Frequently Asked Questions
FAQs
The City of Greeley will be the owner of the district. That means all the revenues from sales tax, lodging tax, and every other benefit of ownership will stay within Greeley – and not leak into neighboring communities like Loveland or Windsor.
No new taxes, and no resident will be asked to pick up the tab. The financing for this agreement will be paid through ticket sales, lodging, retail, and public improvement fees (PIFs). The City Council has also approved the limited and strategic use of Certificates of Participation (COPs) — a standard tool for financing infrastructure that enables the City to avoid incurring new debt.
Certificates of Participation (COPs) are lease-purchase financings commonly used by Colorado state and local governments (the “issuer”) to build or acquire capital facilities when other funds are not available. They are most commonly used for the purchase or construction of real property that the City will own. This includes public facilities like:
- office buildings
- courthouses
- public safety facilities
- park improvements
- parking facilities, and
- convention centers
Greeley keeps ownership of all assets. And as owner of these assets, the City is the beneficiary of all of the revenue generated on the entertainment district site. Here are some other reasons to consider:
- This project will be transformational and drive additional development for Greeley – adding to tax base and providing much needed housing and public amenities for Greeley’s youth and families.
- This project is anticipated to generate significant revenue on site that will provide funding for other Greeley needs.
- Does not impact the city’s bonding capacity for other needs or increase the city’s debt.
- This project does not require an increase in taxes to deliver new city-owned assets.
Yes! COPs are a common government financing tool. Greeley has utilized COPs to fund other capital projects successfully and responsibly in the past. These include:
- 1997: Acquisition and construction of Boomerang Links Golf Course
- 2000: Construction of Island Grove Events Center
- 2016: Construction of Fire Station #1 & City Center Phase I (Municipal Court, City Council Chambers)
Hardly. The COP used to help finance a portion of the West Greeley Entertainment District is about $115 million, or about 10% of the total cost of the project.
- State of Colorado, Capital Complex Renovations, $250 million
- City of Denver, Expansion of Colorado Convention Center, $230 million
- Larimer County, Justice Center Expansion, $50 million
Other notable uses of COPs include the City of Evans' Police Facility ($26.8 million) and the Windsor Severance Fire Protection District.
Myths and Misinformation
False. COPs are a common government financing tool used by Greeley and across Colorado to responsibly fund capital projects. Other COPs used by other towns and the State of Colorado include:
- Colorado, Capital Complex Renovations, $250 million
- City of Denver, Expansion of Colorado Convention Center, $230 million
- State of Colorado, University of Northern Colorado Osteopathic School, $127.5 million
- Larimer County, Justice Center Expansion, $50MM
- City of Evans, Police Facility, $26.8MM
No tax increases. No blank checks. The project is funded by the revenue it generates from hotel stays, tickets, and sales at restaurants and shops — not by residents or taxpayers. If it doesn’t perform, the city isn’t stuck with the bill.
These buildings stay open and in use the whole time. COPs are a legal and commonly used financing method in communities across Colorado, including in Loveland and Denver, and the city regains full control once bonds are paid. It’s like a short-term lease-back — not a sale.
That’s what we elected our Council to do. They studied the finances, held public meetings, and passed it by a supermajority after vigorous analysis and discussion. COPs are approved by cities all over Colorado — they’re not subject to referendums under state law because they don’t create long-term debt.
This is just silly. This project is designed to attract visitors from across the region, state, and nation – enables Greeley to keep the money they spend here, instead of having it spent elsewhere. Greeley families can still enjoy the park, trails, events plaza, and free amenities — and it creates local jobs and tax revenue to support schools and services.
Repealing the project will delay jobs and new revenue, add legal risk, and once again push major employers to neighboring communities.