(A) For all new construction (i.e., development that does not affect any existing buildings or structures) and demo/rebuild projects that result in a mitigation requirement of 438 square feet or greater, no less than one-half the mitigation of employee housing required by this chapter shall be accomplished with on site units.
(1) Exceptions. At the sole discretion of the applicable governing body, an exception may be granted from this subsection (A) based upon one of the following findings.
(a) Implementation of the on site unit mitigation method would be contrary to the intent and purpose of the applicable zone district.
(b) Implementation of the on site unit mitigation method would be contrary to the goals of the applicable elements of the Vail Comprehensive Plan and the town’s development objectives.
(c) Exceptional or extraordinary circumstances or conditions apply to the site that prevents the implementation of the on site unit mitigation method.
(d) The method of mitigation proposed better achieves the intent and purpose of this chapter and general and specific purposes of this title than the on site mitigation unit method.
(2) On site EHUs. All on site EHUs shall be deed restricted as a “Type IV-IZ” (type four, inclusionary zoning mitigation) or “Type VII-IZ” (type seven, inclusionary zoning mitigation) EHU in accordance with Chapter 13, “Employee Housing”, of this title.
(3) On site dormitory style units. At the sole discretion of the applicable governing body, an applicant may provide on site dormitory style units.
(4) Fees in lieu. An applicant may provide a payment of fees in lieu only for any fractional remainder of the requirement generated under this chapter totaling less than 438 square feet of EHU floor area.
(5) Remaining portion of requirement. Any remaining portion of the mitigation requirement not provided with on site units shall be provided in accordance with subsection (B) of this section.
(B) For all development projects except those mitigated by subsection (A) of this section, the mitigation of employee housing required by this chapter shall be accomplished through one, or any combination, of the methods further described in this section. Unless otherwise regulated by this title, the choice of method(s) used to mitigate the employee housing requirements of this chapter shall be at the sole discretion of the applicant.
(1) On site units.
(a) All on site EHUs shall be deed restricted as a “Type IV-IZ” (type four, inclusionary zoning mitigation) or “Type VII-IZ” (type seven, inclusionary zoning mitigation) EHU in accordance with Chapter 13, “Employee Housing”, of this title.
(b) At the sole discretion of the applicable governing body, an applicant may provide on site dormitory style units.
(2) Conveyance of vacant property on site. An applicant may convey on site real property to the town on which no covenants, restrictions or issues exist that would limit the construction of EHUs, at the sole discretion of the Town Council. This method does not mitigate the on site unit requirements of subsection (A) of this section.
(3) Off site units.
(a) The requisite number of EHUs, or a portion thereof, may be provided off site within the town, provided that such EHUs are deed restricted in accordance with this chapter.
(b) At the sole discretion of the Planning and Environmental Commission, an applicant may provide off site dormitory units, unless the application is for a special development district, in which case, the Town Council, in its sole discretion, may accept dormitory units as a method of mitigation.
(4) Payment of fees in lieu.
(a) The fee in lieu for each square foot shall be established annually by resolution of the Town Council, provided that in calculating that fee, the Town Council shall include the net cost (total cost less the amount covered by rental or sale income) of real property and all related planning, design, site development, legal, construction and construction management costs of the project, in current dollars, which would be incurred by the town to provide the square feet in that year.
(b) An administrative fee, established by resolution of the Town Council, shall be added to the amount set forth in subsection (B)(4)(a) of this section.
(c) Fees in lieu shall be due and payable prior to the issuance of a building permit for the development.
(d) The town shall use monies collected from the fees in lieu only to provide incremental new employee housing units.
(e) An applicant may provide a payment of fees in lieu only for any fractional remainder of the requirement generated under this chapter totaling less than 438 square feet of EHU floor area.
(5) Conveyance of vacant property off site. The Town Council may, at its sole discretion, accept a conveyance of vacant property off site in lieu of requiring construction of EHUs, provided that no covenants, restrictions or issues exist on the property that would limit the construction of EHUs.
(Ord. 1(2008) § 25; Ord. 23(2016) § 3)