Resolution No. 2-94Recorded at the reque st of and return to:
Park City Mu nicipal Corpora tion
P. 0. Box 1480
Park City, Utah 840 60
Attent ion : City Recorder
00·�·25893 Bt;Ct0871 PG00335-()0349
3-/3 ¢..
ALAN SPRIGGS, SUMMIT C:O!JMTY RECORDEB
1995 MAR 08 08:24 AM FEE $.00 BY Di'iG
REQUEST: PARK CITY MUNICIPAL CORP Resolut ion No . 2-94
A RESOLUTION AN NEXING 227.99 ACRES OF
HIDDEN MEADOWS
INTO THE CORPORATE LIMITS OF PARK CITY, UTAH
WHEREAS , a pet ition was filed by the own ers of the land ,
Blue Ledge Corporation, included within the area described on the
attached Anne xat ion Plat , reque sting Park City to annex that land
to the City, zoned as Resort Open Space (ROS ) and Estate (E) ; and
WHEREAS , the land is included within the City's
Annexation Policy Dec larat ion Statement and Annexation Boundary
area; and
WHEREAS , pu blic hearings , as required by law, were he ld
before the Planning Commis sion on September 22, 1993 , October 13 ,
1993 , November 17, 1993 and December 15 , 1993 , and the City Council
on January 20, 1994; and
WHEREAS , the att ached Anne xat ion Agreement
was approved by the Planning Commission at its meet ing
15, 1993 , and approved by the City Council at its
February 3, 1994; and
(Exhibit B)
of December
meet ing of
WHEREAS , the land in question is not included within any
other mu nicipal jurisdiction, and there have been no protests to
the annexation filed by any other jurisdi ction;
NOW , THEREFORE , BE IT RESOLVED by the City Council of
Park City , Utah that the land described on Exhibit A is hereby
annexed to the corporate limits of Park City, Utah.
SECTION 1. ANNEXATION . The land so annexed shal l enj oy
the privileges of Park City and be ent itled to receive all City
services on the same basis as other land within the City except as
provision of service is modified by the Annexation Agreement
attached as Exhibit B, and shall be subj ect to all City levies and
assessments as described in the terms of the Annexation Agreement
attached as Exhibit B.
SECTION 2. COMPLIANCE WITH STATE LAW . The Annexat ion,
in the judgment of Park City, meets the st andards for annexation
set forth in Title 10 , Chapter 2 of the Utah Code .
1 of 2
SECTION 3. EFFECTIVE DATE . This Resolution shall take
effect upon passage , provided that the annexation shall not be
deemed completed until this Resolution is recorded in the Office of the Summit County Recorder together with the Annexation Plat .
PAS SED AND ADOPTED 3rd day of February , 1994 .
PAR K CITY MUN ICIPAL CORPORAT ION
Ruth Ge zel ius , Mayor Pro Tern
Attest : �-Ccv ?ff. sLlWclov i�L. Shel don , City Recorder
'· App roved as to form : �Attorney
00425893 BK00871 p,;00336
2 of 2
.�
Exhibit)\
to
Resolution 2-94
IllDDEN MEADOWS SURVEY BOUNDARY
Beginning at a point North_ 00°19'41" East along the section line 295.82 feet from the east
quarter corner of Section 10, Township 2 South, Range 4 East, Salt Lake Base and Meridian;
and running thence South 77"00'00" West 1631.18 feet; thence South 35°30'00" West 1410.00
feet to the northeast corner of the Emma mining claim (Mineral Survey 3262); thence along the
northerly end lines of the Emma, the Emily No. 2, and the Hope No. 2 mining claims (Mineral
Survey 3262) North 77"39'13" West 1626.95 feet more or less; thence along the westerly end
line of the Gasoline Alley No. 6 mining claim (Mineral Survey 6992) North 28°59'00" West
222. 56 feet more or less; thence along the southerly side line of the Ina mining claim (Mineral
Survey 5490) North 59"06'00" East 465.36 more or less along the southerly side line of the
Bessie mining claim (Mineral Survey 5552) North 61 "0l'OO" East 1500.00 feet more or less;
thence along the easterly end line of the Bessie min ing claim North 83 °40'43" West 60 1.29 feet;
thence along the easterly end line of the Little Bessie mining claim (Mineral Survey 5490) North
40"09'07" West 601.17 feet; thence along the easterly end line of the Sunrise mining claim
(Mineral Survey 5490) North 40"09'07" West 135.53 feet more or less; thence along the south
line of the north half of the northwest quarter of Section 10 North 89°51'10" East 595.76 feet;
thence along the east line of the north half of the northwest quarter of Section 10 North
00"40'33" East 771 .40 feet; thence along the northerly side line of the Woodrow No. 1 mining
claim (Mineral Survey 6792) North 60" 10'00" East 516.35 feet more or less; thence along the
northerly side line of the Woodrow No. 2 mining claim North 62 "56'19" East 1501.54 feet;
thence along the westerly end line of the Glegg No. 1 mining claim (Mineral Survey 6792)
North 44 "04'01" West 31.07 feet; thence along the northerly side line of the Glegg No. 1 mining
claim North 75°55'00" East 1435.63 feet more or less; thence along the southerly end line of the
Potosi mining claim (Mineral Survey 6192) North 78 "41 '14" East 40 .19 feet; thence along the
easterly side line of the Potosi mining claim North 53 "33'00" East 5.10 feet; thence along the
northerly side line of the Glegg No. 1 mining claim North 75°55'00" East 21.29 feet more or
less; thence along the easterly end line of the Glegg No. 1 mining claim South 41 "00'00" East
643 .43 feet more or less; thence along the easterly end line of the Glegg No. 2 mining claim
South 39°40'23" East 608.58 feet; thence along the easterly end line of the Glegg No. 3 mining
claim South 38"46'13" East 606.70 feet; thence along the southerly side line of the Glegg No. 3
mining claim South 75"52'07" West 1501.92 feet; thence along the southerly side line of the
Glegg No. 6 mining claim South 63" l 7'52" West 344.36 feet; thence along the east line of
Section 10 South 00°19'4 1" West 1178.19 feet to the point of beginning. Description contains
258.38 acres.
004·25893 P..;.:00871 PG00337
ExhibitB
to
Resolution 2-94
HIDDEN MEADOWS ANNEXATION AGREEMENT
THIS AGREEMENT is made by and between Park City Municipal Corporation ("Park City") and
Blue Ledge Corporation, a Utah corporation, (Blue Ledge) to set forth the terms and conditions
under which Park City will annex land owned by Blue Ledge into the corporate limits of Park City,
and extend municipal services to that property. This agreement is made under authority of Utah Code
Annotated §10-2-4 14, (1953, as amended) and shall serve as part of a supplemental annexation policy
declaration when executed by all parties. In consideration of Park City's agreement to annex Blue
Ledge's property and in consideration of the mutual promises contained herein, the parties agree that
the terms and conditions of annexation shall be as follows:
1. Property. The property to be annexed is described on the attached Exhibit A, and is referred to
herein as the Hidden Meadows Property.
2. Zoning. Upon annexation, the Hidden Meadows property will become subject to the Park City
Land Management Code, Subdivision Regulations, Sensitive Lands Ordinance, and all other Park City
ordinances and building regulations. The property will be zoned in two areas as shown on the
annexation plat for the property, which is incorporated into this agreement as Exhibit B. The open
hillsides outside of the development area will be zoned RECREATION OPEN SPACE (ROS). The
developed area will be zoned EST ATE (E), with maximum density as outlined in Paragraph 4 of this
agreement. It is understood that the underlying zone for the entire parcel for the purpose of density
calculations is Estate (E) and that the open space areas will be zoned Recreation Open Space (ROS)
to ensure the area remains in open space.
3. Master Plan Approval. The Planning Commission has approved a master plan as part of the action
on the annexation. The density, road and lot locations, open space and other parameters of the
project shall be consistent with the master plan approval as shown in Exhibit C. The master plan
approval is contingent upon approval of this agreement by the City Council. The MPD approval is
valid for two years from the date of the Royal Oaks Phase II plat recordation.
4. Density.
A Underlying Density. The underlyi ng density of Hidden Meadows is calculated as if the entire
parcel is zoned Estate, with the Sensitive Lands Ordinance applied. The total density without
bonuses or Royal-Oaks reconfiguration shall be no greater than 3 5 lots.
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B. Royal Oaks Phase II Reconfiguration Bonuses. Park City desires to reduce the visual
impacts of Royal Oaks Phase II, as approved in 1991, and to maintain the hillside below the
Oaks Clubhouse in as natural a state as possible. In order to achieve this, Park City agrees to
grant density bonuses to Blue Ledge on the Hidden Meadows property in consideration for the
relocation of the most visually obtrusive Royal Oaks Phase II lots. Nine lots shall be moved
from Royal Oaks Phase II to the Hidden Meadows property; an additional nine lots shall be
granted to Blue Ledge as a bonus for accommodating the reconfiguration. Reference Exhibit
C.
C. Total Density. The total density on the Hidden Meadows Property shall be 53 lots. Nine
of these lots shall be part of Royal Oaks Phase II; the remaining 44 lots shall be Hidden
Meadows lots. The density shall comply with the provisions of the Sensitive Lands Ordinance,
with the exception of the bonus and Royal Oaks Phase II lots.
D. Alternate Density. Hidden Meadows Property shall not receive any plat approvals until the
developers of Royal Oaks Phase II have received Planning Commission approval for a final plat
to reconfigure the Royal Oaks Phase II deleting nine lots as shown conceptually in Exhibit C.
If the developers of Royal Oaks Phase II have not recorded that plat within eighteen months
of adoption of this agreement, the underlying zoning of Estate (E) and Recreation Open Space
(ROS) shall dictate the density of the Hidden Meadows parcel, with no bonuses granted.
5. Site Planning. The configuration of the Hidden Meadows Property shall be substantially as shown
in Exhibit C and as described in the MPD approval.
6. Trails and Sidewalks. A trails plan shall be approved concurrently with the preliminary plat and
shall conform to the MPD approval. The trails shall be dedicated to Park City in the final plat. Park
City reserves the right to develop additional trails in any open space areas which are dedicated to Park
City.
7. Open Space. The Hidden Meadows Property open space shall be as shown in Exhibit C.
A Ownership. Blue Ledge shall by statutory warranty deed transfer land designated as
Recreational Open Space (ROS) to the City in fee simple. Blue Ledge hereby warrants
marketable title to the entire area designated ROS in Exhibit C.
B. Use Restrictions and Preservation. The open space areas shall be subject to a restriction
which will ensure the perpetual preservation of the open space and restrict the uses of the
parcels. This restriction may take the form of a deed restriction, conservation easement, or
some other mechanism acceptable to the City Attorney.
C. Maintenance. Open space shall be maintained by the entity holding fee title to the property
unless other provisions have been made by agreement or as conditions of plat approval.
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00425893 B�.00371 F.,:;00339
8. Fire Safety. Exterior and interior fire sprinklers are required. Wood roofs are prohibited.
9. Affordable Housing. In consideration of the foregoing, Blue Ledge shall provide 4.4 affordable
unit equivalents as required by Resolution 8-93 as provided in Exhibit D.
A. Duplex Units. Two affordable rental units shall be provided in duplex configuration in
conjunction with the Hidden Meadows project. These units shall comply with Resolution 8-93.
Unit size, occupancy and affordable housing restrictions on the units shall be reviewed by the
Planning Commission concurrent with final plat approval. The Commission shall make a
recommendation to the Park City Housing Authority (Housing Authority) on the general terms
of a Moderate Income Rental Program Agreement (MIRP A). The approval of the MIRP A by
the Housing Authority is a condition of final plat approval.
B. Remaining Requirement. The remaining affordable housing requirement shall be provided
through in-lieu payment or by other methods reviewed and approved by the Housing Authority.
The Planning Commission shall review proposals for satisfying the remaining requirement
during subdivision review and shall make a recommendation on the method and parameters to
the Housing Authority. The Housing Authority shall approve a MIRP A as a condition of final
plat approval.
C. Security Required. Security for the entire 4.4 affordable housing unit requirement totalling
$264,000 shall be posted prior to plat recordation.
D. Deadlines.
1. Duplex Units. The duplex units described in sub-paragraph 9.A. must be one of the
first five structures in the subdivision to receive building permits and must be
approved for occupancy within 18 months of the building permit issuance for the
duplex unit. If the duplex units do not meet these conditions, the security for
affordable housing, together with accrued interest, shall be forfeited to the Housing
Authority.
n. Other Units. The units described in Paragraph 9.B. must be constructed within two
years of plat recordation. If this condition is not satisfied, the security for affordable
housing, together with accrued interest, shall be paid over to the Housing Authority.
111. Security. If all affordable units are built prior to the respective deadlines, the security
for affordable housing, together with interest, shall be returned to Blue Ledge.
E. Fee Waivers. Affordable housing fee waivers outlined in Resolution 8-93 (Exhibit D) shall
not be available for affordable housing built in conjunction with the requirement for affordable
housing set forth in paragraph 9.
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I 0. Roads and Road Design. All streets and roads within the Hidden Meadows property shall be
public and public access may not be obstructed. All streets and roads, excluding the cul de sacs and
the meadow loop road, must be platted and built in the first phase of the development. Park City
agrees to consider road designs submitted by registered engineers on Blue Ledge's behalf, and agrees
that roads within the project will be required to meet Park City standards for residential and collector
streets, including adequate provisions for construction traffic.
A The road traversing the hillside below the Oaks Clubhouse shall have a minimum width of
twenty-four feet from back of curb to back of curb, with a ten-foot shoulder on each side. The
road design will be rigorously reviewed by the staff for retaining walls, landscaping, and
irrigation which will minimize the visual impact of the road crossing. This road shall have a
very confined limit of disturbance, particularly on the downhill side, in order to retain as much
of the natural screening as possible.
11. Future Rights-of-Way. The subdivision plat for the Hidden Meadows Property shall show a right
of-way, of at least fifty feet in width, on the east edge of the property bordering the Gillmor parcel
in the general location of the existing dirt road. The right-of-way shall not be improved for public
vehicular traffic until a review of the Park City Annexation Declaration Policy and Comprehensive
Plan is completed and the use of the right-of-way is determined to be appropriate and desirable as a
result of such comprehensive review. Blue Ledge, as the developer, shall have no obligation now or
in the future to construct or pay for the construction of this road beyond the cul-de-sac bulb; provided
that if Blue Ledge still owns lots at such time as a special improvement district is formed for that
purpose, Blue Ledge would be subject to assessment on the same basis as other lot owners.
12. Sanitary Sewer. Alignment of the sanitary sewer through Chatham Crossing is subject to Park
City review and approval prior to and after final design. Blue Ledge shall submit a revegetation plan
for the disturbance associated with the installation of the sanitary sewer. This plan shall be approved
by the staff prior to commencement of sanitary sewer construction.
13. Dedication ofWater Rights. In consideration of the benefits incurred to Park City in the January
22, 1992 "Agreement between Park City Municipal Corporation and United Park City Mines
Company Consenting to a Sale of Surplus Salt Lake City Water," Park City will not require
dedication of water rights by Blue Ledge as a condition of annexation of the Hidden Meadows
property.
14. Water Connection and Development Fees and Other Water Costs. As each building permit is
obtained for individual houses within the subdivision, the owner shall pay the Park City water
connection and development fees as provided by the Park City ordinance in effect at the time of
application for building permits. Because there is no longer desirable distribution capacity in the Oaks
Tank, Blue Ledge shall be required to pay a City approved portion of the cost of a pump station to
send water from the Chatham area to the Solamere area.
4 of7 OB'.)425893 Br.:00371 PG0034t
15. Homeowners Association. A Homeowners Association shall be formed to maintain trails and any
common open space under the ownership of the association.
16. Park Development Fees. Blue Ledge shall pay and agrees not to contest Parks and Recreation
fees in the amount of $1035 per Hidden Meadows lot prior to final plat recordation. However,
pursuant to Paragraph 7 of this Agreement, Blue Ledge is dedicating substantial open space to Park
City. Accordingly, all or part of the Park and Recreation fees may be waived by Park City in an
amount to be determined by the Park City Parks, Recreation and Beautification Board. The potential
for a fee waiver shall be scheduled on the first available agenda of the Park City Parks, Recreation
and Beautification Board upon the execution of this Agreement. Blue Ledge shall not be responsible
for payment of Parks and Recreation fees for the nine Royal Oaks Phase II lots located on Blue Ledge
Property.
17. Planning Review Fees. Blue Ledge shall be responsible for all subdivision approval fees as
deemed appropriate by the Community Development Director. Blue Ledge shall not be responsible
for payment of fees for the nine Royal Oaks lots located on the Hidden Meadows parcel.
18. Impact and Building Fees. Blue Ledge or successor owners oflots will pay and not contest all
generally applicable impact (including school facilities impact fees), building permit, and plan check
fees due for construction on the annexed land as provided by Park City ordinance in effect at the time
of application for building permits.
19. Acceptance of Public Improvements. Park City will accept title to the public improvements
within each phase of the project upon final approval of the construction for each phase. Blue Ledge
shall pay for i:he usage of water in each phase sufficient, in the opinion of the Park City Public Works
Director, to avoid freezing of water lines until homes have been built on 23 lots (or 50% of the lots)
in that phase.
20. Snow Removal and Storage. Park City is not obligated to take over snow removal responsibility
on public streets within Hidden Meadows Property until at least 23 lots in the Hidden Meadows
Subdivision exclusive of the Nine Royal Oaks Phase II Lots) have been improved by the construction
of a house on those lots as evidenced by issuance of a certificate of occupancy on those lots. Until
that occurs, snow removal shall be Blue Ledge's responsibility, or that of the homeowners'
association. Because of the project location within a drift line and on a north-facing slope, a ten-foot
snow storage easement shall be provided on either side of all streets within Hidden Meadows.
21. Governing Law. This agreement shall be governed by the Jaws of Utah.
22. Full Agreement. This agreement contains the full and complete agreement of the parties
regarding the annexation and their are no other agreements in regard to the annexation of the Hidden
meadows Property. This agreement may only be modified or varied by in writing signed by the
parties.
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Dated this 2nd day of March, 1995.
BLUE LEDGE CORPORATION
By: -( V Its: >f'r<':o, .J..,. -1
CORPORATE ACKNOWLEDGMENT
STATE OF UTAH ) : SS.
County of Summit )
On the ..3 day of March, 1995, personally appeared before me
Hl'.\.lk. J<on.\We:i 1 , who did say that he/she 1s the
PRF51!\FNT of Blue Ledge Corporation, and that the foregoing Agreement was
signed in behalf of said corporation by authority of a resolution of its board of directors; and said
person acknowledged to me that said corporation executed the same.
PARK CITY MUNICIPAL CORPORATION
6 of 7
Attest:
Anita Sheldon, City Recorder
Approved as to Form:
Exhibit A -Legal description of property to be annexed
Exhibit B -Annexation plat (estimated reduction -original recorded w/ Summit County Recorder)
Exhibit C -Site plan per approved MPD (reduction)
Exhibit D -Resolution 8-93
K,\LEGAL\MH\AGREBIHIDMEAD.FNL 7 of7 0 0 4 2 5 8 9 .-;-3 B1-.:00871 F\�00344
EXHIBIT A
HIDDEN MEADOWS SURVEY BOUNDARY
Beginning at a point North 00°19'41" East along the section line 295.82 feet from the east
quarter corner of Section 10, Township 2 South, Range 4 East, Salt Lake Base and Meridian;
and running thence South 77°00'00" West 1631.18 feet; thence South 35°30'00" West 1410.00
feet to the northeast corner of the Emma mining claim (Mineral Survey 3262); thence along the
northerly end lines of the Emma, the Emily No. 2, and the Hope No. 2 mining claims (Mineral
Survey 3262) North 77°3 9'13" West 1626.95 feet more or less; thence along the westerly end
line of the Gasoline Alley No. 6 mining claim (Mineral Survey 6992) North 28 ° 59'00" West
222.56 feet more or less; thence along the southerly side line of the Ina mining claim (Mineral
Survey 5490) North 59°06'00" East 465.36 more or less along the southerly side line of the
Bessie mining claim (Mineral Survey 5552) North 61°01'00" East 1500.00 feet more or less;
thence along the easterly end line of the Bessie mining claim North 83 ° 40'43" West 601 .29 feet;
thence along the easterly end line of the Little Bessie mining claim (Mineral Survey 5490) North
40°09'07" West 601.17 feet; thence along the easterly end line of the Sunrise mining claim
(Mineral Survey 5490) North 40°09'07" West 135.53 feet more or less; thence along the south
line of the north half of the northwest quarter of Section 10 North 89°5 1 '10" East 595.76 feet;
thence along the east line of the north half of the northwest quarter of Section 10 North
00°40'33" East 771.40 feet; thence along the northerly side line of the Woodrow No. 1 mining
claim (Mineral Survey 6792) North 60°1 0'00" East 516.35 feet more or less; thence along the
northerly side line of the Woodrow No. 2 mining claim North 62 °56'19" East 1501.54 feet;
thence along the westerly end line of the Glegg No. 1 mining claim (Mineral Survey 6792)
North 44°04'0111 West 31. 07 feet; thence along the northerly side line of the Glegg No. 1 mining
claim North 75°55'00" East 1435.63 feet more or less; thence along the southerly end line of the
Potosi mining claim (Mineral Survey 6192) North 78°41 '14" East 40.19 feet; thence along the
easterly side line of the Potosi mining claim North 53 °33'00" East 5.10 feet; thence along the
northerly side line of the Glegg No. 1 mining claim North 75 ° 55'00" East 21.29 feet more or
less; thence along the easterly end line of the Glegg No. 1 mining claim South 41°00'00" East
643 .43 feet more or less; thence along the easterly end line of the Glegg No. 2 mining claim
South 39°40'23" East 608.58 feet; thence along the easterly end line of the Glegg No. 3 mining
claim South 38°46'13" East 606.70 feet; thence along the southerly side line of the Glegg No. 3
mining claim South 75 °52'07" West 1501 .92 feet; thence along the southerly side line of the
Glegg No. 6 mining claim South 63°17'52" West 344.36 feet; thence along the east line of
Section 10 South 00°19'41" West 1178.19 feet to the point of beginning. Description contains
258.38 acres.
00425893 BK00871 P,;!)0345
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ExhibitD
Resolution No. 8-93
A RESOLUTION ADOPTING AFFORDABLE HOUSING
GUIDELINES AND STANDARDS FOR
PARK CITY, UTAH
WH EREAS, the City Council has identified affordable
housing as a high priority in its work program for 1993 through
1995; and
WH EREAS, the City Council has adopted Resolution No. 37-
91 on December 5, 1991 which established policies to support and
increase affordable housing in Park City; and
WHEREAS, it is deemed in the best interest of the
community to formulate guidelines and standards so that there are
consistent and established criteria for review of project
applications, annexation petitions, and other planning actions
where affordable housing is an issue; and
WHEREAS, it is appropriate to base the following figures
on standards in other resort communities, two Park City studies,
HUD standards, and input from the Planning Commission subcommittee
on Affordable Housing;
NOW, TH EREFORE BE IT RESOLVED that the City Council adopt
the following:
ADOPTED.
$ECTION 1. AFFORDABLE HOUSING STANDARDS AND GUIDELINES
MINIMUM UNIT
studio
1 br
2 br
3 br
4 br
SIZE--STANDARD
400 square
550 square
750 square
950 square
1,100 square
MAXIMUM RENT--GUIDELINE
studio $400
1 br 500
2 br 650
3 br aoo
4 br 950
feet
feet
feet
feet
feet
It is assumed that the affordable units will be in multifamily
configuration. Modifications to the maximum rent guidelines may be
made based upon such factors as housing configuration (detached),
provision of a public benefit, or project amenities. These numbers
will be adjusted annually in consideration of the CPI and rental
1 of 2
rates. The city Council will reevaluate the rent maximums every
three years.
MAXIMUM CITY ASSISTANCE--STANDARD
$5,000 regardless of unit size or configuration.
LIMITATION PERIOD--GUIDELINE
15 years regardless of unit size.
The limitation period may be varied based upon provision of a
public benefit or other factors as negotiated by the City Council
or Housing Authority.
ANNEXATION REQUIR�MENTS--STANDARDS
10% minimum �ercent affordable housing.
2 bedroom standard unit size.
UNIT EQUIVALENTS
studio
1 br
2 br
3 br
4 br
FOR AFFORDABLE HOUSING--STANDARDS
.so
.75
1.00
1.25
1.50
IN LIEU PAYMENTS FOR ANNEXATION AFFORDABLE HOUSING
REQUIREMENT
studio 1 br
2 br
3 br
4 br
$30,000
45,000
60,000
75,000
90,000
The in lieu payment figures �re derived from a recent estimate of
the cost of providing one unit of affordable housing. The estimate
of $60,000 includes financing and title costs, construction costs,
and contingency costs for a two bedroom unit. All other in lieu
payments (for other sizes of units) are based upon the unit
equivalents. These numbers will be adjusted annually in
consideration of the CPI and estimates of affordable housing
development costs. The City Council will reevaluate the in lieu
amounts every three years.
SECTION 2. EFFECTIVE DATE. This Resolution shall become
effective immediately.
PASSED AND ADOPTED this 18th day of March, 1993.
PARK CITY MUNICIPAL CORPORATION
2 of 2
B]IBJ'-425893 BK00871. Pi;;003<�9