Denver committee advances amended DDDA cooperation agreement; second reading set for Feb. 18

The Finance and Governance Committee of the Denver City Council on Feb. 4 advanced a proposed second amended and restated Denver Downtown Development Authority (DDDA) Plan of Development cooperation agreement, moving the measure to the full council for a second reading on Feb. 18.

The agreement, presented by city staff, lays out application and approval processes and specifies evaluation criteria and funding types — including tax-increment performance payments, loans and lump-sum reimbursements — to support catalytic downtown investments. Councilmember Darrell Watson moved the committee motion and Councilmember Paul Cashman seconded it; the committee advanced the item to the council floor with no roll-call tally recorded in the meeting transcript.

Why it matters: The cooperation agreement implements the DDDA plan of development and the city’s approach to awarding a portion of tax-increment revenues and other gap financing to projects intended to spur economic activity in downtown Denver. Voters approved a bonding/debt capacity for downtown investment on Nov. 5 (the transcript cites $570,000,000 and more than 77% electoral support), and the agreement governs how those and other district resources may be allocated.

City staff said the city will administer applications, score projects against five major criteria categories, and make…