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Crested Butte City Zoning Code

ARTICLE 7

Timeshares

Sec. 16-7-10.- Purpose and intent.

The purpose of this Article is to establish the procedures and standards by which Timeshare Development may be permitted in the Town. This Article is referred to as the "Timeshare Development Guidelines." It is the Town's intent to establish Timeshare Development regulations that provide for the protection of the character of Crested Butte as a national historic district and a residential community, and that help to promote increased tourism and vitality within the Town by promoting further lodging opportunities for visitors. Specifically, the Town intends that new Timeshare Development projects will foster the goals of the Crested Butte Area Plan and will help to achieve and promote the following public purposes:

(1)

Increased vitality. Timeshare Development Projects can provide an opportunity for increased tourism within the Town, add to the level of community vitality and help to create a more sustainable local economy. These results can be accomplished by expanding the number and variety of beds available for use by visitors through a central reservation system, raising occupancy levels in the accommodations sector and attracting new trials to the Town by persons who have not previously visited the community.

(2)

Enhance and improve lodging inventory. Crested Butte's tourist accommodations inventory has traditionally included only a small number of traditional Hotels or Lodges, Motels and Bed and Breakfasts. The community would like to preserve, enhance and increase its lodging inventory by allowing Timeshare Development projects that look and operate in a manner similar to traditional Hotels or Lodges. These Timeshare Development Guidelines have been designed to accomplish this purpose by establishing standards for the physical and operational features of Timeshare Development Projects and to ensure that new and conversion Timeshare Development Projects promote traditional lodging goals and values.

(3)

Upgrade quality of accommodations. It is important to the Town's tourist economy that its accommodations are kept up to date. Timeshare Development offers the opportunity to infuse capital into the short-term accommodations inventory, thus permitting more frequent facility modernization. It is equally important to ensure that, once facilities are upgraded and modernized, said facilities are managed to provide a quality visitor experience over time. These Timeshare Development Guidelines are intended to ensure that Timeshare Development Projects are properly maintained over the life of the Project.

(4)

Maintain community character. Crested Butte has a valued reputation as a residential community. The Town intends to regulate Timeshare Development marketing and sales practices to ensure that the method in which Timeshare Estates are marketed and sold is consistent with the character of the community and to minimize the potential for practices that would create an inappropriate image of the Town. The Town also desires to protect its long-term residential neighborhoods to ensure that the impacts of Timeshare Development do not adversely affect the character and composition of these residential areas by limiting Timesharing to those zone districts where Short-Term Residential Accommodations are permitted.

(Ord. 8 §4, 2008)

Sec. 16-7-20. - Definitions.

The following capitalized terms shall have the meanings ascribed to such terms below. Defined terms used in the plural throughout these Timeshare Development Guidelines shall have the same meaning as defined terms below in the singular.

Applicant means the applicant or developer for any Timeshare Development Project.

Application refers to an application for Timeshare Development as described in Section 16-7-70 below.

Association means the condominium homeowners' association in any Timeshare Development Project.

Board means the Board of Zoning and Architectural Review.

Budget refers to the budget for the Association as further described in Paragraph 16-7-70(8) of this Article.

CC&Rs means the declaration of real covenants, conditions and restrictions encumbering the property that is the subject of a Timeshare Development Project as described in Paragraph 16-7-70(12) of this Article.

Code means the Town of Crested Butte Municipal Code of 2009, as amended and modified from time to time.

Commission means the Colorado Real Estate Commission established under Section 12-61-105, C.R.S.

Director means the Building and Zoning Director, Building Official or Building Inspector, as such terms are used in this Chapter.

Fiscal Impact Study refers to the fiscal impact study as described in Paragraph 16-7-70(5) of this Article.

Management and Maintenance Plan refers to the management and maintenance plan as described in Paragraph 16-7-70(6) of this Article.

Marketing and Sales Plan refers to the marketing and sales plan as described in Paragraph 16-7-70(7) of this Article.

Plat means, as applicable to a Timeshare Development Project, the condominium plat which shall meet the requirements of Article 12 of this Chapter or, if applicable, the subdivision plat requirements described in Appendix I to this Code.

Project means a Timeshare Development Project.

Timeshare Disclosure Statement refers to the Timeshare disclosure statement as described in Paragraph 16-7-70(4) of this Article.

Timeshare instruments means the CC&Rs, the Use Plan Regulations and the Plat.

Timeshare Use Plan refers to the Timeshare use plan as described in Paragraph 16-7-70(3) of this Article.

Upgrading Plan refers to the upgrading plan as described in Paragraph 16-7-70(9) of this Article.

Use Plan Regulations shall mean, to the extent not set forth in the CC&Rs, those regulations and rules adopted by the Association governing the use, occupancy, reservation and exchange of the physical units divided into Timeshare interests in the Project.

(Ord. 8 §4, 2008)

Sec. 16-7-30. - Properties where Timesharing is permitted and not permitted.

Timesharing shall be permitted only on those properties located in those zone districts where Short-Term Residential Accommodation uses are permitted. Notwithstanding the foregoing, residential units located within zone districts permitting Short-Term Residential Accommodation uses may not be timeshared under these Timeshare Development Guidelines and shall operate like Residential Units only and not a Short-Term Residential Accommodation, Condo Hotel, Hotel or Lodge, Motel or Resort.

(Ord. 8 §4, 2008)

Sec. 16-7-40. - Right-to-Use Estates prohibited.

Right-to-Use Estates are considered inappropriate in the Town and are not permitted as such interests are inconsistent with the character of the Town as a residential community. The creation, operation or sale of a Right-to-Use Estate or any other Timeshare concept which is not specifically allowed and approved pursuant to the requirements of these Timeshare Development Guidelines is unlawful.

(Ord. 8 §4, 2008)

Sec. 16-7-50. - Requirements for Timeshare Development Projects.

No Timeshare Estate shall be created with respect to any property unless the Applicant has complied with the requirements of these Timeshare Development Guidelines. Timeshare Development requires the issuance of a conditional use permit in the districts identified in the Zoning and Land Use Ordinance where Short-Term Residential Accommodations are a conditional use. Any person intending to Timeshare an existing structure or new construction must obtain approval of the Project through the conditional use permit approval process specified in Article 8 and Article 22 of this Chapter. Any attempt to circumvent the terms of these Timeshare Development Guidelines shall be a violation hereof. A conditional use permit may be issued for a Timeshare Development Project only where the Project meets the requirements of these Timeshare Development Guidelines and complies with the procedures and requirements set forth in Article 8 and Article 22.

(Ord. 8 §4, 2008)

Sec. 16-7-60. - Applicability of Timeshare Development Guidelines to Condo Hotels.

Condo Hotels are considered a hybrid between Short-Term Residential Accommodations uses and Timesharing, and Hotel or Lodge and Motel uses. Because of their similar attributes (e.g., ownership patterns, management and maintenance, marketing and sales, upgrading of conversions, fiscal impacts, etc.), they operate not unlike Timeshare Development Projects. Accordingly, the requirements for Timeshare Development Projects contained in these Timeshare Development Guidelines shall apply to Condo Hotels. Defined terms in these Timeshare Development Guidelines applicable to Timeshare Development Projects shall similarly apply to Condo Hotels, with changes in points of reference. No Condo Hotel shall be created with respect to any property unless said Project has first obtained a conditional use for a Timeshare Development Project and otherwise complied with the requirements of these Timeshare Development Guidelines. Where there is a requirement or submittal applicable to the approval of a Timeshare Development Project under these Timeshare Development Guidelines that the Director determines is not otherwise relevant or important to the review and approval of a Condo Hotel project as a conditional use under these Timeshare Development Guidelines, the Director may elect to not require such requirement or submittal.

(Ord. 8 §4, 2008)

Sec. 16-7-70. - Timeshare Development application.

In order to create a Timeshare Development Project, the Applicant thereof shall submit an Application for Timeshare Development to the Director complete with the following submittals:

(1)

Timesharing Reimbursement Agreement. At the time of submission of the Application for Timeshare Development, the Applicant shall deliver to the Director an executed Town-approved Timeshare Development Project costs and expenses reimbursement agreement obligating the Applicant to reimburse the Town for any and all costs and expenses reasonably incurred by the Town in connection with the Town's review, processing, prosecution and approval of the Application and associated submissions and the conditional use approval for Timeshare Development.

(2)

Timeshare Development Application deposit. At the time of submission of the Application for Timeshare Development, the Applicant shall deliver to the Director a deposit in the amount of five thousand dollars ($5,000.00) to defray the costs and expenses reasonably incurred by the Town in reviewing, processing, prosecuting and approving the Application and associated submittals and the conditional use approval for the Timeshare Development Project, which amount shall be paid by the Applicant to the Town as further delineated in the Timeshare Development costs and expenses reimbursement agreement. The deposit may be drawn upon as provided in the costs and expenses reimbursement agreement.

(3)

Timeshare Use Plan. The Timeshare Use Plan shall be complete with a detailed description of the Timeshare Development Project, including, without limitation, the occupancy of the physical units divided into Timeshare interests within the proposed Project. The Timeshare Use Plan shall, without limitation, describe the number of Timeshare Estates being created in each physical unit, the total number of Timeshare Estates to be created in the Project, whether the purchaser thereof is buying an estate for years, whether a purchaser thereof is buying a specific physical unit for a specific time or for a floating time, the reservation procedures to be followed, if any, to secure use and occupancy of a physical unit, and other elements of the use, occupancy, reservation and exchange of the Timeshare interests and the units, as the case may be. The Timeshare Use Plan shall include a description of the number of physical units, including the number of lock-outs, keys and bedrooms and any phasing of the Project that may impact the same. It shall also describe whether the owners thereof will be eligible to participate in an internal or external exchange program and, if so, in which program they will be eligible to participate and whether participation in such program is a mandatory condition of owning a Timeshare Estate. Other requirements for the content to the Timeshare Use Plan are contained in Paragraph 16-7-80(3) below.

(4)

Timeshare Disclosure Statement. The Applicant shall provide the Director with a Timeshare Disclosure Statement containing sufficient detail and information to verify any disclosures required therein. Other requirements for the content to the Timeshare Disclosure Statement are contained in Paragraph 16-7-80(2) below.

(5)

Fiscal Impact Study. For Projects that include a conversion of an existing property into a Timeshare Development Project, the Applicant shall provide a detailed Fiscal Impact Study that satisfies the requirements set forth in Paragraph 16-7-80(3) below.

(6)

Management and Maintenance Plan; Taxes.

a.

A detailed plan for the management and maintenance of the Project describing whether the Applicant or the Association will manage and maintain the Project or if it will be managed and maintained by a third party management and maintenance company, a bonded company or other entity, as the case may be, and describing how the Project will be operated, maintained and managed. Other requirements for the content in the Maintenance and Management Plan, and in the Maintenance and Management Agreement, if any, are contained in Paragraph 16-7-80(4) below.

b.

The Management and Maintenance Plan shall include provisions that require that the occupancy of any physical unit by anyone who pays a rental fee or other payment for lodging services related to such unit shall be subject to the Town's sales tax in the same manner as if such occupancy were of a Hotel or Lodge or Motel Unit.

(7)

Marketing and sales plan. The marketing and sales plan for the Project, including, without limitation, information on proposed sales techniques (e.g., description of gifts, premiums, promotions), sales packaging and whether a sales office will be established on-site or off-site. Other requirements for the content of the marketing and sales plan are contained in Paragraph 16-7-80(5) below.

(8)

Budget. A complete, detailed and itemized budget for the proposed Association, including, without limitation, an estimate of the costs and expenses for the management and maintenance of the Project.

(9)

Upgrading Plan. For any existing structure that is proposed to be converted to a Timeshare Development Project, the applicant shall submit a detailed and itemized plan of how the Project will be physically upgraded and modernized to comply with these Timeshare Development Guidelines and the conditional use approval applicable thereto. Other requirements for the content to the Upgrading Plan are contained in Paragraph 16-7-80(6) below.

(10)

Taxes. A statement from the Applicant indicating the manner in which land transfer excise taxes, property taxes and sales taxes will be collected.

(11)

Developer's registration. A copy of the Developer's registration with the Commission as required pursuant to Section 12-61-401, et seq., C.R.S.

(12)

CC&Rs. The draft CC&Rs affecting the property that is the subject of a Timeshare Development Project.

(13)

Use Plan regulations. The draft rules, regulations or procedures to be adopted by the Association for the use, reservation, exchange and occupancy of any unit in the Project divided into Timeshare interests. The Use Plan regulations may be included in the CC&Rs.

(14)

Condominium plat. A draft of the proposed condominium plat, if applicable.

(Ord. 8 §4, 2008)

Sec. 16-7-80. - Review criteria for application submittals.

The application submittals shall demonstrate compliance with the following requirements and review criteria. The Director shall review the Application submittals to determine their compliance herewith.

(1)

Timeshare Use Plan.

a.

The Timeshare Use Plan shall demonstrate that the negative impacts caused by the Project through the life thereof upon, without limitation, the Town's infrastructure, revenue sources, transportation system, roadway system, recreational amenities, municipal programs and other facilities, utilities and related structures, and programs and facilities of special districts providing services to the Town, will be satisfactorily mitigated.

b.

The plat shall demonstrate that the Project will include all necessary physical accommodations to assure satisfactory use as a Short-Term Residential Accommodation. All Projects shall maintain such physical accommodations throughout the life of the Project. The Applicant shall provide assurances in the CC&Rs or the plat that such requirement shall be met for the life of the Project, unless amended earlier as permitted hereunder, and shall submit the Project to periodic inspections, compliance reviews and/or reporting programs.

c.

The Timeshare Use Plan shall describe how the Applicant will pay, with respect to the Applicant's unsold Timeshare interests, assessments, taxes excepting the applicable land transfer excise tax, and fees equal to those assessed or levied on sold Timeshare interests. The CC&Rs shall explain how the applicant will pay said assessments, taxes, maintenance costs and expenses and fees through the life of the Project and shall contain assurances that the requirements set forth herein shall be complied with for such period, unless amended earlier as permitted hereunder. The Project shall be subject to periodic inspections, compliance reviews and/or reporting programs to assure compliance with these provisions.

d.

If the Timeshare Use Plan contemplates that owners are to be permitted or required to become members of or to participate in any program for the exchange of occupancy rights among themselves or for the Timeshare owners of other Timeshare interests, or both, the applicant shall, at a minimum, obligate itself in the Use Plan regulations to provide prospective purchasers with a full and accurate disclosure required by Commission regulations.

e.

The Timeshare Use Plan shall describe how the Project will have a staffed, on-site front desk located within a lobby that is sized to meet the needs of the Project. Said desk service shall be managed to provide consolidated registration and reservation services for owners, occupants and public walk-ins at the Project, including provision for late check-ins and for other off-hour guest needs. Subject only to availability, desk service shall accommodate walk-in, public rentals. The applicant shall provide assurances in the CC&Rs that such requirements shall be complied with for the life of the Project, unless amended earlier as permitted hereunder.

f.

The Timeshare Use Plan shall demonstrate that the Project contains an appropriate level of recreational facilities (e.g., exercise equipment, pool, spa, other similar facilities), meeting space as required by this Code and other appropriate amenities (e.g., restaurants and other similar facilities) to serve the owners and occupants in all seasons. The extent of the facilities and amenities provided shall be proportional to the size of the Project. The types of facilities and amenities shall be consistent with the planned method and style of operating the Project. Other than for the priority use of the owners of Timeshare Estates, their guests and persons occupying under an exchange program, all such facilities and amenities, including, without limitation, meeting spaces, shall be available for use by the general public for a fee on a space-available basis. The Project may, however, include locker room and equipment storage facilities available only to the owners of Timeshare Estates, their guests and persons occupying under an exchange program. The Applicant shall describe in the Timeshare Use Plan whether such facilities and amenities will be owned by a commercial unit owner or owned by the Association (or by the owners in common). The Applicant shall provide assurances in the CC&Rs that such requirements shall be complied with for the life of the Project, unless amended earlier as permitted hereunder.

g.

The Timeshare Use Plan shall mandate that all physical units in the Project are available for public rental when they are not being occupied by the owner, the owners' personal guests or persons occupying the units under an exchange program. The Timeshare Use Plan shall demonstrate the following:

1.

Units shall be made available for short-term rental by the public when a unit is not in use by the owner, the owner's personal guests or persons occupying the unit under an exchange program. Units that are available for rental shall be listed in the Crested Butte central reservation system and, at the Timeshare Estate owner's election, through the central reservation system of the company that will manage the Timeshare Estate if that is desired.

2.

The CC&Rs shall permit the walk-in rental of units. The Association shall not limit the rental of units to such arrangements as only weekly rentals or Saturday-to-Saturday rentals; rather the CC&Rs shall permit shorter stays, split-week rentals and similar flexible rental arrangements.

3.

Owners of Timeshare Estates shall be required to reserve their unit sufficiently far enough in advance to enable the general public to obtain access to those units that are not so reserved. Any reservations that are granted as a matter-of-right to Timeshare interest owners, their guests and exchange participants must be made at least eight (8) weeks prior to the associated stay. Any units not reserved by owners, their guests or exchange participants at least eight (8) weeks prior to the associated stay shall be made available to the public for rental. Any reservations made less than eight (8) weeks in advance are subject to being on a space-available basis only. Each owner of a Timeshare interest and exchange participant may only have one (1) space-available reservation on a unit at any given time.

4.

Units that remain in the Applicant's inventory shall be made available for rental to the public while Timeshare Estates are being sold, except for one (1) model of each style of unit that are reasonably needed for marketing or promotional purposes by the Applicant.

5.

No owner of a Timeshare interest, his or her guests or any exchange program participant shall have the right to occupy a Timeshare Development project unit for more than fourteen (14) consecutive days or thirty (30) days within any calendar year, regardless of the form of Timeshare Estate, provided that such thirty-day limitation may be exceeded where such use of a unit is available on a space-available basis only (i.e., as opposed to a matter of right).

6.

The Applicant shall demonstrate that the owners are prohibited from personalizing the unit in which they have purchased a Timeshare interest.

The Applicant shall provide assurances in the CC&Rs that such requirements shall be complied with for the life of the Project, unless amended earlier as permitted hereunder, and shall submit the Project to periodic inspections, compliance reviews and/or reporting programs.

h.

No Timeshare unit may contain less than six (6) or more than twelve (12) Timeshare interests. The Applicant shall provide assurances in the CC&Rs that such requirements shall be complied with for the life of the Project, unless amended earlier as permitted hereunder.

i.

The Timeshare Use Plan shall require that any proposal to convert an existing hotel or lodge, bed and breakfast, motel, resort or condo hotel property to a Timeshare Development shall, at a minimum, replace the existing number of physical units on the property in the Project with the same number of like units so that there is no net loss of units on the subject property and no net loss of public availability of short-term accommodations. The Applicant shall provide assurances in the CC&Rs that such requirements shall be complied with for the life of the Project, unless amended earlier as permitted hereunder.

(2)

Timeshare Disclosure Statement. The Timeshare Disclosure Statement shall be the same disclosure statement used by the applicant in its Marketing and Sales Plan and shall contain, and fully and accurately disclose, the following at a minimum. The Timeshare Disclosure Statement is required for the benefit of prospective purchasers of any Timeshare Estate from the Applicant. The Town accepts no responsibilities for the accuracy and veracity of the Timeshare Disclosure Statement. The Applicant shall provide three (3) copies of all the submittals delivered to the Commission. Such submittals shall become part of the Application, and may be specifically referenced in the Timeshare Disclosure Statements as described herein.

a.

A summary of the Applicant's and, if different the developer's, business experience, including, without limitation, all background and experience in the development of Timeshare Development Projects and the Applicant's present financial condition.

b.

Information regarding the identity of the management and maintenance company for the Project, and a description of the responsibilities, powers, duties, authority and business experience of the same. All information on the management and maintenance company's background and experience specifically related to Timeshare Development Projects shall be provided.

c.

Information regarding the marketing entity and the listing broker and a statement of whether there are any disputes pending or investigations that have been undertaken against the marketing entity or listing broker and, if so, a description of the status or disposition of said disputes or investigations. A summary of the marketing entity's business experience, including, without limitation, all background and experience related to Timeshare Development Projects.

d.

A description of the Developer's schedule for completion of all components of the Project with dates of availability for occupancy.

e.

Any restraints on the transfer of the purchaser's interest in its Timeshare interest held by the Applicant.

f.

Notice of any liens, title defects or encumbrances on or affecting the title to the Timeshare Estates or any other part of the Project and, if there are encumbrances or liens, a statement as to whether, when and how they will be removed.

g.

Notice of any pending or anticipated legal actions that are material to the Timeshare Estates or any other part of the Project of which the Applicant has, or should have, knowledge.

h.

The total financial obligation of the purchaser which shall include, without limitation, the initial price and any additional charges to which the purchaser may be subject in purchasing the Timeshare Estate and the potential obligations resulting from the seller's nonpayment of applicable land transfer excise taxes.

i.

An estimate of the dues, maintenance and management fees, real property taxes, sales taxes, land transfer excise taxes and similar periodic expenses and the method or formula by which they are derived and apportioned, which shall include whether management and maintenance fees are determined by Timeshare interest, unit, time of year or prorated share of the overall management and maintenance costs, or any other means utilized to compute management and maintenance fees.

j.

Notice that all sales are subject to the Town's land transfer excise tax, that the purchaser and seller are jointly and severally obligated to pay the same and that, upon nonpayment, such tax becomes a lien on the purchaser's property.

k.

A statement demonstrating the manner in which management, maintenance and assessment fees will be managed and administered.

l.

A description of any financing offered by the Applicant, if any.

m.

A statement as to any current or expected fees or charges to be paid by Timeshare Estate owners for the use of any facilities related to the Project.

n.

The terms and conditions relative to any warranties provided, including, without limitation, statutory warranties and limitations on the enforcement thereof or on damages.

o.

A statement that the proposed Project and the Applicant have complied with all applicable requirements of Section 12-61-401, et seq., C.R.S., and such rules and regulations promulgated by the Commission applicable to Timeshare Development Projects as contemplated under these Timeshare Development Guidelines.

p.

The extent to which a Timeshare unit may become subject to a tax or other lien arising out of claims against other Timeshare owners of the same Timeshare unit.

q.

The minimum percentage of Timeshare Estates the Applicant will require to be sold before the Applicant will proceed with the completion of the Project.

r.

A description of the management and maintenance to be supplied to the Project, including how and when such services will be provided and the time periods during each calendar year which will be set aside for only maintenance and no occupancy.

s.

How the Project will deal with the problem of a unit not being available to an owner because of a prior occupant holding over and not yielding possession of the unit; and, in the case of a holdover problem, what means are available to discourage and penalize persons who do hold over.

t.

A description of the amenities and recreational facilities that are available for use by the Timeshare Estates owners on a deeded or contractual basis, and whether such amenities and facilities are available on-site or off-site and owned by the Association (or the owners in common) or by a commercial owner. If there are any off-site amenities or facilities that are related to the Project or owned by a commercial owner, these shall also be described, including a summary of any fees that Timeshare interest owners will be required to pay to use those off-site amenities or facilities or amenities or facilities not owned by the Association.

u.

A statement describing the number of persons who can occupy a unit at any one (1) time and what those limitations are for each unit in the Project. Said requirement must meet the State's occupancy requirements.

v.

For any Timeshare Development that is a conversion of an existing property, a statement shall be provided by the Applicant, based on a report prepared by an independent architect or engineer licensed by the State, describing the present condition of all structural components and mechanical and electrical installations material to the use and enjoyment of the Project and the differences between said conditions and their compliance with current life-safety standards or requirements contained in the most currently adopted building, fire, health and safety codes upon completion of the conversion of the Project. The statement shall also provide a list of any outstanding notices of uncured violations of building codes or other municipal regulations, together with the estimated cost of curing those violations.

w.

A statement by the Applicant of the expected useful life of each item reported in Subparagraph v. above.

To the extent that these Timeshare Development Guidelines require that the Timeshare Disclosure Statement contain a disclosure that is duplicative of a disclosure required by the Commission, the Applicant may reference such disclosure to the Commission in the Timeshare Disclosure Statement by referring to the applicable provisions thereof, it being the Town's intent to not require the Applicant to submit duplicative disclosures to the Town and the Commission. Notwithstanding the foregoing, the burden of proof shall be on the Applicant to demonstrate to the satisfaction of the Town that a disclosure required in the Timeshare Disclosure Statement is duplicative of a Commission-required disclosure.

(3)

Fiscal Impact Study. In the case of a conversion of an existing property into a Timeshare Development Project, the Project shall be required to demonstrate that the proposed conversion will not have a negative tax consequence to the Town. In order to demonstrate the tax consequences of the Project, the Applicant shall prepare a detailed Fiscal Impact Study thereof. The Fiscal Impact Study shall contain at least the following comparisons between the existing operation and the proposed converted Project:

a.

A summary of the sales taxes paid to the Town for the rental of units during the prior five (5) years of its operation. If the subject property stopped renting rooms prior to the time of submission of the Application, then the summary shall reflect the final five (5) years that the subject property was in operation. The summary of past taxes paid shall be compared to a projection of the sales taxes the proposed Project will pay to the Town over the first five (5) years of its operation. As part of this projection, the Applicant shall specify the number of nights that the Applicant anticipates each unit will be available for daily rental to visitors (that is, the annual number of nights when the unit will not be occupied by the owner or the owner's guests), the expected visitor occupancy rate for these units, the expected average daily cost to rent the unit and the resulting amount of sales tax that will be paid to the Town.

b.

An estimation of the land transfer excise taxes that will be paid to the Town for Timeshare Estates as they are sold. If an actual sale of a Timeshare Estate has occurred within the last twelve (12) months, then the real estate taxes paid for that sale thereof shall be used. This estimation shall be compared to a projection of the land transfer excise taxes the proposed Project will pay to the Town over the first five (5) years of its operation. This projection shall include a statement or the expected sales prices for the Timeshare Estates and the applicable tax rate that will be applied to each sale.

c.

A summary of the Town portion of the property taxes paid for the property for the prior five (5) years of its operation and a projection of the property taxes the proposed Project will pay to the Town over the first five (5) years of its operation. This projection shall include a statement of the expected value that will be assigned to the property and the Timeshare interests by the Tax Assessor and the applicable tax rate.

d.

Such other information that the Applicant believes is relevant to the Town understanding the tax consequences of the proposed Project. For example, the Applicant may provide information demonstrating there will be secondary or indirect tax benefits to the Town from the occupancy of the units in terms of increased retail sales and other economic activity in the community as compared to the existing uses of the property. The Applicant shall be expected to prove definitively why the Timeshare units would cause such economic advantages that would not be achieved by a traditional Hotel or Lodge or Motel. Any such additional information provided shall compare the taxes paid during the prior five (5) years of the property's operation to the first five (5) years of the proposed Project's operation.

e.

If the Fiscal Impact Study demonstrates there will be an annual tax loss to the Town from the conversion of an existing property to a Timeshare Development in any of the specific tax categories (e.g., property tax, sales tax, land transfer excise tax), then the Applicant shall be required to propose a mitigation program that offsets the negative consequences. Analysis of the Fiscal Impact Study shall compare existing tax revenues for a lodging property with anticipated tax revenues. The accepted mitigation program shall be documented in the CC&Rs and shall be complied with for the life of the Project, unless amended earlier as permitted hereunder.

(4)

Management and Maintenance Plan; taxes. The Management and Maintenance Plan shall demonstrate how the Project will be appropriately managed and maintained in a manner that will be both stable and continuous for the life of the Project. This shall include an identification of when and how maintenance will be provided and shall also address, at a minimum, the following requirements:

a.

A fair procedure shall be established for the Timeshare Estate owners to review and approve any fee increases which may be made throughout the life of the Project to provide assurance and protection to Timeshare Estate owners that all fees will be applied and used appropriately.

b.

The Applicant shall also demonstrate that there will be a reserve fund of not less than three (3) months of the costs and expenses associated with the management and maintenance of the Project to provide funds to properly manage and maintain the Project by the Association throughout its lifetime.

c.

The management and maintenance agent responsible for the Project shall acquire a business license, and each such designated agent shall provide the Town with said agent's name, address and phone number. Said agent and the Association shall be responsible to keep all information in the Management and Maintenance Plan, the management and maintenance agreement and any other records or other matters addressed in Sections 16-7-150 and 16-7-160 of this Article current and up to date. Each designated management agent shall have a local business office within the Town.

d.

A reasonable amount of time shall be allocated periodically to the performance of routine maintenance to the Project.

e.

The management and maintenance agreement shall contain the following, at a minimum:

1.

The Association shall designate a managing agent or officer;

2.

An up-to-date copy of said agreement shall be kept on file at the Project and shall be available for review by the Town during normal business hours;

3.

In the event the managing agent is terminated, a new managing agent shall be designated as soon as possible by the Association without interruption in services to the owners;

4.

The Association shall notify the Town of any change in its managing agent or the management and maintenance agreement within thirty (30) days of such change and provide a copy of any changes of the maintenance and management agreement on file with the Town; and

5.

The management and maintenance agreement shall specify the managing agent's duties and responsibilities to manage and maintain the Project.

f.

Regarding the payment of sales and transfer excise taxes:

1.

The Association shall acquire and maintain a Town sales tax license. The Association shall use best efforts to collect Town sales tax, and in connection with such collection efforts, shall prepare and file sales tax returns and remit to the Town of sales taxes, for rentals or lodging services of the physical units in the Project, irrespective of how such units are rented and by whom. The Association shall keep and maintain suitable records of rentals or lodging services relative to the use of the units. Such records shall be available for audit by the Town during normal business hours in accordance with Chapter 4, Article 2 of this Code.

2.

Regardless of the Association's responsibilities relative to the remittance of sales taxes as described in Subparagraph 1. above, each owner of a Timeshare Estate shall ultimately be responsible to the Town for the timely payment of sales tax to the Town on rentals and lodging services provided in connection with his or her unit, including, without limitation, those provided on a private basis or otherwise separate from the Project's managing agent and/or reservation system. The Association shall require that each owner keep and maintain suitable records of rentals or lodging services relative to the use of his or her unit on such a basis and shall require that the owner provide such records to the Association no less frequently than annually.

3.

Before the Association will recognize a purchaser of a Timeshare Estate as a member in good standing with the Association, the new member must provide proof of payment of the Town's land transfer excise tax (such as a tax report made to the Town Manager, collection report of the transfer closing agent or notation by the County Clerk and Recorder) or proof of the Town's approval of a certificate of exemption. The Association will maintain all proof of payment or certificates of exemption for at least three (3) years after the transfer date and shall make such records available for the Town's inspection during normal business hours upon reasonable request.

The CC&Rs shall contain assurances that the terms and conditions of this Paragraph shall be complied with for the life of the Project, unless earlier amended as provided hereunder. In connection therewith, the management and maintenance company and the Association shall submit to periodic inspections, compliance reviews and reporting programs.

(5)

Marketing and Sales Plan. The marketing and sale of Timeshare Estates shall be governed by the provisions of Section 12-61-401, et seq., C.R.S. The marketing and sales plan for the Project shall demonstrate compliance therewith, as well as the following:

a.

The following marketing and sales practices for a Timeshare Development Project shall not be permitted:

1.

The solicitation of prospective purchasers of Timeshare interests on any street, mall or other public property or facility; and

2.

Any unethical sales and marketing practices that tend to mislead potential purchasers.

b.

Giving of gifts to encourage potential purchasers to attend a sales presentation or to visit a Project is permitted, provided that the gift or otherwise is reflective of the local Crested Butte economy. For example, and not by way of limitation, gifts for travel to or accommodations in Crested Butte, restaurants in Crested Butte and local attractions (e.g., area ski passes, local concert tickets, regional rafting trips, etc.) are permitted. Gifts that have no relationship to the local Crested Butte area or economy are not permitted. The following gifts are also not permitted:

1.

Any gift for which an accurate description relative to the Project is not given;

2.

Any gift package for which notice is not given to the prospective purchaser that the purchaser will be required to attend a sales presentation as a condition of receiving the gifts; or

3.

Any gift package for which the printed announcement or the requirement to attend a sales presentation is in smaller type face than the information on the gift being offered.

c.

Before transfer of a Timeshare Estate to a perspective purchaser, the Applicant or any other seller of a Timeshare Estate shall provide the intended transferee with a copy of the Timeshare Disclosure Statement and any amendments thereto. Conveyance of a Timeshare Estate shall be subject to the Timeshare Instruments.

d.

Without limiting any other right or remedy the Town may have at law or in equity, upon deviation from an approved Marketing and Sales Plan, the Town shall have the right to enjoin the sales and marketing techniques thereof.

The Applicant shall submit the Project to periodic compliance reviews to ensure the Project's compliance with the foregoing requirements.

(6)

Upgrading Plan.

a.

In the case of a conversion of an existing property into a Timeshare Development Project, the Upgrading Plan shall demonstrate that the existing property that is proposed to be converted to a Timeshare Development Project shall be physically upgraded and modernized in a manner that creates a Timeshare Development Project and that embodies the standards for acceptable Timeshare Development Projects under these Timeshare Development Guidelines. Further, the Upgrading Plan shall establish that the project will conform with all current life safety standards or requirements contained in the most currently adopted building, fire, health and safety codes. The extent of the upgrading shall be determined as part of the conditional use permit approval considering the condition of the existing facilities, with the goal of making the Project compatible in character with surrounding properties and to extend the useful life of the existing structures. No sale of any Timeshare Estate shall be closed until a certificate of occupancy has been issued for the subject property.

b.

The Applicant shall demonstrate in the Upgrading Plan that the existing declaration of real covenants, conditions and restrictions encumbering the property that is the subject of a conversion to a Timeshare Development Project permit Timesharing and that one hundred percent (100%) of the owners of the condominiums therein have approved Timesharing of the subject property.

(7)

CC&Rs.

a.

The CC&Rs shall comply with Section 38-33.3-101, et seq., C.R.S., and Article 12 of this Chapter.

b.

The CC&Rs shall include provisions addressing those assurances and requirements mandated as part of the Timeshare Use Plan, Fiscal Impact Study, Management and Maintenance Plan and such other requirements as specified by the Town to be included in the CC&Rs in the conditional use approval for Timeshare Development and by these Timeshare Development Guidelines. Such provisions shall encumber the Timeshare Development Project for the life of the Project unless and until amended or modified as permitted under Section 16-7-150 of this Article and shall run with the land. The CC&Rs shall further include a statement to the effect that any amendment or modification of the foregoing sections shall require prior approval of the Town as provided in these Timeshare Development Guidelines.

c.

The CC&Rs shall include the following:

1.

Any restrictions on the use, occupancy, alteration or alienation of Timeshare Estates;

2.

The ultimate responsibility for management and maintenance of the Project shall reside with the Association; and

3.

Any other matters that the Applicant or the Town deems reasonably necessary or relevant to the Timeshare Development Project and the granting of the conditional use in connection therewith.

d.

The CC&Rs shall contain requirements that:

1.

The rental or provision of lodging services in any unit in the Project shall be subject to the Town's sales tax;

2.

The Association shall collect Town sales tax, prepare and file sales tax returns and remit to the Town sales tax payments for rentals or lodging services of the physical units in the Project, and, in this regard, the Association shall keep and maintain suitable records of rentals or lodging services relative to the use of the units irrespective of how such units are rented and by whom; and

3.

Regardless of the Association's responsibilities relative to the remittance of sales taxes as described in the preceding Subparagraph, each owner of a Timeshare Estate shall be responsible to the Town for the timely payment of sales tax to the Town on rentals and lodging services provided in connection with his or her unit on a private basis or otherwise separate from the Project's managing agent and/or reservation system, and, in this regard, each owner shall keep and maintain suitable records of rentals or lodging services relative to the use of his or her unit on such a basis.

e.

The CC&Rs shall contain adequate assurances that the transferor of a Timeshare Estate shall provide to the Association proof of payment or exemption from payment of all land transfer excise taxes to the Town upon the transfer of a Timeshare Estate. In connection therewith, the CC&Rs shall contain a provision that makes the purchaser of a Timeshare interest obligated to pay all unpaid land transfer excise taxes and that, upon nonpayment, such tax becomes a lien on the subject property.

f.

The CC&Rs shall contain provisions permitting Timesharing.

g.

The CC&Rs shall contain a provision relative to the service of process in connection with any unit that complies with the requirements of Paragraph 16-12-60(4) of this Chapter.

h.

Where the Town has required that certain provisions be included in the CC&Rs and, where proper, such provisions would more appropriately, in the opinion of the Director, be included in the conditional use approval for Timeshare Development instead, such provisions may be included in said conditional use approval in lieu upon the request of the applicant and approval of the Director.

(8)

Use Plan Regulations. A draft of the Use Plan Regulations governing, without limitation, the reservation, use, exchange and occupancy of the physical units divided into Timeshare interests in the Timeshare Development Project. The Use Plan Regulations may be incorporated in the CC&Rs at the Applicant's election, but in all cases shall be consistent with the Timeshare Use Plan on file with the Town and shall be recorded in the office of the County Clerk and Recorder as one (1) of the Timeshare instruments.

(9)

Condominium Plat. A draft of the plat.

(Ord. 8 §4, 2008)

Sec. 16-7-90. - Parking, tap fee requirements.

(a)

The parking requirements for Timeshare Development Projects shall be calculated by applying the parking standards for Hotel or Lodge uses. The parking requirements shall be calculated based on the maximum number of proposed lock-out rooms or keys in the Project.

(b)

The owner of a Timeshare Estate shall be prohibited from storing a vehicle in a parking space on-site when said owner is not using a unit. The CC&Rs shall contain adequate assurances that this requirement shall be complied with for the life of the Project, unless amended earlier as permitted hereunder.

(c)

To the extent that a Project includes one (1) or more uses, the parking requirements shall be calculated by applying the parking requirements applicable to said uses as further delineated in this Chapter and Chapter 17 of this Code.

(d)

The Applicant shall pay tap fees under the Code at a rate that is the greater of that applicable to Residential Units or Hotel or lodge Units.

(Ord. 8 §4, 2008)

Sec. 16-7-100. - Miscellaneous requirements.

In addition to the application and the associated submittals demonstrating compliance with the review criteria set forth in Section 16-7-70 of this Article, the Project must also satisfy the following requirements, if applicable:

(1)

If the Project requires approval by the Board of one (1) or more Planned Unit Developments, the Project must comply with the requirements applicable to Planned Unit Developments set forth in Article 6, Division 4 of this Chapter.

(2)

If the Project requires Board approval of one (1) or more conditional uses (i.e., in addition to the conditional use approval required for a Timeshare Development Project), the Project must comply with the conditional use requirements applicable thereto set forth in Articles 8 and 22 of this Chapter.

(3)

Where any other use is combined with Timeshare Development, such use shall comply separately with the requirements of the underlying zone district contained in this Chapter and Chapter 17 of this Code.

(4)

The Applicant for a Timeshare Development Project shall pay the established fees for any conditional use permits. Such fees shall be in addition to all costs and expenses reasonably incurred by the Town in connection with the review, approval and prosecution of the Application for Timeshare Development by the Town.

(Ord. 8 §4, 2008)

Sec. 16-7-110. - Director approval, disapproval of application.

(a)

Upon submission of the Application to the Director, the Director shall review the Application and associated submittals within sixty (60) days of their submission and determine if the same are complete and comply with these Timeshare Development Guidelines.

(b)

If the Director has determined that the Application is complete and meets the requirements of these Timeshare Development Guidelines, the Director shall refer the Application to the Board for its review and approval pursuant to Articles 8 and 22 of this Chapter within sixty (60) days of the Application's submission, subject to Section 16-7-120 of this Article. As part of the Director's referral of the Application, the Director shall provide a staff report which shall include, without limitation, feedback and recommendations as to the feasibility of the Project and any potential issues that the Director determines are important or relevant to the Project and its approval or disapproval as a conditional use. The application shall be placed on the Board's agenda for its review in accordance with Articles 8 and 22.

(c)

In the event that the Director finds that the Application is incomplete or fails to meet the requirements of these Timeshare Development Guidelines, the Director shall return the Application to the Applicant, along with a written response outlining in reasonable detail the reasons for his or her findings, within sixty (60) days of the Application's submission. Upon correction of those issues identified by the Director, the Applicant may resubmit the Application incorporating such corrections. The Applicant shall pay all costs and expenses of the Town in connection with the Town's review and approval of the resubmitted Application. Upon resubmission, the process described in this Section shall again be applied to the amended application's review and approval or disapproval.

(d)

The Director's incompleteness determination shall not be subject to appeal by the Board pursuant to Article 22 of this Chapter.

(Ord. 8 §4, 2008; Ord. 4 §1, 2009)

Sec. 16-7-120. - Concurrent review of conditional use and Planned Unit Development approvals with review of Application.

The Application may be submitted by the Applicant for compliance review by the Director concurrently with review of any other application for a conditional use or Planned Unit Development by the Board. The Director may find the Application to be complete before such other conditional use or Planned Unit Development approvals have been granted by the Board; however, the Director may not refer the Application to the Board for approval of the conditional use for Timeshare Development until such time as the Board has approved such other conditional uses or Planned Unit Developments, as applicable; or, at the Director's discretion, the Director may refer the Application for approval of the conditional use Timeshare Development conditional upon the approval of such other conditional use or Planned Unit Developments.

(Ord. 8 §4, 2008)

Sec. 16-7-130. - Condominium plat, CC&Rs approval by Town Council.

Once the Board has granted the conditional use for Timeshare Development and the Director has issued a temporary certificate of occupancy, the final, executable version of the plat and the CC&Rs shall be submitted by the applicant to the Director and the Town Attorney for review and approval by the Town Council in accordance with Article 12 of this Chapter.

(Ord. 8 §4, 2008)

Sec. 16-7-140. - Recordation of Timeshare Instruments.

Upon approval of the conditional use for Timeshare Development by the Board and execution of the same by the Town Council, and upon approval by the Town Council of the final plat and CC&Rs executed by the Applicant, the Town Council, having executed the plat and the conditional use for Timeshare Development, shall authorize the Applicant's delivery and recordation of the final Timeshare Instruments with the Office of the County Clerk and Recorder. The Applicant thereafter shall record the same within five (5) business days, failing which the Town Council's conditional use approval shall be null and void. The Town Council shall order the Town Clerk to concurrently cause the conditional use approval for Timeshare Development to be recorded along with the Timeshare Development Instruments.

(Ord. 8 §4, 2008)

Sec. 16-7-150. - Continuing obligation regarding updating and filing.

The Association shall have a continuing obligation to update the Application, any submittals delivered in connection therewith and any final, recorded Timeshare instruments and to timely file with the Director (filing with the Office of the County Clerk and Recorder not being deemed sufficient for this filing requirement with the Town) all amendments to the same. Such amendments shall comply with the following requirements:

(1)

The Association and not the individual Timeshare Estate owners shall have the continuing responsibility to submit to the Director any amendments to the Timeshare instruments and any other components of the Application and associated submittals that would alter any condition imposed by the Town or materially alter any prior representation made by the Applicant in the application and associated submittals to obtain approval of the Project. Once the Association has been formed, the Town shall not accept any amendments for review without prior approval thereof by the Association.

(2)

No amendment that materially alters any component of the Application or associated submittals or the Timeshare instruments shall be effective unless approved and accepted in advance by the Director, such unapproved and unaccepted amendments hereby being made null and void.

(3)

All amendments shall be initially submitted for review by the Director, who shall have authority to either approve a proposed amendment that makes a material change to any component of or submittal under the application or Timeshare Instrument as in compliance with these Timeshare Development Guidelines or disapprove such amendment as not in compliance herewith. The Director shall review and render a decision on such proposed amendment within sixty (60) days of its submission thereto.

(4)

Any such amendment may be referred by the Director to the Board if the Director determines that the amendment proposes changes to the Project that, on balance, had they been submitted at the time of the initial approval of the Timeshare Development conditional use, might have caused the Board to impose additional conditions or might have been grounds for a denial of the conditional use for Timeshare Development. The Board's review of such amendment shall be in accordance with Articles 8 and 22 of this Chapter.

(5)

Within fifteen (15) days after the Director's decision on a proposed amendment, the Applicant or the Association, as the case may be, may request a reconsideration by the Board of said Director's decision. The Board shall reconsider the Director's decision in accordance with Articles 8 and 22 of this Chapter.

(Ord. 8 §4, 2008)

Sec. 16-7-160. - Reporting requirements; compliance reviews; inspections.

(a)

Without limiting the requirements of Section 16-7-150 above, the Association shall submit to the Director, on an annual basis no later than March 1 of each calendar year, a report detailing the following:

(1)

Monthly occupancy rates delineating the amount of use of the Project by owners, their guests and exchange participants, and the amount of use by the general public or rental guests;

(2)

Sales tax generated by Timeshare Estate and unit and other transactions in the Project, including a description of the source of generation of such taxes;

(3)

Average room rates charged, broken down by month;

(4)

The management and maintenance agreement, unless the manager is engaged as an employee of the Association;

(5)

The Association's managing and maintenance entity for the Project;

(6)

All managing entities involved in the Project and the specific physical units divided into Timeshare Interests that said entities manage;

(7)

Transfers of ownership of Timeshare Estates, including the dates of such transfers;

(8)

Timeshare Estates owned by the Applicant;

(9)

Reserve balances for management and maintenance;

(10)

Annual Budget;

(11)

A statement that all sales taxes required to be paid for the Project have been collected and paid to the Town in connection with the Project for the preceding year;

(12)

Improvements, upgrades and alterations made to the Project; and

(13)

Changes and amendments to the Application and any associated submittals and the Timeshare Instruments.

(b)

After the conclusion of the fifth year following the conditional use approval for a Timeshare Development Project (inclusive of any material amendments thereto), the Association may apply to the Director for a waiver or one (1) or more the foregoing reporting requirements/ submittals. The Director may waive the requested reporting requirements/submittals only for good cause shown, the burden of proof of which shall be on the Association.

(c)

In addition to the reporting requirements herein set forth, the Association and the Applicant may be required to submit to periodic compliance reviews conducted by the Town to confirm the Association and the Applicant's ongoing compliance with these Timeshare Development Guidelines and the Timesharing conditional use approval for the Project. Such compliance reviews may be conducted no more often than annually, upon reasonable advanced notice and during normal business hours.

(d)

The Association and the Applicant may be required to submit the Project to periodic physical inspections conducted by the Town to confirm the Project's ongoing compliance with these Timeshare Development Guidelines and the conditional use approvals for the Project. Such inspections may be conducted no more than twice annually, upon reasonable advanced notice and during normal business hours.

(Ord. 8 §4, 2008)

Sec. 16-7-170. - Protection of certain records.

Pursuant to Section 24-72-204(3)(a)(IV), C.R.S., the Town shall use reasonable efforts to protect the reporting records submitted to the Town pursuant to Paragraphs 16-7-160(a)(1), (3), (4), (7) and (8) above. If a request for inspection of any of said records is filed with the Town under the Colorado Open Records Law, codified at Section 24-72-201, et seq., C.R.S., or under any like federal law, the Town shall deny the request and notify the Association and/or the Applicant, as the case may be, of its having been made. If an action is filed against the Town in any court to compel inspection or disclosure of any of such records, the Town shall notify the Association and/or the Applicant and shall permit the same to participate in such action to protect the contents of said records from inspection or disclosure at the sole cost and expense of the Association and/or the Applicant. Notwithstanding anything contained herein or in Section 24-72-201, et seq., C.R.S., to the contrary, the Town shall have no obligation or liability to expend its funds or resources to defend against such action, and shall have no liability hereunder for complying with any final, nonappealable order of the court entered in such action. Nothing contained herein is intended to or shall limit the tax information confidentiality requirements set forth in Section 4-2-230 of this Code.

(Ord. 8 §4, 2008)

Sec. 16-7-180. - Prohibited uses and practices.

It shall be unlawful for any person to engage in any of the following practices in connection with any Timeshare Development Project:

(1)

Intentional misrepresentation of any matter contained in the Application or associated submittals for Timeshare Development, whether to the Town or to any third party;

(2)

Violating any requirement of these Timeshare Development Guidelines;

(3)

The act of operating any Timeshare Development Project in the Town without first obtaining a business license in accordance with the Town's standard business licensing procedures; and/or

(4)

Acting in any manner to intentionally circumvent the terms, conditions and requirements of these Timeshare Development Guidelines.

(Ord. 8 §4, 2008)

Sec. 16-7-190. - Remedies for noncompliance.

In addition to any and all remedies provided by law, the Town shall have the following remedies for noncompliance with these Timeshare Development Guidelines:

(1)

The Town may institute an injunction, mandamus, abatement or other appropriate action or proceeding to prevent or enjoin a use, occupancy or conveyance relating to a Timeshare Development Project or any portion thereof or to enjoin any property owner or Applicant from selling, agreeing to sell, offering to sell or otherwise conveying a Timeshare Estate without full compliance with these Timeshare Development Guidelines and receipt of all approvals required herein.

(2)

The Board may withdraw any approval of a Project or require certain corrective measures be taken following the determination that information provided by the Applicant, or by anyone on his or her behalf, on which a decision in granting the Timeshare Development conditional use was based, was materially false or inaccurate. The Town's rights and remedies in connection with such materially false or inaccurate information shall be only as against the Applicant and his or her respective assignees, and shall not apply to individuals who have purchased units from the Applicant, unless such individuals actively participated in providing such false or inaccurate information or had actual knowledge thereof. The Town Manager shall cause written notice to be served on the Applicant and his or her respective assignees, setting out a clear and concise statement of the alleged false or inaccurate information provided by the Applicant, or anyone on his or her behalf, directing the Applicant to appear at a time certain for a hearing before the Board not less than ten (10) days or more than thirty (30) days after the date of service of notice. The Board shall determine at the hearing the nature and extent of the alleged false or inaccurate information and shall have power, on good cause being shown, to withdraw any conditional use approval or require that certain corrective measures be taken in the event it finds that the allegedly false or inaccurate information is indeed materially false or inaccurate in any regard and, had the correct information been supplied at the time of initial approval, the outcome could have been different. Withdrawal of approval or imposition of corrective requirements shall not, however, be an exclusive remedy, and any and all remedies provided by law and in equity may be exercised by the Town cumulatively and concurrently.

(3)

Nothing contained herein is intended to or shall limit, restrict or otherwise abrogate the Town's ability to pursue all rights and remedies of the Town at law and in equity to collect any unpaid land transfer excise tax from the seller and/or the purchaser of a Timeshare interest.

(4)

In addition to any rights and remedies provided for specifically in these Timeshare Development Guidelines, the Town shall have all rights and remedies available at law and in equity to enforce the terms, conditions and provisions of hereof, the same being cumulative and concurrent.

(5)

In the event that any person creates, operates, sells or otherwise deals in a Timeshare Development Project, or any interest therein, in violation of the requirements of these Timeshare Development Guidelines and Article 8 of this Chapter, said offending party and its offense shall be subject to the violation and penalty provisions set forth in Section 16-24-20 of this Chapter.

(Ord. 8 §4, 2008; Ord. 4 §1, 2009)