Hotel still in picture at Pan and Fork Mobile Home Park in Basalt
October 15, 2015
The company that co-owns the Pan and Fork Mobile Home Park in Basalt hasn't abandoned a plan to build a hotel but has honored the town government's request to put the proposal on hold, according to its president.
"We're trying to be a cooperative partner with the town," said Michael McVoy, of the Roaring Fork Community Development Corp.
The company and the town teamed in 2011 to buy the Pan and Fork, a 35-space trailer park west of downtown. They paid $3.25 million for the 5.3-acre mobile home park.
The town government envisions developing its part of the site as a park along the Roaring Fork River. It is in the process of relocating residents of the mobile home park and starting work in the river and along the banks to reduce flood risk. The U.S. Army Corps of Engineers approved the river work.
The town is seeking voter approval in the Nov. 5 election to issue $5 million in bonds to speed up the project, which has a total cost greater than $7 million. If voters reject the request, the town will use existing revenue sources over a longer amount of time to fund the work. In neither scenario do town officials intend to raise property taxes to pay off the bonds. They said they will use existing revenues, such as an open space tax.
As part of the agreement with the Roaring Fork Community Development Corp., the town's work will remove the corporation's 2.25 acres from the flood plain and allow it to be developed, according to McVoy. The company has a contract with Presidio Cos., a San Francisco-based development firm with a specialty in hotels. Numerous conditions have to be met, such as the Community Development Corp. securing the zoning and land-use approvals from the town, before the project progresses.
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McVoy said Presidio officials are eager for the town to start review of the hotel and associated commercial property, so they support the bond issuance.
Meanwhile, the town and backers of the bond ballot question have de-emphasized the need for the work to make part of the Pan and Fork site developable. They stress the need to relocate residents out of the floodplain and the construction of a new recreational park. Town officials said the future use of the Pan and Fork should be part of a broader community discussion that looks at Lions Park (where Town Hall sits), the Phillips 66 (which closed after foreclosure) and the current Clark's Market building (which the grocery store will vacate next year).
McVoy said the nonprofit Roaring Fork Community Development Corp. is willing to see what the community wants as long as it results in a plan that's achievable in the shortterm.
"We have the patience to wait a year or two," he said.