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I do not believe the town of Eagle can afford the Eagle River Station development.
According to the financial projections I have observed in the Vail Daily, Eagle taxpayers will have to pay about $3 million a year for 25 years in support of this development. This does not appear to be a fiscally viable project.
The big question I have, is why did the development company (RED Development) purchase this property without any assurance that it would get approved?
Perhaps there is already a deal cut behind closed doors with the town of Eagle Board of Trustees that they will approve this project. If that is a true then the meetings they are conducting are just for show. That is my biggest fear.
Also, if this development gets approved, how long will it be when RED sells the whole project and they are never to be heard from in Eagle, Colo.
Bruce Giese
Eagle
According to the financial projections I have observed in the Vail Daily, Eagle taxpayers will have to pay about $3 million a year for 25 years in support of this development. This does not appear to be a fiscally viable project.
The big question I have, is why did the development company (RED Development) purchase this property without any assurance that it would get approved?
Perhaps there is already a deal cut behind closed doors with the town of Eagle Board of Trustees that they will approve this project. If that is a true then the meetings they are conducting are just for show. That is my biggest fear.
Also, if this development gets approved, how long will it be when RED sells the whole project and they are never to be heard from in Eagle, Colo.
Bruce Giese
Eagle
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