A bill for an ordinance submitting to a vote of the qualified and registered electors of the City and County of Denver at a special municipal election to be held on Tuesday, November 3, 2015, the question of whether the City shall be authorized to issue bonds or other financial obligations for the purpose of financing the following tourism related projects: the National Western Center and improvements to the Colorado Convention Center; and in connection therewith to eliminate the expiration date of the lodger’s tax and the auto rental tax at a rate equal to 1.75%; providing the form of the ballot question; providing for other details in connection therewith; and ratifying action previously taken. (FINANCE & SERVICES) Refers a question to the November 2015 ballot to seek authorization for the City to issue bonds or other financial obligations to finance tourism related projects for the National Western Center Campus and improvements to the Colorado Convention Center and to eliminatie the expiration date for portions of the lodger’s tax and the auto rental tax. This bill must pas
At 1212 eyes one abstention four two is ordered published. All right, one down, six more to go. If I were to go next. One 379. Councilwoman Monteiro, what would you like for us to do with this? I just wanted to call 379 out. Which. Talks about National Westerns Center in the Colorado Convention Center. I just had some questions. Go right ahead. Certainly, I would like someone from both the Colorado Convention Center and also from National Western and possibly the city to be able to come up and explain to the voters exactly what this council bill does. All right, Kelly, you coming on the. Mm hmm. Just do it. Mm hmm. They went to grab Kerry Kennedy, so. Good evening. Mr. President. Members of council. I'm Carrie Kennedy on the City CFO. I apologize. I was just out in the hallway congratulating folks on your last vote, but happy to take questions on the referral of the ordinance for the National Western Center. Come from Ontario. Go ahead. Repeat your question. Thank you. So what do we have before us this evening? What does this proposal do? This is a good time to explain to people watching television. And then the next one, the next question that I would like to ask too is from National Western Stock Show, how much you generate every month and I mean every year in terms of national Western and the revenue. Also, the same question to visit. Well, whoever is doing the Colorado Convention Center and then I would like the question answered, how did you reach this conclusion and why was this method why are we looking at this method in front of us today in regard to financing for the future? Okay. Thank you, Councilman, and thank you to all of you who've helped bring this proposal as far along as it is today. Really appreciate all your great efforts. This is a proposal to submit a proposal to Denver voters in November to finance the redevelopment of the National Western Center and also to finance improvements at the Colorado Convention Center. It is an authorization by Denver voters to allow the city to issue 778 up to $778 million in debt. To finance these two proposals and the source of funds to service that debt. Are. Denver's tourism taxes. So the reason the city has the opportunity to make these new investments in tourism related assets is because the Colorado Convention Center is now 25 years old and is being paid off. I think you all just did a recognition tonight that the convention center is 25 years old. This gives the city of Denver an opportunity to move forward with some new tourism related assets. I'll let Kelly lead talk about the evolution of the proposal, the net to redevelop the National Western Center, because it really is a much larger proposal than just the National Western Stock Show. It's a redevelopment of the entire campus that includes new connections between Elyria, Globeville and Swansea and neighborhoods to support the redevelopment of North Denver. It includes opening up the river over a mile of the South Platte. So there are park amenities and bike amenities and access to the river, a lot like the wonderful amenities that we see today at Confluence Park. This development will create the opportunity for Colorado State University to come on to the National Western Center campus to provide agribusiness and agro science research, veterinary medicine, and also involves the redevelopment of the buildings that are up there that currently housed the National Western Stock Show for a 365 day a year active campus . That brings new events, new opportunities for tourism, and also allows our National Western Stock Show to remain in Denver, to remain competitive, to remain the Super Bowl of stock shows, as it has been here in our city for the last hundred years, for the next hundred years. So significant improvements, the total redevelopment costs over the next ten years for the National Western Center are projected to be $856 million, of which the city of Denver will contribute 673 million. Again, the primary source of that are our tourism taxes, taxes that people pay when they stay in hotels and when they rent cars here in our city. Those are the taxes that are currently in place today supporting the Colorado Convention Center. So there is no tax increase. There are no new taxes. But we do need to ask the voters to leave a portion of those taxes in place because a portion of them would expire when the convention center pays off. So it's in essence leaving in place the taxes that are there today in order to finance this development project. We also include in this package just over $100 million for improvements to the Colorado Convention Center. And I'll let Richard Schaaf talk about that proposal. You heard a lot tonight about the convention center. But in order for Colorado's convention center to remain competitive and to continue to attract the conferences and compete nationally with other convention centers, there are some enhancements, some improvements technology, some flexible space amenities that need to be added in our convention center. And so this goes to the voters as a package to authorize the debt and leave the taxes that are in place today to support that debt in order to pay for the redevelopment of the National. Boston Center complex and everything I talked about included in that proposal and the Colorado Convention Center improvements. Happy to take questions. Councilman Terry was. Or someone else you want? Yeah. I'm waiting for whoever wants to go next. Richard Scharf. Yes. Thank you. Richard Scharf, president and CEO of Visit Denver. Yes. As Karie mentioned, what we did at the same time, the mayor felt that we should look at all of our facilities that are generating probably nearly three quarters of $1,000,000,000 a year in economic impact. Take a look at all of those at same time and see what our needs are. The Strategic Advisory Group SAG did this study in 2013 into 2014, made some recommendations at the National Western Stock Show complex, and also gave did an analysis of our convention center facilities. I will tell you this. We have a beautiful facility. It was designed by meeting planners, but what they found out is that we need to remain competitive. And if you think about it, we had Kurgan Hall in 1969 and in 1990, just 21 years later, we built the Colorado Convention Center. 15 years later, we expanded it. And right now, another, you know, 10 to 15 years, we're looking at just making some enhancements with some additional meeting space, flexible meeting space. If we do this, the study suggested that we could generate another hundred million dollars economic impact a year and also protect ourselves from losing business, because, as you all know, it's very competitive. In fact, there's 18 other expansions and enhancements out of the top 25 cities in the country right now. So we are just really doing our best to continue to generate the kind of economic impact that we know we can can generate for the future. So again, the recommendations, a lot around enhancements, some additional meeting space, flexible meeting space technology would really put us in shape for the next 25 years. Okay. Any questions? Thank you. I'm going to go ahead and ask a representative from National Western to please come up. Yes. Hello, Mr. President. Members of council. I'm Paul Andrews, the president and CEO of your. National Western Stock. Show here in Denver. What you have before you is a necessity to save the National Western Stock Show. We are at a point in history where for 109 years, we've proudly. Been at the confluence of I-70 and Brighton Boulevard. We've worked diligently with the mayor and his staff to put together a master plan that is efficient and will allow the National Western Stock Show to thrive and grow. But it's much more than that. What you have in front of you. Is the National Western Center is a global opportunity to bring in the world's leaders in agriculture year round to Denver, Colorado, increase the economic impact from around 100 million a year to $200 million per year, and put us on the stage internationally as the leader in agricultural education. Become some sort of a genesis for how to feed the world. The the world. As we enter 9 billion inhabitants. Where is that research going to be done? It's going to be done in Denver, Colorado, at the National Western Center. So for the National Western Stock Show. It's a necessity. But for the city of Denver, this is an opportunity that only. Comes once in a lifetime. And it's before us here today. Thank you. Thank you. Kelly, if you can. Speak to how all of this proposal was organized and how how we reached the conclusion that we're here tonight in terms of having it go to the voters. It was was not an overnight kind of decision. And I think it's just important for my client to hear that. Sure. Thank you. Councilwoman Monteiro, members of council. You know, this has been really, you know, two years in the making. You know, when the mayor announced the creation of the North Denver Cornerstone Collaborative, which is really about three historic neighborhoods, Globeville area, Swansea, that are very disconnected from the rest of the city, have seen no infrastructure investment for over three decades. And the National Western Center project is one of those six projects. And from the get go, this has been about strategically aligning the planning and the implementation of these projects. So we've been very deliberate over the course of the last couple of years as part of the planning that the neighborhood plans went first , Globeville was approved first than Elyria. Swansea followed, and then the National Western Center was approved by council unanimously in March of this year. And those that plan was informed by the neighborhood plans, because a big part of this is is not only making sure the stock show is here for another hundred years, and it lays out a much bolder vision about what this place could be. One of the things that came out of this effort, I'm convinced, is the work we've all done together led to a partnership with the state of Colorado through House Bill 1344. That was bipartisan support went through the legislature this year. The state now is a partner in this venture to the tune of $250 million to accelerate the development of Colorado State University on this campus, just like the State participated in accelerate the development of the new medical center at the Anschutz Medical Campus. We have an opportunity here to combine all these different funds and create a world class facility that will, again, as Paul mentioned, solve some of the world's biggest food issues. Senator Jerry Sonnenberg described it as positioning Colorado as the Silicon Valley of AG. And and so the the question before the voters of Denver will be, who do you want to support an extension of this visitor's tax to make continued investments in our tourism infrastructure at the Convention Center in the National Western. And then also a part of that is now the state as a partner in this venture. And we've also got an application into the state for what's called a Regional Tourism Act application to the tune of about 117 million. All these pieces come together, along with a substantial investment by the National Western to the tune of 50 million in cash that they will have to raise on an investment from CSU. So all these pieces are coming together over the course of the conversation we've had together the last couple of years. And I think what's most important is we always have started and finish our conversations about how does this impact reconnecting these neighborhoods. And so for a big part of this first investment in redeveloping the site is connecting the neighborhoods, Globeville or Swansea, back to the city. So we've got a lot obviously a lot of work ahead of us still to move the plan forward over the eight phases over the next ten years. But this is the next really big step to go to the voters of Denver and ask for their support towards this effort. Thank you. Thank you. Thank you, Councilwoman Monteiro. Councilwoman Ortega. Thank you. Kelly, would you mind coming back up, please? Can you tell us what the timeline obligations are if the RTA funding is approved by when we have to generate a certain percentage of dollars? I heard 200 million. I'm assuming that is where we're looking at more of the build out of some of these new buildings on the campus. So can you speak to that? Sure. You really I mean, so phasing the timing of how the project kind of rolls out is a really, really important conversation. In the in the master plan and in the application, we talk about the eight phases over approximately a decade. And one of the key drivers in that is that the stock show can't just close down for the next decade while we rebuild it or there's no place to relocate them while we rebuild the site. So the phasing was intentional about making sure the stock show could stay in place. So that was one consideration. The second consideration ties back to the RTA is that once you're awarded an award from the state, a clock starts to tick in terms of getting the project started within five years and then ultimately finishing within ten. So there. And that's really focused on getting the facilities in place that are going to drive the new tourism increment to the site. So obviously we have a ton of work to do on the infrastructure side. So some of the first work that will come out in front of us is the infrastructure, the two bridges connecting the site to Washington Street, which do not exist today. Moving rail off the river that will allow us to free up and a mile of the South Platte River and reclaim and create 12 acres of new open space along the river. A new consolidating the rail, create a new national western drive to connect the site. So there's a lot of work we have to do in the early years to set the site up for success. And then the vertical development we'll we'll follow specific to your question about the 200. So I think you're referring to the the dollars that we still have to fill to meet our obligations. Is that what you're referring to? Richard Sharp had mentioned, I think it's who referred to the 200 million that we would see. Oh, you're referring to Paul. So right now. So that's an economic development question. Right. So right now it's about 100 million or so in economic impact that the stock show has on our economy. The build out of this plan essentially doubles that economic impact to the site because you're now able to have more events on the site . I mean, right now the site is very inflexible. It's really very limited in what you can do this the new facilities really allow for true flexibility, year round use of the facilities for the stock show. It allows them to grow the number of breeds during the 16 day show. It allows for a significant growth in the equestrian or horse business on site and really positions this facility as a perennial player in the large horse shows. That's going to drive nearly a million additional visitors to the site just on the tourism side around it, kind of equestrian related events. And then there's a whole nother conversation we'll have about the agribusiness and agro science jobs that will start to emerge in and around this campus to make it the the kind of perennial place to study ag related issues. So the, you know, this is with the commitment of finishing this project really sets the stage for a long term sustainable model for both the stock show and the site to generate substantial economic impact, both to the city of Denver and to the entire front range. So, Kelly, what I was trying to understand was if the 200 million that we anticipate seeing annually is at full buildout with all the new buildings on the site, or is it just with what the 800 million will buy with the approval of the. Really good question. So I think, you know, obviously, to maximize the the the economic impact you got, it got to see the whole build out. But I will tell you, in the RTA, our first two, which are really addressed, the first couple of phases and builds the livestock center, the new livestock center and the equestrian center, those are considered really the key drivers of the new tourism increment. So those are early deliverables. As part of our initial build out, we've got to meet those requirements under the state. So you're going to start to see improvements in the economic impact of this campus of the center as a result of those two buildings while we continue towards the full buildout. Okay. And then I just wanted to ask Kent Rice if you could talk a little bit about the anticipated future of the Coliseum, knowing that at the end of the day, when the new facility is built on the north side of 87. Indeed that the Coliseum will no longer be utilized for the stock show and the rodeo. So what is the vision in the future for the Coliseum and the 30 acres of land that we. Can't rise here? Executive Director, arts and venues for the city. And we manage the Denver Coliseum. So I'm going to answer your question by first answering one you didn't ask, which is always risky. But the good news is the Coliseum has a near term future that I think is quite bright, which is probably for seven, eight, nine years we'll be operating it as the Coliseum. So in the neighborhood it will still be there. We hope to have more events because we're going to continue to do some capital improvement. As for what happens when there is a new arena built and that's one of the big exciting opportunities in the whole plan for the National Western Center is to have a. Fully functioning 21st century. Arena, which the Coliseum, regrettably, is not. It's a beautiful building, but it's it's from the last century. What will happen with that 30 acre site is to be determined. Councilman Ortega we don't know the answer to that yet. So it could be adaptive reuse for a variety of things. But our main near-term planning is around how to keep it functioning for the next 7 to 8 years. And if we do have I don't know if the request is the right word, but there has been anticipation that the building remains because of historic value. Can you speak to that? Only that I've heard the same requests, that people have a lot of affection for the building, as do I. But we haven't really address what will be done with the site. All right. Thank you. You're welcome. I have no further questions. Thank you, Councilwoman. Councilwoman Monteiro. Thank you. I have one last question for David Broadwell. Can you just talk about should this past this evening what the election cycle would be when that happens, where voters could potentially see this on the ballot? Yes. Just like the last question. You were debating the last ordinance before. This is simply a way to get it on the ballot for the November 3rd election because it involves bond. The debt inevitably requires the approval of the voters, both the element of the measure that that incurs the debt as well as extending the expiring taxes . Those are both things that are triggered under TABOR in terms of needing voter approval and that will and that will occur on November 3rd. In terms of the voters giving a thumbs up or thumbs down that we actually. Every year there's some time over the summer when we meet our statutory deadlines for getting things on the ballot. We're moving these two things forward tonight, but there's plenty of time in terms of between now and September to to get the measures on. One more question. So, Mr. Broadwell, essentially what's before us tonight is to either approve or disapprove this going forward so they can it appear on the ballot? That's right. Okay. Thank you. Thank thank you. Come from Ontario. So that was not called out. Any other questions or comments on 379? All right, Madam Secretary, you ante up the next one, which I believe was 381 column by three council members. And I'm pretty sure these are four beyond comment. So we are. Yes, I believe this is going to be a vote count from Ontario. I believe you have this called out for an amendment, correct? Yes. Okay. So that will need to go first. Councilwoman Ortega, I believe, wanted to call it out as well for a courtesy, is that correct? Yes. Okay. And then, Councilwoman Fox, you were just for you. I'm sorry. We spent a lot of time talking about the stock show measure that would be sent to the people. Did I miss the vote? It was not called out for a vote. Right. Oh, okay. Thank you. Thank you. So you want me to place this on the ballot? Three one. Come to my apartment, make sure. Did you want 379 called out because you did not only count. Oh, I didn't know. I didn't want it called out. I thought it was okay. No, it was not got him. So we are going to start with 381 so we'll do the amendment first will be new needed on the floor to be ordered published. So Councilman Ortega, would you please put 381 on the floor to please. Mr. President, I move that council bill 381 be ordered published. All right. It has been moved in, second in. And now, Councilman Monteiro, we need a motion to amend.