Town of Basalt, Colorado Ordinance No. 17 Series of 2013

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Ordinance No. 17 Series of 2013 AN ORDINANCE OF THE TOWN COUNCIL OF THE TOWN OF BASALT, COLORADO, GRANTING A PUD AMENDMENT AND SITE SPECIFIC DEVELOPMENT PLAN APPROVAL FOR THE ROARING FORK APARTMENTS ON LOTS D-G, BASALT COMMERCIAL PARK SUBDIVISION/PUD, BASALT, COLORADO RECITALS A. The Town of Basalt ( Town ), acting by and through its Town Council ( Town Council ), has the power to grant approval of a PUD amendment site specific development plan to permit the construction of a multi-family residential building on Lots D-G, of the Basalt Commercial Park. RealAmerica Development LLC. ( Applicants ) on behalf of the landowner Snow River Lodge Inc. submitted an application for a PUD amendment and site specific development plan in August of 2013. Said application is for property more particularly described in Exhibit A attached hereto. B. At duly-noticed public hearings held on September 3, 2013, and September 17, 2013, the Planning and Zoning Commission considered the Application. At the public hearings, the Planning and Zoning Commission heard evidence and testimony as offered by the Town Staff, the Applicants, and members of the public. The Planning and Zoning Commission recommended approval of the Application with conditions. C. At a duly-noticed public hearing on October 8, 2013, the Town Council approved this Ordinance on first reading, continued and scheduled a public hearing and second reading for this Ordinance for October 22, 2013, for a meeting beginning no earlier than 6:00 pm at the Basalt Town Hall, 101 Midland Avenue, Basalt, Colorado. D. At a public hearing and second reading on October 22, 2013, the Town Council heard evidence and testimony as offered by the Town Staff, the Applicants, and members of the public. E. The Town Council finds and determines it is in the best interests of the Town to approve this Ordinance. Further, the Town Council finds and determines this Ordinance is reasonably necessary to promote the legitimate public purposes of the public health, safety and welfare. Please return to: TOWN OF BASALT 101 Midland Avenue Basalt, CO 81621

Page 2 NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF BASALT, COLORADO AS FOLLOWS: A. FINDINGS. The Town Council hereby incorporates by reference and conclusively makes the following findings: 1. Based on the evidence, testimony, exhibits, and comments from the public, Applicants and Town Staff, the Basalt Town Council finds and determines as follows in accordance with Town Code Article IV, Chapter 16 for the purpose of a PUD Amendment, Section 16-28 and Chapter 16 for the purposes of a Site Specific Development approval: 2. The application conforms to the provisions of Article 16 of the Town Code provided that the conditions contained in this ordinance are satisfied. 3. The development will not have an adverse environmental impact, such as excessively increasing traffic hazards or congestion, overloading utilities or otherwise being detrimental to the general welfare of the community. 4. The development will complement and be integrated with the existing and approved but not yet existing development in the area. 5. The development will provide numerous community benefits. 6. Based on the evidence, testimony, exhibits, and comments from the public, Applicants, Town Staff, and the Town P&Z, the Town Council finds and determines that the proposed development is generally consistent with the 2007 Basalt Master Plan, subject to compliance with the conditions contained herein. B. APPROVAL AND CONDITIONS OF APPROVAL. The Town Council hereby approves the Roaring Fork Apartments PUD amendment and site specific development plan to construct a 56-unit apartment building on the property described as Lots D-G, Basalt Commercial Park, subject to the following conditions: Representations: 1. The Applicants shall comply with all representations set forth in the Application. 2. The Applicants shall comply with all material representations made in hearings before the Planning and Zoning Commission and Town Council.

Page 3 Community Benefits and Project Enhancements: 3. The Applicants shall satisfy the Community Housing requirements for this project as proposed, by deed restricting the units as follows: Category 1 Rental Units- 13 One-bedroom units and 2 Two-bedroom units Category 2 Rental Units- 20 One-bedroom units and 3 Two-bedroom units Category 3 Rental Units- 13 One-bedroom units and 5 Two-bedroom units The Special Housing Evaluation Committee as established in the Community Housing Guidelines may make minor adjustments to the Community Housing mix of categories. The Town Council may make adjustments to the mix of categories by ordinance in the event that the Applicants appeal the Special Housing Evaluation Committee s decision on a proposed adjustment to the categories or the Special Housing Evaluation Committee determines that it is not a minor change. 4. In the event that the Town amends the Town Code and accompanying guidelines in the future to establish an affordable housing credit system by which developments can sell off affordable housing credits to other development projects, this development will be eligible to sell off credits as permitted by those amendments. 5. The Applicants shall agree to be in a special district to help fund river and flood prevention improvements. While the district is not established at the present time, the concept would be that all development contribute to some extent to the funding of needed river improvements. This type of project would be assessed at a lesser extent than properties proposing development in the floodplain or adjacent to the river which benefit to a much greater extent by the improvements. Consideration will be given by the Town to reducing or waiving potential assessments on projects that include 100% affordable housing in establishing a future special district. 6. At the time of building permit, the development shall comply with the green building representations made in the Applicants Final Plan Application, which includes compliance with the more restrictive of: a) The 2012 International Green Construction Code (with the local amendments that are pending and the exceptions requested in the 9/3/13 Application Addendum). The Applicants shall also provide at

Page 4 least 2% of the total energy used in the project through renewable forms of energy. The TRC may waive the renewable energy requirement after consultation with the Town s Building Official if compliance with the requirement is determined to be an unreasonable burden; or, b) The Town s applicable green building requirements at the time of building permit issuance. 7. The Applicants shall attain a minimum Sound Transmission Class (STC) rating of 50. Site Plan, Design, and Development Program: 8. The dimensional requirements for the project shall be as follows: Dimensional Requirement Min. Lot Area Overall Gross Square Footage Building Height for Community Housing on Lots D-G, of the Basalt Commercial Park PUD Proposed 45 Feet as Measured by the Building Height Methodology in the Town Code # of Stories for Community Housing Development on Lots D- G, of the Basalt Commercial Park PUD Front Yard Setback Rear Yard Setback Side Yard Setback FAR Maximum Lot Coverage 4

Page 5 Parking Minimum of 116 Parking Spaces as Shown on the Parking Map included in the Roaring Fork Apartments PUD Amendment Application dated 7/9/13 (including 20 parking spaces to be constructed by the Applicants adjacent to Lot H) 9. The Project is approved as a 100% deed-restricted affordable housing development. The use of deed-restricted community housing is permitted on the first floor of Lots D-G, of the Basalt Commercial Park. The Applicants shall prepare and record an amendment to the Basalt Commercial Park PUD Control Document establishing that deed restricted community housing shall be permitted on the first floor of Lots D-G and establishing a 45-foot height limit on Lots D-G for the development of deed-restricted community housing as an alternative use to the hotel. 10. The Applicants shall enforce a maximum occupancy requirement of two (2) people per 1-bedroom unit and four (4) people per 2-bedroom unit, except in temporary situations approved by the building management and the Town of Basalt. Additionally, the units shall comply with the requirements of Town code Section 16-203, Renting of rooms. Engineering, Technical, and Site Plan Issues: 11.The Applicants shall address the Town s Consulting Engineer, SGM Inc. and the Town Public Works Director s Comments 1-3 in the letter provided by Chris Lehrman dated 9/9/13. These comments shall be addressed to the satisfaction of the Town Planner prior to recording a final site plan document. 12.The Applicants shall address the Basalt Sanitation District s comments in the letters provided by Denise Diers dated 8/14/13 and 6/8/10. These comments shall be addressed to the satisfaction of the Basalt Sanitation District prior to the issuance of a building permit. 13.The Applicants shall submit a request to CDOT to construct a primitive trail from the south side of Emma Road to the RFTA downvalley bus stop as shown on the landscaping plan included in the Roaring Fork Apartments PUD Amendment Application dated 7/9/13. The Applicants shall install the trail prior to the issuance of the first

Page 6 certificate of occupancy on the Roaring Fork Apartments. The Applicants shall also submit a plan for bicycle storage for review and approval by the Town Planner prior to recording a Final PUD Site Plan. 14.The Applicants shall make the turning radius improvements on the west side of Emma Road between River Park Center and the Basalt Store Property as designed by Sopris Engineering on their Fire Truck Access Mitigation Plan dated 9/24/07. This improvement shall be made prior to the issuance of the first certificate of occupancy on the Roaring Fork Apartments Project. Additionally, the Applicants shall work with the owners of River Park Center and the Basalt Store to prepare a delivery plan designed to ensure that delivery vehicles are not blocking the access to the subdivision. The delivery plan shall be submitted for review and approval by the Town Planner and the Fire District prior to the issuance of the first certificate of occupancy on the Roaring Fork Apartments. Parking and Signage: 15.There shall be no assigned parking spaces, except for handicap spaces. The Applicants shall sign the 12 parking spaces on the south side of Emma Road across from River Park Center as No Overnight parking. The Applicants shall also sign the 20 parking spaces that the Applicants are going to install on the north side of Emma Road adjacent to Lot H of the Basalt Commercial Park Subdivision for No Overnight parking. The Town shall retain the authority to sign, modify, add, or eliminate parking or loading areas designated within the roadway regardless of the provisions of this condition. Additionally, the Property Manager shall provide parking stickers to the residents when they enter into a lease so that the Town can track the parking situation. 16. Staff and the Applicants desire for the Applicants to construct more than the 116 parking spaces identified in Condition No. 8 if feasible. The Applicants shall study the potential for providing more than the 116 parking spaces identified in Condition No. 8 and submit a final parking plan for review and approval by the Town Planner prior to recording the Final PUD Site Plan. Parkland Dedication: 17.The Applicants shall pay cash-in-lieu of dedicating parkland in an amount to be calculated by the Town Planner using the Town s policy in place for affordable housing at the time of building permit issuance, unless reduced or waived by a future action of the Town Council. Additionally, the Applicants may reduce or do in-kind improvements to

Page 7 parks and open space in the area as approved by the Town Planner to satisfy the parkland requirements. In the event that the Applicants propose in-kind improvements to parks and open space, the Town Planner will keep an accounting of the monetary value of the in-kind improvements. Landscaping and Irrigation: 18.The Applicants shall install landscaping per the landscaping plan prepared by Linden Group Architects dated 7/23/07. All landscaping shall be installed prior to the issuance of the first certificate of occupancy on the Roaring Fork Apartments. The Town Planner may issue extensions on the required timing for installation of landscaping due to weather. The Applicants shall contact the Town Horticulturist to inspect and approve of the landscaping specimens to be planted prior to their installation. 19.The Applicants shall submit a detailed irrigation plan for review and approval by the Town Planner after consultation with the Town Horticulturist prior to the installation of the irrigation. Fees and Surcharges: 20.The Applicants shall pay all applicable School Land Dedication fees for affordable housing as calculated by the Town Planner unless recommended for waiver or reduction by the Roaring Fork School District. The Applicants shall obtain a letter from the School District recommending such a waiver by the time of building permit issuance if the school land dedication fees are to be waived. 21.The Applicants shall be required to pay the following fees and assessments as part of building permit submittal as required by the Town Code: a. All building permit fees including the Special Improvements Fee, pursuant to Section 18-14 of the Town Code, as amended, unless reduced or waived by a future action of the Town Council; b. All applicable water service surcharge fees, including the Southside Water Tank Surcharge, in effect pursuant to the Town Code at the time of any connection to the Town water system; c. All outstanding land use review fees, including reimbursement

Page 8 for the costs of Ehlers in conducting the financial review as part of the application; d. Any application and filing fees for future requests and submittals per the then applicable Town fee schedule and any new fees that may be required by the Town Code in Chapter 16, Zoning, or Chapter 17, Subdivision, as amended, after the vested rights period established herein. Also, any other fees or charges then - required pursuant to the Basalt Municipal Code for all applicants for building permits shall be paid unless reduced or waived by a future action of the Town Council. Phasing and Final Approval Documents: 22.The Applicants shall enter into a Subdivision Improvement Agreement (SIA) with the Town within 180 days of the effective date of the Final Plan ordinance adopting the terms and conditions of the development and providing security for the common public improvements associated with the development. The Applicants shall also record with the Pitkin County Clerk and Recorder s Office within 180 days of the effective date of the Final Plan ordinance, a Final PUD Site Plan, an Amended PUD Control Document, and Deed Restrictions on the Community Housing Units. All of the Final Approval Documents listed above shall be reviewed by the Town Planner and Town Attorney for approval of form and content prior to recording. The Town Planner may extend the date by which the documents need to be recorded if the Applicants demonstrate that they are making progress towards finalizing the documents. 23.The Applicants shall provide financial security to replace the money being held in escrow from the current property owner, in a form acceptable to the Town Attorney, and in an amount equal to the financial security that is currently being held in escrow for the hotel development. The Town may draw on the financial security posted for the public improvements to install any incomplete public improvements or restore the site to an acceptable condition if at any time after the commencement of construction activities, the Town Engineer determines that the project or a portion of the project has been abandoned. Abandonment for the purpose of administering this condition shall mean that the Applicants have started improvements, but have stopped all construction activities on the site for a period of more than six (6) months.

Page 9 Vested Rights: No more frequently than once every quarter, Applicants shall be entitled to partial releases or reductions of the Performance Guaranty as portions of the Improvements are completed and approved. In order to obtain a partial release or reduction of the Performance Guaranty, Applicants shall submit a Certificate of Partial Completion signed by an engineer licensed in the State of Colorado or other appropriate professional acceptable to the Town describing the portion of the Improvements completed, and the cost allocation associated with such completed improvements. 24. Vested property rights shall be granted for a period of three (3) years from the effective date of the ordinance approving the final development approvals, provided that the Applicants record the necessary documents established in Condition No. 22 within the 180 day recording period or as it may be amended. If the Applicants fail to record the approval documents in the recording period the site specific development plan approvals shall become void but the PUD zoning shall remain. Additionally, the current vested rights on the approved hotel development granted pursuant to Ordinance No. 6, Series of 2012 shall remain effective until they expire. 25. No changes are proposed to the existing Environmentally Sensitive Area (ESA) approvals for the site. Amendments: 26. The Town Planner may review and approve of minor amendments to the approval documents necessary to effectuate the intent of the final development approvals. The Applicants shall have the ability to appeal a Town Planner decision on a minor amendment to the Town Council at a public meeting in which (15) days written notice of the public meeting has been provided to the appellants. C. The approvals and conditions contained herein shall be binding on and inure to the benefit of the heirs, successors and assigns of the Applicants and the owners of the Property. D. This Ordinance, after fully executed, shall be recorded in the office of the Pitkin County Clerk and Recorder. E. The effective date of this ordinance shall be fourteen days after the final publication of the ordinance.

Page 10 F. If any part, section, subsection, sentence, clause or phrase of this Ordinance is for any reason held to be invalid, such decision shall not affect the validity of the remaining portions of this Ordinance and the Town Council hereby declares it would have passed this Ordinance and each part, section, subsection, sentence, clause or phrase thereof regardless of the fact that any one or more parts, sections, subsections, sentences, clauses or phrases be declared invalid. READ ON FIRST READING, ORDERED PUBLISHED AND SET FOR PUBLIC HEARING TO BE HELD ON October 22, 2013 by a vote of 6 to 0 on October 8, 2013. READ ON SECOND READING AND ADOPTED, by a vote of 6 to 1 on October 22, 2013. TOWN OF BASALT, COLORADO By: Jacque R. Whitsitt, Mayor ATTEST: Pamela K. Schilling, Town Clerk Ord17_RoaringForkApartments Bill to: 10-24-480 First Publication: Thursday, October 17, 2013 Final Publication: Thursday, October 31, 2013 Effective Date: Thursday, November 14, 2013

Exhibit A Legal Description Lots D-G, Basalt Commercial Park Subdivision/PUD as shown on the Plat recorded at Reception No. 536536 in the Pitkin County Records.