Re-1 school district’s land exchange hits minor snag | PostIndependent.com
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Re-1 school district’s land exchange hits minor snag

John Gardner
Glenwood Springs, CO Colorado

CARBONDALE, Colorado ” Roaring Fork School District Re-1 board members approved a requested extension of the due diligence period from the Town of Carbondale regarding the anticipated land exchange between the two entities.

For about a year the two entities have been in negotiations to exchange the old Carbondale Elementary School and another 2.7 acre parcel of city-owned property near the new Roaring Fork High School. The swap was scheduled to be finalized by the end of July or early August.

The extension allows the Town of Carbondale to complete their “diligent inspection” of the Carbondale Elementary School.



Attorney Larry Green, representing the RFSD, said he received a phone call from Carbondale Town attorney Mark Hamilton on Monday morning requesting the extension. Reasons for the extension, according to Green, were to complete the thorough inspection of the facility and the fact that Hamilton was out of town on vacation when the due diligence period was to end on July 28.

“He indicated that the phase one environment report was not yet completed and there were a couple of other incomplete matters,” Green said via a phone conference with school board members. “Everything was going favorably, but primarily because of his absence from town this week and the fact that things have not been completed, he was asking for an approximate two-week extension of the due diligence deadline.”



The extension will move the due diligence deadline to Aug. 15.

Green said that the extension would not be to extend the closing of the exchange, but only would extend the due diligence deadline where the inspections would need to be completed. By the new deadline of Aug. 15, the Town of Carbondale would either have to commit to buy the property or forfeit the earnest money if they do not proceed to close.

Under the existing contract the closing is scheduled to occur 15 days after either the expiration of the due diligence deadline, or the recording of the necessary plat to create the school as a separate and legally salable parcel.

“(The second) is now going to be the later of the two events,” Green said.

Under the present schedule, Green said, the recording of the necessary plat is not going to occur until probably the first week of September. That will push the closing of the property to occur sometime in mid September, Green estimated.

Contact John Gardner: 384-9114

jgardner@postindependent.com

Post Independent, Glenwood Springs, Colorado CO


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