FACILITIESAPPROVED

City of Cañon City Agreement Lease Agreement between the City of Cañon City and CMBH Partners, LLC 2026-06-18

City Approves Long-Term Royal Gorge Bridge Lease

Annual percentage rent: 25% of admissions Gross Revenues; 10% of food, beverage & merchandise Gross Revenues; 10% of Special Event gross receipts; City Sinking Fund contributions of $200,000/year (CPI‑adjusted) up to $1,000,000 balance; Operator minimum $3,000,000 capital improvements by October 31, 2036City of CañonCMBH PARTNERS LLCJune 18, 2026

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Description

The City of Cañon City approved Resolution 07, Series 2026, entering into a long‑term lease agreement with CMBH Partners, LLC to operate the Royal Gorge Bridge and Park. The contract establishes percentage rent on admissions and on‑site sales, requires at least $3 million in capital improvements in the first decade, and creates a City sinking fund to co‑finance major new attractions and modernization over a potential 25‑ to 45‑year term. The agreement secures a key municipal revenue source while defining community access, marketing, and maintenance obligations.

Contract Details

Contract Amount

Vendor

CMBH PARTNERS LLC

Agency

City of Cañon, CO

Contract Type

FACILITIES

Document Date

June 18, 2026

Contract Term

Initial term November 1, 2026 – October 31, 2051 via 25 sequential one‑year renewals; optional First Ten‑Year Extension Term through October 31, 2059; optional Second Ten‑Year Extension Term through October 31, 2069

Renewal Date

2069-10-31

Renewal Info

Initial one‑year term (Nov 1, 2026–Oct 31, 2027) with 24 sequential one‑year extension options exercised by Operator via annual Extension Notices through October 31, 2051 (Initial Term). If all options through October 31, 2049 are exercised and specified average Gross Revenue growth conditions are met for lease years 14–23 vs. 19–23, Operator may secure a First Ten‑Year Extension Term (ten one‑year renewals) through October 31, 2059. If all options through October 31, 2059 are exercised and further Gross Revenue and performance conditions are met for lease years 24–33 vs. 29–33, Operator may secure a Second Ten‑Year Extension Term through October 31, 2069. Failure to provide timely Extension Notices after cure periods can be treated as voluntary termination with specified termination fees and potential offsets.

Issuing Agency