West Greeley Project: Catalyst and Cascadia

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The West Greeley Project is a transformative initiative spanning 22 square miles, designed to provide a mix of uses for our community, including neighborhoods, industrial and commercial areas, agricultural land, river corridors, and natural spaces.

As part of Greeley’s continued efforts to grow thoughtfully and sustainably, City Council approved targeted funding in April 2025 to support the creation of a new entertainment district at the western edge of the city. This strategic investment aligns directly with Greeley’s long-term vision to diversify the local economy, enhance quality of life, and foster vibrant, connected neighborhoods.

A part of the West Greeley Project features a 300-acre public-private partnership in the western part of the city, encompassing two developments:

  • Catalyst (city-led entertainment district): At the core of this development is the city-led Catalyst project—a Greeley-owned entertainment district that will feature a professional sports arena, three sheets of ice for youth hockey, a year-round indoor water park, a conference hotel, and a vibrant public plaza. Catalyst is designed to serve as a regional destination and ignite further development and revenue generation across West Greeley.

  • Cascadia (private mixed-use community by TWVC): Surrounding the Catalyst project is Cascadia, the name of The Water Valley Company’s (TWVC) large-scale mixed-use community. This community will include new neighborhoods, parks, trails, retail, dining, and office spaces.

Together, these projects are creating a live-work-play environment aimed at long-term success and regional attraction. Through careful planning, infrastructure coordination, and leveraging partnerships, the West Greeley Project reflects the City’s priority to develop in a smart, balanced way—growing outward while honoring where we began. It is a tangible example of Greeley’s commitment to being a place where history and progress live side by side.

We invite you to explore this page to learn more about the project's funding, timeline, discussions held at council meetings, work sessions, and public meetings, as well as the FAQs.


FUNDING

KEY DATES


What’s Coming to West Greeley?

The development will include:

  • 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

Why This Project Matters

This project is about more than just buildings—it’s about shaping Greeley’s future. This project puts Greeley on the map as a destination city, strengthening its voice and reputation across Colorado and beyond.

Economic Growth & Quality of Life

The entertainment district will:

  • Create hundreds of jobs in construction, retail, hospitality, and recreation

  • Attract new businesses and investment to the region

  • Generate new sales and property tax revenue to reinvest in our city

  • Attract regional and national tournaments to the youth hockey center, generating consistent hotel stays, restaurant visits, and retail spending

Residents can look forward to a:

  • New entertainment and recreation options

  • Unique place to gather, live, shop, and play

  • Stronger connection to community, civic pride, and identity

  • Vibrant, inclusive space for young athletes and families through a top-tier sports facility

The West Greeley Project is a transformative initiative spanning 22 square miles, designed to provide a mix of uses for our community, including neighborhoods, industrial and commercial areas, agricultural land, river corridors, and natural spaces.

As part of Greeley’s continued efforts to grow thoughtfully and sustainably, City Council approved targeted funding in April 2025 to support the creation of a new entertainment district at the western edge of the city. This strategic investment aligns directly with Greeley’s long-term vision to diversify the local economy, enhance quality of life, and foster vibrant, connected neighborhoods.

A part of the West Greeley Project features a 300-acre public-private partnership in the western part of the city, encompassing two developments:

  • Catalyst (city-led entertainment district): At the core of this development is the city-led Catalyst project—a Greeley-owned entertainment district that will feature a professional sports arena, three sheets of ice for youth hockey, a year-round indoor water park, a conference hotel, and a vibrant public plaza. Catalyst is designed to serve as a regional destination and ignite further development and revenue generation across West Greeley.

  • Cascadia (private mixed-use community by TWVC): Surrounding the Catalyst project is Cascadia, the name of The Water Valley Company’s (TWVC) large-scale mixed-use community. This community will include new neighborhoods, parks, trails, retail, dining, and office spaces.

Together, these projects are creating a live-work-play environment aimed at long-term success and regional attraction. Through careful planning, infrastructure coordination, and leveraging partnerships, the West Greeley Project reflects the City’s priority to develop in a smart, balanced way—growing outward while honoring where we began. It is a tangible example of Greeley’s commitment to being a place where history and progress live side by side.

We invite you to explore this page to learn more about the project's funding, timeline, discussions held at council meetings, work sessions, and public meetings, as well as the FAQs.


FUNDING

KEY DATES


What’s Coming to West Greeley?

The development will include:

  • 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

Why This Project Matters

This project is about more than just buildings—it’s about shaping Greeley’s future. This project puts Greeley on the map as a destination city, strengthening its voice and reputation across Colorado and beyond.

Economic Growth & Quality of Life

The entertainment district will:

  • Create hundreds of jobs in construction, retail, hospitality, and recreation

  • Attract new businesses and investment to the region

  • Generate new sales and property tax revenue to reinvest in our city

  • Attract regional and national tournaments to the youth hockey center, generating consistent hotel stays, restaurant visits, and retail spending

Residents can look forward to a:

  • New entertainment and recreation options

  • Unique place to gather, live, shop, and play

  • Stronger connection to community, civic pride, and identity

  • Vibrant, inclusive space for young athletes and families through a top-tier sports facility

  • Petition Filed to Repeal West Greeley COP Funding Ordinance

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    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

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    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 full financial FAQs.


  • How Is the City Paying for This?

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    The City of Greeley is using a combination of responsible, proven financing tools to fund the West Greeley Entertainment District—without raising taxes. These tools allow us to move forward with other major projects while protecting public ownership and keeping city finances strong.

    Certificates of Participation (COPs): This is a common funding tool cities use to borrow money without raising taxes. This tool has been used for many other projects in Greeley, including our local fire stations, City Center South, Family Funplex, Union Colony Civic Center, and the Police Headquarters.

    Here’s how they work:

    • The City temporarily leases, not sells, public buildings (like City Hall) to a financial institution to secure a loan.
    • The financial institution then leases the public buildings back to the City allowing the City to keep using the buildings as normal.
    • Over time, the City makes lease payments using projected revenues––not new taxes.
    • The City expects to roll the COP obligation into long-term bond financing by the 501(c)(3) before any lease payments are due.
    • Once the loan is paid off, the leases end and the City keeps full ownership of the public buildings.”

    In this case, COPs are being used to fund the pre-development phase, and the COP obligation will be repaid once long-term bonds for construction are issued.

    501(c)(3) Conduit Financing: This tool allows a nonprofit entity—not the City—to issue the long-term construction bonds. The nonprofit will:

    • Lease the land for the entertainment district from the City
    • Issue and manage the debt
    • Oversee project construction and operations

    Once the long-term bonds are fully repaid, the nonprofit will transfer full ownership of the project back to the City. This approach allows the City to support the project without taking on long-term debt itself.

    Moral Obligation Pledge: A moral obligation means the City agrees to consider adding money to a project if needed. It’s not a legal debt and does not automatically require taxpayer funding.

    Annual Economic Development Payment: To help ensure strong financing, the City has agreed to provide a predictable payment each year beginning at $12 million dollars adjusted annually. The nonprofit will repay the City—until the full amount is reimbursed.

    General Improvement District (GID): The City will establish a GID to pay for public improvements for the project and adjacent areas—a GID is a special taxing district limited to properties that directly benefit from the public improvements made.

    Enterprise Funds: Enterprise funds, such as water and wastewater infrastructure, are funded by user fees—not taxes. These services are paid for by those who use them, keeping utility systems sustainable and self-supported.

    These tools work together to fund the project in a way that is financially sound, widely used, and aligned with how Greeley has successfully delivered other major infrastructure and community investments in the past.

    Why wasn’t there a public vote?

    Just like many other Colorado cities, Greeley is using a standard financial tool that may be approved by ordinance—not requiring a vote. It’s secure, transparent, and governed by state law. Over the past year, the City has:

    • Held 25+ meetings with residents, businesses, and community groups
    • Hosted 5 open houses for public feedback
    • Shared updates at City Council meetings
    • Participated in events like the Greeley Stampede
    • Created a project website with contact info, FAQs, and more

    What can you do?

    • Attend a public meeting
    • Sign up for the newsletter
    • Visit the City’s booth at upcoming events (Arts Picnic, Friday Fest, Farmers' Market)


Page last updated: 18 Jul 2025, 01:50 PM