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ORDINANCE NO. 1567 SERIES 2010 AN ORDINANCE AMENDING TITLE 17 OF THE LOUISVILLE MUNICIPAL CODE CONCERNING THE CREATION OF VESTED PROPERTY RIGHTS WHEREAS, the City of Louisville is a home rule municipal corporation organized under and pursuant to Article XX ofthe Colo:rado Constitution and the Louisville Home Rule Charter; and WHEREAS, by virtue of such authority, and as further authorized by state statutes, including but not limited to c.R.S. ~~ 24-68-103 and 24-68-104, the City has the authority to identify the type or types of site specific development plan approvals within the City that will cause property rights to vest and to enter into development agreements with landowners to provide vested property rights; and WHEREAS, the City Council previously defined site specific development plans to include planned unit development ("PUD") final development plans; and WHEREAS, the City Council by this ordinance desires to define site specific development plans to include PUD preliminary development plans for the purpose of establishment of vested property rights, but only if and to the extent provided in a vested rights agreement approved and executed by City Council; and WHEREAS, the Louisville Planning Commission, after notice by publication and a public hearing, has recommended the City Council approve the amendments to the Louisville Municipal Code set forth in this ordinance; and WHEREAS, City Council has provided notice of a public hearing on said ordinance by publication as provided by law and held a public hearing as provided in said notice; NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE, COLORADO: Section 1. Section 17.28.170.D of the Louisville Municipal Code is hereby amended to read as follows (words to be added are underlined): Sec. 17.28.170. Prellimiinary development plan-Plan review. D. Approval of the application shall constitute approval of the preliminary development plan and shall be valid for one year. A one-year extension of approval time may be applied for in writing to the planning commission. The approval of a preliminary plan shall not result in the creation of any vested property rights except as may be established in a vested rights agreement approved and executed by city council pursuant to section 17.54.090. Such approval shall allow the applicant to proceed to the final development plan stage, subject to the time limits set forth in this subsectionLgr in a vested rights agreement if applicable, and the other requirements of this chapter and title. 1