Early Occupancy Opportunity
Reserve Your Early Occupancy Opportunity at River Run
Now accepting deposits. The first 13 people to complete the deposit process will be assigned priority positions for the lease of a Site in the South Section in the order that their deposits are received – Lot One for the first Depositor, Lot Two for the second Depositor, and so on, and will be assigned a corresponding priority delivery/purchase position for a Home – the first Home for the first depositor, and so on.
South Section Sites 1-13 Schematic
Typical Site Landscape and Hardscape Plan
River Run Full-Buildout Schematic
This Disclosure Statement has three parts.
Part 1 covers the planned River Run Community as a whole.
Part 2 covers the planned development of the first 13 homesites on a portion of the River Run property and the sale of the first 13 homes to satisfy demand for early occupancy.
Part 3 describes the process for making a deposit to gain a priority position to lease one of the first 13 sites and to purchase one of the first 13 homes.
You should carefully review all three parts of this Disclosure Statement before seeking to make a deposit.
Disclosure Statement Part 1 – The planned River Run Community
- River Run Colorado, LLC (“RRC”) will develop the River Run residential community (“River Run”), adjacent to the associated Glenwood Springs West/Colorado River KOA Holiday (the “KOA”), located in the Town of Silt, Garfield County, Colorado.
- River Run, when completed, will have an entrance at its northeast corner off I-70, Exit 97, south frontage road west, and will have landscaping, tree-shaded open space, a community garden, a dog park and access to the Colorado River, the KOA boat ramp and the KOA convenience store.
- River Run, when completed, will include 70 homesites (the “Site” or “Sites”), each approximately 35 feet wide by 72 feet long (2,500 square feet). Each Site will be landscaped, will have a concrete patio with firepit and will accommodate two cars. The Sites will have hookups for electric, water and sewer, as well as conduit for an optional Comcast hookup for cable tv, internet and landline phone service.
- RRC will lease the Sites to tiny home purchasers (the “Homeowner” or “Homeowners”). The initial Site lease will be $750 per month, payable monthly in advance. The monthly rate is guaranteed to remain the same through December 31, 2020, and is subject thereafter to annual adjustment for changes in the Consumer Price Index. The Site lease will be annual and renewable and will entitle the Homeowner to locate a Home on an RRC-designated Site and to hook up to electric, water and sewer utilities, all of which will be separately billed to the Homeowner. The monthly Site lease rate includes community management services and maintenance of the Sites and common areas. RRC will develop a comprehensive set of community rules to assure the comfort and safety of Homeowners. River Run will be pet-friendly.
- The Homes will be built by Sprout Tiny Homes, LLC, of Pueblo, Colorado, and its subcontractor, Champion Homebuilders, Inc. (together, the “Manufacturer”) following the design and specifications developed by RRC (the “Home” or “Homes”). With the exception of the addition of an integrated clothes washer/dryer, the Homes will be substantially the same as the model home displayed at the KOA since Memorial Day weekend 2019, and available for viewing at www.TinyHomesAtRiverRun.com. The Manufacturer will be responsible for delivering each Home to a Site designated by RRC and for blocking, leveling, tying-down and skirting each Home, and for connecting each Home to water, sewer and electric utilities, all subject to final inspection and approval by RRC. The initial purchase price of a Home, including all fees of RRC related to design, specification, inspection and interim financing, will be $92,500. This price is guaranteed through December 31, 2019. The Homes come with a two-year warranty from the Manufacturer.
Disclosure Statement Part 2 – The first 13 Sites and Homes
- RRC’s original development plan for River Run called for developing all 70 Sites at one time, with completion expected in early 2020, and occupancy of the first Homes beginning in the spring of 2020.
- Reaction to the model home displayed at the KOA has been so positive, and RRC has received so many expressions of interest in early occupancy of Homes at River Run, that:
- A. RRC developed a plan to immediately develop a portion of River Run;
- B. RRC sought and received approval from the Town of Silt for development of the first 13 Sites at the south end of the River Run parcel (the “South Section”) with provisional access these sites from the KOA; and
- C. RRC negotiated and signed a contract with the Manufacturer to accelerate production of Homes to be offered to those interested in this Early Occupancy Opportunity.
- 3. With the exception of the addition of an integrated clothes washer/dryer, the 13 Homes that will be available pursuant to this Early Occupancy Opportunity will be substantially the same as the model home displayed at the KOA since Memorial Day weekend 2019, and available for viewing at www.TinyHomesAtRiverRun.com.
- The purchase price for each of the first 13 Homes, including all fees of RRC related to design, specification, inspection and interim financing, will be $92,500.
- RRC believes but cannot guarantee that it will have all 13 South Section sites ready for the placement of Homes and occupancy before the end of November 2019.
- Full landscaping of the South Section may not be completed until the spring 2020.
Disclosure Statement Part 3 – The Deposit Process
- RRC will begin accepting deposits on its website www.TinyHomesAtRiverRun.com on Tuesday morning, July 23, 2019, at 9 am Mountain Daylight Time.
- The first 13 people to complete the deposit process (individually a “Depositor” and collectively the “Depositors”) will be assigned priority positions in the order that their deposits are received for the lease of a Site in the South Section– Lot One for the first Depositor, Lot Two for the second Depositor, and so on, and will be assigned a corresponding priority purchase/delivery position for a Home – the first Home for the first Depositor, and so on.
- The amount of the deposit required is $1,000.00 (the “Deposit”). Deposits will not earn interest.
- A refund of the $1,000 deposit may be requested at any time by a Depositor until seven days following the date on which RRC certifies to Depositor that the Home reserved by Depositor is two weeks from delivery to Silt and that the Site is or will be ready to receive the Home upon delivery (the “Certification Date”). At any time prior to the Certification Date, and up to seven days thereafter, Depositor may request on the website a return of its deposit. Upon receipt by RRC of Depositor’s request for refund of its Deposit, Depositor will lose its status as a Depositor and its priority position for a Site Lease and Home purchase/delivery, and RRC will have no further obligation to Depositor.
- RRC is will provide Depositors with a copy of its Site Lease Agreement and the Home Purchase Contract within one month of receipt of the Deposit and in no event later than the Certification Date.
- If Depositor does not ask for a refund within seven days of the Certification Date, the Deposit becomes non-refundable and will be held by RRC as security for the Site Lease Agreement or as a cancellation fee, as the case may be.
- Coincident with completion of installation of Depositor’s assigned Home on Depositor’s assigned Site, Depositor must sign a Home Purchase Contract and Site Lease Agreement, and failure to do so will result in cancellation of Depositor’s priority position and Depositor’s Deposit will in that event be forfeit to RRC.
- The Home Purchase Contract will require Depositor, upon signing, to reimburse RRC for all progress payments made to that date by RRC to Manufacturer regarding that Home, and failure to do so will result in cancellation of Depositor’s priority positions and forfeiture of the Deposit to RRC.
- After the first 13 Deposits are completed, a wait list not requiring a deposit will be created in the order that interest is registered on the website.
- Upon loss of one or more Depositors’ priority positions, the next name on the list will fill the open spot, and names on the wait list will be offered, in order of priority, the opportunity to provide a Deposit and assume the open spot or spots.
- Prior to execution by Depositor of a Home Purchase Contract and Site Lease Agreement, RRC may, in its sole discretion, return any Deposit to any Depositor and will thereafter have no obligation to the Depositor or Depositors to whom the refunds are made.
- All notifications to RRC or to a Depositor, as well as Deposit payments or returns, must be made pursuant to instructions on the website.