Project Summary
The Ute Theater in Rifle, Colorado is a historic downtown icon that was built in 1947. The theater was a thriving community hub for decades, but eventually began to deteriorate. After almost 60 years of business, the owners were no longer able to operate the theater successfully and put the building on the market in 2006, where it received very little interest despite its location one block from the main business district. Concerned with the loss of an economic asset, the City of Rifle purchased the building for $317,000 and leased it back to the previous owners. Unfortunately, the building and business still struggled in its deteriorated condition.
In 2009, the New Ute Theater Society (NUTS) was established as a community non-profit that would work with the City to renovate the iconic asset. Knowing that the old building could present environmental challenges, CBP was engaged to help identify obstacles and access State resources. CBP assisted the City in conducting an assessment that identified extensive asbestos contamination that would need to be abated before the interior renovation could commence. After getting abatement quotes and construction plans created, the City issued a challenge grant to NUTS that offered $100,000 from the capital reserve fund if an additional $100,000 could be raised elsewhere. The lodging tax/visitor improvement fund also dedicated $60,000 to the effort but ultimately, an additional $2 million was needed for the project to become a reality, and no fundraising efforts could begin until the asbestos abatement was completed.
To solve this issue, CBP provided technical assistance to apply for Cleanup Funds from CDPHE. The City was awarded $60,738 from CDPHE for the asbestos abatement to be matched with $20,000 from the City for a total clean-up cost of $80,738. This funded a comprehensive remediation of the site, but perhaps most importantly, the State’s participation illustrated to other potential funding partners that the project was important to the community and essential to the efforts to reinvigorate the downtown.
In total, renovations of the theater cost roughly $2.5 million and would not have been possible without the support of major donors. The New Ute Theater opened to the public in May 2014, providing an economic, arts, and entertainment asset to area. Today, the theater remains owned and operated by the City of Rifle, and offers concerts, performances, films, celebrations, wedding receptions, and more to the community.
Financing and Deal Structure
The total cost of the restoration project was estimated to be $2.5 million and began with the City’s recognition of the historic building’s potential as an economic asset and catalytic redevelopment project. After purchasing the property, multiple entities partnered together to address the financial needs of the redevelopment by creating partnerships, garnering state support, fundraising, and collecting grant money. The City and other public entities were able to build critical momentum by issuing challenge grants, providing match funding, and identifying capital funds that could contribute to the efforts while also encouraging additional community-based fundraising.
By working with CBP, the project was able to identify potential environmental obstacles, conduct a hazardous materials assessment, and become a verified brownfields property, ultimately leading to $60,678 in Brownfields Cleanup Funds from CDPHE. The technical assistance from CBP and additional City support helped solidify State-level participation that ultimately led the project to meeting its full fundraising goals.
Quick Facts
Location: Rifle, Colorado
Project type: Clean-up and restoration of historic theater
Former Use: Deteriorated theater in Downtown core
Renovated Use: Community event center
Environmental Issues: Asbestos, pests, and severe dilapidation
Reuse Partners:
- Colorado Department of Public Health and Safety (CDPHE)
- Colorado Brownfields Partnership (CBP)
- City of Rifle Capital Fund, Federal Mineral Lease Direct Distribution and Visitor Improvement Fund
- Rifle Downtown Development Authority
- New Ute Theater Society
- Department of Local Affairs Energy and Mineral Impact Assistance Fund (EIAF)
- Gates Family Foundation
- Clough Family Foundation
- Adolph Coors Foundation
- Boettcher Foundation
- Union Pacific Railroad
- The American Shale Oil, Inc
Social Impact
- Revitalized a community theater that offers concerts and other performances.
- Draws attendees to energize the downtown area and help support the local economy.
Economic Impact
- Hosts events that result in increased spending at local restaurants, bars, hotels, gas stations, etc.
- For every dollar spent by the Theater on a yearly basis, $12 is spent in the local economy. With a 2022 budget of $611,000, the New Ute Theater will indirectly create an additional $7.3 million of spending for the local economy.
- Increased the theater’s property value from $357,530 to over $2 million.
- Created several local jobs with one full-time director and up to 15 part-time employees.
Help for your project
Regardless of where you are in the process, the Colorado Brownfields Partnership (CBP) will help you learn about brownfields assistance for your community. We provide many types of support to communities interested in redevelopment of potentially contaminated sites. Contact info@cobrownfieldspartnership.org for more information.