June 19, 2024

Rocky Daily News

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1st Bank Center was financial wound for city of Broomfield

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Broomfield’s urban renewal authority voted this week to cut ties with Peak Entertainment after the venue didn’t drive the city’s economy like it had hoped.

BROOMFIELD, Colo. — When the former Broomfield Event Center opened in 2006, the city expected revenues in the surrounding urban renewal areas to help pay for the bonds on construction costs in the next few years.

It took 14 years for the surrounding Wadsworth Urban Renewal Area to earn enough revenue to make a full payment on the bond. Now 16 years after the venue opened, city leaders plan to close it down in November and potentially demolish it.

“The time has come to rip the band aid off,” Broomfield…



2023-05-25 20:35:11

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