Published on : Friday, November 17, 2017
After spending the last month in criticism from the state auditor for not being able to monitor Regional Tourism Act projects properly, the Colorado Office of Economic Development asked the representatives from all five projects on Thursday to offer the Colorado Economic Development Commission with the latest update.
At present, though three of the projects are making progress, two are not following the order in terms of the commitments they made to the state Govt. in support of the return for taxpayer.
The managers of a suite of four projects valued at $330 million in Estes Park, Loveland and Windsor, called Go NoCo are just getting around endorsing an intergovernmental agreement two years after approval.
For $86 million, Go NoCo was accepted in RTA incentives in December 2015. However, the representatives defined a slow slog in getting off the ground. Bankers are looking for outdoor water Adventure Park in Loveland in order to raise more equity which has been a struggle so far. A hotel with an indoor water park with no outdoor park won’t move forward in anyway. And the developer of the Peligrande Resort in Windsor is quite keen but is tied up on other work as the five-year clock to start construction ticks away.
Tags: Colorado Tourism