Mayor Mike Johnston spent Tuesday morning doing victory laps for the Broncos’ decision to stay in Denver.
The team announced a complex deal to build a new stadium on the city’s Burnham Yard site, which will also open up the current Empower Field at Mile High site for development in the 2030s.
On the giant table in the mayor’s office were two boxes of orange-sprinkled donuts. He was thrilled to finally have some good news in a city that has been struggling with federal funding threats, a $250 million budget hole and layoffs.
Denverite caught up with the mayor to discuss the new stadium, development projects related to the move, and ticket prices for season holders.
Among other news: He confirmed that the city would seek to demolish the current stadium at Mile High, making way for a major redevelopment project on that site.
Meanwhile, he claimed the new stadium could increase the team’s economic impact to $1 billion a year, as its planned retractable roof and accompanying mixed-use development could allow year-round events and activity. Negotiations over Burnham Yard, he said, began more than two years ago.
The Broncos say they’ll build the new stadium with private funding, though the city could pay for infrastructure, such as bridges and roads, around the site. The team also could take advantage of tax-increment financing, a form of tax subsidy, to cover some project costs.
