Loveland seeks voter OK for downtown authority

LOVELAND – Campaigning began this week for voter approval of a Downtown Development Authority for the city of Loveland, following Tuesday night’s vote by the city council to put the issue on the Feb. 10 ballot as Question 1.

The council vote also set aside up to $5 million in funding for the authority over 10 years, to provide marketing, redevelopment projects and operations, according to the campaign’s website, www.lovelanddda.org.

Colorado statutes permit the creation of such authorities that can use tax-increment financing to spur redevelopment in designated business districts.

Boundaries of the Loveland DDA would be roughly 20th Street to the north, southeast Eighth Street to the south and a few blocks either side of U.S. 287, which in that area is divided between two parallel one-way streets a block apart – northbound Lincoln Avenue and southbound Cleveland Avenue.

Fort Collins formed a Downtown Development Authority in 1981 and Longmont established one the next year.

on Facebook on LinkedIn