Loveland looking for new ACE partner

LOVELAND – The city of Loveland is actively looking for a
new development partner to turn the former Agilent campus in south Loveland
into the Aerospace and Clean Energy Manufacturing and Innovation Park.

The city Tuesday sent out requests for developer
proposals that are due by 5 p.m. on Sept. 13.

William Cahill, Loveland city manager, said the city’s
goal is to conduct interviews of possible developers on Sept. 16.

“Our goal is to move quickly to identify the right
partner to help us move forward,” Cahill said in a letter accompanying the
RFP. “We expect to have an ERN (Exclusive Right to Negotiate) before city
council no later than Oct. 4.”

The city had expected to partner with Minneapolis-based
United Properties, which had signed an ERN on June 21. But on Aug. 22, United
Properties bowed out of the partnership.

United Properties President Frank Dutke said the lack of
“available credit tenancy and acceptable financing terms” did not
“appear to be achievable within the required timeframe.”

At the time, Loveland Mayor Cecil Gutierrez said there
were “other interested parties prepared to engage with the city” and
the Colorado Association for Manufacturing and Technology, the state level
partner in the redevelopment of ACE.

Mike Scholl, Loveland’s senior planner in the newly
created department of economic development, said RFPs were mailed to Fort
Collins-based Neenan Co. as well as Loveland-based Loveland Commercial and
McWhinney, three companies that had expressed interest in the project before
United Properties was selected.

Under the terms of the RFP, the developer selected will
have an exclusive right to negotiate with the city for 30 days. A $150,000
deposit will be due upon the developer signing the ERN.

The selected developer will also have to buy the former
Agilent property – now owned by the city – for $5 million on or before Feb. 1.
Scholl said financing of the purchase may be available with a minimum $500,000
down payment.

Scholl said the RFP will be available on the city’s
website for other interested development partners.

“Our goal is just to get the best deal for the
city,” he said.

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