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Commission endorses Twin Peaks Mall TIF amendment to aid redevelopment of former Walmart site
Summary
The commission unanimously recommended the second amendment to the Twin Peaks Mall urban renewal plan to create Tax Increment District No. 2 covering the former Walmart parcel and an adjacent townhome site; the project proposes a 265‑unit multifamily building with parking and a planned second 230‑unit phase
LONGMONT, Colo. — The Longmont Planning & Zoning Commission on Aug. 27, 2025, voted unanimously to recommend a second amendment to the Twin Peaks Mall Area Urban Renewal Plan that would create Tax Increment District No. 2 to support redevelopment of the former Walmart site and adjacent parcels.
Laura Moody, executive director of the Longmont Urban Renewal Authority, described the redevelopment proposal: the current plan contemplates a 265‑unit multifamily building with an integrated parking garage on the former Walmart footprint and a potential future second phase with about 230 units built over the surface parking. Existing small commercial tenants east of the site would remain, she said, and the amendment would capture incremental property‑tax value generated by new development to address blight and pay for eligible public improvements within the district under Colorado urban renewal law.
Commission debate and administrative correction
Commissioners discussed the amendment boundary details during the hearing. Commissioner Earl moved to adopt PZR‑2025‑9A subject to correcting exhibit maps and legal descriptions to exclude a small middle parcel that is not part of the amendment; Commissioner Wing seconded. The motion passed 7–0. Staff indicated the corrected exhibits and legal descriptions would be finalized prior to forwarding the amendment to City Council.
What this does and next steps
The planning commission’s finding is advisory and will be forwarded to City Council for final action. If enacted by Council, incremental property‑tax revenue above the district’s base assessed value would be available to the Twin Peaks Mall Area Urban Renewal Authority to pay eligible project costs within the district (public infrastructure, site remediation, other allowable items). Moody told commissioners some retail properties in the area will not be redeveloped as part of the current proposal and would remain in place.
Quote (selected)
- Laura Moody, Executive Director, Longmont Urban Renewal Authority: “This would be the creation of tax increment District Number 2.”
Ending
The commission recommended approval and asked staff to correct map exhibits before City Council consideration. Council will take the final vote on the amendment and any TIF establishment.
