Description
Title: Amends a revenue return agreement with DCG West 1, LLC to add 12 months for a new end date of 7-31-2027 to extend the construction timeline of Building No. 3 as required pursuant to Article 2E of the agreement. No change to agreement capacity, in Council District 11 (OEDEV-202055552/OEDEV-202683230-01).
Summary
The proposed legislation involves an amendment to a revenue return agreement between the City of Denver and DCG West 1, LLC, extending the construction timeline for Building No. 3 of a retail development project anchored by Costco in Far Northeast Denver. The amendment grants an additional 12 months, adjusting the completion date to July 31, 2027, due to delays in tenant attraction, site planning, and permitting. This project is significant as it aims to enhance economic development and provide essential amenities for local residents. The Denver Economic Development & Opportunity agency is the requesting body, and the legislation directly affects stakeholders within a half-mile radius of the South Platte River, specifically in Council District 11.