HomeMy WebLinkAboutRIVERWALK ANNEXATION & ZONING - 27-09 - MEDIA - CORRESPONDENCE (5)MARKET
Continued from Page 81
il called the proposed r
Members of the councreservoir
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and Riverwalk development an opportunity to enhance
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one of the gateways to Fort Collins.
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"I think this is a great example of compromise," said
council member Aislinn Kottwitz. "I think its going to ben-"
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elit all of Fort Collins and meet all our needs and look to
the future a bit.... I'm really excited about this and look
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forward to seeing it in the future."
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While council member Kelly Ohlsonsaid the Riverwalk
proposal is a good idea, he claimed the reason it is being
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received well is because he and other council members
raised questions when the Riverwalk project concept was
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first discussed by council. - `
"I can't resist the irony that however many months ago
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at least one of us said well see how this plays out, Ohlson
said. "Now everyone -thinks this is a phenomenal thing,
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but it wouldn't have happened if we hadn't asked ques-
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tions."
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_. Before voting in favor of the contract and: proposed,
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reservoir, Ohison asked Stoner to address his plans to sell
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1,303.04 656.79 S&P 500 9
the property to Denver -based Turnkey Development LLC.
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During a ° response that lasted roughly 30 "minutes,
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Stoner the council that Turnkey 1s still moving
assured
forward with the "transit -oriented" development and that
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Turnkey's Rus Hacks taff insists Stoner still be involved in
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the development.
"Rus insists — although I'm a residential developer —
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he in Isis I stay involved because of my passion in this
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effort," Stoner said. -"Something like this does not happen
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`without passion and a lot of enthusiasm. Rus has it; his
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.,..team has it, and I have it" -
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) Mid -Atlantic awaits storm
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lesSThe National Weather Service says the region's second snowstormin less than two months could be "extremely dangerous."
NATION &WORLD /PAGE B3 Saturday, February 6, 2010 tsPAT FERRIER, (970) 224-7742 E - MAIL: BUSINESSNEWSQC0L0RAD0AN.00M
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c uis' ion deal himts
Time, permitting issues terminate initial contract for part of Riverwalk land; effort moving forward
BY D A V 1 D YOUNG
Although the land was
aware of permitting issues
the contract back together again
and getting the site built,"
o a v i d Y o u n g® c o i o r a d o a n. c o m
annexed last fall, the contract
that were difficult for him to
for the city utility department to
Stokes said. "There are no
The Fort Collins City
for 128 acres, of which around
deal with. At his request, we
purchase a water department
guarantees
Council will get a second
80 acres would be used for the
terminated the contract,"
reservoir on the south half of the
Stokes said the city will
opportunity to approve the
reservoir, which the city
Stokes said.
river," Stoner said. "I don't think
work with Denver -based
acquisition of a portion of land
agreed to buy, was terminated
According to Stokes, about
it is a major issue, the delay on
Turnkey Development LLC,
near Harmony Road and
because of time constraints for
80 acres would be used to
the reservoir."
which has been working with
Interstate 25 for a proposed
Federal Emergency Manage-
store between 1,500 and 2,000
The project is scheduled to
Stoner on the project, on the
reservoir after the initial con-
ment Agency permits.
acre-feet of water. An acre-foot
go before City Council on Feb.
acquisition of the reservoir site.
tract was terminated because
The land is located in a flood-
is enough water to meet the
16, when Stokes anticipates a
Stoner said he still owns the
of time constraints and per-
way, said John Stokes, director
annual needs of two or three
quick approval because the
land but intends to sell the prop-
mitting issues.
of natural resources with the
single-family homes.
council is familiar with the
erty to Turnkey, which will then
In August, the City Council
city of Fort Collins, and FEMA
Riverwalk developer Jay
project. From there, it could
sell a portion of it to the city.
unanimously approved a
needs to be involved in the
Stoner said although the ini-
take several years before the
"We will be back on track
$5.8 million contract to buy a
development process.
tial contract was terminated,
project is completed.
again," Stokes said. "I don't
portion of the proposed River-
"Essentially, as we got into
plans to develop the land are
"The contract is really just
think there are any surprises
walk project and the annexation
the due diligence period for
still moving forward.
the beginning of a longer
... we are just working with a
process for the 293-acre plot.
the contract, the seller became
"We are attempting to put
process of getting the permits
different partner."