Loveland council OKs $155M tax-increment plan for Centerra South

LOVELAND — On a 6-2 vote at 12:45 a.m. Wednesday, the Loveland City Council approved a tax-increment revenue-sharing agreement between the city and the Loveland Urban Renewal Authority to spur development of McWhinney Real Estate Services’ proposed Centerra South project.

Centerra South, a mixed-use commercial and residential project to be located south of U.S. Highway 34 and west of Interstate 25, is anticipated to cost approximately $1 billion to construct, according to city documents, and would require approximately $155 million in public infrastructure investment. To accomplish that goal, the land area designated for the project would need to be removed from…