In a recent government meeting, officials discussed significant improvements to the Neeson Channel as part of a collaborative effort with the Mile High Flood District. The project, which is currently in Phase 1, aims to address stormwater overflow issues that pose risks to life and property in the area between Tennyson and Lowell. The Wasatch Residential Group is the primary developer involved, owning adjacent properties that include the former Broomfield Drive-In Theater site.

The proposed channel improvements are expected to benefit both the developer and the public by facilitating development while enhancing public access and safety. Funding for the project will be split evenly between the Mile High Flood District and the City and County of Broomfield, with additional contributions from adjacent property owners. The project is also linked to the Lowell Gateway Urban Renewal Area, established in 2013, which aims to revitalize the region.

Financially, the Wasatch Group is set to contribute $2 million, with $1 million being a loan to the city for project advancement. This loan will accrue interest at an 8% annual rate, raising concerns among council members about the high cost of borrowing. The city anticipates repaying the loan through property and sales tax revenues generated by the development, with expectations of full repayment within three to four years after construction begins.

Council members raised questions about the timeline for development, the repayment structure, and the implications of the interest rate. While the developer is eager to move forward, there are uncertainties regarding the approval of future development plans, particularly concerning retail space on the southern side of the property. The council emphasized the importance of balancing the urgent need for flood mitigation with prudent financial management.

A second reading of the ordinance related to this project is scheduled for November 12, where further public input will be welcomed. The discussions highlighted the complexities of urban development, financial obligations, and the necessity of addressing public safety concerns in flood-prone areas.