Glenwood Springs – Main OfficeDevelopment and Vested Property Rights Agreement • April 12th, 2024
For Council’s consideration is a proposed Development and Vested Property Rights Agreement (“Development Agreement”) to implement the Bolts Lake development concept and the Settlement Agreement with Battle Mountain. Council will recall that as part of the ski/resort development concept from 2008, the Town and Battle Mountain entered into a lengthy Battle Mountain Annexation Agreement and Vested Property Rights Development Agreement approved by Ordinance No. 10 – Series 2008 (“2008 Annexation Agreement”). Pursuant to Section 1.4, the Development Agreement would supersede the 2008 Annexation Agreement, together with the Wastewater Agreement, Water Service Agreement, various Escrow Agreements, and the 2012 Agreement Regarding Escrows and Funding. Adoption of the Battle Mountain Code Changes (Ordinance No. 1 – Series 2024) replaced the prior Battle Mountain Preliminary PUD Plan (Resolution 18 – Series 2008). Between the adoption of the Battle Mountain code changes and the Development Agree
DEVELOPMENT AND VESTED PROPERTY RIGHTS AGREEMENT IMPLEMENTING THE BOLTS LAKE SETTLEMENT AGREEMENTDevelopment and Vested Property Rights Agreement • April 12th, 2024 • Colorado
this “Development Agreement”) is made and entered into as of [ ], 2024 (“Execution Date”) by and among the following (individually, a “Party” and, collectively, the “Parties”): the Town of Minturn Water and Sanitation Activities Enterprise, an enterprise fund established pursuant to C.R.S. § 37-45.1-101 et seq. (“Enterprise”) and the Town of Minturn, Colorado, a home rule municipal corporation (collectively, as defined in Exhibit D, “Town”); and Battle North, LLC, a Georgia limited liability company (together with its successors and assigns, “Battle North”).
