Longmont: Council Adopts 2015 Budget

The City Council formally adopted its 2015 budget last week. The projected operating budget is $275.85 million, which is $6.41 million less than the 2014 budget. Water and sewer rates will increase. City Manager Harold Dominguez writes that, “While this most certainly is not a budget that is flush with resources, it is one inContinue reading “Longmont: Council Adopts 2015 Budget”

Longmont: Mall Financing Decision Not Made in Haste

Recently the Longmont City Council voted recently to use a financing tool called certificates of participation (COP) to help fund the redevelopment of the Twin Peaks Mall. But in spite of claims made by some critics, the decision was discussed and analyzed over a year before the vote. The initial decision was made by the CityContinue reading “Longmont: Mall Financing Decision Not Made in Haste”

Longmont Mall Redevelopment to Start This Summer

Twin Peaks Mall will be demolished this summer to make way for The Village at the Peaks shopping center. Fort Collins-based NewMark Merrill Mountain States received the title to the Dillard’s department store building on Tuesday, Feb. 18. Dillard’s had held veto power over any redevelopment at the mall. The Longmont Urban Renewal Authority inContinue reading “Longmont Mall Redevelopment to Start This Summer”

City of Longmont Reluctantly Invokes Eminent Domain

In a 6-1 vote the Longmont City Council approved the use of eminent domain to move forward with the Twin Peaks Mall redevelopment. Councilwoman Sarah Levison cast the dissenting vote, saying she had read some of the U.S. Supreme Court ruling on the Kelo v. City of New London case and did not feel eminentContinue reading “City of Longmont Reluctantly Invokes Eminent Domain”

Use of Eminent Domain Possible but Unlikely in Longmont

The City Council could use its condemnation powers to force Dillard to sell its property in the Twin Peaks Mall but that is the last resort. Thanks to the work of City Manager Harold Dominguez and Economic Development Director Brad Power, who are facilitating an agreement between New Mark Merrill Mountain States and Dillard’s andContinue reading “Use of Eminent Domain Possible but Unlikely in Longmont”

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”

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”

Council Discusses Priorities at Retreat

The purpose of the City Council’s annual retreat is to set its agenda for the year. Some of the issues the Council discussed at its retreat in April (which was probably delayed so new City Manager Harold Dominguez could be present) are ongoing and several are new. Oil and gas regulations, the St. Vrain RiverContinue reading “Council Discusses Priorities at Retreat”