§ 3.23.11. Early vested rights.

A.

Under circumstances deemed appropriate by, and at the sole discretion of, the City Council, a landowner may obtain an Early Vested Right prior to the approval of a Site Specific Development Plan. An Early Vested Right is intended to provide a landowner with a reasonable level of certainty with respect to such early matters as zoning, general land-use classifications, or development approvals of a preliminary nature, in reliance upon which substantial expenditures may be made, while minimizing certain potential inflexibilities, risks and liabilities of the City associated with, and more appropriate to, the later approval of a Site Specific Development Plan pursuant to C.R.S. § 24-68-101 et seq.

B.

An Early Vested Right shall be created and granted only by Development Agreement and any action authorizing a Development Agreement which creates an Early Vested Right shall be deemed legislative in nature, and in the form of an ordinance, upon a consideration of the following factors:

1.

Whether the benefits to the City of granting an Early Vested Right outweigh the associated costs and risks;

2.

Whether the nature of the project, or relevant circumstances including, but not limited to, the size and phasing of the development, financing considerations, economic cycles, market conditions, and benefits to be derived from the project by the City, support the discretionary grant of an Early Vested Right;

3.

Whether the City has received adequate assurances that the development will go forward as planned in return for any vesting of property rights prior to the approval of a Site Specific Development Plan; and

4.

Whether the Development Agreement creating the Early Vested Right incorporates adequate protections for the benefit of the City against risks associated with the creation of vested property rights prior to the availability of details typically provided by a Site Specific Development Plan.

C.

Any grant of an Early Vested Right is pursuant to the home-rule powers of the City and separate and distinct from, and independent of, the provisions of Article 68 of Title 24, Colorado Revised Statutes.

D.

The period of vesting pursuant to the grant of an Early Vested Right may be for any period of time up to ten (10) years, as agreed to between the City and landowner, and as set forth in a Development Agreement.

E.

No formal application for an Early Vested Right shall be required, but a request for an Early Vested Right shall be made in writing and shall include an explanation in justification of the granting of an Early Vesting Right. As a matter within the complete discretion of City Council, and legislative in nature, City Council shall not be compelled to act upon any request for an Early Vested Right. Favorable consideration, however, which results in the execution of a Development Agreement shall result in the requirement that that fee applicable to an Application for Vested Right pursuant to § 3.23.3 be paid.

F.

An Early Vested Right, once granted, shall preclude the City from initiating any of the following actions, except as specifically provided for in subsection 3.23.11 G:

1.

Rezoning of the property, to the extent the property's zoning is the subject matter of the Early Vested Right;

2.

Rescinding general land-use designations approved as part of an Outline Development Plan, Concept Plan, or similar document, to the extent such designations are the subject matter of the Early Vested Right; or

3.

Applying subsequently-enacted standards, such as street standards or architectural standards, if specific standards relating to the same subject matter were an integral and specific part of the matter for which an Early Vested Right was granted.

G.

Notwithstanding the provisions of subsection 3.23.11 F, the City may pursue such actions with the consent of the landowner, or:

1.

To the extent that the City reimburses the landowner for all planning, architectural, and engineering costs incurred by the landowner subsequent to the grant of the Early Vested Right which were reasonable and necessary to progress to the next stage of the applicable development approval process; or

2.

If such actions are necessary to avoid a specific and substantial threat to the public health, safety, and welfare.

H.

The grant of an Early Vested Right shall not 1) prevent the City, in subsequent actions, from applying new ordinances, rules, regulations, and policies which do not result in those actions set forth in subsection 3.23.11 F; 2) create any liability for the City, or claim against the City, with respect to any initiated or referred measure; or 3) create any entitlement to a subsequent development approval.

I.

The effective date of an Early Vested Right shall be five (5) days after publication following final passage of the ordinance authorizing the Development Agreement granting the Early Vested Right.