Loveland gives developer wide berth
firstname.lastname@example.org January 27, 2012
Moreover, provisions in the agreement requiring Cumber-land & Western to develop the property for "technology-related research, development (and) manufacturing" businesses expire after five years.
During that period, any companies that establish themselves at the park must be involved in areas such as aerospace, clean-energy, bioscience or IT.
But at the end of the period, other sorts of companies could make the park their home, with the exception of tattoo parlors, pawnshops, skateboard parks, junkyards and the like. Cumberland & Western also cannot use the property to house and raise animals.
Loveland and Cumberland & Western closed their deal in December. City Manager Bill Cahill said officials have discussed how soon development might begin on the property multiple times, but imposing a deadline on the developer "was not commercially feasible in the sale."
"I think it may have prevented the sale to any party had that been a requirement,"
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