In partnership with Kroenke Sports Enterprises (KSE), Commerce City is proud and pleased to announce the new home of The Colorado Rapids professional soccer team will be Commerce City. Over the last several months, city staff has been working with KSE to finalize the details of this project. In doing so, a new, state of the art soccer stadium will be constructed as the venue for the team, as well as hosting many other events. The city is equally pleased to announce the location of the stadium on the recently acquired Prairie Gateway.

Kroenke Sports Enterprises is the owner of the Colorado Avalanche, Denver Nuggets, Colorado Crush and The Colorado Mammoth. Expanding investment in their sports' interests, KSE has envisioned a distinct home and facility for its professional soccer franchise. Through a competitive process, Commerce City forged a partnership with KSE that that is more far reaching than the new stadium alone. The entirety of the partnership represents a major commitment to Commerce City by KSE. Responding to the news, Mayor Ford Stated, "This announcement represents the convergence of two extremely positive events within our community: the acquisition of the Prairie Gateway itself, and the creation of this partnership with KSE. This project will serve to enrich our community and provide benefits for all of our residents."

From the initiation of the Prairie Gateway Project, over ten years ago, the vision for its development has been grand. It has been defined by what would be considered extraordinary and distinctive, a vision that is equal with the uniqueness of the refuge itself. The partnership between the city and KSE will produce community-enhancing results that will exceed the initial vision of the Prairie Gateway. The development plans of the project contain many elements that are distinct, yet interdependent for its ultimate success.

Why was Commerce City Selected by KSE

There were many elements that factored into the decision to choose Commerce City for this project. However, the single most influential reason was the city's excitement and collaborative attitude about the project. The city and KSE were able to share their respective visions and blend the two into a single, mutually beneficial plan. Also of great importance to KSE was the focus of Commerce City to bring a project of value to the community and its residents, which is a commitment shared by KSE. The current and future growth in Commerce City and neighboring communities also played a major role in the decision making process.

Community Programs

While discussing the community impact of the project, Mayor Pro-tem, Debbie Mitchell, noted that, "Through this project, KSE is making an investment in the heart of Commerce City on a scale greater than any previous endeavor. This is true both in dollars and presence within the community." While the benefits generated from the stadium operation will be vast, they represent only a portion of the vision of the project. Adjacent to the stadium, ten-twenty soccer fields will be developed, providing facilities for a variety of programs. Two of the fields will be of MLS caliber. Chiefly, a focus on youth soccer and sports leagues, athletic development programs and clinics will be conducted at the facilities.

The soccer campus will provide a venue of the highest quality to be enjoyed by Commerce City's youth. To reach the fullest benefit for Commerce City residents with the new facilities, The Parks and Recreation Department will work directly with KSE to expand and enhance local sports' programs, which are seeing strong increases in community participation. The soccer campus will also be utilized by leagues and clubs throughout the state and nation, and will serve as a beacon attracting athletes and fans seeking the finest facilities for their sport.

Colorado Rapids Stadium

The Colorado Rapids Stadium will not only host professional soccer matches, it will also be utilized for a variety of other events that will maximize its value. It will seat 20,000 people, yet accommodate up to 25,000 for certain events. Professional lacrosse and concerts are among the additional uses of the facility. Kroenke Sports Enterprises is fully committed to the growth of professional soccer in the United States. A soccer specific stadium, in tandem with youth programs, are strategies to elevate the sport's popularity.

Commercial and Retail Development

As mentioned, the features of this project will exceed the development of a new soccer stadium. Kroenke Sports Enterprises will be the master developer of over 600,000 square feet of commercial and retail space. This feature of the project will add incredible value, not only to the project itself, but also to the entire community. This aspect of the project will provide much needed retail and entertainment venues to the community, as well as stimulating similar projects throughout the Historic City.

The vitality of the retail and entertainment developments will serve to bring people to The Prairie Gateway, creating an environment of vitality for the community. The makeup of this feature will comprise of destination retail that offers unique shopping and entertainment experiences that are designed to complement the sports' venues and The Rocky Mountain Wildlife Refuge property and facilities.

Financing Project with No Increase or New Taxes

The scope of this project is at a level that has never been seen in the city's history. This is true when considering the programs and amenities on the site, as well as the cost. Just as far reaching as the project is, so too are the benefits to be gained by Commerce City. Never in the city's history will any other single project produce such positive and community-wide enhancements as this partnership, which has always been the vision for The Prairie Gateway Project.

The total project cost is $130 million, with investment shared equally between the city and KSE. While the project requires significant investment, a very sound and responsible financial plan has been formulated. Due to the magnitude of this project, the city and KSE feel that it is important to have community involvement and input in the form of a vote of Commerce City residents. Through voter approval, the city will issue $64 million in bonds. Approving the measure will not increase or create any new taxes. Residents will be asked to vote on the item this November.

The primary use of the funds will be to expand Quebec Street. This is a major community enhancement and will alleviate safety and congestion problems long associated with the corridor. The additional funds will be used to widen Commerce City's portion of 56th Avenue, as well as public infrastructure improvements on the Prairie Gateway itself. Of the $64 million, the city will repay $52 million from existing city revenues, with the remaining $12 million being paid through revenue generated from The Colorado Rapids Stadium.

An additional $43 million in Urban Renewal Development Bonds will be issued. These bonds will be repaid through revenue generated from the commercial, retail and entertainment uses. Repayment of the bonds will be guaranteed by KSE through the issuance of a letter of credit.

In addition, KSE will make a capital contribution of $20 million for the construction of the soccer stadium. The city is currently working with the City and County of Denver to raise $4.5 million to pay for Denver's half of the 56th Avenue improvements.

The cost of constructing the stadium is reflected in the above figures. The city will own the stadium and pay for the bonds on the facility through a 25-year lease with KSE. The lease agreement also provides that KSE will pay for all stadium related operating costs.

Other sources of revenue that can be applied to the city's portion of the project are from foundation grants. The city has already secured $1.2 million for the acquisition of The Prairie Gateway from Great Outdoors Colorado and Adams County Open Space. Many additional opportunities from granting foundations are beginning to present themselves, as well. With the level of capital investment and commitment to community programs, the city should be able to access additional funding from these sources.

Other Development Features

As mentioned above, this project contains many elements that are distinct from one another, yet interrelated to the success of the project as a whole. A key feature of the project, and one that is very much in need, is the construction of a new city hall for The City of Commerce City. As our community continues to expand, the demands placed on city services and programs increases substantially. In the very near future, the existing city hall will no longer be adequate to meet the needs of residents. The location of city hall on The Prairie Gateway, adjacent to KSE's facilities will offer complementary uses.

An additional and notably significant partnership involves the city and the U.S. Fish and Wildlife Service. This agency is responsible for managing and maintaining the entire refuge property. The U.S. Fish and Wildlife Service also provides a wide selection of programs and services for outdoor enthusiasts. To accommodate the demand of these services a visitors center, environmental education campus and conferencing center will be located on The Prairie Gateway.

In addition to attracting people to The Prairie Gateway, the programs and facilities of the U.S. Fish and Wildlife can be utilized by local school districts for unique educational opportunities for students. Partnering with local school districts is a natural extension of the overall focus on youth related programs associated with the project.

City officials are fully embracing the partnership with KSE, recognizing that the benefits of this project will have far reaching economic benefits for the entirety of Commerce City. Acknowledging the level of investment in the community and Commerce City's future by KSE and the city, Mayor Ford noted that, "This day is an announcement that Commerce City is here and it is now. It is time to embrace the here and now and to be a part of and contribute to the future of our community."