The proposed acquisition of private land destined for use as a public park — the largest in Denver’s history — will head to the full City Council next week.

Members of the city’s Finance and Governance Committee gave Mike Johnston’s Park Hill land swap deal the green light on Tuesday. It would exchange the now-defunct golf course property for a 145-acre parcel of land in Adams County adjacent to Denver International Airport.

The Land Use, Transportation and Infrastructure Committee also approved on Tuesday the rezoning of the property.

Under the terms of the agreement with the city, the current owner, developer Andy Klein of Westside Investments, would exchange the 155-acre Park Hill parcel at 4141 E. 35th Ave. for a 145-acre parcel situated at Valley Head Street and Hayesmount Road, between East 56th and 64th avenues, near DIA.

City officials said appraisals value the Park Hill site at $12.76 million and the 56th Avenue parcel at $12.75 million.

The city will pay Westside Investments using 2A voter-approved dollars from the Denver Parks Legacy Fund.

Denver Parks and Recreation Executive Director Jolon Clark said no projects scheduled to be supported by the Legacy Fund would be deferred because of the land swap agreement.

The money will be transferred to DIA as part of the land swap deal.

Both properties are restricted from residential development.

The city has complied with all FAA requirements to move forward with the transaction.

Under state law, the conservation easement will be extinguished once both the land and the easement are owned by the City and County of Denver, allowing the city to manage the site as a park with a broader range of uses beyond that of a golf course.

City officials said the next steps include a due diligence period, during which a nominal lease will be arranged between the two parties, allowing the city access to the park to address any safety issues and prepare it for passive use, such as walking trails and picnic tables, in the short term.

The park is slated to open to the public on a limited basis this summer.

Clark said the city has already started reaching out to the community, inviting the public to help shape the park’s future.

Westside Investment Partners purchased the property in 2019 for approximately $24 million, with the hope of convincing the city to lift a conservation easement placed on the property, which would enable plans for a major mixed-use development project.

A first reading before the City Council is slated for May 5, with a final reading on May 12.

City officials expect the real estate deal to close sometime this fall.