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Council approves sale of Sky High Park parcel and finalizes incentive and easement agreements for proposed Cobblestone hotel
Summary
The city approved a $300,000 sale of about 2.54 acres in Sky High Park to Cobblestone Hotel Development LLC, authorized execution of a previously passed economic development incentive agreement, and approved an ingress-and-egress easement that ties to the hotel project.
The Monte Vista City Council voted to approve the sale of roughly 2.54 acres within the Sky High Park Complex to Cobblestone Hotel Development LLC for $300,000 and to authorize execution of related incentive and easement agreements.
Staff recapped that the council previously approved an incentive resolution in December 2023 but had not executed the agreement. City staff said the final purchase-and-sale contract and the easement language had not changed since the council first saw them and that contingencies required under the contract had been satisfied to the buyers’ and staff’s satisfaction.
City staff read Resolution No. 2025-10, saying the sale price had been verified by an appraiser, and cited Monte Vista municipal code Section 2-8-50 to confirm public-hearing and appraisal requirements were met. The contract includes a clause requiring the buyer and the mayor to sign on the same day to accept the offer and a limitation that the incentive agreement can be assigned only once without further city approval.
A Cobblestone representative on the line described the proposed hotel as a four-story, 62-room Main Street Edition Cobblestone property with a patio, indoor pool and a mix of two-room extended-stay suites and studios. Staff said Cobblestone will work with the city to display historic photographs in the lobby and public areas.
During votes the council recorded affirmative roll calls: Councillor Howard, Councillor Owens, Councillor Watson, Mayor Pro Tem Stagliaff and Mayor Becker all voted aye; the minutes show the motions carried for the sale (resolution 2025-10), execution of the economic development incentive agreement and the ingress-and-egress easement with the hotel LLC.
Why it matters: The sale and associated agreements enable a privately funded hotel project Plaza staff and developers say will support events at Sky High Park and the local economy, provide overnight lodging for tournaments and visitors, and finalize long-pending land disposition and incentive paperwork.
Council directed staff to proceed with signature collection and closing steps and to coordinate any necessary administrative follow-up with title and closing agents.
