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RESOLUTION OF THE BOARD OF COUNTI COMh1I55T�7ER�� �
- OF PITKIi� COUNTY, COLORADO, AUTHORIZING�4'!1E �
, RELEASE OF THE PARK CIRCLE CONDOMIr]IUt�IS
FROM TfiE DECLARATI027S OF RIGFIT OF FIRST REFUSAL �'
�� Resolution 64- 123 �� ;
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RECITALS '
,;,;'}� 1. The Board of County Commissioners is in receipt of
';�~z P.esolation No. 84-6 of the Housing Authority of the CiCy of Aspen
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.,� and Pitkin County, recommending to the Board the adoption of a
,"_� resolution to release the Park Circle Condominiums from khe
'� �-'� Declarations of Right of First Refusal, under certain conditians
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•; s specified therein. �i
b' �� 2. The Board agrees with the findings and recommenda-
,.] tions of the Housing Authority contained in Resolution 84-6.
4� � 3. This action is being taken due to the unique situa-
�```'`� tion that exists with respect to the Park Circle Condominiums.
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)� It is not intended to reflect a change in the Board's policies �''�
d`',?� �
� °,� towards employee housing and is not intended to set a precedent.
_ 4� The release authorized by this Resolution is to be conditioned
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_ `? upon measures, specified below, to ensure en£orcement of covenants
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v�ti -� designed to make these units available to employees.
� �,.,� NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
_ �
.;:`.r"� COMMISSIONERS OF PITKIPI COUNTY, COLORAAO, that it hereby author-
r ; -� izes the release of the Park Circle Condominiums from the Decla- �
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� = '� rations of Right of First Refusa2 currently in effect. This
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r - � release is subject to the following conditions: �.
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1. As specified in the Subdivision Zmprovements Agree-
'y ment, no unit in the Park Circle Condominiums shall be leased for
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;;;,: ; a period of less than six (6) months. This limitation must be �
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' -' reflected in each and every instrument by which title to any of
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_. ; said units is conveyed. �rt`
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2. Owners of units who desire to effectuate the release
of their units from the Declarations of Right of First Refusal
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^_;;� shall be reguired to execute a "restrictive covenant," which
�lt � shall run to the benefit of the other owners of the Park Circle
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�'"`'��`-,� Condominiums and also for the benefit of the Board of County
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-_:� Commissioners of Pitkin County, and which shall be enforceable by
- � Pitkin County. The restrictive covenant shall restrict the units }
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'�""� -:� a ainst leasin for a
_� g g period of less than six (6) months, during
� � the period of the life of the last surviving member of the present
- `._ � Board of County Commissioners of Pitkin County, Colorado, plus
�''� twenty-one (21) years. The restrictive covenant shall specify
-� that it is enforceable by appropriate legal action to nallify a .�1
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� ?.� non-conforming convey�nce, or to allow the County to seek injunc-
� �.:� tions and evictions for non-complying tenancies.
�r : ti ;,�APPROVED THIS Z�� DAY OF ��ER , 1984.
� '.:� � }• ..... . i
��•`; BOARD OF COUNTY COp1MISSIONERS
;s:�=-'"; ;.,ATT T . OF PITKIN COUidTY, COLORADO
.
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'' 1��a ' By:,���� ,,��
Lew••&canlan t4ich�el Kinsley, Chair�4n
:"; Dep�rt� :Clerk & Recorder / r..
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�.�,_;:`:,:`:� APPROVED AS TO FORDi:
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�- � =�� Thomas Fenton Smi h
•� ;b County Attorney
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� RCSOLUTIOI•I OF THE HOUSIIIG AU't'IIOF.TTY
OP THE CITY OF F.SPrIJ Pd1D PITItIl] COUtITY
j RECOI•it•iEP'DItdG � THE II011P.D OF COUtITY COi:IdISSIOIIEP•.S
` 1 THE ADOPTIOI] OF A RESOLUTIOI]
TO RELEASE TfiE PARIC CIP.CLE COnD0IiI1dIIJISS
FROII Tf1E DCCLhE;ATIOT?S OF RIGL'T OF FIP.ST REFUSAL
" .' Resolution �4-6 t '
4 I'
3 i'IIIEF,EAS� the Housing Authority of the City of Aspen and �`:;�`.
r..�. h:u:t.
- Pitkin Cour,ty, Colorado is responsible for the policies �nd '�.
-:". ` procedures for the development, enforcement and sdninistration o= `.•
r�;:.., �
;�;;;t,;�: deed restricted employee housing; and
�r� - T:TIiEPE1�S, the Flousing Authority of the Cit-y of Aspen ano
br '� Pitkin County recognizes that the Park Circle Condominiuns are
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;.� � only minimally cieed restricted for employee housing; and
'r,�_•i� j•Ih�REAS, the only nechanisns thought to be available to the
�'s.
`� ' County at the tine of approval of the Parl: Circle Conaominiums were
�r':.,�� the esteblishment o£ restrictions against short-term leasing and
- r .
-`j a Right of First Refusal for tl�e County; an3
5".-`-':' t7HER�AS, the Right of First Refusal, if exercised would
�
force the County into a net loss on resale, since the purchase "
.;al
_ ,, v � price will always be higher than the sellinq price; and �"
� �
�9HEFEAS, the County has regularly refuseu to exercise its
� :� ;
� P.ight of First Refusal on these condor�iniums, and is unlikely
�r�:� � to exercise it in the future; anu
R� -.� t•:HEREAS, the Right oi First Refusal e:;ists in several
"�� dii•ferent versions, and is often confusing and poorly unuerstood; �
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r="==� _ and i
r.:'
.�.,-_� T7HEREAS, the Subdivision Improvements Agreement prohibits -
� these units from being leased for a period of less thzn six (6)
�`"'' months; and
,'Y:��,�:��� . .
ri;=�.'� S•IHEREAS, the afotementioneo restriction is the only realistic -_
�
way to limit the occupancy of the Park Circle Condoniniur�s i' '
a``�
�;,? to employees, unless the County purchases the units an8 places j
i�';` '
�n�, them under their current P[•IIi guidelines (at a potential loss); and � `
s'
�` h'HEREAS, the Declarations of Right of First F.efusal have a
��;
�^G? negative inout on the matl;etability of these units; and .
�.;
�;..;
�;; S7HEF.EAS, the Elousing Authority of the City of F,spen and
�.'.:' E�
Xs:�;� �_
���;:f; Pitkin County finds that the Declarations of Right of First
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aQON 4C7O PAGE9�3 ��??4'�:� .
Refnsal with the Park Circle Con�7oniniur�s i� not uniform, anci is `.,`;'
� + inequitable; �nd
,
17IIEP.EAS, the Housing Authority of the City of Aspen and
Pitkin County recognizes the need for a release of the Declaration
� .
af Right of First Refusat for the Park Cizcle Condoniniuns.
}
° NOi�, TE.EP.EFORE, �E IT ��SOLVi3D by the Flousing Aut:�ority of �
�:
�,.,� the City of 1SSpen and Pitl:in County�thaL: '
�F<'' 1. It does hereby recomnend to the Board of County Comr.iis- ;�rz::,".
Y:-
a
;� sioners that they do not ezercise their Right of First Refusa2 at �.
-' a potential 2ollar loss in ordez to pl�ce the units under the Ph,H
T�
.z;>� '
,;,.} guidelines. ,
:`f���� 2. Tt further cecommends to the Boatd o£ County Connis-
.:n.Y
'�'::;�'i . siorters thet as expeditiously as possible a Resolution be 8eveloped
'{ to release the Declarations of Right of First Refusal in eifect
��'` foc the Park Circle Condominiums.
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3. It further recommends that the Board of County Couunmis-
'.,.� sioners reaffirm the covenant that "no unit shall be leased for a
��•:' , period of Zess than six (6) months" and that this limitation must
;;<<:
'; `� be re£lected in each and every instrunent by which title to said
� : unit is conveyed. � '
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� 4. ' It further recomnends that the Board of County Commis- �
� ' :
� sioners establish said covenant shall be deemed to run �ith the
� `, '� �-
a
I: � land as a burden thereto for the benefit of and shall b,e specifi-
:;�;'` cally enforceable by Pitkin County or its 6esignee by any appro-
f.,�_1
' � '� priate .legel action including injunction, abatement, or eviction
`;` � of nor.complying tenancy, during the period of life ot the last
t
`�'` surviving lived member of the presently existing 5oazd nf County ;
t ';-a ;
� .:.`.� Comnissioners of Pitkin County, Colorado, plus t�renty-one (21? � ;�
f �, � yeazs, or for a period of fifty (SO) years fron hlie date of the k=
} �4 recording hereof in the Pitkin County Real Property record�, �
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� - R whichever period shall be less,
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y"�;,:� 5. It further recomnends to the Eoard of County Comnissioners
��:°:.? �`,
��,�.�r
��:-?,:°� that each current owner of said units be required to acknowledge
�'�� `�,=� this limitation as a condition foz release of the Declarations oi
�+�,..-=�1
�"-�.�' Right of First Ref usal.
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�j BOON 480 PA�E9�4� `� ���
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,ti��:__'� APPROVED, by the Housing Authority Boarc: of the City of • .
j�*;;.: Aspen and Pitkin County at its meeting of flovemher 15, 1984.
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'�; SQUSIIIG AU4'HOP.ITY OF THE CITY OF �� �
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. 3 ASPEII AidL� PZTF:II� COUNTY: ':r;"..
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�'°'`-�`�` HARRY TRTISCOTT, CHAIP.IdAN j
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- �t� JAi:ES L. ADAIISKZ, SECF.ETAP,Y
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