Cities and counties in the metro area that helped pay for the Broncos stadium are getting a juicy $41 million windfall from the recent sale of the team.
This Denver Broncos season may be bearing little fruit in the win-loss column, but cities and counties in the metro area that helped pay for the stadium in which Russell Wilson and company play their games are busy unpeelingAccording to an accounting from the Metropolitan Football Stadium District released this week, Denver is the top recipient on the list of 47 cities and counties, with a disbursement of $12.5 million from the stadium district.
“It is not often that a City receives an unanticipated inflow of funds in this amount, and we’re very excited to put it to work for our youth,” Brighton’s finance director, Catrina Asher, said of the $454,000 coming her city’s way. . While 2% of the sales price is supposed to go back to the communities in the stadium taxing district, franchise debt and the Bowlen group’s capital contributions had to be deducted first, reducing the net profit from the sale to around $2 billion.
“We have hundreds of kids coming through there with Westernaires and 4H,” he said. “We’ve set a one-year deadline for us to figure out how to spend that money. We’re going to engage the public, put out surveys and gather stakeholder groups.”
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