The developer of a $500 million wind farm slated to be built at CSU's Maxwell Ranch now has until the end of October to solve problems with its lease agreement with the university.

The Colorado State University Research Foun-dation on Friday voted to extend a 60-day deadline by a month for Wind Holding LLC to get the wind farm project back on track.

In July, CSURF notified the company the deal to build the wind farm might be canceled because Wind Holding was financially overextended and facing construction liens from vendors. CSURF gave the company until Sept. 25 to return to good standing.

But on Friday, the CSURF trustees voted to extend the deadline because Wind Holding is making progress in striking a deal with a new developer.

"We are providing them this additional 30 days to finalize that deal, which would allow for a transfer of the lease," Bill Farland, CSU senior vice president for research and engagement, said in a statement Monday.

Farland said he can't comment on which contractor the lease might be transferred to, but he expects the new contractor will be able to submit the necessary permits for wind farm construction over the next few months.

"They are negotiating with Wind Holding to be able to have the benefit of all the work products Wind Holding has been developing over the course of the last two years," including wind data, ecological studies, noise studies and other information about turbine placement, he said.

Though the wind farm was expected to be operational by 2010, CSU gave Wind Holding eight years to finish the project.

When complete, the CSU Green Power Project will include 100 wind turbines each on a tower about 290 feet tall. The wind farm will span about 8,000 acres of the university's Maxwell Ranch.