DENVER — Denver City Council has postponed its vote on a proposed $88.5 million agreement to purchase the former Denver Post building so that council members can gather further information about the transaction.
The deal with Kayan LLC, associated with New York-based American Properties, has been in the works for months and cleared the city council’s Finance and Governance Committee on Dec. 5. The proposal, discussed at the Jan. 2 council meeting, will return for a vote on Jan. 16.
Some council members expressed concern about the size of the purchase, whether the acquisition is a smart use of city resources, how much real estate the city is acquiring in general and about the amount of background information they had been provided to inform their vote.
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