Developers submit proposals for Agilent site

LOVELAND – Five companies that responded to a request for development proposals for the former Agilent campus would be willing to take on the project even if the site is not chosen for the Aerospace Clean Energy Manufacturing and Innovation Park, according to Loveland City Manager Bill Cahill.

He did not indicate which of the seven proposals received by the city on Monday were interested beyond the ACE park. Two were submitted by firms based in California – IRG from Downey and Orton from Newport Beach – while Loveland Commercial, McWhinney and Next Generation Holdings LLC, all of Loveland; The Neenan Co. of Fort Collins; and Old Vine/Zing! from Denver also responded.

Cahill said the city sent out the RFP when the Colorado Association of Manufacturers and Technology decided not to specify a developer as part of the ACE bidding process. Loveland submitted the 305-acre Agilent campus with its 812,000-square-feet of building space for consideration – in competition with about three dozen other sites along the Front Range – on Feb. 14. CAMT has said it would like to have a site selected by March 15.

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To help facilitate the deal, Loveland has signed a letter of intent to purchase the campus from Agilent for $5.5 million – approximately its assessed value by Larimer County. But Cahill told the Business Report Daily the city has no intention of owning the property long term and would like to hand it off to a private developer as soon as possible.

“Once CAMT chooses a site, there are 45 days to negotiate the terms,” Cahill explained. “That coincides with the date escrow closes (on the letter of intent), so the city might not even take direct possession.”

“Our ultimate goal is that the property stay in private hands,” Mayor Cecil Gutierrez added.

Some portions of the property will stay with the city, however. Cahill said Loveland will retain the rights to 144 units of Colorado-Big Thompson water for general use and 100 acres of open space that will become part of the recreational trail system connecting city parks on either end of the property.

“That still leaves the campus with more than enough water, and enough space to build another million square feet if they need it,” Cahill said.

After the development proposals have been evaluated by city staff, finalists will be invited for interviews, perhaps as soon as next week, Cahill said. The proposals will be available to the public once confidential financial portions are removed, he added.