Financial Agreement for the Downtown Hotel and Mixed-Use Development
The public/private partnership between the Downtown Development Authority, the City of Fort Collins, and Corporex Companies is up for review by City Council on August 19th. The proposed financial agreement will define how construction of a new downtown hotel and mixed-use development will be financed. Details of the agreement were released in late July at a Council Work Session.
The development is planned for the current parking lot and Elks building lot on Remington, between Oak and Olive Streets. The City and DDA will finance the construction of an underground and above ground parking areas. City financing of the parking areas is a public contribution to a large privately invested development. Corporex Companies (CPX) will finance construction of the downtown hotel, adjacent office space and residential living spaces. For more information on the project, contact Joe Frank, Advance Planning Director (970) 221-6752.