Colorado to pay Lend Lease $4.5 million

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From the Denver Business Journal:

The state of Colorado agreed Monday to pay $4.5 million to Lend Lease Lowry Range LLC in a settlement between the company and the State Land Board over development of the former Lowry bombing range east of Aurora. Lend Lease, a division of Australian developer Lend Lease Corp. Ltd., was chosen in December 2006 to develop a planned community on 3,900 acres of the 26,000-acre bombing-range site. But it backed out this January, saying it couldn’t locate a sustainable water supply at a reasonable cost for the new community.

More Coyote Gulch coverage here.

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