Plans to redevelop the Foothills Mall in Fort Collins are ready to move forward. In a 4-2 vote Tuesday night, the Fort Collins city council approved a financing agreement for the project.
According to the Northern Colorado Business Report, the agreement calls for $53 million in public support as part of the $313 million project.
After initial approval of the plan in May, the project was supposed to break ground in summer 2013, but ongoing negotiations kept that from happening. The projected opening of the mall is now set for the last quarter of 2015.
The Coloradoan reports that the agreement weighs in on how the redevelopment project should proceed – ranging from the issuance of bonds to how many trees are planted.
Council members supporting the project say it will help efforts to revitalize the midtown section of Fort Collins. Critics, however, say rebuilding the mall isn't a good use of taxpayer money during a time when many retail stores are struggling because of online sales.
