HomeMy WebLinkAboutordinance.council.053-77RECORD OF PROCEEDINGS
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ORDINANCE NO. 53
(Series of 1977)
AN ORDINANCE AMENDING CHAPTER 20 OF THE MUNICIPAL
CODE OF THE CITY OF ASPEN BY THE ADDITION OF A
NEW SECTION 20-22 WHICH SECTION IMPOSES THE
FOLLOWING REQUIREMENTS WHEN APPLICATION IS MADE
FOR SUBDIVISION OF A TRACT OF LAND TO BE USED
FOR CONDOMINIUMS: (1) EXISTING TENANTS MUST BE
GIVEN 90-DAY EXCLUSIVE NON-ASSIGNABLE RIGHT
OF FIRST REFUSAL TO PURCHASE THEIR UNITS; (2) ALL
UNITS MUST BE RESTRICTED TO SIX (6) MONTH MINIMUM
LEASES; AND (3) THE APPLICANT MUST DEMONSTRATE
THAT APPROVAL WILL NOT REDUCE THE SUPPLY OF LOW
AND MODERATE INCOME HOUSING
WHEREAS, the City Council wishes to amend Chapter 20 of
the Aspen Municipal Code by the addition of Section 20-22, and
WHEREAS, the City Council desires to add said section for
the benefit of the City of Aspen,
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF ASPEN, COLORADO:
Section 1
?hat Chapter 20 of the %spen Municipal Code is hereby
amended by the addition of Section 20-22 wkich reads as follows:
Sec. 20-22 Condominiumization
~n addition to all other requirements imposed in this
Chapter, when application is made for subdivision of a
tract of land to be used for condominiums, the applicant
must comply with the following requirements:
(a) Existing tenants shall be given written notice
when their unit is offered for sale, which notice
shall specify the sale price. Lach tenant shall
non-assignable
have a 90-day/option to purchase their unit at
this preliminary market value. In addition,
each tenant shall have a 90-day exclusive non-
assignable right of first refusal to purchase
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(b)
(c)
their unit which shall comraence when a bona fide
offer is made by a third person, and accepted by
the owner. Zn the event that such offer is made
while the 90-day option is still in effect, the
tenant may purchase the unit for the amount of
the initial sales price or the amount of the
bona fide offer, whichever is less.
All units shall be restricted to six (6) month
minimum leases with no more than two (2) shorter
tenancies per year, and
The applicant shall demonstrate that approval
will not reduce the supply of low and moderate
income housing. Such demonstration shall be made
at the time of initial consideration by P&Z.
Evidence relating to the following criteria
shall be considered in making this determination:
(1) Evidence that illustrates there will be
minimal tenant displacement as a result
of the conversion.
(2) Evidence that the condominium units will
be affordable by persons of moderate income.
(3) Evidence that tenants who do not wish to
exercise their option or right of first
refusal are provided at least 180 days
after final council approval or when their
unit is sold to a third person, whichever
date is later, in which to locate other
housing.
(4) Evidence that the prospective purchaser
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is an employer or a group of employers
who intends to rent the unit(s) to its
employees.
Section 2
If any provision of this ordinance or the
to any person or circumstance is held invalid,
application thereof
such invalidity
shall not affect other provisions or applications of the ordinance
which can be given effect without the invalid provision or appli-
cation, and to this end the provisions of this ordinance are
declared to be severable.
Section 3
A public hearing on the ordinance shall be held on
. ~ /~.. , 1977, at 1:00 P.:l. in the
City Council Chambers, Aspen City }{all, Aspen, Colorado.
iNTRODUCED, READ AND ORDERED published as provided by law
by the City Council of the City of Aspen, Colorado, at its
regular meeting held at the City of Aspen on the ~___ day of
Stacy Syandley 116 /
Mayor / ~/~c
ATTEST:
Kathryn ~ Hauter
City Clerk
FINALLY adopted, passed and approved on the /~-~ay of
Stacy S~andley III /
ut~r ~ -3-