| | | | | | | | VAIL TOWN COUNCIL AGENDA MEMO
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| | | | | | | | ITEM/TOPIC: Resolution No. 15, Series 2019 a Resolution to Release a Deed Restriction Located at 1109 Vail Valley Drive pursuant to Section 12-13-5 of the Vail Town Code, in exchange for the placement of an employee housing deed restriction on Heather of Vail Condo Unit B-3/ 5197 Black Gore Drive Unit B-3, Vail, Colorado 81657 (the “Proposed EHU”).
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| | | | | | | | BACKGROUND: On March 26, 2019 the Vail Local Housing Authority (VLHA) reviewed a request to exchange an existing studio Type II Employee Housing Unit Restrictive Covenant at 1109 Vail Valley Drive. The new owner requested to exchange the existing EHU with a new Type III deed-restriction on a two bedroom condominium located at Heather of Vail Condos Unit B-3 / 5197 Black Gore Drive Unit B-3. The exchange meets the requirements listed in the Town Code 12-13-5 EMPLOYEE HOUSING UNIT DEED RESTRICTION EXCHANGE, therefore the VLHA recommends release of the restrictive covenant on 1109 Vail Valley Drive.
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