Glendale review board hears presentation on proposed TID for Arden development; appointments, meeting date approved

The Glendale Joint Review Board on an organizational meeting heard a presentation on a proposed tax increment district (TID) tied to the Arden mixed‑housing project at 2510 West Goodwill Road and approved routine organizational motions including appointing the mayor as chair and naming Lars Volk the public member.

City officials and the developer said the site needs extensive environmental remediation that the developer and its lenders expect to address using a developer‑funded, pay‑as‑you‑go TID structure lasting 27 years with a 95/5 split of incremental tax proceeds favoring the developer.

The presentation by Joey Wazowski, senior development coordinator for Newland, described the Arden as a 79‑unit development of a corridor apartment building and townhomes adjacent to Round Deer Park and the Aurora Health Center. Wazowski said the developer has completed Phase I and Phase II environmental testing and a materials management plan approved by the Department of Natural Resources. He said, “the environmental cost associated with remediation is about $7,800,000.”

City consultant Todd Case and financial advisor Frank (surname not specified) reviewed the project plan and the independent analysis used to apply the statutory “but‑for” test required of TID…