Lionshead garage redo may be dead in Vail | VailDaily.com
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Lionshead garage redo may be dead in Vail

Vail Daily staff reportVail, CO Colorado

VAIL, Colorado – The Vail Town Council Tuesday may kill an three-year-old effort to renovate the Lionshead parking garage.The council will vote on ending negotiations between the town and a Texas-based developer, Open Hospitality Partners, whose $900 million project would have brought five-star hotels, shopping and more parking to the aging garage.A letter terminating negotiations has been written by the town’s attorney by the request of the Town Council. The council asked for the letter after an Aug. 4 closed meeting at which the developer’s counter-offer to keep the project alive was rejected.The counter-offer presented by the developer’s representative, Mark Masinter, called for a 15-year commitment to the project by the town with no financial obligation by the developer, the town said Thursday. The town’s proposal had required payments by the developer of $100,000 every six months beginning upon the execution of the option agreement.Discussions have been underway since May 2006 when the town issued a request for proposals and selected the Open Hospitality Partners’ project from among two submissions.The Lionshead parking garage needs a bunch of improvements over the next few years to keep it functional. Some council members recently suggested that the town abandon Masinter’s proposal so it could simply move forward with that maintenance.Additional information, including the draft termination letter and copies of previous correspondence between the town and OHP, are available at:http://www.vailgov.com/release.asp?nr_id=4992&type=0


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