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Home My WebLink About20201028.tiffOFFICE OF BOARD OF COMMISSIONERS PHONE: 970-336-7204 FAX: 970-336-7233 1150 O STREET P.O. BOX 758 GREELEY, COLORADO 80632 March 31, 2020 To Whom it May Concern: We have received letters from you and others regarding your support for the Future Legends Sport Park (formerly known as Colorado National Sports Park). The Board of Weld County Commissioners is supportive of the project also. The associated issue the Board is not supportive of is participation in the Colorado PACE (C -PACE) program. The Board of Weld County Commissioners historically has had grave reservation about the C -PACE program. The Board believes the C -PACE program is poor public policy that is statutorily and structurally faulted. C -PACE was originally intended for commercial properties to finance energy savings improvements, e.g. solar panels. The theory being the energy savings would pay the additional taxes. Normally, a tax lien is a tax for public entities such as counties, schools, cities/towns, fire districts library districts, etc., on a stable valued property to ensure steady funding mechanisms to these entities. Tax liens are collectible because the value of the total lien by the time it is transferred by a Treasurer's deed is generally less than 5-10% of the total market value of the underlying asset. This assumes a property having a stable value would have a wide audience of potential purchasers. Unlike other programs involving Colorado county treasurers and tax collection, C -PACE is a method of private debt collection and not a tax to fund a publicentity. Because of C -PACE assessments' unique nature, it does not work in the normal ways of other delinquent tax collection. For example, under state statute C -PACE prohibited the transfer of a property with a C -PACE loam on it by Treasurer's deed, as that wipes out all other debt and only the governmental liens remain. You can see why they would want to do this. Unfortunately, this totally breaks the tax lien process which makes governmental obligation payments feasible. Weld County's reservation and concerns with the C -PACE program materialized with a project in Fremont County, CO with a delinquent property tax payment on a recent C -PACE project. According to the Fremont County Treasurer, C -PACE and/or their private lender promised to come to the tax lien sale to purchase the certificate — they did not do so. C -PACE claims they never made such a promise. C -PACE is now demanding that the lien be assigned to them. It is not that simple. There are multiple liens and an assignment would mean transferring the total governmental taxes due including the lien to the private lender. That doesn't make any sense and it does not satisfy the underlying authorities' tax obligation. A purchase of the lien would put the lender in essentially the same position, but this would pay the underlying authorities. However, due to the original enabling authority the Fremont County Treasurer cannot transfer a lien with a C -PACE loan on it to anyone which leaves the lender without any good recourse. The Fremont County situation is exactly why Weld County decided to opt out of the C -PACE program. Weld County is not alone in our decision of not participating in C -PACE. Thirty-four (34) out of the other sixty-four (64) counties are also not participating in C -PACE. Weld County prides itself on our conservative financial management, as evidenced by no debt, no sales tax, fully funded retirement plan, and one of the lowest property tax mill levies in the state. We are also known as being business friendly. Historically, to accomplish what Weld County has done in its prudent financial management Co Myr1;Co.♦;©nS 2020-1028 oi-f/o6/a0 there have been times our decisions have not been politically popular, but in the end Weld County's decisions have proven to be the right ones. We are confident in the case of the C -PACE program this will be another decision looked back upon as the right decision. Weld County is willing to try to assist with this project in another way that will not potentially put Weld County or its taxpayers in jeopardy. We hope you appreciate our concerns and decision regarding the C -PACE program. Sincerely, BOARD OF COUNTY COMMISSIONERS Mike Freeman, Chair P`'O Steve Moreno, Pro Tem Barbara Kirkmeyer Kevin D. Ross HENSEL PHELPS March 27, 2020 Weld County Commissioners Weld County Colorado 1150 0 Street Greeley, Colorado 80631 Dear County Commissioners: Hensel Phelps has been involved with this development since May 2019. Since meeting with Jeff Katofsky and Ryan Spilborghs in May of 2019 our role has evolved from its possible builder, to its Program Manager, co -developer, development modeler and Construction Manager. Our role has become all -encompassing in order to meet the developments overall needs and success. For the past Nine (9) months we have participated or represented the development in all Town of Windsor matters, including Town hearings. We have procured the design and perform its administration, participated in the formation of the Future Legends Metropolitan Districts, and caused the construction of two multi -use long fields on the site, as obligated by the Cooperative Use Agreement between the Town and Future Legends LLC (formerly known as Colorado National Sports Park, "CNSP"). We have also participated in the assemblage the Equity Offering Package that you have been provided, development discussion with Hilton International, and act as the repository of all documentation and record keeping for the development. This development is good for the Town of Windsor, Weld County and Northern Colorado and the entire State, as it brings the much -needed retail services, affordable Professional Sports entertainment, and Youth & Adult Sports Programming to Windsor and the region. In addition to the services and financial benefits it brings it also advances the Town of Windsor's Storm Water and Flood Control Plan and Pedestrian & Bike Path Program. We would like to thank the commissioners for their time and favorable consideration for approving Future Legends as a Weld County C -Pace project. Please don't hesitate to contact us if you have any questions or concerns. Sincerely, Allan Bliesmer District Manager/ Vice President 420 Sixth Ave Greeley, CO 80631 720.592.2000 (O) 720.469.1764 (M) abliesmer@>henselohelos.com Karla Ford From: Sent: To: Subject: Attachments: Mike Freeman Tuesday, March 31, 2020 2:52 PM Karla Ford FW: HP Support Letter 20200331083727001.pdf From: Stacy Miller <sm iller@windsorgov.com> Sent: Tuesday, March 31, 2020 11:08 AM To: Scott James <sjames@weidgov.com>; Kevin Ross <kross@weldgov.com>; Mike Freeman <mfreeman@weidgov.com>; Barbara Kirkmeyer <bkirkmeyer@weldgov.com>; Don Warden <dwarden@weldgov.com>; Bruce Barker <bbarker@weldgov.com>; John Lefebvre <jlefebvre@weldgov.com>; Steve Moreno <smoreno@weldgov.com> @we ldgov.com> Cc: Andrew Meyer <andy@petrospartners.com>; Jeff Katofsky <jeff@katofskylaw.com> Subject: FW: HP Support Letter Caution: This email originated from outside of Weld County Government. Do not click links or open attachments unless you recognize the sender and know the content is safe. Hello Commissioners, We have been receiving letters of support for the sports park, I wanted to make sure you had received them as well. Best regards, Stacy Stacy Miller Director Town of Windsor I Economic Development Dir: 970-674-2414 1 Cell: 970-215-7076 I www.winndisorgov.co m Follow Us WWw.Wiri(isor oyI 1 Dan & Deb Austin 2055 Vineyard Dr, Windsor CO 80550-3524 Deb Cell: 970-39b-8549 Dan Cell: 970-396-0868 Home: 970-686-7069 Deb Email: DebDanAustinaaol.conn, Dan Email: daniellynnanstin@ gmail.com March 27, 2020 Dear County Commissioners: On behalf of our community, I would like to provide this letter of support for the Future Legends Sports Park (formerly known as Colorado National Sports Park) and request that Weld County approve this project for participation in the Colorado PACE program. I believe the Future Legends offers an incredible value proposition for the Town of Windsor, Northern Colorado, the entire State and beyond. I support this company's intention to locate their facility in the Town of Windsor and I believe this park will be an ideal regional location for access across the state and nation. I am aware Future Legends plans on spending more than $160,000,000 to build multiple sports fields, a 3,500+ seat stadium, multiple high end hotels, the nation's 3`a largest indoor fields facility and much more. The park will also be home two minor league soccer teams and one minor league baseball team. I would like to thank the commissioners for their time and favorable consideration of approving Future Legends (CLASP) as a Weld County C -PACE project. Please don't hesitate to contact me if you have any questions or concerns. Regards, WATER VALLEY AND COMPANY March 27, 2020 Weld County Commissioners Weld County Colorado 1150 0 Street Greeley, Colorado 80631 Dear County Commissioners: On behalf of the Town of Windsor, we would like to provide this letter of support for the Future Legends Sports Park (formerly known as Colorado National Sports Park) and request that Weld County approve this project for participation in the Colorado PACE program. We believe the Future Legends offers an incredible value proposition for the Town of Windsor, Northern Colorado, the entire State and beyond. We support this company's intention to locate their facility in the Town of Windsor and we believe this park will be an ideal regional location for access across the state and nation. We are aware Future Legends plans on spending more than $160,000,000 to build multiple sports fields, a 3,500+ seat stadium, multiple high -end hotels, the nation's 3' largest indoor fields facility and much more. The park will also be home two minor league soccer teams and one minor league baseball team. We would like to thank the commissioners for their time and favorable consideration of approving Future Legends (CNSP) as a Weld County C -PACE project. Please don't hesitate to contact us if you have any questions or concerns. Respectfully submitted, Martin Lind, President Water Valley Land Company 1625 Pelican Lakes Point ! Suite 201 • Windsor, CO •80550 (970) 686-5828 www.watervalley.com COMMERCIAL COATINGS INC. "A Veteran -Owned Small Business" March 27, 2020 Weld County Commissioners Weld County Colorado 1150 0 Street Greeley, Colorado 80631 Dear County Commissioners: On behalf of the Town of Windsor, we would like to provide this letter of support for the Future Legends Sports Park (formerly known as Colorado National Sports Park) and request that Weld County approve this project for participation in the Colorado PACE program. We believe the Future Legends offers an incredible value proposition for the Town of Windsor, Northern Colorado, the entire State and beyond. We support this company's intention to locate their facility in the Town of Windsor and we believe this park will be an ideal regional location foraccess across the state and nation. We are aware Future Legends plans on spending more than $160,000,000 to build multiple sports fields, a 3,500+ seat stadium, multiple high end hotels, the nation's 3rd largest indoor fields facility and much more. The park will also be home two minor league soccer teams and one minor league baseball team. We would like to thank the commissioners for their time and favorable consideration of approving Future Legends (CNSP) as a Weld County C -PACE project. Please don't hesitate to contact us if you have any questions or concerns. Respectfully submitted, Commercial Coatings Inc Troy Hamman Vice President 970-568-3664 8025 First Street Suite A • P.O. Box 1080 • Wellington, CO 80549 • Ph: (970) 568-3664 • Fax: (970) 568-3460 March 29, 2020 Weld County Commissioners Weld County Colorado 1150 0 Street Greeley, Colorado 80631 Dear County Commissioners: On behalf of the Town of Windsor, I would like to provide this letter of support for the Future Legends Sports Park (formerly known as Colorado National Sports Park) and request that Weld County approve this project for participation in the Colorado PACE program. I believe the Future Legends offers an incredible value proposition for the Town of Windsor, Northern Colorado, the entire State and beyond. I support this company's intention to locate their facility in the Town of Windsor and I believe this park will be an ideal regional location for access across the state and nation. 1 am aware Future Legends plans on spending more than $160,000,000 to build multiple sports fields, a 3,500+ seat stadium, multiple high end hotels, the nation's 3r1 largest indoor fields facility and much more. The park will also be home to two minor league soccer teams and one minor league baseball team. I would like to thank the commissioners for their time and favorable consideration of approving Future Legends (CNSP) as a Weld County C -PACE project. Please don't hesitate to contact me if you have any questions or concerns. Respectfully submitted, From the Desk of Perry Buck Resident of the Town Windsor March 30, 2020 Weld County Commissioners Weld County Colorado 1150 0 Street Greeley, Colorado 80631 Dear County Commissioners: On behalf of the Town of Windsor, we would like to provide this letter of support for the Future Legends Sports Park (formerly known as Colorado National Sports Park) and request that Weld County approve this project for participation in the Colorado PACE program. We believe the Future Legends offers an incredible value proposition for the Towi of Windsor, Northern Colorado, the entire State and beyond. We support this company's intention to locate their facility in the Town of Windsor and we believe this park will be an ideal regional location fog access across the state and nation. We are aware Future Legends plans on spending more than $160,000,000 to build multiple sports fields, a 3,500+ seat stadium, multiple high -end hotels, the nation's 3rd largest indoor fields facility and much more. The park will also be home two minor league soccer teams and one minor league baseball team. We would like to thank the commissioneas for their time and favorable consideration of approving Future Legends (CNSP) as a Weld County C -PM E project. Please don't hesitate to contact us if you have any questions or concerns. Respectfully submitted, Representative Perry Buck March 31, 2020 Weld County Commissioners Weld County Colorado 1150 0 Street Greeley, Colorado 80631 Dear County Commissioners: On behalf of the Town of Windsor and the State of Colorado, I would like to provide this letter of support for the Future Legends Sports Park (Formerly known as Colorado National Sports Park). I believe the Future Legends offers an incredible value proposition for the Town of Windsor, Northern Colorado the entire State and beyond. I support this company's intention to locate their facility in the Town of Windsor and believe this park will be ideal regional location for access across the state and nation. I am aware that Future Legends plans on spending more than $160,000,000 to build multiple sports fields, a 3,500+ seat stadium, multiple high -end hotels, the nation's 3`d largest indoor fields facility and much more. The park will also be home to two minor league soccer teams and one minor league baseball team. I would like to thank the commissioners for their time and favorable consideration and would urge you to approve the Future Legends (CNSP) as a Weld County C -Pace project. Please don't hesitate to contact me if you have any questions or concerns. Respectfully submitted, Senator, V iok& Marble, 200 E Colfax . RM 346 . Denver, CO 80203 . 303-866-4876 Karla Ford From: Sent: To: Subject: Mike Freeman Tuesday, March 31, 2020 2:53 PM Karla Ford FW: Letter of support for the Future Legends Sports Park From: Pat Broe <PBroe@broe.com> Sent: Tuesday, March 31, 2020 10:34 AM To: Mike Freeman <mfreeman@weldgov.com> Cc: k.melendez@comcast.net; Dean Brown <dbrown@broerealestate.com> Subject: Letter of support for the Future Legends Sports Park Caution: This email originated from outside of Weld County Government Do not click links or open attachments unless you recognize the sender and know the content is safe. Weld County Commissioners Weld County Colorado 1150 0 Street Greeley, Colorado 80631 Dear Commissioner Freeman: On behalf of the Town of Windsor, I would like to provide this letter of support for the Future Legends Sports Park (formerly known as Colorado National Sports Park) and request that Weld County approve this project for participation in the Colorado PACE program. I believe the Future Legends Sports Park offers an incredible value proposition for the Town of Windsor, County of Weld, Northern Colorado, and the entire State. I support this company's intention to locate their facility in the Town of Windsor and County of Weld and believe this is an ideal regional location providing easy access from across the state and nation. Future Legends plans on investing more than $161,000,000 to build multiple sports fields, a 3,500+ seat stadium, multiple high -end hotels, the nation's 3rd largest indoor fields facility and much more. The park will be the home of two minor league soccer teams and one minor league basebal team. As the oil industry continues to battle natural declines (in production), increased costs to produce and political pressures to shut down the industry, the Future Legends Sports Park could not come at a better time. This new industry will bring much needed temporary and permanent jobs and tourism dollars to the area as well as be a tax revenue stream for the Town, County and State for years to come. History has shown that over the years Windsor and Weld County have worked together bringing new industry to the area as legacy industries faded away. From the sunset of the sugar beet industry came the rise of Kodak. From the decline of Kodak came the rise of Great Western Industrial Park home to Vestas, Hexcel, Schlumberger, Haliburton, Owens Illinois, Plate Plus, Great Western Railroad and Intersand. Today, as the pressures continue for Kodak, begin to escalate for the oil and gas industry and are knocking on the door of our renewable energy partners, Windsor and Weld County have the opportunity to bring yet another new industry to the area. 1 Thank you, commissioners, for your attention to this matter. I encourage each of you to support the approval of the Future Legends Sports Park (CNSP) as a Weld County C -PACE project. Please contact me to discuss any questions or concerns you may have. Respectfully submitted, Pat Broe 2 People United for Responsible Government "Sowing the Seeds of Change in Weld County" March 30, 2020 Weld County Commissioners Weld County Colorado 1150 0 Street Greeley, Colorado 80631 Dear County Commissioners: On behalf of the Town of Windsor, we would like to provide this letter of support for the Future Legends Sports Park (formerly known as Colorado National Sports Park) and request that Weld County approve this project for participation in the Colorado PACE program. We believe the Future Legends offers an incredible value proposition for the Town of Windsor, Northern Colorado, the entire State and beyond. We support this company's intention to locate their facility in the Town of Windsor and we believe this park will be an ideal regional location for access across the state and nation. We are aware Future Legends plans on spending more than $160,000,000 to build multiple sports fields, a 3,500+ seat stadium, multiple high end hotels, the nation's 3" largest indoor fields facility and much more. The park will also be home two minor league soccer teams and one minor league baseball team. We would like to thank the commissioners for their time and favorable consideration of approving Future Legends (CNSP) as a Weld County C -PACE project. Please don't hesitate to contact us if you have any questions or concerns. Respectfully submitted, David W. Kisker, President People United for Responsible Government "Sowing the Seeds of Change in Weld County" P.U.R.G. 3620 10th St., Suite B-327 Greeley, CO 80634 Karla Ford From: Sent: To: Cc: Subject: Mike Freeman Wednesday, April 1, 2020 12:38 PM Jeff Katofsky; Karla Ford; smiller@windsorgov.com Commissioners; Don Warden; Bruce Barker; John Lefebvre; Jeff Katofsky RE: Response - HP Support Letter Jeff, I am responding to you on behalf of the Board of Weld County Commissioners. As the Board has indicated we are supportive of the project. Regarding using of an urban renewal authority (URA) and tax increment financing (TIF) since the project is in the incorporated boundaries of a municipality, in accordance with state statutes Windsor would have to create the URA to do the TIF, not the county. Like any proposed URA/TIF Weld County would consider a revenue sharing agreement with the URA. As a matter of county policy typically the county only shares 50% of the county's share of the county property tax in URA/TIF revenue sharing agreement. The county cannot speak for the other taxing entities sharing of their taxes. Windsor would have to negotiate revenue sharing agreements with them also. As indicated we will be happy to work with you and Windsor on pursuing this financing option. Mike Freeman, Chair From: Jeff Katofsky <jeff@katofskylaw.com> Sent: Tuesday, March 31, 2020 4:25 PM To: Karla Ford <kford@weldgov.com>; smiller@windsorgov.com Cc: Commissioners <COMMISSIONERS@co.weld.co.us>; Don Warden <dwarden@weldgov.com>; Bruce Barker <bbarker@weldgov.com>; John Lefebvre <jefebvre@weldgov.com>; Jeff Katofsky <jeff@oremowlz.co> Subject: Re: Response - HP Support Letter Importance: High Caution: This email originated from outside of Weld County Government. Do not click links or open attachments unless you recognize the sender and know the content is safe. I read your letter, including the offer for help. If Weld County grants us a TIF for the County and school district tax revenue [15 and 40 Mills, respectively], Future Legends can raise debt against it and come close to replacing the 25 Million Dollars on this project that your deactivation precluded. Please advise. Jeff Jeff Katofsky, Esq. 4558 Sherman Oaks Avenue Sherman Oaks CA 91403 818 9901475 ONLY REPLY TO ieff@katofskylaw.com Otherwise, I will not get it i We do not accept service of any legal documents or notices, of any kind, by email or electronic means. From: Karla Ford <kford@weldgov.com> Date: Tuesday, March 31, 2020 at 2:18 PM To: Stacy Miller <smiller@windsorgov.com> Cc: Commissioners <COMMISSIONERS@co.weld.co.us>, Don Warden <dwarden@weldgov.com>, Bruce Barker <bbarkerlweldgov.com>, John Lefebvre <ilEfebvre@weldgov.com>, andy meyer <andv@petrospartners.com>, Jeff Katofsky <ieff@katofskylaw.com> Subject: Response - HP Support Letter Ms. Miller, In response to your email, please see the attached letter from the Weld County Commissioners. Thank you! Karla Ford X Office Manager, Board of Weld County Commissioners 1150 O Street, P.O. Box 758, Greeley, Colorado 80632 :: 970.336-7204 :: kfordOweldgov.com :: www.weldg v.com **Please note my working hours are Monday -Thursday 7:00a.m.-5:00p.m.** Confidentiality Notice: This electronic transmission and any attached documents or other writings are intended only for the person or entity to which it is addressed and may contain information that is privileged, confidential or otherwise protected from disclosure. If you have received this communication in error, please immediately notify sender by return e-mail and destroy the communication. Any disclosure, copying, distribution or the taking of any action concerning the contents of this communication or any attachments by anyone other than the named recipient is strictly prohibited. From: Stacy Miller <smillerCc1iwindsorgov.com> Sent: Tuesday, March 31, 2020 11:08 AM To: Scott James <siamesCa'twelddgov.com>; Kevin Ross <kross@weldgov.com>; Mike Freeman <mfreemanta7weldgov.com>; Barbara Kirkmeyer <bkirkmeverc weldgov.com>; Don Warden <dwarden@weldgov.com>; Bruce Barker <bbarkert weidgov.com>; John Lefebvre <Lefebvre@weldgov.com>; Steve Moreno <smorenoPweldgov.com> Cc: Andrew Meyer <andv@petrospartners.com>;Jeff Katofsky <ieff@katofskvlaw.com> Subject: FW: HP Support Letter Caution: This email originated from outside of Weld Count/ Government. Do not click links or open attachments unless you recognize the sender and know the content is safe. Hello Commissioners, We have been receiving letters of support for the sports park, I wanted to make sure you had received them as well. Best regards, 2 Stacy Stacy Miller Director Town of Windsor I Economic Development Dir: 970-674-2414 I Cell: 970-215-7076 I www.windsorgov.com Follow Us www.windsorgov.com/socialmedia 3 Hello