Aspen, Colorado, is set to become the new home for car rental companies.
Aspen City Council unanimously approved a motion this week that would authorize Aspen City and County governments to acquire up to two-thirds of the companies operating in the area.
The companies would become the sole property owners of the property, and as the city develops, the city would use proceeds from the sales of their assets to fund the purchase of new businesses and other needs.
The Aspen-based car rental company, Aspen Rentals, is already a part of the Las Vegas region and has a presence in Reno and Scottsdale.
Aspen Mayor Matt Bresler said the move is part of a long-term strategy to revitalize the city.