HomeMy WebLinkAboutLand Use Case.AC.Land Acquisiton Program.AC 1977-1
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RESOLUTION OF THE ASPEN SKIING ADVISORY COMMISSION TO
ASPEN CITY COUNCIL
WHEREAS, tneAspen Skiing Advisory Commission would like to take the nextfhirty days to
examine the following categories pursuant to their study of setting up a Recreation District:
I) A legal opinion regarding the matter of the cTeation of a Recreation District; 2) A general'
reaction of the people of the community to the proposed Recreation District; 3) A stotement
of the financial feasibility. Pursuant to the above, the Aspen Chamber of Commerce has been
approached at their last meeting, and those directors present voted unanimously for the
Commission to pursue the feasibility study for the ultimate forming of the proposed Recr.eation
District,
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WHEREAS, the Aspen Skiing Corp. was given very nominal lease terms when it was formed
twenty years ago with the understanding that it wou Id remain a vita I force in the development
of Aspen and it has.not honored these agreements. Also, the Aspen Skiing Corp. has been
very restrained in its support of a number of community projects and has not encouraged the
most healthy community development,
WHEREAS, the Aspen Skiing Corp. subsenquently raised children's rates to an exorbitant
price and eliminated special Tesident rates to the effect of dTiving many of the local citizens
off Aspen Mountain,
WHEREAS, the Aspen Skiing Corp. is now engaged in setting up another skiing area at
Snowmass which could create a conflict of inteTest, such as causing them to lower the rates
in the new area to attact business there, and possibly providing more publicity for the Snowmass
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area, and constituting a detriment to the healthful development of the Aspen community,
WHEREAS, the Aspen Skiing Corp., in the past, in times of need, has received assistance
from this community, such as during the times of the Jeep lift, and a sum of ,money in the
YEFlK
amount of $25,000 at 4% for ten notes, which provided a portion of the cost for the construc-
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tion of #3 Lift on Ajax Mountain, and Aspen citizens have Tisen to the aid of the Corporation
in times of emergency such as during avalanche rescue, which assistance was given whole-
heartedly by the residents of Aspen,
WHEREAS, Mr. D.R.C. Brown, in his letter to the Mayor, has indicated a willingness to
"discuss this matter in detail with properly authorized representatives of the Council",
THEREFORE, these duly authorized representatives who "really mean business and are not
motivated merely by a desire to haTass" propose to contlCtcT': Mr. D.R.C. Brown, President of
the Aspen Skiing Corp., and duly pursue the necessary details, accounts, books, records,
agreements, contracts, Freehold Estates, leases, options, etc., etc., of the Aspen Skiing
Corp., which must seriously be considered so an "offer made in good faith (which) would
place a fair valuation upon these properties" for their eventual acquisition by the proposed
Recreational Districh., (*Note: All quotes are from Mr. D.R.C. Brown's letter to
Mayor Barnard.)
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D. R. C. BROWN, PRESI DENT
ASPEN MTN
BUTTERMILK. SNOWMASS
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January 19, 1966
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Robert Barnard, M. D.
Mayor, City of Aspen
Aspen, Colorado
Dear Sir:
I understand that the Aspen City Council has approved in
principle the' formation'bf 'a recreation district for the
purpose of taking over the properties and the operation
of the ski lifts on Aspen Mountain now owned and operated
by the Aspen Skiing Corporation.
You no doub:t realize that the Aspen Skiing Corporation
has built up a solid and prosperous business which still
has a tremendous growth potential. I am, however, sure
that the directors and stockholders of the company would
be willing to give serious consideration to any offer made
in good faith which would place a fair valuation upon
these properties.
If your group really means business and is not motivated
merely by a desire to harass a business which is a
dominant factor in our local economy, I shall be glad
to discuss the matter in detail with properly authorized
representatives of the Councilor the district.
-Very truly yours,
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D. R. C. Brown, President
DRCB/ao
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ASPEN CITY COUNCIL
Aspen, Colorado
Gentlemen:
March 2, 1966
The Aspen Skiing Advisory Commission is not proceeding
along the lines I had intended for it 'and therefore I am
asking that certain city employees and office holders be
allowed by the council to assist me in.gathering the necessary
data in order that the City Council may ultimately ~ake a
decision regarding the formation of a Recreation District
whose purpose it would be to acquire and run the lift
facilities on Aspen Mountain and possibly also those on
Buttermilk Mountain.
To be specific, I would like the aid of the following
persons in gathering data on the Subjects listed numerically
below:
1. Leon 1vurl - Labor relations and the relation between
wage rates, seniority, fringe benefits
and retirement pension plans.
2. Skip Flewelling - Tax advantages resulting from the
district. Determine the total amount of
Federal income, State income and Pitkin
County property taxes paid in past 10 years.
Determine how much revenue would be
produced by the 1% sales tax on sale of
lift tickets.
3. Lorraine Graves - Determine what percent of ski lift
ticket revenue comes from cash type of
ticket sold (i.e. daily, 3 day, weekly,
seasonal, resident, tourist, children, etc.)
4. Janet Gaylord - Obtain copies of all leases, contracts
and other agreements pertaining to the
continuing operation of the Aspen Ski
Corporation on Aspen and Buttermilk.
Mountains. In the case of Janet, !3he
has agreed to perform the above service
without compensation and would require
funds only for the cost of copying
documents, etc.
The procuring of the services of the above persons would
materially aid me in the formidable project that has been
undertaken in this proposed recreation district.
Signed
Mayor Robert Barnard
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REPORT OF ASPEN SKIING ADVISORY COMMISSION
To The Aspen City Council and Mayor
Aspen, Colorado
Gentlemen:
After exhaustive study into the legal and economic
feasibility of the City of Aspen attempting to acquire
the skiing facilities owned by the Aspen Skiing Corporation
on Aspen and Buttermilk Mountains, your Commission came
to the following conclusions:
1. that Colorado statutes do provide for such an
acquisition by the city under certain conditions.
2. that such a project would be economically
feasible and could be made the basis for a
larger recreation district.
3. that certain tax advantages would accrue to
such a facility.
However, in the course of our investigation it became
amply clear that the Aspen Skiing Corporation did not wish
to sell such properties voluntarily and that said acquisition
of skiing properties would perforce have to be accomplished
by condemnation. Hence it follows logically that to pursue
such a course would be extremely costly and time consuming.
For these reasons primarily, your Commission recommends
that this project be dropped and its efforts terminated
with this report.
The Commission in the course ,of its' investigation
learned that there is a possibility that ski lifts might
be brought under control of the PUC at some future date.
The Commission, however, feels that this should be the
subject for study by another group.
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Joel Hartmeister, Chairman
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DAN TSCHAPPAT COMPANY
REAL ESTATE. PROPERTY MANAGEMENT
526 E. HYMAN ST. (P. O. BOX 1022) ASPEN, COl.O. 81611
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(303)..925/7seo
March 21, 1972
Mr. Charles Gilkey, City Engineer
. City of Aspen
Aspen, Colorado 81611
Dear Mr. Gilkey:
In accordance with your request I have inspected the following Aspen
properties, The purpose of this appraisal is to determine fair market
value as of this date. The estimate of value is as follows:
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$ 66,000,Oo.fJ I ~
1. Lots P and Q, Block 81, 6,000 sq. ft,. total
Value - $33,000,00 each Total
2. East 7 -1/2' of Lot P and LotsQ, R, and S, Block 93
9,750 sq, ft, total
East7-1/2' of Lot P
Lot Q with improvements
.Lot R with improvements
Lot S with improvements
6,000.00
35,000.00
35,000,00
38,000,00
Total Value
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$114,000.00
3. Parcel "A", 47,916 sq. ft. per your map and located along
Roaring Fork River, D and RGWRailroad R. O. W., bounded '" I';"
on South by North Street $ 71, 874. 00 !:,'Y / t,
Total Value
4. Parcel "B" 78, 885 sq. ft. per your map and located along D and RGW
Railroad R. O. W. bounded on South by Smuggler Street, bounded on ,'"
West by North Aspen Street, bounded on North by North Street /-1-'///1'
. Total Value $118,327.00
Please call us if we can be of further service in this matter,
Respectfully suhmitted,
DAN TSCH~AT COMPAN
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Dan E. Tschappat, Bro e
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PROPERTY MANAGEMENT
BUSINESSES
SKI LODGES
CONDOMINIUMS
HOMES
BUILDING SITES
RANCHES 8: ACREAGES
INVESTMENT TRUSTS
LANO SYNDICATES
. TRADES
qa,~aId Real tdcde eO.,
P ,0. Box 3557 - Aspen, Colorado 81611
Phone 303- 925-1630
March 10, 1972
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City of Aspen
Box V
Aspen, Colorado
Gentlemen:
With respect to the market valuation of Lots P and Q, Block 81, City and Townsite
of Aspen, which adjoin the Wheeler Opera House, I estimate the two lots sold
together would bring a price of approximately $58,000.00; whereas individually
sold, each lot should bring $33,000.00. "..1_ ,- 1, t-7/"'f'
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These figures are based on two previous sales and the present market interest.
81611
The property on which the Cooper Building sits, 508 East Cooper, sold for $11.00
per square foot two years ago. Although this property would sell for more at
this time, it is better located. Another sale which is more comparable in value
is the single lot that sold immediately East of the Elks Building for $36,000.00.
I feel that more than the fair market value was asked and received due to the
dire need of the purchaser.
Very truly yours,
RPF: 1s
SKI COUNTRY U. S. A.
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James J. Mollica & Associates, In~
Real Estate Appraisers and Consultants
Aspen, Colorado
Mason & Morse Building. 315 East Hyman Avenue, Aspen, Colorado 81611.303/925-8987
February 22, 1977
Mr. Philip S. Mahoney
Aspen City Manager
130 S. Galena St.
Aspen, CO 81611
Re: An appraisal of Lots P & Q Block 81
City and Townsite of Aspen
Dear Mick:
As you. have requested, I have personally inspected the subject lots and
their current lease agreement for the purpose of estimating their Fair
Market Value, both under lease and if free and clear.
This appraisal is offered in letter form as an update of my original
appraisal for the Shaw Estate, dated March 1974. Your appraiser has
deleted the local data and specifics of the property, since the client is
well familiar with this information. If at a future date a full narrative
appraisal would be necessary I could complete this from the information
contained in my files.
The following is a brief summary of the information that I have gathered
and analyzed in order to determine the value of the property, both under
current lease and as if free and clear from all leases.
Market Value as If Free and Clear
Your appraiser has gathered and analyzed eight recent sales of vacant land
in the commercial core. These sales range from March 1974 to June of 1976.
These sales are attached and summarized on the following pages.
The most recent sale is #7 which included three lots at the corner of
Hunter and Hopkins Avenue. These lots are presently being improved with
the Marcus Commercial Building. The property is slightly removed from the
commercial core, however, it has a very good corner location. This sale
took place in July 1976 at an indicated $31.00 per square foot.
Sale #4 is directly across the street from the subject and is the location
of the new Mason and Morse Building. This sale took place in June 1975 and
reflected a value of $17.00 per square foot. This sale was greatly restricted
as it was located in the Wheeler Opera House view plane. It was developed
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\"lIlJames J, Mollica, R.M,
,^\.,;:'",.,," Appraiser-Consultant
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Mr. Philip S. Mahoney
February 22, 1977
Page Two
with approximately 14,000 square feet of building, however, the low profile
of the building created somewhat less desirable rental space.
Sales #2 and #3 are very similar in location to the subject property, being
directly adjacent to the pedestrian mall. These sales took place in February
of 1974 and would require substantial time adjustment.
Recent appreciation rates in Aspen have been calculated in the area of 1~% -
3% per month over the past few years. Although it is difficult to calculate
appreciation rate with only five commercial sales, it is your appraiser's
opinion that an appreciation rate in the area of 2% per month could be well
supported by increased rentals and the lack of supply. After adjusting
these sales at 2% per month, a value in the area of $30.00 per square foot
is indicated.
Based upon these sales and adjustments and g~v~ng the most weight to Sale #8,
it is my op~n~on that if free and clear from all leases, the subject lots
would have a value of say, $30.00 per square foot.
$30.00 per square foot x 6,000 square feet = $180,000.
Indicated value if free and clear from all leases $180,000.
Estimated Value Under Current Lease
The subject property is currently under lease until October 15, 1980.
There are two additional options on the lease which would carry the lease
until October 15, 1990. This would indicate a total remaining lease period,
if option were renewed, of 12.5 years.
The rental rate on this property is $100.00 per month in condjuction with
the Mother Lode lease on Lots N & 0 of Block 81. The figure of $1,200.00
per year, including one-half of the taxes on the two lots, is for the south
60' of the lots.
The north 40' of Lots P & Q are not under lease and would appear to have
the highest and best use for parking spaces.
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The value of the leasehold estate, in your appraiser's op~n~on is best
measured by valuing the rights of the lessor in the lease agreement. These
rights are:
a. The right to receive an income during the period of the lease;
both the $1,200.00 per year and income from parking spaces.
b. The right to receive the land unencumbered at the end of the
lease term.
James 1 Mollica ~ Asso~ate& lor.
Real Estate Appraisers and Consultants
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Mr. Philip S. Mahoney
February 22, 1977
Page Three
The discounting is based on the "time - money" theory, which, briefly
stated, is the value of the right to receive a given sum of dollars of
value at a designated time in the future, as measured by applying the
discount process to the current value, e.g., the right to receive one
dollar in one year discounted 12% gives a current value of eighty-eight
cents to the future one dollar.
The "present worth of one" theory is the reversion factor which is used
to discount a single future payment to a present worth figure, given the
appropriate discount rate and discount period. This would reflect that
at the end of the term the property would be free and clear from all
leases. Therefore the question is, what is the.value of $180,000 in today's
money when you receive the use of it in 12.5 years?
The present worth of future collections (benefits, receipts) reflects the
present value of money to be collected at a specific future time when
discounted from that time to the present date at a specific rate of discount.
This suggests the present value of both the $1,200.00 per year rent plus
the estimated rent of the parking spaces on a yearly basis should be
discounted to the present time.
Your appraiser has considered current rents on parking spaces and he
believes it to be well justified at $30.00 per space x eight spaces = $2,880.00
per year. There are some expenses involved including taxes, insurance,
parking space maintenance, management and vacancy. These are estimated at
25%, indicating a net income to the parking spaces of $2,160.00.
The discounting
approach there
into account.
following:
process is a difficult theory to
are a number of assumptions which
For the purpose of this analysis,
understand. In a theoretical
your appraiser must take
your appraiser assumes the
1. That the subject lease of $1,200.00 per month is below market
and will most likely continue throughout the full length of the
extended terms.
2. Your appraiser indicated that appreciation rates in the area of
2% have been seen over the past few years. This appreciation
is coupled with risk speculation and inflation of dollars, factors
which are impossible to determine over the next 12.5 years of
the lease term. Therefore your appraiser cannot apply an
appreciation rate to the $180,000 to arrive at the value at the
end of the term.
James 1 Mollica ~ Associates, lilt
Real Estate Appraisers and Consultants
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Mr. Philip S. Mahoney
February 22, 1977
Page Four
As a result of ' this appraisal and analysis it is my opinion that the value
of the subject lots under current lease, as of February 22, 1977 is:
$94,544.
On the following pages your appraiser has listed details concerning the
lease agreement, further assumptions, and mathematical calculations to
support the value of the property under its current lease.
If I can be of further assistance in the interpretation or application of
the findings in this report, I trust you will not hesitate to call.
I hereby acknowledge that the Shaw Estate is an ongoing client of mine and
I further certify that I have no present or future contemplated interest
in the subject property, and to the best of my knowledge all of the infor-
mation contained in this report is accurate, and that my fee is in no way
contingent upon the valuation stated herein.
Thank you for this opportunity to be of service.
J es J. Mollica, R.M.
eal Estate Appraiser
Attached: Comparable Sales and Analysis Sheets, Lease Abstract and Valuation
Analysis, Compound Interest Tables and Appraiser Qualifications.
JJM:sy
James 1 Mollica {r ASSlltlale~ In~
Real Estate Appraisers and Consultants
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South 60 Feet of Lots P & Q of Block 81 Aspen
Analysis Under Current Lease
Lessor:
Lessee:
Term:
Extended
Shaw Estate
Gordon L. Whitmer
October 15, 1970 - October 15, 1975
Terms:
1st October 15, 1975 to October 15,
2nd - October 15, 1976 to October 15,
3rd - October 15, 1985 to OCtober 15,
1980
1985
1990
Rental: $lOO/month, $1,200/ year plus one-half taxes
1.
Assume north 40 feet of Lots, eight parking
$360/year = $2,880 less average expenses of
maintenance and management, vacancy - 25%.
Income: $2,160.
spaces at $30.00/month,
taxes, insurance,
Estimated Net
2.. Assume south 60 feet of Lots are leased at far below market and
that lease will run for full length of extended terms until
October 15, 1990.
3. Assume that appreciation, risk specultation and inflation will amount
to -0- over the length of the term in terms of hard (today's) dollars.
4. Theory: Value is determined by: (a) present worth of the discount
income stream; (b) reversing value of the land at the end of the term.
5. An 8% discount rate is considered applicable for discounting a very
secure, low risk, investment. Since the subject rent is far below
economic rent, the probability of the lease going the full length
of the term is very good.
6. A 9% discount rate is considered applicable for discounting the
reversion of the land value at the end of the term. This is more
of a speculative investiment for the investor, however, since there
is almost no available commercial core land, the chances for
appreciation in value is given considerable weight.
Present worth of ONE payment per year for 12.50 years
Discounted at 8%
Ellwood factor: 7.7234
Present worth of the reversion of the property at the end of the terms,
Discounted at 9%
Ellwood factor: .34054
James 1 Mollica & Assoclale~ In~
Real Estate Appraisers and Consultants
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Value of Income Stream:
Rent:
8 parking spaces:
$3,360 at 7.7234
Value of Reversion:
Summary:
f"'..
$ l,200/yr
2,160/yr
$ 3,360/yr
= $25,950
$180,000 at .34054 = $61,297
TOTAL: $87,247
Fair Market Value if free and clear of Lease: $180,000
Value under Current Lease: $ 87,247
James 1 Mollica ~ ASSIltlale& I~
Real Estate Appraisers and ConsultantS
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Your appraiser has knowledge of an offer to purchase these lots at
$30.00 per square foot.
Sale /Il. Lot L of Block 80, City of Aspen sold April 1975 for $75,000.
There was an old Victorian residence which was later torn down. It was
purchased by the adjacent landowner for Restaurant expansion. This
sale breaks down to $25,00 per square foot.
Sale #8. Lots G, H, and I of Block 94 was also purchased in June of 1976.
It was vacant and part of Sale /11. It sold for $275,000, 9,000 square
feet which breaks down to $31.00 per square foot. It had a corner
location and is presently being developed with a commercial building.
Land Summary;
Sale Date Size Price/Square Foot
1 3/74 24,000 SF $18
2 2/74 6,000 SF 20
3 2/74 3,000 SF 20
4 6/75 9,000 SF 17
5 5/75 4,500 SF 20
6 6/76 6,000 SF 18
7 4/75 3,000 SF 25
8 6/76 9,000 SF 31
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Based on these sales and adjustments and considering the subject's
excellent location .near the pedestrian mall, it is your appraiser's
opinion that the subject's value falls slightly above the upper range
of value. The subject lots are not in a view plane and have excellent
exposure to the pedestrian mall and with the existence of the Mason &
Morse Building, the view will remain unobstructed.
$30.00 per square foot x 6,000 square feet = $180,000
Note: The valuation of $180,000 is contingent upon the property being
free. and clear of all lease agreements.
James 1 Mollica d Associates, In~
Real Estate Appraisers and Consultants
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VALUATION SECTION
Land Valuation:
Your appraiser has gathered and analyzed recent sales in the commercial
core area. These vacant land sales have been analyzed based upon their
location, shopping exposure, and zorting characteristics. The following
is a summary of the most recent sales of vacant sites in the commercial
area.
Sale #1. Lots G, H, I, 0, P, Q, R, and S in Block 94, City of Aspen,
sold March 20, 1974 for $425,000. This sale consists of a group of
vacant lots facing On Hopkins Avenue and Hyman Avenue, which are improved
with some older buildings which your appraiser considers to have no value
in this transaction. This sale contained $24,000 square feet or say,
$18.00 per square foot.
Sale #2. Lots K and L, in Block 96, City of Aspen, sold February 1974
for $120,000. These two lots were improved with an older swimming pool
and small building which had not been used for several years. The
improvements are considered to have no value in this transaction, and
they have been removed, and a commercial office building has been construc-
ted. This sale contained 6,000 square feet or say, $20.00 per square foot.
Sale 1/3,. Lot M, Block 96, City of Aspen, sold in April 1974, for
$60,000. This sale had part of a small building on it which contributed
no value in this transaction.. It contained 3,000 square feet, or say,
$20.00 per square foot. Lots K, L, & M have since been developed with
approximately 18,000 square feet of commercial building (Durant-Galena).
Sale #4. Lots E, F, and G, Block 82, City of Aspen, sold June 1975 for
$150,000. These lots are vacant and adjacent to Wagner Park. They
contained 9,000 square feet or say, $17.00 per square foot. This sale
was somewhat restricted due to view plane easement, directly across
from the subject. These lots have since been developed with approximately
14,000 square feet of commercial building (Mason & Morse Building).
Sale #5. Lot north one-half of A and Band C, Block 100, City of Aspen,
sold May 1975 for $90,000. These lots were vacant and had a corner
location. This sale contained 4,500 square feet and breaks down to
$20.00 per square foot. These lots had a slightly inferior zoning
classification and were later developed with a commercial building
(Victorian Square).
Sale #6. Lots D and E of Block 94, City of Aspen, sold June 1976 for
$110,000. There were two Victorian residences on the site. One had no
value and the other brick structure had historical designation and would
not be allowed to be removed or changed without City and Historical
Committee Approval. This sale breaks down to $18.00 per square foot.
James 1 Molllca.~ Assodate~ In~
Real Estate Appraisers and Consultants
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COLUMN ONE:
COLUMN TWO:
COLUMN THREE:
!:OLUMN FOUR:
COLUMN FIVE:
COLUMN SIX:
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DETERMINING PRIORITIES FOR
PUBLIC LAND ACQUISITIONS
Complete the first five column headings for
each land parcel before determing the priority
of each land parcel.
.
Provides approximate acreage and estimated
cost of each itemized land parcel.
Identifies various potential public uses and
benefits. Evaluate each sub-column according
to the following scores:
o - no public use or benefit
1 - minimum public use or benefit
2 - moderate public use or benefit
3 - high public use or benefit
Provides for a selection of when each land
parcel should be purchased based on when
the use or benefit will be realized.
_, Provides for a recol11Tlended type of pub 1 i c
acquisition. First and second choices should
be selected. Place a number one (1) in the
first choice and a two (2) in the second choice.
Identifies the particular political body re-
sponsible for the land purchase. Place a
check mark (v') under ei ther the City, County,
or Joint purchase column.
Do not complete the sixth column for any land
parcel until each of the previous five columns
has been completed for a 11 the_lanet pq,rcel~,_ ___ __._,___
--The'n place a check mark (v'Tander- the high, --
.m!!dium, ,or.~ow_ priority colu!l1l1 or_ea.ch land __,.____,
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MEMORANDUM
TO:
FROM:
RE:
DATE:
City Council and County CommiSsioners
Planning Office
Public land Acquisitions
March 16, 1976
The Planning Office has complied a list of potential properties
which could be purchased by the City, County or both bodies for
various public benefits. The purpose of the list is to provide
a mechanism to allow you, the decision-makers, to focus on the
range of possibilities for public land acquisitions.
The list is accompanied by an analysis chart which
help identify your priority for each land parcel.
vides:
is designed to
The chart pro.
An estimate of the acreage or square footage,
. A gross estimate of land value,
A range of potential public benefits and uses that can
be assigned to each parcel,
. Various types of acquisition techniques,
. The political jurisdiction responsible for acquisition,
and finally
. The priority rating.
The priority rating should be based on your analysis of each
parcel in the light of the various chart entries.
An instruction sheet of chart entries provides a method to give
weight and dimension to your analysis and acquisition priorities.
Pleas~ read this sheet before proceeding to the list and identifying
your priorities. Upon completion of and return of your recommended
priorities, the Planning Office will compile all of the charts to
identify the consensual priorities of City, County and joint public
land acquisitions.
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M E M 0 RAN DUM
TO: Board of County Commissioners
City Council Members
George Ochs, County Manager
Mick Mahoney, City Manager
FROM: Bill Kane, City/County Planning Director
RE: Establishment of Land Acquisition Program
DATE: June 6, 1977
BACKGROUND
Over recent years, numerous attempts have been made at the establishment of
an ongoing land/development rights acquisition program. Participation has
included staff of both city and county and members of the Pitkin County
Parks Association. Each attempt has been frustrated by a difficult dilemma
which has repeatedly plagued the land acquisition planning process. While
it is desireable to develop a specific schedule of land for acquisition,
it is not desireable to publish a list with a rigid ranking of priorities
because such an approach generally:
1.
Overlooks the need for flexibility in dealing with a variety of
land parcels, each of which must take into consideration the
individual needs and timetable of many landowners with highly
individualized financial situations (i.e., size and cost of parcel,
individual income situation and relative tax leverage offered to
each due to land donations as tax shelters).
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2. A list often is interpreted as a fixed statement of the program
and thereby runs the risk of alienating landowners not considered
on the list.
3. Lists also risk the chance of inflating land value due to the
published public interest in purchase. Sometimes this can result
in pricing a particular parcel beyond the means of the local govern-
ments i nvo 1 ved.
4. Published lists also risk offending individual landowners who have
no interest in developing land. Acquisition of land or development
rights assumes that individuals will develop land. (Of course,
this represents a rare exception but does happen).
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Memorandum
Page Two
Jaune 8, 1977
On the other hand, it is difficult to develop momentum for a program with
just a vague statement of good intentions with green spaces for everyone.
Any meaningful open space acquisition program will require substantial
funding commitments from both the city and county and the Council and
Commissioners will no doubt want certain specific parcels set as goals prior
to long range commitments.
The dilemma here is that a program that is overly specific or overly
vague will be self-defeating.
Over the past several months, Raymond Auger, Bruce Oliphant, Fritz Benedict
and Gus Hallam have been working with the Parks Association in an attempt
to develop a definitive program. A tentative list of of "candidate"
properties has been identified for open space/public use acquisitions.
This by no means represents a "final" or "exclusive" list. There are
probably another 15 which could be added. This list may be easily modified
or expanded at the initiative of Council, Commissioners or Parks Association.
last Friday we had a very productive meeting with representatives from the
Trust for Public land with numerous helpful suggestions having been made by
individuals with many years of experience in the area. As a result of this
meeting, we have a program outline that we would like to pre~ent.
PROGRA~l
The emphasis here is on the development and acceptance of a land acquisition
mechanism as opposed to a static "plan" approach. Most communities develop
open space with the adoption of a specific map with key properties identi-
fied in the form of priority ratings. The plan is essentially a map which
is reviewed by Planning and Zoning Commissions and adopted by the appropriate
legislative bodies. The actual details of funding and capital budgeting
are normally absent as is any plan for land acquisition mechanics. In
contrast to such a static program, we are recommending an approach which
emphasizes four separate functions with clear responsibilities delegated
for each function to include:
1. Funding and purchase approval
2. Cooordination
3. Selection recommendations and management
4. Negotiation (specific parcel agreements)
Memorandum
Page Three
June 8, 1977
~~" .
In conjunction with this function, we propose the maintenance of a gener-
alized on-going list of properties which are cOnsidered desireab1e for
acquisition. Please find attached a copy of the first 15 priorities as
selected and approved by the Pitkin County Parks Association.
PROCESS FOR ACQUISITION
Funding for the program would come from one of five principle sources to
include: (1) City, (2) County. (3) Federal grants. (4) Private donations.
(5) Contributions inkind (by the landowner, generally for tax shelter).
The on-going list of properties would be maintained by the Parks Association
with the endorsement of City and County P & l'S and the Council and Com-
missioners with recommendations from the planning office.
Once a property has been identified for open space/purchase/development
rights acquisition, the initial contact may be initiated by any individual
or group involved to include the landowner, member of City or County govern-
ment, Parks Association, Nature Conservancy or Trust for Public Land (T.P.L.).
Once an initial contact has been made. an independent third party individual
from either the Trust for Public Land or Nature Conservancy would sit down
.on a personal basis with each prospective donor or seller and work out the
particulars for each transaction. The real meat of the program will rely
on this negotiation. Both the T.P.L. and Nature Conservancy are highly
skilled in acquisition techniques to include a good working knowledge of
estate and real estate tax law as well as income tax law and ,how donations
may be merged with purchases to minimize in the capital gains tax liability
to each owner. Each acquisition would be carefully sensitized to the hiqhly
individualized needs of each owner taking into consideration each income.
estate,. and land value situation. The emphasis in the program would be on
non-capital acquisitions. but most cases will require some capital to pre-
serve the lands in question.
Once the specific details of a transaction have been hammered out. then all
sources of funding will be explored. The highest priority will be for
contact with private donation sources. We can not overemphasize the potential
of private sources at this time. We have been contacted by a variety of
individuals all of whom are interested in contributing substantiallY to a
long range on-going and comprehensive land acquisition prOCfram which respects
the needs of lheindividuals involved. Depending on the scale of the project
involved, some mix of public and private funds will be necessary.
As proposed here. the council and commissioners would sit in the position of
reviewing the final acquisition details for each parcel involving fee simple
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Memorandum
Page Four
June 8, 1977
conservation easement or. development rights acquisition. This would require
appropriations by ordinance and serve as a useful and necessary check and
balance on the system.
Both nature conservancy and T.P.L. are staffed with highly experienced
seasoned experts in land acquisition. Each organization is capable of drawing
on a legal staff capable of solving the most unique problems of tax law and
estates. They would also be extremely helpful in setting up an independent
trust to consist of the parks associati9nand city and county to serve as
trustees for parcels acquired. For parcels acquired in fee simple this
trust will also serve as a management agency.
This function proposes to acquire lands for the preservation of many values
to include visual importance, recreation, wildlife, continuation of agri-
cultural use and to . preempt undesireable development all of which will be
evaluated also on the basis of proximity to population centers. It does
not encompass all public needs for land. I~e propose that lands for public
buildings and employee housing be purchased directly and not be included
in this program.
CONCLUSION
The attached flow chart illustrates the acquisition funding, selection,
management and negotiation elements of the program:
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Memorandum
Page Fi ve
June 8, 1977
In order for this program to succeed, a commitll1ent of funds from both. City
and County will be necessary~ With the County's payment in lieu of taxes
and additional contributions from the County trails fund, and unused por-
tions of the City's 6th penny, great revenues exist and when merged with
the substantial amount of private money that could go to such a program the
potential exists to preserve the entrance to Aspen, the open space setting
between Aspen and Snowmass and certain big agricultural porperties in the
County.
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We recommend that certain specific actions be taken now.
SPECIFIC ACTIONS
1.
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Review and approve a list of candidate properties as proposed
by the Parks Association.
2. Set funding goals.
3. Invite participation by Nature Conservancy and T.P.L.
4. Budgeting for 1978 (line item status).
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PCPA LAND ACQUISITION COMMITTEE
Proposed Acquisition List
Northstar Ranch
Route 82, East of Aspen, 166 A"
Zoline
Opposite the Pomegranate Inn
Marolt
...
Adjacent to the Thomas Property
Opposite Cemetery Lane, with River
Frontage on Castle Creek
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Pabst
SnowmassjCapital Creek Ranch
Pfister
Buttermilk area (276 acres)
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Owl Creek (Mitchell)
Between Buttermilk and Snowmass
(1835 acres)
Aspen One
. Behind Courthouse, on River Front-
age (58,900 sq.ft.)
Vagneurs (a 11 )
Off Highway 82, towards Woody Creek
Randa 11
Hunter Creek 1,000 Foot Frontage
Little Clound (Stevens)
(Little Cloud) Base of shadow
Mountain (2 acres)
Base of Smuggler
(McCulloch and Hyman)
Behind Smuggler Trailer Court,
Adjacent to Silverking
Benedict
Gravel pit
Hernstadt
Between Brush Creek and Highway 82
J. Moore
Opposite City Golf Course
on Highway 82
Koch Lumber
First Street and Garmisch Avenue
Criteria on which the above were selected:
Visual impact
Streamfront greenbelt access
Wildlife support capability
Proximity to population centers
Continuation of agricultural use
Recreational use, active and passive
Preventundes irable development
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PROGRAM STATEMENT
LAND AND DEVELOPMENT RIGHTS ACQUISITION
In recognition of the importance of open space to Aspen as a
resort and as a community, the PCPA has established the Land Acquisition
Committee to work with the City and County governments to create a program
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for the acquisition of undeve1op~d/(and and development 'rights.
. A primary intent of the program is the fair compensation of landowners
for whatever
property rights are acquired.
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funds from various Federal and
State agencies, existing and
The financing systems to be used
will include
new City and County programs, and private donations and gifts from citizens
to the PCPA. Priorities for acquisition will compliment the interests of
individual landowners and the judgements of the PCPA with the cooperation
of the City-County Planning Office.
The intent of the program is to create a continuing effort for
open space acquisition instead of responding to acquisition opportunties
on a last-minute basis, as exemplified by the City's purchase of Rubey
Park and the Golf. Course. Hereafter, an orderly program for acquisitions
will be encouraged fo move forward at a deliberate pace through the careful
selection of desirable properties for acquisition and the choice of the hest
funding technique for each case. An effort will be made to solicit guidance
from the community in developing the program.
The Committee will analize the tax implications of the program
in terms of City and County income.
It will assist landowners to study the tax
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advantages which can ,result from the purchase of land or development rights
by public agencies, as well a~ the g~ft of such rights to a non-profit
organization such as Park Trust Ltd. To the extent that its funds permit,
the PCPA may directly acquire various property rights or purchase o~tions on
land which may be acquired later by governmental agencies, private conservation
groups or individuals who would like to make a gift of open space to the
people of Pitkin County and its visi!9rs. The PCPA may also commission
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appraisals, surveys, legal studies.~nd recreational development plans. The
PCPA would like to be contacted by anyone with skills in these fields who
mig).,t<:wish to contribute "\:ime to this program.
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The Committee will evaluate the cost to the community for providing
services for the development of a given area versus the cost of retaining it
as open space. In addiiton, each acquisition will be studied in terms of
its scenic .importance; potential or present recreational use; wildlife
habitat; water quality, water rights ,and watershed significance; agricultural
role; trail, road and housing implications; energy conservation and
generation implications and whatever other factors might'relate to a change of
use for a particular property.
The PCPA is of the opinion that this .program can make a major contribution
to the future social and economic health of the community. The PCPA is also
of the opinion that this program will assist in the control of development
and will do so in a manner which has the greatest potential for broad support I
from the community. Anyone with information, opinions, services or funds
which. may be used to assist this program is encouraged .to communicate with
the Committee Chairman, Raymond N. Auger ,at 925 '1698. or Aspen Box 2841
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