The Colorado State University Research Foundation announced Nov. 2 that it could not reach agreement with Wind Holding LLC on a path forward for development of the Maxwell Ranch wind farm. Given the expiration of the Oct. 31 deadline for Wind Holding to cure problems in its lease, the foundation has found the private company officially in default, according to Bill Farland, senior vice president for Research and Engagement at CSU. Farland said CSURF will officially notify Wind Holding this week that it is in default.

CSURF in July gave Wind Holding 60 days to pay what Farland characterized as a "significant amount" owed to contractors and to start construction of the wind farm as required in its contract. CSURF then extended the deadline another month in a continuing effort to revive the project.

In the statement issued Nov. 2, Farland called the demise of the Wind Holding contract a temporary setback for the project and said the university is still very committed to building a wind farm on the site. Many of the people who own rural property surrounding the Maxwell Ranch have opposed the project.

University spokesman Jim Beers said CSURF will take several weeks to review its options. The university is not actively seeking requests for proposals at this time, Beers said.