The Fort Collins Urban Renewal Authority Board of Directors have postponed their meeting to consider an amendment to the redevelopment agreement with the developer of the Foothills Mall until May 6, 2014.
See details of the proposed amendment at fcgov.com/cityclerk.
The Urban Renewal Authority is in place to identify and revitalize areas of the city deemed blighted and provide a funding mechanism to encourage redevelopment. The main funding tool is Tax Increment Financing (TIF) generated through property taxes. The plan areas capture TIF for a period of 25 years. Qualified projects can receive a portion of property tax generated to be allocated back into the project for the community’s benefit. Public and private investment in the areas further promotes development and redevelopment in a plan area, such as North College or Midtown.
Storefront Improvement Program (North College)
Midtown Plan Area approved
Prospect South TIF district created
The Summit on College
Northeast College Corridor Outfall Project approved
Revised Policies and Procedures
Kaufman and Robinson (amended)
Rocky Mountain Innosphere
Union Place (2012 update:project dissolved)
Kaufman and Robinson
Foothills Mall Plan Area dissolved
North College Marketplace
Foothills Mall Plan Area created
Valley Steel and Wire Company
North College Plan Area created
Urban Renewal Authority created