Fort Collins pauses Remington Oak purchase-and-sale after parking concerns; staff to lean on parking study

Fort Collins city staff told the City Council at a special work session that they will not bring forward a purchase-and-sale agreement with nonprofit developer Housing Catalyst for the Remington Oak surface parking lot, citing new parking data, an updated appraisal and shifts in funding options.

City Deputy Director for Sustainability Services Josh Birx summarized the site's history, saying the city acquired the parcel with GID bond proceeds in 1977 and that the bonds matured in 1996. "Back in February of 2022 and then later in April of 2022, an MOU was approved by council ... that created a partnership between Housing Catalyst and the city of Fort Collins for the entire property," Birx said, adding the MOU required "a 1 for 1 preservation or replacement of the existing parking spaces." He said the MOU allowed termination under a number of circumstances and left each party responsible for its own costs if it ended.

Deputy City Manager Tyler Marr told council the decision not to present a purchase-and-sale agreement followed new information gained while moving from an MOU to drafting an agreement. Marr said an updated appraisal showed the site's value was substantially higher than previously expected and that the city learned the lot's utilization patterns extend into evenings and later hours,…