Disclaimer: The information in this narrative was obtained from readily available online resources, which are sometimes inaccurate and typically include disclaimers that they cannot be relied upon. No effort was made to verify the accuracy of the online resources’ reporting with respect to the subject property—this narrative neither resulted from, nor can substitute for, due diligence regarding existing conditions, zoning or regulatory restrictions, land-use entitlements, title conditions, floodplains or hazards, or water rights. No reliance on the information in this narrative for any legal purpose is justified.

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PROPERTY EVALUATION: 26800 HWY 82, OLD SNOWMASS CONOCO

Date: 7/30/2018 Address: 26800 Hwy 82(Snowmass Conoco) Zoning: B-2 General Business Jurisdiction: Pitkin County Area: 1.66 Acres, 72,449sf Parcel ID: 246727202001 - AVALANCHE ASSOCIATES SUB EXEMPTION COMMERCIAL PARCEL Created For: Blake Appleby, Douglas Elliman

Blake:

Please find my initial summary property evaluation below for 26800 Hwy 82.

The existing gas, liquor, and convenience store businesses are the closest option for a significant population area of Pitkin County, and the existing uses reflect that practical reality. The parcel is unique in this regard, and remains one of the very few opportunities for commerce between Basalt and Snowmass Village.

However, the “General Business” zoning allows for a wide array of potential commercial usage opportunities and also allows for some residential – including multi-family – opportunities as well. It is a flexible

underlying zoning type and would serve a buyer looking to diversify the development on this site.

The parcel has phenomenal customer access and a unique location. Additional information is included in the following pages with some notes on the subdivision exemption and other particulars to this parcel.

Kind regards,

Andrea Korber AIA - Principal/Owner, Land+Shelter Architecture and Planning, andi@landandshelter.com, 970.366.1582

Snowmass Conoco Parcel26800 Hwy 82Pitkin County GIS

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Pitkin Maps & More

THIS MAP IS FOR INFORMATIONAL PURPOSES.Pitkin County GIS makes no warranty or guarantee

concerning the completeness, accuracy, or reliabilityof the content represented.

Map Created on 8:36 PM 07/29/18 at http://www.pitkinmapsandmore.com

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State of Colorado

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Disclaimer: The information in this narrative was obtained from readily available online resources, which are sometimes inaccurate and typically include disclaimers that they cannot be relied upon. No effort was made to verify the accuracy of the online resources’ reporting with respect to the subject property—this narrative neither resulted from, nor can substitute for, due diligence regarding existing conditions, zoning or regulatory restrictions, land-use entitlements, title conditions, floodplains or hazards, or water rights. No reliance on the information in this narrative for any legal purpose is justified.

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A plat (book 53 page 48) is provided above showing the 1999 subdivision that created the subject parcel (left) and

the post office parcel (right).

Floor Area:

The underlying zoning allows for 0.36 “Floor Area Ratio”, based on the “lot area”. A lot area calculation requires a survey to be accurate, but it would not include steep slopes or the access easement dedicated to the Post Office to the east. If you reduce the lot size by ~12,000sf (rough estimate) that would leave 65,500sf lot area or 23,580sf in allowable floor area. This is a guesstimate to be reviewed via survey, but in any case - the floor area potential has other practical constraints, like (but not limited to) providing parking on site for the uses proposed.

For nonresidential uses, one parking space per 400sf of commercial space is required. Residential use parking requirements vary with the number of bedrooms and number of units. There is also a minimum lot area required per dwelling unit that would impact any multifamily development on the site:

• 3 bedroom multifamily = 4,000sf /unit • 1 bedroom multifamily = 3,200sf /unit

Disclaimer: The information in this narrative was obtained from readily available online resources, which are sometimes inaccurate and typically include disclaimers that they cannot be relied upon. No effort was made to verify the accuracy of the online resources’ reporting with respect to the subject property—this narrative neither resulted from, nor can substitute for, due diligence regarding existing conditions, zoning or regulatory restrictions, land-use entitlements, title conditions, floodplains or hazards, or water rights. No reliance on the information in this narrative for any legal purpose is justified.

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• Studio multifamily = 2,500sf /unit • Minimum open space = 1,200sf /unit

Existing Conditions:

The existing site development includes a structure with ~6200sf of commercial space in two grade level suites and one second floor storage area and ~800sf of residential space (one two-bedroom unit). The building does not conform to the 200’ setback from the highway. The site is not deep enough to comply with this setback; it is less than 200’ deep overall – and future uses would face this setback challenge. The existing structure was granted a variance to allow an awning to be constructed in recognition of this hardship, (Ordinance 99-27 Setback Variance and Sign variance recorded at 434236). The post office on the neighboring parcel was also granted a variance to be constructed within that setback as well. Future users will need to seek approvals to develop within the setback no matter what occurs on this site. Since the existing structure is existing and non-conforming, it is allowed to remain operating with current uses, but a developer cannot increase the non-conformity. Any change of use would also bring up this issue and new development might not be granted as much leeway as the existing structure, which is approximately 70’ from the edge of highway 82 and literally sitting on the rear property line without any setback.

Subdivision Exemption

The subdivision exemption that created this parcel did not create particular usage or development restrictions per se, but there are also several easements between the neighboring parcel and the subject parcel that would need to be honored or officially revised for any re-development plans. The access road to the post office in particular cuts through a likely site for a significant redevelopment, so a future developer might consider a realignment of that access. Encumbrances on the parcel should be reviewed in a title work review; the following are apparent in the plat notes:

• Water well easement reception#: 433672 • Sewer and septic easement reception#: 433873 • Access easement reception#: 433871 • Leach field easement reception#: 442695 • Subdivision Exemption:

o Resolution 98-126 reception#: 423374 o Resolution 98-25 reception#: 423373 o Amended Plat B53 P48 May 5, 2000

Zone Districts:

The zoning on this parcel is B-2 or “general business”. The zoning intent for this district supports continued commercial uses on the site, and also supports a secondary residential use if it does not conflict or limit the commercial nature of the site. The site may not be a transferrable development right (TDR) sender or receiver (i.e. – the floor area allowance cannot be revised by any future transaction). The land use code for the zone district is excerpted here:

Disclaimer: The information in this narrative was obtained from readily available online resources, which are sometimes inaccurate and typically include disclaimers that they cannot be relied upon. No effort was made to verify the accuracy of the online resources’ reporting with respect to the subject property—this narrative neither resulted from, nor can substitute for, due diligence regarding existing conditions, zoning or regulatory restrictions, land-use entitlements, title conditions, floodplains or hazards, or water rights. No reliance on the information in this narrative for any legal purpose is justified.

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• The B-2 (General Business) zone district is intended to provide for the establishment of commercial and low-intensity, non-polluting industrial uses that do not require or generate high customer traffic volumes and to permit customary accessory uses, including a small portion of the land area in high density, long- term residential dwelling units. Because of the need to preserve the existing inventory of B-2 zone district lands for commercial purposes, residential uses are secondary in priority to commercial uses.

• TDRs may not be severed and sold from lands located in the B-2 zone district. TDRs may not be purchased and used in the B-2 zone district from other zone districts.

• Lands in the B-2 zone district are subject to the GMQS.

Zoning related dimensional requirements are summarized below:

• FAR Max - 0.36 • Setbacks – 200’ from highway 82, 50’ from Snowmass Creek Road (“Collector”), 10’ from rear. Current

Building does not conform to any of these setbacks. • Height maximum is 28’ for the principal use and 20’ for accessory structures.

Scenic View Corridor:

The site is subject to “Scenic View Corridor” review process, and would be required to follow that land use process, which protects the rural, unique nature of Pitkin County’s scenic view corridors. This does not place specific stylistic constraints, but does add to the land use approval process.

GMQS:

In Pitkin County, all new development is subject to a growth management quota system (GMQS). In this case, the existing commercial uses could remain without triggering this process, but any expansion and/or change of use would require a GMQS application process and fees mitigating the “growth”. That translates to fees offsetting new employees that would be generated by any expansion commercial uses on this site. Like the scenic view corridor requirements, this does not create specific architectural constraints, but does add to the land use approval process. Notably: traffic generation would be reviewed in this process. Uses that greatly change the nature of and/or increase the traffic generated to the site may bump up against some approval challenges, but the site has existing traffic that would offset that impact.

Notes on Other Hazards or Restrictions:

The site is mapped low wildfire hazard via Pitkin County graphic information systems (GIS) website. No other hazards were available in the online mapping, but this parcel is located at the tow of a slope, so – like almost any Pitkin County site - avalanche, alluvial fan, and other geological hazards should be studied during due diligence.

Conclusion:

This site offers a convenient location between the commercial centers of Basalt and Snowmass. It has served the Old Snowmass community since before the current zoning existed – and that zoning supports this

Disclaimer: The information in this narrative was obtained from readily available online resources, which are sometimes inaccurate and typically include disclaimers that they cannot be relied upon. No effort was made to verify the accuracy of the online resources’ reporting with respect to the subject property—this narrative neither resulted from, nor can substitute for, due diligence regarding existing conditions, zoning or regulatory restrictions, land-use entitlements, title conditions, floodplains or hazards, or water rights. No reliance on the information in this narrative for any legal purpose is justified.

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continued service. The visibility, location, and flexible zoning of this site are unique selling points in the Roaring Fork Valley corridor.

The above image was created by overlaying of the recorded plat map and aerial photography of the site.

Please call Andrea Korber at Land+Shelter: 970-963-0201 with any land use questions or clarifications.