The proposal calls for the City to purchase the property, which will allow time for a community visioning process that is currently underway to continue and help ensure both Clayton and the 155-acre property keep serving the residents of Denver.
Clayton's lease with its golf course operator expires at the end of 2018. With declining revenue and increasing costs at the golf course, Clayton began meeting with community stakeholders in 2016 about the financial challenge and to begin a conversation about the future of the property that would generate sufficient revenue for Clayton to continue serving low-income children from Northeast Denver.
Thus far, the community has expressed interest in a range of options, including retail, residential, recreation, parks and open space. During this community dialogue, many residents have asked if the City could be part of the solution. The City has heard the community's input and understands Clayton's financial challenges. The proposed agreement is flexible and allows for consideration of a full spectrum of outcomes.
Clayton's ongoing visioning process will offer more opportunities for public input over the next several months. If the community's vision call for some development on the site, the city would then facilitate a more detailed master planning process to ensure the community's voice informs all future plans.
The proposal will allow the City to purchase the entire property with an immediate $10 million down payment followed by annual lease-to-own payments of $350,000 for 30 years with an early-buyout provision. Of the 155-acre property, approximately 20-25 acres will be sued for a detention area set out by the Platte to Park Hill flood protection and storm water program. Much or all of the detention area would be available for golf, park, open space or similar uses based on the outcome of the community visioning process.
Denver City Council has a formal role in approving the agreement and depending on the outcome of the community visioning process, a master plan. City officials and Clayton expect to present the agreement to Council in early October.