The 1stBank Center, a multi-purpose entertainment and sports arena in Broomfield, will close indefinitely in November after a unanimous Broomfield City Council vote.

The event center, located just off Highway 36 at 11450 Broomfield Ln. in Broomfield, opened in Nov. 2006 and will cease operations on Sept. 30.

The Broomfield Urban Renewal Authority (BURA), which owns the center, will terminate their management and operations agreement with PEAK Entertainment, LLC. by Nov. 30.

The center was originally constructed for $45 million, financed by an issuance of $59.8 million in bonds, then never profited, city council members said at Tuesday’s meeting. 

The bond still has $34.2 million in outstanding balance.

BURA also pulled additional funds from other zones to help pay off bonds and will have paid about $135 million by the time they pay off the event center bond, according to the termination proposal.

Since it opened in 2006, the center has not approached the estimated 180 to 190 annual events it was built for, according to the proposal.

When the center was originally built, Broomfield Sports and Entertainment, LLC (BSE) managed operations. In 2009, BSE terminated its operating agreement and PEAK Entertainment, LLC took over. 

The center’s busiest year was 2016, when 33 concerts took place at the venue. The number of concerts declined each year following, with 27 in 2017, 17 in 2018, 13 in 2019, five in 2020 and six in 2021, with the significant drops in the last two years due to COVID.

In 2023, only ten concerts have happened at the center as of the proposal date and only three more were scheduled over the next six months. 

Public safety issues at the center’s events required additional expenses, having 738 medical calls to the center since 2016, according to the proposal.

The high rate of medical calls come largely from electric dance music (EDM) shows, according to the proposal.

The most recent EDM show in February resulted in 79 medical responses, 8 indecent exposure citations, multiple drug-related arrests and a number of neighborhood noise disturbance complaints, the proposal said.

BURA spent more than two years exploring other options for the center, such as converting it into a convention or exhibition center or retail or restaurant hall. However, financial and space considerations made alternative uses difficult, according to BURA.

Future plans call for BURA and city council to likely refinance the event center bonds, demolish the property and sell the land for redevelopment.