Council approves Broomfield Town Square business improvement district, urban renewal plan and tax‑sharing agreements

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 realm improvements and to assess bonds or fees. The initial BID plan allocates an operating and capital cap for the district; the petition covered owner consent for the required proportion of property and assessed value.

Council then approved the BID ordinance (Ordinance No. 2263), voted to approve the Broomfield Town Square Urban Renewal Plan (Resolution 2025‑69), authorized a modification reducing the boundary of the existing Broomfield Plaza Civic Center URA (Resolution 2025‑70), and the Broomfield Urban Renewal Authority approved tax increment revenue agreements (Resolution 2024‑71‑URA) related to the project. All measures passed on council/authority votes at the meeting; most passed unanimously.

Presenters emphasized that the new URA is approximately 53 acres and includes several public and privately owned properties in the town center corridor and that tax increment financing would rely on incremental taxes generated after new development. Several council members asked about inclusion of city‑owned facilities (library auditorium, fire administration) inside the new URA; staff said inclusion simplified construction and funding of public improvements near those sites and does not change those agencies’ receipt of their existing tax revenues.

Developer‑side representatives said the initial BID boundary is limited to a specific parcel that transferred to the developer in February, and they expect future boundary expansions as the project develops; each expansion would require council consent. The city also approved a separate ordinance establishing the BID board and a first budget for 2025–26; the BID board will be appointed by council.

Key votes and motions (selected): - Ordinance creating the BID (No. 2263) — passed unanimously on second reading. - Resolution approving the Broomfield Town Square URA — approved by council. - Resolution approving modification of the Broomfield Plaza Civic Center URA — approved by council. - Broomfield Urban Renewal Authority resolution approving tax increment revenue agreements — approved by the authority.

Ending: Staff said related matters — such as final MID‑district budgets, intergovernmental agreements and design‑level engineering — will continue through the summer; council approved the package so the redevelopment team can proceed with financing and next‑stage design.