Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Downtown Development Authority topic
No spam. Unsubscribe anytime.
Boulder staff lays out Downtown Development Authority options, council presses on funding and oversight
Summary
City staff outlined a proposed Downtown Development Authority (DDA) that could use tax increment financing, a mill levy and possibly parking revenues to fund downtown reinvestment; councilors pressed staff on governance, the base year, equity and whether the DDA would assume parking and maintenance responsibilities.
City staff presented a detailed proposal for a possible Downtown Development Authority (DDA), telling the City Council the authority could use tax increment financing (TIF), a voter-approved mill levy and potentially downtown parking revenues to support long-term reinvestment in the Boulder Central Business Area.
Reagan, the staff presenter, said the DDA planning process has been guided by a community planning group that meets monthly and includes business and neighborhood representatives; she named planning-group participants Molly Winter, Dakota Soefer and Terry Takata Smith as remote participants available to answer council questions. "If this effort were to move forward to the ballot, the planning group is also anticipated to play a leadership role in outreach and community engagement," Reagan said.
Why it matters: staff emphasized structure determines scale. Under the modeling shown, TIF alone is modest in early years; at a conservative 1% annual growth scenario staff estimated roughly $300,000 in year-1 TIF revenue but said combining a mill levy at the current CAGED rate could raise total year-1 revenue to about $2.1 million. "Parking revenue could allow the DDA to finance larger investments earlier while still ensuring parking operations and maintenance are funded first," Reagan said.
Councilors asked detailed questions about who would pay and when, how the base year would be set, and whether maintenance or operations for civic-area projects and parking structures could move to a DDA. Mark (city staff) said the East Bookend block is in the study area and the city issued a request for interest that included a vision for a permanent, year-round farmers market; exact financing and partnership roles would be developed through a later request for proposals.
On legal and ballot mechanics, advisor Brad Siegel described likely ballot questions: one to form a DDA, a separate question to authorize use of TIF, and another on a mill levy; he said bonding or borrowing questions could be presented separately. Councilmembers pressed on intergovernmental impacts, noting TIF affects overlapping taxing entities including Boulder County and the Boulder Valley School District; staff said the plan of development and intergovernmental agreements would include safeguards and revenue-sharing parameters.
Council members also raised equity and climate concerns. Councilmember Nicole asked how equity tools would be used to hold a DDA accountable; staff said equity considerations would be embedded in the plan of development and through council-appointed board membership and intergovernmental agreements. Councilmember Taisha asked whether climate projections were included in the modeling; staff said those analyses are part of the next stage and not included in the initial financial projections.
What happens next: staff said they will continue refining the plan of development, legal analysis and financial modeling and expect to return in June with a more detailed draft and potential ballot referrals to consider. The presentation and discussion kept council direction focused on additional analysis rather than a vote to create a DDA tonight.
