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HomeMy WebLinkAboutlanduse case.AG.Smuggler Trailer Park.47AG.47AG.1980 .; -" ~~.. - .,r,..~.:.:,......... ""_. 10, 1981 , lJ:JA~ .:51hi.J9'1/ey t'.'.",62Q ""''' '- .,-..., Recorded at> ~:52 P.M., June Reception #~ -' ,~ Loretta Banner, Recorder OOOK 409 SETTLEMENT AGREEMENT THIS SETTLEMENT AGREEMENT made this o?~ i day ef ~ ' 1980, by and ameng the Aspen Mountain Park Partnership, a Colorado General Partnership ("AMP"'), the City ef Aspen ("City") and the Smuggler Trailer Park Homeowners Asseciatien ("Association"). WHEREAS, AMP is the owner ef the Aspen Meuntain Park ("the Park") fermerly the Smuggler Trailer Park, a, mebile home park consisting of appreximately 87 mebile home sites, situate within the City ef Aspen upen the real preperty me,re particularly described in Exhibit "A" hereto (hereinafter semetimes the "real property"); and, WHEREAS, the Association is an asseciati'on ef the residents, er ewners, er beth of the Park; and, WHEREAS, altheugh not restricted in terms of rental and resale price centrels by deed, cevenant, legislation, er etherwise, the Park historically has supplied a significant portien ef the employee housing inventory of the City; and, WHEREAS, AMP purchased the Park fer inveistment purpeses wi th a view teward developing the entire real prop,erty intO' a first class mobile home rental park; and, WHEREAS, en Octeber 9, 1979, AMP issued ,to tenants a netice of a substantial rent increase fer mebile home spaces within the Park; and, WHEREAS, in respense to such rental increase, the City threatened and began the preliminary institutien of eminent domain preceedings; and, WHEREAS, in active negetiatiens, the City and AMP have pursued the resolution ef en-going disputes concerning the Park in relatien to' (a) the monthly rents charged by AMP per mobile heme space,(b) the installatien ef capital imprevements in the Park and (c) the preservatien ef the Park as a seurce of housing for local empleyees by means of cendemnation, rent centrol legislation, or the like; and, . '. ,-." ,A; ooo~ 409 iMt 629 WHEREAS, AMP and the City finally entered into the Agreement in Principle attached hereto as Exhibit "B" with a view toward resolving the disputes above-described pursuant to which, inter alia, the City was to purchase the Park from AMP for resale to the owners of the mobile homes; and, WHEREAS, neither the City nor the owners of mobile homes within the Park were able to consummate the purchase of the Park pursuant to the Agreement in Principle, due to financial limitations; and, WHEREAS, due to a combination of the constant threat of condemnation, resident unrest caused by potential displacement, and inadequacy of rents due to controls directly imposed by the City, AMP has agreed to divert from its original intent to develop the entire real property as a first class mobile home rental park and has decided instead to liquidate its investment in the entire real property; and, WHEREAS, in an effort to arrive at a mutually satisfactory settlement of the disputes above-described, AMP has expended considerable sums for legal,surveying, architectural, and project consultation fees at the behest of the City once it became evident that neither the City nor the Association financially were capable of consummating the Agreement in Principle above-described; and, WHEREAS, the City and AMP have agreed that the real property may best be liquidated and employee housing units preserve by providing for different arrangements in connection with differe portions of the real property; and, WHEREAS, in order to remove the cloud of threatened condemnation to protect the City from the possible loss of a significant source of housing for local employees, and to protect the investments of Association members in their mobile homes from escalating rents beyond their control, the parties are mutually desirous of settling the dispute above-described -2- " " ., " 1'""\ ~ M"" .09 "\" 630 WUT\ "t \J r,;.~IBt in the manner hereinbelow set forth, without resort, or further threatened resort, to formal legal proceedings, including eminent domain proceedings. NOW THEREFORE, in consideration of the foregoing premises, the making and performance of the mutual obligations and convenants herein contained, and other good and valuable consideration, the receipt, sufficiency and adequacy of which hereby are acknowledged, IT IS AGREED THAT: 1. IMPROVEMENTS TO PARK. AMP shall, as soon hereafter as reasonably may be practical, undertake to relocate below grade certain electrical wiring within the Park, relocate and upgrade the water and sewer distribution system due to any relocation of existing mobile homes as hereinafter provided; provide for the installation of additional fire hydrants at such locations as the City may request; and relocate and resurface the roadway system within the Park in order to accomodate any relocation of existing mobile homes and turning radii sufficient for emergency and support vehicles. 2. SALE OF MOBILE HOME SPACES. The present owners of mobile homes within the Park shall have the right, collectively or following the sale or exchange of the Park as hereinafter provided, to purchase the mobile home spaces for a purchase price equivalent to $25,000.00 per space. This offer shall remain open for a period of time coterminous with the time required for all parties to employ their best efforts to complete financing arrangements for the purchase, but in no event later than Qt,4ohtl" --1-., 198'. AMP and the City will employ their best efforts to arrange financing for all owners who elect to purchase their spaces and the Association agrees fully to cooperate with AMP and the City in this regard in terms of compiling such information as prospective lenders may require, and the like. AMP will, if necessary, provide carryback financing for up to 25% of the owners who elect to purchase their space but who are unable to qualify -3- .' '. !""'\ ~ '''''''n.o j09 'C\ ^t 631 '2l\!'Uf\ "t: ., l'!~'t!'l;.. -' for conventional outside financing. The $25,000.00 purchase price above-provided shall, at the election of the members of the Association involved in the purchase, be deemed a mean per space price; provided, however, that the Association members shall be required among themselves to apportion the purchase price as shall yield, upon closing, a sum equal to $25,000.00 times the number of spaces involved in the transaction. In the event that the actual cost of improvements described in paragraph one (1) hereinabove is less than the product of $2,500.00 times the number of spaces involved in, the sale transaction, the difference shall by AMP be set aside for the benefit of the Association for such further improvements to the Park as the Association deems necessary or advisable. 3. STRUCTURE OF SALE. Closing of the purchase and sale of the mobile home spaces shall be conditioned upon receipt of the governmental approvals necessary for the developments hereinafter provided and will occur at a mutually agreed upon date as soon hereafter as reasonably may be practical given (a) the efforts above-described to arrange financing and (b) the time required to obtain the governmental approvals for such developments. In order sooner to liquidate its investment hereunder, AMP shall have the right to sell to or exchange with a third party the entire real property or any portion thereof. Such third party shall be entitled to all the rights granted hereunder and shall be bound by all terms of this Agreement. Upon the closing of any such sale or exchange, such third party shall in writing assume any and all obligations hereunder. Notwithstanding such sale or exchange, AMP shall be entitled to reserve unto itself the rights to develop as set forth in paragraphs 5 and 7 hereinbelow. 4. RENTAL AND RESALE PRICE CONTROLS. From and afterth Closing above-provided, all spaces within the Park, including the mobile homes thereupon situate, shall be appropriately restricted in terms of rental and resale price controls in the manner presently generally applied throughout the City and in which the City at the time determines to be in the community's better -4- ,~ ~ ~ :el)lJ~409r\Ct 632 interest: to the end that then and thereafter the entire Park shall be and remain controlled employee housing within the meaning of existing legislation concerning housing of that character, and as such generally applicable legislation may from time to time be amended. Any mobile home spaces that are not sold to the owners of mobile homes and, hence, become owned by AMP shall continue either to be rented or later sold by AMP at a monthly rental or for a sales price, as the case may be, which shall be consistent with their controlled character. Furthermore, the owners of mobile homes who do not elect to purchase their lots shall not be entitled to sublet all or any portion of their mobile homes except under such terms as are consistent with the controlled character of this housing. 5. EXPANSION OF PARK. The Park will be expanded in size principally in the rear acreage to accomodate 26 additional mobile homes. Expansion and the relocation of any existing mobile homes in connection therewith will be done at the expense of AMP in the manner least in the circumstances intrusive upon existing mobile homes and in accordance with a plan prepared pursuant to Specially Planned Area criteria of the City Code. These mobile homes and the spaces they occupy within the Park will be offered for sale, unfurnished, at a purchase price not to exceed $70,000.00, and appropriately restricted in the manner set forth in paragraph 4, hereinabove. 6. RELOCATION OF EXISTING SINGLE FAMILY HOME. The existing victorian style single-story frame house presently situate in the front portion of the Park shall be relocated and either :tesubdivided elsewhere within the real.property or, at AMP' discretion, relocated outside the Park. 7. FREE MARKET DEVELOPMENT. AMP shall by the City be given the right to develop 19 free market units on property, as yet undetermined, either within the City or, if outside, capable of being annexed. This development right shall be transferable and assignable. Development shall proceed in accordance with existing zoning affecting the property or, in the case of annexed -5- ,.. . ~ ,It r-. I'""'. !JQ\)),,409 r~~t 633 property, with Specially Planned Area criteria. The City agrees (a) tQ enact such enabling legislation or amendments to existing legislation, including to its Growth Management. quota system legislation, as would accommodate and permit the foregoing development right in exchange for the conversion to employee housing of the Park and the addition of 26 new employee housing units, all as set forth above; and (b) on the application of AMP, to annex any property that may hereafter be acquired by AMP for the purposes of the free market development above-described, provided that such property otherwise is eligible for annexation as eligibility is determined under Section 31-12-104, C.R.S., 1973. 8. RETAINED PARCEL. AMP shall retain ownership of the quadrilateral shaped piece of property consisting of ~ ~ acres and situate at thenortheasternmost section of the property described in Exhibit "A" hereto. 9. FURTHER DOCUMENTS, COOPERATION, GOVERNMENTAL APPROVALS, DISCLOSURE. The parties agree fully to cooperate with each other to the end that the terms, conditions and provisions hereof shall be fully implemented and effectual and to execute such further documetns consistent herewith as may, in the circumstances, be necessary. The parties recognize that in order to effectuate this Settlement Agreement further public proceedings and applications may be necessary. AMP agrees to process any such further applications as may reasonably be necessary and the Association agrees to support such applications that are consistent' with this Settlement Agreement. The City, including its staff and elected officials, agrees, to the maximum extent permissible, consistent with statutory and other legal obligations, to take such steps and grant such approvals as are consistent herewith and as may be necessary. The parties agree that this Settlement Agreement and any other understanding shall be fully and publicly disclosed. -6- "';.'~"~~ '.~~".!i v'l. .:, 'j"' :;7.....>~~,,';;..'.,;'!i 1- . i j -I I I ! I I i , i event it determines reasonabl:( - ~(:! ~r:-:l L~1' !j " Ii 'f " n !; j! " ~roK409 p~,tt63;1 i; i' 10. The parties COVENANT AGAINST SUIT FOE Dfu~AGES. Ii agree and acknowledge that no action at law for damages shall be II maintainable against the City in the " !i it and in good faith that enabling legislation to effectuate this 1: Ii Agreement may not be passed; provided, however, that the City :1 , i ii acknowledges, agrees and intends that, in reliance upon this :1 II ,: Agreement, AMP (al shall immediately undertake to perform its I! if Ii !I II I , i ! obligations hereunder, including installation of park improvementsi arrangements .for financial assistance in connection \vith the. sale' of the Park, and sale of the Park all as above provided and (b) may enter into binding contracts for the purchase of property for purposes of free market unit development, all to the end that principles of vested rights and equitable estoppel, as contrasted , I from monetary damages, shall apply to protect such reliance II activities of AMp notwithstanding the inability of the City to II pass such, enabling legislation; and, provided further that in Ii ,I Ii the event this Agreement shall become the subject of litigation 1: Ii I' commenced by other than the parties hereto AMP shall defend, Ii .1: indemnify and hold the City harmless from and against any and p ii all costs associated with such litigation.. , H il Ii Ii ii " ! ~ P ,! I: :1 , r: ;: H !. ii " " ii I! " ,. r: .' " ;i ,. " Ii d " II '\ . d " i: -6a- , ". .- -~'''''''7;'~1 t' l-', 1'"'\ roOK 409 'p\tE635 IN WITNESS WHEREOF the parties have executed this instrument the day and year first above written. rs:*t.. qlefk , ::: /' ~ . . ~ A '., ~..~ ....' ~-; ...,....h .\...... ~;,.hi.l"J \" -;'." "';0\' ", "IN",'''l,l\I''', ATTEST: CITY OF ASPEN ~ By)j .' 'H<:.rl,,~n'JEElSl..,z, !lB.Y9~/lJ "'T /I J"nIC.PV'l'.t!- deh"'e:~ r ASPEN MOUNTAIN PARK PARTNERSHIP ~ By, SMUGGLER TRAILER PARK HOMEWONERS ASSOCIATION -7-