County approves funding mechanisms for Ranch - Reporter-Heraald
Thomas Clayton
$110 million debt will be paid by 2039 when sales tax expires, officials said
Larimer County will finance the second phase of the Ranch Master Plan with Certificates of Participation, a financing tool used by local governments to pay for large projects, after a unanimous vote from Larimer County Commissioners during their Tuesday administrative matters meeting.
The $110 million raised by the certificates will fund Phase II of the Ranch Master Plan, after Phase I was completed last year. The goal of the plan is to bring the events complex into financial self-sufficiency by 2039, when the sales tax that was passed by voters to finance its construction and operations will sunset.
Phase II includes a variety of projects ranging from an outdoor concert amphitheater, a-10 lane archery range, a youth sports and hockey training facility, renovations to Blue Arena, infrastructure work to make the campus more easily accessible, and other improvements.
Certificates of participation are a municipal funding structure that offers existing assets as collateral for cheaper debt, often used by local governments like counties, cities and school districts.
This revenue stream will provide needed funding for the plan through a mix of tax-exempt and taxable sources, which gives the Ranch flexibility for some of its private revenue streams such as branding, according to Larimer County Finance Director Lorrie Lopez.
She added that even with a conservative approach to sales tax collection, the county will be able to service the debt the certificates will incur.
The payments are also structured to be fully paid off by the time the Ranch sales tax sunsets in 2039, Lopez said.
“This is really re-envisioning what the Ranch can be as an entertainment venue and a public venue for our community,” said Larimer County Commissioner Kristin Stephens.
County Manager Lorenda Volker said that the process had been ongoing for two years, and that it involved work from across county departments, ranging from finance teams and legal to the Ranch staff, as well as her own department.
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“This has been going on for probably two years, in earnest for the last year, identifying the projects in the master plan and their cost, nailing down the details on this, making sure we’re not taking on more than the tax can cover,” she said. “So I want to stress, we really are being good stewards of public resources, following through on our commitment to the community, and carrying out that master plan, which folks can find on the Ranch website.”
 | Tom Clayton Communication and Media Specialist, Public Affairs |
| Commissioners' Office 200 W Oak St, Fort Collins, 80522 | 2nd Floor W: (970) 498-7005 tcla...@larimer.org | www.larimer.org |