THE PROPOSED CONTRACT ALLOCATES NO VALUE TO DENVER’S DEVELOPMENT RIGHTS, AND INSTEAD SIMPLY GIVES AWAY THIS VALUABLE PROPERTY INTEREST OWNED BY THE TAXPAYERS OF DENVER.
The amount of value being given away is staggering – over $20 million!
The citizens of Denver are entitled to the increase in value of the development rights that have occurred between 1997 and 2017
Proceeds from Future Sales of Property.
(a) Following the Initial Closing Date, and until such date as the ECE
Funding Goal is achieved, the Trust shall be entitled to seventy-five percent (75%) of the Net
Sales Proceeds from any sales of the Property, and the City shall be entitled to twenty-five
percent (25%) of such Net Sales Proceeds. As used herein, “Net Sales Proceeds” shall mean the
gross sale proceeds, less any brokerage commissions and closing costs, but expressly excluding
any attorneys’ fees or other costs incurred by the City or the Trust in connection with any such
sale
The relationship between Denver and Clayton Early Learning (previously known as The George W. Clayton Trust) is a long and complicated one going back many, many decades. Most recently, in 2000 the two parties entered into an “Agency Agreement” that was intended to contain the entire agreement between them concerning Park Hill Golf Course (Para. 17). In essence, what the Agreement does is establish Clayton as an … Continue reading →
