How COP Funds are Used in the Pre-Development Phase of West Greeley

The city is sharing a clear breakdown of how Certificates of Participation (COP) funds are anticipated to be used during the pre-development phase. In short, the largest share is expected to support design/engineering and site readiness work, including critical infrastructure like the Boyd waterline relocation and grading.

Total anticipated COP-funded spending shown in the chart: $100.6 million. Where the funding is anticipated to go:

Pie Chart of West Greeley COP Funds Used

• Design & Engineering at $46.7M: This includes architectural/engineering design for major components (arena, hotel, waterpark, civil and site work), plus project management and preconstruction oversight.
• Site Work at $24.1M: Planned for site readiness items such as Boyd waterline relocation, overlot grading, erosion control, site access, and related field oversight.
• Cost of issuance/interest carry at $10.9M: Financing-related costs, including issuance fees and capitalized interest.
• Other project engineers/consultants at $5.7M: Project-specific support for engineering/management tied to design, entitlements, and preconstruction services.
• City land costs at $5.2M: Costs associated with City land acquisition.
• Additional City and project support costs combined at $7.8M: Includes City owner’s representatives ($3.5M), developer fee ($2.9M), City legal costs ($0.9M), and other City project costs ($0.5M).

Why this Matters
This breakdown highlights the essential preliminary work required to prepare for the next steps of the project. It outlines the practical tasks needed early on, as agreed under contract, including planning, design, engineering, and site and infrastructure preparation. These crucial infrastructure and planning phases are vital for the west side of Greeley as the city continues to grow and focuses on intentional development for the future. This groundwork allows the city to make informed decisions and be ready for the upcoming steps.