PINE CANYON PD ZONING REGULATIONS

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Review Notes: Green highlight = blanks to be completed before recording. 1. DEFINITIONS For purposes of the PD Plan and these Zoning Regulations: (1) capitalized terms used but not defined in the PD Plan or theses Zoning Regulations but defined in the Castle rock Municipal Code, as amended (the Code ) shall have the meanings ascribed to them in the Code, (2) if capitalized terms are used in the PD Plan or these Zoning Regulations that are defined in the Code and either the PD Plan or theses Zoning Regulations, then the definitions contained in the PD Plan or these Zoning Regulations, as appropriate, shall control, and (3) capitalized terms defined in the PD Plan or these Zoning Regulations but not defined in the Code shall have the meanings ascribed to them in the PD Plan or the Zoning Regulations, as appropriate. Accessory Unit means a one-bedroom Dwelling Unit that: (1) contains no more than 1,500 square feet of interior floor area, (2) is located on the same lot as a principal Dwelling Unit that is a single-family detached dwelling, (3) contains both kitchen and bathroom facilities as part such one-bedroom Dwelling Unit that are separate and distinct from the Kitchen and bathroom facilities intended to serve the principal Dwelling Unit to which such on-bedroom Dwelling Unit is accessory, and (4) is located on a lot the Site Development Plan of which expressly states that an Accessory Unit may be located on such lot. An Accessory Unit may be held out for lease or rent, but may not be conveyed separately from the Principal dwelling to which it is accessory. For purposes of this definition of Accessory Units, the term interior floor area means the interior finished floor area on any story contained within the perimeter walls, windows and doors, as measured to the interior surface of such walls, windows and doors, but does not include upper level openings for stairs or other features, balconies or garages. Character Zone means any of the designations C1, C2, C3, C4, C5, C6 and SCZ-A, which are assigned to various portions of the Property pursuant to the terms of these Zoning Regulations, and which establish permitted uses, allowable densities and other development standards and regulations for those portions of the Property assigned thereto. Code means Town of Castle Rock Municipal Code. Development Agreement means the Pine Canyon Development between the Town and the Owners, dated and Recorded on at Reception No.. Director means the Town s Director of Development Services. Dwelling Unit means a building or portion thereof within the Property intended to be used predominantly for residential occupancy, including single-family, two-family, multi-family dwelling units, Accessory Units and the portion of a Live-Work Unit intended to be used predominantly for residential occupancy, but not including mobile homes, hotels, motels, hospitals, dormitories, assisted living facilities, nursing homes, or motor homes. Page 1

Excluded Parcel means: (1) land assigned to character Zone C1 and (2) any land offered for dedication to the Town for purposes of constructing and operating a school, or other civic facility (including without limitation, a fire station, police station, Town administrative offices or water treatment facility) thereon. Plat means a plat, including all amendments thereto, approved by the Town and Recorded. Lead Owner means JRW Family Limited Partnership, a Colorado limited liability limited partnership, and its successors and assigns, but only to the extent: (1) such successors and assigns are so designated by the then-lead Owner by separate written instrument that specifically and expressly designates such successor or assign by reference to the PD Documents and this definition of Lead Owner, and (2) such instrument is executed on behalf of the then-lead Owner and Recorded. Official Records means the official real property records of the Clerk and Recorder for Douglas County, Colorado. POST Plan means the Parks, Open Space and Trails Plan contained within the PD Plan. Owner means each of (1) JRW Family Limited Partnership, a Colorado limited liability limited partnership, (2) James R. Walker, (3) Michelle A. Walker, (4) Kurt J. Walker,(5) Brittany M. Walker, and (6) Lisa A. Walker to the extent of their respective interests in the Property, together with their respective successors and assigned with respect to such interests. PD Documents means the PD Plan, these Zoning Regulations and the Development Agreement. PD Plan means The Pine Canyon Planned Development Plan No. 1 recorded at reception no.. Planning Areas means the 21 planning areas depicted generally on the PD Plan as O1 through O13, PLD-1, and D1 through D7, the boundaries of which may be adjusted as set forth in Section 7. Property means the parcels of land described in Appendix A of these zoning regulations. Record, Recorded or Recording means record, recorded or recording, as appropriate, in the Official Records. Retail Restriction Zone means the retail restriction zone the boundaries of which are depicted generally on the PD Plan. SCZ-A means special Character Zone SCZ-A, the boundaries of which are depicted generally on the PD Plan. Page 2

Thoroughfare means a street, roadway, passage, drive, lane or similar area intended primarily for vehicular traffic. Town means the Town of Castle Rock, Colorado. Trails means those trails the alignments of which are depicted generally on the PD Plan. Trail Standards means those standards set forth in Exhibit Aas well as the standards described in the Town of Castle Rock Sustainable Trail Development Guide. Unallocated Density means Dwelling Unit density permitted within the Property pursuant to PD Documents that is not yet constructed. Zoning Regulations has the meaning given to that term in these Pine Canyon PD Zoning Regulations and the regulations found in Town of Castle Rock Municipal Code Title 17. 2. GENERAL PROVISIONS A. Applicability. The Pine Canyon PD Plan, as amended (the PD Plan ) and The Pine Canyon Zoning Regulations (the Zoning Regulations ) shall run with the land and bind owners or record and successors in interest to the property. B. Relationship to Town Regulations. All Town ordinances and regulations, as the same are amended from time to time, shall apply to and be enforceable in a PD. Accordingly, the Town ordinances and regulations shall govern and control over any conflicting provisions in these Zoning Regulations unless such conflicting provision is vested as an express development right under the Development Agreement, any subsequent development agreement with the Town, or otherwise. C. Overall Project Standards. The standard zoning requirements of the Town zoning ordinance, including off-street parking, landscaping, site development, accessory and temporary uses, and use by special review and variance processes, shall apply to those areas within the Property. The PD Zoning Regulations shall not preclude the application of Town ordinances, including revisions to Title 17 of the Code, which are of general application throughout the Town, unless such application would conflict with an express vested property right in the Development Agreement, any subsequent development agreement with the Town, or otherwise. D. Illustrations in Tables. The metrics and text set forth in Tables 1 through 10 are an integral part of these Zoning Regulations. However, the diagrams and illustrations that accompany such Tables are provided for information purposes only and are not regulatory, with the exception of the diagrams and illustrations set forth in Tables 4 through 10 regarding building heights, minimum lot width, maximum building coverage, setbacks and covered parking placement, which are binding. To the extent of any conflict between any text (including a metric contained in text) and a diagram or illustration (including a metric shown on a diagram or illustration), the text shall control. Page 3

E. References. Unless otherwise specified, any reference in these Zoning Regulations to a Section or Table shall mean a section of, or table within, these Zoning Regulations. F. Lead Owner. Notwithstanding any other provision in the PD Documents, the rights of Lead Owner expressly set forth in the PD Documents shall not run with the land, but shall be held personally by Lead Owner (and its successors and assigns consistent with the conditions set forth in the definition of Lead Owner in Section 1). 3. MAXIMUM LEVEL OF DEVELOPMENT Subject to the provisions of the PD Documents, each of: (A) the maximum number of Dwelling Units permitted within each Planning Area, (B) the gross acreage within each Planning Area, (C) the percent of total gross acreage within each Planning Area, and (D) the maximum non-residential square footage or FAR permitted within each Planning Area is set forth in Table 1 below. [The remainder of this page is intentionally left blank. The Zoning Regulations continue on the following page.] Page 4

Planning Area Maximum Number of Dwelling Units 1 Table 1 Gross Acreage 2 Percent of Total Gross Acreage 3 OS-1 0 64.2 12.01% OS-2 0 1.1 0.21% OS-3 0 4.6 0.86% OS-4 0 2.8 0.52% OS-5 0 0.3 0.06% OS-6 0 3.3 0.62% OS-7 0 13.4 2.51% OS-8 0 18.9 3.54% OS-9 0 2.4 0.45% OS-10 0 1.2 0.22% OS-11 0 0.3 0.06% OS-12 0 1.4 0.26% OS-13 0 0.5 0.09% PLD-1 0 54.6 10.21% D1 45 35.1 6.57% D2 470 149.5 27.96% D3 330 46.0 8.60% D4 235 5.0 0.94% D5 300 21.4 4.00% D6 175 41.8 7.82% D7 0 47.5 8.89% Maximum Nonresidential square footage or FAR 4 See footnote 4 School Site 0 Included in PLD-1 -- Major Roadways 0 19.3 3.60% Total 1555 534.6 100.0% 1 The maximum number of Dwelling Units set forth in Table 1 may be adjusted pursuant to Section 8 (regarding density transfers). 2 The gross acreage within any Planning Area set forth in Table 1 may be adjusted pursuant to Section 7 (regarding changes in Planning Area boundaries). 3 The percent of total gross acreage within any Planning Area set forth in Table 1 may be adjusted pursuant to Section 7 (regarding changes in Planning Area boundaries.). 4 The maximum amount of non-residential square footage or FAR permitted within each Planning Area shall be determined by the uses permitted within each Planning Area, physical constraints and the parking requirements set forth in these Zoning Regulations. Page 5

4. CHARACTER ZONES A. Assignment of Character Zones. (i) (ii) Site Development Plan or Plat. Within each Site Development Plan or Plat containing any portion of the Property, the Owner Recording such Site Development Plan or Plat shall assign a Character Zone to each portion of the Property included within such Site Development Plan or Plat, subject to the conditions of this Section 4. Percentage Parameters. (a) Character Zones C2 through C6 shall be permitted only within certain Planning Areas as set forth in Table 2 below. Assignments for Character Zones C2 through C6 shall not be inconsistent with the percentage parameters set forth therefor on Table 2 below. Such percentage parameters shall be applied to the entirety of any given Planning Area (except Excluded Parcels), not with respect to a Plat that includes only a portion of such Planning Area; provided, however, Character Zones within any Plat may not be assigned such that it is impossible for the percentage parameters for the relevant Planning Area to be Maintained once the entirety of such Planning Area is included within Plats. (b) Character Zone C1 shall be permitted within any of Planning Areas D1 through D7, in any amount. (c) For purposes of calculating the percentage parameters within Table 2 below, the Percentage in respect of any Character Zone within any Planning Area shall mean the product of: (i) 100% multiplied by (ii) a fraction, the numerator of which is the total number of acres within such Character Zone other than Excluded Parcels that are assigned to such Character Zone, and the denominator of which is the total number of acres within such Planning Area other than Excluded Parcels. (iii) Amendments to Character Zone Assignments. (a) Character Zone assignments shall be deemed amended if set forth on a Recorded amendment to a Plat or Site Development Plan, on the condition that: (1) the Owner of the property whose Character Zone assignment is amended signs the amended document, (2) such reassigned Character Zones designations comply with this Section 4 and (3) each sketch, Site Development Plan and plat application submitted to the Town in respect thereof, the Recorded Site Development Plan, or Plat amendment therefor, and the Character Zone reassignments thereon, are each expressly approved by Lead Owner by signing the relevant documents. Page 6

(b) Notwithstanding Section 4(A)(iii)(a), if improvements have been constructed on any portion of the Property, the Character Zone assignment for such portion of the Property may not be amended if doing so would result in such improvements not conforming to the development standards set forth in Tables 4 through 10. B. Maximum Gross Residential Density. (i) (ii) The residential density within any of Character Zones C2 through C6 as measured within a single Planning Area (e.g., D1) shall not exceed the amount set forth therefor on Table 2 below. The maximum Gross Residential Density within any Character Zone set forth a Site Development Plan or Plat shall not exceed the amount set forth therefor on Table 2 below. [The remainder of this page is intentionally left blank. The Zoning Regulations continue on the following page.] Page 7

Table 2 Planning Area Acreage 1 D1 35.1 D2 149.5 D3 46.0 D4 5.0 D5 21.4 D6 41.8 D7 47.5 Permitted Character Zones and Percentages 2 C2 20-80% C3 20-80% C2 0-50% C3 20-80% C4 20-80% C5 0-40% C2 0-50% C3 20-60% C4 20-60% C5 0-40% C6 0-40% C3 25-90% C6 10-75% C5 40-85% C6 15-60% C4 0-50% C5 20-60% C6 20-60% C5 40-85% C6 15-60% Maximum Residential Gross Density (du/ac) 3 1.3 4.5 1.3 4.5 7.5 15.0 1.5 5.0 12.0 18.0 28.0 5.0 28.0 24.0 35.0 8.0 24.0 35.0 N/A N/A Maximum Number of Dwelling Units 4 45 470 330 235 5 300 175 0 1 The gross acreage within any Planning Area set forth in Table 2 may be adjusted pursuant to Section 7 (regarding changes in Planning Area boundaries). 2 The Character Zones permitted within Planning Areas D1 through D7 and the interpretation of the permitted percentage parameters for Character Zones set forth in Table 2 are each subject to the provisions of Section 4. 3 Residential Gross Density, with respect to any Character Zone, means the amount equal to a fraction, the numerator of which is the total number of Dwelling Units within such Character Zone, and the denominator of which is the total number of acres, including without limitation thoroughfares, parks and open space, within such Character Zone. 4 The maximum number of Dwelling Units permitted within any of Planning Areas D1 through D7 set forth in Table 2 may be adjusted pursuant to Section 8 (regarding density transfers). 5 Hotel rooms or Single Family Dwelling Units. Page 8

5. PERMITTED USES. Principal uses permitted by right, accessory uses permitted by right, principal uses permitted by special review, and accessory uses permitted by special review for each Character Zone, and for O-1 Planning Areas (OS-1 through OS-13 and PLD-1) are set forth on Table 3. In addition to those accessory uses set forth in Table 3, additional uses, buildings and structures that are accessory to a principal uses shall be permitted on the same lot as the principal use to which they are accessory. [The remainder of this page is intentionally left blank. The Zoning Regulations continue on the following page.] Page 9

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6. DEVELOPMENT STANDARDS. A. Trails. All Trails designated as Major Trails on the POST Plan shall be eight feet wide, with a concrete surface or other surface acceptable to Owner and the Director, and otherwise shall conform to the requirements for Type I trails as set forth in the Trail Standards. All Trails designated as Minor Trails on the POST Plan shall be between two and four feet wide, with a native surface, and otherwise conform to the requirements for Type II trails set forth in the Trail Standard. B. Road Standards and Off-Street Parking. Alternate road standards have been provided in Appendix B of these regulations. C. Other. The minimum lot area, minimum lot width, maximum building coverage, maximum building heights, setbacks, standards regarding covered parking placement, and certain other development standards for each Character Zone and for Planning Areas O1 through O13 and PLD-1 are set forth on Tables 4 through 10. The standards set forth in Tables 4 through 10 shall superseded and replace standards in the Code addressing the issues of minimum lot size, minimum lot width, maximum building coverage, maximum building heights, setbacks, minimum front, side and rear yard sizes, covered parking placement and such other development standards as are set forth in such tables. [The remainder of this page is intentionally left blank. The Zoning Regulations continue on the following page.] Page 15

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7. BOUNDARIES. The PD Plan is intended to depict the general location of Planning Areas, special Character Zone SCZ-A, the Retail Restriction Zone, and certain Thoroughfares. The boundaries and shape of such areas may be altered as provided herein. A. Planning Areas D1 through D7. The PD Plan is intended to depict the general locations of Planning Areas D1 through D7. The exact boundaries and shape of any portion of such Planning Areas shall be as determined at the time such portion is set forth on any Site Development Plan (SDP), and shall not require any amendment to the PD Documents (notwithstanding any provisions in the Code), on the condition that no planning area is increased or decreased by greater than 10%. B. Planning Areas O1 through O13. (i) Boundaries. The exact boundaries and shape of any portion of Planning Areas O1 through O13 identified generally on the PD Plan shall be determined (subject to approval of the Town at the time such portion is included on any SDP or dedicated as required by the POST Plan and may vary from the general depiction thereof shown on the PD Plan, and shall not require any amendment to the PD Documents (notwithstanding any provisions in the Code), on the condition that the aggregate acreage of Planning Areas O1 through O13 to be so dedicated upon occurrence of the events requiring all such dedications pursuant to the POST Plan, shall not be less than the aggregate acreage of all such Planning Areas as set forth on the POST Plan (inclusive of Thoroughfares that fall within or cross such Planning Areas) and any difference between the boundaries or shape of such areas proposed to be dedicated versus the boundaries of such areas depicted generally on the PD Plan satisfies the town criteria. C. Planning Area PLD-1. (i) Boundaries of PLD-1. The exact boundaries and shape of any portion of Planning Area PLD-1 shall be determined by Owner at the time such portion is dedicated and may vary from the general depiction thereof shown on the PD Plan, and shall not require any amendment to the PD Documents (notwithstanding any provisions in the Code), on the condition that: (a) that the aggregate acreage of Planning Area PLD-1 to be so dedicated upon occurrence of the events requiring all such dedications pursuant to the POST Plan shall not be less than the aggregate acreage of such Planning Area set forth on the POST Plan (inclusive of Thoroughfares that fall within or cross such Planning Area) and (b) the Director concurs that public accessibility to such dedicated portion is not materially impacted as compared to the public accessibility to such areas as depicted generally on the PD Plan. D. Special Character Zone SCZ-A. The exact boundaries and shape of any portion of special Character Zone SCZ-A shall be determined at the time such portion is set forth on Page 23

any SDP or Plat thereof and may vary from the general depiction thereof shown on the PD Plan, and shall not require any amendment to the PD Documents (notwithstanding any provisions in the Code), provided, however, the minimum SCZ-A width shall be 250 feet from the Property boundary. E. Retail Restriction Zone. The exact boundaries and shape of any portion of the Retail Restriction Zone shall be determined by Owner at the time such area is set forth on any SDP thereof and may vary from the general depiction thereof shown on the PD Plan, and shall not require any amendment to the PD Documents (notwithstanding any provisions in the Code), provided, however, the minimum Retail Restriction Zone width shall be 400 feet from the southern boundary of the Property. F. Thoroughfares. Alignments for the Thoroughfares are depicted generally on the PD Plan. The exact alignment of any Thoroughfare shall be determined at the time of Plat thereof and may vary from the depictions set forth on the PD Plan and shall not require any amendment of the PD Documents (notwithstanding any provisions in the Code), on the condition that: (i) such alignments conform to, and are provided at such times as are required by, all applicable Town standards (as modified by the PD Documents), and (ii) the overall connectivity and functionality of such Thoroughfares as depicted on the PD Plan are maintained. G. Trails. 8. DENSITY. (i) Alignments. The alignments of the Trails are depicted generally on the PD Plan. Final alignments for each segment of the Trails and the boundaries of easements therefor shall be established at the time of construction of such Trail segment and may vary form the depiction thereof shown on the PD Plan, and shall not require any amendment to the PD Documents (notwithstanding provision in the Code) on the condition that (a) such trails are within appropriate easements or fee interests dedicated to the Town, and (b) such trails provide trail connectivity within the property that is not materially decreased from that generally depicted on the POST plan, (c) connectivity between the Trails within the Property and trails outside the Property is not materially decreased from that depicted generally on the POST Plan, and (d) with respect to Minor Trails as identified on generally on the POST Plan, such alignment minimizes ground disturbance during clearing to the extent reasonably practicable. A. Permitted Transfers. So long as the maximum number of Dwelling Units within the entire Property does not exceed the maximum number of Dwelling Units permitted within the Property as set forth on Table 2, the overall density and the total number of Dwelling Units permitted within any individual Planning Area (excluding SCZ-A) may be increased by the transfer of Dwelling Units from one Planning Area to another Planning Area. Density may be transferred out of SCZ-A but density may not be transferred into SCZ-A. Notwithstanding any provision herein, density may not be transferred from: (i) any portion of the Property to the extent of the density Page 24

reflected in any site improvement plan approved by the Town (that has not expired or been vacated), (ii) any portion of the Property to the extent of the density reflected in a Plat approved by the Town and Recorded (that has not expired or been vacated). B. Tracking. To ensure maximum Dwelling Unit density is not exceeded, applicants for any Plat creating residential lots or any SDP proposing any Dwelling Units within any given Planning Area must submit to the Town, with such application, a summary of the Dwelling Unit density built within such Planning Area, the Dwelling Unit density permitted within such Planning Area taking into account density transfers pursuant to this Section 8. 9. PHASING. No restrictions are imposed with regard to project phasing other than as expressly set forth in the PD Documents. 10. TABLES INCORPORATED. Tables 1 through 10 are hereby incorporated into and made a part of these Zoning Regulations. 11. SITE DEVELOPMENT PLANS AND PLATS. Following approval of the Planned Development Plan, the property owner shall submit a Site Development Plan (SDP) for all or any portion or portions of the general use areas as are then ready for development. No building permit will be issued until a SDP has been approved for the property by the Town Council and the Plat approved by Town administrators, duly recorded, unless the property is a Town-owned property being developed for Town uses. 12. WILDLAND FIRE MITIGATION. The natural topography and existing vegetation of the development site and adjacent open space suggests that the design of the homes and the neighborhoods incorporate methods to limit the potential for the spread of wildland fires into the community. National Fire Protection Association measures approved by the Town of Castle Rock Fire Department shall be incorporated into the Site Development Plan. 13. TRANSITIONAL USES. Agricultural Uses: 1. Agricultural activities, and all accessory structures and uses which are customarily incidental or appropriate to farming and ranching shall be permitted within the Pine Canyon PD prior to, but not during, the phased development of the total project. The following agricultural uses are prohibited: Commercial poultry or pig farms, feed lot/confinement center, fur farms, and kennels. 2. Areas of agricultural activities shall be closed to vehicular traffic and off road recreational motor biking excepting agricultural vehicles and implements, emergency vehicles, vehicles engaged in utility and other maintenance work, and designees of the master developer or the Town. Page 25

Exhibit A to Pine Canyon Zoning Regulations Trail Standards See attached standard trail details issued by The Town of Castle Rock, Development Services, March 31, 2010 consisting of 4 pages. Refer to: Sustainable Trail Development A Guide to Designing and Constructing Nativesurface Trails, Prepared By: Richard Havel, Trails Planner for Town of Castle Rock, Parks & Recreation Department, May 2009. Retrieved December 5, 2013, from http://www.crgov.com/documentcenter/view/1430 Page 26

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PINE CANYON PD ZONING REGULATIONS Appendix A to Pine Canyon Zoning Regulations Legal Description Page 31

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PINE CANYON PD ZONING REGULATIONS Appendix B to Pine Canyon Zoning Regulations Alternate Road Standards Woodlands Boulevard Through Pine Canyon: To encourage development and reduce the potential for speeding through the property we are proposing an alternative road section for Woodlands Boulevard through Pine Canyon. This road section will include the potential for parking which may encourage development, the walks are intended to be wider and accommodate pedestrian traffic as well. Page 34