Water Credit Agreement Approved
A water credit agreement between the Town of Firestone and TSG Del Camino Junction, LLC (TSG) was approved during the Wednesday, April 27th Board of Trustees meeting. TSG is under contract to purchase approximately 33 acres of land along the north side of Firestone Boulevard, east of E. I-25 Frontage Road to Weld County Road 9 3/4, and intends to develop the property for a commercial shopping center consisting of approximately 125,000 square foot and 12 or more out parcels of retail, restaurant and service operations.
In the agreement, the Town acting by and through its Water Activity Enterprise, will provide TSG certain incentives in the form of water in order to facilitate the redevelopment of the property with the expectation that the Town's involvement will encourage and accelerate the timing of the redevelopment, thus providing substantial direct and indirect benefits to the Town and the entire community.