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Council, urban renewal authority approve Brickyard financing steps; town signs tax‑sharing agreements to fund sports complex
Summary
After multi‑jurisdictional negotiations, the Town Council and its Urban Renewal Authority approved agreements that allocate tax increment and sales‑tax offsets to help pay for a proposed 45,000‑square‑foot recreation center and associated infrastructure at the Brickyard site.
Castle Rock officials and the town‑created Urban Renewal Authority approved a series of agreements and ordinances on May 20 that set the public financing framework for the proposed Brickyard mixed‑use development and a town‑owned recreation center to be built on land provided by the developer.
What the council approved: the Urban Renewal Authority board (the council acting with additional representatives) approved tax increment sharing agreements with the taxing entities that consented to allocate incremental property tax revenues to the Brickyard Urban Renewal Plan. The town council then approved a matching town resolution consenting to the town’s participation in TIF sharing (motion and roll call recorded; vote 6‑0). Later, council approved ordinances authorizing a public finance agreement for the project (Ordinance 2025‑018) and an…
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