I believe the old City Council closed the purchase of the Iron Horse Inn on Oct. 31 for the sole reason of being able to ensure the purchase could not be reversed by a new City Council. I guarantee delaying the closing by only one week would not have turned off the seller.
Maybe it is still possible to resell this property to the Cafritz Interests of Washington, D.C., to help satisfy their required affordable housing issues. If Steamboat Springs is so good at running housing projects, why not have the city handle all of the rental projects in the city? I hope the city is prepared to follow IRS regulations and issue Form 1099s to all employees who receive this subsidized housing. If an employee receives reduced rent of $5,000 per year, that is the same as earning $5,000 per year and must be reported as income.
I wonder if in the secret sessions the idea of closing the sale of the Iron Horse before the election was ever discussed?
Incidentally, who gets to choose who receives these cheap rents? It appears that this is going to become a nice little voting bloc beholding to the City Council.
I hope I don't sound too cynical, but the timing of this closing does not pass the smell test.
Stephen M. Dearholt