A bill for an ordinance approving a proposed First Amendment to Intergovernmental Agreement between the City and County of Denver and Broadway Station Metropolitan District No. 1, amends an Intergovernmental Agreement (2017 IGA) between the City and County of Denver and the Broadway Station Metropolitan District No. 1, in Council District 7. Amends an Intergovernmental Agreement (2017 IGA) between the City and County of Denver and the Broadway Station Metropolitan District No. 1, in Council District 7 (FINAN-201736714/FINAN-201736714-01). The last regularly scheduled Council meeting within the 30-day review period is on 1-5-2026. The Committee approved filing this item at its meeting on 12-10-2025.

This ordinance approves the First Amendment to the 2017 Intergovernmental Agreement (IGA) between the City and County of Denver and Broadway Station Metropolitan District No. 1, located in Council District 7. This amendment updates the framework for the Santa Fe Yards Stadium and Redevelopment Project at I-25 & Broadway, which includes a new NWSL soccer stadium and mixed-use development on the former Gates Rubber Company site.

Key Financials:

• The City's total public investment is capped at $70 million. This includes $50 million from the Capital Improvement Program (CIP) for land acquisition and on-site stadium public improvements (funded by Elevate Bond Program interest), and up to an additional $20 million for off-site public infrastructure over 2026-2027.
• The revised project budget (Exhibit B) now includes $50,000,000 for the "Soccer Stadium Facility" within total reimbursable project costs of $133,267,242.
• Tax Increment Financing (TIF) revenues will be shared 90% redeveloper / 10% city to offset public infrastructure costs.

Key Provisions:

• Updates definitions and clarifies responsibilities for operations and maintenance of infrastructure (Exhibit C).
• Adds new contractual clauses for non-discrimination in employment, City Auditor's right to examine records, compliance with Denver Wage Laws (minimum wage and civil wage theft), and District's liability.

Timeline & Community Engagement:

• Property sale expected to close in late 2025, with on-site work beginning Q1 2026. The project is slated to open in 2028.
• A Community Benefits Agreement (CBA) was reached on December 4, 2025, with West East Neighbors United (WENU), addressing social equity, transportation, environment, and economic impacts.

This project will bring a professional women's soccer stadium and mixed-use development to the I-25 & Broadway area, activating a long-vacant site and creating an estimated 1,100 jobs and $82 million annually in economic activity. Residents will benefit from new public infrastructure, including a North Pedestrian Bridge, and enhanced community spaces, alongside stronger protections for workers through non-discrimination and Denver Wage Law compliance.

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