The City Council approved an ordinance that provides $175,000 in funding for consultants to develop the application for the Regional Tourism Authority to the State Economic Development Commission. The funding will be used to hire consultants to complete a Northern Colorado Regional Tourism Act application for the Council’s consideration.
The Regional Tourism Act (RTA) was created by enabling legislation and led to a program managed the State of Colorado Economic Development Commission. The program is designed to provide financial support for the development of regional tourism attractions and associated amenities. This goal of which is to attract more out of state visitors and also increase visitors spending.
The RTA provides for the establishment of an authority, which will use the State of Colorado sales tax increment collected in a designated RTA zone for the purpose of financing eligible projects. Larimer County, the City of Loveland and Town of Windsor are partners in a joint RTA application. The application effort will be led by a private non-profit entity called Go NoCo.
Potential projects identified for the RTA include a golf course and ice rink in Water Valley, the Sylvan Dale Guest Ranch (which was severely damaged by last year’s flood) as well as a Centerra natural history and sportsmen’s museum.
Private partners are Centerra McWhinney and Water Valley, Martin Lind.
Total project construction costs are estimated over $190 million.