[{"_1":2,"_87":-5,"_88":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},"mediaId",6454825,"mediaKeyId","5857915-7e4b64280d68b8e80979f8b7382f714e","parentId",5857915,"title","Pueblo Urban Renewal Authority asks city to consider using Main Street garage to satisfy $14.4M RTA loan","audioSeconds",2754,"startMs",4981000,"endMs",7735000,"viewUrl","/Search/View?dp=1&key=5857915-7e4b64280d68b8e80979f8b7382f714e&start=4981&end=7735","thumbnailUrl","https://assets.pipeline.soar.com/5857915-7e4b64280d68b8e80979f8b7382f714e/thumbnail_4981000.jpg","articleUrl","/articles/6454825/Pueblo-City/Pueblo-County/Colorado/Pueblo-Urban-Renewal-Authority-asks-city-to-consider-using-Main-Street-garage-to-satisfy-144M-RTA-loan","mediaUrl","https://secure.pipeline.soar.com/6454825-4668dcfcfc65a9361ca3db0080cf41c3/orig.mp4?Expires=1771204167&Signature=ZIQNMm6SZl6THGtgGceLdry-yadqtVgpEw2fq-RUhurtikip6yAdGoVgNK~sMFkqcE5uiK~Jx0EA8k2bDL01Dy0nMAsBhnE296GwgG1aArMpkx1u9Ss~96Pm2VZedqyZsQAJmhXbS6vXu4aXCPa3kMA5~5QyWI6EcCeJrei5Fpx7fnqZZJhW3rlaPyKGDSrMu3Wsqqx1Jv8RKCybIHxHAZ8w8QA-0DZLr2JqNzNmSnWvyCiwJkei70cXjQu5f4uIdkt0nsS5Z7GSv~PQzHqrxcDdZwfPHqu8lPct6dha-yrhRcP5R-PRZzEoP7zWecVKJcBgNQWg~O3Xq7PNFqC5FQ__&Key-Pair-Id=KUT5TJCACFTXG","author","Pueblo City, CO","date","2025-09-29T21:36:25Z","article","Pueblo Urban Renewal Authority (PURA) representatives told the City Council Executive Committee on Sept. 25 they are asking the city to consider accepting the Main Street parking garage as satisfaction of a $14.4 million loan PURA received to support RTA‑eligible projects, including expansion work at the convention center and other downtown investments.

Cherish Deague, speaking for PURA, said the state sales‑tax increment from the RTA grant “is eligible to pay for interest only on those loans. It is not eligible to pay the principal.” She said the original local contribution consisted of two parts — $2.2 million and $12.2 million, totaling $14.4 million — with the smaller amount treated as a non‑interest promissory match for HARP improvements and the larger amount bearing interest and secured by a deed of trust on the convention center building.

PURA staff said the Main Street garage was built with TIF, New Markets Tax Credits and other public financing, is now free and clear of those credits, and based on internal estimates and an older appraisal PURA believes the garage could satisfy the full $14.4 million obligation. PURA requested council consider transferring ownership of the garage to the city “in satisfaction of this debt” and noted there are existing leases that generate roughly $86,000 a year (approximately $32,000 in general leases and $54,000 tied to an AT&T parking arrangement), a 60/40 split of lease revenue and operating costs between PURA and the city, and potential additional revenue from antenna leases.

Chris DeLuca, a PURA board member, said the board’s aim is to “clean up the wrongs that were done years ago,” and framed the request as a way to resolve an obligation PURA believes it cannot repay in cash. DeLuca added that transferring a municipal asset to satisfy the loan could free RTA funds now used for interest payments (PURA reported $1.7 million in interest collected to date and said annual interest runs about $366,000 at 3%) for other eligible projects, including remaining RTA‑eligible items such as the aquatic center.

Council members asked for more information before any decision. Questions included: the timing and content of a current appraisal of the garage, annual revenues the garage could produce under different leasing or paid‑parking scenarios, the mechanics for transferring an asset into the city’s half‑cent sales‑tax fund and whether a transfer would actually reimburse that fund in cash or only change accounting for city assets. Councilors noted the deed of trust on the convention center was the original security, that the city has received interest payments to date, and that any transfer or foreclosure remedy would require legal review and clear repayment accounting to the half‑cent fund (the dedicated local sales‑tax fund used for economic development projects).

City staff and council suggested next steps: obtain an updated appraisal and revenue projections for the Main Street parking garage, provide documentation of existing leases and the deed of trust securing the loans, and convene a closed session with the city attorney to review legal remedies and negotiation options. A council member suggested executive session to get legal advice and to determine whether there were any irregularities in the original arrangement; staff said finance can supply invoices and a record of interest payments. No transfer, sale, forgiveness or binding decision was made at the meeting; the committee directed staff to gather the requested financial, appraisal and legal materials for future council consideration.

PURA’s request raised competing policy questions that committee members flagged at the meeting: whether the city should accept an asset in lieu of cash to restore the half‑cent sales‑tax fund, whether the fund’s original voters would be made whole under such a transaction, and whether alternative remedies (foreclosure on the deed of trust securing the loan, structured repayments from garage revenue, or negotiated settlement) could better protect taxpayer interests. Committee members asked PURA and staff to return with valuation, lease revenue analysis and legal options before any recommendation to accept an asset in satisfaction of the loan.","mediaType","Video","parentTitle","City Council Work Session-September 25, 2025","oneSentenceSummary","Pueblo Urban Renewal Authority representatives asked the City Council Executive Committee on Sept. 25 to consider transferring ownership of the Main Street parking garage to the city to satisfy a $14.4 million loan tied to RTA‑eligible downtown projects.","taxTitle","Pueblo City, Pueblo County, Colorado","taxId",4964,"location","headline","","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":79,"_45":80,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6454830,"Attorney outlines roles, limits and post‑2015 changes to Colorado urban renewal law",1961,83000,2044000,"/Search/View?dp=1&key=5857915-7e4b64280d68b8e80979f8b7382f714e&start=83&end=2044","https://assets.pipeline.soar.com/5857915-7e4b64280d68b8e80979f8b7382f714e/thumbnail_83000.jpg","/articles/6454830/Pueblo-City/Pueblo-County/Colorado/Attorney-outlines-roles-limits-and-post2015-changes-to-Colorado-urban-renewal-law","https://secure.pipeline.soar.com/6454830-0bd195554fdb00c569f6da6d2201e6f9/orig.mp4?Expires=1771204167&Signature=QFmNyaC6qR25cex2CPKTu1EE73q4BzTsAGEZMLkSuqmZL2908sG8oXVbfUtuq57B3IXaejNAffctLGYriLXdIJK9xtwXwlk~wsuSm8fPrDmna9eB7gwC0a-7PCRdW1emXGXkKGm3hgt9-AUHqTk-xiKbOq-0znVubpAyRiFDXqgOYYe0U-pHHvCCnc-R18MBdPKhsNN~CSP7Nt6qbbcYWetNO0B~BDrGptHuVOuUPwiItGk1DHInxaGW1HFd3n230oV3zmTBVKYgVOD5uUZlLq5o4AkTDYSC7Jt1ylFqLF~3uv4bOtNeTuqOjL2TpmJCMjoiKAd9Ub~mrIAZ0e30gA__&Key-Pair-Id=KUT5TJCACFTXG","Corey Hoffman, an attorney with Hoffman, Parker, Wilson & Carberry, told the Pueblo City Council Executive Committee on Sept. 25 that city councils are the policy makers for urban renewal plans while urban renewal authorities implement those policies and administer projects.

Hoffman said, “Urban renewal at the end of the day is still about blight elimination. Urban renewal is not an economic redevelopment tool.” He described urban renewal plans as policy documents the governing body adopts after finding blighted conditions and said those plans typically remain in place indefinitely while tax‑increment financing (TIF) collections have a statutory clock.

Hoffman summarized the two‑step process that must precede adoption of an urban renewal plan: a council or governing body must (1) find blight under the statutory factors and (2) decide whether an urban renewal plan is an appropriate policy response. He emphasized that an urban renewal authority is a separate legal entity that “can sue and be sued” and which carries out redevelopment agreements, issues obligations (broadly defined under the Urban Renewal Act) and, in some communities, issues bonds pledged to TIF. He noted that urban renewal authorities do not impose a mill levy and therefore generally are not subject to TABOR voter‑approval rules.

Hoffman explained legislative changes enacted in 2015 by House Bill 1348 that increased participation by other taxing entities on an urban renewal authority board (adding members appointed by the county, a local school board elected official and a special district official) and required negotiated agreements with affected taxing entities before TIF may be collected. He said the statute also requires that, at the conclusion of a project, leftover property‑tax increment in a special fund be refunded pro rata to taxing entities when the authority has no remaining pledged obligations.

On plan design and implementation, Hoffman said approaches vary: some jurisdictions use narrowly drawn project‑specific plans (often initiated by a developer) while others use broad, template or framework plans for larger areas. He explained common terminology under the statute — a “project” can be the larger plan area while individual development activities within it are “undertakings” or “activities.”

Hoffman addressed administrative funding for an authority, noting the statute authorizes administrative offices and staff but does not prescribe how administrative dollars are generated. He said practices range from taking an administrative fee from each plan area to allocating administrative costs from less active plan revenues or intergovernmental agreements with the municipality.

Committee members asked about board selection, oversight, bonding authority and geographic limits of urban renewal expenditures. Hoffman said mayoral appointment with governing‑body consent is the statutory appointment mechanism for board members (aside from the county, school district and special district members HB 1348 added). He recommended ongoing collaboration and regular joint study sessions between council and an urban renewal authority to keep policy alignment as council priorities evolve. On bonds, Hoffman said authorities commonly pledge expected TIF to pay obligations and that such obligations are evaluated for sufficiency of pledged revenue; he noted he is not a public‑finance specialist.

On geographic reach, Hoffman said the statute allows expenditures outside plan boundaries when there is a demonstrable nexus to preventing or eliminating blight in the plan area, and he gave examples such as drainage or pedestrian bridges built outside a plan to benefit the plan area.

The presentation closed with committee members discussing local practices for vetting consultants, administrative cost allocations, and the tradeoffs between a separate authority and having the governing body serve as the authority. No formal council action was taken at the meeting; members signaled interest in stronger liaison practices and periodic joint study sessions with Pueblo Urban Renewal Authority.","Attorney Corey Hoffman presented to the Pueblo City Council Executive Committee on Sept. 25 on how municipal governing bodies and independent urban renewal authorities should collaborate, explained statutory changes from 2015 (House Bill 1348) and described common practices for plan design, TIF, bonds and administrative costs.","actionData","errors"]

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Pueblo Urban Renewal Authority asks city to consider using Main Street garage to satisfy $14.4M RTA loan

Attorney outlines roles, limits and post‑2015 changes to Colorado urban renewal law