We find ourselves in the middle of one of the greatest wealth transfer periods of all time. Those with wealth must decide whether they want to make transfers, and if they do, they must decide how much, to whom, when and in what structure?
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LONGMONT – PFP Longmont Holdings I LLC has purchased the former Butterball site in south Longmont for $4.46 million, according to a deed filed Monday with the Boulder County Clerk and Recorders Office.
PFP Longmont Holdings I LLC purchased the 27-acre site from Butterball LLC and is working with a development group called 150 Main LLC that wants to partner with the city to redevelop the site, which makes up a good portion of the city’s 1st and Main Station Transit and Revitalization Plan.
Brian Bair, a spokesman for 150 Main LLC provided the Longmont City Council on May 6 with a glimpse of how 150 Main LLC may redevelop what he called a blighted area and a general list of things it needs the city to become involved with to help transform the properties.
Intertwined with the sale and redevelopment is a lawsuit filed by North Carolina-based Butterball LLC, which vacated the turkey plant in 2011. The company has sued the city over its rezoning of the area and was slated to go to trial in April. Butterball is seeking monetary damages from the city, contending that rezoning the property from light industrial to mixed use has adversely affected the company’s chances of finding a buyer. A judge postponed the trial in March, delaying it until after Aug. 1.