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Castle Rock approves Brickyard urban‑renewal deal and $75.5M financing package for town sports center
Summary
The Town of Castle Rock and its Urban Renewal Authority on June 3 approved financing and development agreements to support redevelopment of the Brickyard site and to build a town‑owned sports development center.
Castle Rock officials on June 3 approved multiple steps to support redevelopment of the former Acme Brick site and to finance a town‑owned sports development center on property to be dedicated to the town.
What council and the URA approved
- The Castle Rock Urban Renewal Authority approved a public finance agreement that uses incremental property tax revenues to support public infrastructure at the Brickyard site. The agreement allows incremental property tax captured within the urban renewal area to be remitted to the newly formed Brickyard Metropolitan District to finance eligible public improvements.
- Town Council approved a parameters ordinance authorizing the issuance of tax‑exempt certificates of participation (COPs) to finance the sports development center and related…
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