Town in Colorado proposes snow park under P3
Castle Rock, a town in Colorado (USA), has plans to develop a snow park through the public private partnership (P3) model.
Castle Rock and P3 Advisors LLC have already signed a memorandum of understanding (MoU) to carry out the project.
The P3 project involves the construction of a year-round alpine-esque attraction on 9.5 acres of a local park. The new facilities will be composed of an artificial snow-like surface made of polymer. The concession period will be 25 years with an option ot extend the contract for 10 years more.
The total project investment is estimated at US$28 million. Castle Rock will provide a a $2.7 million loan with 2.5 percent interest to P3 Advisors.
The new facilities are expected to attract about 17,000 visitors per year.
Castle Rock is a home rule municipality that is the county seat of Douglas County, Colorado, United States. Located midway between Denver and Colorado Springs, Castle Rock is part of the Front Range Urban Corridor.
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