The article criticizes Colorado's government plan to buy and renovate The Stanley Hotel for nearly $500 million, arguing that it oversteps the state's role in economic development and historic preservation. It also criticizes a proposed tax credit for the Sundance Film Festival, calling it an unnecessary economic arms race.
Estes Park’s Stanley Hotel builds on its reputation as the inspiration behind Stephen King’s “The Shining.” The state of Colorado will soon own the hotel under a nearly $500 million deal to buy and rennovate the property. Colorado’s government should not be in the hotel and hospitality business. The Stanley Hotel is uniquely Coloradan.
We can see the writing on the wall with The Stanley Hotel. Originally the deal was slightly different but still concerning.was to act as a middleman – a pass-through if you will — that would oversee the purchase and updating of the facility.
We see a vast difference between CECFA taking on the risk of issuing bonds to private schools and charter schools to build or upgrade their campuses, and taking on the risk of operating a hospitality business through a subsidiary. And where does this slippery slope end.
ECONOMIC DEVELOPMENT HISTORIC PRESERVATION THE STANLEY HOTEL SUNDANCE FILM FESTIVAL TAX CREDITS
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