Telephone Town Hall Questions and Answers

We took your questions from during the Town Hall and are responding to them here.

Q: If this is being funded by taxpayer money, why wasn’t this on a ballot?

A: This project is not being funded by new taxes, and that’s why a citywide vote wasn’t required. Greeley is using standard financing tools, specifically Certificates of Participation (COPs), that are widely used by cities across Colorado to fund major projects without raising taxes – including the City’s recently approved Downtown Civic Campus Project. These tools are legally approved through a public ordinance process, which includes multiple public hearings and council votes. That’s exactly what Greeley followed.

We understand that "taxpayer money" can mean different things to different people. In this case, no new general taxes are being used. Instead, the project is expected to pay for itself using revenue from inside the development—like ticket sales, lodging and sales taxes and Public Improvement Fees (PIFs) paid by people who use the arena, water park, restaurants, hotel and retail.

It’s also important to understand the timing. The Colorado Eagles are the anchor tenant of the new arena, and in order to keep them in Greeley, the City needed to move forward on a very tight timeline. Delaying the project for a public vote would have likely caused Greeley to lose the opportunity to bring the team and its regional economic benefits to the city. That would have been a major missed opportunity for the City and its future.

This has been a transparent and open process, even though it didn’t go to a formal public vote. Council followed the law, acted within its authority and for the best interest of the city.

Q: Why is the city moving forward with leasing agreements and promotional efforts when there is an active petition calling for a public vote?

A: We respect the petition process; it’s an important part of democracy. But under Colorado law, an initiative petition does not automatically stop a project or ordinance from moving forward.

Because of that, the City continues to move forward with work that’s already been approved, including early design, lease planning and public outreach. We remain committed to keeping residents informed and engaged every step of the way, even as the petition process plays out.

Q: How do you plan to secure enough events beyond Eagles games, especially with competition from Blue Arena?

A: The Catalyst arena is being designed to host a wide variety of events beyond just Eagles hockey. This includes:

Youth and collegiate tournaments

Concerts and performing arts

Conventions and trade shows

Ice time for community leagues and recreation

Blue Arena is a regional asset, but demand for event space in Northern Colorado is growing. With Greeley’s population expected to increase, there’s room for multiple venues to succeed. The City and its nonprofit partner will work with event promoters to build a calendar that complements—not competes with—other venues in the region.

Q: I understand this project is using City assets. What other options were considered before making that choice?

A: The City looked at several funding options over the course of more than a year. Ultimately, it chose to use Certificates of Participation (COPs) to cover early planning and design. COPs allow the City to use public buildings as temporary collateral—without selling anything and without raising taxes. This is a common tool used by cities across Colorado.

Importantly, these early funds are a bridge, not a burden. They are scheduled to be fully repaid in 2026 when a nonprofit issues long-term construction bonds. This structure limits risk to the City while keeping the project moving forward.

Q: What do Greeley schools get out of this project?

A: While the project site falls within the Windsor RE-4 School District, Greeley schools and students still benefit in meaningful ways.

First, the project will generate millions in new revenue, through sales taxes, lodging taxes and Public Improvement Fees, that go directly to the City of Greeley. These funds support services like roads, parks, police and fire that benefit the entire community, including schools in District 6.

Second, the Catalyst Ice Center will offer new opportunities for youth programming, school partnerships and local sports. The City is exploring ways to ensure Greeley students have access through events, leagues, and partnerships.

Third, the project will bring hundreds of jobs to the area, creating pathways for Greeley students and graduates to gain work experience in hospitality, events and operations.

In short: while property tax from this specific development benefits Windsor schools, the broader impact of the project supports Greeley families and students in a range of long-term, tangible ways.

Q: How much will this worsen traffic on US34?

A: We hear the concern about traffic and the City is already working to address it.

Planning for traffic improvements began well before this project was approved. In 2023, the City of Greeley Public Works and Transportation Department began design work on a major upgrade to the intersection at County Road 17 and US34, one of the most congested corridors in the region.

As part of that effort:

A comprehensive traffic model was created using current traffic counts, queuing data and projected growth from both the West Greeley project and surrounding development.

The City worked closely with the Colorado Department of Transportation (CDOT) to evaluate options and align long-term plans with state and regional transportation goals.

The result is a planned grade-separated interchange at WCR 17 and US34, meaning an overpass or underpass that will allow traffic to move more freely and safely.

That project is already in design and is scheduled to open in 2028, ahead of the full buildout of the Catalyst and Cascadia developments. In the meantime, the City is investing in interim improvements, signal timing adjustments, and coordinated road upgrades across the district.

We’re also building a Mobility Hub near the site, a multi-modal transportation center that will connect with local and regional bus lines, future Bus Rapid Transit (BRT), and other travel options to reduce car dependency.

So to be clear: This project isn’t happening in isolation. Transportation planning and investment are happening in parallel to make sure the infrastructure keeps pace with growth.

Q: Why is this project different from failed ones in places like Broomfield?

A: There are key differences:

Ownership: This project is publicly owned. The developer does not own the entertainment district.

Phased approach: The project grows over time based on performance—not all at once.

Diversified funding: Revenues come from many sources—not just ticket sales.

Reserves and protections: Built-in safeguards like a $53M reserve fund help manage risk.

The City studied past failures to make sure we’re not repeating the same mistakes. This plan has more flexibility and more oversight than those projects did.

Q: Is the City prioritizing a water park over schools, housing or quality of life?

A: The City isn’t prioritizing a water park over schools or basic community needs. That’s a misunderstanding of the bigger picture. This project is about long-term investment in Greeley’s economy, and the water park is just one part of a larger plan designed to help fund, not compete with, the services our community depends on.

Here’s the reality:

The Catalyst project will generate tens of millions of dollars in new revenue over time through tourism, entertainment, retail and hospitality.

That revenue helps fund city services like public safety, infrastructure parks, and community programs, all of which directly improve quality of life.

The project also helps attract and retain employers, skilled workers and families, which supports the long-term health of our schools and housing market.

We’re not using education dollars or housing funds to build the Catalyst district. This is a strategic investment that pays for itself and strengthens Greeley’s future tax base, helping fund the very priorities some fear it replaces.

This type of economic catalyst is what allows cities to fund more affordable housing, enhance public amenities and improve quality of life, not less. This isn’t a distraction from our community’s priorities, and it won’t delay the progress of projects that are already in progress, it’s a way to help sustain, grow and even fund them.

Q: Will the Eagles have exclusive rights to all hockey at the new facility?

A: No. The Eagles have priority scheduling, but the arena and ice center are designed to support many other uses. This includes:

Youth hockey programs

High school teams

Collegiate and Olympic-level events

National tournaments

The City is working to build a year-round calendar that supports community access and local athletes.

Q: Will this hurt downtown Greeley? What’s the plan to support both areas?

A: The City sees this as a both-and—not either-or. The entertainment district is expected to draw more visitors to Greeley, many of whom will explore downtown restaurants, hotels and shops.

In fact, the City is planning to use similar financial models to support downtown infrastructure projects in the future. Growth in West Greeley can expand the City’s tax base, which helps fund revitalization across the entire city.

Q: What is the hotel capacity that needs to be filled regularly to turn a profit, same for hockey arena and water park?

A: The Pre-Development Services and Financing Agreement, approved by City Council on April 15, 2025, contains the project proforma which includes net operating income generated by each of the project’s components. The Hotel and waterpark proforma includes occupancy rates beginning at 65.5% in 2028 increasing to 83.5% in 2037. In 2029, the first full year of operation, the proforma reflects an occupancy rate of 69.7% for a full year, with gross profit of $24.7 million.

The proforma for the arena reflects 505,234 annual visitors which equates to an average event occupancy of 23.59%. In 2029 the first full year of operation, the proforma for the arena and three sheets of ice reflects a profit of $6,621,705 prior to deposits into reserve accounts.

A third-party consultant, will be performing a study on the reliability of the proforma in preparation for the 501c3’s debt issuance to finance the project. At that time a sensitivity analysis will be performed to determine the required occupancy to generate the revenue necessary to fund facility operations, debt service, and reserve requirements.

Finances

Q: Will Loveland, Windsor, Johnstown, Milliken Invest too? NOCO partnership?

A: The Catalyst project will be owned by the City of Greeley when the 501c3 pays off all related debt, ensuring that affiliated revenues benefit the community. While Greeley often collaborates with neighboring communities, Loveland, Windsor, Johnstown and Milliken have no investment commitments tied to this project.

Q: Is this property on Greeley property or Windsor? How much will our property taxes go up here in Greeley?

A: The property is located entirely within the City of Greeley. All planning, zoning, and development decisions fall under Greeley’s jurisdiction.

The Catalyst project is not funded through a citywide tax increase. It uses a revenue-generating district model, where the development itself pays for the public infrastructure, it requires. This means existing Greeley property owners will not see a property tax increase as a result of the project.

Over time, amenities like Catalyst could make Greeley an even more attractive place to live, work and play. If that happens, property values in the area could rise. Any increase in property taxes would come from higher property values, not from a new tax related to this project.

Q: What interest rate will the bonds go for when they enter the market?

A: It is impossible to say at this point. Interest rates for bonds are set based on market conditions at the time of issuance and depend on several factors, including credit ratings, financial markets and bond structure.

Q: Who is the 501c3 partner? Who manages it?

A: Through a formal solicitation, the city has selected Provident Resources Group to act as the conduit borrower for the bonds through a competitive procurement process. This will be done through a 501(c)(3). Provident has created a Special Purpose Entity in Colorado for this purpose. Provident Resource Group was selected to form the 501c3 to act as conduit borrower for this project. The 501(c)(3) partner has not yet been formally created or named, and governance details are still being finalized. More information will be shared as those structures are confirmed.

Infrastructure

Q: Who will be the project manager?

A: The Catalyst project will be overseen by Managing Director Paul Trombino for the City of Greeley. He is responsible for overseeing the next phases, ensuring alignment with community goals and guiding the overall implementation of the project. As with any project of this size and scale, he will be working with both an internal team and outside developers to insure the project’s execution and success.

Q: Greeley recently flooded on the east side of town. Will Cascadia impact storm drains on that part of town?

A: No, the Catalyst and Cascadia projects will not impact stormwater systems or flooding issues on the east side of Greeley. That said, the City of Greeley is actively addressing flooding concerns in Downtown and East Greeley through a series of major, long-term infrastructure investments. One such project is already underway. The 12th Street Outfall project, is part of a broader set of stormwater improvements designed to reduce flooding risks, increase capacity, and modernize drainage systems. For more information on these projects, go to: https://speakupgreeley.com/stormwater-investments

Q: Are there plans for the salvage yard currently on the property site?

A: Planned transportation improvements at Weld County Road 17 and US 34 – including a new mobility hub at 131st Avenue – will require right of way acquisition and are expected to impact existing access to US 34. Design work for these improvements is already underway, and nearby property owners have been notified as part of the process. Additionally, the City has regularly communicated with the owner of the salvage yard property throughout the project development, and that communication continues as the project moves forward.

These changes are part of a larger effort to improve traffic flow, safety, and regional connectivity in West Greeley.

Q: Will Catalyst provide infrastructure that will benefit Cascadia? If so, will Catalyst be reimbursed?

A: Yes, some shared infrastructure – like roads and transportation – will benefit both the Catalyst and Cascadia projects. This infrastructure is set to be paid for by a General Improvement District (GID), ensuring that those who benefit from and use the infrastructure will cover its cost, rather than shifting that burden to all Greeley residents.

Miscellaneous

Q: What will happen to hockey, restaurants, lodging at the Ranch? Ice Haus?

A: The Ranch is not a City of Greeley property, so we cannot speak to any changes or plans related to that facility. We do know that Larimer County has acquired additional property and has plans for growth at the Ranch. As for the Greeley Ice Haus, it remains an important part of the city’s recreational offerings. The Catalyst project is designed to add regional capacity and complement the Ice Haus – not replace existing venues – while supporting community needs and expanding opportunities for events, recreation, and tourism.

Q: How will the hotel at this property maintain a 70% occupancy rate year-round in order to remain viable?

A: The occupancy rate goal is based on standard industry benchmarks and financial modeling. Demand is expected to come from multiple sources, including events at the arena and convention center, as well as year-round recreational attractions like the indoor water park. While there is always some risk in the market, the project is intentionally designed to draw a diverse mix of visitors and avoid over-reliance on any single source of occupancy. We also anticipate major events--like the Greeley Stampede--to significantly boost hotel occupancy during the year.

Q: Why was this project turned down by other cities?

A: We can’t speak to the decision-making process of other cities. What we do know is that the City of Greeley evaluated this opportunity carefully over the course of more than a year. The site, market conditions, and potential long-term benefits aligned with Greeley’s economic development goals and community values, making this project a strong fit.

Q: Greeley is one of the fastest-cities in the US. Why the rush to make a deal with this particular developer without exploring competitive or public alternatives?

A: We understand it may feel like this project came together quickly, but it is the result of more than a year of research, financial modeling, and due diligence. This project was also not without opportunities for community input with more than 20 community discussions and 5 public meetings to give our residents the opportunity to ask questions and share feedback. The city also had a timely opportunity to secure a major tenant – the Colorado Eagles – which added momentum and made the project more attractive. This decision was grounded in careful evaluation. Additionally, the city is taking a phased approach to implementation allowing us to continually assess the market risks and benefits to ensure the best long-term outcomes for Greeley.

Q: Why is this development being referred to by multiple names - Cascadia, Catalyst, and West Greeley Project — making it difficult for the public to follow or research it carefully?

A: We understand the confusion and are working to clarify project naming going forward. Here’s the breakdown:

Catalyst refers to the city-owned entertainment district anchored by amenities like the arena, hotel and waterpark.

Cascadia is the name of the adjacent private mixed-use development owned by the Water Valley Company.

West Greeley Project is a general term used early in discussions to describe potential opportunities in this area and now refers to the broader 22-mile area of which Catalyst and Cascadia are only a part. (link to map)

We are working to streamline communication under the Catalyst project name to help the public follow updates more clearly until the entertainment district is formally named and branded.

To view all Frequently Asked Questions relating financing, infrastructure, amenities, and more, visit our FAQs page here.