Big Red Development LLC, Kentro Group awarded Private Activity Bonds

Published on July 01, 2025

The Weld County Board of Commissioners awarded two Private Activity Bonds (PABs) this week. Big Red Development LLC received $7,692,568 to develop a 129-unit affordable housing complex in Firestone to house approximately 300 low- and moderate-income residents. Kentro Group, in partnership with the Town of Johnstown, received $3,954,897 to develop Waggoner Crossing, a 135-unit affordable apartment complex.

“We are happy to support these organizations in their housing development endeavors,” Commissioner Chair Perry Buck said. “This funding mechanism allows Weld County to support critical initiatives that might otherwise be challenging to finance.”

PABs are a crucial tool for local businesses and nonprofits to secure financing for important development projects. Authorized by the federal government and allocated to counties and municipalities, PABs offer tax-exempt financing to support projects that enhance community infrastructure, affordable housing and economic growth.

Importantly, Weld County acts as a pass-through issuer, meaning no county tax dollars are involved in the process. The county does not assume any debt or financial responsibility, ensuring that taxpayers are not impacted. By leveraging this federal program, developers benefit from lower borrowing costs, as the interest on these bonds is exempt from federal income tax.

For more information about PABs, visit the Weld County Department of Finance and Administration webpage.