Denver and northern Colorado officials aired differences on Wednesday with the Colorado Economic Development Commission on how much money their projects should receive in state tourism revenue.
The commission is scheduled to issue its decision by Dec. 10.
Earlier this month, the commission approved the applications for the — expansion of the Stock Show grounds to include a variety of entertainment options — and four projects in northern Colorado, including a horror film center next to the Stanley Hotel in Estes Park.
Denver is trying to convince the commission that the project deserves the full $128 million it requested for the National Western Center project.
An independent analyst, Economic & Planning Systems, has differed with the city on key points, saying the project should get $81 million.
Among other things, there were disagreements over estimates of lower attendance at the Stock Show during the renovation of Interstate 70, and over growth-rate inflation numbers used in calculations for future revenue.
The city estimates that during the construction of the new I-70, 15 percent of visitors would be lost and not return once the new facility is up and running. Stock Show president and CEO Paul Andrews believes that number will be closer to 25 percent.
“It’s a big problem,” Andrews told the commission. “If you experience that sort of hassle, are you coming back? We may lose them for years and years even though new facilities open up.”
Denver wants the inflation number set at 3.4 percent, even though EPS has it at 2.5 percent.
Also in dispute is the number of in-state “net new” visitors — those from Colorado who go to the National Western Center just to visit the complex. The EPS analysis shows 187,354 would do just that compared to Denver’s estimates of 426,418.
“Where we disagree is the net new in-state,” said Brian Duffany, vice president for EPS.
The four projects from , a coalition of communities in northern Colorado, were closer to the outside analyst’s numbers, said consultant Mike Anderson.The group has concurred with the 2.5 percent inflation rate.
The group has asked the state, under the Regional Tourism Act, to collect $86.1 million over 30 years from the extra state sales tax revenues that new out-of-state visitors to the area are expected to generate.
Projects in that proposal include: the PeliGrande Resort & Windsor Conference Center; Indoor Waterpark Resort of the Rockies; U.S. Whitewater Adventure Park; and the Stanley Film Center.
EPS estimates the Stanley project would bring in $28.5 million in new new sales tax revenue, while GoNoCO has it at $46.4 million.
“We need all the money,” Anderson said.
Carlos Illescas: 303-954-1175, cillescas@denverpost.com or @cillescasdp
