How Is the City Paying for Catalyst?

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.