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Lot 4
The sale of Lot 4 was the result of the
Town’s desire to provide a theater for the community. The proceeds of the sale
were to be dedicated to the furtherance of this objective. More detail about Lot
4, including the development agreement, master plan, Technical Review Committee
(TRC) approval letter with variances and photos, is below. Also below are links
to articles about Lot 4.
Image of Lot 4 - Click for larger
image
Stanley Historic
Master Plan
Lot 4 Development
Agreement
Lot 4 Variances
Letter - Technical Review Committee
A View of Lot 4 Stanley Historic
District
By Randy
Repola, Town Administrator
The Stanley Historic District has existed
with the current development limitations since 1994. Those limitations are
governed by 3 separate “Development Agreements” and will expire early in 2009.
The agreement applicable to Lot 4 was between the Town and FHK, Company. The
agreement was (and continues to be) a restriction on the development of Lot 4.
Per the Development Agreement land use is governed by the Master Plan, not the
Estes Valley Development Code, and not the more restrictive of the two. In that
same agreement, the Town of Estes Park purchased three of the nine lots to be
held as open space within the district. The Town then purchased an option on
Lot 4 in 1997 and ultimately took possession of the lot in 2004.
The Development Agreement was accompanied
by five “exhibits” (or attachments). Three of those “exhibits” (A, B and F) are
also part of the “Stanley Historic District Master Plan” and design guidelines.
Exhibits “A” and “F” list recommended uses for Lot 4.
Exhibit A to the Development Agreement
contains the Historic District design and use guidelines. The recommended uses
in the document are:
- Commercial uses –
businesses engaged in retail sales or services, particularly those related
to restaurants, offices and tourist and travel-related sales and services
- Attached dwellings.
- Single Family
Detached dwellings.
Exhibit F, which is also part of the
Historic District guidelines provides a “Land Use Summary” for each of the
lots. Lot 4 use is to be either a mixed use development containing 30,000
square feet of commercial, retail and office space and up to 20 units of second
floor residential multi-family units (for a total of 60,000 square feet). The
other option for Lot 4 was up to 40 units of residential units not to exceed
45,000 square feet. The Development Agreement can be amended by the Town, but
the Trustees have elected to leave the Lot 4 limitations in place.
Throughout the 13 years of existence, the
Stanley Historic District Master Plan and Guidelines have been utilized to
manage development within the district. The “Guidelines” have been used as just
that—a guide. Hence, they were not drafted in the same fashion as our
development or municipal codes.
Lot 4: How
We Got Here
By Randy Repola, Town Administrator
In January of
2005, the Town Board was still attempting to build a performing arts
facility. The initial plan in 2003 of a 40,000 square foot complex in the
Wiest parking lot had been rejected as being too costly to build and
operate.
Following the
2004 Town Board election, a team was formed to explore feasibility options
for building a theater. This team looked at alternatives and narrowed its
options to a facility either on Lot 4 of the Stanley Historic District, or
at the Stanley Park Fairgrounds. Lot 4, which is located directly behind
the eastern portion of Upper Stanley Village (excluding the area behind
Safeway), was vacant and the Town had no plans for its use. However, the
limitations placed on the lot by the Stanley Historic District Master Plan
and related development agreement made a theater impractical. Therefore,
the team elected to pursue a theater at Stanley Park and sell Lot 4 to
assist with construction costs.
At the regularly
scheduled Community Development Committee meeting in July, 2005, the team
presented its plan to the Committee in an open meeting. The concept was
approved and authorization was given to publish a request for proposals for
the sale of Lot 4. Ultimately, the Town received three proposals and
interviewed two of the three entities in September, 2005. The team
recommended that the Town accept the proposal and offer of $1.25 million
from Lot4ED, LLC. The recommendation was based upon the fit of the proposal
with the development agreement and master plan as well as a net present
value analysis of the purchase price and pro forma cash flow estimates. The
Town Board discussed and approved the contract with Lot4ED, LLC at its
February 14, 2005 regular meeting.
The sales
contract required the buyer to obtain approval of its project from the
Stanley Historic District Technical Review Committee (TRC). The initial
concept presented by Lot4ED, LLC was denied by the TRC because it contained
more commercial space than allowed under the master plan. A second plan was
submitted to the TRC based on less commercial space. The second plan was
approved with variances. The variances included: allowance of residential
units to be on the ground floor rather than the second floor; realignment of
an access driveway due to a change in the location of the hotel’s main
driveway (a variance formerly allowed to the Stanley Hotel); variance of the
building setback for one residential building to save existing trees; and a
reduction in the required parking from 186 spaces to 163 based upon the
shared parking for proposed uses.
The sale of
Lot 4 was the result of the Town’s desire to provide a theater for the
community. The proceeds of the sale were to be dedicated to the furtherance
of this objective. More detail about Lot 4, including the development
agreement, master plan, TRC approval letter with variances and photos, is
available on the Town web site (www.estesnet.com).
[Lot 4 images - Please click for a
larger image]
[Lot 4 images - Please click for
a larger image]
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