As a result of the agreement, the WPRA board becomes a five-member board with initial staggered term; five years thereafter. The Mayor appoints the initial directors and the positions will be self-perpetuating in that the remaining citizen directors will elect their replacements for the term of five years.

"I believe that these individuals will represent the city's interests in Winter Park with enthusiasm," Webb says. "Winter Park is a valued city of Denver asset. Intrawest will be terrific for Winter Park and this board will be able to facilitate all the actions required by Intrawest to move forward."

The new board will act under an amended agency agreement with the city and county of Denver. WPRA will hold title to the Winter Park assets, execute the agreements with Intrawest, and take all actions required under the agreements.

Webb appointed city councilwoman Allegra "Happy" Haynes; Manuel Martinez, a law partner at Holme Roberts & Owen LLP; city special projects director Elizabeth Orr; foundation president and commercial real estate consultant Rick Pederson; William Dean Singleton, owner of the Denver Post.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.