FAQs
- Shared site development reduces infrastructure costs.
- Proximity makes services more accessible for residents.
- Together, the projects amplify downtown investment and revitalization.
The Civic Campus is still in pre-development. No permanent financing has been issued yet. The City has committed $10.7 million to pre-development work (land acquisition, demolition, site remediation, and design), which is already appropriated in the current budget.
Consolidating City services eliminates ongoing lease costs, and downtown investment generates new retail and commercial tax revenue. Delaying or canceling the project does not eliminate the City's facility needs. It defers them, often at greater long-term cost.
How will the Civic Campus be funded?
Each public partner will fund their own facilities with their taxpayer dollars. These are separate investments — city dollars for city facilities, county dollars for county facilities, and school district dollars for district facilities, with opportunities for some shared investments in public spaces such as parking and open plaza.
Where possible, the partners are aiming to coordinate efforts. It’s this commitment to collaboration that brings the most value by coordinating timelines and building side by side on the same land:
What does this cost the city?
The Pre-Development Agreement identifies and commits the City to $10.7 million through a pre-development budget. These dollars are already appropriated in the current budget.
What does the $10.7 million pay for?
Primarily, the $10.7 million will be used for land acquisition, building demolition, and site remediation. A portion will also cover soft costs such as consulting services for design and engineering.
If $10.7 million is only for pre-development, what is the total cost of the project?
The amount and structure for permanent financing will be determined through the pre-development process. Current modeling is based on constructing a new 95,000-square-foot City Hall, which is estimated at approximately $90 million (including land acquisition, construction costs, design and engineering, and financing).
The City anticipates financing this project through the issuance of Certificates of Participation (COPs)—a common financing tool for public facilities. Under this structure, the City’s possession of the property could take the form of a purchase, a lease, or a lease with an option to purchase. Any changes in building size or design would impact the overall cost.
What’s the financial benefit to the City?
A consolidated Civic Campus allows the City to reduce long-term operating and maintenance costs by eliminating the need to lease multiple buildings. Centralizing services in one location improves efficiency, enhances customer service, and creates opportunities for new retail and commercial activity downtown—expanding the City’s tax base.
Why Richmark Vertikal (RV)?
Richmark Companies have been long-standing developers in Downtown Greeley. They’ve invested millions in this community and this project is an extension of their ongoing commitment to Greeley. They own a few key properties in the project area that are essential for coordinated development. More importantly, they have a strong history of successful downtown projects, including ownership of the Doubletree Hotel, and established partnerships with the City, Weld County, and School District 6.
Vertikal Collaborative, based in Louisville, Colorado, is an experienced boutique hotel and residential developer, known for projects such as the Origin Hotels in Golden and Westminster. Together, they formed Richmark Vertikal, the joint venture selected as the City’s development manager for the Civic Campus Project.
What are Certificates of Participation (COPs) and how do they work?
Certificates of Participation (COPs) are a financing tool commonly used by local governments across Colorado and the country to pay for public facilities like city halls, fire stations and recreation centers. They work similarly to a mortgage.
Here is how it works: a financial institution funds construction of a building. The city then makes regular lease payments over time using existing revenue, not new taxes. At the end of the term, the city owns the building outright.
COPs do not require voter approval under Colorado law, and they do not create general obligation debt backed by property taxes. They are a standard, well-understood tool that Greeley has used before for projects like fire stations and City Center South.
Does the Civic Campus financing put existing City buildings or assets at risk?
No. The Certificates of Participation (COPs) used to finance the Civic Campus would be secured solely against the future City Hall building itself. No existing City-owned properties, facilities, or assets are pledged as collateral.
It’s also worth noting that financing structures can vary by project. While some past City financings have included existing assets as part of a broader security pool, that approach is not being used for the Civic Campus.
The Civic Campus financing is tied specifically to the new building. Payments are made over time using that facility as the asset behind the agreement. If there were ever an issue with payments, only the new building would be affected, not other City properties.
Does this project require a public vote?
No. Certificates of Participation do not require voter approval under Colorado law. This is one of the reasons they are commonly used by municipalities. They allow cities to fund necessary facilities without adding to general obligation debt, which does require voter approval.
The City Council reached consensus in December 2025 to move forward with COPs as the recommended financing structure. Watch the Council meeting here: https://greeleyco.portal.civicclerk.com/event/2871/media
Given the City’s current budget pressures, is this the right time to move forward with the project?
[UPDATE: APRIL 2026] City Council and staff are closely monitoring the City's overall financial picture, including existing debt obligations and near-term budget pressures. A few things are worth keeping in mind:
The City will continue to evaluate the timing and structure of permanent financing carefully, and will share updates through this page and through Council meetings as decisions are made.