Denver Legistar banner

If you are having trouble viewing the videos, Flash is no longer natively supported in browsers, but can still be enabled. Please click on the appropriate link for instructions.

Google Chrome
Mozilla Firefox
Internet Explorer

Share to Facebook Share to Twitter Bookmark and Share
File #: 22-0590    Version: 1
Type: Bill Status: Passed
File created: 5/16/2022 In control: Finance & Governance Committee
On agenda: 6/20/2022 Final action: 6/20/2022
Title: A bill for an ordinance approving a proposed cooperation agreement between the City and County of Denver and Denver Urban Renewal Authority to establish, among other matters, the parameters for tax increment financing with incremental sales and property taxes within the 3015 East Colfax Urban Redevelopment Area. Approves a cooperation agreement with the Denver Urban Renewal Authority for the 3015 East Colfax Urban Redevelopment Area to establish, among other matters, the parameters for tax increment financing with incremental sales and property taxes in Council District 9 (202262989-00). The last regularly scheduled Council meeting within the 30-day review period is on 6-27-22. The Committee approved filing this item at its meeting on 5-24-22.
Indexes: Zach Rothmier
Attachments: 1. BR22-0590 Coop Agreement Ordinance Request 3015 E Colfax - As Submitted, 2. 22-0590 Filed Bill_Denver Urban Renewal Authority - Cooperation Agreement BTN REDLINE 2022-05-26, 3. 22-0590 Agr_DenverUrbanRenewalAuthority, 4. 22-0590 Filed Bill_Denver Urban Renewal Authority - Cooperation Agreement BTN REDLINE 2022-05-26, 5. 22-0590 - signed, 6. 22-0590 For an ordinance approving a proposed cooperation agreement between the City

Other/Miscellaneous Request Template (Appointments; ROW; Code Changes; Zoning Action, etc.)

 

Date Submitted: 5-16-2022

 

Requesting Agency: Department of Finance/ Denver Urban Renewal Authority

                               Division:

 

Subject Matter Expert Name: Tracy Huggins, DURA

              Michael Kerrigan, Dept of Finance                                              
Email Address:
Thuggins@renewdenver.org

                Michael.Kerrigan@denvergov.org                                                                   
Phone Number:

 

Item Title & Description:

(Do not delete the following instructions)

These appear on the Council meeting agenda. Initially, the requesting agency will enter a 2-3 sentence description. Upon bill filling, the City Attorney’s Office should enter the title above the description (the title should be in bold font).

 

Both the title and description must be entered between the red “title” and “body” below.  Do not at any time delete the red “title” or “body” markers from this template.

title

A bill for an ordinance approving a proposed cooperation agreement between the City and County of Denver and Denver Urban Renewal Authority to establish, among other matters, the parameters for tax increment financing with incremental sales and property taxes within the 3015 East Colfax Urban Redevelopment Area.

Approves a cooperation agreement with the Denver Urban Renewal Authority for the 3015 East Colfax Urban Redevelopment Area to establish, among other matters, the parameters for tax increment financing with incremental sales and property taxes in Council District 9 (202262989-00). The last regularly scheduled Council meeting within the 30-day review period is on 6-27-22. The Committee approved filing this item at its meeting on 5-24-22.

body

 

Affected Council District(s) or citywide? Council District  9

 

Executive Summary with Rationale and Impact:

Detailed description of the item and why we are doing it. This can be a separate attachment.       This ordinance approves a Cooperation Agreement between the City and County of Denver and the Denver Urban Renewal Authority (“DURA”) for the sales and property tax increment areas within the 3015 East Colfax Urban Redevelopment Area. The 3015 East Colfax Urban Redevelopment Area is approximately 1 acre containing three parcels situated along East Colfax Avenue between Milwaukee Street and St. Paul Street.

       DURA, in coordination with the City’s Department of Finance and Department of Community Planning & Development, is seeking to establish an Urban Redevelopment Area (“Area”) to support redevelopment of the Area through the approval of an Urban Redevelopment Plan (the “Plan”).  Staff of the City and DURA has agreed to an Urban Redevelopment Plan and Cooperation Agreement for the creation of the 3015 East Colfax Urban Redevelopment Area and the use of sales and property tax increment financing by DURA, subject to City Council approval.

       The Cooperation Agreement establishes the parameters for sales and property tax increment financing for the purpose of financing projects for the benefit of the Area following approval by City Council. 

 

Address/Location (if applicable): The 3015 East Colfax Urban Redevelopment Area is approximately 1 acre containing three parcels situated along East Colfax Avenue between Milwaukee Street and St. Paul Street. The Denver Urban Renewal authority is located at 1555 California St., Suite 200, Denver, CO  80202.

 

Legal Description (if applicable):

 

Denver Revised Municipal Code (D.R.M.C.) Citation (if applicable):

 

Draft Bill Attached?