests. Of these 192 Interests, 25 will be retained by Little Red Ski Haus, LLC and will not be available for sale to the public. 167 Units will be available for sale to the public. Each Fractional Ownership Interest is allotted three weeks of non-consecutive usage. Please note that the Developer has completed all buildings, Units and amenities, and Units will be available upon approval o f the Plan]. (v) Condominium: To be submitted with Final Disclosure Statement. [The Plan contemplates recordation of Condominium Declarations in accordance with the provisions of the Colorado Common Interest Ownership Act.]. (Vi) Restraints on Transfer. To be submitted with Final Disclosure Statement. [It is anticipated that for any Owner of a Fractional Ownership Interest desiring to sell such Interest, and for so long as the Developer has Fractional Ownership Interests to sell in the Project, the Applicant shall have the right of first refusal to purchase the Fractional Ownership Interest under the same terms and conditions as are offered to or by a bona fide third party, including financing. (Vii) Timeshare Use Plant See portion o f this proposal entitled "Timeshare Use Plan". (Viii) Notice of Liens: To be submitted with Final Disclosure Statement. [Title to the Units is currently subject to a First Mortgage in favor of Hinsbrook Bank & Trust and a subordinated deed of trust in favor of Marjorie Babcock. It is the current intention to pay down the mortgage through the sale proceeds of the Fractional Ownership Interests. There are no other liens, title defects or encumbrances on or affecting the title to the Units]. (ix) Notice of Legal Actions*. T o be submitted with Final Disclosure Statement. [There are no pending or anticipated legal actions that are material to the timeshare Units or Plan of which the Applicant has, or should have, knowledge]. 00 Purchase Price: To be submitted with Final Disclosure Statement. [The purchase price for a Fractional Ownership Interest in the Unit, is $120,000 for a Luxury Suite Unit, $80,000 for a Executive/Family Unit, $64,000 for an Historic King Unit, $56,000 for a Standard King Unit, and $40,000 Bunk Room Unit. These amounts reflect Phase I pricing levels. Note - the pricing levels of subsequent phases are anticipated to be higher. Additional expenses incurred by purchasers for closing costs will be comparable to those of other real estate transactions of a similar nature]. (Xi) Dues/Taxes: Real estate transfer taxes will be collected at the closing of each sale of a Fractional Ownership Interest. Property taxes will be assessed and 5 billed to each Owner of a Fractional Ownership Interest based on the County assessor' s tax records. (Xii) Management Fees: rio be submitted with Final Disclosure Statement. [The Condominium Association will assess, collect and maintain management fees to be held in separate accounts for each Owner. While the Applicant has not determined the exact method for assessing management fees to Unit Owners, in general management fees will be assessed on a pro rata basis according to ownership and type of ownership unit.] (Xiii) Financing: To be submitted with Final Disclosure Statement. [The Applicant is currently studying the feasibility o f offering financing to prospective purchasers of Fractional Ownership Interests]. (Xiv) Limited Warranties: To be submitted with Final Disclosure Statement. [The Applicant has not finalized the specific limited warranties and limits on liability that will be applicable to the Fractional Ownership Interests. The Applicant anticipates that the actual limited warranties and limits on liability will be similar to those typically imposed upon Owners of fractionalized ownership interests in the state o f Colorado, subj ect to any statutory limitations or exclusions. (XV) Statement of Compliance: The proposed development will comply with all applicable requirements of Title 15, Section 61, C.R.S. (xvi) Third Party Liens: TO be submitted with Final Disclosure Statement. [Fractional Ownership Interests will be subject to liens and encumbrances as pennitted by law. Since each Fractional Ownership Interest shall be a separately deeded interest, the lien or encumbrance would be placed on the Owner's Fractional Ownership Interest only. To the extent an Owner causes a lien or encumbrance to be attached to the Unit and/or the Fractional Ownership Interest of another Owner or the Applicant, the Owner who caused the lien will be obligated to satisfy the lien or encumbrance and indemnify the Applicant and all other Owners of the Unit from any and all claims and damages as a result thereof.] (xvii) Minimum Sale of Units: The Applicant will require a minimum sale of 10% percent of the Units before the Applicant proceeds with the completion of the Timeshare Development. (xviii) Maintenance: To be submitted with Final Disclosure Statement. [It is anticipated that Owners of Fractional Ownership Interests, at the Owner's expense, shall maintain and keep in repair the interior of the Unit, including the fixtures and utilities located therein to the extent current repair shall be necessary in order to avoid damaging other Units or the Common Elements. All fixtures, equipment and utilities installed and included in a Unit serving only that Unit, 6 .. commencing at a point where the fixtures, equipment and utilities enter the Unit shall be maintained and kept in repair by the Owners of that Unit. An Owner shall also maintain and keep in repair all windows and other glass items related to such Owners' Unit and any entry door or doors serving such Unit. Notwithstanding the foregoing provisions, the maintenance and repair of the interior of any Unit shall be undertaken by the Board of Directors at the expense of the Owners o f the Unit, and no individual Owner of any Fractional Ownership Interest shall have any of the rights heretofore described. The Condominium Association, without the requirement of approval of the Owners of the Fractional Ownership Interests shall maintain and keep in good repair, replace and improve, as a Common Expense, the Common Elements]. (xix) Exchange Program: To be submitted with Final Disclosure Statement. [Owners of Fractional Ownership Interests will initially not be eligible for participation in an Exchange Program. The possibility of participation in an Exchange Program in the future will be studied by the Applicant]. (XX) Insurance: To be submitted with Final Disclosure Statement. [The Condominium Association shall maintain, to the extent reasonably available: (i) Property Insurance on the Common Elements and, to the extent required by law, the Units for fire and other broad form covered causes of loss; and (ii) commercial general liability insurance (with one policy being obtained for the Condominium Association and the Common Elements and separate policies being obtained for the Units at the expense of the Owners of Fractional Ownership Interests. In all insurance policies, the Condominium Association shall be named as the agent for each of the Owners]. (xxi) Amenities and Recreational Facilities: To be submitted with Final Disclosure Statement. [All on-site amenities and recreational facilities are available for use by all Owners of Fractional Ownership Interests. Such on-site amenities are owned by the Condominium Association and, except as specifically set forth below, the Developer shall not charge any additional fee for the use of such amenity. The current recreational facilities and amenities include heated Jacuzzi Spa, on-premises restaurant & Beverage Service Facility, housekeeping service, on premise laundry, on-premise temporary storage (skis, boots, etc.)]. (xxii) Mandatory Statement Any timeshare interest shall be expressly subject to all requirements and representations set forth in the disclosure statement. (xxiii) Architectural or Engineering Report: To be submitted with Final Disclosure Statement. [There are no notices of uncured violations of building code or other municipal regulations]. 7 I . Section V Timeshare Development Instruments It is anticipated that the following Timeshare Development Instruments will be submitted ifthe Project receives approval from the City: (a) Condominium Declarations. It is anticipated that this document will: (i) create a condominium project pursuant to the Colorado Common Interest Ownership Act; (ii) set forth the division o f the Proj ect into condominium ownership; (iii) set forth the Owner's property rights in the Common Elements; (iv) set forth the membership and voting rights in the Condominium Association; (v) set forth the duties of the Condominium Association; (vi) establish the terms and conditions of assessments of the Owners by the Association; (vii) delineate the maintenance responsibilities; (viii) set forth insurance requirements; (viii) set forth the terms of conveyance and taxation of condominium interest; (ix) set forth use restrictions; and (x) to generally set forth and describe the plan of Fractional Ownership. (b) Articles of Incorporation. This document will register the Condominium Association as a not for profit corporation under the laws of the state of Colorado. (c) Condominium Association Bvlaws. It is anticipated that this document will: (i) set forth of the purpose of the Condominium Association; (ii) define membership in the Association; (iii) set forth meeting of the members of the Association; (iv) set forth the membership requirement as well as the duties and responsibilities of the Board of Directors of the Association; (v) set forth the officers of the Association and describe their duties; (vi) set forth the indemnification provisions of the directors and officers of the Association; (vii) define the obligations of the Owners of the Association; (viii) set forth provisions concerning the books and records of the Association; and (ix) define the tax year on which the Association will operate. (d) Rules & Regulations. It is anticipated that this document will set forth the rules which must be followed on the Property regarding such issues as parking, use of the Jacuzzi Spa, number of occupants per Unit, noise restrictions, and other relevant policies. Ce) Management Agreement. It is anticipated that this document will set forth the agreement between the Condominium Association and the Managing Agent, Western Peak, LLC. (1) Membership Program. It is anticipated that this document will set forth the dates allocated to each Fractional Ownership Interest and describe the policies to 8 be followed in the event that an Owner of a Fractional Ownership Interest desires to make the Unit available as a rental. Section VI Management Plan Little Red Ski Haus has entered into a management agreement with Western Peak, LLC to manage the Little Red Ski Haus Lodge. Western Peak, LLC is a Colorado based LLC whose managing member is David R. Fiore. It is anticipated that upon establishment of the Condominium Association, Western Peak, LLC will be engaged to manage the project. Accordingly, Western Peak, LLC will be responsible for: (i) continuing maintenance of the Property; (ii) supervision and oversight of staff; and (iii) maintaining and administering the reservation system. Section VII Marketing Plan Little Red Ski Haus, LLC anticipates marketing available Fractional Ownership Interests through the use of licensed and reputable third party brokers located locally in Aspen as well as other major metropolitan locations throughout the country. The Lodge may offer gifts for travel to or accommodations in Aspen, restaurants in Aspen, and local attractions, such as ski passes, concert tickets, or other gifts that reflect the local Aspen economy. The Lodge will not offer any gifts for which: (i) an accurate description is not given; (ii) notice is not given to the prospective purchaser that the purchaser will be required to attend a sales presentation as a condition of receiving the gifts; and (iii) the printed announcement of the requirement to attend a sales presentation is in smaller type face than the information on the gift being offered. Section VIII Budget The Applicant is in the process of preparing the Condominium Association's estimated budget for costs and expenditures for the management and maintenance of the Lodge. The estimated budget will be submitted prior to hearing. Section IX Upgrading Plan The Lodge has been physically upgraded and modernized in accordance with applicable codes, and has been approved pursuant to the Existing PUD Plan. 9 Section X Tax Collection Real estate transfer taxes will be collected at the closing of each sale of a Fractional Ownership Interest. Property taxes will be assessed and billed to each Owner of a Fractional Ownership Interest based on the Pitkin County assessor's tax records. Section XI Developer's Registration As of the date of this proposal, the Developer has not registered with the Colorado Real Estate Commission. If the Plan is approved, the Developer will submit Developer's registration at the time the timeshare documents are submitted for recordation, pursuant to Section 26.590.090 ofthe City of Aspen Municipal Code. Section XII Review Standards for Timeshare Lodee Development Compliance with the standards outlined in Section 26.590.070 is described below or attached as noted. (a) Fiscal Impact Analysis and Mitigation. The attached Fiscal Impact Analysis and Mitigation Study demonstrates that the proposed conversion of the Lodge to a timeshare lodge development will not have a negative tax consequence for the City of Aspen, and in fact will have a positive tax affect on the City. (b) Upgrading of Existing Projects. The Lodge has been physically upgraded and modernized in accordance with applicable codes, and has been approved pursuant to the Existing PUD Plan. (c) Preservation of Existing Lodging Inventory. The conversion of the Lodge to a timeshare development will preserve and enhance Aspen's existing lodging inventory. The Lodge has replaced the existing number of rooms on the property with a comparable number of Units for the planned timeshare lodge. (d) Affordable Housing Requirements. Affordable housing requirements are not applicable to this application. Ce) Parking Requirements. The Lodge will have 3 parking spaces, meeting the parking standard for the underlying zone district for lodge uses, based on the maximum number of proposed rooms in the Lodge. Owners of Fractional Ownership Interests will be prohibited from storing a vehicle in a parking space on-site when the Owner is not using the Unit. There will be no increase in parking demand as a result ofthe Plan. 10 . I (f) Appropriateness of Marketing and Sales Practices. The following marketing and sales practices shall not be utilized: (i) The solicitation o f prospective purchasers of timeshare Units on any street, mall or other public property or facility; and (ii) Any unethical sales and marketing practices which would lend to mislead potential purchasers. The Lodge may offer gifts for travel to or accommodations in Aspen, restaurants in Aspen, and local attractions, such as ski passes, concert tickets, restaurant gift certificates, or other gifts that reflect the local Aspen economy. The Lodge will not offer any gifts for which: (i) An accurate description is not given; (ii) Notice is not given to the prospective purchaser that the purchaser will be required to attend a sales presentation as a condition ofreceiving the gifts; and (iii) The printed announcement of the requirement to attend a sales presentation is in smaller type face than the information on the gift being offered. (g) Adequacy of Maintenance and Management Plan. To be submitted with Final Disclosure Statement. [The Applicant will provide documentation and guarantees that the Fractional Ownership Interest development will be appropriately managed and maintained in a manner that will be both stable and continuous. That document will include an identification of when and how maintenance will be provided, and will also address the following requirements: (i) A fair procedure for Owners to review and approve any fee increases which may be made throughout the life of the Project, to provide assurance and protection to Owners that management/assessment fees will be applied and use appropriately; and (ii) The Applicant will also demonstrate that there will be a reserve fund to ensure that the proposed Project will be properly maintained throughout its lifetime. Ch) Compliance with State Statutes. The Applicant will comply with the applicable requirements of Title 12, Section 61, C.R.S.; Title 38, Section 33, C.R.S.; and Title 38, Section 33.3, C.R.S. (i) Approval by Condominium Owners. The Condominium Declaration will allow for timesharing, and will require that one hundred percent (100%) of the Owners of the Condominium Units have to approve the Plan of Fractional Ownership, including any improvements to the Common Elements that the Applicant may propose, that all mortgagees of the condominium have approved the proposed Plan of Fractional Ownership, and that the 11 . Condominium Units in the timeshare development will be included in the same sales and marketing program. A copy of the Condominium Declaration shall be provided as required following approval o f the Plan. 0) Prohibited Practices and Uses. The Applicant shall not: (i) Engage in the creation, operation or sale of a right-to-use interest or any other timeshare concept which is not specifically allowed and approved pursuant to the requirements of Section 26.590.070 of the City of Aspen Municipal Code, including the creation, operation or sale o f lease-holds and vacation clubs. (ii) Misrepresent the facts contained in any application for timeshare approval, timeshare development instruments, or the disclosure statement. (iii) Fail to comply with any representation contained in any application for timesharing or misrepresent the substance of any such application to another who may be a prospective purchaser of a timeshare interest. (iv) Manage, operate, use, offer for sale or sell a timeshare estate or interest therein in violation of Chapter 26 of the City of Aspen Municipal Code or any approval granted pursuant thereto, or cause or aid and abet another to violate any requirements of said Chapter, or an approval granted pursuant to said Chapter. Section XIII Conclusion The Applicant believes that this proposal meets the standards and requirements for a timeshare lodging development plan, and also meets the spirit and intent of the procedures and standards established by the City of Aspen for providing for the protection of the character of Aspen as a resort community, and for promoting increased tourism and vitality within the City. Specifically, the Plan for the Lodge will help to implement the goals and achieve the public purposes of the Aspen Area Community Plan by increasing vitality, preserving and enhancing lodging inventory, upgrading the quality of accommodations, and maintaining community character. 12 .. Appendix Definitions 2.1 "Applicant" shall mean Little Red Ski Haus, LLC. 2.2 "Common Elements" shall mean all of the Project, including the Property, except the Units. Common Elements include General Common Elements and Restricted Common Elements. Common Elements also include, but is not limited to, tangible and intangible personal property including membership rights, licenses, and other beneficial use rights designated by the Applicant or acquired by the Condominium Association as Common Elements and existing for the use of one or more Owners. 2.3 "Condominium Association" shall mean LRSH Condominium Association, Inc., a Colorado nonprofit corporation, and its successors and assigns. 2.4 "Condominium Declaration" shall mean the declaration of Condominium for LRSH Condominiums together, with any exhibits, supplements or amendments to the Condominium Declaration, recorded in the Records. 2.5 "Developer" shall mean the Applicant, Little Red Ski Haus, LLC. 2.6 "Existing PUD Plan" shall mean the PUD Plan approved by the City of Aspen in 2002. 2.7 "First Mortgage" shall mean an unpaid and outstanding mortgage, deed of trust or other security instrument recorded in the Records, which secures financing for the Proj ect. 2.8 "Fractional Ownership Interest" shall mean an undivided, fee ownership interest (expressed as a fraction) as tenants in common in a Unit together with an Allocation allowing Owners exclusive right to possession, use and occupancy of a Unit during Use Periods pursuant to the Condominium Association Documents. The smallest Fractional Ownership Interest shall be at least an undivided 1/16th interest, which carries with it the right to the use, occupancy and possession of a Unit for three weeks in accordance with the Condominium Association Documents. Fractional Ownership Interests may be identified by one or more letters, numbers, symbols or combinations thereof. Fractional Ownership Interests may be identified in advance of transfer of such Interest or may be identified upon transfer. At a minimum, a Fractional Ownership Interest in a specific Unit must be identified by the undivided fee ownership interest in a specific Unit. A Fractional Ownership Interest is sometimes referred to as a Fractional Interest, which is a time share estate under Colorado law. 2.9 "Lodge" shall mean the Little Red Ski Haus Ski Lodge located at 118 E. Cooper Avenue in the City ofAspen, Colorado. 13 .. 2.10 "Managing Agent" shall mean a person, firm, corporation or other entity employed or engaged as an independent contractor by the Association pursuant to a Management Agreement to perform management services for the Project. 2.11 "Marketing Entitv" shall mean a licensed and qualified real estate broker approved by the Applicant to market and promote Fractional Ownership Interests. 2.12 "Owner" or "Owners" shall mean any record owner, whether a natural person or persons, or an entity, of a fee simple title interest in and to any Unit (including, without limitation, an owner of a Resident Interest). 2.13 "Plan of Fractional Ownership" or "Plan" shall mean the system of mutual use rights and obligations created and established by the Condominium Declarations for Owners of Fractional Ownership Interests. 2.14 "Proiect" shall mean the Property (hereinafter defined) and all improvements thereon. 2.15 "Propertv" shall mean the real property describe on the accompanying legal description. 2.16 "Records" shall mean the official, public records of the Office of the Clerk and Recorder of Pitkin County, Colorado. 2.17 "Restricted Common Elements" shall mean those portions of the Common Elements that are reserved for the exclusive use and are under the exclusive control of the Condominium Association and are as so designated by the Condominium Association. 2.18 "Unit" or "Units" shall mean the physical portion of the Project designated for separate ownership or occupancy. 14 .. 19 4 . Fu *IZ~4 hpat:k JA - iÂ«.9 Â·:Lga.A YCip#f i . c C'll' - tRIe of aspen OWNERSHIP AND ENCUMBRANCE REPORT Order No.: 41916 Prepared For: STE#'ART TITLE OF ASPEN, INC. HERE]3Y CERTIFIES from a search of tile books in this office thar title to: Lot 0 and the West ons-half of Lot P, Block 69, CITY AND TOWNSITE OF ASPEN. COUNTY OF PITKIN, STATE OF COLORADO. Situated in the County of Pitkin: StaIe of Colorado, appears ro be vested in the name of: LITTLE RED SKI HAUS, LLC and thai the above described property appears to be subject to the following liens 1 A Deed of Trust dated December 20, 2001, executed by Little Red Ski Haus: LLC to the Public Trustee of Pitkin COUnry, to secure an indebtedness of Sl,200,000.00, in favor of Hinsbrook Bank and Trust, recorded December 20,2001 as Reception No. 462100. NOTE Assignment of Rents recorded December 20, 2001 as Reception No. 462101 given in connection with the above Deed of Trust. 2. A Deed of Trust dated December 20: 2001, executed by Little Red Ski Haus, LLC to the Public Trustee of Pitkin County, to secure an. indebtedness of 200,000.00, in favor of Marjorie Babcock, formerly known as Marjorie Babcock Riley, Trustee under that Unrecorded Living Trust Agreement Dated November 9 1988, recorded December 20, 2001 as Reception No. 462102. NOTE: Subordination Agreement recorded July 15,2002 as Reception No. 469847. 3. A Mortgage dated April 12, 2002: executed by Little Red Ski Haus, LLC, to secure an indebtedness of S900,000.00, in favor of Hinsbrook Bank and Inist, recorded July 15: 2002 File Number: 21916 Stewart Tillc or ,upen, inc O & E Repon Page 1 of 2 I . as Reception No. 469848 NOTE: Assignment of Rents recorded July 15. 2002 as Reception No. 469849 given in connection with tile above Deed of Trust 4, Notice Extending Time To File Lien Statement naming lien climanI as Western Stares Fire Protection Co.: recorded April 25, 2003 as Reception No. 481913. EXCEPT any and all taxes and assessments. EXCEPT all :asements, righrs of way, restrictions and reservarions of record. This report does nor reflect any of the following matters: 1. Bankruptcies which, from date of adjudication of the most recent bankuprcies. antedate the report by more than fourteen (14) years. 2. Suits and judgments which, from date of entry, antedate the report by more than seven (7) yellrs or until tile governing statue of limizations has expired, whichever is :he longer period. 3. Unpaid tax liens which, from date o f payment, antedate the report by more than seven years. Although we believe the facts stated are true, this letter is not ro be construed as an abstract of ritle. nor an opinion of title, nor a guaranty of title, and it is understood and agreed that Stewart Title of Aspen, Inc.. neither assumes. nor will be charged with any financial obligation or liabiiity whatever on any smrement conrained herein. Dated: September 23,2003 ar 8:00 a.m., at Aspen, Colorado STEWART TITLE OF ASPEN, INC. -*C 4.{/ By;r'55% ''7'' , Â«orized S*tur; File NumberÂ· 219]6 Stcwart Tide if .'Upen. Irici O & E Repor: Page 2 of 2 71â€¢h 4,1 2... .. Qougar & rranzmann, u.c Attorneys & Counselors at Law DATE: October 28,2003 TO: David Fiore Little Red Ski Haus, LLC FROM: William Gouger Gougdr & Franzmann, LLC SUBJECT: Fiscal Impact Analysis for Fractional Ownership Development I. INTRODUCTION The purpose of this memorandum is to evaluate the fiscal impact to the City of Aspen if the Little Red Ski Haus historic lodge property is redeveloped as a fractional ownership development. This analysis complies with the City's recently passed and revised fractional/timeshare ordinance 26.590.070, which states that: "An applicant proposing to convert an existing lodge to a fractional lodge development shall be required to demonstrate that the proposed conversion will not have a negative tax consequence for the City. In order to demonstrate the tax consequences of the proposed conversion, the applicant shall prepare a detailed fiscal impact study as part of the final PUD application." The ordinance requires comparisons between the existing lodge operation and the proposed fractional ownership development for the following tax categories: â€¢ Sales taxes; â€¢ Real estate transfer taxes; and â€¢ Real property taxes Analyses of these fiscal impacts have been completed by Gougdr & Franzmann, LLC and are presented in this memo. . I Site and Proposed Development Little Red Ski Haus, LLC is proposing to maintain the historic ski lodge character of the Little Red Ski Haus by creating a fractional ownership development. The lodge is located at 118 East Cooper Avenue between South Aspen Street and South Garmisch Street in the City of Aspen. The property is currently operated as a lodging establishment. An extensive renovation competed in December, 2002 brought the structure into full compliance with all applicable building codes and added an approximately 1,000 square foot food and beverage facility below ground level. The number of available guest rooms was reduced from 23 to 13 in order to increase the size of most rooms to meet the expectations of today's Aspen visitors. The original Little Red Ski Haus structure was built in 1888. Following the recent renovation, it was recognized by the Aspen Historic Preservation Commission in August, 2003 as a recipient of one of their 14th Annual Honor Awards. Due to the high cost of remodeling a historic structure, and the significant debt incurred by Little Red Ski Haus, LLC for the property purchase and renovation, the most economically viable step is for Little Red Ski Haus, LLC owners to seek approval for fractional ownership development o f the property at this time. The proposed development will consist of 1 two-bedroom suite and 11 one bedroom units, each with a private bathroom, providing a total of 12 units to be sold. The food and beverage facility will be available to fractional interest owners and Lodge guests for meals, events and refreshments. The project will be offered as a fractional interest in real estate, wherein buyers purchase a deeded interest which entitles them to use of a particular residence unit for a specified number of weeks per year. If approved, condominium declarations and a subdivision plat will be filed in order to create the property interests. Current plans call for the sale of 167 fractional ownership interests. 2 .. Table 1 provides a summary of the project development program, including unit mix, unit sizes, and average sales price. Table 1 Little Red Ski Haus Fractional Ownership Development Total Units Total Membership Shares 12 167 Average Unit Size Average Fractional Price 325 sq. ft. (approx) $84,838 Unit Type Total Project Floor Area 1 and 2 Bedroom 6,772 II. STUDY METHODOLOGY In completing the fiscal impact analysis for the Little Red Ski Haus project, Gougdr & Franzmann, LLC obtained and analyzed the following: â€¢ Historic sales, lodging and property taxes paid by the Little Red Ski Haus. All historic dollar amounts have been adjusted for inflation and are expressed in 2003 dollars; â€¢ Market, economic and fiscal information from the City of Aspen and Pitkin County officials; and â€¢ Project performance information from comparable projects in the Rocky Mountain region. A fiscal impact model was developed to compare the flow of tax revenues as they are affected by the Little Red Ski Haus project. The model was designed to: â€¢ Evaluate the Little Red Ski Haus project's characteristics with respect to project market value, unit sales absorption and operational performance; â€¢ Formulate municipal revenue proj ections for the Little Red Ski Haus development; and 3 . I â€¢ Compare the tax consequences to the City of Aspen of the following two scenarios: â€¢ Continued operation of the existing lodge; and â€¢ Development of the proposed Little Red Ski Haus fractional ownership development. The underlying assumptions used in formulating the model are detailed in the remainder of this report and the accompanying exhibits and appendices. Tax revenues to the City of Aspen have been summarized for the prior five years of lodge operation, and compared with projections of tax revenues the proposed lodge fractional ownership development will pay to the City over the first five years of its operation. Fractional Ownership Sales Plan EXHIBIT 1 summarizes underlying assumptions regarding the Little Red Ski Haus project's timing of unit sales absorption, and total project sales revenues. The units are already complete and sales will begin immediately following City approval. Approximately 41 fractional ownership interests are projected to be sold in 2004 and the remaining 126 units are conservatively projected to be sold over the following four years, at a rate of 2-3 per month. 1 Occupancy In order to analyze the fiscal impact of the Little Red Ski Haus fractional ownership development proposal, it was assumed that purchasers of fractional ownership interests would utilize the units at an industry average rate of 85%. The rental of fractional ownership interests not sold was assumed to occur at an average Aspen occupancy rate of 53%. Finally, for purposes of this study, 100% occupancy was assumed for the 4 peak weeks not sold to fractional ownership purchasers. III. NET NEW TAX REVENUES Based upon Gougdr & Franzmann, LLC projections, it is anticipated that the Little Red Ski Haus Lodge will generate approximately $20,0002 annually in net new revenues for the City of Aspen, totaling $102,000 net new revenues in the first five years of operation. This figure includes net new sales and lodging taxes, real estate transfer taxes and real property taxes. Fiscal revenues generated by the previous use of the subject property 1 Average absorption at other comparable fractional ownership properties ranges from 5-13 shares per month. 2 Numbers are rounded to nearest $1,000 throughout report. 4 4 . were subtracted from the projected revenues generated by the Little Red Ski Haus Lodge to arrive at the "net new" fiscal impacts. Sales and Lodging Taxes The fractional/timeshare ordinance requires the following comparison between the existing Little Red Ski Haus and the proposed Little Red Ski Haus Lodge fractional ownership development: " A summary of the sales taxes paid to the City for rental of lodge rooms during the prior five years of its operation. If the lodge has stopped renting rooms prior to the time of submission of the application, the summary shall reflect the final five years the lodge was in operation. The summary of past taxes shall be compared to a projection of the sales taxes the proposed fractional lodge development will pay to the City over the first five years of its operation. " EXHIBITS 2a and 2b summarize the underlying assumptions used in preparing sales tax revenue estimates for the Little Red Ski Haus Lodge. The City of Aspen will capture sales and lodging tax revenues from three sources: â€¢ Room Rentals: Fractional interest unit owners of the Little Red Ski Haus Lodge will have the option to rent out their units during the year. In addition, until all fractional interest units are sold, Little Red Ski Haus, LLC will offer unsold units for rent to the public. Finally, Little Red Ski Haus, LLC intends to reserve 4 weeks per year out of the fractional ownership calendar in order to rent out the entire lodge to groups during peak weeks. â€¢ Indirect sales: The Little Red Ski Haus Lodge will function as a vacation destination for individuals whose permanent residence lies outside of the City of Aspen, and likely outside the state of Colorado. These individuals will purchase goods and services while in Aspen, thus increasing city sales tax revenues. â€¢ Food & Beverage Facility: Operation of the Little Red Ski Haus food and beverage facility for lodge guests will generate additional revenues and sales tax for the City of Aspen. 5 Table 2 Net New Sales and Lodging Taxes As Lodge Fractional Ownership Difference Room Rate $ 50 see Exhibit 2b x Number of Rooms 23 see Exhibit 2b x Days per Year 365 see Exhibit 2b = Total Possible Revenue $419,750 see Exhibit 2b x Occupancy Rate 53% see Exhibit 2b == Rental Revenue $222,468 $302,412 Sales/Lodging Tax Due - 3.2%1 $ 7,119 $ 9,677 Tax Contribution of Restauranf N/A $ 1,210 = Total Direct Sales Tax $ 7,119 $ 10,887 + Indirect Sales Tax from Visitor Spending $ 26,821 $ 27,934 Total Annual Gain in Sales Tax $ 33,940 $ 38,821 $ 4,881 Total Gain Over 5 Years $169,698 $194,104 $ 24,406 iTaxes were estimated because historical records provided by Pitkin County were incomplete 21,000 sq ft food and beverage facility averaging $150 per day in sales to Lodge guests Based on estimates of the above taxes, fractional ownership of the Little Red Ski Haus Lodge is expected to generate approximately $39,000 in annual city sales and lodging tax revenues, compared with the roughly $34,000 that would have been generated by continued operation of the Lodge in the historical manner. The five-year cumulative total shows the Little Red Ski Haus Fractional Ownership Development will contribute nearly $25,000 more to the City of Aspen in sales and lodging tax revenues than would the existing operations, largely because the Little Red Ski Haus Lodge will achieve a higher occupancy rate and induce a greater amount of indirect sales tax. Real Estate Transfer Taxes The second comparison required by fractional/timeshare ordinance 26.590.070 is as follows: "As estimation of the real estate transfer taxes that would be paid to the City if the existing lodge were to be sold. If an actual sale of the property has occurred within the last 12 months, then the real estate taxes paid for that sale shall be used. This estimation shall be compared to a projection of the real estate transfer taxes the proposed fractional lodge development will pay to the City over the first five years of its operation. This projection shall include a statement of the 6 expected sales prices for the fractional shares, and the applicable tax rate that will be applied to each sale. " Because the subject property has not been sold in the last 12 months, it was necessary to estimate a selling price. The market value assigned to the property by the Pitkin County Assessor's Office for 2003, and utilized by Gougdr & Franzmann, LLC in this analysis is $2,164,800. Cumulative project sales for the proposed Little Red Ski Haus Lodge are based on expected unit pricing and typical fractional industry sales absorption. The initial sale of the units and owner resales will be subject to Aspen's real estate transfer tax, due on the purchase o f all real property within the city limits o f Aspen. Gougdr & Franzmann, LLC' s analysis indicates that the one-time sale o f the Little Red Ski Haus generates very little tax revenue when compared with the sale and resale of fractional units over the 5-year study period. Development of the Little Red Ski Haus Lodge will result in approximately $68,000 net new RETT tax revenues to the City of Aspen. Were the subject property to instead be sold as a single family dwelling, the City of Aspen would receive less than $32,000 in revenue, or approximately 47% of the potential tax revenues that could be captured from the Little Red Ski Haus Fractional Ownership Development. See Table 3 and EXHIBITS 3a and 3b for analysis details. Table 3 Net New Real Estate Transfer Taxes Projected Unit Shares Sold and Resold 187 x Average Sales Pricel $89,134 = Total Project Sales $16,668,000 Wheeler Opera House Tax (0.5%) $83,340 Affordable Employee Housing and Daycare Tax (1.0%)2 $16,200 New RET Taxes from Proposed Lodge (2004-2008) $99,540 Less RET Taxes if property were to be Sold:3 $31,472 Net New RET Tax (5-Year Comparison) $68,068 1Average sales price shown for initial sales only, average sales price ofresales estimated at $125,000 2Affordable Employee Housing and Daycare Rate does not apply to first $100,000 of transaction 3Little Red Ski Haus value based on 2003 property assessment. Source: Pitkin County Assessor's Office 7 . Property Taxes The final comparison required by fractional/timeshare ordinance 26.590.070 is as follows: "A summary of the City portion of the property taxes paid for the lodge for the prior jive years of its operation, and a projection of the property taxes the proposed fractional lodge development will pay to the City over the first five years of its operation. This projection shall include a statement Of the expected value that will be assigned to the property by the Tax Assessor, and the applicable tax rate." Gougdr & Franzmann, LLC calculated a value assessment for the Fractional Ownership Units in order to derive net new property taxes accruing to the City of Aspen. The assessed value calculations are for real property only; no estimate was made for personal property. Personal property typically represents a relatively small portion of total property taxes for a lodging property. The value assessment for the Little Red Ski Haus Lodge used for property tax calculation is based on comparable condominium sales for the 18 month period ending June 30,2002 in the two City block area surrounding the Lodge, as supplied by the Pitkin County Tax Assessors office and reviewed by Gougdr & Franzmann, LLC for reasonableness. The value assessment is $766 per square foot for the fractional units, resulting in a total property value of approximately $4.5 million. This is a conservative estimate of true market value of the subject property. Property taxes in Pitkin County, Colorado total approximately 2.97 percent of assessed value per year. Of the 2.97 percent in base taxes, approximately 18.2 percent accrues to the City of Aspen. While the balance of taxes (81.8 percent) does not accrue directly to the City of Aspen, a significant portion of these taxes go to schools and other special districts that directly benefit City residents. A schedule of property tax disbursement percentages is provided in Appendix A to illustrate this point. Applying the formulas as shown below results in net new property taxes accruing to the City of Aspen of approximately $2,500 annually, or $13,000 over the first five years of operation of the Little Red Ski Haus fractional ownership development. The proposed development is proj ect{xi to generate roughly 400% more in property tax revenues for the City of Aspen over the next five years than the existing Lodge would generate. 8 .. Table 4 Net New Real Property Taxes Proj ected Lodge Market Value $4,536,326 Proj ected Lodge Assessed Value $ 468,434 Property Tax Rate (000's) 29.738 New Pitkin County Property Taxes $ 13,396 Percentage Accruing to City o f Aspent 18.16% New Annual Property Taxes to City $ 2,531 New Property Taxes from Proposed Lodge (2005-2009) $ 12,654 Less Property Taxes, Little Red Ski Haus (1998-2002)2 $ 3,151 Net New Real Property Tax (5-Year Comparison) $ 9,503 'Based on a 5.401 Aspen Millage Rate per $000 of Assessed Property Value 2Based on historic tax records obtained from Pitkin County, adjusted for inflation IV. KEY CONCLUSIONS AND FINDINGS â€¢ The requested PUD Amendment in order to create a Fractional Ownership Development of the Little Red Ski Haus will be positive fiscally for the City of Aspen and Pitkin County for every one of the tax categories considered in this analysis. â€¢ City of Aspen tax revenue generated from the proposed fractional ownership development will exceed existing lodge revenues by approximately $15,000 (adjusted to 2003 dollars) annually, or $76,000 over the five year comparative period. EXHIBIT 6 demonstrates these results. Since this analysis includes only revenues from taxes and does not account for potential revenue from impact fees, SDC's and other one-time charges, it is inherently conservative. 9 Table 5 Little Red Ski Haus Lodge Fractional Ownership Development Program Net Fiscal Impact Expressed in 2003 Dollars Tax Category Little Red Ski Haus Fractional Ownership Difference Lodge (1998-2002) Development (2004-2008) Sales and Lodging Tax $37,229 $38,952 $ 1,723 Real Estate Transfer Tax $ 6,294 $17,982 $ 11,688 Property Tax $ 706 $ 2,538 $ 1,832 Net Fiscal Impact $44,229 $59,472 $ 15,243 10 I , Exhibit 1 Little Red Ski Haus Fiscal Impact Analysis of Fractional Ownership Development Plan Year | 2004 2005 2006 2007 2008 Fractional Interest Sales 41 36 35 31 24 Owner Resales at 5% 1 2 4 6 8 Total Sales 41 38 39 37 32 Cumulative Sales 41 79 118 155 187 Value of Fractional Interest Sales (Avg.$84,838/Unitp Fractional Interest Sales 2,792,000 2,730,000 2,970,000 3,180,000 2,496,000 14,168,000 Owner Resales1 250,000 500,000 750,000 1,000,000 Total Sales per Year 2,792,000 2,980,000 3,470,000 3,930,000 3,496,000 Cumulative Sales Dollars 2,792,000 5,772,000 9,242,000 13,172,000 16,668,000 SALES SUMMARY TOTAL FRACTIONAL INTEREST SALES 167 FRACTIONAL INTEREST RESALES BY OWNERS 20 TOTAL SALES & RESALES 187 TOTAL PROJECT SALES REVENUE 16,668,000 1 RCI Consulting: National Survey of Property Owners 2 Represents Blended Price of 5 Classes of Fractional Interest Units 3 Estimated Blended Sales Price of Resales = $125,000 Little Red Ski Haus Fiscal Impact Analysis of Fractional Ownership Development Sales and Lodging Tax Summary Prior Owner LRSH, LLC As Lodge Fractional Projected Total Rentals Ownership Rentals LRSH Direct Sales Tax Avergage Daily Room Ratel $ 50 $ 200 Average Number of Rooms 23 Nights per Year 365 Total Annual Revenue 419,750 302,412 (see Exhibit 2b) Occupancy Rate 53% Rental Revenue 222,468 302,412 Sales & Lodging Tax Rate 3.20% 3.20% TAX DUE 7,119 9,677 Tax Contribution ofRestauranf - 1,210 Total Direct Sales Tax 7,119 10,887 10,887 Indirect Sales Tax Number of Rooms 23 Days per Year 365 2,094 Occupancy Ratea 53% 85% Occupied Nights 4,449 1,780 1,310 People per Room 2 3 3 Average Spending per Day (per Aspen Finance Director) $ 137 $ 137 $ 137 Total Indirect Spending $1,219,122 $731,434 $538,278 City of Aspen Sales Tax Rate 2.20% 2.20% 2.20% Total Indirect Tax 26,821 16,092 11,842 27,934 TOTAL DIRECT & INDIRECT TAX TO ASPEN 33,940 38,821 SALES TAX SUMMARY Prior Owner LRSH - Fractional Ownership Difference TOTAL ANNUAL GAIN/(LOSS) OF ALL SALES TAX 33,940 38,821 4,881 TOTAL GAIN/(LOOSS) OVER 5 YEARS 169,698 194,104 24,406 1 Actual Sales/Lodging Tax collections for prior 5 years unavailable from City or prior owner. Estimate prepared based upon information supplied by current owner z Calculated Based Upon 1,000 sq ft food and beverage facility averaging $150 per day in food/beverage sales to guests. Source: owner estimate 3 Aspen average occupancy rate since 1985 per ACRA. Higher occupancy rate for fractional ownership units based upon statistics obtained from two sources - National Real Estate Investor article (3/1/2003) and San Francisco Examiner story (9/13/02) EXI]]Ult LU Little Red Ski Haus Fiscal Impact Analysis Of Fractional Ownership Development Sales and Lodging Tax Detail 2004 2005 2006 2007 2008 Average Direct Sales Avergage Daily Rate $ 200 $ 206 $ 213 $ 219 $ 226 Room Nights Available to Rent - beg of year 3,878 2,933 2,114 1,316 602 I Room Nights Available to Rent - end of year 2,933 2,114 1,316 602 35 Average Room Nights Available to Rentl 3,406 2,524 1,715 959 319 Occupancy Rate 53% 53% 53% 53% 53% Projected Room Nights Rented 1,805 1,337 909 508 169 946 Projected Room Revenue $ 360,983 $ 275,783 $ 193,236 $ 111,404 $ 38,146 Peak Week Room Nights Availablez 364 364 364 364 364 364 Peak Week Average Daily Rate 275 $ 284 $ 292 $ 301 $ 311 Peak Week Projected Revenue $100,100 $103,203 $106,402 $109,701 $113,102 $106,502 Total Projected Room Revenue $461,083 $378,986 $299,638 $221,105 $151,248 $302,412 Sales & Lodging Tax Rate 3.20% 3.20% 3.20% 3.20% 3.20% Projected Sales & Lodging Tax 14,755 12,128 9,588 7,075 4,840 $9,677 Indirect Sales Total Room Nights Available 3,878 3,878 3,878 3,878 3,878 Average Room Nights Available to Rent 3,406 2,524 1,715 959 319 Average Room Nights Sold to Fractional Owners 473 1,355 2,163 2,919 3,560 2,094 1 Calculation subtracts room nights sold to fractional owners during year based upon sales plan 2 LRSH plans to hold back 4 weeks per year per room from fractional ownership use to rent entire lodge to groups Exhibit 3a Little Red Ski Haus Fiscal Impact Analysis Of Fractional Ownership Development Real Estate Transfer Tax Summary Tax As Fractional Increase to Rate Lodge Ownership City o f Aspen Fractional Ownership Units Sold 1 187 Average Sales Pricel $ 2,164,800 - Total Project Sales $ 2,164,800 $ 16,668,000 $14,503,200 Specific Project Taxes Wheeler Opera Tax 0.50% 10,824 83,340 72,516 Employee Housing and Daycare Tax2 1.00% 20,648 16,200 (4,448) TOTAL TRANSFER TAX 31,472 99,540 68,068 1 Lodge market value based on 2003 property assessment provided by Pitkin County Assessor's Office 2 Affordable Employee Housing and Daycare Tax Rate does not apply to first $100,000 of a transaction Exhibit 3b Little Red Ski Haus Fiscal Impact Analysis Of Fractional Ownership Development Real Estate Transfer Tax Detail 2004 2005 2006 2007 2008 Total Total Unit Sales & Resales 41 38 39 37 32 187 Total Dollar Sales per Year 2,792,000 2,980,000 3,470,000 3,930,000 3,496,000 $ 16,668,000 Number of Sales<$100,000 37 27 22 19 14 119 Value of Sales <$100,000 2,312,000 1,740,000 1,520,000 1,560,000 1,116,000 $ 8,248,000 Number of Sales > $100,000 4 11 17 18 18 68 Value of Sales >$100,000 480,000 1,240,000 1,950,000 2,370,000 2,380,000 8,420,000 Wheeler Opera Tax 13,960 14,900 17,350 19,650 17,480 83,340 Employee Housing and Daycare 800 1,400 2,500 5,700 5,800 16,200 14,760 16,300 19,850 25,350 23,280 99,540 Little Red Ski Haus Fiscal Impact Analysis Of Fractional Ownership Development Real Property Tax Summary Prior Owner LRSH Fractional Ownership Development Historic Property Taxes Property Tax Forecast 1998 1999 2000 2001 2002 2004 2005 2006 2007 2008 Real Property Taxes Value of Land n/a n/a n/a n/a 596,500 787,500 787,500 787,500 787,500 787,500 Value of Improvements n/a n/a n/a n/a 215,700 3,237,882 3,237,882 3,237,882 3,237,882 3,237,882 Commercial Improvements 510,944 510,944 510,944 510,944 510,944 Total Value' n/a n/a n/a n/a 812,200 4,536,326 4,536,326 4,536,326 4,536,326 4,536,326 Property Tax Revenue Estimated Assessed Value n/a n/a n/a n/a n/a 468,634 468,634 468.634 468,634 468,634 Pitkin County Millage Rate n/a n/a Wa n/a n/a 29.738 29.738 29.738 29.738 29.738 Property Taxes 8,933 1,887 2,113 2,210 2,206 13,936 13,936 13,936 13,936 13,936 City of Aspen portion 3 1,622 343 384 401 401 2,531 2,531 2,531 2,531 2,531 REAL PROPERTY TAX SUMMARY Prior Owner LRSH Proposal (1998-2002) (2004-2008) Difference PITKIN COUNTY TOTAL 17,349 69,681 52,332 CITY OF ASPEN TOTAL 3,151 12,654 9,503 1 Only information available for prior owner time period from Pitkin County Assessor's website is real estate taxes paid 2 Value of LRSH as Fractional Ownership Development conservatively determined based upon average per square foot value of condominium sales in 2 city block area surrounding LRSH during 2000 to 2002, data supplied by Pitkin County Assessor's Office. 3 Projected mill rates based upon 2002 rates - Pitkin County 29.738 per $1,000 value, City of Aspen portion 5.401 per $1,000 value, or 18.16% of total property tax Exhibit 5 Fiscal Impact Analysis Little Red Ski Haus Fractional Ownership Development Tax Mitigation Fee Calculation - City of Aspen Fractional Ownership Mitigation Tax Prior Owner Development Fee Transfer Tax $ 31,472 $ 99,540 $ - Real Estate Tax $ 3,151 $ 12,654 $ - Sales & Lodging Tax $ 169,698 $ 194,104 $ - TOTAL REQUIRED FEE $ 204,321 $ 306,298 $ - $ 101,978 Exhibit 6 Little Red Ski Haus Fiscal Impact Analysis Of Fractional Ownership Development Present Value Calculations 1998 1999 2000 2001 2002 Actual Projected 2004 2005 2006 2007 2008 Current -5 Current -4 Current -3 Current -2 Current -1 Average Average Current +1 Current +2 Current +3 Current +4 Current +5 Aciual and Projected Transfer Tax 0 0 0 - 31,472 6,294 19,908 14,760 16,300 19,850 25,350 23,280 Real Estate Tax 1,622 343 384 401 401 630 2,792 2,613 2,698 2,790 2,885 2,974 Sales & Lodging Tax 33940 33,940 33,940 33,940 33,940 33,940 42,858 40,078 41,386 42,790 44,254 45,782 Totals 40,865 65,558 Difference 24,693 Net Present Value NPV Factor 115.87% 113.47% 110.57% 106.61% 101.93% 100.00% 100.00% 96.90% 93.90% 90.99% 88.17% 85.43% Transfer Tax - - 31,472 6,294 17,982 14,302 15,306 18,062 22,351 19,888 Real Estate Tax 1,880 389 424 428 408 706 2,538 2,532 2,533 2,538 2,544 2,541 Sales & Lodging Tax 39,326 38,512 37,527 36,183 34,595 37,229 38,952 38,835 38,862 38,935 39,019 39,111 TOTAL TAXES COLLECTED 44,230 59,472 Difference 15,242 Appendix A 2002 Property Tax Millage Rates Total Projeted Post Development Value 4,536,326 Estimated Assessed Value 468,634 Property Tax Breakdown Millage Rate Revenue Aspen School District 0.008946 4,192 City of Aspen 0.005401 2,531 Colorado Mountian College 0.003997 1,873 Open Space & Trails 0.003758 1,761 Pitkin County 0.003249 1,523 Aspen Valley Hospital 0.001500 703 Pitkin County Library 0.001038 486 Aspen Fire Protection 0.000876 411 County Housing Debt 0.000310 145 Colorado River Water Conservation 0.000253 119 Aspen Sanitation District 0.000208 97 Aspen Ambulance District 0.000202 95 Total Projected Pitkin County Property Tax Mill Rate 0.029738 $ 13,936 Appendix B Historical Consumer Price Index Datal CPI Annual Half 1 Half 2 annual Half 1 Half 2 1983 100.5 1984 104.3 103.6 105.1 3.8 3.78% 1985 107.1 106.4 107.8 2.8 2.68% 1986 107.9 107.4 108.3 0.8 0.75% 1987 110.8 109.9 111.6 2.9 2.69% 1988 113.7 112.8 114.7 2.9 2.62% 1989 115.8 115.0 116.6 2.1 1.85% 1990 120.9 119.4 122.5 5.1 4.40% 1991 125.6 124.8 126.4 4.7 3.89% 1992 130.3 129.0 131.6 4.7 3.74% 1993 135.8 134.6 137.0 5.5 4.22% 1994 141.8 140.0 143.6 6.0 4.42% 1995 147.9 146.9 149.0 6.1 4.30% 1996 153.1 152.0 154.2 5.2 3.52% 1997 158.1 157.1 159.1 5.0 3.27% 1998 161.9 160.5 163.3 3.8 2.40% 1999 166.6 165.1 168.2 4.7 2.90% 2000 173.2 171.4 175.1 6.6 3.96% 2001 181.3 180.7 181.1 8.1 4.68% 20 Yr Avg 2002 184.8 184.6 185.1 3.5 1.93% 2003 Use Average of Past 19 Years 3.26% 3.26% 2004 3.26% 3.24% 2005 3.26% 3.27% 2006 3.26% 3.39% 2007 3.26% 3.42% 2008 3.26% 3.45% 1Denver, Boulder, Greeley Metropolitan Area APPENDIX C Assumptions Assumptions for Transfer Tax Analysis 1 5% Owner Resales per RCI Consulting: National Survey of Property Owners 2 Number of available units to be fractionalized 12 3 Total number o f possible Fractional Interests 192 4 Average Initial Sales Price ofFractionalized Interests $ 84,838 5 Average sales price per square foot of condo sales in surrounding 2 city blocks $ 766 6 Total Square feet of rooms 4,227 7 Total Square feet of Common areas and restaurant 2,545 8 Total Square feet o f restaurant alone 1,000 9 Value of Commercial Improvements per 2003 assessment, per square foot $ 201 10 Fractional interests will be assessed Single Family Residential after plan is approved 11 Wheeler Opera Transfer Tax 0.5% 12 Employee Housing and Daycare Tax (on transfers over $100,000) 1.0% Assumptions for Real Estate Tax Analysis 13 Mill Levy will remain approroximately the same as 2002 29.738 14 As Built value is identical to the Assessor's valuation for 2002 $ 2,164,800 Assessment Valuation Percentages 15 Single Family Residence - Land 7.96% 16 SFR - Improvements 7.96% 17 Commercial Improvements 29.00% Assumptions for Sales Tax Analysis 18 Historical Average Rental Rate - Prior Owner $ 50.00 19 Current Average Rental Rate As Proposed $ 200.00 20 For Rental purposes, the suite can be rented as 2 separate rooms 21 Current City Sales Tax Rate 2.2% 22 Annual tax contribution of food and beverage facility $ 1,210 23 Annual per square foot sales of food and beverage facility $ 55 Ok 66 Pe 7 GlYCOUNC]LNÂ¥80#1 1 LITTLE RED SKI HAUS Te. 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Uul, 1, LVVJ 9:V / AM bitWAKI liILE ASPEN NO. 9452 P 2 486840 Page: 1 af 8 08/13/2003 09:51A 1111111,11' lili - lill i 1111111111111 lIlli SILV_A OAA,5 PI-K N COL:.T' Co R 41,00 0 0.00 PUD AGREEMENT FOR THE LITTLE RED SKI HAUS PROJECT THIS AGREEMENT is made this j j day of September, 2002, between the UTTLE RED SKI HAUS, LLC, a Colorado corpAration, (the "Owners") and THE CITY OF APSEN, a municipal corporation (the "City"). WITNESETH: WHEREAS, The Owners own that certain real property (the "Propertf') known as the Little Red Ski Haus, located at 118 East Cooper Avenue in the City of Aspen, County of Pitkin, State of Colorado, legally described as: Lot O and the western half ofLot P, Block 69. City and Townsite of Aspen, County of Pitkin, State of Colorado; and, WHEREAS, the Property is being redeveloped by the Owners as follows, where said redevelopment is hereinafter referred to as the "Projects': â€¢ The Project includes all conditions set forth in Resolution No. 4. Series of 2002 approved by the Aspen Historic Preservation Commission approving a Final Review request for the Little Red Ski Haus Redevelopment. WHEREAS, pursuant to Ordinance No. 11, Series of 2002 ("Ordinance'5, the City approved a Minor Planned Unit Development approval, Rezoni,to R/MF, Residential Multi- Family, With a Planned Unit Development and Lodge Preservation Overlay Zone Districts for the Project; and a WHEREAS, the City and the Owners wish to enter into a PUD Agreement for the Project; and WHEREAS, the Owners have submitted to the City for Approval, execution and recordation, a final plat for the Project (the "Plat") and the City agrees to approve, execute and record the Plat at Owners' expense on the agreement of the Owners to the matters described herein, subject to the provisions of the Municipal Code of the City of Aspen (the "Code'), the Ordinance, and other applicable rules and regulations; and WHEREAS, the Owners are willing to enter into such agreement with the City and to provide assurances to the City. NOW, THEREFORE, in consideration ofthe mutual covenants contained herein, and the approval, execution and acceptance of the Plat for recordation by the City, it is agreed as follows: Page 1 of 8 LIttle Rcd Ski Haus, LLC PUD Agreernent .. Ul, 1. , 2903 9:0/AM SILWART TITLE ASPEN NO. 9452 ' 1 1 486840 Page. 2 of 8 Â· miumimimii 08/13/2003 09:SiA SILVIR DAVIS Pil'KIN COUNTY CO R 41.00 0 0.00 1. Description of Proiect. Demolition and reconstruction ofportions of the existing lodge to provide for the addition of approximately 518 square feet of Floor Area Ratio ("FAR"), to reconfigure the existing lodge rooms by reducing the number of lodge rooms from 22 dormitory style rooms to 14 traditional lodge rooms, and to excavate beneath the original structure of the Little Red Ski Haus to accommodate planned dining and kitchen facilities, 2. PUD Dimensional RequiremÂ®ts. As set forth in Section 2, Condition 23 ofthe Ordinance, the following dimensional requirements were approved by the City as part of the Project, are shown on the Final PUD Development Plans, and shall be printed on all final building permit plan sets: , 1. 1 , 0 ..24.,iJ , i. , 2 1, .. :.:34 9,04'ELE~:1'.+7 . Minimum Lot Size (square feet) 4,500 Minimum Lot Area per Dwelling Unit N/A Maximum Allowable Density 14 Lodge Units Minimum Lot Width 45 feet Minimum Front Yard Setback 10 feet Minimum West Side Yard Setback .5 feet Minimum East Side Yard Setback .5 feet Minimum Rear Yard Setback .25 feet Maximum Height 25 feet Minimum Distance b/w Buildings N/A Minimum Percent of Open Space Not Regulated Allowable Floor Arca (FAR) 1-35:1 (6,035 sq. it.) Minimum Off Street Parking 3 on-site spaces 3. Accentance ofPlat. Upon execution ofthis Agreement by the parties hereto, the City agrees to approve and execute the Final Plat for the Project submitted herÂ©with copies; which conforms to the plat requirements ofthe Land Use Code and the Ordinance. The City agrees to accept such Plat for recording in the office of the Pitkin County Clerk and Recorder upon Owners' payment of the recordation fee. 4. Development Requiremenk. The following development requirements will be satisfied by Owners pursuant to Ordinance No. 11, Series of2002. a. Wastewater and Surface Drainage. The site development will meet the runoff design standards of the Aspen Municipal Code at Section 26.580.020(B)(6). Full soil reports, drainage plans, and erosion and scdiment control plans for both during and after construction, will be submitted for review by the Engineering Department as part of the building permit application. The drainage and erosion control plan shall be prepared by a Colorado licensed Civil Engineer, and said plan shall demonstrate maintenance of sediment and debiis on-site during and after construction. If a ground Page 2 of 8 Little Red Ski Haus, LLC PUD Agreement Uul. 1. 29VJ 9 9/AM sIEWARI liILE ASPEN NO. 9452 P. 4 486840 lilli'11111111111'Mi luillilillill'll lilli Pag., 3 of 8 08/13/2003 09:51A SILkIA D VIS '!TKIN COLâ€¢.TY CO R 41.00 D 0.00 recharge system is necessary, a soil peroolation report will be required to correctly size the facility. A two-year storm frequency should be used in designing and drainage systems. Rain and snowmelt runoff must be detained and routed on-site. These facilities must be shown on the drainage plans and submitted for approval as part of the application for building permit. Drainage may be conveyed to existing landscaped areas if the drainage report demonstrates that the percolation rates and detention volumes meet the design storm drain. The drainage and erosion control plans shall prevent mud from getting tracked into the streets and shall demonstrate that roof drainage will not be discharged onto the sidewalk or into drain chases through the sidewalk. There shall be no clear water connections such as roof drains, foundation drains, or storm water connections to the City Consolidated Sanitation District sewage lines. b. Utility Connections. Utility meters and service connection points will be accessible to service personnel in the completed project and will not be obstructed by garbage or recycling containers, other structures or vegetation. Any necessary and new utility easements, required for surface utilitic6 such as pedestal or other aboveground equipment, shall be shown on the plan set submitted for building permits. The Owners shall install and replace utility service lines and appurtenances, as required, to the standard ofthe utility provider. The costs of any necessary upgrades to existing utility lines, systems, and/or facilities attributable to the Project will be borne by the Owners, The Owners will use good faith efforts to not disrupt utility service to adjacent properties during construction. Owners shall comply with the City of Aspen Water System Standards, with Title 25, and with applicable standards of Title 8 (Water Conservation and Plumbing Advisory Code) ofthe Aspen Municipal Code, as required by the City of Aspen Water Department, c. Fire Protectign. Owner shall install an approved fire sprinkler system and alarm system to the extent required by the Aspen Fire Marshal. d. Dust and Mud Control. Prior to the issuance o f any building permits, Owner shall obtain from the City Environmental Health Department approval of a Fugitive Dust Control Plan. The I?ugitive Dust Control Plan will include plans for fencing, watering of dirt roads and disturbed areas, daily cleaning of adjacent paved roads to remove mud that has been carried out, speed limits, or other measures necessary to prevent windblown dust from crossing the property lines or causing a nuisance. Mud shall not be tracked onto City streets during demolitiong. A washed rock or other style mud rack shall be installed during construction as a requirement of the City of Aspen Streets Department. e. Construction Management Plans. There shall be no storage of construction materials in or on the public rights-of-way. A full set of construction management plans will be submitted by the Owners to the City as part of the Page 3 of 8 Uttle Red Ski Hau#, LLC PUD Agreemwit UU I. 1, LOUD 9:00 AM 3]tWAKI lilLE ASPEN NO. 9452 P. 5 486840 Page: 4 of a iumullim Aill--il-u-illutlimlmia-1 08/13/2003 09:51* 5 LVIA DAVIS P.TK.N COUNT" CO R 41.00 D 0,00 building permit application and said management plan will include, noise, dust control, and construction traffic management plans aimed at addressing the following: (i) signal traffic control devices; (ii) press release via radio or local television; (iii) definition of construction hauling routes and anticipated impacts on local streets; and (iv) consmiction parking mitigation where, except for essential trade trucks, no personal trucks are to be parked on public streets around the site, and shuttling in of personnel from the airport parking area is encouraged. Construction is prohibited on Sundays and between the hours of 7:00 p.m. and 7:00 a,m. on all other days. f. Future Imvrovement District(s). Owners agree to join any future improvement district(s) formed for the purpose o f constructing public improvements, which directly benefit the property under a fair share assessment formula. Prior to the issuance of a Certificate of Occupancy for any part of the Project, Owners agree to sign a sidewalk, curb and gutter construction agreement and pay any applicable fees associated therewith. g. Exterior Lighting and Streetlights. Any and all outdoor lighting shall comply with the applicable portions of Section 26.575.150, Outdoor Lighting, of the Aspen Land Use Code. Ifthe existing streetlights are disturbed or damaged during construction, they shall be repaired or replaced in kind, as required, in alignment with the other streetlights along the subject street. h. Sidewalk. Curb and Gutter Improvements. As part ofthe Project, Owner shall construct a sidewalk including curb and gutter meeting City specifications and plans to protect the tree in the parkway. lf Owner chooses to heat the new sidewalk for snow and ice melting purposes, there shall be no use of Glycol and the City shall not be required to replace or repair the hcating system if the City ever has to cause damage to said system en route to completion of necessary work in the right-of-way. i. Trees, Prolection. Owner shall submit a tree protection plan to the Parks Department for review prior to the application for building permits, An inspection of all tree protection shall take place before any construction activities begin. A construction fence shall be installed at the drip line ofthe Cottonwood to be saved to the south of the structure: (i) The City Forester or his/her designee must inspect this fence before any construction activities commence; (ii) No excavation, storage of matmials, storage of construction equipment, construction backfill, foot or vehicular baffic shall be allowed within the drip line; (iii) Owncr shall hand exoavate the existing walkway being removed to protect the root system of the protected Cotionwood Tree. j- Building Permit Plan Recuimments. In addition to such requirements enumerat*1 above and otherwise required by the City of Aspen Building Department, the following information shall be submitted as part of the building permit application: a construction dust and noise mitigation plan; a Page 4 of 8 Linlc Rcd Ski Haus. 11Â£ PUD Avecmant OCT. i. 2003 9~08AM STEWART TITLE ASPEN NO. 9452 P. 6 486840 1111111 lili llilll lili[ mi lili lilli 111 lili lili lili page: 5 af 8 08/13/2003 09:51A SILVIA DAVIS PITKI COUNTY CD R 41.00 0 0.00 list of all conditions of approval associated with the Project; a completed tap permit for service with the Aspen Consolidated Sanitation District; a site improvement survey prepared by alicensed professional surveyor where said survey includes, as a minimum, monuments, setback lines, utility lines, pedestals and poles, casements, existing features Cim gation ditchcs, sidewalks, driveways, buildings, trees. etc,), and the surveyor's seal dated within twelve (12) months of the submittal; and plans for all improvements, snow storage, and utility pedestals. k. Asbestos, Owners shall notify the State prior to remodel, expansion or demolition of any buildings, including removal of drywall, carpet, tile, etc., and a licensed asbestos inspector must conduct an inspection. If there is no asbestos, the demolition can proceed. If asbestos is present, a state licensed asbestos removal contractor must remove it. Owners shall report these findings to the Environmental Health Department and Building Department prior to the issuance of demolition and building permits. 5. 1*ordation. Pursuant to Section 27.480.070(E) of the Aspen Land Use Code, once fully executed, this Agreement and the Final Plat shall be recorded inthe office of the Pitkin County Clerk and Recorder. Failure on the part ofthe Owners to record the plat within one-hundred eighty (180) days following approval by City Council shall render the plat invalid and reconsideration and approval of the plat by the Planning and Zoning Commission and City Council will be required before its acceptance and recording, unless an extension or waiver is granted by City Council for showing good cause, 6, Financial Securilv for Public Improvements. In order to secure thc performance of the construction and installation ofthe public improvements described above, Owners shall provide a financial instrument in tenns of a letter of credit, cash or other guarantees in a form satisfactory to the City prior to lhe issuance of any building permits for the Project. As part ofthe building permit application, a list and quantity of the ROW improvements being guaranteed, as estimated by the Owner's engineer or contractor, will be submitted to the City for review. The guarantee documents shall give the City the unconditional right, upon clear and unequivocal default by the Owners in its obligations to complete the public improvements, to withdraw funds against such security sufficient to complete and pay for instalIation for such public improvements, or to withdraw funds against such security sufficient to complete and pay for installation for such public improvements- As portions of the improvements am completed, the City shall inspect them, and upon approval and acceptance, the City shall authorize the releases of the agreed estimated costs for that portion of the improvements, except that ten percent of the estimated costs of the improvements shall be withheld for the benefit of the City until the completion of all of the described public improvements. The Owners shall require all contractors to provide the City with a two-year maintenance bond to ensure the expected performance of the improvements. In the event that any existing municipal improvements are damaged during the Project construction, on request by the City Engineer, a security suitable Page 5 of 8 Little Red Ski Haus, LLC PUD Agreement oCT. 1. 2003 9:08AM STEWART TITLE ASPEN NOÂ· 9452 P 7 1 Elillilli -111111111111111 111 08/13/2003 09:51A 486840 Page: 5 Of o SILL.A CA..8 PITICN C.L..T-t CO R 41.00 D 0.00 for the repair or replacement of those municipal improvements shall be provided by Owners to the City. 7. Notices. Notices to the parties shall be sent by United States certified mail to the addresses set forth below or to any other address which the parties may substitute in writing. To the Owners: David R. More Principal Managing Partner Little Red Ski Haus, LLC 3640 Falkner Drive Naperville, IL 60564 With CopY to: Beverly H. Fiore Business Manager Little Red Ski Haus, LLC 118 East Cooper Avenue - Box 8288 Aspen, CO 81612 To City of Aspen: CityManager 130 South Galena Street Aspen, CO 81611 With Copy to: City Attorney 130 South Galena Street Aspen, CO 81611 8. Binding Effect. The piovisions ofthis Agreement shall run with and constitute a burden on the land on which the Project is located and shall be binding on and inure to the benefit of the Owners' and the City's successors, personal representatives and assigns. 9, Amendment. The Agreement maybe altered or amended only by written instrument executed by the parties. 10. Severability. Ifany ofthe provisions of this Agreement am determined to be invalid, it shall not affect the remaining provisions hereof. Page 6 of 8 Little Red Ski Hous, LLC PUD Agreement OCT. 1,2003 9.09AM STEWART TITLE ASPEN NO. 9452 P. 8 111111 lilli- i -Ill lili Ill 111111111111 08/13/2003 09:51A 486840 Page: 7 of 8 S.LeTA CA&.6 PITKI COLNTY CO R 41.00 D 0.00 ATTEST: THE CITY OF ASPEN, a municipal corporation 11 W \ A *cu~, )24ek / / \.1 - INA - .- Kathryn S.#oth, City Clerk Ifelen'kladdAndAÂ¢tiy~ APPROVED AS TO FORM: ~9*/flai:Â£ MA li-le JohnWorcester, City Attorney LITTLE RED SKI HAUS, LLC ~~/'~~'~David R. FiorÂ©Â¢5~ Michael P. LÂ©Tourneau, Principal Mao<king Partner Managing Partner Renovation Page 7 of 8 Little Red Ski Haus, LLC PUD Agreement OCT. L 2003 9:09AM STEWART TITLE ASPEN NO. 945 2 ? 9 .. STATE OF COLORADO ) /Â¢Â« )ss. 4 1 JACKIE COUNTY OF PITKIN , 1 i -W')2) The foregoing instrument was 1~g-,6,~.,Defore me this 12:Â»tiay o~ 20(~ by Helen Ktanderud, Mayor, and ~.och, City Clerk. Witness my hand and official 94 My commission expires: 41'NÂ°t- 4Wit *62 ~tary Public 486840 STATE OFILLINOIS ) ~ ~| ~i m 1~Il IlllI11Ill lilill i pago: 8 of 8 08/13/2003 09:51A )SS. St,VIA CAVIS PI[KIN Cvt.nITY Ce R 41.00 D 0.00 COUNTY OF LAKE ) The foregoing instrument was acknowledged before me this . 4 4-~ay of September, 2002, by David R. Fiore, Principal Managing Partner, Little Red Ski Haus, LLC. Witness my hand and official seal. My commission expires: OFFICIAL SEAL' &-n B. Bon,ard Nom ~bli:, Slate al Illinois My Commlglon Exr,rp. 01 44Â·2004 Notary Public / STATE OF ILLINOIS ) )SS. COUNTY OF LAKE ) The foregoing instrument was acknowledged before me this /f-hy of September, 2002, by Michael P. LeTourneau, Managing Partner Renovation, Little Red Ski Haus, LLC. Witness my hand and official seal. My commission expires: ~-*FICIAL ~EAr -- - Notary public *f 31,1,1 0. 80â€¢gard ~ Hly Pulk Sta~ of WIno@ ~ ~ _14 Calâ€¢*n Expkes 01.24-2004 | Page S of 8 Little Red Ski Haus, LLC PUD Agreement NDERJUDY ALLEN DOUGLAS P ALYEMENI MOHAMMED & ALICE W FRONTAGE RD #254 520 E COOPER AVE STE 230 819 LINWOOD RD :O 81657 ASPEN, CO 81611 MOORESVILLE, NC 28115 1SEN PAUL EGON BARNES JACK & BONITA BECK GLENNIS GEORGE *STLE CREEK RD 125 E HYMAN AVE 2A 2928 SNOWMASS CREEK RD 1, CO 81611-3110 ASPEN, CO 81611 SNOWMASS, CO 81654 BINSTOCK ABBE I E ROCHELLE C RE TRST BLACKWELL CLARENCE A & ANNE H F LAT 2 ARTON CREEK BLVD #25 PO BOX 3180 2 EGERTON PLACE 4, TX 78735 ANNAPOLIS, MD 21403 LONDON ENGLAND, UK SW32EF ROBERT M BOVINO FAMILY INVESTMENTS LLC BRADFORD ALISON MADHAVI MEADOW BROOK LN 2201 S OCEAN BLVD APT 2803 3776 W 3700 N ;REEN, CO 80439 HOLLYWOOD, FL 33019 DARLINGTON, ID 83255 ER RICHARD BRANNEN CARMEN J BRAYMAN WALTER W & PATRICIA X 10605 525 PARK AVE #14B 5530 FAIRWAY I, CO 81612 NEW YORK, NY 10021 SHAWNEE MISSION, KS 66205 DER PHILIP G & ASMUTH BUSH ALAN DAVID CALLAHAN PATRICIA )NY 0046 HEATHER LN 0184 MOUNTAIN LAUREL DR ES & BRADY C/O ASPEN, CO 81611-3342 ASPEN, CO 81611 NISCONSIN AVE STE 2500 UKEE, WI 53202 GAN RICHARD A JR CARRUTHERS MARILYN CHALET LISL PARTNERSHIP LTD LABS 101 E COOPER #301 100 E HYMAN AVE ND WILSON RD ASPEN, CO 81611 ASPEN, CO 81611 IA, IL 60510 GO SNOWFLAKE CORPORATION CITY OF ASPEN CLARK ANDREA WELL PROPERTIES CORP 130 S GALENA ST PO BOX 6452 )KIE BLVD STE 350 ASPEN, CO 81611 CHICAGO, IL 60680-6452 1BROOK, IL 60062 ;EN FAMILY TRUST NO 1 COHEN FRANK R COHEN JACK DAVID CNDS JOHN W TRUSTEE 335 DETROIT ST #504 715 HEARTHSTONE DR X 685 - BASALT, CO 81621 DENVER, CO 80206 IS, IL 60450 CRETE ASSOCIATES LP AAN ISAIAH CROCKETT RUFUS C/O UNIVERSITY CITY HOUSING CO X 11239 PO BOX 3837 PO BOX 1524 Â£ CO 81612 ASPEN, CO 81612 BRYNMAWR, PA 19010 I . AN CHRISTINA H DALTON CHARLES O & SUSANNA C DAVIS BRUCE L R & MRS RWE NEILSON 4406 N OCEAN BLVD PO BOX 8851 S HOUSE SANDY LN MYRTLE BEACH, SC 29577 ASPEN, CO 81612-8851 EFIELD HARROGATE, HG3 5DT UK 41\IY EARL H 111 & ELIZABETH H DEWIND JODETTE L DEWIND JODETTE L V 59TH ST 100 E COOPER AVE #3 119 E COOPER - APT 12 AS CITY, MO 64113 ASPEN, CO 81611 ASPEN, CO 81611-1772 JOSTIC IMAGING ASSOCIATES DOLLE NORMA DOLLE NORMA L 55% 3 WADSWORTH #250 124 E COOPER AVE 1103 HERITAGE DR VOOD, CO 80235 ASPEN, CO 81611 CARBONDALE, CO 81623 FAIRHOLME INVESTMENTS LTD DIANA ROQUE FEDER HAROLD L & ZETTA F C/O MARINI & ASSOCIATES MULHOLLAND DR 210 E HYMAN AVE #4 TWO S BISCAYNE BLVD STE 3580 RLY HILLS, CA 90210 ASPEN, CO 81611-2912 MIAMI, FL 33131 SUSAN FULSTONE AMY HAYDEN FUQUA ALVAH D JR & DIANNE L COOPER AVE UNIT 11 31 RIVERS RD 446 LAKE SHORE DR 4, CO 81611 SMITH, NV 89430 SUNSET BEACH, NC 28468 GEORGIEFF KATHERINE TRUSTEE OF ALD JON ERIK & GUDRUN L GILBERT CHARLENE B THE ECI L RD P O BOX 35 KATHERINE GEORGIEFF REVOCABLE NGTON, DE 19807 CARBONDALE, CO 81623-0035 LIVING TRS #11 TOPPING LN ST LOUIS, MO 63131 GLICKENHAUS & CO 3URG ANNE C & ROBERT B GLISMANN JOHN P ATTN: DAVID FISCHER CORKSHIRE CT PO BOX 4999 6 E 43RD ST RATON, FL 33496-1323 ASPEN, CO 81612 NEW YORK, NY 10017 GUTNER KENNETH H REVOCABLE MAN SHERYL LYNN GUBSER NICHOLAS J TRUST COOPER ST STE 210 PO BOX 870 GUTNER KENNETH H TRUSTEE N, CO 81611 ASPEN, CO 81612 PO BOX 11001 ASPEN, CO 81612 TERRY L HARTMAN FAM PTNR LTD HEALY JOSEPH E ' COOPER AVE #3 209 W FELICITY ST 11470 COMPASS PT DR N, CO 81611 ANGOLA, IN 46703 FORT MYERS, FL 33908-4949 WILLIAM D HERRON SANDRA HOTEL DURANT DURANT AVE APT 1 1245 FRANCISCAN COURT - #2 122 E DURANT N, CO 81611-1769 CARPINTERIA, CA 93013 ASPEN, CO 81611 . I J & E HANSEN LLC H HAZEL C IVES THEODORA H C/O EDWARD HANSEN DH DR APT #1002 1874 SPINDRIFT DR 204 E DURANT AVE rERSBURG, FL 33701 LA JOLLA, CA 92037 ASPEN, CO 81611 ;ON KATHIE JACOBSON FAMILY TRUST JOBE MARCIA )X 1667 2168 SANTA MARGARITA DR P O BOX M-3 JA BEACH, CA 92075-7667 FALLBROOK, CA 92028 ASPEN, CO 81612 KAUFMAN STEVEN B TRUST ;TON MARGARET S 9.87% KAPLAN BARBARA C/O VIRGINIA HARLOW <TER ST 3076 EDGEWOOD RD 0554 ESCALANTE ER, CO 80220 PEPPER PIKE, OH 44124 CARBONDALE, CO 81623-8770 MARGE A/IVA MARGARET KEITH JOHN 111 KESSELRING ROBERT D 1 ST LOUIS AVE 300 PUPPY SMITH ST #205-230 100 E COOPER AVE #12 GO, IL 60618 ASPEN, CO 81611 ASPEN, CO 81611 UCHARD & LAUREN KIRSCHNER CAROLE J KNAPP MICHAEL ULVER BLVD STE 203 300 PUPPY SMITH #203 PMB 278 137 PEARL ST R CITY, CA 90232 ASPEN, CO 81611 GRAND RAPIDS, MI 49503-2808 LARKIN FRED C EDWIN V JR & WILMA C LAMAN WILLIAM H AND E MARGRIT LARKIN LUCETTA M EAT MEADOW LN 2301 CALLE LOS ALTOS ONE COVE LN CT 06001-4549 TUCSON, AZ 85718 LITTLETON, CO 80123 LENN EUGENE LEATHERMAN ROBERT D LEBBY ERIN X 2537 PO BOX 11930 PO BOX 1352 I, CO 81612 ASPEN, CO 81612 ASPEN, CO 81612 LIMELITE INC 3HAM LARRY 45% LIMELITE INC A COLORADO CORPORATION DOOPER AVE 228 E COOPER 228 E COOPER AVE I, CO 81611 ASPEN, CO 81611 ASPEN, CO 81611 TE INC LIPTON DONN H & MARILYN G LITTLE RED SKI HAUS EROY G TRUSTEES 118 E COOPER AVE DOOPER AVE 1600 WOODSON RD ASPEN, CO 81612 I, CO 81611 ST LOUIS, MO 63114 EAGLE TRUST MACALPINE KENDRA M 1991 TRUST MACDONALD VALERIE X 3550 101 E COOPER AVE - APT 201 PO BOX 1681 I, CO 81612 ASPEN, CO 81611-1758 ASPEN, CO 81612 .. EZ JOSEPH C MESSNER CHRISTIAN MILLER R GREG 4999 13320 MULHOLLAND DR PO BOX 4577 CO 81612 BEVERLY HILLS, CA 90210 ASPEN, CO 81612 MORRONGIELLO CHARLES AND N LUCINDA P MURRAY ELIZABETH MORRONGIELLO LYDIA ;1-WOOD ROAD PO BOX 10459 18 SCHOOL LN CO 81611 ASPEN, CO 81612 LLOYD HARBOR, NY 11743 JARLENE NEWMAN KERRY J & RICKI R NORRIS JOAN DOPER ST #6 617 PRINCE DR 3334 E COAST HWY PMB 145 CO 81611 NEWBURGH, IN 47630 CORONA DEL MAR, CA 92625 )LDINGS LP OKEEFFE JENNIFER 1/2 OTT JOHN & CAROL 541208 104 W COOPER #5 101 E COOPER AVE #203 ,TX 75354 ASPEN, CO 81611 ASPEN, CO 81611 )UNT INVESTMENTS INC PERREAULT GEORGE C PINES LODGE DEVELOPMENT LLC LIAM POPE 7336 CAPTAIN KIDD AVE 960 E DURANT AVE #7 MUGGLER SARASOTA, FL 34231-5442 ASPEN, CO 81611 CO 81611 N KATHRYN POPKIN PHILIP G PRODINGER IRMA 11930 PO BOX 7956 PO BOX 1245 CO 81612 ASPEN, CO 81612 ASPEN, CO 81612 ROSE JON E SSEN DAVID L & RITA M RENO ASPEN PROPERTIES LLC ROSE RITA L CERN CT 210 E HYMAN AVE #202 303 MAGNOLIA LAKE DR TON, TX 76012 ASPEN, CO 81611 LONGWOOD, FL 32779 Y DANIEL W RUTLEDGE WILLIAM O IV 60% SARICK SHEREEN CLAIRE PPALOOSA RD 305 S ASPEN #2 95 BARBER GREEN RD APT305 CLARITA, CA 91387-4806 ASPEN, CO 81611 DON MILLS ONTARIO CANADA, M3C2A2 ERS-WHITE CAROL REV TRUST SCHEUER KIM SCHIFFER SPENCER F .8100 100 E COOPER #2 985 CEMETERY LN CO 81612 ASPEN, CO 81611 ASPEN, CO 81611 JAMES E SEVERY CHARLES L 70.39% SHANDS THOMAS A 20% .2051 30 DEXTER ST 305 S ASPEN #2 CO 81612 DENVER, CO 80220 ASPEN, CO 81611 BÂ¢ 66- 9 9 LITrl E RED SIC HAus ' ALLEY 39'-5Â» . 908Â¥9300'E ~ 8'-0" ~ DUMPIER 8'-0" 8 -u . , ' ' ~- F~-1 * 0 * D . % - 0 - L -3 - - - - / UNE OF DECK [------- ~ 11 ' - ABOVE \ / /7 0 il 1.U n 22> ..9 .41,1864 BUMPERS AT FRONT OF EACH PARKING | -- STALL- 21.-.-- " - ... 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