Golden City Council to discuss purchase of 311 10th St. on Aug. 8

Purchase and renovation of future civic center now expected to cost more than $24 million

Posted 7/31/19

The city of Golden has until Aug. 9 to work out a few issues regarding the purchase of the MillerCoors building at 311 10th St. in Golden. The Aug. 9 deadline is to adhere to the expiration of the …

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Golden City Council to discuss purchase of 311 10th St. on Aug. 8

Purchase and renovation of future civic center now expected to cost more than $24 million

Posted

The city of Golden has until Aug. 9 to work out a few issues regarding the purchase of the MillerCoors building at 311 10th St. in Golden.

The Aug. 9 deadline is to adhere to the expiration of the purchase agreement.

Late last year, MillerCoors let the city know that it wanted to get rid of the building, which MillerCoors used for corporate offices. The city, in turn, began to explore the idea of using it as a civic center, which would house government offices and other public and not-for-profit cultural entities such as the Golden History Museum.

The proposed purchase would be for the building, which is about 160,000 square feet, and about 7.2 acres of land. The purchase price is $12.25 million.

On April 11, Golden City Council unanimously approved to go forward with efforts to purchase the building and the property, and in June, Golden City Council approved an ordinance that authorizes the issuance of Certificates of Participation to fund the acquisition and renovation costs. These certificates are not to exceed $24 million, according to city documents.

However, through due diligence evaluations and inspections, it has been discovered that some of the building's current maintenance and design “will increase the overall cost to renovate the building for use as a future civic and cultural center,” states city documents, and “as currently anticipated, these improvements and renovations would exceed the $24 million.”

This is in addition to an issue concerning clearing the title for transfer of the property — permanent easements currently held by MillerCoors would limit the city's future use of the property, states city documents.

City staff continues to negotiate these issues with MillerCoors, and Golden City Council will further discuss the topic during its regular meeting, 6:30 p.m., on Aug. 8. The meeting takes place in city council chambers at 911 10th St. in Golden.

The public may attend the meeting in person; provide comments on GuidingGolden.com, which is the city's public outreach forum online; or send an email to city council at CityCouncil@cityofgolden.net.

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