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ARGO HOLDINGS LLC


Project


Site / Project Name

Mighty Argo Mill and Tunnel Redevelopment project

Brownfield Site Address

2350 Riverside Drive, Idaho Springs, CO 80452

Site Owner

Argo Holdings LLC

Clear Title

Yes

Owner Contaminator

No

Former Use

1893-1943, Drainage, Transportation, Milling, Tunneling, Abandoned 1943, Purchased in 1973 as Tour Site from 1973- present

Land Use

The Mighty Argo Mill and Tunnel is a National Historic Superfund Site. It is a 27 acre parcel, that is one of the most iconic sites visible from I-70 through Idaho Springs. Operational from 1893 to 1943, it was the site of major advancements in Gold mining, milling and Tunneling technology during the Industrial Revolution. It was financed with seed funding from the Duke of York. Nicola Tesla and other major innovators and captains of industry contributed to the site and technological advances occuring there. The City of Idaho Springs is the site of the First Major Gold Discover in Colorado. The entire community has major historic significance, AND it is the first community West on I-70 from Denver with over 18,000,000 vehicles per year driving thru/by.

Infrastructure

on Riverside Drive (city Street), Bike trail, greenway. Less than 1/2 mile access to Interstate 70. Prominent View to and from I-70

Assessment Level

Phase 1

The Argo is a Superfund Site within the Central City Idaho Springs Superfund Area established in 1983. We are currently a BFPP

Contaminants


Cleanup Program

No

Remediation

Yes

Yes, the the EPA has installed a water treatment plant from flow out of the 4.2 Mile ARGO Tunnel. Catch basins have been installed at the base of the Bevill Waste Rock

Developer

Yes

ARGO Holdings, LLC

Future Use

Mixed Use

Colorado Greenway/Peaks to Plains Trail, Gondola, Housing, Hotel, Destination Restaurant, Retail and Maker spaces,Markets.

Financing Tools: Federal Programs

TBD

Financing Tools: State Programs

TBD

Financing Tools: Funds Committed

We have already invested over $2,000,000 in the site.

Challenges

Financing; Adopting a Redevelopment Plan for the site; Assessment and Cleanup of property

This is a very complex site with lots of moving parts. We have currently identified six operating units. 1. Mill and Tours, 2. Gondola and trails, 3. Base Village with housing, retail, office and maker spaces; 4.Hotel and Restaurants/Conference Center; 5. Argo East Housing; 6. Argo West Housing.

Technical Assistance

Tax Increment Financing; Historic Tax Credits; New Markets Tax Credits; Bonds; EB-5

Opportunity Zone, Metropolitan District, Superfund Initiatives, Brownfields Funding.

Disclaimer: This publication was developed under Assistance Agreement No. TR-83576801-0 awarded by the U.S. Environmental Protection Agency. It has not been formally reviewed by EPA. The views expressed in this document are solely those of Council of Development Finance Agencies and EPA does not endorse any products or commercial services mentioned in this publication.