Denver City Council approved a lucrative lease deal for Alterra Mountain Company on Monday, giving the ski resort operator millions in concessions to move into the former Denver Post building.
The 12-year agreement is expected to generate $15.7 million for Denver, but only $5.25 million represents base rent after concessions.
The city’s projected receipts also include about $7.9 million in reimbursements for operating expenses and $2.6 million in parking revenue. Those figures do not account for the city’s financing costs or establish whether the building will generate a profit…