Denver’s $20 million purchase of Park Hill Golf Course delayed
DENVER — A deal where Denver agreed to purchase the Park Hill Golf Course for nearly $20 million has been put on hold.
The George W. Clayton Trust owns the 155-acre golf course and negotiated a deal to sell land in September.
However, Arcis Golf, the operator, has first right of refusal and has not made a decision whether it will renew its lease, reports BusinessDen, which cited the Denver Post.
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Arcis has a 20-year lease for $700,000 a year that expires at the end of 2018. It has until July 1 to decide.
The city of Denver wants the land for flood protection, and said it will look at other ways it can obtain land at the northeast corner of the Park Hill Golf Course property for storm water detention.
DENVER — A deal where Denver agreed to purchase the Park Hill Golf Course for nearly $20 million has been put on hold.
The George W. Clayton Trust owns the 155-acre golf course and negotiated a deal to sell land in September.
However, Arcis Golf, the operator, has first right of refusal and has not made a decision whether it will renew its lease, reports BusinessDen, which cited the Denver Post.
Arcis has a 20-year lease for $700,000 a year that expires at the end of 2018. It has until July 1 to decide.
The city of Denver wants the land for…
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