A bill for an ordinance making rescissions from and appropriations in Capital Improvements and Capital Maintenance Funds. Approves a rescission of $50,000,000.00 from various capital improvement fund capital programs previously used for providing supplemental funding for Elevate Bond projects and appropriates the funds as specified in the 2025 IGA with the Broadway Station Metropolitan District, in Council District 7. The Committee apporved filing this item at its meeting on 12-10-2025.

This ordinance, CB25-1554, approves the rescission of $50,000,000 from various Capital Improvement Program (CIP) projects and appropriates these funds to the Santa Fe Yards Capital Improvements project in Council District 7. This action fulfills a portion of the City's $70 million commitment outlined in a May 2025 Intergovernmental Agreement (IGA) with the Broadway Station Metropolitan District for a new mixed-use development, including a potential NWSL stadium, on the former Gates Rubber Company site.

Funding Details: The $50 million is made available by reallocating CIP funds that previously supplemented Elevate Bond projects. As the Elevate Bond programs near their 2027 completion, their accumulated investment income can now cover those projects, freeing up the CIP dollars. The remaining $20 million of the City's commitment will be funded in 2026 and 2027 through future Elevate Bond investment income and CIP revenues.

Rescinded Projects: Funds are rescinded from 15 capital projects, including:

• $8.3 million from 16th Street Mall Rehabilitation
• $7 million from FTA Small Starts Local Match
• $5.5 million from Street Rotomill and Overlay
• $4.95 million from Central Branch Library Modernization
• Other projects such as Transportation Maintenance Contingency, Traffic Signal Infrastructure, West Colfax Transit Enhancements, Speer Over Little Raven Bridge, Swansea Recreation Center, Sidewalk Gaps Safety and Repair, Peoria Multimodal Improvements, Bridge Maintenance, and ROW Concrete Maintenance.

Santa Fe Yards Development: The $50 million appropriation will fund land acquisition and on-site public infrastructure for the Santa Fe Yards project, with an estimated total cost of $55,961,129.50 for these initial improvements. A Community Benefits Agreement (CBA) was reached on December 4, 2025, between West East Neighbors United (WENU) and Denver Summit FC, addressing social equity, transportation, environment, and economic aspects. The project aims to transform the 41-acre dormant site at 709 S. Delaware St. into a vibrant community hub, expected to generate $82 million annually in economic activity and create approximately 1,100 jobs.

This ordinance enables the transformation of the long-vacant Gates Rubber Company site into a major mixed-use development and potential NWSL stadium, bringing significant economic activity and jobs to Council District 7. However, it reallocates $50 million from other capital projects, potentially delaying improvements to infrastructure like the 16th Street Mall, traffic signals, sidewalks, and recreation centers.

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