Lakewood Reinvestment Authority recommends Bend at Lakewood urban renewal plan to City Council

The Lakewood Reinvestment Authority on April 28 recommended City Council adopt the Bend at Lakewood Urban Renewal Plan and authorized intergovernmental agreements with taxing entities tied to tax-increment financing (TIF).

The recommendation came after staff and the applicant described an early-stage, transit-oriented redevelopment concept for a roughly 59-acre site sold last year by the federal government at the western edge of the Federal Center, adjacent to the Federal Center Light Rail Station. Travis Parker of Sustainability and Community Development told the authority that “this plan includes a conditions survey of this property,” and that the consultant found multiple criteria that led to a blight determination used to qualify the area for an urban renewal plan.

Why it matters: adopting the plan would allow capture of future property-tax increment from the site for up to 25 years to pay for public improvements on the site — roads, utilities, environmental remediation and cultural amenities — and to secure bonding against that increment. Staff said the captured increment is intended to fund public horizontal infrastructure that supports the private, mixed‑use development.

Key facts and commitments - Site and concept: Staff described the plan area as about 59 acres bordering Highway 6 to the north, Union Avenue to the west, an RTD parking lot to the south and the remainder of the Federal Center to the east. The applicant’s preliminary site concept shown to the authority includes multiple mid‑rise buildings, structured parking, roughly 100,000 square feet of retail and public plazas near the rail station. Staff emphasized the site plan is preliminary and will be subject to many rounds of city review. - Housing: The applicant has committed that 10% of residential units in the proposed development would be affordable. Staff described that commitment as 10% of the total units at 60% of area median income, but the meeting record did not supply a single, unambiguous final unit count for the development under the urban renewal plan stage. - Financing summary (as presented at the meeting): staff said public improvements were estimated at about $35,900,000, total debt service was presented at about $89,200,000, and forecasted TIF revenue was shown at roughly $89,500,000. Staff said the forecasted TIF revenue was sized to repay debt service; the slide the authority saw showed a difference between the two debt figures of about $300,000. - Intergovernmental agreements: staff reported negotiated IGAs with the taxing entities that serve the site. The city, Jefferson County Schools, Mile High Flood District and Jefferson County Public Library were described as agreeing to 100% of their increment in the capture area. Jefferson County’s agreement was shown at a baseline retention by the authority of approximately 65% of the county increment, with scheduled step-up amounts tied to delivery of affordable units (a schedule described in the staff presentation showed higher retention for the authority as additional affordable units are delivered). Staff noted conditions related to the timing of evidence for those units. West Metro Fire was shown in the slides with a time‑phased schedule in which the share retained by the authority decreases over time; staff described that early years of development generate fewer emergency calls and therefore West Metro’s retained share increases later in the 25‑year period.

Questions, concerns and next steps Commissioners asked for clarity about the geographic limits of the plan and whether the authority’s statutory power to acquire and dispose of property could reach outside the plan area; staff responded the power would be exercised within the 59‑acre plan area as defined in the plan. Commissioners asked whether future financing agreements would return to the authority for approval; staff said specific project financing and use of TIF for a particular public improvement would return for subsequent approvals.

Several commissioners and staff discussed community connectivity and programming, including pedestrian and bicycle access from the neighborhoods to the west and programming for the proposed plazas and dog park. The applicant’s team said it had begun outreach with surrounding neighborhood associations and will continue to refine connectivity and programming as the site plan advances.

There were no amendments to the recommendation. After public comment (which addressed other meeting items), the authority voted to recommend the plan to city council and to authorize the negotiated intergovernmental agreements as presented.

Votes at a glance - Approval of LRA meeting minutes (Oct. 21, 2024): motion to approve was made and seconded; no objections were raised and the clerk announced the motion “passes unanimously.” (record: approval of minutes; outcome: approved). - LRA Resolution 2025-1 (recommend adoption of the Bend at Lakewood Urban Renewal Plan and authorize IGAs regarding tax-increment revenue): motion and second; roll‑call vote recorded by staff and announced as “That passes 120.” The clerk’s roll call in the transcript recorded affirmative votes by the commissioners present and the chair declared the resolution approved. (record: LRA Resolution 2025-1; outcome: approved; note: transcript records the announcement “That passes 120,” which the clerk read after the roll call.)

What comes next: The authority recommended the plan and IGAs to City Council; City Council consideration and subsequent approvals would be required before TIF capture or any bonding would occur. Specific financing agreements and any proposed spending of TIF proceeds would be subject to later board and council actions, as staff said.