FACILITIESAPPROVED

Westminster Economic Development Authority Agenda Packet 2026-06-22

Earnest Money Escrow Set for Holly Park Sale

$45,000 earnest money (applied to $1,500,000 purchase price at closing)City of WestminsterPUMPKIN RIDGE HOLDINGS LLCJune 22, 2026

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Description

The Purchase and Sale Agreement with Pumpkin Ridge Holdings, LLC requires a $45,000 earnest money deposit held in escrow toward the $1.5 million Holly Park land purchase. The deposit is refundable or forfeited based on feasibility, title, and closing contingencies defined in the agreement.

Contract Details

Contract Amount

$45,000 earnest money (applied to $1,500,000 purchase price at closing)

Vendor

PUMPKIN RIDGE HOLDINGS LLC

Agency

City of Westminster, CO

Contract Type

FACILITIES

Document Date

June 22, 2026

Contract Term

Earnest money due within 5 days after Effective Date; held in escrow until termination or closing under PSA terms

Renewal Info

One-time escrow deposit associated with the PSA; no renewal terms. Deposit disposition governed by feasibility, title, HOA, and default provisions in the agreement.