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.
Construction on the Foothills Mall will begin this month now that the City of Fort Collins and Walton Foothills Holdings VI LLC have signed a redevelopment agreement to clean up blight and improve the property’s public infrastructure.
The City Council and the Fort Collins Urban Renewal Authority Board of Directors on Tuesday approved the final redevelopment agreement with the mall developer. The agreement was signed this week and is available at www.fcgov.com/foothillsmall.
The mall will remain open during construction. Site preparation work will begin within the next several weeks on the property’s perimeter, adjacent to College Avenue.
City Council on January 14 approved an agreement with Walton Foothills Holdings VI for redevelopment of the Foothills Mall.
In May, the Council approved a $53 million public assistance package including a $45 million base financial assistance package that will revitalize the Foothills Mall and restore essential sales tax revenue. The financial package includes an $8 million investment in City infrastructure, including a new Foothills Activity Center and an underpass for pedestrians and bicycles under College Avenue that connects the mall to the Mason Street Corridor and MAX Bus Rapid Transit.
Alberta returned to the Planning and Zoning Board this fall with a proposal to reduce the overall square footage of the project. That altered the financial agreement, which requires Council approval. The Council approved that revised financial package on January 14.
To receive updates on the Foothills Mall redevelopment, sign up for an email newsletter at fcgov.com/foothillsmall. General information about the Fort Collins Urban Renewal Authority – including a list of Frequently Asked Questions - is available at renewfortcollins.org.
On October 15, the Fort Collins City Council considered and approved the authorization of a loan agreement between the City and the URA for the Summit TIF.
The URA Board of Commissioners held a hearing on October 15, 2013 immediately following the City Council meeting. Items on the agenda included:
The Fort Collins City Council on October 1 adopted the Midtown Plan, which sets guidelines for the redevelopment of one of the city's most important urban cores.
The City Council on June 18, meeting as the Board for the Urban Renewal Authority, approved structure for a new Storefront Improvement Program for businesses in the North College Plan Area. The purpose of the program is to encourage the voluntary rehabilitation of commercial buildings, improvements and conditions within the North College Urban Renewal Area.
Click for the full guidelines, and check back for updates.
Click here for the complete application. Applications must include an introductory interview with Tom Leeson, Redevelopment Manager at the Urban Renewal Authority. To schedule your interview, call 970-416-2231.
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