Key Dates
Council Approves Civic Campus Plan of Finance
City Council received an update on the Downtown Civic Campus project, including a recommended plan of finance. Deputy City Manager Kelli Johnson described the project as a once-in-a-generation opportunity to shape downtown Greeley.
Staff reviewed the project timeline, including the execution of a memorandum of understanding in October 2024, master planning in March 2025, and Council approval of a $10.7 million predevelopment budget in August 2025. Conceptual renderings highlighted a walkable campus connected to Lincoln Park.
Chief Financial Officer Allena Portis outlined several financing options and shared staff’s recommendation to proceed with Certificates of Participation (COPs) with capitalized interest. This approach would allow no payments during the first two years of construction and interest-only payments in years three through five. The total estimated project cost is approximately $130 million, with repayment supported by the general fund and food tax revenues. COPs are expected to be issued in fall 2026.
Council also reviewed projected economic impacts, including $423 million in total new investment, approximately 3,480 construction jobs over five years, and $12.8 million in retail demand during construction. Once operational, the campus is expected to support 1,500 jobs and generate $12.3 million in annual retail demand.
Council reached consensus to move forward with the recommended COP financing structure.
Predevelopment Progress, Funding, and Next Steps
City staff and project partners have advanced predevelopment work that establishes the foundation for this transformative effort. This presentation provides an update on the project's status since the execution of the PDA, highlighting the current state of pre-development work, the most immediate next steps, and an overview of the financing strategy under consideration. (https://greeleyco.portal.civicclerk.com/event/2880/files/attachment/5272)
Council Approves Pre-development
Greeley City Council approves the Pre-development Services Agreement with Richmark Vertikal (RV).
Concept Plan and Funding Options
City staff present funding options for proposed City Hall (https://greeleyco.portal.civicclerk.com/event/2876/files/attachment/4221)
Masterplan Presentation
Richmark Vertikal (RV) presents concept masterplan to City Council (https://greeleyco.portal.civicclerk.com/event/2874/files/attachment/3658)
Preliminary Design Work
The City and Richmark Vertikal (RV) engage in ongoing discussions about preliminary design work, potential city role, and possible costs.
Memorandum of Understanding
Richmark Vertikal (RV) enters into a Memorandum of Understanding, setting forth their intent to evaluate development potential and the public benefits of development of a public-private, mixed-use Civic Campus Project (“the Project.”).
RV facilitates a meeting between the City, the County, and SD6 where all parties expressed interest in exploring options for pursuing investment in downtown.