HomeMy WebLinkAbout2005727tdrsalesAGENDA ITEM SUMMARY
REGULAR MEETING DATE:
AGENDA ITEM TITLE:
STAFF RESPONSIBLE:
July 27, 2005
First Reading of Ordinance Approving Contract for
Sale of Transferable Development Rights
Debbie Qui~%--~
DESCRIPTION OF ISSUE: This is a first reading for the attached ordinance, which authorizes
the County to complete a sale of transferable development rights (TDR's) on four mining claims
in which it holds a minority interest. The claims and the County's ownership interest in each are:
Mackey - 6.25%
Grand View - 10%
Burro - 10%
Kitty B - 6.25%.
These claims are among 8 mining claims known as the Park Tunnel claims, located on the Castle
Creek side of Aspen Mountain, recently rezoned t~om AF-Ski to Rural and Remote. A written
offer has been received to purchase TDR's from these claims for $225,000 each, from which the
County would receive around $73,000 for its share, less its pro rata share of closing costs. Any
real estate commissions are to be paid by the buyer.
Although there have been discussions about conveying the sterilized land to the Forest Service or
one of the interest holders, this Ordinance only authorizes the sale of the TDR's and the County
will still own its undivided interest in the sterilized land. Any future disposition of the County's
interest in the land will require new Board action.
Before closing, the owners will need to submit and obtain approval for the issuance of TDR's for
the 8 claims. The Board needs to direct staff to consent to the application on its behalf.
RECOMMENDED ACTION: Approve the attached Ordinance on first reading and set for
second reading and public hearing on August 10, 2005. Direct the Assistant County Manager to
consent to the application for issuance of TDR's on the County's behalf.
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AN ORDINANCE OF THE BOARD OF COUNTY COMMISSIONERS
OF PITKIN COUNTY, COLORADO AUTHORIZING THE SALE OF
TRANSFERABLE DEVELOPMENT RIGHTS
ORDINANCE #05-
.RECITALS
1. Pitkin County owns undivided interests in real property (hereinafter the
"Property") as follows:
Mackey Lode, M.S. 4047 - 6.25%
Grand View Lode, M.S. 3619- 10%
Burro Lode, M.S. 3883- 10%
Kitty B. Lode, M.S. 3970 - 6.25%.
2. Pitkin County shares ownership of the Property with a number of other owners
who desire to sell the transferable development rights from the Property and four other properties
in which the County has no ownership interest.
3. The Property is zoned Rural and Remote under the Pitkin County Land Use Code
and is eligible for the issuance of transferable development rights (TDR's).
4. A written offer has been made to purchase the TDR's to be generated from the
Property for $225,000 each. If4 TDR's are sold from the Property, Pitkin County's pro rata
share will be around $73,000.
5. There is no year round motor vehicle access to the Property, and it is in the best
interests of the citizens of Pitkin County to sever and sell the development rights to the Property.
NOW THEREFORE BE IT ORDAINED by the Board of County Commissioners of
Pitkin County, Colorado that:
1. the County's share in the development rights of the Property be converted to TDR
certificates! . t in the TDR's from the Property be sold pursuant to a written
2. the County s mteres
contract to purchase the TDR's for $225,000 each; and
3. the Chair is authorized to execute all documents necessary to finalize the transaction,
including but not limited to a contract to buy and sell real estate consistent with the terms
recited above, provided that any such document is first approved as to form by the
County Attorney.
INTRODUCED, FIRST READ, AND SET FOR PUBLIC HEAR3NG ON THE 27t~
DAY OF JULY, 2005.
NOTICE OF pUBLIC HEARING pUBLISHED IN THE WEEKEND EDITION OF
THE ASPEN TIMES ON THE __ DAY OF ., 2005.
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Ordinance #0~_~, page 2 of 2
APPROVED UPON SECOND READING AND PUBLIC HEARING ON THE 10TM
DAY OF AUGUST, 2005.
PUBLISHED AFTER ADOPTION 1N THE WEEKEND EDITION OF THE ASPEN
TIMES ON THE __ DAY OF AUGUST, 2005.
ATTEST:
BOARD OF COUNTY COMMISSIONERS
OF PITKIN COUNTY, COLORADO
Jeanette Jones
Deputy Clerk
Patti Kay-Clapper, Chair
Date:
APPROVED AS TO FORM:
County
PID# 273524400034
273524400012
273524100037
Hilary F_l/~_tc~her Smith
County l~l~ager
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