Longmont Council Approves Debt Plan for Mall

The Longmont City Council approved a plan to allocate $27.5 million toward redeveloping the Twin Peaks Mall. The investment will come in the form of city-issued debt that would be repaid over 25 years. Longmont expects to receive about $92 million in new tax revenue over that quarter-century, not including the repayment of the debtContinue reading “Longmont Council Approves Debt Plan for Mall”

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”

Twin Peaks Mall Revitalization Takes Step Forward

The City Council approved a request by the owners of the Twin Peaks Mall to seek approval to create a metropolitan district. The creation of a metropolitan district will give NewMark Merrill the ability to issue bonds and levy additional taxes on the property to pay for improvements. The 58-acre district will include everything withinContinue reading “Twin Peaks Mall Revitalization Takes Step Forward”