Opinion: Westside entertainment district a transformational investment for Greeley

The Cascadia/Westside Entertainment District represents a once-in-a-generation opportunity for Greeley. This visionary project could truly redefine our city’s future economically, culturally and socially.

City leadership, in collaboration with top-tier third-party consultants, has taken a thoughtful approach to this ambitious project. They’ve conducted in-depth financial modeling, analyzing multiple scenarios to develop a diversified, sustainable financing plan. The result is a bold but realistic strategy that positions Greeley for long-term success.

The financing framework draws on a variety of sources, including certificates of participation and economic development funds, to launch design and construction. A general improvement District, or GID, along the U.S. Highway 34 corridor will be established in partnership with landowners and developers. The GID will use property taxes and fees to fund critical transportation and infrastructure improvements within the district.

The city’s enterprise funds will support construction of essential water, sewer, and non-potable systems — consistent with Greeley’s historical role in enabling major developments. For instance, the trunk sewer line built along Sheep Draw in the 1980s made possible decades of growth from Kelly Farms to Promontory.

One of the more-debated financing components is the use of a 501(c)(3) nonprofit. This model, successfully used across Colorado, allows for the construction of public facilities without raising taxes. Importantly, the city will retain ownership of the land and buildings within the district. 

Revenues generated by the entertainment district will repay bonds issued by the nonprofit. While the early years will see higher debt and lower revenue, economic development funds will bridge the gap. Within five to eight years, revenue is projected to exceed debt obligations — eventually creating surplus revenue for the city. Bond refinancing is also likely, which would reduce long-term costs.

What does this project mean for Greeley? Economically, it means everything.

For the first time in decades, Greeley is systematically positioning itself to recapture sales tax revenue that has long leaked to neighboring cities. This project will also establish Greeley as a tourism hub for Northern Colorado. Developments like Cascadia, Delanterro, and other mixed-use communities will thrive in proximity, generating new revenue streams and much-needed housing.

As owner of the Westside Entertainment District, Greeley will offer residents direct access to a world-class aquatic center, a multi-use events center, and three additional sheets of ice. We are inspired about the city exploring partnerships with local school districts, the University of Northern Colorado, and Aims Community College, supporting both access to students and athletic opportunities.

We look forward with excitement to see the city foster connections between the Westside Entertainment District and existing local businesses, restaurants, breweries, hotels and cafes through collaborative marketing and advertising. Tourism will grow beyond current levels.

Currently the leading tourist attractions the Greeley Stampede and Model Train Museum bring in over 250,000 visitors annually. This project will bring more business and visitors to downtown Greeley.

With events such as USA Hockey tournaments, concerts, conventions, and a destination hotel waterpark, Greeley could even double or triple its visitor numbers. Greeley has just rolled out  a new tourism website at visitgreeley.com.

The Westside Entertainment District is an investment in Greeley’s identity, vitality, and future. Now is the time to think big, act boldly, and build a Greeley that future generations will be proud to call home.

Tom Donkle is manager with Ethos Land & Water Inc.

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