The Latest P&S Contract

Just wanted to make it easier for you to find this so you can keep abreast of the negotiations. This, of course, is confidential, especially the amount, as per our contract--so it's IMPERATIVE you don't mention the amount or terms of the deal to anyone as it could blow the whole agreement with Meriwether. The reason is that we have a separate contract with the owner that is part of a proposal to the Town (Harc and P&Z) The full proposal needs to go to the boards for approvals together. If our deal got ahead of the process, it would undermine the process.

Our participation is public record (see P&Z Worksession Proposal Post) so it's OK to start talking about it. In very simple terms, here's a safe narrative.

"Telluride Arts is in the process of finalizing a contract with Meriwether, the owners of the SW Corner on Pacific and Fir Street, to secure and restore the Telluride Transfer Warehouse. In short, the purchase price being offered is well below market value, due to a deed restriction and a partial gift by the owners. The current deal includes restoration of the building by the owners, including stabilizing the walls, adding a floor and utilities, and building a roof. Our vision is to renovate the building and turn it into a community center, with extraordinary, multi-use spaces and a museum style cafe and bar that is regularly open to the public."