Legislative Update

HB 1260 “Wildfire Tax Credit” CAR Position: Support This bill was amended because of its fiscal note. Instead, the amended version would give property owners double deductions for wildfire mitigation efforts. HB 1348 “Urban Redevelopment Fairness Act” CAR Position: Oppose This bill is cosponsored by many Northern Colorado legislators and seems likely to pass. TheContinue reading “Legislative Update”

Littleton Voters Will Have to Approve Urban Renewal

Littleton voters approved ballot measures reforming urban renewal in the City following a special election, making it the only Colorado municipality to require voter permission for urban renewal. Voters will have to approve the use of tools such as tax increment financing or eminent domain. The initiative’s supporters, Your Littleton Your Vote, argued that LittletonContinue reading “Littleton Voters Will Have to Approve Urban Renewal”

Loveland: REALTORS Support Downtown Development Authority

The Board of Directors of Loveland Berthoud Association of REALTORS voted unanimously to support the creation of a downtown development authority (DDA) in Loveland. In addition, the Board approved the use of local issues mobilization funds to provide a campaign donation to ” Yes to Downtown Loveland,” the committee advocating on behalf of the DDAContinue reading “Loveland: REALTORS Support Downtown Development Authority”

Legislature To Revisit URA Bill

Last year the Governor vetoed a bill that would require cities to share tax increment financing (TIF) revenues used to finance urban renewal projects with other government entities such as cities and school districts. However, CAR’s Vice President for Public Policy, Ted Leighty, says county lobbyists are already planning to ensure that the bill isContinue reading “Legislature To Revisit URA Bill”

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 atContinue reading “Larimer: County, Cities Agree to Study TIF”

Boulder Legislator Wants to Change TIF Regulations

Rep. Dickey Lee Hullinghorst, (Boulder), plans to introduce a law to revise tax increment financing (TIF), which is often used to create or expand businesses, particularly in urban renewal districts. Hullinghorst wants to allow all the taxing jurisdictions, school districts for example, to become involve in the TIF decision-making process. She suspects some projects thatContinue reading “Boulder Legislator Wants to Change TIF Regulations”

Loveland Council, Commissioners Approve Tax Sharing Agreement

The Loveland City Council and Larimer County Commissioners approved an agreement to share revenue as part of a tax increment financing (TIF) package for the North Catalyst project in the amended Block 41-Finley’s Addition Urban Renewal Plan Area. North Catalyst includes a five-story, 72-unit mixed-use project called Gallery Lofts, which is being developed by BrinkmanContinue reading “Loveland Council, Commissioners Approve Tax Sharing Agreement”

Fort Collins Council Approves Mall Financing

The Fort Collins City Council acting as the Urban Renewal Authority approved several resolutions to approve the public financing mechanisms needed to renovate the Foothills Mall. The City will use a complex package of funding instruments, two of which impact property taxes and two affect sales taxes.  The creation of a metropolitan district means increasedContinue reading “Fort Collins Council Approves Mall Financing”

A Tale of Two Malls – Longmont’s Twin Peaks, Fort Collins’ Foothills and Eminent Domain

Mall revitalization is a common priority for cities in our region. Longmont and Fort Collins are both in the process of updating aging malls generating declining sales tax revenues. Both malls are part of urban renewal districts, making them eligible for tax increment financing (TIF) a tool that helps developers pay for public improvements associatedContinue reading “A Tale of Two Malls – Longmont’s Twin Peaks, Fort Collins’ Foothills and Eminent Domain”