The Capital Development Committee approved CU Anschutz's $22.5 million hotel acquisition unanimously while laying over all three Colorado State University cash requests to Thursday after members raised pointed concerns about whether bond-backed projects constitute legitimate cash requests and whether the state could be left on the hook if CSU enrollment drops.
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The chair argued that CSU does not have the cash in hand and that using bond-generated dollars goes beyond what the committee traditionally sees in cash project requests, stating: 'I think what I'm struggling with here is you don't have the cash... What this is saying is we don't have that pool of dollars. We want to use these dollars that we can generate from bonds.' Brendan Hanlon countered that CSU had created a 30-year pro forma stress-tested for fee increases and enrollment changes, and that any bonds issued would be repaid locally and would not become a state ask.
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“We believe ownership by CU Anschutz is vital to maintaining the hotel's value to our community and partners. As future owners might not share the vision.”
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Sign in to subscribeCapital Development committee will come to order. Mr. Almazzada, please call the roll committee members. Henriksen. Here. Lindsey. Excused. Pelton B. Here. Winter. Here. Story. Excused. Mr. Chair. Here. Members. Our first order of business. Today's consideration of two year cash requests for University of Colorado. Welcome. Who wants to start us off? I think I will. I'm Terry Carruthers. I'm the Executive Vice Chancellor for Administration and finance at CU Anschutz. And good morning, Mr. Chair and Capital Development Committee members. Thank you for considering our cash acquisition request this morning. Chancellor Elliman sends his apologies for not being here. He's currently out of the country, so the team is here to carry things across. The hotel at 13025 E Mountain View Blvd became available for purchase late in the fall of 2025 at an acquisition price of 22.5 million. The current owner was involved in a few development properties north of the campus and has been divesting all of them over the past year due to strategic repositioning efforts of its position business. Opened in 2023, the hotel is directly north and adjacent to the CU Anschutz campus. It offers lodging, dining, fitness facility, faculty club and conference…
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