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AN ORDINANCE AMENDING THE 2024 BUDGET OF THE CITY OF COMMERCE CITY, COLORADO, BY RE-APPROPRIATING REMAINING METROPOLITAN FOOTBALL STADIUM DISTRICT FUNDING BALANCES IN THE AMOUNT OF $24,398.28 FOR CONTINUED USE ON YOUTH ACTIVITIES AND AUTHORIZING THE EXPENDITURE THEREOF
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Summary and Background Information:
The Metropolitan Football Stadium District (MFSD) Act and Article 33 of the Lease and Management Agreement between the MFSD and PDB Sports LTD, Bronco's ownership, entitles the MFSD to a one time “Sharing Amount” of $41,037,951 in connection with the sale of the franchise. The City’s portion of the one-time “Sharing Amount” is $613,461.97 and was received from the MFSD in October 2022. Provisions in the Act and the subsequent Lease and Management Agreement require the funds be used for “youth activity programs.”
In July 2023, City Council approved Ordinance 2511, which amended the 2023 Budget to appropriate $595,461.97 worth of this revenue to be used for the youth activities summarized below, with the remaining balance to be appropriated in future years for youth conference activities in partnership with the City’s Youth Commission.
• Two capital improvement projects (an outdoor ninja course and an interactive light wall)
• Parks, Recreation & Golf managed efforts (horse trekking and services learning programs and First Tee/Junior Golf equipment)
• Funding allocations to recognized youth sports associations
• Funding allocations to the two school districts that serve Commerce City students for athletic, music, and theater programs
• Youth Programming Grants for organizations providing music, art, and stem programming for youth in Commerce City
• Youth conference activities (for three years - originally planned for 2023, 2024, and 2025, however, now scheduled for 2024, 2025, and 2026)
In September 2023, city staff provided a summary of how funds were being distributed to benefit Youth Activities Programs in Commerce City to the MFSD. All funds must be fully expended by the end of 2026.
At the end of 2023 (following Ordinance 2511):
• $571,063.72 was spent on youth activities or transferred to the Capital Expenditures Fund for planned use on two capital projects (an outdoor ninja course and an interactive light wall).
• A remaining balance of $24,398.28 is available for carryover from 2023 to 2024 for continued use on youth activities.
Outside of this, an additional $9,000 is available for appropriation in 2025 for youth conference activities and another additional $9,000 is available to appropriation in 2026 for youth conference activities. These remaining appropriations will be brought forward for City Council consideration in those future years.
Please see additional attachments included in the agenda item packet for more information:
• Ordinance 2605 (proposed for adoption)
• Ordinance 2511 (included for reference)
• Metro Football Stadium District (MFSD) Funding - Proposed & Actual Uses of Funding Summary
City staff will be available to answer questions you may have.
Staff Responsible (Department Head): Chad Redin, Parks, Recreation & Golf Director
Staff Member Presenting: Chad Redin, Parks, Recreation & Golf Director
Financial Impact: Total of $24,398.28 to be carried over to 2024, with an additional $9,000.00 to be appropriated in 2025 for youth conference activities, and another additional $9,000.00 to be appropriated in 2026 for youth conference activities)
Funding Source: The City’s portion of the one-time MFSD sharing amount
Staff Recommendation: Approve Ordinance 2605
Suggested Motion: Motion to introduce by council as seated and approve Ordinance 2605