Tight schedule to settle Avon suits
May 8, 2012
AVON, Colorado – A dispute between town of Avon and developers of the Village at Avon has taken years to resolve with the parties working on their own. Now there’s a court-ordered schedule.
The town and the Traer Creek Metropolitan District signed a settlement “term sheet” in October of last year. That document set a path to end litigation that began in 2009, and avoided a trial that was set to begin Oct. 31 of last year. By early spring, a settlement was still eluding the parties, so District Judge Tom Moorhead re-set a trial date for April 16.
That new trial date was avoided, in part because Moorhead laid out a schedule by which the parties would resolve various problems, including revisions to the original agreements between the town and the Traer Creek Metropolitan District.
That schedule includes a number of meetings that, in theory, will lead to those town approvals, settling the case in full sometime between August and October.
That’s fast-forward in government time, something town attorney Eric Heil acknowleged as he presented the schedule to Town Council members.
“There’s certainly a lot of pressure to get it done,” Heil said. “But I’m glad the process is starting.”
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But getting the case settled is the first step toward the Village at Avon generating enough revenue to pay its past-due and future bills.
The biggest part of what it will take to further develop the 1,800-acre subdivision is a $9 million, 2 million gallon water tank. A deal to get that tank financed and built was approved last month.
Brandee Caswell, an attorney for BNP Paribas, which holds some of Traer Creek’s original bonds, said that water tank agreement wouldn’t have happened without the Avon Town Council’s willingness to get a deal done.
Caswell also acknowleged that town officials don’t have much time to get the various new agreements approved. But, she added, the current schedule has more opportunity for public comment than the original Village at Avon hearings.
Chris Green, who heads the Avon Planning and Zoning Commission, summed up the task ahead for his group.
“We’re getting a complex package of information, and we’re going to have two public hearings on it. The task we have is to do the best we can to provide our opinions.”