Colorado Springs council to discuss seller donation tied to 174 airport acres
A draft resolution would let the city accept the appraised value above the negotiated purchase price for two parcels planned for Peak Innovation Park.
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Colorado Springs City Council is scheduled to discuss a draft resolution Oct. 26 that would let the city accept a seller donation tied to about 174 acres at the Municipal Airport. The work-session agenda lists the item for discussion; the proposal has not been approved.
The resolution covers Parcels 4B and 5, part of a larger, phased 562-acre acquisition east of the airport, west of Marksheffel Road and north of Drennan Road. A City Council presentation lists the parcels at about 54.9 and 119.2 acres, respectively. It says their Phase 3 closing took place Sept. 1, 2026, so the pending resolution concerns the donation value associated with the purchase, not a new land closing.
Under the May 31, 2023, purchase agreement, the negotiated price was $1.68 per square foot, subject to applicable price escalators. The draft resolution cites appraisals of $2.04 per square foot for Parcel 4B and $1.92 for Parcel 5, and says the seller may donate the appraised value above the negotiated purchase price. Before escalators, those appraisal figures are 36 cents and 24 cents per square foot above the negotiated price. The draft does not give an adjusted purchase rate or total donation amount.
The city describes the broader acquisition as a way to expand Peak Innovation Park and gain control of land next to airport operational areas. About 1,600 acres at the airport are designated for the park, which is intended for mixed-use business development rather than airport operations.
If approved, the resolution would authorize the city’s Real Estate Services Manager to execute documents needed to complete acceptance. The scheduled work session has not yet taken place.