Loveland council approves downtown appropriation, splits vote on Millennium plan; annexes Schmeer Farm for grocery site

Loveland City Council met in a hybrid session and took several major funding and land‑use actions. Councilors voted to adopt a supplemental appropriation tied to the Heart Improvement Plan (the “Hip Street” revitalization) and to approve zoning and a General Development Plan amendment for the Millennium Addition / Centerra South project. Separately the council unanimously approved annexation and conventional zoning for the Schmeer Farm First Addition, clearing the way for a grocer‑anchored commercial development at the I‑25/US‑34 interchange.

Why it matters: The Hip Street vote and the Millennium decisions determine how the city will pay for or allow large downtown and east‑side projects that shape traffic, utilities and long‑term tax flows. The Schmeer annexation is aimed at bringing a grocery store to the city’s east side and requires coordination on sewer and regional road improvements.

Hip Street appropriation The council adopted on second reading Ordinance No. 6757, a supplemental budget and appropriation for the Heart Improvement Plan (Hip Street) revitalization project. City staff and the DDA told council the city issued approximately $12 million in certificates/lease debt to fund the project; staff reported estimated annual debt service of roughly $830,000–$840,000 (the packet had programmed $850,000 as a conservative figure) and a total repayment estimate of about $20.7 million. The roll call on second reading recorded six votes in favor and two opposed; the ordinance passed.

Councilors asked for and staff committed to provide the final interest rate and the exact annual payment schedule to council after the meeting; staff said the true interest rate was closer to 4%–5% and that the DDA/TIF fund — not the city general fund — will be the primary repayment source so long as dedicated TIF coverage remains available. Staff emphasized that the project’s debt service is structured as annual appropriations tied to a financing vehicle and that second‑reading adoption was required to avoid construction delays.

Millennium / Centerra South: zoning approved, vesting extension rejected On a separately noticed quasi‑judicial item, the council split a large ordinance into two votes so it could consider (A) amendments to zoning and the Millennium General Development Plan (GDP) that allocate additional residential capacity to the…