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Council advances amendment to redevelopment deal for CU Adventures, swapping a rounds target for a food-and-beverage sales threshold
Summary
The council moved a resolution to amend the redevelopment agreement for CU Adventures in Time & Space (302 N. Broadway), extending the completion date and replacing a rounds-played TIFF metric with a $500,000 annual food-and-beverage sales target for performance payments.
City staff presented a first amendment to the redevelopment agreement for CU Adventures in Time & Space at 302 North Broadway, asking the committee to extend the project completion date (from Sept. 1, 2025 to May 1, 2026) and to revise performance measures tied to TIFF payments.
Olivia Joy of Community Development said staff toured the site and confirmed a soft opening and partial operation; to provide the developer flexibility staff recommended removing the previously agreed rounds-of-play target (the original agreement referenced 31,000 rounds) and instead connecting the city’s performance-based TIFF payments to food-and-beverage sales, with a $500,000 annual minimum target. Under the agreement staff described five annual TIFF payments with the first $42,000 due 30 days after certificate of occupancy and the remaining payments tied to performance.
CU Adventures representatives described soft openings, bartender training and early community turnout; they said the tavern/food-and-beverage side of the operation is fully open and the immersive mini-golf experience will expand in stages. Council members asked for clarification on the TIFF structure and taxation and staff said the mini-golf rounds are ticketed services (not sales-taxable) so the city tied its recovery metric to taxable food-and-beverage revenue.
Council voted to send the resolution amending the redevelopment agreement (Resolution 2026-03-011R) to the regular council agenda.
Why this matters: The amendment preserves the city’s TIFF investment while giving the operator flexibility to open in stages and ensuring the city’s performance payments are tied to taxable food-and-beverage sales that contribute to the city’s revenue stream.
What’s next: Staff will file the amendment packet for the regular council meeting; city and developer will track the $500,000 food-and-beverage sales threshold for future TIFF payments.
