The Denver-based Colorado Educational and Cultural Facilities Authority (CECFA) board voted unanimously on Wednesday to approve the documents necessary to issue bonds for the Stanley Hotel and Event Center Project. Part of this process includes establishing the CECFA subsidiary, SPACE LLC, the organization that will borrow the bonds to purchase The Stanley Hotel.
This is the final step prior to completing the sale of the iconic hotel in approximately four to five weeks as investments are finalized.
“I am so honored to be the owner of The Stanley Hotel longer than even the owner and founder, F.O. Stanley,” said John Cullen in a phone interview with the Estes Park Trail-Gazette. “My goals with this transaction are one part protection, one part validation and one part entrepreneurial.”…