Triview Metropolitan District’s board voted unanimously on Oct. 22 to share part of its sales tax with Costco for 12 years if the retailer completes a land purchase and wins the town’s approval to build in Monument. The district’s manager puts Costco’s share at about $15 million of the roughly $30 million the store is projected to bring the district over that time.
The board of Triview Metropolitan District approved Resolution 2026-12, an economic development incentive agreement with Costco Wholesale Corporation, at its special meeting on Thursday, Oct. 22, The Tribune reported. The vote was unanimous. Jim McGrady, the district’s manager, told the paper the next day that Costco and the district would share part of the sales tax the store generates for 12 years.
On the district’s preliminary projections, McGrady said, that sales tax would come to about $30 million over the 12 years, with Costco receiving about $15 million and Triview keeping the rest. After 12 years the district would keep its full share. The agreement takes effect only if Costco completes its purchase of the land and obtains the town’s development approvals, The Tribune reported.
Triview had not posted the resolution, the agreement or minutes of the meeting by 11 a.m. on Sunday, Oct. 25. Its website carries only the meeting’s two-page agenda. This year the district has posted minutes one to five months after its meetings, and adopted resolutions in as few as five days.
The site
The proposed location is the southwest corner of Higby Road and Jackson Creek Parkway, east of Interstate 25, according to The Tribune and the Town of Monument’s development map, which outlines 22.6 vacant acres there. County assessor records list the owner as Jackson Creek Land Co. LLC. The parcel lies inside Triview’s boundaries.
Costco has not applied to build there. Town Manager Madeline VanDenHoek confirmed on Oct. 23 that no formal development application had been filed, The Tribune reported, and the town’s development map still lists Costco as a pre-application. The land is zoned Regency Park Planned Industrial. Dan Ungerleider, the town’s planning director, told the paper that a Costco there would need “a formal public review process,” with hearings before the Planning Commission and the Town Council.
How the terms compare
Triview’s incentive policy, adopted in June 2025, lets the district share up to one of its 1.5 percentage points of the town’s sales tax, roughly two-thirds of its share, for as long as 25 years. The remaining half point is set aside for renewable water.
The district’s earlier incentive, for Legacy at Jackson Landing, the Target-anchored center three-quarters of a mile south, was approved in April 2025, before the policy existed. The draft agreement in the board’s packet for that vote gave the developer and Target 67 percent of the district’s sales tax from the center for 25 years, along with fee rebates and $3.5 million in escrow for road work. A district spreadsheet projected $17.1 million in shared sales tax over that period.
On the figures McGrady gave, Costco’s agreement would run 12 years instead of 25 and share about half of the district’s projected take instead of 67 percent.
The sales tax at stake
Of Monument’s 3.5 percent sales tax, Triview receives 1.5 percentage points on sales inside its boundaries and the town keeps 2. The agreement covers only the district’s portion, The Tribune reported.
Jason Gross, the board’s president, told The Tribune that directors had reviewed the numbers under low and high sales forecasts before voting, and that the revenue could help the district avoid raising taxes on residents. McGrady told the paper the district has enough renewable water to serve the store and the rest of its undeveloped land.
The district’s projection works out to about $2.5 million a year from the store before any sharing, by the Independent’s calculation. Triview budgeted $2.77 million from all of its sales tax for 2026. If the $30 million is the district’s full 1.5-point share, the town’s 2 points on the same sales would come to about $40 million over the 12 years, none of it shared with Costco.
Sources & further reading
The Independent’s own coverage: Triview Considers an Incentive Agreement with Costco on Thursday, the preview, with the site map and the district’s policy · Not an HOA: The Government That Runs Much of Monument, on what Triview is and how it is funded · Monument’s Target Has Its Permit. Construction Has Started., on Legacy at Jackson Landing
Triview record: Special meeting agenda, Oct. 22, 2026 · Resolution 2025-08, Economic Development Incentive Policy · Board packet, April 17, 2025, with the Legacy Development Partners draft agreement · Legacy development spreadsheet · 2025 Annual Report, with the 2026 budget · Board documents and notices
Town record: Current Development Review Projects map · Planning Department status report, Aug. 31, 2026
County record: El Paso County Assessor, parcel 7100000457
Other coverage: The Tribune, “Triview approves conditional incentive agreement to attract Costco,” by Benn Farrell, Oct. 23, 2026 · KOAA first reported the Costco pre-application on June 19, 2026
Methodology
The vote, the length of the agreement, the dollar projections, the conditions and the remarks by McGrady, Gross, VanDenHoek and Ungerleider are as reported by The Tribune on Oct. 23. Triview had not published the resolution or the agreement when this article was written, and the Independent has not seen either. The district’s website was last checked at 11 a.m. on Oct. 25.
The annual figure ($30 million divided by 12) and the town’s figure ($30 million times 2 divided by 1.5) are the Independent’s calculations. The town’s figure assumes the reported $30 million is the district’s whole 1.5-point share of the store’s taxable sales; if it is only the portion eligible for sharing, the town’s figure would be larger. Neither the district nor the town has published its own projection of the town’s share. The 2026 budget figure is the “Sales Tax/IGA/Town” line in Triview’s 2026 budget. The Legacy terms come from the draft agreement in Triview’s packet for its April 17, 2025 meeting; the signed agreement has not been published. The site comes from the town’s development map, whose Costco outline matches county parcel 7100000457; the distance between the two sites, about 0.75 mile edge to edge, was measured between the town’s outlines of each.
Using this reporting? Credit The Monument Independent and link to this article: https://monumentindependent.com/government/triview-approves-costco-incentive/. Our guidelines are at Using Our Reporting.
