To: Honorable Mayor and Members of Town Council
From: David L. Corliss, Town Manager
Title
Resolution Approving the Agreement Between the Town of Castle Rock, the Board of County Commissioners of Douglas County, and the Gold Crown Foundation for Parks Funding [Dawson Trails]
Body
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Executive Summary
As Council is aware, the Town has committed to participate in the Gold Crown Foundation project planned at Dawson Trails, along Dawson Trails Blvd., generally north of the planned Costco warehouse facility. As a review of the Gold Crown project:
• The facility will be constructed on a 22-acre site dedicated to the Town for parks and recreation purposes within the Dawson Trails Planned Development.
• Gold Crown Foundation is seeking to build a 68,000-square foot indoor facility.
• The facility will be comparable to the existing Gold Crown Field House in Lakewood, Colorado, which opened in 2003.
• The expected hard costs of the project will be approximately $26,000,000, with a total project budget of $35,000,000. The project will have a larger fundraising goal to cover equipment and contingencies, and the potential construction of an external 2.0-acre multi-purpose turf field and an additional two basketball courts.
• Construction of the project is expected to commence in the first quarter of 2027 in conjunction with the opening of the Crystal Valley/I-25 interchange, with a planned opening date in the second quarter of 2028.
• In addition to the typical amenities (bathrooms, offices, concessions, etc.), the facility would consist of:
• Six (6) high school regulation basketball courts;
• Nine (9) overlapping volleyball courts; and
• A multi-purpose room for STEM and Enrichment camps.
• The facility will house Gold Crown programs and be available to non-Gold Crown groups to rent in support of their own programming.
• Through tournaments and leagues, it is intended that this facility will be a destination location and bring approximately 500,000 people annually from all along the southern I-25 corridor to the Town.
Intergovernmental Agreement (IGA)
The IGA covers the County’s contribution of $7.5 million toward the project, the Town providing a deed for the fee simple interest in the property to Gold Crown, a limited reversionary interest in the property if Gold Crown essentially defaults within the first 10 years after the transfer, and assurances that Gold Crown will have the funding to proceed with the project before the transfer of the property occurs.
Fee Waiver
Gold Crown has requested in the letter contained in the agenda packet a Town waiver of anticipated fees associated with the project, with a waiver not to exceed $1 million. The anticipated Town fees on the project currently total slightly above $1,147,000. Staff has anticipated some level of Town financial participation in this project, has identified funding in the General Fund reserve account for economic opportunities, and supports this fee waiver funding request. The Town will use these funds to reimburse the various impact fee and other funds. Because staff did not know the exact timing of the need for the fee waiver when the 2026 budget was recommended last year, a budget amendment will be required in the future.
Staff Recommendation
Staff recommends approval of both resolutions adopting the IGA and the fee waiver as presented.
Proposed Motions
“I move to approve the Resolution Approving the Agreement between the Town of Castle Rock, the Board of County Commissioners of Douglas County, and the Gold Crown Foundation for Parks Funding.”
“I move to approve the Resolution Approving the Waiver of Up to and Including $1,000,000.00 in Development Impact Fees and Land Use Fees for the Gold Crown Fieldhouse Project.”
Alternative Motions
“I move to approve the resolution, with the following conditions: (list conditions).
“I move to continue this item to the Town Council meeting on (date) to allow additional time to (list information needed).”
Attachments
Resolution