S T E A M B O AT
TODAY
WEDNESDAY
JUNE 10, 2009
Steamboat Springs, Colorado
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Vol. 21, No. 138
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Aquarium observer
Celebrating heroes Author T.A. Barron will focus on youth achievements at book talk Page 14
SPORTS
MATT STENSLAND/STAFF
Judy Cullen holds her 10-month-old great-niece Kiley Iacovetto while she points to a fish in the salt water tank in the Children’s Library at Bud Werner Memorial Library. They were at the library Tuesday morning with Kiley’s sister, Makayla, and mother, Lane.
Magic come alive Page 27
Correction The date of a fundraiser to raise money for the Diamond Window Cabin was incorrect in the article “Log building known for window,” on page 2 of Tuesday’s Steamboat Today. The fundraiser is from 11 a.m. to 4 p.m. Sunday at Stagecoach State Park.
City Council insists Steamboat 700 developers assume all risk Tom Ross
PILOT & TODAY STAFF
STEAMBOAT SPRINGS
Risk aversion was on everyone’s mind Tuesday night as City Council and Steamboat 700 developers resumed their slow dance toward annexation. At the end of the evening, council members left little doubt about who could be left holding the bag. If a fiscal stew of property taxes, real estate transfer fees, interest rates and
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■ INDEX Briefs . . . . . . . . .10 Business. . . . . . .18 Classifieds . . . . .34 Colorado. . . . . . .20 Comics . . . . . . . .32 Crossword . . . . .33
Cash questions continue
Happenings . . . . .7 Horoscope . . . . .32 Nation. . . . . . . . .26 Sports. . . . . . . . .27 ViewPoints . . . . . .8 Weather . . . . . . .24
Tuesday night’s Cash 5 numbers: 8-9-16-18-26 Drawings are held Monday through Saturday.
housing absorption rates fails to produce enough revenue to fund $70 million to $80 million of community capital improvements in the project west of Steamboat, the developers will be on the hook. “We choose not to put the city of Steamboat Springs in a position of assuming risk,” Council President Loui Antonucci said. “We can talk about that, but I don’t think our position is going to change.” He made the remarks as
■ WEATHER
Steamboat 700 representatives debuted a financial plan they say would generate sufficient revenue to raise $48 million for public improvements in the next 35 years. Financial consultant Jean Townsend told council that $48 million is the share her clients think they should contribute to $70.8 million in infrastructure needs, ranging from sidewalks to fire trucks, in neighborhoods where they hope to build as many as 2,000 homes. The site is north of U.S.
Highway 40 and just west of the existing city limits. The balance of the money could come from state and federal highway funds, other developments being considered for annexation — such as 360 Village — and the city. Elements of Steamboat 700’s financing proposal for capital costs are so new, city staff has not had time to analyze them and report to council. Accordingly, See Steamboat 700, page 16
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Mostly cloudy with storms. High of 62.
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