Title
Three Party Land Exchange and Potential Redevelopment Opportunity Surrounding Dick's Sporting Goods Park
Body
History:
In 2004, the City of Commerce City purchased 917 acres of land to the east and south of the Rocky Mountain Arsenal National Wildlife Refuge from the Federal Government with the vision of developing a vibrant Town Center for Commerce City. At the time of purchase, the land carried perpetual restrictions that prevented the construction of any residential, industrial, or agricultural uses on the property. A pathway to overcome the perpetual restrictions and allow residential construction on the land was adopted by the Federal Government in 2017. In the same year, the City of Commerce City, Kroenke Soccer Stadium, LLC, and the Urban Renewal Authority of Commerce City entered into multiple agreements to memorialize a partnership to redevelop the land as four unique districts:
District A: 380 acres ("South Campus Stadium Complex" - Became known as "Victory Crossing" in 2011)
District B: 200 acres ("Conservation Remnant")
District C: 210 acres ("South Campus Conservation")
District D: 127 acres ("North Campus")
In 2005, the city donated 55 acres to the Adams County School District 14 for the new 290,000-square-foot Adams City High School. Shortly after in 2007, Commerce City completed the construction of the 98,000-square-foot Civic Center and Kroenke Soccer Stadium, LLC completed the construction of the 18,000-seat Dick’s Sporting Goods Park stadium. On October 20, 2014 the City of Commerce City sold Kroenke CC Properties LLC +/- 269 acres of land outside of the stadium. The most recent addition to this plan area was the construction of the 14,000-square-foot South Adams County Fire District Office, which opened in 2018.
Three Party Land Exchange:
The City of Commerce City approved a budget for the Rosemary Street Widening Project as part of the Fiscal Year 2019 budget. The Rosemary Street Widening Project will be ready to commence construction after the City acquires a six acre parcel from South Adams County Water and Sanitation District necessary to build the project. The South Adams County Water and Sanitation District needs to obtain ten acres directly west of Klein Water Treatment Facility from Kroenke to build a polyfluoroalkyl substances (PFAS) remediation facility. Kroenke is interested in obtaining additional land surrounding Dick’s Sporting Goods Park stadium to begin the construction of additional Major League Soccer assets to support the Rapid's organization and begin working with the City on a partnership to develop the Town Center concept surrounding the Dick’s Sporting Goods Park Stadium as market conditions now support such a development.
Staff Responsible (Department Head): Jason Rogers, City Manager and Bill Aiken, Director of Urban Renewal
Others Presenting: Matt Mahoney and Keirstin Beck from Kroenke Sports & Entertainment as Master Developer
Financial Impact: NA
Funding Source: NA
Staff Recommendation: If the Three Party Land Exchange is supported, authorize the City Manager execute the necessary forms, applications, and other documents required to prepare the City's +/- 88.2 acres of land to be subdivided for a potential future land exchange by and between the City of Commerce City, Kroenke, and South Adams County Water and Sanitation District.
Suggested Motion: NA