“Time-sharing”, “time-share” and/or “time-share interest” as permitted and regulated by this section means “interval estate,” “time-share estate,” or “timespan estate” as such are defined in C.R.S. 38-33-110, 1973, as such may be amended from time to time, or any other similar concept of property ownership involving either interval ownership or fractional fee interests as may be determined by the town council. “Time-sharing” shall not include a time-share license or use.