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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:
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.
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:
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.
That revenue helps fund city services like public safety, infrastructure parks, and community programs, all of which directly improve quality of life.
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:
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.
hockey arena
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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.
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?
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
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:
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.
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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.
Town Hall Recording Correction: During the discussion, the year 2028 was mentioned in error in reference to revenue generation. The correct year is 2038.
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?
- How and why the City Council made this decision - 18%
- The project’s potential (jobs, revenue, amenities) - 17%
- How the project is being paid for - 40%
- What infrastructure improvements are planned - 14%
- What the petition would or would not change - 11%
What excites you most about the Catalyst project?
- A hockey hub for Northern Colorado – supporting youth hockey and a new home for the Eagles - 13%
- Fun, year-round spaces for families and friends to enjoy together - 31%
- A lively destination that brings people together and celebrates - 21%
- More opportunities for new jobs and local businesses - 23%
- A transportation hub that connects Greeley to the surrounding community - 13%
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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.
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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.
Apromise 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.
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.
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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:
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.
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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
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Initiative
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- Must be filed within 30 days of a Council vote on an ordinance
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- 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.
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- Once filed, a referendum will stay enforcement of a newly passed ordinance before it takes effect, pending a public vote
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- An initiated ordinance petition does stay any existing ordinance
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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.
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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 FAQs.
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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
West Greeley Project Financials (1.58 MB) (pdf)
Discover how cities fund large projects without raising taxes using Certificates of Participation (COPs). Learn how COPs enable upfront capital by leasing—not selling—public buildings, while ensuring facilities stay open and local control is preserved. See real examples from Greeley, like fire stations and City Center South, where public ownership and oversight remain protected. Understand the balance between financing needs and taxpayer interests, and where to find more details.
Discover how the West Greeley Entertainment District and Cascadia project are set to generate over $13.5 million yearly in net revenue by 2065. Find out why this is more than simple growth—it's a strategic long-term investment aimed at enhancing public services, infrastructure, and open space. See how the plan supports Greeley’s community and pays for itself, bringing lasting improvement for generations. Learn what these changes mean for every resident.
Learn how General Improvement Districts (GIDs) work as a focused financing tool to support city infrastructure, such as roads, parks, and stormwater systems, within specific areas. Discover why only properties inside district boundaries contribute, and how GIDs make sure new developments pay their fair share—benefiting the local community directly. See how Greeley applies this approach to promote sustainable growth and fairness from day one.
Funding and Costs FAQs
