Erie council approves 36-acre Sports Business Improvement District with $6.1 million in public improvements

Erie — The Erie Town Council on Nov. 4 voted to organize the Erie Sports Business Improvement District (BID), authorizing a 2025–26 operating plan that staff said would support a proposed 36‑acre sports complex southeast of Bunnell and Bridal. Council approved Resolution 25,176 by voice vote after a public hearing with no speakers.

Town staff and the petitioner presented the project as a mixed indoor-outdoor athletic complex with three soccer fields, multiple indoor ‘‘flex’’ courts and seven commercial pad sites. Staff said the development agreement and final plat were approved previously and presented an estimated $6,100,000 in public improvements tied to streets, sidewalks, sewer, drainage and park infrastructure.

The petitioner’s presentation described opportunities for regional tournaments and regular recreational play, noting the petitioning club serves about 1,800 participants now and draws players from surrounding communities. Developer representatives said the eastern portion of the site — where the soccer fields and indoor facility would be — is intended to be donated to a nonprofit or the soccer club and that pad sites could be sold or leased to restaurants, retail or light industrial uses.

The finance plan attached to the operating plan shows a conservative initial bonding projection of $7.6 million (the petitioner said this included a 25% cushion), while noting a larger theoretical bonding capacity in the plan. Staff and counsel explained that Colorado law caps BID-authorized debt service mills and allows an annual operating-plan review; Zachary White, general counsel for the petitioner, said the BID model was chosen as a better fit than a commercial metropolitan district for this project. Counsel said bonds would be tax-exempt and structured similarly to typical 40‑year municipal bonds.

Council members questioned whether the mill levy and an additional public-improvement fee would disincentivize retailers but were told the built infrastructure, marketing and security financed by the BID are intended to attract customers and tenants. Off-site costs tied to a signalized intersection and a future east-side road were identified as roughly $800,000 of the broader improvement costs the petitioner expected to cover.

Petitioners said horizontal financing for the site is largely in place but they are working to secure a town‑required letter of credit (the petitioner described it as approximately 125% of the construction cost coverage during the guarantee period). The council heard that the operating plan would return annually for approval if the district issues any debt.

With no public speakers, the council moved and unanimously approved Resolution 25,176 to organize the Erie Sports BID, establish a board, and approve the 2025–26 operating plan and budget. The resolution sets an initial authorized indebtedness cap of $7.6 million as presented to council.

Council: The council asked about board selection (staff said the council may appoint directors initially with statutory options for later elections), maintenance responsibility (the petitioner said the BID would provide ongoing maintenance and the developer would retain an interest in quality control), demand for programming, and the potential for targeted retail. The petitioner answered that the club’s current regional draw and expressed interest from several athletic operators supported demand forecasts.

Next steps: The BID’s operating plan and any future bond issuance would return to council for annual review and specific debt approvals; the petitioner said site construction planning and securing the letter of credit were in progress.

Quote: "This is a unique opportunity to bring more soccer fields and sports activities to Erie," said Jack Hill, the town’s business development specialist, during the presentation.

The council approved the resolution; no recorded roll-call tally was read into the record beyond the mayor’s call for ayes and the motion being declared carried.