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Council approves Broomfield Town Square business improvement district, urban renewal plan and tax‑sharing agreements
Summary
Council approved a business improvement district and related urban‑renewal plan and tax‑sharing agreements for the Broomfield Town Square project following presentations from city staff and the developer; related ordinances and resolutions passed unanimously or by council/authority vote.
Broomfield City Council voted March 18 to authorize a package of land‑use finance actions for the Broomfield Town Square redevelopment, including formation of a Business Improvement District (BID), adoption of a new Urban Renewal Area (URA) tailored to the project footprint, an amendment to an existing URA, and approval of related tax‑sharing agreements among affected taxing entities.
City attorney and staff summarized the package and legal findings, saying the actions implement elements of the 2019 redevelopment reimbursement agreement and were required to enable tax‑increment financing and development incentives. Mary Ann Migidi, counsel to the petitioners, explained the BID will be created under Colorado state law to allow an entity to construct and manage public…
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