Foothills Mall developer lets bond deadline pass

FORT COLLINS – Slow leasing activity continues to plague the Foothills Mall redevelopment, making tenuous a $53 million public-financing agreement between the city of Fort Collins and developers should interest rates suddenly rise or the project fall behind schedule.

Josh Birks, director of the city’s economic health office, said Tuesday, however, that he doesn’t foresee termination of that agreement at this time, even though a key June 30 deadline has passed.

The Foothills Metropolitan District – a collection of property owners at the mall site, essentially meaning developer Alberta Development Partners LLC – is to issue $72 million in bonds to generate…