Chenoa pays fire district $150,000 |

Chenoa pays fire district $150,000

Staff Report

Chenoa developers came through on their contractual commitment on Wednesday, paying the Glenwood Springs & Rural Fire Protection District $150,000 to fund three full-time fire district employees.”They have met their contractual obligations for the year,” said Fire Chief Mike Piper.Chenoa is the 5,900-acre golf course community Spring Valley Development Corporation proposed for an area southeast of Glenwood Springs. Lehman Brothers, one of the largest investment banking firms in the United States, financed the project and recently repossessed the property.Spring Valley Development Corporation originally agreed to pay the fire district $1.6 million to build and equip a fire station at the project, plus $150,000 per year to staff the facility.Piper said the fire district renegotiated the contract to let Spring Valley Development Corporation off the hook for the $1.6 million, but not the $150,000 annual payment.

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