Council, URA approve Brickyard urban renewal steps, town to finance recreation center with public-private package

Town council and the Castle Rock Urban Renewal Authority used separate votes during the May 20 meeting to move the Brickyard redevelopment forward, approving tax-increment revenue agreements, a public-finance agreement and a temporary sales-tax credit tied to a public improvement fee.

The Brickyard project is a public–private redevelopment of the former Acme Brick site. Confluence Companies (the developer) is providing land, access and public improvements while the town plans to finance a roughly $72–75 million recreation and sports development center on the site through tax-exempt certificates of participation (COPs). The developer and its metro district will fund a portion of the public infrastructure; the proposed financing blends tax increment revenue, a share of sales tax at the site and developer contributions.

Actions taken at the…