The DAC signed an agreement to exclusively negotiate with Corporex for 120 days. The agreement was signed on Jan. 6, but the information was only recently made public.The hotel would feature underground parking, a large atrium, and a fifth-floor lobby, says Glen Sibley, VPand general manager of Corporex Colorado.

Sibley says it would not be a luxury hotel, but would be a step below that. It would be operated by a major hotel company, he says.

Andre van Hall, general manager and CEO of the DAC, says he's very impressed by Corporex's plans and designs, which were presented to more than 100 club members recently.After the 120-day agreement expires, both sides will re-evaluate where they are at, says van Hall, former general manager at the nearby Adam's Mark Hotel.

The hotel, which experts estimate could cost from $30 million to $50 million, might need a subsidy from the city.But would the city provide a subsidy that would compete with the 1,100-room Hyatt Regency hotel it is building across the street from the $268 million expansion of the Colorado Convention Center?

"That's an interesting question," van Hall tells GlobeSt.com.

Andrew Hudson, aide to Mayor Wellington Webb, says that any proposal for a subsidy would need to be evaluated on its own merits. "We'd need to look at the potential economic benefits to the city," Hudson tells GlobeSt.com. "But since we haven't even received a proposal, it's very, very premature.

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