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056 of 2008 - **Null & Void** 0 08-1 P 08-4 Afttee W'te3e SALT LAKE CITY ORDINANCE No. 56 of 2008 (Rezoning Property Located at 477 North 300 West, and Amending the Zoning Map, with conditions and time limitation) AN ORDINANCE REZONING PROPERTY LOCATED AT 477 NORTH 300 WEST, AND AMENDING THE ZONING MAP, PURSUANT TO PETITION NO. 400- 07-38. WHEREAS, after hearings before the Planning Commission and the Salt Lake City Council, the City Council has determined that the following ordinance is in the best interest of the City. NOW, THEREFORE, be it ordained by the City Council of Salt Lake City, Utah: SECTION 1. Rezoning of property. The property located at 477 North 300 West, identified as County Tax ID (Sidwell #) 08-36-251-007, shall be and hereby is rezoned from Community Business (CB) to Residential/Mixed Use (RMU-45). SECTION 2. Amending zoning map. The Salt Lake City zoning map, as adopted by the Salt Lake City Code, relating to the fixing of boundaries and zoning districts, shall be and hereby is amended consistent with the rezoning identified above. SECTION 3. Conditions. This rezoning is conditioned upon the following two conditions: a. Execution and recording of a development agreement substantially in the form of the draft development agreement attached hereto as Exhibit A, and that specifically addresses the following points: • i. the height of structures on the subject parcel will not exceed 35 Feet, as measured in the Salt Lake City Zoning Ordinance; ii. the required rear yard will be located along the west property line of the subject parcel; and iii. the development agreement shall run with the land. b. Filing an application for a building permit consistent with the terms set forth herein. SECTION 4. Effective Date. This ordinance shall become effective on the date of its first publication. The City Recorder is instructed not to publish or record this ordinance until the conditions identified above have been met, as certified by the Salt Lake City Planning Director or the Planning Director's designee. SECTION 5. Time. If the conditions identified above have not been met within one year after adoption, this ordinance shall become null and void. The City Council may, for good cause shown, by resolution, extend the time period for satisfying the conditions identified above. Passed by the City Council of Salt Lake City, Utah, this 22nd day of July , 2008. '‘4k__QO Leilf CHAIRPERSON ATTEST AND COUNTERSIGN: C44/Vitt4c..0' OV-tti-P-• CHIEF DEPUTY CITY RECORDER 2 Transmitted to Mayor on July 25, 2008. . Mayor's Action: V Approved. Vetoed. /I/1 MAY•R UI1/11.41-1A-- -Pa. APPROVED AS TO FOR? EF DEPUTY CITY CORDER Salt Lake City Attorn/ey's Office �'�....» kR� Date �- Z S- OO kk `t' 7:1 By rµ-� (SEAL) �'• �' % 4(1. I, fir i :1,0.:. Bill No. 56 of 2008. `ri n`,1 RlA iTril_Sitt• -:': (i Published: r1fp b~'�y 3 • Exhibit A DRAFT 7-17-081 When recorded return to: Salt Lake City Corporation Attn: Planning Director 451 S. State Street, Suite 406 Salt Lake City, Utah 84111 DEVELOPMENT AGREEMENT (Capitol Hill Investments Partners,477 North 300 West) This development agreement is entered into as of this day of , 2008 by and between Capitol Hill Investments Partners, LLC ("CHIP") and Salt Lake City Corporation, a municipality and political subdivision of the State Utah("the City"). RECITALS A. CHIP is the owner of certain real property located at 477 North, 300 West in Salt Lake City, Utah, more particularly described on Exhibit A attached hereto and incorporated herein by reference (the "Property"), on which it proposes to construct a condominium development, as more fully described on the plans attached hereto as Exhibit B (the "Project"). B. In order to construct the Project as proposed, CHIP has requested that the Property be rezoned from Community Business (CB) to Residential/Mixed Use (RMU-45). C. CHIP has also offered to modify the design of the Project in order to ensure greater compatibility with the surrounding neighborhood, and to further promote the policies, goals and objectives of the City. D. The City, acting pursuant to its authority under Utah law, and in furtherance of its land use policies, goals, objectives, ordinances, resolutions and regulations has made certain determinations with respect to the proposed Project, and in the exercise of its legislative discretion, has elected to approve this agreement. AGREEMENT NOW, THEREFORE, in consideration of the mutual covenants, conditions and considerations as more fully set forth below, CHIP and the City here by agree as follows: 1 • 1. Construction of the Project. In consideration of the City rezoning the Property to RMU- 45, CHIP agrees to construct a condominium development on the Property consistent with the plans attached hereto as Exhibit B. 2. Design Modifications. CHIP also agrees to the following restrictions on the development of the Property: a. The maximum building height will be no more than 35 feet from the established grade. b. The required rear yard will be located along the west property line of the subject parcel. 3. Agreement to run with the land. This agreement shall be recorded against the Property as described in Exhibit A attached hereto and shall be deemed to run with the land and shall be binding on all successors and assigns of CHIP in the ownership or development of any portion of the Property. 4. Subdivision plat approval and compliance with City design and construction standards. CHIP expressly acknowledges and agrees that nothing in this agreement shall be deemed to relieve CHIP from the obligation to comply with all applicable requirements of the City necessary for approval of plans for the Project, including the payment of fees and compliance with all other applicable ordinances, resolutions or regulations, policies and procedures of the City. 5. Reserved legislative powers. Nothing in this agreement shall limit the future exercise of the police power by the City in enacting zoning, subdivision, development, transportation, environmental, open space and related land use plans, policies, ordinances and regulation after the date of this agreement. 6. Assignment. Neither this agreement nor any of the provision, terms or conditions here of can be assigned to any other party, individual or entity without assigning the rights as well as the responsibilities under this agreement and without the prior written consent of the City, which shall not be unreasonably withheld. 7. No joint venture,partnership or third party rights. This agreement does not create and joint venture, partnership, undertaking or business arrangement between the parties hereto, nor any rights or benefits to third parties. 8. Integration. This agreement contains the entire agreement between the parties with respect to the subject matter here of and integrates all prior conversations, discussions or understanding of whatever kind or nature and may only be modified by a subsequent writing duly executed by the parties hereto. 9. Severability. If any part or provision of this agreement shall be determined to be unconstitutional, invalid or unenforceable by a court of competent jurisdiction, then such a decision shall not effect any other provision of this agreement except that specific provision 2 • determined to be unconstitutional, invalid or unenforceable. If any condition, covenant or other provision of this agreement shall be deemed invalid due to its scope or breadth, such provision shall be deemed valid to the extent of the scope or breadth permitted by law. 10. Voluntary agreement. This agreement is entered in to voluntarily by both parties in an effort to facilitate their mutual interests, and no party is acting under coercion or duress of any kind. 11. Specific performance. The parties acknowledge that in the event of a default of this agreement, other remedies may be insufficient to provide full relief and therefore consent to the imposition of an order of specific performance of the terms of this agreement, in addition to any other relief which may be available by law or ordered by a court of competent jurisdiction. 12. Effective date. This agreement shall be binding and effective on the date executed by all parties hereto. 13. Counterparts. This agreement may be executed in any number of counterparts with each executed counterpart constituting and original, but all of which together shall constitute one and the same instrument. 14. Notice. Any notice required or to be given to any other party under the terms of this agreement shall be directed to the following addresses: To CHIP: To the City: Capitol Hill Investment Partners, LLC Salt Lake City Corporation [ADDRESS] Attn: Planning Director [ADDRESS] 451 South State Street, Suite 406 Salt Lake City, Utah 84111 The parties agree to give prompt notice of any change in the foregoing addresses. 15. No waiver. Failure to enforce any provision of this agreement does not waive the right to enforce that provision, or any other provision. Executed as of the date first set forth above. CAPITOL HILL INVESTMENT PARTNERS, LLC By: Name: Title: 3 • STATE OF UTAH ) : ss. COUNTY OF SALT LAKE ) The foregoing instrument was acknowledged before this day of , 2008, by of Capitol Hill Investment Partners, LLC. NOTARY PUBLIC, residing in Salt Lake County, Utah My Commission Expires: SALT LAKE CITY CORPORATION By: Name: Title: ATTEST: Deputy City Recorder STATE OF UTAH ) : ss. County of Salt Lake ) The foregoing Development Agreement was acknowledged before me this day of , 2008, by Ralph Becker, The Mayor of Salt Lake City and by Christine Meeker, the City Recorder of SALT LAKE CITY CORPORATION. NOTARY PUBLIC, residing in Salt Lake County, Utah My Commission Expires: 4 Exhibit A 08362510070000 Legal description COMMENCING AT NORTH EAST CORNER BLOCK 120, PLAT A, SALT LAKE CITY SURVEY; SOUTH 165.0 FT; WEST 165.0 FT; NORTH 165.0 FT; EAST 165.0 FT TO BEGINNING Exhibit B Site Plan Elevation 500 North • LEVEL 1 total building footprint:13,998 of �+' r ,ti,- STUDIOUNc. 46: —4. .` . . ....,: �s , j y .j' interior common area: ;::. ,'::...,.. '"'` ''''� '"'" lobby/elevator:1513 gsf oo ' f t ( -� flexspace/lounge:750 gsf - , spa area:380 gsf '3/4 3 — - r�' total:2643 gsf L k 5 exterior common area: /yy� -- '3 :'� '�� -. k'" 1! ///MME'TAVIEW DEVELOPMENT y t` E }11lltM1M1 (walkways,courtyard, ;— H I ') > and stairs) =6927 sf p t r ' ~ T; rr, ,. .#, ■: % ri ' r. 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