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1U/2$/93 15:15 Rec S.�]0 Erk: 728 PG 592 �#�i` ��'.,
' Silvia Davis, F�itl.:in Cnty Clerk, Doc p.�,;i �'.r;`��
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RESOLIITION OF TfIS PITRIN COIINTY, COLORADO ';%_:
SOARD OF COQNTY COMMTSSIdNERS
, ,.�;.z,:`
CLARIFYING RESOLUTION 92-215 WITB RESPECT TO ' '�,'
',,' -
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TFTE USE OF TFIE W/J AFFORDAHLE HOUSING PROJECT FOR ��t?.x.-.M.
' � V '.::
i EMPLOYBE MITIGATION FOR ASPEN BAS& OPERATIONS �
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RE30LUTION 93-�5 f;± ';
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� RECITALS
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� 1. Aspen Base Operations (hereinafter "Applicant") has J ���'
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� applied to Pitkin County to request Special Review '
"' S�. .
approval for the outstanding issues of Resolution 92-215
�,
for the General Aviation facilities at the Aspen/Pitkin ;�,�
a .
. f; County Airport.
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� 2. The Applicant's requeat was heard at a duZy noticed
�t public hearing before the Board of County Commissioners
� {hereinafter �Board") on April 27, 1993 at which time the ,' �
e.
"� Board decided to discuss the use of six W/J Affo.rdable Y :
� Housing Units for mit�gation of 13.45 employees of Aspen ��
\
� Base Operations at a later tiate.
:�
; 3. The Board discussed mitigation of employees at their June
s
�; 14, 1993 work session and gave staff direction ta procee@ �
4 with drafting language. �
� � �,>t. �h.;
; 4. As part of the Special Review and GMP Exemption land-use �) �';
g � t.
� application, review and approval process for the Airport j
� General Aviation Area Redevelopment Project, the "first"
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� fixed-base operator was reguired to provide employee I !
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a �i��-
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rF362613 1�)/28/93 SJ7IJ Rec �.GC� BF: 728 FG 593 fi��- �':
-- Silvia Davis, Pit4;in Cnty Clerlt, aoc S�.uU ?" .. '��
' ' :y.: "�.
Reaolution #93-�5� ',�� !
Page 2
housing mitigation as follows: :`�,,:::i: ';
a. Construction or deed restriction of affordable '-�'�"}:�?"h��:
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: housing, or payment-in-lieu funds, for 13.45 FTEs. `
� �..�/.�
� Mitigation to be provided no later than the time a '�`�`-� �.
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� second FBO commences operations. Categories of �`�
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mitigation to be determined by Houaing Authority ��-'
� and based on employee salary ranges. �,�� ,
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� b. Construction or deed restriction ot affordable �'
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5
�' housing, or payment-in-lieu funds, for such
,
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additional FTEs, if any, above 47.o that are dis- �F
�' closed by an audit of the "first" FBO's operations Y;�
�? s
;•� within one year of its full operations. Mitigation �����4,
_ �i
- to be provided within a reasonable time after the
;� findings of the audit are pub2ished and finalized. Q,
.`� 5. ABO, Inc., was the top-ranked proposer in the Airport's
��
competitive selection process and desires to liquidate 4
i{ its employee housing mitigation obligation now, prior to r;,
` �i
` :g the start of construction of any FBO and GA facilities,
,�
' `'' rather than at some future date. .
�( 6. ABO has proposed as mitigation a 1989 Agreement with W/J
`' Ranch that provides ABO with a 15-year right-of-first-
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- refusal on five (S} of the twenty-seven (27) affordable �� '^�
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a housing units built there in 1989. Each of those units '�',' � .=
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� is a two-bedroom detached unit of 1,200 net leasable �'' '
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t square feet. ��
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� 7. The existing Deed Restriction on the 27-unit W/J Ranch ;;�;,�,; . '
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6#�62613 i��/28/93 SJ:iJ Fec �,t]U LaK' 72B F'.(3 594 �y� '`-
Silvia Davi�, Pitkin Cnty Cler•k, Doc $.GO �'�•: :��
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Resolutioa #93-�3'� ".;�. �
Page 3 �:
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Project provides for occupancy by "qualified moderate- "�;.�_Z. ,-
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middle income residents" but does not specify precise r `�
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i� rental amounts. �'�'���'-•-�:
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8_ The Board acknowledges .ASO�s timely contribution to the T"•� �
fy :,
Project, the like2ihood that the Project wouldn't have ��:'�;.
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been built without ABO's participation and that the ��-�
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J housing mitigation calculation/documentation procesa has .���'��
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� matured since 1989. -
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, 1 9. The existing Deed Restriction on the 27-unit W/J Ranch
!
Project, while state-of-the-art at the time it was
�.
F written, could be improved, to the benefit of employee Y;;,,
�.�
� housing, by upgrading it to updated employee-housing �"�' l
. �_ concepts and terminology and thus bringing it into
� conformance with the 1993 Affordable Housing Guidelines.
� a
� In the 1993 Guidelines, the Housing Authority reserves
� �• '
-� the right to interpret older deed restrictions and
� guidelines in light of the present guidelines and the ,�,
� best interests of employee housing in Pitkin County.
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�� 10. As a baseline for a settlement of this issue, the Housing ,
Office has taken the position that, absent the W/J-ABO
r
- relationship, it would calculate the present mitigation ��
�
; of 13.45 FTEs for this project as follows: �'�' w
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a. Six (6) two-bedroom units (at 2.25 employees/unit) '
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S to a total of 13.5 employees. �,. :
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� b. Based upon estimated salaries paid by ABO the �� ;
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Housing Office would require deed restriction (or '�'"`�''�
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tk36^613 ln/�8/93 15:15 Rec �.C+C� &f< 728 F'G 545 `�t��� -`•
.Silvia Davis, F'itk:in C�ty Clerk, Doc �.00U - �s,.
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i Resolution #93-/�S , ;.ij;;:� �
Page 4 ! '
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� payment-in lieu) of three (3) of the units to :�j.�-:=.q`• �-
� Category 3 specifications and three (3) to Category , �"4`
� 2. �i,
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c. 1993 deed restriction form. '��`=•
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il. The Board, recognizes the benefit to the community of the !�ti',:_�
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a; :
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timely contribution of ABO to the 27-unit W/J Ranch ct'. '
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� Project and the present liquidation or satisfaction of a `�+�.��.
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� future mitigation obligation, have proposed a settlement ,'
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� � with the following elements:
ea. ABO's future obTigation of 13.45 FTEs, to be :��
�
� satisfied by present actions, as follows: ���
i� M1;?�
� 1. Deed-restriction of six (6? two-bedroom
� detached units at W/J Ranch to CategoYy 3
r
; guidelines (13.5 FTE instead of 23.45; six
:.�.
units instead of five; confirm Category 3) .
2. Updated deed-restriction form (signed by W/J.
ABO, and W/J's mortgagee; confirmation of �;
� � 1,200 s.f. units as qualified "single-family 1
� g
-� � .
detaahed��; increase from 15-year abligation) .
� 3. Recognition given for ABO's 1989 contribution
of $15,0OO.00, adjusted for the cash-in-lieu ��
'. schedule in effect at the time of the project, 'Fr ��
, . i y9,. A2+.'_
as payment-in-lieu credit of 0.9 FTE. f:`;, ' ��
� � 1
4. ABO provides present payment-in-lieu as a '� ' ,
( "buy-down" of the difference between Category �" �
' 2 and Category 3 oE SD�s of its net obligation, �':j`;_+;.. 1'
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,r_o<oa•� lvi�tl�v3 15:15 F2c �.pCa FjF•; 728 F6 596 #T�' ��"•
� Silvia Davzs, Pitkin Cnty Clerk:, doc �.uC� �^•'�:�a
"�'� '+,
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• Reeolution #93-�5 ` 'c '.V 'T
' Page 5 ('
' or $99,025 ($17,000 ($51,000 - $34,000) x ' r'� r
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� • 5.825 (6.725 - 0.9)l . •������
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; 5. RestriCtion of mitigation as a non- �
� ��.
j transferable asset of ABO. {.�}�.`',t
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12. This mitigation proposal was reviewed by the Board at a public '�:�:;
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meeting on August 10, 1993, at which time the Soard granted
%; �,;.
', approva]. of the agreement as drafted in this resolution. �":v'�
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. NOW, T1iEREFORE BE IT RESOLVED that the Board of County
Commissioners hereby approves the use of six (6) W/J ��
A£fordable Housing Units for mitigation of 13.45 ABO employees '':.r;
'��`�
T�,y
subject to the following conditions: .
� 1. The applicant shall provide the Aspen Pitkin County
Housing Authority cash-in-lieu payment to buy-down 6.725
, employees from Categoxy #3 to Category #2- The cost to
� buy down 6.725 employees is $114,325.00, however, ABO has
+� a Credit of 0.9 employees. Therefore, net mitigation ;
� equals 5.825 employees or $99,025. Should the applicant *
_ ° not choose to pay the cash-in-lieu requirement when the
� 1993 Affordable Housing Guidelines are in place, the .t�
applicant will be subject to the Guidelines in effect at
`
the time the payment is made.
;
�:� i 2. The applicant shall file a revised deed restriction of •
� six (6) detached two bedroom units at W/J to Category #3.
This deed restriction shall also run in perpetuity.. This
new deed restriction shall be executed at the time the ,�
payment for employee mitigation is made.
�t.4 �
APPROVED AND ADOPTED ON THE lOTH DAY OP AUGL7ST 1993. '�5�, ?`��
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�362613 ii�/:6/93 i�:15 Rec �.Up E�F; 72g FG 597 ,.�;y
� 5i2via Davis, Fitkin Cnty Clerk, Doc $.O�J
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= Resolutioa #93-�� ; -� -
`� Page 6 �
a � i
� BOARD OF COIINPY CONII3ISSTONERS � f j?� r
� OF PITRIN COUNTY, LORADO
1 � � �
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By �`
� Bill Tuite, Chaizman �
�
Date:
�'.1.3.%� '�.
as
ATT il*..
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J ette Sonea ��
D puty County lerk and Racorder
APPROVED AS TO. FORbi: APPROVED AS TO CONTENT: ,��;r�;,
�
. � ___�-!' v-" . L,L•k.P ��
Tim Whitsitt, /� Suzaz�n Roncha
- County Attorney Count lannia IIirector °�,
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