Larimer: County, Cities Agree to Study TIF

Larimer County and its cities will share the cost of funding a study to establish a model for measuring the effects (both negative and positive) of Urban Renewal Authorities (URAs) and their use of tax increment financing (TIF). According to Loveland City Manager Bill Cahill, “With all of the controversy about URAs and TIF, both at the local level and in the legislature, there is little agreement on facts about the financial effects of URAs and TIF.” A fiscal consultant will be hired to build a model that will be adaptable to various kinds of URAs. The three largest participants (Larimer County, Loveland and Fort Collins) are contributing $30,000 each for the work, with the smaller jurisdictions contributing less. Cahill notes that the study “will provide a foundation for future URA work by area jurisdictions.”