A group of business leaders presented its strategic plan for downtown Loveland to the City Council on August 12. The 17-member group, brought together by Economic Development Director Betsey Hale, includes Mindy McCloughin, Loveland Chamber CEO, former mayor Gene Pielin, developer Troy Peterson and Harry Devereux of Home State Bank. The group hopes to create a Downtown Development Authority (DDA), similar to those in Fort Collins, Greeley and Longmont.
The creation of a DDA would require a vote of property owners within the boundaries of the district (the exact boundaries have not been defined) and the group hopes to schedule that vote to occur in February 2015. The role of the DDA would be foster economic development and revitalization. Among the many goals of the group is the establishment of a working relationship with area REALTORS and developers to highlight business and residential opportunities downtown.
Of course, plans such as this require funding. The group is asking the City Council to allocate $50,000 a year for 10 years. This request will be included in the process of creating the 2015 City budget, which is normally finalized by November. Another study session is planned for October.
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