Agenda Date: 02/17/2015
Subject:
Title
Resolution approving a substantial modification to the Columbine Square Urban Renewal Plan.
Body
Presented By:
Jim Rees, Executive Director of LIFT
POLICY QUESTION:
Does city council support the substantial modification to the Columbine Square Urban Renewal Plan?
BACKGROUND:
On November 4, 2014 the Littleton City Council adopted the Columbine Square Urban Renewal Plan (Plan). The Plan included the use of tax increment financing (sales and property tax) but stipulated that only the property tax increment be collected starting from the date of the adoption of the plan and extending for a period of 25 years. Subsequently, the city council adopted the Littleton Boulevard and the North Broadway Urban Renewal Plans, which authorized the collection of sales and property tax increments generated from within the entire URAs from the time of plan adoption for 25 years. It is the recommendation of Littleton Invests for Tomorrow (LIFT), the city's urban renewal authority, that the Columbine Square Urban Renewal Plan be amended to reflect the same conditions that apply to the Littleton Boulevard and North Broadway Urban Renewal Areas.
LIFT requests the council approve the substantial modification to the Columbine Square Urban Renewal Plan. The Plan area and the goals and objectives are unchanged from the original Plan. The area consists of 35 acres located generally in the western part of the city south of West Belleview Avenue between South Lowell and South Federal Boulevards. (Figure 1)
The stated purpose of the Plan "is to reduce, eliminate and prevent the spread of blight and to stimulate growth and investment within the Area boundaries. To accomplish this purpose, the Plan is intended to promote local objectives expressed in adopted community plans and advance the priorities of the Comprehensive Plan."
The approval and adoption of the substantial modification to the Columbine Square Urban Renewal Pla...
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