Denver Theater Owners Frustrated by Lengthy DDA Loan Process

Blair Russell and Steve Wargo say the city's bureaucracy delayed the opening of their immersive theater by months.

Mar. 21, 2026 at 2:54am

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Blair Russell and Steve Wargo, the owners of the new Denver Immersive Repertory Theater, faced a frustrating and drawn-out process in securing a $400,000 loan from the Denver Downtown Development Authority (DDA) to help launch their business. The duo said the back-and-forth with city staff, redundant questioning, and lack of clarity on the timeline pushed back their theater's opening by at least two months. While they ultimately received the loan on better terms than they could get elsewhere, Russell and Wargo said the ordeal highlighted issues with the DDA's process for distributing its $570 million in bond funding intended to revitalize downtown Denver.

Why it matters

The DDA was tasked with using the $570 million in bond funding to help revitalize downtown Denver, including supporting new businesses like the Denver Immersive Repertory Theater. However, the experience of Russell and Wargo suggests the DDA's process for distributing these funds may be overly cumbersome and lacking in clear communication, potentially hindering the authority's ability to efficiently support downtown businesses and spur economic recovery.

The details

Russell and Wargo applied for DDA funding in early 2025 to help with the $750,000 build-out of their immersive theater location. They were under the impression the award would be a grant, but ultimately received a 10-year, 3% interest loan. The process of securing the loan took months, with the duo saying city officials seemed unsure of the proper procedures. This delayed the theater's opening by at least two months, as Russell and Wargo had to use their own funds to move forward with construction. Bill Mosher, Denver's chief projects officer and a primary architect of the DDA, acknowledged the process was "too cumbersome" and said the DDA will work to be more flexible and have clearer guidelines going forward.

  • Russell and Wargo applied for DDA funding in early 2025.
  • The DDA announced in July 2025 that Russell and Wargo's theater, along with nine other projects, would be awarded a combined $100 million.
  • The DDA did not actually source the funding to be awarded until November 2025, when it received a $160 million loan from PNC Bank.
  • Russell and Wargo finally received their $400,000 loan from the DDA in February 2026.
  • The Denver Immersive Repertory Theater is now set to open this summer, at least two months later than originally planned.

The players

Blair Russell

Co-owner of the Denver Immersive Repertory Theater.

Steve Wargo

Co-owner of the Denver Immersive Repertory Theater.

Bill Mosher

Denver's chief projects officer and a primary architect of the Denver Downtown Development Authority (DDA).

Jevon Taylor

CEO of Green Spaces, another business that received DDA funding.

Mike Johnston

Mayor of Denver.

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What they’re saying

“Some of them, it didn't feel like they even knew who we were or what we were asking for.”

— Blair Russell, Co-owner, Denver Immersive Repertory Theater

“How do we plan to open a business when we have no idea how many more steps this is going to take, what the process is and what they really, truly expect the timeline is?”

— Steve Wargo, Co-owner, Denver Immersive Repertory Theater

“I cannot refute, disagree, or say anything they said is not true.”

— Bill Mosher, Denver's Chief Projects Officer, Denver Downtown Development Authority

“It was too cumbersome, and we need to be more flexible.”

— Bill Mosher, Denver's Chief Projects Officer, Denver Downtown Development Authority

What’s next

The DDA has said it will work to streamline its process for distributing funds, including having a primary point of contact and clearer guidelines, in order to better support downtown businesses like the Denver Immersive Repertory Theater.

The takeaway

The experience of Russell and Wargo highlights the need for the DDA to improve its communication and streamline its processes for distributing the $570 million in bond funding intended to revitalize downtown Denver. Overly cumbersome bureaucracy risks hindering the authority's ability to efficiently support new businesses and spur economic recovery.