HomeMy WebLinkAboutagenda.council.worksession.20260126AGENDA
CITY COUNCIL WORK SESSION
January 26, 2026
4:00 PM, City Council Chambers
427 Rio Grande Place, Aspen
I.Work Session
I.A Continuation of Board & Commission Interviews
I.B 455 Rio Grande Place - Restaurant Operator Applications
I.C Lumberyard Developer Update
II.Council discussion of the items published in the most recent information update,
as needed
Zoom Meeting Instructions
Join from PC, Mac, iPad, or Android:
https://us06web.zoom.us/j/81279456793?
pwd=biGnmwQQoGwQjTfzm09PODFaUx4cXk.1
Passcode:81611
Join via audio:
+1 346 248 7799 US
Webinar ID: 812 7945 6793
Passcode: 81611
International numbers available: https://us06web.zoom.us/u/kcrBN0bnti
Board Commission Interviews MEMO - 1-26-26.pdf
January 26 Work Session - 455 Rio Grande Restaurant Staff Report.docx
Attachment A - Applicant Reponses to 455 Rio Grande Place RFP.pdf
Jan 26 WS Memo - Lumberyard Developer Update.pdf
Jan 26 WS Slides - Lumberyard Developer Update - Final.pdf
1
1
2
3
4
5
6
7
8
9
10
11
12
13
STAFF REPORT
TO: Aspen City Council
FROM: Teika Carlson, Assistant City Manager
THROUGH: Pete Strecker, City Manager
MEETING DATE: January 26, 2026
RE: 455 Rio Grande Place - Restaurant Operator RFP Responses
INTENDED OUTCOME:
The purpose of the upcoming City Council work session is to provide an opportunity for
Council to review and discuss the twelve restaurant applications submitted for 455 Rio
Grande Place. This session is intended to support Council deliberation and consensus-
building around which proposals best align with the City’s goals, community priorities
(including affordable, year-round, and family-friendly dining) and vision for the space.
At the conclusion of the session, the desired outcome is clear direction on which
applicants Council wishes to invite to second-round interviews scheduled for February 2.
EXECUTIVE SUMMARY:
On December 3, 2025, the City issued a request for proposals for the 1,687 square -foot
ground-floor restaurant space at the Rio Grande Building. Council previously directed that
the space be leased to a restaurant operator capable of providing year-round service, an
affordable and family-friendly dining experience, and daily public access. The RFP asked
vendors to describe operational capabilities, capital requirements, and lease terms.
For context, the previous tenant, Yogi’s LLC, operated under a lease approved in April
2023. The City initiated eviction proceedings in May 2025 due to non -payment of rent,
and the lease was terminated early in November 2025 (Resolution #153, Series 2025).
DISCUSSION:
Staff have consolidated the submitted materials from each applicant for Council to review.
Materials from applicants were in response to t he criteria that were published within the
RFP and included specifics around:
14
Company background and ownership
Qualifications
Concept and Operations
Lease Rate/Term
References
The full RFP document can be found here:
https://aspen.gov/DocumentCenter/View/15550/Rio-Grande-Building-Restaurant---RFP-
Final
NEXT STEPS:
To allow for an expedited review of potential operato rs for this space, Council elected to
assess the merits of each applicant and to determine which applicants to bring forward to
a second-round interview process. The reduced pool of applicants (determined at
tonight’s work session on January 26) will then present their concepts and be available
for questions at the work session schedule for February 2. Following that meeting,
Council will select its preferred operator and make that announcement at a regularly
scheduled meeting and then (likely) enter into executive session to discuss possible lease
terms. A regularly scheduled meeting would then allow for adoption of a contract with the
final vendor.
CITY MANAGER COMMENTS:
ATTACHMENTS:
Attachment A – Applicant Responses to 455 Rio Grande Place RFP
15
Contents
1. 520 Grill …………………………………………………………………………………….…1
2. Bamboo Bear……………………………………………………………………………… 15
3. Elevation Pizza…………………………………………………………………………….26
4. Jaffa…………………………………………………………………………………………..41
5. Masala & Curry……………………………………………………………………………54
6. Napolita Pizzeria & Wine Bar……………………………………………………….…61
7. Slice of Aspen……………………………………………………………………………119
8. Soul & Spice………………………………………………………………………………135
9. Ta queria El Yaqui………………………………………………………………………..138
10. Thai Smile………………………………………………………………………………….147
11. Tino’s Aspen Taqueria………………………………………………………………….155
12. Turkuoise Turkish Kitchen…………………………………………………………….180
16
520 Grill
1
17
Application Overview
Reference: 2025-700 Rio Grande Restaurant Space
Contact: procurement@aspen.gov
Section 1 - Company Introduction (and Applicant Information):
Proposed by: Troy Selby
Business: 520 Grill, Aspen, Colorado
Current address:
Company: T&W Partners LLC (Sole Owner: Troy Selby)
Email: Cheftroy520grill@gmail.com
Cell Phone: REDACTED
Business Phone: 970-925-9788
-----------
To the City of Aspen Business Procurement Department and members of City Council:
Please allow me to introduce myself, Troy Selby, with T&W Partners LLC, the sole owner and
operator of 520 Grill in downtown Aspen. I have owned the business for the past fifteen
years and have been an engaged member of the community for the past thirty years.
I hope to continue to contribute to the community as a restaurateur and am very interested
in the opportunity for the lease for the 2025-700 Rio Grande Restaurant Space.
My wife, May Selby, and I purchased our townhouse in downtown Aspen twenty years ago
through the Aspen Pitkin County Housing Authority, where we live and are raising our
twelve-year-old son, Remy, a student at Aspen Middle School.
I have a loyal staff in place to support restaurant operations and a manager who also lives
in employee housing in town, which he owns.
As background, when I first opened my business in 2010, it was named 520 Grill (inspired
by the address of 520 East Cooper and the opening date of 5/20/2010). In 2020, during the
pandemic, I rebranded the restaurant to Silverpeak Grill in alignment with our neighbor,
Silverpeak Dispensary. To weather the challenges on businesses at that time, we set out to
align our names and logos to establish the businesses as a united front in our building. We
2
18
intended to pursue new business opportunities together, such as opening new locations;
however, those visions did not materialize. There never was a written or official partnership
between the two entities.
I am returning to the original name and brand of 520 Grill to recognize the heritage of the
business, set us apart, and continue to grow. For the sake of clarity, I will refer to the
business under this name throughout this proposal.
520 Grill has been an Aspen staple in our community for more than fifteen years and I have
employed many full- and part-time staff over this time.
My current lease at 520 East Cooper in downtown Aspen is under threat due to significantly
increased rent by the landlord, a very challenging year due to intense construction on the
building interior and exterior affecting access points and customer experience. This began
in March and is ongoing. Additionally, the landlord seeks to pass construction assessments
onto me. Thus, I have now been priced out of the commercial free market rentals in Aspen,
leaving me unable to provide an affordable dine-in restaurant space in the heart of town.
To carry on with the business, I am seeking a more viable opportunity to operate my
restaurant and would genuinely appreciate the opportunity to continue in a new location
with a more sustainable financial arrangement. I am confident and enthusiastic about 520
Grill’s next chapter in moving into the turnkey, spacious, deed restricted, rent controlled
business location.
Our core values have always been centered on providing quick serve food made with
healthy ingredients, being welcoming, and offering affordability and convenience. We’ve
offered carry out, dine in, delivery, and catering. We have developed a loyal customer base
with many workers as regulars, repeat families, tourists who return on their every visit, and
kids who have literally grown up in front of us. I hope to continue this tradition and position
in the community.
In this new location, I would expand upon the catering side of the business. I have catered
for the City of Aspen, the Thrift Shop, Pitkin County departments, the Aspen Volunteer Fire
Department, the City of Aspen Police Department, Aspen Center for Environmental
Studies, the Thrift Shop of Aspen, and many more meaningful organizations.
We understand there will be an importance for delivery, and I would seek to develop our
own service during the day for the core of Aspen and would be open to partnering with
other delivery services such as Uber Eats or DoorDash should they enter the market. And I
would continue my longtime relationship with À La Car for nighttime delivery.
3
19
I see great synergy between the interior and outdoor space of this restaurant and the
adjacent parks and playing fields and cultural attractions. I would seek to connect my
business with the neighborhood around me and town.
We value our longstanding relationship with the City of Aspen and look forward to
continuing that partnership under a stable, fair, and collaborative lease agreement.
Thank you for your time and consideration.
Sincerely,
Troy Selby
Section 2 - Qualifications:
With a 15-year track record of local success at 520 East Cooper Avenue, my business is a
proven contributor to Aspen’s local dining culture.
We have been recognized over the years by Yelp as a Top Choice Affordable Restaurant by
diners, by Trip Advisor for Top Rated American Cuisine, and by readers of The Aspen Times
for Best Burger and Most Affordable Eats.
Our mission for the restaurant at Rio Grande Place is to deliver consistent quality,
affordability, welcoming hospitality, and to embrace the community. We also take pride in
the sustainable sourcing of food and packaging, composting, and reducing waste; and take
pride in our integrity for fair prices, caring service, and overall value.
Our vision for the restaurant at Rio Grande Place is to build upon our reputation as Aspen’s
go-to place for lunch and dinner. We envision the new location’s easy access to the
outdoors and adjacent parks and cultural centers as a benefit. We will continue to be
genuine, friendly, and inclusive towards our customers. We will carry on with our approach
to sustainability and transparency.
The Rio Grande space is nearly turnkey, requiring minimal renovation or buildout. We
anticipate opening within 30–45 days of lease signing.
Initial Investment Estimate: Privately funded—no external investors or financing required.
Funds allocated for:
•Equipment calibration and branding refresh
4
20
•Light décor updates and signage
•Staff onboarding and startup payroll
•Opening marketing and community engagement
•Beer and wine license transfer costs
•Application for a liquor license and TIPS certification for staff
Projected First-Year Performance:
•Revenue: $950,000 – $1.1 million
•Gross Margin: ~25%
•Break-Even Point: Up to 12 months of operations after opening
•Staffing: 5–12 full- and part-time employees
Additional Requests:
•Customer parking discount in Rio Grande parking garage.
•Short-term parking spaces near entrance for curbside take-out/pick-up.
•Continued City Hall catering service (weekly/monthly support).
•Opportunity for first bid on large City and Rio Grande Park events.
•Active participation in City sustainability and community event programs.
•Utilities for restaurant space to
Provided are the following documents:
•Business tax filings (past 24 months)
•Profit & Loss and Balance Sheet (past 24 months)
•Current bank letter of good standing
Financial Summary
•Long-term, established business with deep local roots and consistent revenue.
5
21
•Merchant cash advance of approximately $60,000 obtained during construction-
related hardship; currently in good standing and on track for full repayment within 8–
10 months.
•Past rent delinquencies occurred due to COVID-19 restrictions and current site
construction disruptions—not from operational or financial mismanagement.
•Throughout all challenges, the company has maintained good faith efforts,
communication with landlords, and responsible payroll, tax, and vendor
performance.
•All accounts current; no open tax liens or outstanding creditor disputes.
•Privately funded for new startup costs with no new loans or investors required.
We are currently engaged in a legal process to resolve and terminate our existing
lease under fair and lawful terms. These conditions have made it impossible to continue
operating an affordable restaurant in that location. Transitioning to city owned space would
provide the opportunity to enable business continuity, protect local jobs, and maintain
affordable dining options for Aspen’s community. Relocation from our current location has
become necessary due to conditions outside our control:
•Major and invasive building renovations imposed by the current landlord, ongoing
for nearly a year.
•Severe business disruption caused by loss of access, safety concerns, and
prolonged structural issues.
•During this period, the landlord increased rent annually and added a 50%
assessment fee, despite loss of viability.
•The result has been an estimated $365,000 in lost potential revenue and recurring
unscheduled disruptions.
•Project completion is still pending; access will again be restricted following
a mandatory post-holiday construction period.
Funds allocated for:
•Equipment calibration and branding refresh
•Light décor updates and signage
•Inventory and supplier deposits
6
22
•Staff onboarding and startup payroll
•Opening marketing and community engagement
Projected First-Year Performance:
Revenue: $950,000 gross income estimate.
Staffing: 5–12 employees
Section 3 – Concept and Operations:
Our concept for the Rio Grande restaurant space aligns closely with the City of Aspen’s
goals of creating vibrant, locally supported, sustainable downtown spaces.
Operations Overview:
•Concept: Modern casual bistro café and bar.
•Service Model: Counter service during the day; full dine-in and bar service evenings.
•Seating: We will follow the fire code for the maximum number of seats in each area –
indoors and patio seating.
•Suppliers: Primarily local and regional Colorado vendors.
Hours of Operation:
•Peak Seasons: 10 AM – 11 PM or later as appropriate.
•Shoulder Seasons: 11AM – 8 PM.
•Closure: Thanksgiving Day and Christmas Day, and potentially limited times in
April/May and October/November for maintenance, repairs, and to ensure our staff
has enough rest and can maintain a meaningful quality of life.
Community Impact:
•Local Ownership: More than 15 years of proven, continuous operation in Aspen.
•Accessibility: Affordable meals, counter service, and casual atmosphere for
residents, workers, and visitors.
•Employment: Year-round jobs for 5–12 local employees, adjusted for the season.
•Sustainability: Active participation in Aspen’s composting, recycling, and waste-
reduction programs.
7
23
•Civic Partnership: Continued collaboration with city and county departments for
catering and municipal events.
Proposed Kitchen Equipment:
Upon touring the space, I found most of the equipment to be usable to execute our menu
needs. I would like to move some of the equipment around. I would put the steam cooker in
the back kitchen and possibly add some induction burners there for sauce preparation and
basic reheating needs. I would eliminate the pressure fryer and replace it on the line with a
high output griddle top or a closed flame grill, either with the one I already own or a new
one. The current code prefers a non-open flame grill and is safer to use. Preventing flareups
and smoke build up while reducing grease and carbon particles in the air. It is standard
practice in our restaurant to clean hood grease filters nightly and clean hood surfaces.
Regular hood duct, hood fan and belt maintenance performed by certified technicians a
minimum of 4 times a year. Fire suppression system to be serviced two times a year per
code and lease terms.
Seating capacity to be determined by fire code and square footage. I find that this is more
comfortable for patrons and staff. The same goes for the outdoor seating space.
Ideally, I would be bringing tables and chairs and adjusting accordingly not purchasing new
ones to cut down on opening costs and time. I would prefer not to make any changes to
layout or fixtures except for painting accent walls, televisions and sound. Décor would
consist of featured local artists and Branded Logos and coloring. The lighting and natural
light seem adequate for our needs. No necessary alterations to building needed to open in
a timely manner.
Proposed Menu Prices (Including 10.35% Sales Tax per 2026 inflation)
Menu Item Ingredient
Cost
Menu Price (25%
Food Cost)
Final Price (with
10.35% Tax)
520 Burger Combo
Meal
$5.00 $20.00 $22.07
8
24
Philly Cheese Steak $5.50 $22.00 $24.27
520 BLT $4.00 $16.00 $17.65
Grilled Chicken Breast
Sammy
$5.00 $20.00 $22.77
520 Fried Chicken
Sammy
$5.50 $22.00 $24.27
Fried Shrimp Po’boy $6.00 $24.00 $26.48
Maryland Crab Cake
Sandwich
$7.00 $28.00 $30.89
Classic Italian Hoagie $5.50 $22.00 $24.27
Corned Beef Pastrami
on Rye
$6.00 $24.00 $26.48
Fresh Turkey Club $5.50 $22.00 $24.27
Pig Out Sammy $5.50 $22.00 $24.27
All prices are rounded to the nearest cent. Ingredient costs are estimated for Aspen, CO.
Actual costs may vary. These menu items only represent a portion of what we will offer.
Some menu items will be offered as combo meals including a choice of side at these prices
listed. We intend to offer an affordable bar menu, happy hour and fan favorites from the 520
Grills main menu. Full Menu and pricing available if needed to proceed.
Example Calculation
•520 Burger Combo Meal:
9
25
Ingredient cost: $5.00
Menu price: $5.00 ÷ 0.25 = $20.00
Final price: $20.00 × 1.102 = $22.04 plus sales tax.
Section 4 – Lease Rate/Term:
•Term: I understand 5 years is the intended initial lease. If this is negotiable, I would
request a 2-year initial lease to ensure the business is solvent, with an optional 5-
year renewal upon mutual agreement. Suggested base rent, to be negotiated on
actual percentage of utilities and percentage of gross sales, whichever is lower.
Lease agreement to resemble the structure of other city rent controlled restaurants
starting points, such as Red Creek grill, the cafe at Aspen Art Museum and Public
House. All of these had a very low price at the beginning of the lease terms.
•Base Rent: Per Addendum C, the request is $5,200/month.
•Rent Increases: Starting end of Year 2, capped at 3% annually based on cost-of-
living or CPI market adjustment.
•Lease Commencement: Immediately upon execution and permitting (target: open
within 30–45 days).
•Use: Restaurant, café, and bar for on-premises dining, catering, local delivery, and
takeout service.
•Maintenance: Tenant is responsible for maintaining the property and ensuring
operational standards are met in compliance with all applicable City requirements.
Section 5 – References:
I authorize the City of Aspen and its representatives to verify business references,
banking relationships, and financial standing as part of the standard lease review and
tenant evaluation process.
Attached are four letters of reference:
1. Steve Bartolacci, Sales Representative, Shamrock Foods
2. Peter Fornell, Previous Property Manager/Landlord at 520 East Cooper location
3. Chase Steinberg, President, Syndicate Group
4. Luke Beiser, Branch Manager, Alpine Bank
10
26
Additional Vendor References (available upon request):
•What Chefs Want
•Nobel Sysco
•Sysco Denver Credit Department
•The Romero Group and Aspenhof Condominium Association (520 East Cooper,
Aspen) - Property Management
In Summary:
520 Grill offers a proven, experienced, and responsible local operator with a 15-year record
of excellence and contribution to Aspen’s downtown community.
Our relocation reflects unavoidable building conditions, not instability — and this proposal
represents our intention to continue serving Aspen in a city owned, sustainable,
community-centered space.
Under city tenancy, we can ensure consistent operations, local employment, and long-
term contribution to Aspen’s quality of life and economy.
Thank you,
Troy Selby and the 520 Grill team and family
11
27
12
28
1329
December 30, 2025
To Whom It May Concern,
I am sending this letter as a reference for Troy Selby. I have worked with Troy for more than twenty
years in several different restaurants. He operates one of the last locally owned and affordable
restaurants in Aspen and we need to support his future in one of the most expensive zip codes in the
country. Aspen has been home to me for more than twenty-five years and during that time we have
seen most of the locally owned spots close because of high rent and the cost of doing business. Troy
has a crew of long-time workers who depend on him for a paycheck. Locals typically cannot afford to
eat out in Aspen and that’s a problem for our workforce. With climbing rent, higher labor and
increased food costs, it’s next to impossible for operators to survive unless they cater to the wealthy
tourists. I think Troy would do a great job in the city owned location at 455 Rio Grande Place. Here’s
a list of locally owned and affordable options but the list continues to shrink because it’s impossible to
operate with even smaller margins. Maybe I missed a couple, but the fact of the matter is that in my
time in Aspen, the number of affordable food options has been drastically reduced. We need to
support our local restaurants!
New York Pizza
Bamboo Bear
Zane’s
Big Wrap
Silverpeak Grill
Poppycock’s
Hickory House
Feel free to reach out to me at any time to discuss my business relationship with Troy.
Best regards,
Stephen M. Bartolacci
Sales Representative
Shamrock Foods Co.
Stephen M. Bartolacci
5199 Ivy Street
Commerce City, CO 80022
cell: 970-618-6896
14
30
Bamboo Bear Restaurant
15
31
“2025-700 by Bamboo Bear Restaurant”
Proposal for Bamboo Bear to Lease the Rio Grande Building Restaurant Space
Submitted to:
Aspen City Procurement office
City of Aspen
427 Rio Grande Place
Aspen, CO 81611
Submitted by:
Vincent “Bamboo Bear” Bagford
Founder & Chef, Bamboo Bear
Section 1: Company Introduction
Bamboo Bear is a chef-driven, fast-casual Vietnamese restaurant founded in Aspen, Colorado,
in 2016 by Chef Vincent Bagford and Xuan Ha. Combining Vincent’s culinary expertise with
Xuan’s cultural authenticity. Many of you may remember Bamboo Bear from its original Aspen
location, where it became a local favorite and earned a reputation for consistency, affordability,
and community connection. Bamboo Bear has always been more than a restaurant; it has been a
gathering place rooted in the belief that Food is the Universal Language—a mission to connect
people through meals that are approachable, authentic, and affordable.
Bamboo Bear was built on the belief that Food is the Universal Language — that food should
bring people together across backgrounds, incomes, and cultures. During its original Aspen run,
Bamboo Bear became a trusted local favorite known for consistency, affordability, and
authenticity. It was not a trend concept; it was a community restaurant.
16
32
Problem & Solution
Problem
Aspen’s dining market has become increasingly expensive. Rising costs and frequent turnover
have reduced the number of affordable, reliable options for locals, workers, and seasonal visitors.
This lack of consistency leaves the community underserved and diminishes the long-term value
of prime restaurant spaces.
Solution
Bamboo Bear directly addresses this need by reestablishing a proven Aspen restaurant operator
with a strong local following. By offering accessible, flavorful Vietnamese cuisine at affordable
prices, Bamboo Bear provides a needed community amenity
I am respectfully submitting this proposal to re-launch Bamboo Bear in the Rio Grande Building.
This proposal is built on discipline, sustainability, and long-term stewardship, with the clear
goal of ensuring this important community space remains active, stable, and accessible for years
to come.
Section 2: Qualifications
Bamboo Bear is a proven Aspen concept with an established operating history, strong
community support, and consistent demand. The restaurant successfully served locals, seasonal
workers, and visitors through a fast-casual model designed for efficiency and affordability in a
high-cost resort environment
Ownership & Entity Structure Bamboo Bear operates as a closely held business owned and
operated by Vincent Bagford and Xuan Ha. Ownership is hands-on, operator-driven, and directly
involved in daily operations, financial oversight, and long-term stewardship.
The ownership team brings direct, hands-on food-service experience and a track record of
responsible operation. Bamboo Bear previously operated successfully in Aspen without reliance
on alcohol sales and with disciplined cost controls.
•Founder and chef with extensive experience operating restaurants in high-cost, resort-market
environments
•Proven prior success operating Bamboo Bear in Aspen
•Background in independent restaurant ownership and professional catering operations
•Former Chef of the Cliffhouse
17
33
•Bachelor’s Degree in Food Service & Hospitality Management, Johnson & Wales University
(Charleston, SC)
In addition to prior operations in Aspen, through consulting and direct operational involvement,
Vincent Bagford and Xuan Ha have proven experience opening and operating American
Catch in Blairsville, Georgia—demonstrating the ability to source best ingredients, launch,
staff, and stabilize a food-service operation in a non-urban market while maintaining quality
control, cost discipline, and operational consistency..
Financial Capacity & Banking
•Owner-provided self-financing
•Access to a private hard-money line of credit up to $100,000 to ensure adequate
operating capital and stability during ramp-up and off-season periods
•Bamboo Bear has maintained consistent professional support, including the sameaccounting firm, Ann Wang, AW Financial Services, LLC, throughout its prior Aspen
operations and current business planning. Ann Wang, AW Financial Services, LLC, who
has and will support Bamboo Bear’s financial reporting and compliance.
•Bamboo Bear maintains established banking relationships with both REDACTED and
REDACTED. The REDACTED business account has been active since 2018 and has
supported prior Bamboo Bear operations. These relationships reflect stable financial
management and long-standing institutional banking history.
Disclosures
•No history of bankruptcy filings
•No unresolved legal disputes related to prior restaurant operations
Supporting financial documentation, credit information, and banking references can be provided
upon request or as part of final due diligence.
References
•David Krutel, European Catering
•(contact information available upon request)
•Ryan Chadwick, Aspen Entrepreneur
•(contact information available upon request)
•Angi Wang, Aspen Realtor
•(contact information available upon request)
18
34
Section 3: Concept & Operations
Concept Overview
Bamboo Bear is a chef-driven, fast-casual Vietnamese restaurant focused on high-quality food
at accessible price points. The concept reflects Aspen’s need for reliable, affordable dining
options that serve the community year-round.
Menu & Pricing (Ranges)
Pricing is intentionally structured to remain approachable for locals and seasonal workers while
remaining viable in Aspen’s cost environment.
•Appetizers: approximately $6 – $12
•Entrées: approximately $12 – mid-$20s
•Beverages: $3 and up
•Alcohol: to be determined (not required for operational viability)
Ordering & Service Model
Bamboo Bear has a strong takeout and online ordering foundation through its established
website, bamboobearrestaurant.com, which previously supported both in-house and off-
premise dining. Online ordering will be reactivated as part of the relaunch, and delivery options
may be considered based on demand and operational capacity.
The menu and kitchen workflow are designed for timely, quick-service execution, supporting
both dine-in and takeout guests efficiently. As demand warrants, a grab-and-go cooler may be
introduced to serve park users, commuters, and guests seeking fast, convenient meals without
disrupting core operations.
Menu offerings emphasize pho, bánh mì, rice plates, dumplings, and Bamboo Bear’s signature
crispy chicken, with vegetarian and dietary-friendly options consistently available and
everyone’s favorite Specials.
Operations Plan
•Open six days per week
•Closed on major holidays
•Closed two weeks during each off-season (spring and fall), totaling approximately 28
days annually
•Lean staffing model focused on consistency, speed, and quality
•Soft opening with a limited menu to ensure operational stability and controlled ramp-up
19
35
Opening Strategy
Bamboo Bear intends to open as soon as feasible following lease execution and permitting.
Initial operations will launch with a focused, limited menu to ensure consistency, quality, and
proper staff training. Menu offerings will expand gradually as staffing is trained, retained, and
operations stabilize, allowing the restaurant to scale responsibly back to full capacity.
Anticipated Personnel Needs
•General Manager / Lead Operator
•Kitchen staff sized appropriately for fast-casual service volume
•Front-of-house counter service staff/ food runners/ busser
Staffing levels are intentionally conservative and scalable.
•Delivery driver
Facilities & Equipment
•Retention of existing kitchen equipment where functional and appropriate
•Premises to be delivered fully functional, including:
o Kitchen exhaust hood system operational and code compliant
o Mechanical, electrical, plumbing, and fire suppression systems in working order
o Correction of known deficiencies prior to possession
•Applicant intends to paint and install appropriate Bamboo Bear décor to refresh the space
while respecting the building and surrounding area. With all approval from city.
Target Market & Community Fit
Bamboo Bear is designed for locals, seasonal workers, families, and visitors seeking dependable,
affordable meals. The concept complements the adjacent park, trails, offices, and year-round foot
traffic, reinforcing the City’s vision for a family-friendly community hub.
Section 4: Lease Rate / Term (Proposed Amendment)
Bamboo Bear has reviewed Exhibit C and respectfully proposes the following amendment:
Requested Lease Structure
•Base rent only
•Elimination of all percentage rent and gross-sales reporting requirements
Rationale
•Percentage rent structures, audits, and gross-sales definitions introduce unnecessary
administrative burden and risk for both tenant and landlord
20
36
•Aspen’s razor-thin operating margins—particularly during shoulder seasons—require
predictability and simplicity
•Base-rent-only structure ensures:
o Transparent, reliable revenue for the City
o Reduced audit exposure
o Long-term operational stability
o A clear landlord-tenant relationship rather than a quasi-partnership
This structure allows Bamboo Bear to reinvest seasonal surpluses to sustain operations during
slower spring and fall periods, ensuring the restaurant remains open, staffed, and viable year-
round.
Executive Proposal Summary
•Four months of free rent (as previously offered by the City) to support a disciplined
relaunch
Financial Discipline
•Conservative break-even targets
•Food costs maintained at approximately 28–30%
•Labor maintained at approximately 30–32%
•Sustainable without reliance on alcohol sales
Community Value
•Proven Aspen operator with an established following
•Affordable, inclusive dining for locals and workers
•A year-round asset aligned with Aspen’s long-term goals
Aspen Speaks – The Community’s Voice
“When are you reopening? Aspen really needs you back.”
“Your pho was the best meal I had all season.”
“Affordable, authentic, and made with love.”
“Please bring Bamboo Bear back. Aspen misses you.” Aspen Speaks
“When are you reopening? Aspen really needs you back.” – Facebook message
“Your pho was the best meal I had all season. Nothing else like it in Aspen.” – Yelp review
21
37
“Affordable, authentic, and made with love. Bamboo Bear was always our local go-to.” – Google
review
“That pork chop cơm tấm is no joke. I still crave it.” – Instagram story mention
“Please bring Bamboo Bear back. Aspen misses you.” – Direct message
________________________________________
The Spirit of Bamboo Bear
Like the bamboo itself, Aspen’s community is strong, adaptable, and deeply rooted. A
Vietnamese proverb says:
“When the bamboo is old, the bamboo sprouts appear.”
For Aspen, Bamboo Bear is one of those sprouts — a restaurant that rose to meet the needs of the
community: affordable food, authentic culture, and a place where everyone felt welcome.
Bamboo Bear became part of Aspen’s fabric. Even after four years of hibernation, locals and
visitors continue to reach out, asking for the return of a restaurant that felt like theirs.
________________________________________
Community Connection
• Demand is ongoing: Dozens of direct messages and posts since 2021 asking when
Bamboo Bear will reopen.
• Signature dishes remembered: Pho, crispy chicken, riblets, bánh mì — meals people still
crave years later.
•Local pride: Aspenites often called Bamboo Bear “our spot,” a rare place where they
could eat well without breaking the bank.
• Inclusive dining: Vegetarian, gluten-free, and dairy-free guests consistently praised
Bamboo Bear for being thoughtful and accommodating.
________________________________________
Press & Recognition
• Aspen Times: Highlighted Bamboo Bear as one of Aspen’s most authentic and affordable
dining experiences.
• Foodbeast: Featured Bamboo Bear’s crispy Vietnamese fried chicken nationally.
22
38
• Dozens of five-star reviews across Google, Yelp, and TripAdvisor praising Bamboo Bear
as “real,” “affordable,” and “different from anything else downtown.”
________________________________________
Why It Matters for Aspen
Bamboo Bear wasn’t just another restaurant — it was part of Aspen’s identity.
• Aspen already has pizza and burgers. What it doesn’t have is authentic, inclusive, and
affordable Vietnamese cuisine.
• Locals and visitors alike are asking for Bamboo Bear, by name.
• Council now has the chance to answer that call, honoring Aspen’s values of community,
culture, and affordability.
Closing Statement
While higher bids may look attractive on paper, inflated lease structures in Aspen’s cost
environment often lead to failure and vacancy. Bamboo Bear offers a disciplined, sustainable
alternative—one that prioritizes long-term occupancy, community service, and responsible
stewardship of a public asset.
Bamboo Bear has been in hibernation. Aspen wants it back.
For locals. By locals. Proven in Aspen.
Food is the Universal Language.
Rio Grande Building – Restaurant Space Lease Overview
23
39
Property: Rio Grande Building
Address: 455 Rio Grande Place, Aspen, Colorado
Landlord: City of Aspen
Core Lease Terms
•Premises: 1,615 square feet (lower level) plus outdoor patio seating
•Term: Five (5) years, starting 2026 –
•Renewal: One (1) five-year option, exercisable with 120 days’ written notice
•Base Rent: $64,600 annually ($40/SF), subject to annual CPI adjustment
•Security Deposit: $15,000 (requesting $10,000)
•Capital Improvements: Previously completed by the City
Tenant Responsibilities
•Base rent and 60% share of building utilities
•Personal property taxes
•Required insurance coverage (general liability, casualty, liquor liability)
•Interior maintenance and repairs, including HVAC, plumbing, and electrical
•All permits, licenses, and regulatory compliance
Public-Interest Assessment
Community Benefits
•Proven Restaurant Location: Long-standing food service use supports continuity and
stability.
•Local Economic Activity: Supports employment, year-round service, and downtown
vibrancy.
•Outdoor Patio Seating: Enhances public streetscape and customer capacity.
Operational and Financial Considerations
•CPI-Linked Rent Escalation: Compounding increases may affect long-term
affordability for local operators.
•Maintenance Allocation: Tenant responsibility for major interior systems increases
operational risk.
•Insurance Costs: Required coverage exposes tenant to market-driven premium
increases.
•Assignment Limitations: Restricted transfer rights reduce business continuity options.
•Personal Guarantees: Individual liability requirements increase financial risk for small,
locally owned businesses.
24
40
•Audit Provisions: Financial audit rights with penalty interest require careful compliance
management.
•Use Restrictions: Operating hour requirements limit flexibility during seasonal demand
fluctuations.
Requested Lease Refinements (for Long-Term Viability)
1.Eliminate Percentage Rent: Maintain a predictable, fixed-rent structure.
2.Clarify Gross Sales Definitions: Reduce ambiguity and administrative burden.
3.Limit Personal Guarantees: Cap exposure to support small-business sustainability.
4.Define Maintenance Scope: Distinguish routine maintenance from capital-level repairs.
5.Consider Conditional Early Termination: Provide safeguards for unforeseen economic
conditions.
Financial Context
When combining base rent, utilities, insurance, and maintenance, total occupancy costs may
exceed $100,000 annually. Predictable lease terms are essential to ensure affordability,
operational stability, and long-term success for a locally operated restaurant serving the Aspen
community.
Summary for Council Consideration
The Rio Grande lease structure places substantial operational and financial responsibility on the
tenant. While the location and community value are strong, modest adjustments would better
align the lease with the City’s goals of local business retention, economic sustainability, and
long-term stewardship of public assets.
A balanced lease framework supports both responsible City ownership and the success of
community-serving operators.
25
41
Elevation Pizza
26
42
Elevation Pizza – Letter of Intent RFP 2025-700 | Rio Grande Building Restaurant Opportunity Dear Members of the Aspen City Council, Thank you for the time and consideration you give to applicants seeking to become part of Aspen’s business community. We appreciate the opportunity to submit this Letter of Intent in support of Elevation Pizza’s proposal for the Rio Grande Building restaurant opportunity. Elevation Pizza is a Colorado-based restaurant concept built on craftsmanship, community responsibility, and long-term operational stability. Our intent is to create a well-run neighborhood restaurant—one that emphasizes quality, consistency, and respectful operations rather than high-volume or transient traffic. Our partnership was formed organically through shared values and proven collaboration. We first connected through a local charity event supporting community initiatives in the Fraser Valley. Following that introduction, Executive Chef Cory Untch was engaged to consult on Elevation Pizza’s culinary program and operational systems. Through this work, a strong alignment emerged around food quality, financial discipline, team culture, and community stewardship. In 2025, that collaboration evolved into an aligned partnership focused on the thoughtful growth of the business. Executive Chef Cory Untch brings more than 27 years of hospitality and food and beverage leadership experience across luxury hotels, destination resorts, and independent restaurant concepts, including The Ritz-Carlton, The Little Nell, Ted Turner’s Vermejo Reserve, and C Lazy U Ranch. His work centers on building sustainable restaurant systems that balance culinary excellence with operational consistency, team development, and financial accountability. José Munoz brings extensive experience in business ownership, financial strategy, and risk management through a long-standing career in the insurance industry, as well as ownership of multiple businesses. His background in underwriting, compliance, and financial oversight ensures Elevation Pizza is structured with disciplined governance, conservative financial planning, and long-term viability. Together, we represent a complementary partnership—culinary and operational leadership paired with disciplined financial stewardship. Our shared goal is to be responsible, engaged business owners who contribute positively to the local economy while respecting Aspen’s standards for quality, safety, and community impact. We are committed to local hiring, clear operational standards, and maintaining a respectful presence within the neighborhood. We value collaboration with City departments and believe that well-run, community-minded businesses play an important role in preserving what makes Aspen special.
27
43
Thank you again for your time and consideration. We would welcome the opportunity to continue the conversation and to serve as thoughtful stewards of a space within the Aspen community. Warm regards, Cory Untch Executive Chef & Founding Partner Culinary Leadership Elevation Pizza José Munoz Founding Partner Financial & Operational Leadership Elevation Pizza
28
44
RFP 2025-700 – Rio Grande Building Restaurant Proposal Proposed & Operated by: Elevation Pizza (Colorado) 1. Executive SummaryElevation Pizza proposes a community-focused, fast-casual restaurant for the Rio Grande Building. The concept emphasizes affordability, consistency, and accessibility for locals, City employees, hospitality professionals, families, and visitors. Elevation Pizza will operate year-round and support the Aspen and Snowmass communities through reliable service, local partnerships, and long-term employment. 2. Company OverviewElevation Pizza is a Colorado-based restaurant operator currently operating in Fraser, Colorado. The Aspen location represents a thoughtful expansion tailored to a mountain resort market, with experience in high-volume casual dining and efficient operations. 3. Concept OverviewElevation Pizza offers high-quality pizza and shareables in a welcoming, casual setting. The focus is on speed, value, and consistency rather than fine dining, supporting dine-in, takeout, and park traffic year-round. 4. Culinary & Operations TeamExecutive Chef Cory Untch – Founding Partner, Culinary Leadership Executive Chef Cory Untch brings extensive culinary leadership experience in Colorado resort and luxury hotel markets, including senior roles at The Little Nell, Hotel Jerome, and T Lazy Ranch. His background includes high-volume operations, menu development, and multiple restaurant openings in mountain resort environments.
Jose Munoz – Founding Partner, Financial & Operations Jose Munoz is a founding partner of Elevation Pizza and leads financial and operational oversight, including budgeting, controls, systems implementation, and day-to-day operational strategy.
Suman Pradhan – Operating Partner (Front of House & Beverage Leadership) Suman Pradhan brings over two decades of Aspen and Snowmass food and beverage leadership experience and will serve as the operating partner helping run the Aspen location, overseeing front-of-house execution, guest experience, and beverage
29
45
programming. Suman is a certified sommelier and is passionate about featuring Colorado wineries and supporting local producers.
5. Sample Menu & PricingPizza Program • Signature Pizzas: 12” ($20–$26) | 14” ($24–$30)• Premium / Specialty Pizzas: $24–$30• Pizza by the Slice: $7–$9• Gluten-Free Crust Upgrade: +$4
Starters & Shareables • Garlic Knots / Cheesy Bread: $10–$12• Wings (8 pc): $18–$20• Meatballs (3–4 pc): $16–$18
Salads • Caesar Salad: $15–$18• House / Seasonal Salad: $14–$18
Sandwiches (Oven-Baked) • Meatball Sub: $16–$18• Chicken Parmesan Sandwich: $17–$19• Veggie Italian Sandwich: $15–$17
Soup • Soup of the Day (cup / bowl): $10–$15
30
46
Kids • Kids Slice + Drink: $10–$126. Beverage ProgramElevation Pizza Colorado-Based Beverage Partnerships Elevation Pizza is committed to supporting Colorado-based, independent beverage producers as part of its overall community-focused operating model. The proposed beverage program prioritizes locally owned and operated partners who contribute to Colorado’s hospitality and agricultural ecosystems. The concept will feature Colorado-produced spirits and wine, including partnerships with independent producers such as Colorado Vodka, a locally owned craft distillery, and Colorado Carboy Winery Partnership Elevation Pizza plans to feature wine from Colorado Carboy Winery, the largest locally owned winery in Colorado. Carboy operates two Colorado vineyards located on the Western Slope in Palisade, Colorado, along with a production facility in Littleton, Colorado. This partnership reflects Elevation Pizza’s commitment to supporting Colorado-based agricultural producers and independent beverage companies while offering guests a curated, approachable wine program rooted in local craftsmanship. Colorado Carboy Winery is led by Kevin Webber, President, and is actively involved with the Colorado Wine Development Board, reflecting a strong commitment to advancing Colorado’s wine industry. Elevation Pizza also values collaboration with beverage leaders who contribute to the broader hospitality community, including individuals such as Aaron Steinke, CEO and Owner of a Colorado-based independent beverage company, a Colorado Restaurant Association Board Member, Colorado Wine Development Board Member, and participant in the Colorado Liquor Enforcement Division advisory process. These partnerships reinforce Elevation Pizza’s focus on responsible operations, local sourcing, and meaningful engagement with Colorado’s hospitality and beverage leadership. Beer • Colorado Craft Beer: $8–$10
31
47
• Carboy Winery Wines: $16–$19 per glassReady-to-Drink (license permitting)• Grab-and-go cocktails: $12–$14
Non-Alcoholic • Soda / Sparkling Water: $4–$6• NA options: $6–$87. Community Focus & Discounts• 20% discount for public service professionals (firefighters, law enforcement, doctors,nurses)• 15% discount for City of Aspen staff and local service workers• 15% hospitality industry discount for Aspen–Snowmass hospitality professionals withvalid employer/staff ID
Loyalty Program A loyalty program will reward repeat local guests and frequent visitors. 8. Employment & Local HiringElevation Pizza expects to create 12–15 year-round jobs, expanding to up to 18 positions during peak periods, with a focus on local hiring. 9. Operating ScheduleElevation Pizza will operate year-round, providing consistent food and beverage service to the Aspen and Snowmass communities throughout all seasons. 10. ConclusionElevation Pizza offers the City of Aspen a reliable, community-oriented restaurant concept aligned with the goals of the Rio Grande Building.
32
48
Elevation Pizza × Carboy Winery
Strategic Partnership Presentation Deck
33
49
Strategic Partnership Overview
A curated wine partnership designed to elevate the guest experience
while driving incremental revenue through thoughtful menu
integration.
34
50
Wine Program Structure
Colorado-Based Beverage Program
• Wine program featuring Colorado Carboy Winery, Colorado’s
largest locally owned winery
• Two Colorado vineyards located on the Western Slope in
Palisade, Colorado
• Production facility based in Littleton, Colorado
• Focus on locally owned, independent Colorado beverage
partners
• Curated scientific wine program designed to pair seamlessly
with pizza and shareable food
• Simple execution model supporting service efficiency and
consistency
35
51
Guest Experience Impact
• Enhanced perceived value
• Encourages shared ordering
• Elevated but approachable tone
• Consistent guest journey
36
52
Financial Opportunity
• Increased average check
• High-margin beverage mix
• Limited SKUs reduce waste
• Minimal labor impact
37
53
Presentation introduction
Elevation Pizza is a Colorado-based restaurant concept focused
on quality, consistency, and community-driven hospitality. The
brand is built around approachable food, efficient operations, and
a commitment to long-term sustainability rather than short-term
volume.
The concept emphasizes:
•A neighborhood-focused, year-round operation
•Straightforward, high-quality food executed with
discipline
•A welcoming environment for locals, families,
employees, and visitors
•Responsible business practices aligned with
Aspen’s values and expectations
Elevation Pizza is designed to integrate seamlessly into the Rio
Grande neighborhood, supporting local employment, Colorado-
based partners, and a balanced guest experience that respects
the surrounding community
38
54
Food Program Overview
• Elevated pizza program built on quality ingredients and
consistency
• Menu designed for wine-friendly pairing and shared dining
• Balanced mix of signature pizzas, seasonal features, and guest
favorites
• Operationally efficient execution supporting speed and volume
• Flexible platform for future menu innovation
39
55
Leadership & Partnership Team
Executive Chef Cory Untch
Founding Partner, Culinary Leadership
Jose Munoz
Founding Partner, Financial & Operational Leadership
Suman Pradhan
Operating Partner, Strategic & Operational Leadership
40
56
Jaffa Kitchen
41
57
2025-700 by Jaffa Kitchen
455 Rio Grande Place
Aspen, Colorado
Section 1: Company Introduction
Jaffa Kitchen LLC is a locally owned, highly rated Middle Eastern restaurant offering fresh, affordable,
year-round cuisine with a focus on community accessibility and operational reliability.
●Doina Musteata and Alexei Rotaru are the owners of this local favorite, which has been proudly
serving the Roaring Fork Valley since 2020.
●Our concept fills a clear gap in the Aspen dining landscape while aligning directly with the city’s
goals for a long-term, dependable vendor.
●With our established business in Basalt, we are poised to start operations promptly and provide
locals and visitors with a family-friendly atmosphere and unique Middle Eastern cuisine.
●Our lean, efficient business model requires minimal build-out changes. We have strong credit and
a straightforward kitchen plan compatible with existing equipment, allowing us to start serving the
community with fresh, delicious meals as soon as possible.
●We are committed to being a long-term partner to the City of Aspen and would be honored to
contribute to the success and vibrancy of Rio Grande Place with a sustainable culinary
destination for locals, workers, and visitors alike.
●Alexei Rotaru and Doina Musteata have been longtime valley residents since 2008. Alex also
owns and operates several other companies in the Valley, including A&L Construction, A&L Home
Service, and Colorado Plumbing. Our commitment to our community runs deep, and we are
confident that Jaffa Kitchen will quickly become a staple of the Aspen food scene.
Section 2: Qualifications
Jaffa Kitchen LLC offers a unique culinary experience, boasting a robust Middle Eastern cuisine that is
currently underrepresented in our Aspen community. We have more than 5 years of experience selling
food and beverages in a clean, safe, and welcoming environment in Basalt, in the Roaring Fork Valley.
●There are no major legal disputes to disclose, except for one case in which a former
employee/clerk sold to an underage patron. The incident was taken seriously; the employee was
let go, fines were paid, and we have not experienced a similar issue since.
●We have never filed for bankruptcy protection. Please review the following letter from our bank,
Vectra, that outlines our working relationship and account status.
We serve breakfast, lunch, and dinner with options to satisfy a wide range of palates and patrons.
Business tenants and visitors will welcome our authentic, high-quality, refreshing new cuisine option,
which is globally considered popular, healthy, and affordable.
Jaffa Kitchen was voted Best Sandwich of the Year for three years by the Aspen Times, as chosen by
readers. As of December 2025, we are rated 4.6 stars on Yelp and 4.5 stars on Google.
42
58
Jaffa Kitchen would expand Aspen’s food diversity and offer locals and international visitors an everyday
option that is flavorful and accessible. Middle Eastern food has proven to be financially resilient, with
strong takeout demand, which is advantageous in both high and off-seasons. Our menu is efficient to
execute and naturally offers vegetarian, vegan, and gluten-free options without premium pricing.
We are long-time Roaring Fork Valley residents who immigrated to the U.S. and understand the
community’s needs, workforce culture, and seasonal patterns. As owners who take pride in our town and
business operations, we are committed to providing year-round service and stable employment
opportunities. We believe our multicultural background enriches Aspen’s values of inclusiveness,
innovation, and global connection, and that local ownership empowers the Aspen community more than
outside investors.
Please review the following documents on the next pages:
a.Letter from REDACTED Bank detailing our working relationship and account status
b.Credit report for Alexei Rotaru
c.Credit report for Doina Musteata
d.Business plan
43
59
Business Plan Summary
Jaffa Kitchen LLC
(Supplemental to RFP “Submission
Requirements)
44
60
TABLE OF CONTENTS
Jaffa Kitchen - Rio Grande Building 2025-700 1
1. Purpose & Scope 1
2. Operational Plan for the Rio Grande Building 1
3. Business Stability & Track Record 2
4. Revenue Performance & Growth Indicators 2
Cost Discipline Indicators
5. Financial Capacity & Capital Reserves
Financial Discipline
6. Risk Management & Resilience
7. Long-Term Outlook & Alignment with City Objectives
Conclusion
45
61
Jaffa Kitchen LLC, Business Plan Page 1
-DIID.LWFKHQ5LR*UDQGH%XLOGLQJ
3XUSRVH 6FRSH
7KLV%XVLQHVV3ODQ6XPPDU\LVSURYLGHGWRVXSSOHPHQWWKHRSHUDWLRQDOFRQFHSWDQGTXDOLILFDWLRQLQIRUPDWLRQDOUHDG\LQFOXGHGLQ
-DIID.LWFKHQ·V5)3UHVSRQVH,WLVLQWHQGHGWRDGGUHVVORQJWHUPILQDQFLDOVXVWDLQDELOLW\RSHUDWLRQDOVWDELOLW\DQGULVNPDQDJHPHQW
ZLWKRXWGXSOLFDWLQJSUHYLRXVO\VXEPLWWHGPDWHULDOV SHUVXEPLVVLRQUHTXLUHPHQWV RUGLVFORVLQJVHQVLWLYHILQDQFLDOGDWD,WGRHVQRW
FRQWDLQLQGHSWKILQDQFLDOSHUIRUPDQFHQRUILQDQFLDOPRGHOLQJLQIRUPDWLRQZKLFKPD\QRUPDOO\DFFRPSDQ\DEXVLQHVVSODQ
7KLVVXPPDU\IRFXVHVRQSHUIRUPDQFHLQGLFDWRUVFDSLWDODGHTXDF\DQGFRQVHUYDWLYHJURZWKH[SHFWDWLRQVUHOHYDQWWRD
ORQJWHUPPXQLFLSDOOHDVH,IGHWDLOHGILQDQFLDOLQIRUPDWLRQLVQHHGHGWKLVFDQEHVXSSOLHGXSRQUHTXHVW
2SHUDWLRQDO3ODQIRUWKH5LR*UDQGH%XLOGLQJ
7KHSURSRVHG-DIID.LWFKHQRSHUDWLRQDWWKH5LR*UDQGH%XLOGLQJLVGHVLJQHGVSHFLILFDOO\IRUWKHFKDUDFWHULVWLFVORFDWLRQDQGGDLO\
XVHSDWWHUQVRIWKLVVSDFH7KHRSHUDWLRQDOSODQHPSKDVL]HVDFFHVVLELOLW\HIILFLHQF\DQGUHOLDELOLW\ZKLOHPLQLPL]LQJVWDUWXSULVNDQG
RQJRLQJIL[HGFRVWV
)LWZLWKWKH5LR*UDQGH/RFDWLRQ
7KHVWUHHWOHYHORULHQWDWLRQSUR[LPLW\WR5LR*UDQGH3DUN7KHDWHU$VSHQ&LW\+DOODQGGRZQWRZQSHGHVWULDQFRUULGRUVPDNHWKLV
ORFDWLRQ ZHOO VXLWHG WR D IDVWFDVXDO FRXQWHUVHUYLFH PRGHO ZLWK FRQVLVWHQW GD\WLPH DQG HDUO\ HYHQLQJ GHPDQG 7KH SURSRVHG
FRQFHSWLVLQWHQWLRQDOO\DOLJQHGZLWKWKHVHXVDJHSDWWHUQVUDWKHUWKDQGHSHQGHQWRQODWHQLJKWRUGHVWLQDWLRQGLQLQJ
2XWGRRUSDWLRVHDWLQJZLOOEHXWLOL]HGVHDVRQDOO\WRDFFRPPRGDWHLQFUHDVHGGHPDQGGXULQJSHDNSHULRGVZLWKRXWPDWHULDOO\
LQFUHDVLQJVWDIILQJRURSHUDWLQJRYHUKHDG7KLVIOH[LELOLW\DOORZVWKHUHVWDXUDQWWRVFDOHVHUYLFHXSRUGRZQLQUHVSRQVHWRVHDVRQDO
DFWLYLW\ZKLOHPDLQWDLQLQJ\HDUURXQGDYDLODELOLW\
$GDSWDWLRQRIWKH([LVWLQJ2SHUDWLQJ0RGHO
-DIID.LWFKHQ·VH[LVWLQJRSHUDWLQJPRGHOWUDQVODWHVGLUHFWO\WRWKH5LR*UDQGHVSDFHZLWKPLQLPDOPRGLILFDWLRQ&RXQWHUVHUYLFHHIILFLHQW
NLWFKHQH[HFXWLRQDQGDPHQXGHVLJQHGIRUERWKGLQHLQDQGWDNHRXWVXSSRUWTXLFNVHUYLFHIRUSDUNXVHUVIDPLOLHVGRZQWRZQ
HPSOR\HHVDQGWKHDWHUSDWURQV
7KHDELOLW\WRXWLOL]HH[LVWLQJ&LW\SURYLGHGNLWFKHQHTXLSPHQWUHGXFHVEXLOGRXWFRPSOH[LW\OLPLWVFDSLWDOH[SRVXUHDQGVXSSRUWVD
IDVWHURSHQLQJWLPHOLQH7KHSURSRVHGOD\RXWDQGVHUYLFHDSSURDFKDOORZIRUHIILFLHQWVWDIILQJDQGFOHDUFXVWRPHUIORZZKLFKLV
SDUWLFXODUO\LPSRUWDQWGXULQJKLJKYROXPHGD\WLPHSHULRGV-DIIDVH[LVWLQJRSHUDWLRQFDQFRQYHUWWRQHZORFDWLRQLPPHGLDWHO\
ZLWKOLWWOHWRQRGHOD\
'LIIHUHQFHVIURPWKH([LVWLQJ/RFDWLRQ
&RPSDUHGWRWKHH[LVWLQJ%DVDOWORFDWLRQWKH5LR*UDQGH%XLOGLQJLVH[SHFWHGWRJHQHUDWHKLJKHUSHGHVWULDQWUDIILFVWURQJHUOXQFK
GHPDQGDQGLQFUHDVHGHDUO\HYHQLQJYROXPHGULYHQE\QHDUE\SXEOLFVSDFHVDQGHYHQWV7KHRSHUDWLRQDOSODQDFFRXQWVIRUWKHVH
GLIIHUHQFHVE\SULRULWL]LQJVSHHGRIVHUYLFHWDNHRXWDFFHVVLELOLW\DQGIOH[LEOHVWDIILQJUDWKHUWKDQH[WHQGHGODWHQLJKWKRXUV
7KLVDSSURDFKDOORZVWKH$VSHQORFDWLRQWRRSHUDWHSURILWDEO\ZLWKRXWUHO\LQJRQSHDNWRXULVPSHULRGVRUQLJKWOLIHGULYHQGHPDQG
5LVN5HGXFWLRQDQG/RQJ7HUP5HOLDELOLW\
%\DOLJQLQJWKHFRQFHSWFORVHO\ZLWKWKHSK\VLFDOVSDFHDQGVXUURXQGLQJDFWLYLW\WKHSURSRVHGSODQUHGXFHVVHYHUDOFRPPRQULVNV
DVVRFLDWHGZLWKUHVWDXUDQWRSHUDWLRQVLQFOXGLQJRYHUEXLOGRXWRYHUVWDIILQJDQGGHSHQGHQFHRQQDUURZGHPDQGZLQGRZV7KH
PRGHOVXSSRUWVFRQVLVWHQWVHUYLFHPDQDJHDEOHRSHUDWLQJFRVWVDQGDGDSWDELOLW\DFURVVVHDVRQV
7KLVVLWHVSHFLILFRSHUDWLRQDOSODQUHLQIRUFHV-DIID.LWFKHQ·VDELOLW\WRVHUYHDVDGHSHQGDEOHORQJWHUPWHQDQWDQGFRPPXQLW\UHVRXUFH
ZLWKLQWKH5LR*UDQGH%XLOGLQJ
46
62
Jaffa Kitchen LLC, Business Plan Page 2
%XVLQHVV6WDELOLW\ 7UDFN5HFRUG
-DIID.LWFKHQLVDQHVWDEOLVKHGORFDOO\RZQHGUHVWDXUDQWZLWKPXOWLSOH\HDUVRIFRQWLQXRXVRSHUDWLRQLQWKH5RDULQJ)RUN9DOOH\6LQFH
RSHQLQJWKHEXVLQHVVKDVGHPRQVWUDWHGFRQVLVWHQWGHPDQGVWHDG\SHUIRUPDQFHDQGRSHUDWLRQDOGLVFLSOLQHLQFOXGLQJWKHDELOLW\
WRRSHUDWH\HDUURXQGZLWKLQDVHDVRQDOUHVRUWHFRQRP\
.H\LQGLFDWRUVRIVWDELOLW\LQFOXGH
•&RQWLQXRXVRSHUDWLRQZLWKRXWH[WHQGHGFORVXUHV
•&RQVLVWHQWSRVLWLYH\HDURYHU\HDUUHYHQXHSHUIRUPDQFH
•6WURQJWDNHRXWDQGTXLFNVHUYLFHGHPDQG
•$FWLYHRZQHULQYROYHPHQWLQGD\WRGD\RSHUDWLRQV
•([SHULHQFHPDQDJLQJVHDVRQDOIOXFWXDWLRQVFRPPRQWRWKHORFDOPDUNHW
7KLVRSHUDWLQJKLVWRU\SURYLGHVDVWDEOHDQGSURYHQIRXQGDWLRQIRUWKHSURSRVHG$VSHQORFDWLRQ
5HYHQXH3HUIRUPDQFH *URZWK,QGLFDWRUV
+LVWRULFDO3HUIRUPDQFH ([LVWLQJ/RFDWLRQ
<HDURYHU<HDU5HYHQXH*URZWK
&RQVLVWHQWO\SRVLWLYHJHQHUDOO\ZLWKLQWKHKLJKVLQJOHGLJLWWRORZGRXEOHGLJLWSHUFHQWDJHUDQJHUHIOHFWLQJVWHDG\GHPDQGUDWKHU
WKDQUDSLGH[SDQVLRQ
D 6DOHV&KDQQHO0L[ 7\SLFDO5DQJH
L 7DNHRXWTXLFNVHUYLFH DSSUR[LPDWHO\RIWRWDOVDOHV
LL 2QSUHPLVHGLQLQJ DSSUR[LPDWHO\RIWRWDOVDOHV
7KLVGLYHUVLILHGVDOHVPL[KDVSURYHQUHVLOLHQWGXULQJERWKSHDNDQGVKRXOGHUVHDVRQVDQGLVDJUHDWPL[IRU5LR*UDQGHORFDWLRQ
)RUHFDVWHG3HUIRUPDQFH²5LR*UDQGH/RFDWLRQ
*URZWKH[SHFWDWLRQVIRUWKH5LR*UDQGHORFDWLRQDUHLQWHQWLRQDOO\FRQVHUYDWLYHDQGEDVHGRQWKHSHUIRUPDQFHSURILOHRIWKHH[L VWLQJ
EXVLQHVV
E <HDU
,QLWLDOVWDELOL]DWLRQSHULRGDVWKHUHVWDXUDQWLQWHJUDWHVLQWRWKH$VSHQFRPPXQLW\DQGVXUURXQGLQJSXEOLFVSDFHV*URZWK
H[SHFWHGEDVHGRQ-DIID·VDOUHDG\SURYHQKLVWRULFDOJURZWK
F<HDUEH\RQG3RVW6WDELOL]DWLRQ$QQXDO
L *URZWK 3URMHFWHG
$SSUR[LPDWHO\²
DQQXDOO\GULYHQE\
LL 5HSHDWORFDOFXVWRPHUV
LLL &RQVLVWHQW\HDUURXQGDYDLODELOLW\
LY 3DUNWKHDWHUDQGGRZQWRZQIRRWWUDIILF
Y 7DNHRXWGHPDQGGXULQJRIIVHDVRQSHULRGV
7KHEXVLQHVVLVGHVLJQHGWRUHPDLQYLDEOHZLWKRXWUHOLDQFHRQDJJUHVVLYHJURZWKDVVXPSWLRQV
47
63
Jaffa Kitchen LLC, Business Plan Page 3
&RVW'LVFLSOLQH,QGLFDWRUV
•Labor Management:
/DERULVPDLQWDLQHGZLWKLQLQGXVWU\DSSURSULDWHSHUFHQWDJHUDQJHVWKURXJKFURVVWUDLQHGVWDIIDFRXQWHUVHUYLFHPRGHO
DQGGLUHFWRZQHULQYROYHPHQWLQPDQDJHPHQWFRYHUDJH
•Food Cost Control:
0HQXGHVLJQHPSKDVL]HVHIILFLHQWH[HFXWLRQOLPLWHGZDVWHDQGKLJKYROXPHFRUHLWHPV
•Capital Expenditure:
6WDUWXSDQGRQJRLQJFDSLWDOUHTXLUHPHQWVDUHLQWHQWLRQDOO\OLPLWHGWKURXJKXVHRIH[LVWLQJ&LW\SURYLGHGHTXLSPHQWDQG
PLQLPDOEXLOGRXWPRGLILFDWLRQV
)LQDQFLDO&DSDFLW\ &DSLWDO5HVHUYHV
-DIID.LWFKHQPDLQWDLQVDFRQVHUYDWLYHILQDQFLDOSRVWXUHGHVLJQHGWRVXSSRUWORQJWHUPRSHUDWLRQDOFRQWLQXLW\LQFOXGLQJGXULQJSHULRGV
RIUHGXFHGVHDVRQDOGHPDQG
&DSLWDO$GHTXDF\
D $YDLODEOHFDSLWDODQGFUHGLWUHVRXUFHVDUHVXIILFLHQWWRFRYHUVWDUWXSVWDELOL]DWLRQDQGXQIRUHVHHQRSHUDWLQJQHHGV
ZLWKRXWUHOLDQFHRQLPPHGLDWHUHYHQXHSHUIRUPDQFH
E 7KHEXVLQHVVGRHVQRWGHSHQGRQVSHFXODWLYHRUKLJKOHYHUDJHILQDQFLQJWRVXVWDLQRSHUDWLRQ
7KLVOHYHORIUHVHUYHFDSDFLW\SURYLGHVIOH[LELOLW\WRPDQDJHVHDVRQDOIOXFWXDWLRQVDQGXQH[SHFWHGH[SHQVHVZKLOHPDLQWDLQLQJFRQVLVWHQW
VHUYLFH
)LQDQFLDO'LVFLSOLQH
F &RQVHUYDWLYHOHYHUDJHDSSURDFK
G $FWLYHPRQLWRULQJRIRSHUDWLQJFRVWV
H 2ZQHURSHUDWRULQYROYHPHQWDQGFDSLWDODFFHVVVXSSRUWVFRVWFRQWURODQGGHFLVLRQPDNLQJ
7KLVILQDQFLDOVWUXFWXUHVXSSRUWVUHOLDELOLW\DQGFRQWLQXLW\WKURXJKRXWWKHOHDVHWHUP
48
64
Jaffa Kitchen LLC, Business Plan Page 4
5LVN0DQDJHPHQW 5HVLOLHQFH
7KHEXVLQHVVPRGHOLVLQWHQWLRQDOO\GHVLJQHGWRUHPDLQRSHUDWLRQDOO\YLDEOHXQGHUFRQVHUYDWLYHGHPDQGDVVXPSWLRQV 6HDVRQDOLW\
D 6WDIILQJOHYHOVDQGKRXUVFDQEHPRGHVWO\DGMXVWHGGXULQJVKRXOGHUVHDVRQV
E &RUHVHUYLFHUHPDLQVDYDLODEOH\HDUURXQG
F 7DNHRXWGHPDQGSURYLGHVEDVHOLQHUHYHQXHGXULQJVORZHUSHULRGV
&RVW&RQWURO
d. Lean staffing model
e. Limited fixed costs relative to full-service restaurant formats
f. Minimal exposure to construction or build-out overruns
0DUNHW5LVN
g. Middle Eastern cuisine has demonstrated broad appeal and strong takeout demand
h. Menu naturally accommodates vegetarian, vegan, and gluten-free preferences without premium pricing
/RQJ7HUP2XWORRN $OLJQPHQWZLWK&LW\2EMHFWLYHV
The proposed business plan prioritizes:
a. Long-term stability over rapid expansion
b. Affordability and accessibility for the Aspen community
c. Year-round service
d. Responsible financial management
This approach aligns directly with the City of Aspen’s stated goals for the Rio Grande Building and supports a dependable,
community-oriented restaurant presence
&RQFOXVLRQ
Jaffa Kitchen’s operating and financial model is proven, conservative, and well-suited to Aspen’s seasonal environment.
Through disciplined cost control, adequate capital reserves, and modest growth expectations, the proposed operation is
positioned to serve as a reliable community asset throughout the full lease term.
Any additional questions or information needed can be immediately answered and supplied.
49
65
Jaffa Kitchen LLC, Business Plan Page 5
(QG RI 6XPPDU\
Jaffa Kitchen LLC
(Supplemental to RFP “Submission
Requirements)
50
66
Section 3: Concept & Operations
Jaffa Kitchen would be a welcome addition to Aspen’s culturally diverse dining experience by offering a
family-friendly option for the Rio Grande space with dishes that will really spice up the scene.
●Anticipated personnel needs: We plan on starting out with our current personnel, which includes
one cashier, two to three cooks, and a manager on duty, who will be covered by one of the
owners, Doina.
●A concept menu - must include pricing:
51
67
Our homemade desserts, priced from $6 to $ 7.90, feature original recipes by Doina herself. Our deli case
features hummus, baba ganoush, and a variety of specialty salads made from scratch. Our coffee options
are a local favorite, and our fresh-baked croissants and baguettes are in high demand and a popular
breakfast option.
●Overall theme, design, and décor, special design features: Similar to our current setup, with bright
colors and modern design reflecting the Jaffa Kitchen themes and colors the community has
grown to love. The main change to the existing counter will reflect our counter style, which has
space for pastries and TVs to display the menu:
●Proposed daily / weekly hours of operation: Serving Daily 8am—8pm, possibly extend until 9pm.
●Please touch upon your ability to remain open during the offseason and any anticipated annual
closure periods: We proudly serve our community year-round, and only close on major holidays
such as Easter, 4th of July, Thanksgiving, and Christmas. New Year's will be open, but with
52
68
limited hours. During the off-season, specifically in May, we may have shorter hours to still
accommodate local businesses.
●Proposed kitchen equipment: We’re going to keep everything except 3 pieces. Please review the
following photos, which outline the three pieces to remove and the six pieces Jaffa Kitchen will
provide.
Equipment to remove:
Equipment Jaffa Kitchen will bring (pictures of items can be found on the following pages):
1. Commercial Vertical Broiler 4 Burners - Model SGN6-C4
2. 171-0038 60” Square Self Contained Full Service Bakery Display Cooler
3. 171-0037 48” Square Self Contained Full Service Bakery Display Cooler
4. Vollrath CT2BH-120400 JT1BH Conveyor Toaster with 2 1/2" Opening - 120V, 1600W
5. Cooking Performance Group 36CBRRBNL 36" Gas Radiant Charbroiler with 36", 2 Drawer
Refrigerated Chef Base - 120,000 BTU
6. Cooking Performance Group COF-T4-M Double Stacked Electric Thermostatic 4 Tray Full Size
Convection Oven with Moisture Injection and Stand - 208-240V
●Target market, planned integration and compatibility with the surrounding attractions (park,
theater, offices, etc.): Our cuisine is beloved all over the world and will be a healthy alternative for
the avid hikers in the area, business patrons, families and friends looking for a bite to eat after
enjoying a show at the local theater, athletes from nearby parks who can easily satisfy their food
cravings, and visitors needing a good meal while out enjoying the surrounding shops. With a fast
turnaround to get the restaurant open, we’ll be ready to serve everyone who visits our beautiful
town of Aspen in a timely manner.
Section 4: Lease Rate/Term
Proposers shall review the proposed lease term and renewal options in Exhibit C. Should any
amendments be desired please outline which terms and your proposed amendment: Please review the
following terms Rio Grande Building Restaurant Lease Edits, which can be found following the equipment
pictures.
53
69
Masala & Curry
54
70
Masala & Curry — Proposal for Rio Grande Building Restaurant Space (2025-700)
Submitted to: City of Aspen, Purchasing / Asset Management — Rio Grande Building RFP
Submitted by: Masala & Curry
Owners/Partners: Oscar Clinton (50%), Dhananjaya Airee (50%)
Section 1: Company Introduction & Ownership
Masala & Curry is a restaurant business based in Glenwood Springs, Colorado (730 Cooper
Ave, Glenwood Springs, CO 81601). The company is equally owned by Oscar Clinton (50%)
and Dhananjaya Airee (50%).
Our team brings a combination of culinary experience, operational expertise, and a
commitment to affordable, family-friendly dining. We are financially stable and ready to
commit capital toward lease obligations, build-out, and ongoing operations.
Section 2: Qualifications
•Masala & Curry currently operates a successful restaurant at the address above,
•demonstrating our ability to manage kitchen operations, serve customers, maintain
quality, and run a sustainable business.
•We have no history of bankruptcy or unresolved legal disputes.
•We are prepared to provide financial documentation (bank letters, capital evidence)
•and references upon request.
•References:
1. Jusylucy Steak House, 308 7th St, Glenwood Springs, CO 81601 - proprietor/
business contact for reference.
2. Super Taco, 820 Grand Ave, Glenwood Springs, CO 81601 - proprietor/business
contact for reference.
3. Cooper Liquor Store, 732 Cooper Ave, Glenwood Springs, CO 81601 - proprietor/
business contact for reference.
These references reflect our position in the local food & beverage community and attest
to our reputation and business conduct.
55
71
Section 3: Concept & Operations
We propose two alternative restaurant configurations (per the RFP’s allowance of up to two
concepts):
Concept A — Full-Service Masala & Curry (Dine-In + Take-Out + Delivery)
Concept & Theme:
•Authentic Nepali / Indian / Himalayan cuisine in a warm, family-friendly sit-down
atmosphere.
Space Use & Footprint:
•Utilizes the full 1,687 sq. ft. indoor space. Plan for dining seating ~ 30-50 guests,
kitchen/prep, storage, and take-out/delivery counter. Outdoor patio (850 sq. ft., as
allowed) could be used for additional seating during good weather.
Menu & Pricing (indicative):
•Full entrée offerings (curries, tandoori dishes, momos, vegetarian/vegan plates),
consistent with current Masala & Curry menu. We refer to our existing menu at
•masalaandcurry.com/menu.
Operations:
•Daily lunch and dinner service, open year-round. Take-out and delivery available to
serve downtown workers, visitors, park users, and residents. Seasonal adjustments
managed by leveraging take-out and delivery to maintain volume.
Equipment & Fixtures:
•Evaluate existing City-provided equipment per Exhibit B; we will specify which items
to retain after walk-through. Additional required equipment (OVEN/tandoor or grill,
prep tables, POS system, seating, décor) to be furnished by us.
56
72
Staffing:
•Small full-service kitchen and front-of-house staff; staffing levels adapt to demand
(seasonal peaks and lows).
Concept B — Masala & Curry Express (Fast-Casual, Counter Service, High Efficiency)
Concept & Theme:
•Fast-casual South Asian kitchen offering build-your-bowl style meals (rice/naan
wraps/salads + protein/curry + add-ons), designed for quick service, affordability,
and high throughput — ideal for lunch, take-out, delivery, and after-event crowds
from nearby parks and public spaces.
Space Use & Footprint:
•Efficient use of 1,687 sq. ft. space; fewer tables needed (approx. 20-30 seats),
emphasis on counter-service, pickup/delivery station, small prep and kitchen area.
Outdoor patio can supplement seating during favorable weather.
Menu & Pricing (proposed):
o Build-Your-Bowl: base (rice, biryani rice, naan wrap, salad) + protein/curry
(e.g.,
o chicken tikka, butter chicken, veggie curry, lentil curry, tandoori strips) +
add-ons (momo dumplings, naan, chutneys).
o Price range: $12–$18 per bowl/meal, ensuring affordability for locals,
workers, families.
o Side items: Samosas, naan, chutneys; drinks: chai, mango lassi, soft drinks.
Operations:
•Counter-service, quick turnover, strong take-out & delivery focus. Open daily lunch
and dinner year-round. Especially well-suited for busy downtown workers, park
visitors, theater/skate-park visitors. Lower overhead and strong viability during off-
peak seasons.
Equipment & Fixtures:
57
73
•Retain useful City-provided kitchen items post-walk-through; bring additional
necessary equipment (grill/tandoor or oven, prep counters, POS, display/counters,
seating/benches).
Why Two Concepts: Providing both a full-service and a fast-casual option offers flexibility
to the City — whichever model better serves the community (sit-down vs quick affordable
meals). It also showcases our readiness to adapt to demand and seasonal fluctuations.
Section 4: Lease Rate / Term Proposal
•We are amenable to the City’s proposed lease term: a five-year initial lease with one
five-year renewal option (maximum 10 years)
•We understand that the City anticipates a “below-market” lease rate to support an
•operator delivering year-round, affordable, family-friendly service.
•We propose a base monthly rent in accordance with market norms (to be
negotiated), plus a percentage of gross sales share or a hybrid fixed + percentage
model, aligned with what the RFP describes as acceptable.
•We accept responsibility for utilities (electric, water, gas, sewer) on a prorated
•basis, as required; we will also comply with grease-trap cleaning (four times per
year) if kitchen grease trap is used.
•Tenant improvements (additional kitchen equipment, seating, décor, furnishings)
•will be provided by us, as permitted in the RFP; we are prepared to proceed quickly
after walk-through to meet an expedited opening.
Section 5: References
As above — the three local business references (Jusylucy Steak House; Super Taco; Cooper
Liquor Store) to attest to our business reputation, community relationships, and credibility.
Additional Notes & Commitment
58
74
•We understand the City expects a year-round operation, serving locals, workers,
park-goers, families, and visitors, with affordable, non-gourmet fare, in a
“community-friendly, family-friendly” restaurant model.
•We will ensure the indoor and outdoor (patio) seating area meets safety,
cleanliness, and quality standards, and abide by noise ordinances / sound-level
limits for exterior seating areas.
•We are committed to hiring local staff, engaging with the local community, and
offering a consistent, reliable dining option to Aspen residents and downtown
workers.
Why Masala & Curry Is a Strong Candidate
•We bring an existing, proven restaurant operation with experience and financial
•readiness.
•Our two proposed models offer flexible solutions: a full-service sit-down restaurant
•And a fast-casual, affordable counter-service option — leaving the City flexibility to
choose what best serves the community.
•We align with the City’s goals: year-round service, affordability, family-friendly,
dining, community engagement, and efficient use of the designated 1,687 sq. ft.
space, plus potential patio seating.
•Our readiness to commit capital, manage tenant improvements, and operate
efficiently — including take-out/delivery and seasonal demand — reduces risk to the
City, ensures reliability, and honors the historic use of the space as a “locals’
affordable restaurant.”
Conclusion
Masala & Curry respectfully submits this proposal — with two concept options — for
lease and operation of the Rio Grande Building’s 1,687 sq. ft. restaurant space at 455 Rio
Grande Place.
We are confident that, if selected, we will deliver a vibrant, community-oriented, affordable
restaurant that honors the tradition of the space and serves the broad spectrum of Aspen
residents, workers, tourists, and families. We look forward to the opportunity to proceed to
walk-through, discuss lease terms, and begin preparations for opening.
59
75
Contact:
Oscar Clinton & Dhananjaya Airee
Masala & Curry
730 Cooper Ave, Glenwood Springs, CO 81601
Email: Info@masalaandcurry.com
60
76
Napolita Pizzeria & Wine Bar
61
77
Napolita Pizzeria & Wine Bar
700 Rio Grande Building Restaurant RFP
2025
62
78
Transmittal Letter
December 30, 2025
City of Aspen
Purchasing Office
427 Rio Grande Place
Aspen, CO 81611
Re: RFP No. 2025-700 – Rio Grande Building Restaurant Rental Space
Dear Evaluation Committee Members,
CCH Management, LLC (d/b/a Vandalay Brands) respectfully submits the enclosed
proposal in response to RFP No. 2025-700 for the lease and operation of the restaurant
space located within the Rio Grande Building at 455 Rio Grande Place.
The Rio Grande Building has long served as a gathering place for the Aspen community,
and we appreciate the City Council’s direction to maintain a restaurant at this location
that is affordable, family-friendly, and open year-round. Our proposed Napolita concept is
intentionally designed to meet these goals by offering approachable Italian-inspired fare,
consistent value, and a welcoming environment for residents, workers, and visitors who
frequent the surrounding parks, civic offices, and cultural destinations.
Napolita is built on the belief that a neighborhood restaurant should be
dependable, accessible, and inclusive. Our operational focus emphasizes efficient
service, straightforward menus, and pricing that encourages repeat visits from local
families while remaining appealing to visitors. The concept outlined in our proposal
is well suited to the character and daily rhythm of the Rio Grande area and is structured
to remain open and active throughout all seasons.
If selected, we are prepared to work collaboratively with the City of Aspen to move
efficiently toward opening and to operate the restaurant in a manner that reflects the
City’s expectations for quality, service, and community benefit. We would be honored
to contribute to the continued success and vibrancy of the Rio Grande Building.
Thank you for your time and consideration.
Sincerely,
Nicholas J. Hynes
CEO & Partner
CCH Management, LLC847-922-3717
nick@vandalaybrands.com
63
79
Vandalay Brands is a hospitality ownership and
management company with a proven history
of developing, operating, and sustaining
successful, community-focused restaurant
concepts. Since its founding, the company
has built a diverse portfolio centered on
approachability, operational discipline, and
consistent execution across both neighborhood
restaurants and high-traffic public destinations.
At the core of the Vandalay Brands portfolio
is Napolita Pizzeria & Wine Bar, a concept
rooted in the traditions of Neapolitan pizza and
Italian hospitality. Designed to be welcoming,
family-friendly, and accessible, Napolita has
two Chicago-based locations and celebrated
its 10-year anniversary this year. The brand’s
longevity is driven by its focus on quality
ingredients, efficient service, and pricing that
encourages regular visits from locals, families,
and visitors alike. Napolita’s success reflects
a commitment to consistency, simplicity, and
creating an environment where guests of all
ages feel comfortable gathering year-round.
In addition to Napolita, Vandalay Brands
operates several high-volume, destination-
driven venues across Chicago and Milwaukee
that serve as integral parts of their surrounding
communities. These include Millennium Hall, a
large-scale restaurant and beer garden located
adjacent to one of Chicago’s most active public
parks, as well as prominent lakefront
restaurants such as The Dock at Montrose
Beach, The Dock at Bradford Beach, and Caffè
Oliva at Ohio Street Beach. Collectively, these
locations serve hundreds of thousands of
guests annually and require a high level of
operational coordination, staffing expertise,
and the ability to deliver high-quality,
affordable, and family-friendly food service in
dynamic, outdoor, high-traffic environments.
Across its portfolio, Vandalay Brands
brings extensive experience operating
in public-facing spaces, integrating
seamlessly with nearby parks, civic uses,
and cultural attractions. From intimate
neighborhood restaurants to large-scale
park-adjacent destinations, Vandalay Brands
has consistently demonstrated its ability to
balance quality, affordability, and operational
excellence. This experience positions
the company well to deliver a year-round
restaurant that honors the longstanding role
of the Rio Grande Building while providing a
reliable, welcoming gathering place for the
Aspen community.
History of Vandalay Brands
SECTION 1, COMPANY INTRODUCTION
64
80
Dennis Chookaszian is a partner in Vandalay
Brands and brings decades of hospitality,
ownership, and executive leadership
experience to the organization. He has
been connected to Aspen since 1962 and
has owned property in the community
since 1985, giving him a long-standing
understanding of Aspen’s character,
development principles, and commitment to
accessible, community-oriented hospitality.
Dennis is an owner of the Annabelle Inn
in Aspen, a family-owned property that
has operated since 1999 with a focus on
affordability and preservation of historic
architecture. His approach to hospitality
emphasizes long-term stewardship, local
integration, and maintaining the scale and
character that define Aspen’s small-lodge
tradition.
Within Vandalay Brands, Dennis is a majority
owner of ten restaurants and has helped
guide the group’s growth around the
principles of outstanding service, family-
friendly environments, and approachable
pricing. The company operates with more
than 500 employees and has extensive
experience delivering both daily restaurant
service and large-scale event operations.
Dennis also brings significant executive
leadership experience, having previously
served as Chief Executive Officer of CNA,
a Fortune 500 company. Additionally,
he served as Chief Executive Officer of
mPower, as well as Chairman of over
twenty companies.
Dennis Chookaszian
Partner
•Former Fortune 500 CEO
with deep financial and
governance expertise
•National leadership
experience in financial
oversight and risk
management
•Proven steward of long-
term, community-facing
organizations in Chicago,
Aspen, and nationwide
•26 years in hospitality
Organizational Structure
SECTION 1, COMPANY INTRODUCTION
His involvement in the proposed
Napolita concept reflects a commitment
to delivering a reliable, affordable
restaurant well suited to its park-
adjacent location, with full-service
dining complemented by takeout and
delivery, and a thoughtful connection
to the surrounding community.
65
81
Michael Chookaszian is a partner in Vandalay
Brands, where he plays a key ownership
role in the long-term development and
oversight of the hospitality group’s portfolio.
His involvement supports the company’s
focus on responsible growth, financial
discipline, and operating restaurants that
are integrated into their surrounding
communities.
Michael is also an owner of the Annabelle Inn
in Aspen, providing him with direct, hands-on
experience in the Aspen market and
a strong understanding of the operational
realities of year-round hospitality in a
resort environment. His ownership reflects
a commitment to maintaining accessible,
well-managed properties that serve both
local residents and visitors.
In addition to hospitality, Michael brings
extensive experience in real estate
ownership and management, with a
background in acquiring, developing,
and operating commercial and mixed-use
properties. This perspective strengthens
the partnership’s ability to approach the
Rio Grande Building with a long-term
ownership mindset focused on stewardship,
maintenance, and financial sustainability.
Michael’s involvement in the proposed
Napolita concept reinforces the ownership
group’s commitment to stable partnership,
local investment, and delivering a
dependable, family-friendly restaurant aligned
with the City of Aspen’s goals for the space.
Michael Chookaszian
Partner
Organizational Structure
SECTION 1, COMPANY INTRODUCTION
•Co-Founder of a multi-
concept hospitality
group with proven
operational scale
•Long-term Aspen
property owner with deep
local market knowledge
•Experienced steward of
public-facing, year-round
hospitality assets
in Chicago and Aspen
•26 years in hospitality
66
82
Nicholas J. Hynes is the co-founder
and Chief Executive Officer of Vandalay
Brands, where he leads the strategic
vision, brand development, and day-to-
day operational oversight of a diverse
hospitality portfolio. Since founding the
company in 2010, Nicholas has focused
on creating restaurant concepts that
are approachable, family-friendly, and
designed for long-term success in high-
traffic and destination environments.
With more than 15 years of experience
operating high-volume food and
beverage businesses, Nicholas brings
a disciplined, owner-operator mindset
to every project. His background in law
and finance informs a leadership style
rooted in structure, accountability, and
thoughtful growth. Prior to entering the
hospitality industry full-time, Nicholas
practiced law and continues to serve as
Chief Legal Officer and Principal at Key
Tower LLC, providing ongoing expertise in
governance, compliance, and lease-based
operations.
Nicholas has extensive experience guiding
restaurants through seasonal fluctuations,
tourism-driven demand, and the
operational realities of year-round service.
His approach emphasizes operational
efficiency, consistent guest experience,
and affordability without compromising
quality—principles that directly align
with the City of Aspen’s goals for the Rio
Grande Building restaurant.
Nicholas Hynes
Founder & Chief Executive Officer
Under his leadership, Vandalay Brands
has successfully developed and scaled
multiple concepts that integrate seamlessly
into their surrounding communities and
public spaces. Nicholas’s involvement in
the proposed Napolita concept reflects
a commitment to responsible ownership,
hands-on leadership, and delivering a
dependable, family-friendly restaurant that
serves both local residents and visitors
throughout the year.
Organizational Structure
SECTION 1, COMPANY INTRODUCTION
•CEO & Co-Founder of
multi-concept restaurant
group, overseeing a
diversified hospitality
portfolio with year-round
and seasonal operations
across Illinois and Wisconsin
•Proven operator of high-
traffic, public-facing
venues, including large-
scale park, waterfront, and
civic-adjacent locations
•Deep experience balancing
affordability, quality,
and service consistency
in community-oriented
restaurant concepts
•Named one of Modern
Luxury’s 2025 Chicago
Innovative Leaders
•15 years in hospitality
67
83
Joshua Schonfeld is a Partner and Chief
Operating Officer of Vandalay Brands,
where he oversees operational strategy,
financial performance, and day-to-day
execution across a diverse portfolio of
high-volume, full-service restaurants and
seasonal destinations. He brings deep
expertise in managing restaurants in resort
and tourism-driven environments, with a
strong focus on consistency, affordability,
and year-round operational success.
Joshua has extensive experience
operating in mountain and seasonal
markets. He previously served as General
Manager of Spruce Saddle Lodge in
Beaver Creek, Colorado, where he led
operations for a high-volume ski lodge
serving thousands of guests daily. In
this role, he managed staffing, service
flow, and food operations in an intensely
seasonal environment, successfully
balancing speed, quality, and profitability
while improving guest satisfaction and
increasing revenues.
Throughout his career, Joshua has
specialized in scaling operations that
experience significant fluctuations
in volume due to weather, tourism,
and seasonal demand. His operational
leadership includes staffing and training
large teams, managing P&L performance,
controlling costs, and implementing
systems that allow restaurants to remain
efficient and accessible without sacrificing
guest experience.
Joshua Schonfeld
Partner & Chief Operating Officer
At Vandalay Brands, Joshua plays
a central role in new restaurant
openings, operational planning, vendor
negotiations, and long-term financial
sustainability. His hands-on approach
and background in resort-based
hospitality make him uniquely qualified
to support the proposed Napolita
concept in Aspen, ensuring it delivers
dependable, family-friendly service that
meets the needs of local residents while
accommodating peak visitor demand
throughout the year.
Organizational Structure
SECTION 1, COMPANY INTRODUCTION
•Chief Operating Officer
& Partner at multi-
concept restaurant group,
responsible for day-to-day
operations across a diverse
hospitality portfolio
•Extensive experience
scaling and stabilizing
restaurant operations,
including staffing, systems,
vendor relationships, and
service standards
•Proven ability to deliver
consistent, affordable
food and beverage service
in both year-round and
seasonal environments
•22 years in hospitality
68
84
Luke Cholodecki is a co-founder and
partner of Vandalay Brands and has been
involved in the company’s growth and
strategic direction since its founding in
2010. He helped build Vandalay Brands
from a single restaurant concept into
a diverse portfolio of full-service
restaurants and destination dining
venues, supporting long-term growth
grounded in operational discipline and
strong ownership oversight.
Luke brings a background in law and
business leadership that informs his
role as a partner, particularly in areas
of governance, risk management, and
strategic planning. Prior to and alongside
his work in hospitality, he practiced as
a contract and employment attorney,
advising organizations on compliance,
workforce structure, and operational
policies. This experience supports a
structured and responsible approach to
restaurant ownership and management.
In addition to his role at Vandalay Brands,
Luke is a co-founder and Chief Executive
Officer of Key Tower LLC, where he has
led the growth of a telecommunications
services company through sustained
expansion and operational scaling. His
experience building and managing
businesses across industries strengthens
the ownership group’s ability to support
long-term planning, financial stability,
and operational resilience.
Luke Cholodecki
Partner & Co-Founder
Luke’s involvement in the proposed
Napolita concept reflects a commitment
to hands-on partnership, sound
governance, and supporting restaurant
operations designed to be accessible,
family friendly, and aligned with
community expectations.
Organizational Structure
SECTION 1, COMPANY INTRODUCTION
•Co-founder of a multi-
concept hospitality
group with a diversified
portfolio of full-service
and destination dining
concepts.
•Brings legal and
executive background
that supports strong
governance, compliance,
and thoughtful business
decision-making across
hospitality operations.
•Co-founder and Chief
Executive Officer of Key
Tower LLC, contributing
experience in scaling
organizations, financial
oversight, and long-term
strategic planning.
•15 years in hospitality
69
85
Jeff Smith
Director of Operations
Jeff Smith serves as Director of Operations
for Vandalay Brands, overseeing operational
execution, financial performance, and
service standards across the company’s
portfolio of full-service restaurants and
seasonal destinations. He brings decades of
experience leading high-volume restaurant
operations with a focus on consistency,
affordability, and disciplined execution.
Jeff has a longstanding personal and
professional connection to Aspen, having
lived in the community from 1988 through
1996. During that time, he worked across
a range of hospitality and service roles,
including hotel operations, restaurant
leadership, and seasonal food and
beverage venues, building a firsthand
understanding of Aspen’s hospitality
culture, service expectations, and
seasonal dynamics.
Following his time in Aspen, Jeff went on
to build an extensive multi-unit restaurant
operations career, including nearly two
decades in executive leadership roles
with national and regional restaurant
organizations. His background includes full
P&L responsibility, large-scale staffing and
training, and oversight of complex operating
systems across multiple markets.
At Vandalay Brands, Jeff works closely
with ownership and executive leadership
to support new restaurant openings, staff
development, and long-term operational
sustainability.
Organizational Structure
SECTION 1, COMPANY INTRODUCTION
•Director of Operations at
multi-concept restaurant
group, supporting daily
execution across multiple
concepts and service models
•Extensive experience
in staffing, training,
and on-site operational
support, ensuring
consistency across high-
volume and seasonal venues
•Strong focus on service
standards, food safety, and
operational compliance in
public-facing environments
•20 years in hospitality
His combination of early Aspen
experience and senior operational
leadership strengthens the team’s
ability to deliver a dependable,
family-friendly restaurant
that aligns with the City of
Aspen’s expectations for quality,
accessibility, and year-round service.
70
86
Tracy Krause brings deep, Aspen-
based hospitality experience as General
Manager of the Annabelle Inn, a 35-room
boutique property she has led since 2020.
She oversees daily operations, guest
services, and staff management in a
high-demand resort environment, with
a proven track record of exceptional
service, repeat visitation, and strong
community presence, directly aligned with
Aspen’s service and operational standards.
Tracy Krause
Operations Services
Local Leadership
SECTION 1, COMPANY INTRODUCTION
David Dyer brings long-standing Aspen
hospitality and food and beverage
experience as Assistant Manager of the
Annabelle Inn, where he supports front
desk operations, guest services, group
sales, and food and beverage coordination
in a seasonal resort setting. His decades
of involvement in Aspen’s cultural and
hospitality landscape reflect deep local
knowledge, public-facing leadership,
and operational experience directly
relevant to Aspen and comparable
resort destinations.
David Dyer
Operations Services
71
87
Vandalay Brands is a hospitality ownership and operating company founded in
2010. The leadership team includes Nicholas J. Hynes, Founder and CEO; Luke
Cholodecki, Co-Founder & Partner; Partners Mike Chookaszian and Dennis
Chookaszian; Joshua Schonfeld, Partner and Chief Operating Officer; and Jeff
Smith, Director of Operations. Together, they oversee a portfolio of full-service
restaurants and destination dining venues, with direct involvement in concept
development, staffing, financial management, and daily operations, ensuring
consistent, reliable, and community-focused food and beverage service.
Venue Experience
Vandalay Brands, Chicago, IL
Operational Experience
& Qualifications
SECTION 2, QUALIFICATIONS
Millennium Hall – Millennium Park, Chicago
• Contract Dates: 2021 – Present
• Description: Sole food and beverage operator in Millennium Park,
including oversight of Chicago’s largest beer garden and exclusive rights
during high-profile events such as:
• Chicago Blues Festival (500,000+ attendees)
• Chicago Jazz Festival (170,000+ attendees)
• Gospel Music Fest (10,000+ attendees)
• Sueños Music Fest (130,000+ attendees)
• Private and public concerts at Pritzker Pavilion (up to 10,000 capacity)•Development Costs: Estimated $5.5M+
•Revenues Paid to City of Chicago (2022–2024): $287K | $321K+ | $333K+
•Annual Visitors: ~25 million
The Dock at Montrose Beach – Chicago Park District
• Contract Dates: 2010 – Present
• Description: Full-service lakefront restaurant
and bar at Chicago’s largest beach•Development Costs: Estimated $5.5M+
•Revenues to Park District (2022–2024): $246K | $293K | $314K
Caffè Oliva – Ohio Street Beach, Chicago Park District
• Contract Dates: 2011 – Present
• Description: Beachside café and bar serving one of
Chicago’s most popular lakefront spots•Development Costs: Estimated $5.5M+
•Revenues to Park District (2022–2024): $224K | $258K | $279K
Napolita Pizzeria & Wine Bar – Wilmette, IL & Northbrook, IL
• Contract Dates: 2015 – Present
• Description: Casual, family-friendly pizzeria offering high-quality, affordable pizzas
and Italian favorites designed for everyday dining, takeout, and community gathering•Development Costs: Estimated $2M+
•Annual Sales (2022–2024): $3.07M | $3.48M | $5.43M
72
88
The Annabelle Inn is a boutique hotel in Aspen owned by Dennis Chookaszian
and Michael Chookaszian, who together also hold a 50 percent ownership interest
in Vandalay Brands. This shared ownership creates operational and strategic
alignment between the Annabelle Inn and the proposed Napolita concept. The
Chookaszians bring direct experience operating year-round hospitality in Aspen, with
a focus on dependable service, community integration, and long-term stewardship.
The Annabelle Inn – Aspen, Colorado
•Contract Dates: 1999 – Present
•Description: 35-room boutique hotel and adjacent cabin that operate year-round and
emphasize reliable service and a welcoming, unpretentious guest experience.
•Development Costs: Estimated $20M+
•Annual Rooms Sold: ~6,000
Venue Experience
Annabelle Inn, Aspen, CO
Operational Experience
& Qualifications
SECTION 2, QUALIFICATIONS
73
89
Dennis Chookaszian and Nicholas J. Hynes bring extensive experience operating
food and beverage concepts in Chicago’s most prominent park and cultural settings,
including programming and service connected to Theater on the Lake. Their work
includes managing seasonal volume, event-driven demand, and diverse guest
audiences in public destinations, directly aligning with the operational, community-
focused, and tourism-driven requirements of Aspen and comparable resort markets.
Venue Experience
Theater on the Lake, Chicago, IL
Operational Experience
& Qualifications
SECTION 2, QUALIFICATIONS
Theater on the Lake – Chicago Park District
•Contract Dates: October 2017 – October 2032
•Description: Sole operator of the historic lakefront venue, including indoor/
outdoor restaurant service, concessions, and event management
•Development: Led the full renovation and reopening of the 100-year-old building,
in partnership with the Park District
•Annual Gross Sales: Approx. $6M/year
•Revenue Agreement: Revenue share with the Chicago Park District
•Annual Visitors: Hosts ~240 events per year, including weddings, concerts, galas,
and public events
74
90
Josh Schonfeld brings direct resort-market experience through his leadership
at Spruce Saddle Lodge in Beaver Creek, where he oversaw food and beverage
operations serving a high-volume, seasonal mountain audience. His background
includes managing peak winter demand, delivering consistent guest experiences
in a destination setting, and operating within the expectations of a premier resort
community, closely aligning with Aspen’s service, quality, and operational standards.
Venue Experience
Spruce Saddle Lodge, Beaver Creek, CO
Operational Experience
& Qualifications
SECTION 2, QUALIFICATIONS
Spruce Saddle Lodge – Beaver Creek, CO (Vail Resorts)
•Contract Dates: 2004 – 2009
•Description: Ski lodge serving 5,000–8,000 guests per day
in a food court format
•Role: General Manager
•Development/Scope: Oversaw operations of multiple concepts within
the lodge, ranging from quick service to full-service offerings
•Annual Gross Sales: $15M
•Annual Visitors: ~1.2 million
75
91
Jeff Smith brings deep, firsthand Aspen hospitality experience rooted in his early
career at some of the town’s most iconic food and beverage destinations. During
eight years living and working in Aspen, he held front-of-house leadership roles
at Gordon’s, serving as Closing Manager, and The Double Diamond, where he
oversaw key service operations. This foundation in Aspen’s demanding, locals-driven
bar and restaurant scene informs his ability to build concepts that resonate with
year-round residents while performing at a resort-market level.
Venue Experience
Gordon’s and The Double Diamond, Aspen, CO
Operational Experience
& Qualifications
SECTION 2, QUALIFICATIONS
Gordon’s – Aspen, CO
•Contract Dates: 1984–1990
•Description: A pioneering Aspen restaurant that introduced a chef-
led dining concept to the local market, balancing culinary innovation
with consistent service and an approachable atmosphere.
•Role: Closing Manager
The Double Diamond – Aspen, CO
•Contract Dates: 1991–2003
•Description: A well-known Aspen bar and restaurant recognized for
its lively atmosphere, efficient service, and role as a go-to gathering
place for the local community.
•Role: Front of House Operations
76
92
Financial Projections
SECTION 2, QUALIFICATIONS
Year 1
Year 6
Year 2
Year 7
Year 3
Year 8
Year 4
Year 9
Year 5
Year 10
Years 1–5
Years 6–10 GRAND
TOTAL
Labor
Labor
Food
Food
Other Ops
Other Ops
Utilities
Utilities
All Other
All Other
EBITDA
EBITDA
Alcohol
Alcohol
Total Rent
Total Rent
Other
Other
COGS
COGS
Sales
Sales
Base Rent
Base Rent
% Rent
% Rent
729,000
1,160,933
81%
81%
81%
81%
81%
81%
81%
81%
81%
81%
81%
81%81%
16.5%
16.5%
16.5%
16.5%
16.5%
16.5%
16.5%
16.5%
16.5%
16.5%
16.5%
16.5%16.5%
2.5%
2.5%
2.5%
2.5%
2.5%
2.5%
2.5%
2.5%
2.5%
2.5%
2.5%
2.5%2.5%
7.5%
6.8%
7.2%
6.7%
7%
6.6%
6.9%
6.6%
6.9%
6.6%
7.1%
6.7%6.8%
27%
25.5%
27%
25.5%
26%
26%
26%
25.5%
25.5%
25.5%
26.2%
25.5%
41%
33%
38%
33%
38%
33%
35%
33%
35%
33%
37.1%
33%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
7%
1.8%
1.3%
1.4%
1.3%
1.4%
1.3%
1.3%
1.3%
1.3%
1.3%
1.4%
1.3%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%
12%12%
1.4%
7%
34.8%
25.8%
7.4%
14.5%
8.6%
14.6%
11.7%
14.6%
12.3%
14.5%
9.2%
14.5%12.2%
3.7%
14.4%
148,500
236,486
22,500
35,831
900,000
1,433,250
67,480
67,480
67,480
67,480
67,480
67,480
67,480
67,480
67,480
67,480
337,400
337,400
15,325
33,071
20,325
35,325
22,825
35,325
26,075
35,325
84,550
168,533
82,805
100,551
87,805
102,805
90,305
102,805
93,555
102,805
421,950
505,933
310,500
383,753
325,000
395,250
338,000
395,250
348,075
395,250
1,564,575
1,934,981
67,480
96,967
243,000
365,479
369,000
472,973
437,000
496,621
475,000
511,500
455,000
511,500
477,750
511,500
2,213,750
2,504,094
80,500
105,344
87,500
108,500
91,000
108,500
95,550
108,500
417,550
531,171
63,000
100,328
16,000
18,548
16,480
19,105
16,974
19,678
17,484
20,268
18,008
20,876
84,946
98,476
108,000
171,990
138,000
180,590
150,000
186,000
156,000
186,000
163,800
186,000
715,800
910,580
84,715
218,950
107,721
226,267
152,211
225,677
168,262
225,069
546,429
1,102,928
33,520
206,965
-
29,488
931,500
1,218,979
1,012,500
1,255,500
1,053,000
1,255,500
1,105,650
1,255,500
4,831,650
6,146,412 10,978,062
2,236,272
13,553,163
338,829
674,800
253,083
3,499,556
4,717,844
948,721
183,422
1,626,380
1,649,357
927,883
189,750
248,311
206,250
255,750
214,500
255,750
225,225
255,750
984,225
1,252,047
28,750
37,623
31,250
38,750
32,500
38,750
34,125
38,750
149,125
189,704
1,150,000
1,504,913
1,250,000
1,550,000
1,300,000
1,550,000
1,365,000
1,550,000
5,965,000
7,588,163
77
93
Capital Required
Construction, carpentry 75,000
Equipment, incl 2 new ovens 85,000
Paint 10,000
Architectural/Planning 10,000
Signage 12,000
FF&E 20,000
Pre-opening
Grand Total
38,000
250,000
Capital Expenditure
SECTION 2, QUALIFICATIONS
78
94
The proposed concept is a year-round,
affordable, family-friendly pizzeria designed
to serve Aspen locals, City employees, park
users, and visitors in a casual, approachable
setting. Intentionally non-gourmet in
nature, the concept emphasizes quality,
consistency, and ease of access, aligning
with the historic role of the Rio Grande
Building as a dependable neighborhood
restaurant.
The restaurant is centered on an efficient
dine-in model supported by takeout and
delivery, allowing guests to enjoy a relaxed
meal or a quick, convenient option depending
on their needs. The menu is anchored by
pizza, complemented by simple pastas,
salads, and shareable items that appeal to
a wide range of ages and encourage repeat
visits at accessible price points.
Designed to adapt to Aspen’s seasonal
rhythms, the concept can adjust service style
to support nearby parks, Theatre Aspen,
and community events. During peak periods,
festivals, and high-traffic summer months,
operations can shift to a streamlined format
with simplified menus and quick ordering,
allowing the restaurant to function as a
natural food and beverage amenity for
surrounding public spaces.
The concept is under common ownership
with the Annabelle Inn, providing
operational stability, coordinated staffing,
and consistent year-round service. This
shared ownership also supports natural guest
flow, cross-promotion, and long-term local
accountability, strengthening the restaurant’s
integration into the Aspen community.
Community engagement is central to the
concept, with programming such as family-
friendly pizza-making classes and event-
driven offerings designed to complement
seasonal activity in the park. Together,
these elements create a flexible, reliable
dining option that supports public spaces,
remains accessible to the community, and
aligns with the City of Aspen’s goals for the
Rio Grande Building.
Introduction to the Concept
SECTION 3, CONCEPT & OPERATIONS
79
95
Napolita will operate with a flexible, right-sized staffing model designed to support
consistent, year-round service while remaining financially sustainable during both peak
and offseason periods. Staffing levels are intentionally scalable, allowing the operation
to respond to seasonal demand, park activity, special events, and patio usage without
impacting daily service or guest experience.
Key Staffing Approach:
•Flexible, right-sized staffing model to support year-round service sustainably
•Staffing scales with seasonal demand, events, and patio usage without affecting daily
operations
•Full operation staffing of approximately 14–20 team members, including a General
Manager, Kitchen Manager, shift leads, pizza makers, line cooks, and guest-facing staff
•Anticipated reduction to approximately 10–14 team members during offseason months
•Cross-trained staff capable of supporting dine-in, takeout, delivery, and event service
efficiently
•Increased staffing during peak summer and winter seasons to support higher traffic
from nearby parks, cultural venues, and visitors
•Access to a network of temporary and event-based staff to support festivals and
activities taking place in the adjacent park during periods of elevated demand
During offseason months, Napolita will operate with a streamlined but fully functional
team focused on serving local residents, City employees, nearby offices, and year-round
park users. This approach ensures continuity of service while maintaining affordability,
operational stability, and reliable daily hours.
Anticipated Personnel Needs
SECTION 3, CONCEPT & OPERATIONS
80
96
($10–$18)
•Highlands Beef Meatballs
•Fried Mozzarella
•Fried Zucchini
•Sausage & Peppers
•Burrata
($8–$18)
•Aspen Grove Caprese Salad
•Caesar Salad
•Tritata Italiana
($14–$18)
•Prosciutto de Parma Panino
•Caprese Panino
•Meatball Panino
•Après Italiano Panino
Neapolitan or Tavern Style
($18–$28)
•Smuggler Mountain Margherita
•Salame Piccante
•Hot Honey Peperoni
•Salsiccia Rossa
•Prosciutto Arugula
•Funghi Bianca
($15–$22)
•Spaghetti & Meatball
•Rigatoni Vodka
•Maroon Bells Carbonara
($19–$28)
•Eggplant Parmesan
•Chicken Parmesan
•Crystal River Chicken Piccata
($12–$14)
•Buttered Pasta
•Chicken Tenders & Fries
•Aspen Cub 10” Cheese Pizza
•Aspen Cub 10” Pepperoni Pizza
•Aspen Cub 10” Sausage Pizza
($8–$13)
•Alpine Gelato Shake
Chocolate, Vanilla, Strawberry, Chocolate
Chip, Cannoli, Cookies & Cream
•Scoop Gelato
•Scoop Sorbet
•Cannoli
Proposed Menu
lunch & dinner
SECTION 3, CONCEPT & OPERATIONS
SALADSALADSALAD
KIDSKIDSKIDS
PIZZAPIZZAPIZZA
MAINMAINMAIN
PANINOPANINOPANINO
PASTAPASTAPASTA
STARTERSTARTERSTARTER
DESSERTDESSERTDESSERT
81
97
82
98
WALL TILE
COUNTERTOPS
MOSAIC FLOOR TILE
SPANDREL METAL PANEL
WOOD VENEER PANELING
The interior is anchored by a
handcrafted pizza oven that
serves as both a functional
cooking element and a defining
design feature. Surrounded by
durable, warm materials selected for
longevity and ease of maintenance,
the oven reinforces the authenticity
of the concept while creating
a visible point of energy within
the space. Its placement allows
guests to engage with the pizza-
making process, adding a sense of
transparency and interaction that
appeals to families and enhances
the overall dining experience.
Materials & Signature Pizza Oven
SECTION 3, CONCEPT & OPERATIONS
83
99
The interior design is intentionally
warm, approachable, and flexible,
supporting daily service, year-round
operation, and high-volume community
use. The layout prioritizes clear
circulation, adaptable seating,
and comfortable sightlines to
accommodate families, park users,
and nearby office and theater patrons.
Finishes and furnishings are modest
and timeless, ensuring the space
complements the surrounding civic and
cultural environment while remaining
accessible, affordable, and welcoming
to guests of all ages.
Overall Interior Design & Use
SECTION 3, CONCEPT & OPERATIONS
84
100
The outdoor dining area extends the
warmth and energy of the interior into
a relaxed, open-air setting designed for
everyday use and seasonal activation.
Thoughtfully arranged seating
encourages casual dining, gathering,
and lingering, while maintaining clear
circulation for high-volume days
and community events.
Envisioned as an experiential
extension of the concept, the patio
could potentially feature a dedicated
outdoor pizza oven that serves as
both a functional cooking element
and a visual focal point.
This space will support hands-on
pizza-making classes, family-friendly
programming and pop-up activations
that align with park events, festivals,
and citywide celebrations.
The local leadership team includes
David Dyer, known locally as Aspen’s
Piano Man, whose deep ties to the
community will help inform thoughtful
programming. Select live music,
including piano and small acoustic
performances, will activate the patio in a
way that complements the space while
remaining respectful of the surrounding
neighborhood.
The patio will be dog-friendly,
welcoming guests enjoying the park and
nearby trails with their pets, and creating
an inviting outdoor environment that
feels active, approachable, and deeply
connected to the surrounding community
while reinforcing an affordable, family-
friendly experience.
Exterior Design
SECTION 3, CONCEPT & OPERATIONS
85
101
Proposed Daily & Weekly
Minimum Hours of Operation
Napolita is committed to providing daily,
dependable service that aligns with the City of
Aspen’s objectives for accessibility, affordability,
and compatibility with surrounding public uses.
Proposed Minimum Hours of Operation:
•Sunday–Thursday: 11:00 A.M. – 8:30 P.M.
•Friday–Saturday: 11:00 A.M. – 9:00 P.M.
Operational Considerations:
•Hours support lunch and dinner service, family
dining, takeout, and event-related traffic
•Hours may extend during peak summer
months, major community events, and holidays
•Opportunity to introduce weekend
brunch service if demand supports it
•Evening hours may be extended if there
is demonstrated demand for a later-night
pizza and bar crowd
These hours are designed to serve a broad cross-
section of the community, including families, park
visitors, theater patrons, City Hall staff, and nearby
workers, while maintaining operational efficiency.
Year-Round Operation
& Anticipated Closures
Napolita is structured to remain open year-round
and serve as a consistent, reliable food option
for Aspen residents, workers, and visitors. The
concept’s efficient menu, service model, and
strong takeout and delivery components support
continued viability during offseason periods.
Year-Round Commitment:
•Open year-round with two planned three-week
closures annually, occurring in October and
May, to allow for maintenance, deep cleaning,
and scheduled time off for key staff
•Minimal additional closures limited
to select major holidays, such as
Thanksgiving Day and Christmas
Day, to support staff well-being
and family time
•Outside of these limited periods, the
restaurant will maintain consistent
daily operations throughout the year
This approach balances operational
sustainability with long-term staff
retention while ensuring the City of
Aspen has a dependable, community-
oriented restaurant presence at the
Rio Grande Building.
Hours of Operation &
Anticipated Closures
SECTION 3, CONCEPT & OPERATIONS
86
102
The following kitchen equipment is currently
installed in the Rio Grande Building restaurant
space and is proposed to remain in place for
use by the tenant, subject to final verification
during the City-facilitated walkthrough.
Cooking Equipment
•One (1) 24-inch range with four burners
and standard oven | Cooking Performance
Group – Model 351-S24N
•One (1) range and griddle combination
unit | Garland – Model G48-2G36LL
•One (1) floor-mounted fryer | Avantco –
Model FF100
Refrigeration and Cold Storage
•One (1) 60-inch refrigerated sandwich
preparation table | Avantco – Model
APT-60-HC
•One (1) undercounter refrigerator-freezer
Beverage-Air – Model WTFR48AHC
•One (1) refrigerated sandwich
preparation table | Beverage-Air – Model
SPED48HC-08-4
•One (1) back bar refrigerator / cooler
Avantco – Model UBB-60S-HC
Hot Holding and Proofing
•One (1) heated holding and proofing
cabinet | Metro – Model C539-CDC-4-BU
(C5 3-Series)
Ice and Beverage Support
•One (1) ice bin (30” x 18”) | Regency –
Model 600IB1830
•One (1) ice bin (30” x 18”) with accessory kit
Regency – Model 600IB1824CKT
Warewashing and Plumbing Fixtures
•One (1) glass washer | Noble Warewashing –
Model CG115
•One (1) dump sink | Manufacturer and
model to be confirmed
The tenant acknowledges that certain
equipment will be purchased and installed
at the tenant’s expense as required to
support daily operations. An itemized list
of equipment to be purchased is provided
below, and all such equipment will be
compatible with existing mechanical,
electrical, and plumbing infrastructure
and will comply with all applicable City
of Aspen codes and requirements.
Cooking Equipment
•One (1) Deck pizza oven | Peerless
CE62PESC 208-240/3 Electric
Quadruple Deck pizza oven
•One (1) Forno Piombo Casa
Pizza Oven – Model 110 (42” wide)
•One (1) Two-Speed Spiral Dough
Mixer | Estella SM60 60 Qt. / 88 lb. -
220V, 4 HP
Equipment
Existing equipment to remain
Equipment to be purchased
SECTION 3, CONCEPT & OPERATIONS
Ventilation and Hood Systems
•Existing Type I grease exhaust
kitchen hood system, to remain
with duct wrap modifications
•Existing Type II captive air hood
serving warewashing equipment
Existing Toast POS system
•Terminals, printers, networking
hardware, and peripherals
87
103
Target Market
The proposed restaurant is designed to
primarily serve Aspen residents, families, City
employees, park users, and visitors seeking
an affordable, approachable, and reliable
dining option in a high-use civic environment.
The concept is intentionally non-gourmet
and family-friendly, aligning with the historic
use of the space and the City’s stated goal of
providing ease of access and year-round
service for the broader community.
Key customer groups include families utilizing
Rio Grande Park and the skate park, patrons
attending performances at Theater Aspen,
employees working in City Hall and nearby
offices, and visitors seeking casual dine-in,
takeout, or delivery options. Menu design,
pricing, and service style are structured to
support repeat visitation from locals while
remaining welcoming to visitors.
Planned Integration with Adjacent Attractions
The restaurant is planned as an extension of
the surrounding public spaces rather than a
standalone destination. Its operations, hours,
and service formats are intentionally flexible to
integrate seamlessly with the daily and seasonal
rhythms of Rio Grande Park, Theater Aspen,
and nearby civic uses.
This integration includes efficient service
for park users and families before or after
recreation, coordinated pre- and post-
performance dining options tied to Theater
Aspen programming, and grab-and-go offerings
that support City employees and downtown
foot traffic during the workday. The adjacent
outdoor patio further enhances compatibility
with the park environment while remaining
compliant with City use and noise standards.
Family-Friendly Programming
Beyond daily service, the restaurant will
offer recurring family-focused programming
designed to activate the space throughout
the year. This includes hands-on pizza-
making classes that have become a highly
successful and widely shared experience at
our Chicago locations.
These classes are consistently sold out
and have gained viral traction on social
media, attracting families, encouraging
repeat visits, and reinforcing community
connection. The same programming
model can be adapted for Aspen with
seasonal themes, school-break scheduling,
and coordination with park and theater
events, supporting year-round engagement
without disrupting daily operations.
Target Market & Planned Integration
SECTION 3, CONCEPT & OPERATIONS
88
104
Capability to Support
City Events and Festivals
Our team brings extensive experience
operating food and beverage service within
public parks and civic spaces as a partner to
municipal programming. We currently serve
as the sole food and beverage provider
for the Chicago Blues Festival, one of the
world’s largest free music festivals, welcoming
hundreds of thousands of attendees annually
over multiple days.
Additional experience includes food and
beverage operations for the Chicago Jazz
Festival, the City of Chicago Tree Lighting
Ceremony, and the Chicago and Milwaukee
Air and Water Shows. These events require
scalable staffing, high-volume service, and
close coordination with City departments, all of
which are core competencies of our operation.
At the Rio Grande Building, this experience
translates into the ability to support Aspen’s
festivals, performances, and seasonal events
through concessions, temporary service
models, or complementary food and
beverage offerings that enhance public
programming while maintaining
consistent daily restaurant service.
Compatibility with the Rio Grande Building
and Community Goals
The proposed concept aligns with the
City’s vision for the Rio Grande Building
as a year-round, affordable, and family-
friendly restaurant that serves as an asset to
adjacent parks, theaters, and civic spaces. Its
operational flexibility, proven experience in
public-space activation, and commitment to
community-oriented service ensure long-term
compatibility with Aspen’s needs and priorities.
Target Market
& Planned Integration
SECTION 3, CONCEPT & OPERATIONS
89
105
Our proposed Napolita concept is designed to
operate in alignment with the City of Aspen’s
Environmental Health & Sustainability goals,
including climate action, resource conservation,
waste reduction, and the protection of public
health and the natural environment. We
recognize Aspen’s expectation that businesses
serving the community operate responsibly,
efficiently, and with long-term environmental
accountability.
Sustainability is integrated into both the
physical space and daily operations, with a
focus on practical, measurable actions that
support Aspen’s leadership in environmental
stewardship.
Energy Efficiency & Climate Action
Energy efficiency is a core operational priority.
All lighting will utilize high-efficiency LED
fixtures to reduce energy consumption and
heat load. Kitchen and refrigeration equipment
will prioritize Energy Star–rated models where
applicable and will be selected for long-
term performance, efficient energy use, and
environmentally responsible refrigerants.
Operational practices will emphasize
preventative maintenance, efficient scheduling,
and staff training to minimize unnecessary
energy use and support the City’s climate action
goals.
Water Conservation
In recognition of Aspen’s water conservation
priorities, plumbing fixtures will meet or exceed
current efficiency standards, including low-flow
faucets and fixtures where applicable. Kitchen
and dishwashing operations will follow best
practices to reduce water use while maintaining
strict sanitation and food safety standards.
These measures support responsible year-round
operations and the sustainable use of Aspen’s
water resources.
Waste Reduction, Recycling & Composting
Waste reduction begins at the source. Dine-
in service will utilize durable, reusable plates,
glassware, and flatware. All take-out and to-go
packaging will be compostable or recyclable
where available and compliant with local
requirements.
A clearly defined recycling and composting
program will be implemented back-of-house,
supported by staff training to ensure proper
sorting, contamination reduction, and consistent
diversion from landfills.
Sustainable Materials & Responsible
Improvements
Any modest improvements to the space will
prioritize durability, recycled content, and
responsible sourcing. Preference will be given
to materials with recycled content and locally or
regionally sourced products when feasible. These
selections reduce lifecycle environmental impacts
and support long-term operational sustainability.
Indoor Environmental Quality & Public Health
To protect the health of guests and employees,
all paints, sealants, adhesives, and coatings will
be low-VOC and compliant with indoor air quality
standards. Cleaning protocols will prioritize
environmentally responsible products that meet
public health requirements without introducing
unnecessary chemicals into the space.
Ongoing Operational Accountability
Sustainability extends beyond initial design
and into daily operations. Purchasing decisions
prioritize vendors with responsible environmental
practices. Preventative maintenance programs
extend equipment life and reduce waste. Staff
training reinforces energy conservation, waste
diversion, and water-saving practices as part of
everyday operations.
Our approach to sustainability is practical,
accountable, and aligned with Aspen’s
environmental values. It supports the health of the
surrounding public spaces, the broader community,
and the long-term viability of the restaurant while
meeting the City’s expectations for responsible,
year-round operations.
Sustainability Statement
SECTION 3, CONCEPT & OPERATIONS
90
106
SECTION 4, LEASE RATE / TERM
Proposed Lease
The City of Aspen’s sample lease agreement, as provided with the Request for Proposals, is
included in this submission for reference. The proposer has reviewed the lease in its entirety.
Revisions, exceptions, or proposed changes are noted at the conclusion of the sample lease.
91
107
92
108
93
109
94
110
95
111
96
112
97
113
98
114
99
115
100
116
101
117
102
118
103
119
104
120
105
121
106
122
107
123
108
124
109
125
110
126
111
127
Rio Grande Building Restaurant Lease – Proposed Tenant Amendments
Section 2 – Term / Rent Commencement / Renewals
•Revise Rent Commencement Date to be the earlier of (i) the first day the restaurant opens to the
public, or six months from lease execution.
• Revise renewal conditions so renewal options are conditioned on no uncured material default at the
time of renewal, rather than requiring Tenant to have never been in breach.
•Percent-based rent begins on the one-year anniversary of restaurant opening.
Section 3(a) – Base Rent Adjustments
• Add a cap on annual CPI-based rent increases such that increases shall not exceed three percent
(3%) per Lease Year.
Section 3(c) – Definition of Gross Sales
• Revise and clarify the definition of Gross Sales to exclude sales tax, gratuities, tips, service charges,
delivery platform pass-through amounts, complimentary items, employee meals, promotional discounts,
refunds, voids, and any form of deferred revenue.
•The sale of gift cards, gift certificates, or stored-value cards shall not be included in Gross Sales at the
time of purchase. Gross Sales shall include the value of such gift cards only when redeemed for food,
beverages, merchandise, or services at the Premises.
•Pass-through charges collected by Tenant on behalf of third parties in connection with private events
or catering, including but not limited to linens, décor, rentals, security, entertainment, staffing agencies,
or similar third-party goods or services, provided Tenant does not retain such amounts and they are
separately stated to the client.
Section 3(d)(ii) – Audit Rights
• Revise audit cost-shifting and default provisions so Tenant is only responsible for audit costs and
penalties if an audit reveals an understatement of three percent (3%) or more, rather than one percent
(1%).
Section 8(c) – Operating Requirements / Closures
• Revise seasonal closure provisions to allow Tenant to close for up to twenty-one (21) consecutive
days in May and twenty-one (21) consecutive days in October/November, for a total of forty-two (42)
days per calendar year.
Section 19 – Assignment / Sublease
• Revise landlord consent standard so consent shall not be unreasonably withheld, conditioned, or
delayed, including for ownership or control changes.
Section 43 – Additional Leased Premises (Patio)
• Add language permitting an outdoor pizza oven on the patio, subject to mutual written approval of
Landlord and Tenant and compliance with all applicable codes and permits.
Except as expressly set forth above, Tenant confirms that all other terms and conditions contained in
the current draft of the Lease Agreement are agreeable.
Rio Grande Building Lease –
Proposed Tenant Amendments
112
128
113
129
12/24/25
To Whom it May Concern,
I am writing this letter for Dennis Chookaszian and CCH
Management LLC in their pursuit to open a Napolita Pizzeria located at
455 Rio Grande Place, Aspen CO.
I have known Dennis and the family for many years. Our
relationship began when we, Okeanos Construction, were hired to
remodel the Annabelle Cabin on Main St. What began as a working,
business relationship evolved into a deep friendship. I have the utmost
respect for Dennis, his family and the team working with him. My wife
and I visited their Napolita Pizzeria in Chicago and were extremely
happy with the food and especially happy with the service.
I feel strongly that if CCH Management LLC wins the bid that they
would be a great addition to the Aspen dining scene and the community
as a whole.
Sincerely,
Steve Leu
President
Okeanos Construction
805-252-9161
114
130
115
131
116
132
117
133
To:
Subject: Request for Information
Please find the below in response to your request for information:
Company name and contact person: Lakeshore Beverage, Wei Fraser, Director of Marketing,
wei.fraser@lakeshorebev.com
Length of business relationship with : Since 2014
Nature of business relationship (type of goods or services provide: Sale of beer, wine, spirits and
other beverages
Average payment terms: COD via Fintech
Payment history (e.g., pays on time, within terms, etc.): Pays on time with payment at delivery. No
history of payment issues.
Any additional comments you wish to include: Customer has consistently been good to work with
– payment is via Fintech, and communication is always timely.
118
134
Slice of Aspen
119
135
SLICE OF ASPEN
Comprehensive Business Plan Proposal
Prepared for Banks, Investors, and Landlords
Roaring Fork Valley, Colorado
120
136
TABLE OF CONTENTS
1. Executive Summary
2. Ownership & Management Team
3. Restaurant Concept & Menu
4. Market Analysis
5. Competitive Advantage
6. Operations Plan
7. Financial Projections
8. Marketing Strategy
9. Risk Management & References
10. SWOT Analysis
11. 5-Year Financial Projection Table
12. Financial Graphs
13. Conclusion
121
137
1. EXECUTIVE SUMMARY
Slice of Aspen is an affordable Italian restaurant concept designed specifically for the local community
in the Roaring Fork Valley. Founded by two experienced restaurateurs with deep roots in the area, the
restaurant will offer authentic Italian cuisine at accessible price points, serving both lunch and dinner
daily from 10:00 AM to 10:00 PM.
Key Business Highlights
• Target Market: Local residents seeking high-quality Italian food at affordable prices.
• Operating Hours: 10:00 AM – 10:00 PM daily (lunch and dinner service).
• Ownership:
– Vladan Djordjevic
– Nenad Rafajlovic
Combined 15+ years of successful restaurant operations in the Roaring Fork Valley.
• Price Positioning: Competitive pricing, with 12-inch pizzas starting at $17 and pasta dishes from $20.
• Concept: Authentic Italian cuisine in a warm, welcoming, neighborhood-style environment designed
with locals in mind.
Slice of Aspen aims to fill a clear gap in the Aspen market: a local-friendly, value-driven Italian
restaurant that delivers high quality without typical resort-level pricing.
122
138
2. OWNERSHIP & MANAGEMENT TEAM
Vladan Djordjevic
• 15-year Roaring Fork Valley resident and restaurateur.
• Founder/Operator of Aspen Over Easy (top-rated local breakfast spot).
• Founder of Little Mammoth Steak House in Snowmass Village.
• Owner of the Bowling Alley in Snowmass Village.
• Current owner/operator of Grub Thai and Napoli Express in Snowmass.
• Co-owner of Alpine House in Basalt.
Key Strengths of the Ownership Group
• Proven Track Record: Multiple successful restaurant operations in the Roaring Fork Valley.
• Local Community Integration: Deep understanding of local customer preferences, seasonality, and
demand patterns.
• Financial Stability: No bankruptcy filings or outstanding legal disputes.
• Operational Expertise: Experience across breakfast, casual dining, bar/grill, ethnic, and Italian
concepts.
• Established Relationships: Long-standing connections with landlords, banks, and key suppliers.
Nenad Rafajlovic
• Long-time Roaring Fork Valley resident with extensive food and beverage experience.
• Founder/Operator of Slice of Italy and Base Camp & Grill in Snowmass.
• Partner in Alpine House in Basalt.
123
139
3. RESTAURANT CONCEPT & MENU
Concept Statement
“Authentic Italian cuisine at prices locals can afford, served in a warm, welcoming atmosphere that feels
like home.”
Menu Overview
Pizza – 12" & 18"
• Classic Margherita – 12" $18 | 18" $24
• Quattro Formaggi – 12" $18 | 18" $26
• Prosciutto & Arugula – 12" $20 | 18" $29
• Pepperoni Classico – 12" $18 | 18" $26
• Garden Lovers – 12" $17 | 18" $25
• Meat Lover – 12" $22 | 18" $32
• Slice of Aspen Supreme – 12" $22 | 18" $32
(Final pricing to be confirmed based on detailed food cost analysis.)
Pasta & Italian Favorites
• Spaghetti Carbonara – $21
• Fettuccine Alfredo – $20
• Lasagna al Forno – $22
• Chicken Parmigiana – $24
• Risotto alla Milanese – $23
Italian Sandwiches
• Classic Italian Sub – $17
• Chicken Parmigiana Sandwich – $18
• Meatball Marinara Sandwich – $17
• Prosciutto & Mozzarella Panini – $19
Salads
• Classic Caesar Salad – $15
• Caprese Salad – $16
• Mediterranean Salad – $16
• House Garden Salad – $14
Kids Menu
• Kids Cheese Pizza – $12
• Kids Pasta Marinara – $11
• Kids Butter Pasta – $10
• Kids Chicken Tenders & Fries – $12
Appetizers
• Calamari Fritti – $16
• Bruschetta – $10
• Arancini – $12
• Antipasto Board – $18
The concept focuses on:
• Genuine Italian recipes using quality ingredients.
• A relaxed, casual environment appealing to locals, families, and workers.
• Strong takeout and delivery options to serve the broader valley community.
• Partnership with local sports clinics and supporting our children.
124
140
Desserts
• Tiramisu – $10
• Cannoli – $8
• Panna Cotta – $9
Wine & Beverages
• Curated selection of Italian wines and Prosecco.
• Espresso, cappuccino, and other Italian coffee drinks.
• Italian sodas, soft drinks, and non-alcoholic options.
125
141
4. MARKET ANALYSIS
Target Market
1. Local Residents – Primary focus on Roaring Fork Valley locals who want a reliable, affordable Italian
option in Aspen itself.
2. Value-Conscious Diners – Guests seeking quality food and service without resort-level prices,
including hospitality and service industry workers.
3. Lunch Crowd – Office workers, construction crews, retail staff, and other local employees looking for
quick, satisfying lunch options.
4. Family Diners – Families seeking a casual, kid-friendly environment and approachable pricing.
5. Takeout & Delivery Customers – Residents of Aspen, Snowmass, and surrounding areas who value
convenience.
5. COMPETITIVE ADVANTAGE
• Price Leadership: Positioned as one of the most affordable Italian options in the area while
maintaining quality.
• Owner Experience: Proven success operating multiple restaurants in the valley, with established
systems and best practices.
• Community Trust: Strong existing reputation through Aspen Over Easy, Grub Thai, Napoli Express,
Slice of Italy, and other ventures.
• Operational Efficiency:
– Established supplier relationships.
– Knowledge of staffing patterns and seasonality.
– Ability to cross-utilize staff and systems from other venues as needed.
• Local-First Focus: Concept is intentionally designed for locals rather than tourists, filling a unique
niche in the Aspen dining scene.
126
142
6. OPERATIONS PLAN
Hours of Operation
• Monday – Sunday: 10:00 AM – 10:00 PM
• Lunch Service: 11:00 AM – 3:00 PM
• Dinner Service: 3:00 PM – 10:00 PM
• Delivery Service: 5:00 PM – 10:00 PM
• Brunch (Weekends): 10:00 AM – 3:00 PM
(Weekend brunch to feature Italian-inspired brunch items and classic favorites.)
Location Strategy
• Targeting a central Aspen location that is easily accessible to locals.
• Approximate minimum size: 1,687 sq ft, including kitchen, dining area, and takeout counter.
• Adequate nearby parking or convenient access for local residents and workers.
• Strong visibility from main traffic routes and proximity to complementary businesses (offices, retail,
service industry hubs).
Staffing Plan
• Management: Owners to oversee operations directly and maintain regular on-site presence.
Kitchen
• 1 Head Chef
• 2 Line Cooks
• 1 Prep Cook
Front of House
• 2 Servers
• 1 Bartender (responsible for bar, wine service, and espresso bar)
Support
• 1 Dishwasher
Additional part-time and seasonal staff will be added as business grows, particularly during peak traffic
periods.
127
143
7. FINANCIAL PROJECTIONS
Total Estimated Startup Investment: $340,000
Revenue Projections – Year 1
• Average Daily Covers: 150 (Lunch: 60 / Dinner: 90)
• Average Check:
– Lunch: $25
– Dinner: $35
• Estimated Monthly Revenue: $142,500
• Estimated Annual Revenue: $1.71 million
(Assumes consistent operation with moderate seasonal variation balanced by strong local demand.)
Startup Costs (Estimated)
1. Lease & Deposits – $15,000
2. Kitchen Equipment – $75,000 (Pizza Oven, Stove)
3. Interior Buildout & Furnishings – $50,000 (New Tables, Chairs, Wall Painting)
4. Initial Inventory (food, beverages, disposables) – $25,000
5. Licenses & Permits – $15,000
6. Marketing Launch – $10,000
7. Working Capital (3–6 months operating buffer) – $100,000
8. Contingency – $50,000
Profitability Timeline
1. Months 1–3: Ramp-up phase at approximately 60% capacity, focusing on marketing, staff training,
and building regular clientele.
2. Months 4–6: Targeting break-even operations as brand awareness and repeat visits increase.
3. Months 7–12: Aim for 15–20% net profit margin, driven by operational efficiencies, stable staffing,
and a strong local customer base.
128
144
8. MARKETING STRATEGY
Local-Focused Approach
1. Grand Opening Event
• Community-focused launch with special local discounts.
• Collaboration with local businesses and media for coverage.
2. Loyalty Program – “Local’s Card”
• Rewards program where, for example, the 7th meal is free (or similar structure).
• Encourages repeat visits and builds a strong base of regulars.
3. Partnerships with Local Businesses
• Discounts for employees of hotels, ski resorts, shops, and service businesses.
• Corporate lunch deals and catering options for offices and construction crews.
4. Community Involvement
• Sponsorship of local sports teams, school events, and community activities.
• Participation in local festivals and food events.
Digital Presence
• Website:
– Simple, mobile-friendly website with online ordering and full menu.
– Clear information on hours, location, and specials.
• Social Media:
– Active Instagram and Facebook presence featuring daily specials, behind-the-scenes content, and
community spotlights.
• Review & Listing Management:
– Proactive management of Google, Yelp, TripAdvisor, and local review platforms.
• Email Newsletter:
– Monthly or bi-weekly updates for regulars featuring specials, events, and loyalty offers.
129
145
9. RISK MANAGEMENT & REFERENCES
Key Risks & Mitigation
1. Seasonal Fluctuations
• Mitigation: Focus on building a strong local customer base through pricing, loyalty programs, and
consistent quality to reduce reliance on tourist traffic.
2. Labor Challenges
• Mitigation: Offer competitive wages, clear advancement opportunities, and cross-training to maximize
flexibility and retain staff.
3. Supply Chain Disruptions
• Mitigation: Maintain multiple supplier relationships (already in place through existing restaurants) and
design the menu with enough flexibility for substitutions as needed.
4. Competitive Pressure
• Mitigation: Emphasize price advantage, authentic quality, and a welcoming, local-friendly atmosphere.
Maintain high standards of service and consistency.
Owners’ Financial & Professional Standing
• No existing bankruptcies or active legal disputes.
• Strong personal credit histories.
• Multiple successful business operations in the Roaring Fork Valley.
• Established banking relationships and long-term trust with local partners.
References
•REDACTED – Banking relationship for the last 15 years.
• Snowmass Mall Investment Group – Dwaine Romero, 970-618-8880 – Landlord for Grub Thai and
Napoli Express for the last 7 years.
• Sysco – Jeff Olson, 970-379-2631 – Food provider for all restaurants for the last 15 years.
130
146
10. SWOT ANALYSIS
Strengths
• Deep operational experience in the Roaring Fork Valley.
• Proven track record with multiple successful restaurants.
• Strong supplier and banking relationships.
• Competitive pricing strategy relative to the Aspen market.
Weaknesses
• Exposure to high local labor and real estate costs.
• New brand in a competitive food and beverage environment.
Opportunities
• Expansion of delivery, catering, and corporate accounts.
• Potential future locations within the valley or nearby markets.
• Cross-promotion with existing restaurant brands owned by the partners.
Threats
• New entrants or repositioning by competitors.
• Economic downturns impacting discretionary dining spend.
• Ongoing labor and housing challenges in resort communities.
131
147
Year 2 $1,761,000 $493,080 $935,000 $332,920
Year 3 $1,813,000 $507,640 $950,000 $355,360
Year 4 $1,867,000 $522,760 $965,000 $379,240
Year 5 $1,923,000 $538,440 $980,000 $404,560
11.5-YEAR FINANCIAL PROJECTION TABLE
Year 1 $1,710,000 $478,800 $920,000 $311,200
Year Estimated Revenue COGS (28%) Operating Expenses Estimated Net Profit
132
148
Startup Cost Breakdown
133
149
13. CONCLUSION
Slice of Aspen represents a compelling opportunity to fill a clear market gap in the Roaring Fork Valley
dining scene. With experienced owners who deeply understand the local community, a carefully priced
menu that delivers strong value, and a proven operational background, the restaurant is well positioned
for sustainable, long-term success.
The combination of:
• Affordable pricing,
• Authentic Italian cuisine, and
• Owners with deep local roots and strong relationships
creates a strong value proposition for both customers and potential investors.
Timeline: The restaurant is expected to begin operations 30–45 days after the lease is signed,
assuming timely permitting and buildout.
Slice of Aspen is ready to bring authentic, affordable Italian dining to the locals of the Roaring Fork
Valley.
134
150
Soul & Spice
135
151
Business Proposal
Soul & Spice Bistro
To Whom It May Concern:
We are a group of long time locals with over twenty years of hands-on
experience in the hospitality industry, who have lived and worked in this
community for many years, and we are now bidding to operate the county's
restaurant space. Because we are part of this neighborhood, we understand its
needs, rhythms, and character in a way that an outside operator cannot.
Our careers have been built on a deep understanding of restaurant operations,
guest service, and community-focused dining. Over the past two decades, we
have successfully managed and supported food and beverage operations
across a range of concepts, always emphasizing quality, consistency, and
financial responsibility. This experience has given us the skills necessary to
operate an efficient, compliant, and welcoming establishment that reflects the
values of the county and serves both residents and visitors.
Over the years, we have listened to neighbors, served local families and
workers, and learned what kind of food, hours, and atmosphere people truly
want. We know which dishes are favorites, when people are most likely to
gather, and how to make a space that feels welcoming to everyone — from
seniors and students to young families and shift workers. This deep local
understanding allows us to design a restaurant that truly fits the community, not
one that feels generic or imported.
We are committed to being more than just a restaurant — we want to be
community partners. We plan to hire locally, offering good jobs and training
opportunities to people from the neighborhood. We will source ingredients and
supplies from nearby farms and small businesses, helping to keep money
circulating in the local economy. We also intend to open our space for
community meetings, fundraisers, cultural events, and youth programs, and to
support local schools, nonprofits, and neighborhood initiatives.
The key part of our plan is to offer good, fresh food at reasonable price points so
that everyone in the community can afford to eat here. We will design our menu
with a range of options — including lower cost daily specials, family meals, and
value combos — so that people on different budgets can enjoy quality meals
without stress. By keeping prices fair and the atmosphere inclusive, we aim to
make this restaurant a true neighborhood gathering place that supports health,
connection, and dignity for all.
By choosing us as the operator, the city will be supporting a team that already
knows and cares about this community, and that is ready to help make the
neighborhood stronger, more connected, and more vibrant.
Concept: Southeast Asian Street Food
Service Style: Hybrid Counter Service
Proposed Opening: January–February (Soft Opening Late January)
Summary:
Soul & Spice Bistro is a locally owned Southeast Asian street food restaurant
founded by four longtime residents who have proudly called this town home for
many years. Built on a shared passion for bold flavors, warm hospitality, and
community connection, Soul & Spice Bistro is designed to be an affordable,
welcoming neighborhood destination.
Inspired by the vibrant street food cultures of Thailand, Vietnam, India, and
Indonesia, the restaurant will serve thoughtfully prepared, high-quality dishes in
a relaxed environment suitable for dine-in, takeout, and delivery. Our mission is
simple: deliver exciting, flavorful food at accessible prices while creating a place
our hometown community can truly be proud of.
Concept:
Soul & Spice Bistro blends the energy of Southeast Asian Street food with the
comfort of a neighborhood bistro. Our menu highlights classic and modern
dishes from Thailand, Vietnam, India, and Indonesia, emphasizing fresh
ingredients, balanced spices, and customizable options.
Service:
Hybrid counter service: guests order at the counter and food is delivered to their
table. This allows faster service, lower labor costs, and consistent quality for
dine-in, takeout, and delivery.
Menu & Pricing
Cuisine: Thai, Vietnamese, Indian, Indonesian
Price Range: $8 – $35
Quick Lunch Options: Starting at $13.99
136
152
Business Proposal
Soul & Spice Bistro
Concept: Southeast Asian Street Food
Service Style: Hybrid Counter Service
Proposed Opening: January–February (Soft Opening Late January)
Summary:
Soul & Spice Bistro is a locally owned Southeast Asian street food restaurant
founded by four longtime residents who have proudly called this town home for
many years. Built on a shared passion for bold flavors, warm hospitality, and
community connection, Soul & Spice Bistro is designed to be an affordable,
welcoming neighborhood destination.
Inspired by the vibrant street food cultures of Thailand, Vietnam, India, and
Indonesia, the restaurant will serve thoughtfully prepared, high-quality dishes in a
relaxed environment suitable for dine-in, takeout, and delivery. Our mission is
simple: deliver exciting, flavorful food at accessible prices while creating a place
our hometown community can truly be proud of.
Concept:
Soul & Spice Bistro blends the energy of Southeast Asian Street food with the
comfort of a neighborhood bistro. Our menu highlights classic and modern dishes
from Thailand, Vietnam, India, and Indonesia, emphasizing fresh ingredients,
balanced spices, and customizable options.
Service:
Hybrid counter service: guests order at the counter and food is delivered to their
table. This allows faster service, lower labor costs, and consistent quality for
dine-in, takeout, and delivery.
Menu & Pricing
Cuisine: Thai, Vietnamese, Indian, Indonesian
Price Range: $8 – $35
Quick Lunch Options: Starting at $13.99
137
153
Target:
Local residents, families, city employees, first responders, lunch and dinner
guests, and takeout/delivery customers.
Community Program:
15% discount for police officers, firefighters and city employees
Hours of Operation:
In-Season: Daily 11:00 AM – 9:00 PM
Off-Season: Monday – Saturday 11:00 AM – 7:00 PM
Rent:
Peak Season Rent: $5,000/month
Off-Season Rent: Approximately $3,000/month
Opening Timeline:
Late January: Soft Opening
February: Open to Public
Conclusion
Soul & Spice Bistro is a community-focused restaurant rooted in bold Southeast
Asian flavors, warm hospitality, and hometown pride. With affordable pricing and
a flexible service model, the restaurant is positioned for long-term success.
139
154
Taquería El Yaqui
138
155
Rio Grande Restaurant Rental Space
2025-700 by Taquería El Yaqui LLC
Executive Summary
Taqueria El Yaqui is a well-established Mexican food operation recognized for bold flavors,
fresh ingredients, and authentic street-food cuisine. Known locally for its vibrant yellow food
truck, the business has built a strong following by serving made-to-order dishes inspired by
traditional Mexican recipes, prepared with consistency, care, and attention to detail.
The menu features customer favorites such as flavorful tacos with perfectly seasoned
meats, rich and comforting birria, oversized burritos, cheesy quesadillas, and other classic
Mexican offerings. Each dish is prepared using fresh tortillas, savory fillings, and house-
made salsa that bring balance and depth to every plate. Portions are generous, pricing is
approachable, and the overall experience is casual, welcoming, and family-friendly.
Taqueria El Yaqui’s concept is intentionally designed to be accessible to a wide range of
customers, including local families, workers, and visitors. The combination of affordability,
quality, and efficient service aligns well with the City of Aspen’s goal of supporting inclusive,
community-oriented dining options. With proven operational experience and a strong
reputation in Pitkin County, Taqueria El Yaqui is well-positioned to successfully operate
within the Rio Grande restaurant space while contributing positively to the surrounding
neighborhood.
140
156
PROPOSAL FOR 2025-700
Rio Grande Restaurant Rental Space
Submitted by Taquería El Yaqui LLC
Company Information
Legal Business Name: Taquería El Yaqui LLC
Legal Owner: Martha Peralta
Year Established: 2015
Business Entity Type: Limited Liability Company (LLC)
Business Addresses:
•1412 Grand Ave, Glenwood Springs, CO 81601
•51579 HWY 6, Glenwood Springs, CO 81601
SECTION 1: Company Introduction
Taqueria El Yaqui LLC is a locally owned food and beverage business established in 2015 by
its legal owner, Martha Peralta. The company was founded with the mission of providing
authentic, high-quality, and affordable Mexican food while serving working families and the
broader community.
Ms. Peralta’s entrepreneurial journey began with significant challenges. Upon arriving in the
United States, she encountered limited access to Spanish-language resources and
numerous barriers common to first-generation business owners. She worked long hours
across multiple roles, gaining hands-on experience in the food service industry while
maintaining a clear vision of one day owning her own business.
That opportunity came with the purchase of a food trailer. With limited financial resources
but strong determination, faith, and discipline, Taqueria El Yaqui was built through
installment payments, early mornings, and continuous effort. Over time, the business grew
into both a successful operation and a source of personal pride—a second home built
through perseverance.
141
157
Throughout its history, Taqueria El Yaqui has faced challenges, including incidents of theft
that created both emotional and financial strain. Despite these setbacks, the business never
ceased operations. Each obstacle strengthened internal systems and reinforced a
commitment to resilience, accountability, and consistent service.
Today, Taquería El Yaqui LLC is a stable, community-rooted business with proven experience
in the food and beverage industry and a strong understanding of the needs of diverse
populations throughout the Roaring Fork Valley.
SECTION 2: Qualifications
Operational Experience
Taqueria El Yaqui LLC has developed strong operational capacity through years of consistent
operation. Daily business functions are supported by strict inventory control practices,
allowing the business to manage costs effectively and ensure product availability.
Inventory oversight is handled by a designated storage manager, responsible for confirming
that all required supplies are fully stocked prior to the start of each operating day. This
system ensures operational efficiency, reduces waste, and supports dependable customer
service.
The company has also provided food service for private events throughout Pitkin County,
where its Mexican cuisine has received consistently positive evaluations. This feedback has
encouraged the business to pursue a permanent location in Aspen.
Legal History
Taqueria El Yaqui LLC has no unresolved legal disputes and has never filed for bankruptcy
protection.
Financial Capacity
The business maintains an open revolving line of credit of approximately $10,000 per month,
providing operational security and financial flexibility.
Additionally, Taquería El Yaqui LLC holds a cash reserve fund designated to cover fixed
production and operating expenses during off-season periods, ensuring continuity of service
year-round.
The company is financially prepared to meet all obligations associated with the proposed
lease and business operations.
SECTION 3: Concept & Operations
142
158
Concept Description
Taqueria El Yaqui proposes a food and beverage concept centered on Mexican street food
(antojitos Mexicanos) and seafood, featuring authentic flavors, generous portions, and highly
affordable pricing.
The concept is intentionally designed to provide a family-friendly and accessible dining
option in Aspen. Average menu pricing is structured to align with approximately half an hour
of local wages, making the restaurant an everyday option for residents, workers, and visitors.
Personnel
The proposed staffing model includes six (6) employees:
•Three (3) kitchen staff
•Three (3) front-of-house/customer service staff
This structure allows for efficient service while maintaining quality and consistency.
Hours of Operation
Proposed hours of operation:
•Seven days a week, 8:00 a.m. – 6:00 p.m.
The business is prepared to adjust hours seasonally and make efforts to remain open during
the off-season whenever feasible.
Design & Décor
The restaurant will feature a traditional design, incorporating Latin American artwork that
reflects the cultural origins of the menu. The atmosphere will be welcoming, family-oriented,
and accessible to guests of all ages.
Kitchen Equipment
Most of the existing kitchen equipment currently available is well-suited for the proposed
concept and will be utilized where appropriate. Additional equipment will be introduced only
if operational needs require it.
Target Market & Community Integration
The restaurant will serve the general public, including local families, workers, and tourists.
143
159
Community integration efforts include:
•Offering employee discounts
•Promoting Park and theater activities
•Maintaining compatibility with surrounding offices and public attractions
SECTION 4: Lease Rate / Term
Taquería El Yaqui LLC accepts the lease rate, term, and renewal options as outlined in
Exhibit C, without requesting amendments.
SECTION 5: References
• Steve Kohler/ Realtor-Managing Broker/ President Fulluse Properties
720-280-6052
• Samuel Bernal/ Journalist / Manager La Tricolore Aspen
970-948-8611
• Ana L Gonzalez / Territory Manager. US Foods
970-343-6602
Signature
Submitted by:
Taqueria El Yaqui LLC
144
160
Dec 19, 2025
To Whom It May Concern,
Business / Organization Affiliation: Advertiser Consultant
Contact Name: Samuel Bernal
Phone Number: 970 948 86 11
Email Address: samuelbernal.periodista@gmail.com
I am writing this letter as a professional testimonial based on my long-standing working relationship with
Taquería El Yaqui, which operates a location in downtown Glenwood Springs, another in West Glenwood,
as well as a mobile food unit used for community events.
For nearly fifteen years, Taquería El Yaqui has been a client to whom I have provided advertising and
marketing services in radio and social media. Throughout this time, I have consistently observed a
business that demonstrates community focus, reliability, and a commitment to serving others beyond its
commercial operations.
From my direct experience, Taquería El Yaqui has repeatedly shown a willingness to support the
community, particularly during times of need. During the COVID-19 pandemic, for example, they offered
daily meals to individuals who needed food assistance. Additionally, during community-focused events,
such as visits from the Mexican Consulate or other public service initiatives, they have regularly offered
food and services, in some cases at no cost, to public servants and community members involved.
Another example that stands out occurred when a group of community volunteers organized a cleanup of
a public parking lot. As a gesture of appreciation for their civic effort, Taquería El Yaqui voluntarily chose
to thank those volunteers by providing them with a meal. This action was not connected to any formal
obligation and reflected their appreciation for community service and public-minded initiatives.
I have also personally observed that Taquería El Yaqui operates as an inclusive workplace and service
environment. They appear to be welcoming and respectful toward individuals who are neurodivergent,
just to mention an example, and they maintain an atmosphere that values dignity and inclusion. Their
reputation for delicious food and dependable service is further reflected in the fact that they are frequently
selected by local businesses and families for catering and private events both for English and Spanish
speakers.
This letter is intended solely as a professional observation and testimonial based on my experience
working with Taquería El Yaqui over many years. It is not intended to serve as a legal statement,
endorsement, or guarantee, but rather as a good-faith account of the community engagement I have
personally witnessed.
Please feel free to contact me should additional context or clarification be needed.
Sincerely,
Samuel Bernal
145
161
12/23/2025
To whom it may concern:
I am writing to you on behalf of the establishment Taqueria el Yaqui (TY) owned by Martha
Concepcion Peralta Gamboa. I have been working with TY for a little over 8 years now as a
food distributor sales representative. During this time, TY has continued to grow and
expand locations in a remarkably successful manner. They began with one location and
successfully expanded to two viable and thriving locations. I would estimate a 100%
growth in COGS spend over the span of 5 years and expect continuous growth.
I currently represent US Foods and can accurately convey a spend of $16K-$20K on a
weekly basis between both locations. Customer payments are received in a timely manner
via ACH payments every 14 days. Prior to US Foods, I was their sales representative with
Sysco Foods having similar experience on growth MOM and timely payments.
I understand that their cuisine from the el Yaqui region brings a fresh change to the usual
Jalisco region. This new and unique flavor has acquired a significant following amongst
influential locals and regular visitors alike within the Garfield and Pitkin counties. The
community speaks highly of the establishment, their cuisine and the owner. Due to this
following, TY expects to continue to expand into two additional locations in 2026. US Foods
intends on providing full support with these new ventures willing to financially aid their
expansion as a partner we wish to continue to grow with.
TY is truly a pleasure to do business with. I find the business to be an exceptional asset to
the community not only for their food service but also worth noting TY’s continuous
support for local charitable events recognized by the local community.
I hope you take these statements into consideration and please feel free to contact me if
you require any further information.
Kind Regards,
Ana Lourdes Gonzalez
Territory Manager, US Foods.
ani.gonzalez@usfoods.com
Cell: 970-343-6602
146
162
Thai Smile
147
163
Thai Smile LLC – Fast & Affordable Dining Proposal
Thai Smile Restaurant
16 6th Street, Crested Butte, CO 81224
Thai Smile LLC, Since 2018 in one ownership 100%
Introduction
Thai Smile Restaurant, established in 2018, has proudly served the Crested Butte community with
authentic Thai cuisine and consistently excellent customer service. With nearly a decade of operational
experience, we deliver high-quality meals with speed, efficiency, and affordability—making us a strong
candidate for any program seeking fast and budget-friendly restaurant partners. Thai Smile Restaurant
was founded with a passion for bringing genuine Thai food to our neighborhood . Over the years, we
have expanded our menu to include not only traditional Thai dishes, but also popular favorites like Pho
Noodles soup and a variety of other options to cater to diverse tastes and preferences. Our
commitment to quality ingredients, skilled preparation, and attentive service has earned us a loyal
customer base.
Why Thai Smile Is the Ideal Choice for Fast & Affordable Dining
Fast Service
•Average service time: 5–15 minutes
•Efficient wok cooking methods allow rapid preparation
•Fast handling of takeout, online orders, and dine-in meals even during peak hours.
Affordable Menu Options
•Most dishes value price starting at $12.99
•Lunch specials for options designed for value
•Large portions for the price
•Vegetarian, gluten-free, and kid-friendly options.
148
164
Menu & Offerings
Lunch and Dinner
We serve a wide variety of dishes including:
•Thai curries, stir-fries, fried rice, noodle dishes
•Noodle soups and pho
•Appetizers, salads, shareable plates
•Custom spice levels
•Vegetarian and gluten-free choices
•Kids menu.
Customer Experience & Values
Dining should be fast, delicious, and welcoming. Our staff ensures guests feel cared for and satisfied
every visit. We offer a clean, friendly environment, warm service, and consistent food quality.
Experience & Operational Strength
With over 10 years in the restaurant industry, our team understands efficiency and consistency. Our
systems keep service times low while maintaining high standards.
Vision for the Future
We aim to continue improving service efficiency, expanding affordable offerings, and innovating with
new lunch combos and seasonal dishes.
Jobs
We will be hiring locally for several positions to create jobs for the community.
Business hours and operations We are open daily 11am to 3pm for lunch and
4pm to 9pm for dinner for all year round operations, Foods, Beverages and bar.
Equipment Removal equipment list,
-Grill and ovens -Steamer ovens
149
165
-Round deep fryer New equipment we will bring in,
-Wok station three burners.
5 years lease and option 5 years lease for Lease
renewal of operation.
References 1. The Venture Group Commercial Broker
Becca Posner 970-424-2281 Becca@posner.properties
2.Lyn-Flex West, Inc. Wallace Mcneill +1 (314)
238-4000 luann@lynflex.com 3. Orchard
Mesa Plaza Kathy Harris 970-234-
3838 kathy_harris1950@hotmail.com
Conclusion
Thai Smile Restaurant is committed to providing fast, affordable, high-quality meals. With an 5-15
minute average ticket time, accessible pricing, and dependable service, we are an excellent choice for
programs seeking a reliable dining partner.
Sincerely,
Thai Smile LLC.
Naiyana Pedersen, Owner REDACTED
REDACTED
150
166
151
167
152
168
153
169
154
170
Tino’s Aspen Taquería
155
171
aspen taquerf a
Proposal for Tino's Aspen Taqueria
455 Rio Grande Place, Aspen, CO 81611
M&M Group LLC
martinandmissygroup@gmail.com
REDACTED
156
172
157
173
158
174
159
175
160
176
161
177
162
178
2. Qualifications: Life Insurance Policy Holder
To the City of Aspen Selection Committee,
My name is Maria Healey, and I am writing this letter in support of my sister,
Missy Castaneda, and her husband, Tino Castaneda, as part of their proposal
for the restaurant rental space in the Rio Grande Building.
I wish to formally confirm that I am the holder of a life insurance policy
REDACTED. While this policy is not in Missy's name, the full balance REDACTED
is designated for her support and is fully available to her as needed for
business capitalization, startup costs, and operational stability related to this
proposal.
REDACTED was a longtime Roaring Fork Valley local who lived and worked in
Aspen. During his time in the community, he was employed at both the Hotel
Jerome and Aspen Valley Hospital, and he held a deep affection for Aspen and
the people who make it such a special place. It is meaningful to our family that
his legacy can, in some small way, continue through a locally rooted,
communityfocused business venture in the heart of Aspen.
I am confident in Missy and lino's integrity, work ethic, and commitment to
creating a restaurant concept that aligns with the City's stated goals of
affordability, accessibility, and year-round service for locals and visitors alike. I
fully support their proposal and affirm the availability of these financial
resources to them.
Please feel free to contact me should you require any additional clarification.
Sincerely,
Maria Healey
163
179
164
180
165
181
166
182
167
183
168
184
169
185
170
186
171
187
172
188
173
189
174
190
175
191
176
192
177
193
178
194
179
195
Turkuoise Turkish Kitchen
180
196
181
197
TABLE OF CONTENTS
1. Company Introduction & Ownership
2. Qualifications & Financial Documentation
3. Restaurant Concept & Operations
3.1 Concept Summary
3.2 Full Menu
3.3 Design & Decor
3.4 Hours of Operation
3.5 Kitchen Equipment
3.6 Target Market & Delivery Strategy
4. Lease Terms Proposal
5. References
182
198
1. COMPANY INTRODUCTION
Company Name: Turkuoise LLC
Business Type: Fast-Casual Restaurant
Cuisine: Authentic Turkish & Mediterranean Grill
Address: 300 Wulfsohn Rd, Apt D303, Glenwood Springs, CO, 81601
Email: restaurant@turkuoiseaspen.com
Phone: Local phone line will be obtained upon approval
Website: Social media accounts and website will be created upon approval
Turkuoise LLC aims to introduce the rich culinary heritage of Turkish
cuisine to Aspen through a modern, fast-casual dining concept. Rooted in
centuries-old traditions influenced by Anatolian, Mediterranean, and
Middle Eastern cultures, Turkish cuisine is known for its use of fresh
ingredients, high-quality meats, balanced spices, and a strong emphasis on
hospitality and shared dining. Turkuoise preserves these traditions while
presenting them in an accessible, contemporary format.
The company’s mission is to deliver authentic, high-quality, and
affordable Turkish food through efficient operations and genuine service.
Turkish hospitality—centered on warmth, generosity, and respect for the
guest is a core part of the Turkuoise experience, ensuring that every
customer feels welcomed and valued while enjoying consistently prepared
dishes.
183
199
Turkuoise LLC’s vision is to become Aspen’s most accessible year-round
dining destination, offering reliable quality, fast service, and a family-
friendly atmosphere. By combining traditional flavors with a streamlined
fast-casual model, Turkuoise serves both locals and visitors seeking
flavorful, satisfying meals in a welcoming environment.
Guided by its core values of authenticity, quality, affordability,
community, sustainability, and operational excellence, Turkuoise is
committed to honoring traditional recipes, maintaining high standards,
supporting the local community, operating responsibly, and building a
scalable, efficient business designed for long-term success.
184
200
1. OWNERSHIP
1. Owner / Proposer: Muhammed Huseyin Atli
Experience Summary: I have over two years of hands-on experience working
in my cousin’s kebab restaurant in Turkey, where I learned every aspect of kebab
preparation, from traditional techniques to daily kitchen operations. I come from
a hometown in Turkey that is nationally known for its kebab culture, which gave
me a strong foundation in authentic flavors, quality standards, and respect for
culinary tradition from an early stage of my career. In addition, I have more than
six years of experience in the restaurant industry in Aspen, Colorado, working in
front-of-house positions. Through this experience, I have developed a deep
understanding of both local clientele and international tourists, including their
service expectations, dining preferences, and the importance of delivering
consistent, high-quality guest experiences in a fast-paced, hospitality-driven
environment.
2. Partner: Abdulkadir Sariyildiz
Experience Summary: I worked for over a year at a doner kebab restaurant in
Turkey, where I gained practical knowledge of doner kebab preparation
processes and service standards. For over five years, I have held front-of-house
roles across multiple restaurants located in Aspen, Colorado. Throughout this
experience, I developed a strong understanding of the expectations and
preferences of both residents and visiting guests, while consistently delivering
professional, efficient, and guest-focused service in fast-paced environments. In
addition, I am an automotive engineer, a background that has strengthened my
problem-solving skills, attention to detail, and ability to work systematically in
high-pressure settings.
185
201
3. Partner: Oguzhan Gulden
Experience Summary: I have professional experience in the restaurant and
hospitality industry, having worked in restaurant operations in the United States
and previously in a Turkish cuisine restaurant in my home country Turkey. I
currently work in a hotel environment, where I continue to develop strong skills in
customer service, teamwork, and operational standards. With a solid
understanding of Turkish cuisine and international hospitality practices, I am and
my partners are seeking to establish a Turkish restaurant that emphasizes quality,
authenticity, and consistent service. My background and industry experience
provide a strong foundation for the successful planning and operation of this
business.
4. Partner: Berk Karabulut
Experience Summary: A seasoned hospitality professional with a 10-year
career built on the front lines of the restaurant industry. I have worked on every
FOH position, from host to server to floor supervisor, giving me a comprehensive
understanding of floor dynamics, staff synchronization and guest psychology. I
specialized in creating seamless dining experiences where operational efficiency
meets genuine cultural storytelling. My expertise is anchored by a lifelong
immersion in Turkish cuisine. Blending my FOH experience with great
understanding of Turkish cuisine.
186
202
5. Partner: Hallie Hodson Atli
Experience Summary: I have prior experience working in a food truck
environment, where I gained hands-on knowledge of fast-paced food service,
customer interaction, and efficient order flow. Following this role, I continued my
career in management positions, developing strong leadership skills and strong
competency in business operations, including staff coordination, daily operations,
and workflow optimization. As an American with a Turkish spouse, I bring a
unique cultural perspective that allows me to effectively bridge Turkish cuisine
with American tastes. I will play an important role in adapting traditional Turkish
dishes to suit American dining preferences while maintaining authenticity and
broad customer appeal.
6. Partner: Asya Nur Cinar
Experience Summary: While I do not come from a formal professional kitchen
background, I possess strong knowledge and hands-on understanding of Turkish
cuisine, its ingredients, flavors, and service culture. I have worked in the
hospitality and service industry in Aspen, Colorado for the past four years,
gaining extensive experience with both residents and a high-volume international
tourist clientele. In addition, I am a licensed professional tourist guide, which has
strengthened my communication skills, cultural awareness, and ability to
anticipate and respond to guest expectations. My combined background allows
me to approach restaurant operations with a guest-focused mindset, cultural
authenticity, and a high standard of service consistency.
187
203
2.QUALIFICATIONS
Our team combines authentic Turkish culinary knowledge with extensive
hospitality experience in both Turkey and the United States. We have
hands-on experience in traditional kebab and doner kebab preparation
gained in Turkish restaurants, along with more than a decade of front-of-
house, management, hotel, and food service experience in Aspen,
Colorado. Having worked closely with both local residents and international
tourists, we understand guest expectations, service standards, and the
importance of consistency in fast-paced environments. Our backgrounds
strengthen our operational planning, communication, and problem-solving
capabilities. Together, we bring a balanced approach that preserves the
authenticity of Turkish cuisine while thoughtfully adapting it to the
American market, providing a strong foundation for a successful and
sustainable restaurant operation.
188
204
FINANCIAL DOCUMENTATION
The proposer and all business partners hereby disclose that they have no
history of bankruptcy filings, insolvency proceedings, or any form of
bankruptcy protection, whether personal or business-related. No
bankruptcy process has ever been initiated, nor has any such matter been
resolved or discharged.
Furthermore, the proposer and the partners confirm that they have no
history of legal disputes, claims, or litigation, whether pending or resolved,
formal or informal. There are no past or current legal proceedings that
would require disclosure.
This statement is made truthfully and in good faith for the purposes of
due diligence, financing, and regulatory review.
The proposed business entity is supported by six equity partners, each of
whom maintains independent and ongoing sources of income outside of
this venture. The partners collectively hold financial investments and
tangible assets in Turkey, including physically held gold. Due to the
condensed RFP timeline, comprehensive supporting documentation for
these assets was not available at the time of submission; however, such
documentation can be provided upon request. Notwithstanding this, the
ownership group has allocated sufficient capital to fund all startup costs
and initial operational requirements.
189
205
To further mitigate financial risk, the ownership group has the ability to
pursue a business loan, if necessary, to be used solely as a contingency
should operating revenues not meet projections. Any such financing would
not be relied upon as primary startup funding. The partners collectively
commit to maintaining adequate financial capacity to meet all lease
obligations and ongoing operating expenses in accordance with the
proposed business plan.
190
206
3.RESTAURANT CONCEPT
3.1 Concept Summary
Turkuoise is a fast-casual restaurant operation structured to deliver
authentic Turkish grill cuisine through a high-efficiency service model
designed for volume, speed, and consistency. The culinary program is
centered on core production items including Adana-style grilled kebabs,
beef doner prepared on a vertical rotisserie, a range of traditional Turkish
cold and hot appetizers, and house-prepared hot dishes such as turkish
beans & rice pilaf, and daily soups. The menu is intentionally designed for
streamlined preparation, rapid throughput, and operational reliability.
The concept is engineered to function as a year-round, family-friendly
food service operation serving a diverse customer base, including local
residents, office employees, park users, and nearby cultural venues. Service
flow and kitchen layout are optimized to support fast order turnaround
while maintaining product integrity and food safety standards.
Pricing is structured to meet the City’s affordability guidelines, with core
menu items positioned within the $10–$22 price range, allowing
accessibility without compromising portion size or ingredient quality. The
pricing model supports consistent daily traffic and repeat visits while
remaining aligned with local economic expectations.
Turkuoise is fully compliant with City operational objectives by
maintaining affordable pricing, supporting continuous year-round
operations, and offering expedited service suitable for time-sensitive
customers. The business model also incorporates a take-out and delivery–
ready infrastructure, including packaging, menu design, and workflow
integration, to accommodate off-premise dining demand efficiently.
191
207
3.2 Full Menu
Appetizers
Lentil Patties (5pc)$10 / Vegan
Traditional Turkish dish made from red lentils, fine bulgur, tomato paste, onions,
and mild spices. It is gently mixed, typically shaped into small portions and
enjoyed as a flavorful, plant-based appetizer served cold with lemon and lettuce.
Rated 4.1 out of 5 on Taste Atlas. (Ready to serve)
Sarma (5pc)$12 / Vegan, GF
Grape leaves filled with seasoned rice, currants, herbs, and olive oil, slowly
cooked to develop a delicate, balanced flavor and served cold with lemon. Rated
4.9 out of 5 on Taste Atlas. (Ready to serve)
Kibbeh (2pc) $12
Classic Turkish dish featuring bulgur-based shells filled with a savory mixture of
spiced ground beef, onions, and walnuts, then deep fried until the exterior is
tender and the filling rich and flavorful. Rated 4 out of 5 on Taste Atlas. (5-8 min
to serve)
Babaganoush $9 / Vegan, GF (with GF crackers)
Flavorful eggplant dish prepared with fire-roasted eggplant and peppers,
combined with sautéed onions, tomatoes, olive oil, and garlic for a smoky, rich,
and slightly chunky texture. Served with pita crackers. (Ready to serve)
Mixed Meze Plate $16 / Vegetarian, GF (with GF crackers)
Ezme, Haydari and Carrot Tarator served with pita crackers. (Descriptions are on
Mezes category) (Ready to serve)
Chicken Wings (6pc)$12 / GF
Turkish style marinated & grilled chicken wings. (10-12 min to serve)
192
208
Salads & Soup
Gavurdag Salad $12 / Vegan, GF
Traditional Turkish salad made with finely chopped tomatoes, onions, walnuts,
parsley, and peppers, dressed with olive oil and pomegranate molasses for a
bold, tangy, and nutty notes. Rated 4.4 out of 5 on Taste Atlas. (4-6 min to serve)
Bulgur Salad $10 / Vegan
— Classic Turkish bulgur dish made with fine bulgur, tomato paste, onion,
lettuce, gherkins, olive oil, lemon juice, pomegranate molasses and fresh herbs,
offering a bright, savory, and lightly spiced flavor profile. Rated 4.1 out of 5 on
Taste Atlas. (Ready to serve)
Potato Salad $9 / Vegan, GF
Turkish Potato Salad — Simple yet flavorful dish made with boiled potatoes
tossed with olive oil, lemon juice, onions, parsley, and mild spices, resulting in a
fresh and comforting taste. (Ready to serve)
Piyaz $10 / Vegetarian, GF (Vegan without egg)
Traditional Turkish bean salad made with white beans, onions, parsley, olive oil,
and lemon juice, enriched with egg and mild spices for a hearty yet refreshing
flavor. In top 10 salads on Taste Atlas. (3-5 min to serve)
Red Lentil Soup $9 / Vegan, GF
Classic Turkish lentil soup made with red lentils, onions, carrots, and mild spices,
blended to a smooth and comforting texture and served with lemon.
193
209
Mains
Adana Kebab Plate $20 / GF Wrap $17 (Signature Dish)
Shish kebab refers to the ancient cooking method of skewering meat and grilling
it over open fire, a practice that dates back thousands of years to early
civilizations in the Middle East, Central Asia, and Anatolia. Nomadic cultures
developed this technique as a practical way to cook meat evenly over campfires
across regions and cultures, evolving into various local styles while maintaining
the core principle of simple seasoning and fire grilling to highlight the natural
flavor of the meat. This foundational technique later became the basis for many
kebab varieties found throughout Turkish and global cuisine.
Adana kebab is one of the most iconic examples of this tradition, made from
ground beef blended with tail fat, chili pepper, and salt, shaped onto wide
skewers and grilled over high heat to achieve a bold, smoky, and spicy flavor. (10-
15 min to serve)
Doner Kebab Plate $20 / GF Wrap $17 (Signature Dish)
Born in the 19th-century Ottoman Empire, doner has inspired iconic dishes
around the world, including Arab shawarma, Greek gyros, Canadian donair, and
Mexican al pastor. Traditionally cooked on a vertical rotisserie and thinly sliced to
order, doner was popularized in Germany during the 1970s by Turkish
immigrants and has since become one of Europe’s most beloved fast-food
staples. With its simple, high-quality ingredients and bold, unforgettable flavors,
doner offers a satisfying culinary experience that perfectly fits the fast-paced
lifestyle of the 21st century—authentic, convenient, and irresistibly delicious. (5-
10 min to serve)
Beyti Kebab $22
Grilled kebab wrapped in thin lavash bread, sliced into portions, and served with
yogurt and a light tomato-based sauce, creating a rich and balanced
combination. (12-15 min to serve)
194
210
Iskender Kebab $22
Thinly sliced doner meat served over pieces of pita bread, topped with warm
tomato sauce and melted butter, and accompanied by yogurt for a rich, layered,
placing it among the most celebrated Turkish dishes worldwide. (7-10 min to
serve)
Alinazik Kebab $22
Rich Turkish dish served over a base of babaganoush blended with yogurt and
garlic, topped with either Adana kebab or thinly sliced doner, depending on
preference, and finished with warm sauce for a deeply savory, well-balanced dish.
(10-15 min to serve)
Chicken Shish Kebab Plate $17 / GF Wrap $15
Marinated chicken pieces are skewered and grilled, resulting in juicy, lightly
charred meat with a clean, savory flavor. (10-12 min to serve)
Turkish Beans & Rice Pilaf $18 / GF
White beans slowly cooked with pepper paste and tender pieces of meat, served
alongside fluffy rice pilaf for a hearty and comforting meal. (Ready to serve)
Mezes & Sides
Ezme $8 / Vegan, GF
Finely chopped blend of tomatoes, peppers, onions, parsley, garlic, lemon juice,
olive oil, and spices, offering a fresh, tangy, and light spicy flavor. Rated 4.4 out of
5 on Taste Atlas. (Ready to serve)
Haydari $8 / Vegetarian, GF
Thick strained yogurt blended with garlic, herbs, and olive oil, resulting in a
dense, tangy, and creamy preparation. Rated 4.5 out of 5 on Tate Atlas. (Ready to
serve)
195
211
Carrot Tarator $8 / Vegetarian, GF
Lightly sautéed grated carrots folded into thick yogurt with garlic, creating a
smooth, gently sweet and savory balance with a creamy texture. Rated 4.3 out of
5 on Taste Atlas. (Ready to serve)
Fries $6
Rice Pilaf $9 / Vegetarian, GF
Long-grain rice carefully cooked with butter until light and separate, creating a
rich, aromatic side that complements both grilled meat and stews.
Desserts
Antep Baklava (2pc)$9
Baklava is a traditional Turkish dessert made of very thin layers of phyllo dough,
filled with finely chopped pistachios baked until golden, and then soaked in a
light sugar syrup or honey syrup. It’s known for its crispy layers on the outside,
rich nutty filling inside, and perfectly balanced sweetness. (Ready to serve)
Pistachio Sarma (3pc) $9
Refined dessert made by rolling layers of thin pastry around a generous pistachio
filling, baked until crisp and finished with light syrup for a delicate, nut-forward
bite. Rated 4.6 out of 5 on Taste Atlas. (Ready to serve)
Clay Pot Rice Pudding $8
Baked rice pudding made with milk and rice, finished in the oven until a lightly
caramelized top forms, offering a smooth interior with gentle sweetness and
depth. Rated 4.5 out of 5 on Taste Atlas. (Ready to serve)
** The estimated service times established for menu items will remain
applicable even during periods of simultaneous or multiple orders.
196
212
**Because the items on our menu are not widely recognized, we intend to
develop a more detailed menu supported by visual elements. A preliminary,
non-finalized sample menu is provided below for reference.
197
213
3.3 Design & Decor
The proposed design approach for Turkuoise prioritizes minimal
modifications to the existing space in alignment with the City’s preference
for efficiency, expediency, and cost-effective build-out. No major structural,
mechanical, or layout changes are planned. The primary interior
enhancement will consist of carefully selected wall murals and visual
elements that reflect authentic Turkish culture, culinary heritage, and
hospitality traditions. These additions are intended to create a warm and
welcoming atmosphere while preserving the functionality and integrity of
the existing fixtures, finishes, and equipment provided by the city. This
approach allows for a timely opening, minimizes disruption, and ensures
compliance with City guidelines while enhancing the character of the space
in a subtle and respectful manner.
198
214
3.4 Hours of Operation
Turkuoise ensures continual, daily service throughout the entire year,
supporting the City’s goal of maintaining an active and vibrant
environment. Regular business hours are set from 11:00 AM to 9:00 PM,
providing dependable access for residents, employees, and visitors.
Following receipt of approval from the City, the restaurant is anticipated to
open within one month, contributing to consistent activity and community
engagement.
The restaurant will stay open during the off-season and on significant
holidays, such as Thanksgiving, to foster sustained economic activity and
ensure the community’s continued access.
Once operations are running smoothly and subject to City approval,
Turkuoise may consider introducing a traditional Turkish breakfast service
in the mornings. This option would address the current shortage of
breakfast venues in the City and would be designed to match the
restaurant’s capacity, respect neighborhood needs, and comply with all City
regulations.
199
215
3.5 Kitchen Equipment
As part of the proposed kitchen equipment modifications, the existing
Garland griddle (SE-2) and the Broaster Pressure Fryer 1800 (SE-4) shown in
the current interior elevation will be removed from the cooking line. In their
place, a vertical gas broiler (SE-5) and a gas shish kebab broiler (SE-6), as
shown in the supplemental materials provided, will be installed and
positioned fully beneath the existing Type I kitchen hood. All grease-
producing cooking equipment will be located entirely within the hood’s
capture area to ensure compliance with applicable mechanical and fire
codes. Detailed specifications, certifications, and manufacturer
documentation for the proposed equipment are included in the supporting
documents below.
200
216
201
217
202
218
203
219
3.6 Target Market & Delivery Strategy
Turkuoise is designed to serve customers seeking authentic flavor,
efficiency, and strong value through a fast-casual service model that
accommodates both dine-in and off-premises dining. Discounted menu
pricing will also be extended to City employees and students to further
increase accessibility and community engagement. At present, there are no
Turkish restaurants operating throughout the valley. Drawing on the
ownership team’s professional experience within the local restaurant
industry, customer inquiries regarding the availability of Turkish cuisine
have been frequent and consistent. This recurring feedback demonstrates a
clear market gap and substantiates existing demand, positioning Turkuoise
to effectively meet an underserved segment of the local dining market.
Residents
Due to its proximity to the Hunter Creek and Smuggler neighborhoods,
the location provides a convenient and reliable dining option for residents
seeking a fast, healthy, and affordable meal. The site’s position along major
pedestrian routes naturally support a take-out–focused operation, allowing
residents to easily pick up meals during daily routines. As operations
stabilize and subject to City approval, the business plans to introduce
delivery service to further enhance accessibility for the local community.
204
220
Workers
The concept directly addresses the needs of employees working in
nearby retail shops, banks, and public offices, many of whom have limited
lunch breaks and require quick, dependable food options. Turkuoise offers
fast service without compromising quality, making it an ideal lunchtime
solution. Strong weekday demand from this group also helps generate
consistent revenue during the shoulder season, supporting year-round
operational sustainability.
Rio Grande Park Users and Hikers
Families attending nearby sports activities and early-education programs
benefit from an affordable, family-friendly dining option where they can
relax and eat while waiting for practice to conclude. In addition, hikers
using the Rio Grande Trail are naturally drawn to a nearby location offering
nourishing meals and quick service before or after their activities, further
broadening the customer base.
Events and Seasonal Crowds
Concerts, festivals, and sports tournaments take place year-round at Rio
Grande Park, attracting large and diverse audiences. Rather than relying
solely on food trucks, event attendees will be drawn to a nearby, permanent
dining destination offering high-quality, affordable meals with reliable take-
out service. This creates a compelling alternative for visitors seeking a
consistent and satisfying dining experience before, during, or after events.
205
221
4. LEASE TERMS PROPOSAL
Turkuoise LLC hereby formally and unconditionally accepts all lease-
related, operational, financial, and maintenance requirements as outlined
by the City of Aspen in the Rio Grande Building Restaurant RFP. This
acceptance includes, without limitation, a five (5)-year initial lease term
with one five (5)-year renewal option; the City’s established monthly base
rent structure; percentage rent provisions; responsibility for the pro-rata
share of electricity, water, gas, and sewer utilities; and full operator
responsibility for trash and recycling services, internet and POS systems,
janitorial services, staffing, and grease trap cleaning conducted a minimum
of four (4) times annually. Turkuoise LLC confirms that all such terms are
accepted in their entirety, without exception, reservation, or request for
modification.
206
222
207
223
STAFF REPORT
TO: Mayor and City Council
FROM: Chris Everson, Affordable Housing Development Project Mgr.
THROUGH: Rob Schober, Capital Asset Director
MEMO DATE: January 20, 2026
MEETING DATE: January 26, 2026
RE: Lumberyard Developer Update
______________________________________________________________________
INTENDED OUTCOME: Update only
EXECUTIVE SUMMARY:
Since contracting with Gorman in July 2025, the project team – led by Gorman &
Company along with Gorman Architecture, Deneuve Construction, other consultants and
City of Aspen Capital Asset Department staff – has completed an extensive and
coordinated body of work to advance the project from planning through near permit-ready
design.
Overall, the volume and complexity of work completed in approximately six months
reflects a strong, collaborative effort by all parties, and the project is well -positioned for
the planned implementation.
DISCUSSION:
Project Background: Community outreach and conceptualization began in 2019, and
entitlements were approved in 2023. In July 2025, the City contracted with private
developer Gorman & Company to implement the project.
Under Gorman’s plan, the project will include 277 affordable rental units with one-, two-,
and three-bedroom apartments in three separate buildings, along with associated
infrastructure, landscaping, and amenities. Gorman’s planned schedule is as follows:
April 2026 Closing #1, includes building #1 and related infrastructure
May 2026 Start construction of infrastructure
September 2026 Start construction of Building 1
May 2027 Closing #2, includes Building 2, Building 3 and related infrastructure
June 2027 Start construction of Building 2, Building 3 and related infrastructure
June 2028 Building 1 complete and ready for lease-up
224
January 2029 Building 2 complete and ready for lease-up
June 2029 Building 3 complete and ready for lease-up
Project Update:
Initial coordination included handoff and processing of the phase 0 infrastructure permit
application and detailed review of the recorded planned development documentation.
On the design side, the team worked through building design, unit layouts, interiors, key
materials, utilities planning, and a comprehensive schematic and detailed design process
for phase 1/building 1. This included modular design consultation, and the modular design
process progressed through design lock and factory reservation. Design of construction
documents for phase 1/building 1 was completed, and both local and state building permit
applications were submitted for phase 1/building 1.
At the same time, the team advanced construction-related planning and cost control
efforts, including phase 0 and phase 1 construction estimating, preconstruction planning
and development of the construction management plan .
The team has also made substantial progress on operations planning and legal
documents critical to project delivery. This includes collaboration on City Council lottery
priorities and the EPP program outline, drafting of key closing and legal documents such
as the ground lease, operating agreement, special limited partner agreement, and deed
restriction. This also includes operations planning with APCHA, including the tenant
selection plan and lottery application. Coordination with Mountain Rescue has also
occurred and a draft agreement with MRA is in process. Easement planning and other
due diligence is also ongoing.
Pathway to Closing #1:
Together with Gorman, staff is currently planning the following short term schedule to
get to Lumberyard Closing #1, and construction is expected to begin thereafter:
Aspen City Council:
• Feb 23 or March 9 - Aspen City Council Work Session – Closing #1 final budget,
introduction to closing documents
• March 10 or March 24 - City Council Resolution to approve Closing #1
documents
APCHA Board:
• February 18: Project update, operational plans, proposal for APCHA as SLP
(special limited partner) for tax exemption
225
• March 18: Board resolution to approve special limited partner agreement (and
any other documents for approval if necessary)
Lumberyard Closing #1:
• Target date April 2026
FINANCIAL IMPACTS:
To fund the project, the City has planned the annual project budgets shown below, and
City Council has approved the 2026 budget:
2026 Cash available from the City 150 Housing Fund: $110 million
2027 Funds further described below: $95 million
• $70 million from issuance of debt via revenue bond
• $25 million cash balance from the Housing Fund
2028 Cash available from the City 150 Housing Fund: $15 million
2029 Cash available from the City 150 Housing Fund: $15 million
2030 Cash available from the City 150 Housing Fund: $15 million
Total Estimated City Contribution $250 million
Updated Estimate of Project Sources and Uses:
2026 Closing #1 – Phases 0 and 1
Estimated Sources
• First Mortgage: $14,000,000
• Equity/Sub Debt: $15,000,000
• City Phase 1 Funds: $78,844,765
• City Phase 0 Funds: $40,000,000
• Gorman Funds: $1,300,000
Est. Sources Total: $149,144,765
Estimated Uses
• Design Build: $125,000,000
• Developer Costs: $24,144,765
Est. Uses Total: $149,144,765
2027 Closing #2 – Phases 2 and 3
Estimated Sources
• First Mortgage: $TBD
• Equity/Sub Debt: $TBD
• City Phase 2 Funds: $68,989,170
• City Phase 3 Funds: $62,166,065
• Gorman Funds: TBD
Est. Sources Total: TBD
Estimated Uses
• Design Build: $TBD
• Developer Costs: $TBD
Est. Uses Total: $TBD
226
ENVIRONMENTAL IMPACTS: Enterprise Green Communities Plus with 75% ZE
RECOMMENDATIONS: Update only
ALTERNATIVES: N/A
CITY MANAGER COMMENTS:
ATTACHMENTS:
Exhibit A: Presentation slides
227
Aspen Lumberyard Affordable Housing
Developer Update
January 26, 2026228
Agenda
2 of 8
•Background
•Progress
•Outstanding Coordination
•Sources/Uses
•Pathway to Closing #1
229
Background
3 of 8
•2019 – 2023 Community Outreach and Design
•2023 Entitlements Approved
✓277-304 Units in 3 Buildings
•2025 RFQ/RFP
✓Gorman & Company
✓July 2025 Agreement
•Gorman Plan
✓277 Units in 3 Buildings
✓Phasing: 2 Financial Closings, 2026 & 2027
✓Est. Schedule: 2028-2029 Completion
✓Est. City Contribution: $250 Million*
*does not include
City’s prior sunk costs
of appx $40 million230
Gorman / Team Progress
4 of 8
•Multidisciplinary team mobilized
•Planning to permit-ready design
•Phase 0 and 1 advanced (bldg. 1, 104 units)
•Complex design coordinated
•Modular design locked
•Permit applications submitted
•Construction planning aligned
•Legal docs and operations planning w APCHA
231
Outstanding Coordination
5 of 8
•Connection to City of Aspen
electric grid within easement
areas at AABC
✓Working in collaboration
with City, County and
consultants to find
options
232
Estimated Sources & Uses
2026 Closing #1 – Phases 0 and 1 (104 units)
Estimated Sources
•First Mortgage: $14,000,000
•Equity/Sub Debt: $15,000,000
•City Phase 1 Funds: $78,844,765
•City Phase 0 Funds: $40,000,000
•Gorman Equity: $ 1,300,000
Est. Sources Total: $149,144,765
Estimated Uses
•Design / Build: $125,000,000
•Developer Costs: $26,144,765
Est. Uses Total: $149,144,765
*financial closing goal: April 2026
2027 Closing #2 – Phases 2 and 3 (173 units)
Estimated Sources
•First Mortgage: $TBD
•Equity/Sub Debt: $TBD
•City Phase 2 Funds: $68,989,170
•City Phase 3 Funds: $62,166,065
•Other Funds: $TBD
Est. Sources Total: $TBD
Estimated Uses
•Design / Build: $TBD
•Developer Costs: $TBD
Est. Uses Total: $TBD
*financial closing goal: Spring 2029 6 of 8
233
Pathway to Closing #1
7 of 8
•April 2026 Target Closing #1 Date
•Construction to follow
✓Ph0 infrastructure
✓Ph1 Building #1 (104 units)
•Aspen City Council
✓Feb 23 or Mar 9 Work Session
✓Mar 10 or 24 Resolution on closing docs
•APCHA Board
✓Feb 18 Update and Introduce SLP
✓Mar 18 Resolution on SLP 234
•Discussion & Questions
•Thank you!
Contact:
chris.everson@aspen.gov
Question / Discussion
8 of 8
235