West Greeley Project: Catalyst and Cascadia

Share West Greeley Project: Catalyst and Cascadia on Facebook Share West Greeley Project: Catalyst and Cascadia on Twitter Share West Greeley Project: Catalyst and Cascadia on Linkedin Email West Greeley Project: Catalyst and Cascadia link

In May 2025, Greeley City Council approved the Catalyst project – an investment in West Greeley that will shape the city’s future for decades. An independent analysis run by CBRE estimates $486 million in construction spending and $44 million per year in new revenue from the arena, ice rinks, hotel and water park. Tourism-related revenue is expected to cover the cost of the project without increasing taxes, and could contribute to future public and economic investments.

Greeley is growing. The question isn’t if, but how. Without strategic development, Greeley risks becoming a residential area primarily serving nearby cities. Alternatively, with a clear development strategy, Greeley has the potential to establish itself as a destination, allowing the retention of tax revenue to benefit local residents.

Explore this page to learn more about the project’s funding, timeline and more.

COSTS


FUNDING


FAQs


KEY DATES


What is Catalyst and Cascadia?

The West Greeley Project is an initiative bringing together neighborhoods, industry, agriculture, and natural spaces. A key feature is a public-private partnership in the city’s west side, including a 300-acre mixed-use development:

  • Catalyst (~100 acres) is the city-owned entertainment district that will bring a professional sports arena -- future home of the Colorado Eagles – along with three sheets of ice for youth hockey, a year-round indoor water park and a full-service conference hotel to West Greeley.
  • Cascadia is the privately developed, mixed-use community by The Water Valley Company. The plan features include new neighborhoods, parks, retail, dining, and office spaces – creating a vibrant district that complements Catalyst and supports long-term growth.

Why now?

The Catalyst project aims to represent a significant development opportunity for Greeley, positioning the city as a leader in Northern Colorado. It’s expected to boost Greeley’s economy and create jobs.

The entertainment district is projected to:

  • Create an estimated 2,480 temporary construction jobs
  • Create an estimated 1,220 permanent jobs:
    • 450 Arena and Ice Rink Jobs
    • 550 Hotel and Water Park Jobs
    • 220 Visitor Service Jobs
  • Attract new businesses and investment
  • Boost local business through increased visitor traffic
  • Increase tax revenue without raising taxes

In May 2025, Greeley City Council approved the Catalyst project – an investment in West Greeley that will shape the city’s future for decades. An independent analysis run by CBRE estimates $486 million in construction spending and $44 million per year in new revenue from the arena, ice rinks, hotel and water park. Tourism-related revenue is expected to cover the cost of the project without increasing taxes, and could contribute to future public and economic investments.

Greeley is growing. The question isn’t if, but how. Without strategic development, Greeley risks becoming a residential area primarily serving nearby cities. Alternatively, with a clear development strategy, Greeley has the potential to establish itself as a destination, allowing the retention of tax revenue to benefit local residents.

Explore this page to learn more about the project’s funding, timeline and more.

COSTS


FUNDING


FAQs


KEY DATES


What is Catalyst and Cascadia?

The West Greeley Project is an initiative bringing together neighborhoods, industry, agriculture, and natural spaces. A key feature is a public-private partnership in the city’s west side, including a 300-acre mixed-use development:

  • Catalyst (~100 acres) is the city-owned entertainment district that will bring a professional sports arena -- future home of the Colorado Eagles – along with three sheets of ice for youth hockey, a year-round indoor water park and a full-service conference hotel to West Greeley.
  • Cascadia is the privately developed, mixed-use community by The Water Valley Company. The plan features include new neighborhoods, parks, retail, dining, and office spaces – creating a vibrant district that complements Catalyst and supports long-term growth.

Why now?

The Catalyst project aims to represent a significant development opportunity for Greeley, positioning the city as a leader in Northern Colorado. It’s expected to boost Greeley’s economy and create jobs.

The entertainment district is projected to:

  • Create an estimated 2,480 temporary construction jobs
  • Create an estimated 1,220 permanent jobs:
    • 450 Arena and Ice Rink Jobs
    • 550 Hotel and Water Park Jobs
    • 220 Visitor Service Jobs
  • Attract new businesses and investment
  • Boost local business through increased visitor traffic
  • Increase tax revenue without raising taxes

  • West Greeley Project Telephone Town Hall Draws Over 4,000 Participants

    Share West Greeley Project Telephone Town Hall Draws Over 4,000 Participants on Facebook Share West Greeley Project Telephone Town Hall Draws Over 4,000 Participants on Twitter Share West Greeley Project Telephone Town Hall Draws Over 4,000 Participants on Linkedin Email West Greeley Project Telephone Town Hall Draws Over 4,000 Participants link

    Thank you to everyone who joined us for our first-ever Telephone Town Hall focused on the West Greeley Project. We were thrilled to have more than 4,000 residents on the line, and we appreciate the thoughtful questions, feedback, and energy you brought to the conversation.

    This new format allowed us to connect with the community in an easy, accessible way — and based on your feedback, it was a success. In fact, nearly 70% of participants reported that the event was informative and useful.

    Audio Recordings

    Couldn’t make it? You can now listen to a full recording of the town hall here:

    We received an overwhelming number of questions during the event. Our team is currently reviewing and categorizing all submissions and will be updating the FAQ page to reflect the top topics and concerns raised.

    Poll Results

    We also asked a couple of polling questions during our town hall, and here are the results:

    What are you most interested in learning about tonight?

    1. How and why the City Council made this decision - 18%
    2. The project’s potential (jobs, revenue, amenities) - 17%
    3. How the project is being paid for - 40%
    4. What infrastructure improvements are planned - 14%
    5. What the petition would or would not change - 11%

    What excites you most about the Catalyst project?

    1. A hockey hub for Northern Colorado – supporting youth hockey and a new home for the Eagles - 13%
    2. Fun, year-round spaces for families and friends to enjoy together - 31%
    3. A lively destination that brings people together and celebrates - 21%
    4. More opportunities for new jobs and local businesses - 23%
    5. A transportation hub that connects Greeley to the surrounding community - 13%


  • Join us on July 30 for a Telephone Town Hall

    Share Join us on July 30 for a Telephone Town Hall on Facebook Share Join us on July 30 for a Telephone Town Hall on Twitter Share Join us on July 30 for a Telephone Town Hall on Linkedin Email Join us on July 30 for a Telephone Town Hall link
    supporting image

    The City of Greeley wants you to know the facts about the West Greeley Project, Catalyst, and Cascadia. This is your opportunity to ask our experts your questions and address your concerns live during our West Greeley Project Telephone Town Hall.

    Register to get your direct phone call to join us on:
    Wednesday, July 30th at 6:00 p.m.

    REGISTRATION HAS CLOSED


  • How Is the City Paying for Catalyst?

    Share How Is the City Paying for Catalyst? on Facebook Share How Is the City Paying for Catalyst? on Twitter Share How Is the City Paying for Catalyst? on Linkedin Email How Is the City Paying for Catalyst? link

    Greeley is using proven financial tools to fund Catalyst – without raising taxes. These tools protect public ownership, maintain city services, and support continued investment in other major projects across the city. The City of Greeley estimates all project costs will be repaid by 2038.

    Key Funding Tools

    • Certificates of Participation (COPs):

    A standard financing method used for past projects like our fire stations and City Center South. The city temporarily leases buildings (like City Hall) to secure a loan, makes lease payments using existing revenue, and keeps full ownership.

    • Nonprofit Bond Financing (501(c)(3):

    A nonprofit partner will issue long-term bonds to finance the Entertainment District, manage construction of the arena, ice center, waterpark and hotel, and operate the project. Once the bonds are paid off, the city regains full ownership of the Entertainment District assets – without taking on the long-term debt itself.

    • Moral Obligation Pledge:

    A promise that the City Council makes to support the project financially if needed. It is not a legal debt and does not commit tax payer funds when made. If funding is needed in the future, the City Council would consider providing this funding through the standard appropriation process.

    • Annual Economic Development Payment:

    The city will provide a $12 million annual payment, to be reimbursed by the nonprofit over time.

    • General Improvement District (GID):

    A special taxing district will fund infrastructure improvements – paid only by properties that directly benefit.

    • Enterprise funds:

    Water, sewer, and other utilities will be paid for by the users – not with tax dollars.

    These tools have been used successfully in Greeley before and are common in cities across Colorado.


  • How much is Catalyst going to cost?

    Share How much is Catalyst going to cost? on Facebook Share How much is Catalyst going to cost? on Twitter Share How much is Catalyst going to cost? on Linkedin Email How much is Catalyst going to cost? link

    The estimated costs of this initial phase is $832 million to help design, build, infrastructure and utilities. The initial phase of Catalyst includes the development of:Catalyst Initial Phase Costs, Funding, and Repayment

    • Eagles Arena: A state-of-the-art facility for professional hockey and large events

    • Youth Hockey: Three ice sheets, NHL regulation size, for youth hockey

    • Indoor Water Park: A family-friendly destination for year-round fun

    • Hotel & Convention Center: Supporting tourism, conferences, and business

    • Mixed-Use Neighborhoods: Blending retail, restaurants, housing, and green spaces

    • Retail & Dining: National and local brands that create jobs and activate the area

    On March 25, 2025, the City gave a presentation about where the money for the project would come from and how it would be used. The project was approved through the usual legal steps that big public projects in Greeley and Colorado follow.


  • Petition Filed to Repeal West Greeley COP Funding Ordinance

    Share Petition Filed to Repeal West Greeley COP Funding Ordinance on Facebook Share Petition Filed to Repeal West Greeley COP Funding Ordinance on Twitter Share Petition Filed to Repeal West Greeley COP Funding Ordinance on Linkedin Email Petition Filed to Repeal West Greeley COP Funding Ordinance link

    On June 18, 2025, the City of Greeley received a notice of intent to circulate an initiative petition seeking to repeal Ordinance No. 15, 2025 which authorized Certificates of Participation (COPs) to fund early work on the West Greeley Entertainment District.

    This petition was filed as an initiative, not a referendum.

    Referendum
    		 Initiative
    • Must be filed within 30 days of a Council vote on an ordinance
    • Can be filed at any time and allows residents to propose a new law or repeal an existing one by collecting enough valid signatures to place an issue on a future election ballot.
    • Once filed, a referendum will stay enforcement of a newly passed ordinance before it takes effect, pending a public vote
    • An initiated ordinance petition does stay any existing ordinance


    The City intends to follow through with the legal and financial steps already authorized by Ordinance No. 15, 2025, including entering into lease-purchase agreements to finance pre-development activities unless otherwise directed by the City Council.

    Learn more about why that distinction is important.

  • Project & Financing Facts Residents Should Know

    Share Project & Financing Facts Residents Should Know on Facebook Share Project & Financing Facts Residents Should Know on Twitter Share Project & Financing Facts Residents Should Know on Linkedin Email Project & Financing Facts Residents Should Know link

    To help residents make informed choices when deciding whether to sign the petition, here are important facts about the project and how it’s funded:

    • The current plan avoids new taxes. The project is funded by revenue generated primarily within the West Greeley Project Areas, not from new taxes on Greeley residents. Like any long-term project, unexpected events such as an economic downturn could impact revenue.
    • Certificates of Participation (COPs) are being used to fund early-stage design and infrastructure work. This is a commonly used municipal tool. The COPs will be repaid from the long-term bonds to be issued to finance construction.
    • A nonprofit 501(c)(3) will issue those bonds to finance construction. The City is not the borrower.
    • A General Improvement District (GID) will support infrastructure through a mill levy and special assessment applied only to properties within the development boundary.
    • The City maintains a moral obligation to keep reserve funds whole if the project underperforms — but safeguards are in place to minimize this risk.
    • By 2065, the project is projected to generate $360 million+ in net new revenue for the City.

    View the FAQs.


  • Ordinance No. 15, 2025

    Share Ordinance No. 15, 2025 on Facebook Share Ordinance No. 15, 2025 on Twitter Share Ordinance No. 15, 2025 on Linkedin Email Ordinance No. 15, 2025 link

    City Council Holds Public Hearing on West Greeley Project Financing

    On Tuesday, May 6, the Greeley City Council held a public hearing and second reading of an ordinance related to financing pre-development services for key components of the West Greeley Project—including a new arena, ice center, hotel, and indoor water park.

    Ordinance No. 15 also covers the associated public infrastructure improvements and authorizes the execution of a site lease, lease purchase agreement, and related documents as part of the West Greeley Certificates of Participation (Series 2025A).

    📺 Watch the full council meeting:
    City Council Meeting – May 6

    📄 View the agenda, meeting notes, and packet:
    Council Meeting Materials

Page last updated: 08 Aug 2025, 03:33 PM