Petition Filed to Repeal West Greeley COP Funding Ordinance

A group of Greeley residents has filed a petition asking voters to repeal Ordinance No. 15, 2025. This ordinance approved early financing to begin planning, design, and site preparation for the West Greeley Entertainment District—a major transit-oriented development spanning roughly 300 acres between Highway 34 and Highway 257. The project includes:

• A new 8,600-seat arena and ice center for youth hockey and to serve as the future home of the Colorado Eagles
• A water park hotel and conference center
• A public plaza featuring retail, dining, and commercial space
• Recreational amenities and connections to walking trails
• Plans to build approximately 6,000 housing units
• Supporting infrastructure, including new roads, utilities, and a regional transit hub

The petition is trying to stop the City from using a financing tool called Certificates of Participation (COPs) to cover about $115 million in early project costs. These costs include planning, design, legal work, and site preparation for construction, and will be repaid in approximately one year by the 501(c)(3) organization that will issue bonds for the project.

But it’s important to know:

• This petition was filed as an initiative, not a referendum. 
• That means it does not pause or cancel the ordinance.
• Even if the petition gets on the ballot and passes, it won’t undo any agreements the City has already made including the lease of City facilities.

Both are tools citizen can use, but there are important differences. Here’s how they work:

No, the City is not selling anything. COPs are a tool cities use to borrow money without raising taxes.

Here’s how they work:

• The City temporarily “leases” public buildings (like City Hall) to a financial institution to secure a loan. 
• The City keeps using the buildings as normal. 
• Over time, the City makes lease payments using projected revenues––not new taxes. 
• The City expects to be paid back in full by the 501(c)(3) before any lease payments are due. 
• Once the loan is paid off, the lease ends and the City keeps full ownership of the public buildings. 

This tool has been used for many other projects in Greeley, including our local fire stations.

A moral obligation means the City agrees to consider adding money to a project reserve fund if needed. It’s not a legal debt and does not automatically require taxpayer funding.

• The City expects to be paid back in full by the 501(c)(3) before any reserve, lease, or economic development payments are due.  
• Over time, those payments will be reimbursed using project revenues.   
• This structure helps lower borrowing costs by showing the City plans to act responsibly.  
• If the project performs as expected, Greeley won’t need to add any money to the reserve. 
• The City decides each year whether or not to contribute.

Yes, however, there are four school districts that currently provide services to students in the City of Greeley (Greeley School District 6, Windsor School District RE-4, Johnstown-Milliken School District RE-5J, and the Eaton School District RE-2). The area that will be developed in this project is located in the Windsor school district. The majority of new revenue goes directly to Greeley through:

• Local sales tax 
• Hotel lodging tax 
• Ticket surcharges 
• Public Improvement Fees (PIFs) from retail and restaurants

These revenues fund Greeley’s roads, parks, police, and more—benefiting the entire city.

School district boundaries are set by the State of Colorado—not by the City. Changing them is a long and complex legal process. Instead, the City focused on whether the project would: 

• Bring in new jobs and visitors 
• Support housing and transit 
• Improve public infrastructure 
• Boost the local economy 

Yes. Over the past year, the City has:

• Held 25+ meetings with residents, businesses, and community groups
• Hosted 5 open houses for public feedback 
• Shared updates at City Council meetings
• Participated in events like the Greeley Stampede
• Created a project website with contact info, FAQs, and more

More community events and neighborhood meetings are planned for 2025 and 2026.

You can view the full financing FAQ online at: https://speakupgreeley.com/catalyst/widgets/102274/faqs