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Go NoCO Regional Tourism Authority Projects Set to Bring More Than 423,000 Out-of-Town Visitors

Go NoCO Regional Tourism Authority Projects Set to Bring More Than 423,000 Out-ofTown Visitors and More Than $189.4 Million in New State Tax Revenue

Estes Park joins Larimer County, Loveland and Windsor with Stanley Film Center project to provide a passport to discovery and Colorado-inspired adventures in northern Colorado

LOVELAND, Colo. – Thursday, Sept. 17, 2015 – Go NoCO, a 501(c)(3) organization created to manage the RTA application process for the City of Loveland, Town of Windsor, Town of Estes Park and Larimer County, has submitted its final Regional Tourism Authority (RTA) application to the Colorado Office of Economic Development and International Trade. Go NoCO includes four synergistic projects that meet the state’s RTA requirements and that will provide a passport to discovery and Colorado-inspired adventures.

“The collaboration and collective appeal of Go NoCO’s four attractions will draw new out-of-state visitors and extend visitor trips considerably. Our application is centered on offering a regional approach to tourism and expanding economic vitality to more than one county and city as well as the state of Colorado,” said Patrick Brady, board chair of Go NoCO. “Since day one, we have been working to bring the state an RTA application with projects that truly meet the RTA criteria. We have brought together an A-team of proven developers and consultants to bring Go NoCO’s ‘development ready’ projects to life if awarded an RTA grant.”

The RTA program is designed to assist with the development of destination tourism attractions to bring new out-of-state visitors to Colorado. The program offers the use of net new state sales tax generated in a regional tourism zone (RTZ) to the development of the projects included in the RTA application. Per State Statute, the State Economic Development Commission, which oversees the process, can only award two more RTA grants; however, they are not obligated to award any. Go NoCO is one of two applications being considered.

The Colorado Office of Economic Development and International Trade has not yet supported a northern Colorado RTA application and Go NoCO has been working hard to add new extraordinary projects to its application to ensure that the RTA can help Colorado as a whole achieve tourism goals and draw out-of-state visitors.

If Go NoCO is awarded the RTA grant from the state of Colorado, its combined attractions will bring substantial tourism and economic benefits to northern Colorado and the state of Colorado including:

• 423,000 net new out-of-state visitors (NNOSV) to Colorado annually

• $189.4 million in new state tax revenue over 30 years

• $128.5 million in new tax revenue for Loveland over 30 years

• $70.9 million in new revenue for Windsor over 30 years

• $103.4 million in new tax revenue for Estes Park over 30 years

• $55.9 in revenue impact for Larimer County over 30 years

• 2,647 new permanent jobs and more than 4,100 construction jobs

• $86,119,375 in net new state sales tax revenue from NNOSV in the RTZ

About the Projects

Collectively, Go NoCO’s final slate of projects meet the needs of today’s travelers, who expect more from their vacation. There is increasing demand for access to destinations with abundant activities where guests can access diverse and dynamic experiences and activities. With Go NoCO, national and international visitors have easy access to discovery and Colorado-inspired adventures throughout northern Colorado – all within easy access to DIA and major travel corridors. They can learn how to kayak and white water raft in a controlled environment. They can immerse themselves in the horror film genre and celebrate the great films in history. They can golf on a PGA-inspired course and let go of the everyday and reconnect as a family in a customized indoor waterpark hotel.

Since the first application was submitted in February 2015, Go NoCO has added a new project in Estes Park with Grand Heritage Hotel Group – The Stanley Film Center.

Set at the footstep of Rocky Mountain National Park, on the grounds of one of America’s most notorious and iconic hotels, the Stanley Film Center will be the permanent home of the horror film genre. The Stanley Film Center will include a world-class 500-seat auditorium, creative classrooms, digital audio and film mixing studios, a sound stage, film discovery center and archive that will exhibit many of the crown jewel artifacts of the film industry, outdoor theater for films under the stars and more. Built and operated in partnership with a star-studded advisory board of filmmakers including Elijah Wood, Simon Pegg and others, the Stanley Film Center will draw thousands of industry leaders, aspiring artists and film enthusiasts, both young and old, from around to world, to educate, create and celebrate the world’s most popular film genre in Estes Park.

The Stanley Film Center joins three previously announced Go NoCO projects. Additional details on each Go NoCO project can be found in the Go NoCO Executive Summary and Application.

• The PeliGrande Resort and Windsor Conference Center: As northern Colorado’s only 4-star resort, the 300-room PeliGrande Resort and Windsor Conference Center celebrates the spirit of the state of Colorado. Pending the RTA award, the PeliGrande Resort has secured a promise from the PGA to bring its annual Champions Tour event to the soon-to-be built Raindance National Golf Course.

• The Indoor Waterpark Resort of the Rockies: From the originators of family friendly waterparks comes the first next-generation family-friendly indoor waterpark entertainment experience. The Indoor Waterpark Resort of the Rockies is easily accessible and visible from I-25. This extraordinary, one-of-a-kind attraction features a 75,000- square-foot indoor waterpark, 330 themed hotel room and suites, a 55,000-square-foot outdoor waterpark and more than 20,000 square feet of other indoor attractions in its Family Entertainment Center.

• The U.S. Whitewater Adventure Park: As one of four whitewater parks in the U.S. and designed to Olympic standards, the U.S Whitewater Adventure Park will bring the complete Rocky Mountain whitewater experience to Loveland and the Front Range with numerous outdoor challenges, world-class whitewater, climbing and other adventure experiences that promote healthy, active, outdoor lifestyles.

Meeting the RTA Requirements

All RTA projects must be unique and extraordinary, result in a substantial increase in out-of-state tourism through net new out-of-state visitors (NNOSV,) bring in a significant portion of sales tax revenue from non-Colorado residents and must prove that the projects cannot be developed in the foreseeable future without state sales tax increment revenue through the RTA.

• The projects are unique and extraordinary

o The Stanley Film Center will the first facility of its kind in the U.S. dedicated to the appreciation of horror films.

o The PeliGrande Resort is different than any other Colorado RTA project or existing attraction. It is the only resort in Colorado to have secured a promise from the PGA to bring its annual Champions Tour event to the soon-to-be-built Raindance National Golf course.

o The Indoor Waterpark Resort of the Rockies is the only purpose-built, ground-up designed destination attraction that centers around the indoor waterpark and other amenities to create a truly family friendly entertainment experience, surrounded by many synergistic venues.

o There doesn’t exist a facility comparable to the U.S. Whitewater Adventure Park in Colorado or the Rocky Mountain region. There are only three comparable facilities globally.

• The projects will result in a substantial increase in out-of-state tourism NNOSV. Go NoCO projects will result in 1.1 million total out-of-town-visitor days. Of that total, almost 423,000 are estimated to result from NNOSV.

• The projects must bring in a significant portion of sales tax revenue from non-Colorado residents.

o Go NoCO projects are expected to generate a total of 339,000 room nights at stabilization in 2021. More than half (52%) of that are attributable to NNOSV.

o Almost 62% of the anticipated sales tax revenue will come from out-of-state visitors with more than three-quarters of that total being attributable to NNOSV.

o Over the 30-year period § $189.4 million total sales tax revenue § $117.1 million (62%) from out of state visitors § $91.2 million (77.8%) from NNOSV § $86,119,375 in proposed RTZ • The projects cannot be developed in the foreseeable future without state sales tax increment revenue through the RTA.

o Go NoCO projects have a combined funding gap of $80.7 million that must be filled by local/state subsidy assistance to make the projects feasible. That gap comprises more than 24% of the total combined cost. Without state sales tax increment revenue, Go NoCO projects will not be developed in the foreseeable future.

“We wanted to bring the state an RTA application that wasn’t heavy on public investment and operation. Local governments are stepping up along with the state to assist with the gap financing needed to make Go NoCO a reality and achieve its tourism potential,” said Brady. “We are excited to continue discussions with the Economic Development Commission about the possibility of bringing these projects to life.”

The Go NoCO team will present its projects to the Colorado Economic Development Commission on Oct. 5. RTA grants are expected to be awarded in November/December 2015.

About Go NoCO

Go NoCO is a 501(c)(3) formed in response to the state of Colorado’s Regional Tourism Act. Backed by the city of Loveland, the town of Windsor, the town of Estes Park and Larimer County and several private partners including Water Valley Land Company and Grand Heritage Hotel Group, Go NoCO is already planning some exciting projects to draw a significant number of new regional, national and international tourists, while also bringing more value to northern Colorado.

Learn more at GoNoCO.org.

Media contact for interviews and images: Patrick Brady, Board Chair patrick.brady@efirstbank.com