5:40pm

Wed December 21, 2011
Business

Loveland Profits from ACE Sale

The city of Loveland is one step closer to building out the Aerospace Clean Energy Manufacturing and Innovation Park, or ACE—an effort that would bring more than a thousand high-tech jobs to Northern Colorado.

Loveland finalized sale of the former Agilent technologies campus to a Kentucky-based development firm late yesterday. City manager Bill Cahill says Loveland will retain 130 acres of open space and much of the property’s water rights—which will result in a net profit.

“It’s about $1 million worth of water and probably $800,000 to $900,000 worth of open space,” he said. “Even though we have to offset water with some other obligations we’re taking on, it’s still a great net addition to the community.”

The new owner, Kentucky-based Cumberland and Western Resources LLC will proceed in building out the property, which it plans to call the Rocky Mountain Center for Innovation and Technology.