VAIL - The Vail Town Council authorized the $5 million sale of part of its municipal site Tuesday to the Vail Valley Medical Center, Steadman Clinic and Steadman Philippon Research Institute.
The title to the property won't actually transfer until the redevelopment project - a partnership between the town and the medical partners to build both new municipal offices on the site as well as medical offices - goes through the town's development review process and a building permit is ready for issuance, Community Development Director George Ruther told the council Tuesday.
The move was a big step toward the redevelopment, which the town and its medical partners announced last year. The goal is to complete construction in time for the 2015 World Alpine Ski Championships.
Tuesday's ordinance merely authorized the sale, although there will be a future resolution that will address the purchase and sale agreement of the property, Ruther said.
Mayor Andy Daly said the town has gotten many questions about the project and said "there's a lot of enthusiasm for it."
He said the objective for the sale of a portion of the municipal property is to ensure that the hospital and the Steadman Clinic and research institute remain a part of Vail well into the future.