Denver council approves stadium financing package, prompting debate over $70M in public capital and bond interest use

Denver City Council on Monday approved a set of bills and a rezoning that together clear the way for a purpose‑built National Women’s Soccer League stadium at the former Gates Rubber Company site, despite sharp debate over the use of city capital dollars and bond interest.

Council voted to pass a block of bills (Council Bills 15‑52, 15‑53, 15‑54 and 18‑50) tied to intergovernmental agreements with Broadway Station Metropolitan District No. 1 and other project elements, and separately approved Council Bill 15‑41 to change zoning for 709 S. Delaware St. The block of bills passed with a recorded tally of 10 ayes; the rezoning passed 11–1.

Why it mattered: Supporters argued the package brings long‑delayed redevelopment, prevailing‑wage jobs and a community benefits agreement (CBA) negotiated by neighborhood volunteers. Opponents warned that the city is reallocating roughly $70 million in capital improvement funds and using bond interest earnings (the administration has estimated roughly $65 million in Elevate bond interest earnings overall) to backfill other Elevate projects so CIP dollars can be applied to the stadium — a funding approach some council members said was not adequately publicized.

What council members said: Council member Lewis said she would vote no, citing procedural concerns and a lack of confidence in some financial choices. “I do not feel comfortable permanently changing the uses of this special revenue fund,” she said during debate. Council member Cashman, who voted yes, said the project and its CBA can “have a transformative effect on surrounding neighborhoods” and that the city will gain access to a long‑vacant parcel for future public benefit if the venture fails.

Community benefits and conditions: Community negotiators and neighborhood leaders described the CBA as securing about $7 million in direct community investments over 10 years, commitments to LEED and tree planting, and prevailing‑wage construction and operations commitments from the ownership group. Supporters — including neighborhood association leaders and members of a supporters’ group — urged council to approve the package based on those commitments and the potential economic activity from construction and operations.

Financing details and limits: City staff clarified that Elevate bond interest must be spent on Elevate projects; the administration said it plans to apply interest earnings to previously CIP‑supplemented Elevate projects in order to free up CIP dollars for the stadium package. City economists and DURA representatives told council that much of the projected economic impact is construction‑driven and that tax increment financing (TIF) projections for the district estimate roughly $158 million in incremental tax revenues over the life of the district; DURA said about $44 million of that is currently projected to reimburse existing obligations and roughly $133 million could be subject to the 90/10 split with the club under the IGA.

Votes at a glance:
Council Bills 15‑52, 15‑53, 15‑54 and 18‑50 (stadium financing/IGAs): passed, recorded as 10 ayes.
Council Bill 15‑41 (rezoning 709 S. Delaware St., Baker): passed, recorded 11 ayes, 1 nay.

What’s next: The council adjourned after the votes. City staff and neighborhood committees will proceed to implement the CBA commitments and continue developing grant and capital stacks for components such as a pedestrian bridge that council members flagged as requiring additional funding. Several council members said they will continue to press the administration for clarity in the 2027 budget cycle on how the city’s commitments will be sequenced and repaid.

Representative quotes: “I do not feel comfortable permanently changing the uses of this special revenue fund,” Council member Amanda Lewis said before casting a no vote. “We can find the dough that we need to keep our families inside,” Council member Cashman said when describing tradeoffs with homelessness services.

The council also scheduled a required public hearing on Jan. 5, 2026, for a preservation designation at 1407 E. 11th Ave; protests must be filed by noon on Dec. 29, 2025.