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Fremont County approves processing of CPACE application for industrial redevelopment; developer says $10 million invested
Summary
The board approved Resolution No. 13 to authorize processing of a CPACE application for 1173 State Highway 120 LLC. Developer Eric Bonik said the project has spent about $10 million so far and expects near-term hiring; the board emphasized this vote authorizes processing only, not final project approval.
Fremont County commissioners voted unanimously to authorize processing of a Colorado Property Assessed Clean Energy (CPACE) application for 1173 State Highway 120 LLC, a step the developer says will help refinance prior investments and fund energy, water and resiliency upgrades.
Developer Eric Bonik told the board the project has invested "upwards about $10 million to bring the facility back online" and said the financing is critical to scale production and hire workers. "We're expecting to onboard about 10 to 15 employees" immediately after the Fourth of July holiday, he said, with a plan to reach "30 to 40 full-time employees" by the end of the year.
What the board approved: The resolution (No. 13) authorizes county staff to continue processing a CPACE application for improvements that include energy-efficiency measures, water-efficiency and resiliency upgrades, and fire suppression and building-envelope work. County counsel and staff repeatedly noted the action authorized processing only; it did not approve use of CPACE funding for the project or any construction or operational changes.
Legal and program context: County officials described CPACE as a Colorado program designed to finance energy- and water-efficiency and resiliency improvements. Commissioners recalled prior county experience of opting in and out of the program and said they had rejoined the program recently to use it as a tool for local economic development.
Vote and next steps: A motion to approve resolution number 13 was moved and seconded and carried on roll call. (The transcript does not record the motionmaker or seconder by name in the public record.) County staff will continue processing the CPACE application; any final financing or contractual action would return to the board for approval when required.
