Location:

Hudson, Weld County, Colorado

Background:

In September 2008, Inland Public Properties Development, Inc. closed on a $100 Million comprehensive transaction for the development, construction and ownership of a 1,250 bed correctional facility (“Facility”). The site is approximately 50 acres of previously undeveloped land located in Hudson, Colorado.

Facility Description:

IPPD entered into a P3 transaction in which IPPD funded, developed, owns and leases the Facility to be used by various correctional entities. IPPD worked closely with the Colorado General Assembly generating legislation to approve the Facility for the Department of Corrections. IPPD owns the Facility and it is leased under a long term, triple-net lease arrangement to house inmates. All funding requirements for the development and construction of the Facility were provided by IPPD. No governmental bonds were issued to fund this project.

The Facility was completed in November of 2009. This represents a construction period of sixteen (16) months. The project was on schedule and on budget. New capacity for a deep fresh water well, plus a new waste water treatment facility to supplement the municipality’s current capacity were also part of the overall transaction.