for a new National Western Stock Show & Rodeo site are impressive but are missing a key component: cost.
It is one thing to dream big, but it is another to have to pay for those dreams.
The recent presentation of the site’s proposed master plan is part of a long process, and some have said construction could span multiple mayoral administrations.
We also realize the city will be exploring any and all finance options. But this seems like an old marketing tactic: Show them the goods before revealing the price.
Plans call for a redeveloped Denver Coliseum, moving railroad tracks to make way for a festival park, partnering with Colorado State University on an equine sports clinic, and an open-air market.
The project would greatly expand the site of the 95-acre stock show that has been in operation for more than a century. It would involve acquiring as much as 100 acres of private property. And moving a rail line is not an inexpensive endeavor.
Costs could go well over $500 million. That is only a rough estimate at this point because no one from the city will discuss a possible price tag.
Mayor Michael Hancock said funding will have to be a “lasagna” of federal, state and city financing.
The last resort, he said, would be asking voters to approve a sales tax. likely be tapped through a special tax. And the city will explore its bonding capacity.
Hancock said he is hoping for public-private partnerships, grant money and private money.
In mid-February, Denver will apply for the final $50 million from the Regional Tourism Act fund and will have to begin disclosing some cost estimates by then.
Hancock said the plans are being broken down into phases and officials are only beginning to put prices on those pieces.
The design is well thought-out and could make that section of the city a jewel. But the public needs to know how much it will cost.
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