Gaylord Rockies Hotel Not Keeping Subsidies
Want to get a jump-start on upcoming deals? Meet the major Denver players at one of our upcoming events!
The City of Aurora has decided not to appeal a court decision that will significantly cut the tax incentives the city can provide to the developers of the 1,500-room Gaylord Rockies Hotel. Even so, Aurora Mayor Steve Hogan said the project, which is near Denver International Airport, will go forward. Developer RIDA Development Corp declined to comment on the decision's impact, and in fact it isn't quite clear how much in incentives would be lost (though $121M is commonly quoted). The plan had been to raise sales and lodging taxes in the area housing the Gaylord project, as part of a TIF, but an Adams County court voided the special election that approved the plan. [DBJ]