Denver, CO
Theater backed by DDA delays opening after convoluted city loan process
Blair Russell and Steve Wargo kicked off their LoDo theater with a song and a dance.
It wasn’t their first production, but rather, the overly elaborate and frustrating process of getting money from the Denver Downtown Development Authority.
“By the end, it was like CC’ing just 10 people on emails, just hoping that one of the people was the right one,” Russell said.
The duo were awarded a $400,000 loan from the city affiliate last July to help them launch the Denver Immersive Repertory Theater at the corner of 15th and Blake streets. They said what ensued was months of back and forth, with redundant questioning and confusion from city staff.
“Some of them, it didn’t feel like they even knew who we were or what we were asking for,” Russell said.
The men finally got their loan last month. But they said the ordeal pushed back the theater’s opening date by at least two months.
“How do we plan to open a business when we have no idea how many more steps this is going to take, what the process is and what they really, truly expect the timeline is?” Wargo said.
DDA tasked with revitalizing downtown
The DDA has existed since 2008, when it was formed to redevelop Union Station. In the wake of the pandemic and years of construction along the 16th Street Mall, a small group of voters extended the organization’s mandate to the whole of downtown, approving $570 million in bond funding.
That money will be used for a variety of things intended to revitalize the area, from helping launch retailers to renovating parks and partially financing the conversion of offices into apartments. The money is generally expected to be repaid from the increase in taxes created by the new investments.
About $155 million has been awarded so far.
When Russell and Wargo applied for DDA funding in early 2025, their business plan was largely ironed out. The two were looking to open an “immersive” theater, where people come to participate in the play, not just watch. Its first production, “Midnight’s Dream,” will feature 11 rooms with scenes happening simultaneously — 18 hours of acting in each show.
The pair hoped to put DDA money toward the $750,000 build-out of their location at 1431 15th St. When they applied, they were under the impression that the award would be a grant.
“I think everybody went into this not knowing how the funds were going to be delivered,” Russell said. “So you just make some assumptions. And we heard that there were grant funds, we heard that there were loans — that they had different ways of implementing this.”
Ultimately, a loan is what they got. The terms: 10 years at 3% interest, better than they’d be able to get elsewhere. Mayor Mike Johnston announced July 30 that Russell and Wargo’s theater, along with nine other projects, would be awarded a combined $100 million.
“Today launches downtown Denver’s economic recovery into overdrive,” Johnston said at a news conference.
First recipients just now getting money
But as the mayor was speaking, the DDA had yet to even source the money it was awarding.
Among the funding recipients announced in July was Green Spaces, a recently shuttered RiNo coworking, event and retail space that’s opening at 16th and Welton streets.
“It wasn’t smooth, but it wasn’t a terrible, strenuous process,” Green Spaces CEO Jevon Taylor said of working with the city and DDA.
The 30-year-old entrepreneur said his opening date for Green Spaces was pushed back from spring to this summer. But he doesn’t attribute that to one party, instead saying that he faced difficulty getting everyone — the city, his landlord, his subtenants — on the same page.
“I was just playing middleman,” Taylor said.
The city approved DDA for its own loan in November, giving it the first tranche of funds to dole out. PNC Bank provided the authority with a $160 million loan expiring in July 2038 and a short-term, $50 million line of credit.
“When [the award] was announced, and when we applied, we went into it with the idea that we would use it to finish the core and shell construction on our space,” Russell said. “Because we didn’t get the money in September or October, we had to just move with our own funds to do that work.”
That’s when the conversation shifted from Russell and Wargo being asked by city officials how the business would operate and use the funds to how they wanted to receive the money. That stage of the process also took months.
“We couldn’t have done that before?” Russell recalls thinking.
Now, with the loan in hand and the build-out well underway, they plan to use the funds to pay actors and for other ancillary expenses.
Mosher: Process ‘was too cumbersome’
Bill Mosher, Denver’s chief projects officer and a primary architect of the DDA, told BusinessDen in an interview that the process could have been better.
“I cannot refute, disagree, or say anything they said is not true,” he said of Russell and Wargo.
The hang-up, Mosher said, was that the DDA put the recipients of the awards through a city program that distributes loans to small businesses. But that process was far more complex and intensive than needed, he said.
“It was too cumbersome, and we need to be more flexible,” he added.
Going forward, Mosher said, the DDA will play a larger role in administering its loans to businesses directly. That means having a primary point of contact and establishing guidelines on how the funds ought to be distributed.
Mosher pointed to the DDA’s process for office-to-residential conversion loans, which are outlined in a simple, one-page document on its website.
Despite their frustrations, Russell and Wargo said they’re grateful for the DDA funding. They said the involvement of the city affiliate even helped them pick up investors. The two had previously been self-funding the entire endeavor.
“It’s so rare to get that type of support for a project of this nature that [it] was actually a plus to investors,” Russell said.
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Denver, CO
Family identifies teenage victim of deadly shooting at recreation center in Denver
Family members have identified the teenage victim of the deadly shooting at Denver’s Montbello Recreation Center as 14-year-old Mikail Nasir Khalid Payne, who went by Nasir. According to the family, Nasir was standing up for his older brother in an altercation when the shooting happened.
The shooting happened Thursday night at the Montbello Recreation Center off E. 53rd Ave in northeast Denver. Denver Police say a boy has since been arrested and is being held in custody for investigation of first-degree murder.
Nasir’s uncle, Sareef Aleem, said his two nephews went to the rec center on Thursday night. He said Nasir’s older brother was there when the shooting happened and witnessed it.
“Two kids confronted Hassan, and they put their hands on him, and as soon as Nasir stood up, another kid, a third kid that was on the side, blindsided him, and just shot him,” said Aleem. “It’s very difficult. I got the call late last night, we’re just shocked.”
Police say those involved knew one another, and the victim, Nasir, died at the scene. Police also say it was an isolated incident.
A recreation center is known to be a safe space for many kids after school or during the summer, Nasir’s family says.
“They were created to be a safe place for our kids to go, where they didn’t have to worry about getting shot or assaulted,” said Aleem. “We need to check our kids, check their bags, check their rooms and make sure that they’re taking basketballs to the rec center and not pistols.”
Jolon Clark, Executive Director of Parks and Recreation, said in a statement, “Recreation centers are more than facilities. They are gathering places where community is built, where young people learn and grow and where families come together. They have long been and remain the safest place for our youth to gather, which makes today so much harder.”
Aleem said his nephew, Nasir, was one month away from turning 15. He added that Nasir was respectful, kind, and had an entrepreneurial spirit.
“He used to help his family with their landscaping business on a regular basis. He also used to sell little perfume oils right here in this neighborhood and at the car wash over there. People knew him and respected him,” said Aleem.
“He was well-mannered, courteous, excellent character,” said Imam Abdur-Rahim Ali.
Abdur-Rahim Ali and others gathered at an Islamic Center on Friday, a day of worship for the Islamic community, where Nasir and his family visit often.
“I knew him from coming here for services. He was very intelligent, respectful individual. He came in and made prayer on a frequent basis, and just a respectful youth,” said Abdur-Rahim Ali. “The main day of worship for us is on Fridays, so many people came today, and we told them what happened. Of course, it’s a shock.”
Aleem said in Islamic tradition, family members try to bury their loved ones within 24 hours. As Memorial Day Weekend is just ahead, he added it’s been a burden on the family to take care of before the holiday.
“His family is distraught right now. They’re trying to process what happened. His family just wants everybody to know that he was a good kid, and he didn’t deserve this,” said Aleem. “It’s just a shame that he’s not around to fulfill his dreams.”
The family is also raising money to cover funeral costs.
As the investigation is underway, the Montbello Recreation Center is also closed until further notice.
In a statement from Mayor Mike Johnston, he said, “No statement can capture the grief we feel today. Our hearts are broken. To the family of the victim and the entire Montbello community, know that you have our deepest sympathies and our unwavering support.”
In a statement from the Denver City Council, they said: “The Denver City Council joins Mayor Mike Johnston in extending heartfelt sympathies to the victim’s family, Montbello residents, young people, and the staff at the Montbello Recreation Center following Thursday’s tragic shooting.”
Denver Police are asking anyone with information about the shooting to call 720‑913‑7867.
Denver, CO
Agency releases claim on $5 million of $7.5 million owed for new Broncos stadium
When the Colorado Department of Transportation’s investment arm had the chance to buy the idle Burnham Yard from Union Pacific in early 2021 for $50 million, money was tight.
CDOT turned to the Colorado Office of Economic Development and International Trade for a $7.5 million loan, which, together with a $7.5 million down payment from the High Performance Transportation Enterprise or HPTE, allowed a $35 million commercial bank loan to move forward in May of that year.
The deal was touted as a once-in-a-generation opportunity that would allow Interstate 25 between Colfax and Santa Fe to be widened and straightened. The purchase could improve transit access, including serving as a potential hub for a Front Range Passenger Rail line.
Not only would frustrated commuters gain back the countless hours of time they were losing to a poor road design, but chances were good that CDOT could make money on flipping the land it didn’t need.
Definitely enough to repay OEDIT, Shoshana Lew, CDOT’s executive director at the time, reassured commissioners.
None of that is happening.
CDOT will sell the 58 acres of Burnham Yard to the Denver Broncos, who are looking to build a new stadium on the site, for $45.8 million, less than what it paid.
After a deeper dive, CDOT nixed its original plans for transit improvements and found the land was more contaminated than expected. It also realized that straightening out I-25 was going to cost billions of dollars it didn’t have.
But not all was lost. A $4 billion football stadium and entertainment district will go into the area, with transit upgrades to serve that new use.
And as for the $7.5 million loan that is owed to OEDIT, only $2.5 million will go back into the state’s Strategic Fund, which is used to recruit employers and fund economic development programs across the state.
The fund has about $3.8 million left.
“What we are asking for today is to convert $5 million of the $7.5 million overall loan into a grant to make the rest of the infrastructure commitments that we’ve made happen,” Lisa Kaufmann, strategic adviser to Gov. Jared Polis, told the Economic Development Commission on Thursday morning.
The money would help fund a relocation of the main rail line, improve road access from Interstate 25, and eliminate three at-grade rail crossings.
For the “modest investment” in public infrastructure, the state would get billions of dollars in private investment, Kaufmann said.
And if that weren’t enough to sway the commissioners, Kaufmann reminded them that the reason the Strategic Fund even had the dollars to lend out was that she had lobbied to get $40 million in American Rescue Plan Act funds in there.
That $1.9 trillion federal program included $350 billion to help state and local governments recover from the pandemic.
After going into an executive session, the commissioners approved the request.
Colorado lost jobs last year and is struggling to add residents, an area that the Strategic Fund helps address.
But the state also faces a $1.5 billion shortfall for the upcoming fiscal year, a gap more severe than what it faced in 2021 when it borrowed the $7.5 million from OEDIT.
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Denver, CO
Police investigate shooting at Montbello Recreation Center
DENVER (KDVR) — Police are on the scene of a shooting on Thursday at the Montbello Recreation Center.
The Denver Police Department initially reported the shooting happened in the 15000 block of East 23rd Avenue.
Police said a juvenile was pronounced dead at the scene.
There is no suspect in custody at this time, but officers said they are gathering suspect information.
Anyone with information regarding the incident is asked to contact Metro Denver Crime Stoppers at 720-913-7867.
This is developing news. FOX31 will update.
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