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HomeMy WebLinkAbout20081008sawmill AGENDA ITEM SUMMARY MEETING DATE: October 8, 2008 AGENDA ITEM TITLE: An Ordinance Authorizing Purchase of the Sawmill Hill Pazcels STAFF RESPONSIBLE: Dale Will SUMMARY OF ISSUE: Should the County enter into contracts for the conservation of approximately 266 acres on Sawmill Hill, comprised of seven pazcels held by three different owners, above Redstone. BACKGROUND: The backdrop of the Redstone Inn and Castle is some 266 acres of private lands that were once part of John Osgood's estate. In the eazly nineties, this land was divided into seven pazcels ranging from 36-40 acres each. See map. Sawmill Hill also holds extraordinary scenic, recreational, and habitat values of great importance to the County. The property hosts the tallest continuous ice climb in the County, known as the Redstone Pillar. The hill is replete with majestic ponderosa pines and lazge aspens, and is traversed by a trail that begins neaz the Inn and offers superlative views of the Chair Mountain, the Crystal River, and Hells Gate as it climbs to the USFS lands above. The seven parcels aze presently held by three landowners, who have all expressed a desire to conserve their lands. Under our agreements, the County would acquire outright pazcels 2, a portion of 3, and 4-7 while placing the balance (parcel 1 and the remainder of 3) under a conservation easement that would eliminate residential development and allow public access for ice climbers to reach the Redstone Pillar, and for construction of a bike trail along the parcel 3 frontage with Highway 133. The land in question has been the subject of potential development for some time. Under agreements negotiated by the Open Space Board in consultation with the Community Development Department, the present owners will convey the interests described above provided they each receive one TDR per parcel, for a total of seven TDRs, and, in addition, a cash payment of $1,750,000. Assuming a TDR value of $300k ea., this total compensation is somewhat less than the fair market value of the property as determined by a recent appraisal. Independent of the Sawmill negotiation, the County has approved the Ryan Land Exchange, which, if approved by the voters this November, will conserve several properties while generating $2,050,000 from the resale and redevelopment of the Means Cabin site, aka the Wildwood Parcel. The Sawmill owners have agreed that, if the Ryan exchange is successful, 1 the County may elect to consummate the agreements with one fewer TDR, and payment of $2,050,000. The purchase of Sawmill Hill is explicitly addressed in Pitkin County Ballot Question lc. LINK TO STRATEGIC PLAN: This acquisition meets the County's goal to preserve recreational resources, and scenery directly adjacent to Redstone. KEY DISCUSSION ITEMS (ALTERNATIVES): The alternative to this action would be not to conserve Sawmill Hill, which would most likely lead to development there and loss of public access. BUDGETARY IMPACT: If the Ryan exchange is successful, all of the funds expected ($2,050,000) will be reinvested in Sawmill Hill, along with six TDRs. If the Ryan exchange is not successful, $1,750,000 will be appropriated from the Open Space Fund and paid along with seven TDRs. RECOMMENDED BOCC ACTION: Approve the Ordinance Authorizing the Sawmill Hill Contracts. 2 Sawmill Hill Parcels Sawmill Conservation Easement ~ Q, SawmiYl H~II Fee,Parcels " ,y, Highway 133 ! ^ ~ i ,F~ ~ ~ Conserved'lands TDR severed - * ~ Federal (:ands r~.. 0 1 000 2,000 Feet'. : ~ Redstone` t m V fib, ~ I ~~i~ d' 1~4 s 3 AN ORDINANCE OF THE BOARD OF COUNTY COMMISSIONERS OF PITKIN COUNTY, COLORADO, AUTHORIZING PURCHASE OF THE SAWMILL HILL PARCELS ORDINANCE SERIES OF 2008 RECITALS 1. The Voters of Pitkin County and the Pitkin County Commissioners established an Open Space and Trails Fund for the purposes of preserving and providing open space and trails resources in Pitkin County, and established an Open Space and Trails Board of Trustees to guide the expenditure of those funds. 2. The Open Space and Trails Program is chazged with protecting public access to waterways, scenic view planes, and habitat. 3. The seven parcels comprising approximately 266 acres on Sawmill Hill are owned by three different parties who have all agreed to convey open space interests to Pitkin County; the County would acquire outright pazcels 2, a portion of 3 including the East Creek drainage azea above the Redstone Inn, and 4-7 while placing the balance (pazcel 1 and the remainder of 3) under a conservation easement that would eliminate residential development and allow public access for ice climbers and for a potential bike trail along Highway 133. 4. Sawmill Hill is contiguous to the Redstone Castle, the grounds of which were conserved in a conservation easement conveyed by the Internal Revenue Service. 5. Sawmill Hill is contiguous with the West Elk Loop Scenic and Historic Byway. 6. The Open Space and Trails Board passed a unanimous motion recommending this acquisition to the Board of County Commissioners on August 12, 2008. NOW THEREFORE BE IT ORDAINED by the Boazd of County Commissioners of Pitkin County, Colorado, that: 1. The Boazd approves an expenditure of up to $2,050,000 for the Property, and further authorizes the Open Space Department to expend up to $10,000 on related transaction costs. 4 2. Upon approval of the form by the Open Space Director and County Attorney, the Chair is authorized to execute contracts for purchase of the Property, the County would acquire outright parcels 2, a portion of 3 including the East Creek drainage area above the Redstone Inn, and 4-7 while placing the balance (parcel 1 and the remainder of 3) under a conservation easement that would eliminate residential development and allow public access for ice climbers and for a potential bike trail along Highway 133. Said contracts may contain a contingency that the County also duly approve the issuance of one TDR per each of the seven parcels, provided however that if the Ryan Exchange is successful and the full $2,050,000 realized therefrom is expended on Sawmill Hill, only six TDRs will be issued. The Chair is further authorized to execute other documents as may be necessary to finalize this transaction. 3. The Board of County Commissioners hereby declares its official intent to reimburse current expenditures from a future issuance of Pitkin County general obligation bonds. The current expenditures to be reimbursed include the purchase price and other acquisition costs for the Sawmill Hill Property, and the maximum amount of bonds expected to be issued for this project is $2,060,000. 4. That adjustments be made to the year 2008 budget as follows, expenditure of said funds to be contingent on alternative funding from the Ryan Land Exchange not being available: OPEN SPACE AND TRAILS FUND Previous Revised Budeet This Change Proi Bud¢et Sawmill Hill Property Acquisition Acquisition costs for the Sawmill Hill Property may be reimbursed from a future issuance of county general obligation bonds: Bond proceeds (revenue) $ 0 $ 2,060,000 $ 2,060,000 Sawmill property expenditure 0 2,060,000 2,060,000 INTRODUCED, FIRST READ, AND APPROVED ON THE 8th DAY OF OCTOBER, 2008. NOTICE OF PUBLIC HEARING PUBLISHED IN THE ASPEN TIMES WEEKLY ON THE DAY OF 2008. APPROVED UPON SECOND READING AND PUBLIC HEARING ON THE 22ND DAY OF OCTOBER 2008. 5 PUBLISHED AFTER ADOPTION IN THE WEEKEND EDITION OF THE ASPEN TIMES ON THE 10th DAY OF SEPTEMBER THIS ORDINANCE BECOMES EFFECTIVE ON , 2008. ATTEST: BOARD OF COUNTY COMMISSIONERS OF PITKIN COUNTY, COLORADO Jeanette Jones Jack Hatfield Deputy Clerk Chairman Date: APPROVED AS TO FORM: John Ely Hilary Fletcher County Attorney County Manager Dale Will, Director Open Space and Trails Program 6