Castle Pines URA approves 2025 budget, citing modest first-year tax increment

The Castle Pines Urban Renewal Authority approved Resolution 25-01 on Dec. 2, adopting a 2025 budget that projects roughly $16,500 in tax increment revenue and a $300 county treasurer collection fee.

The authority’s finance director presented the proposed budget and described the $300 line as the county treasurer’s fee to collect and remit tax-increment revenues, which the presentation characterized as approximately a percent or two of collections. The presentation said the 2025 projected tax increment—described as the URA’s first revenue—was about $16,500 and that the budget shows an ending fund balance near $16,200.

Commissioners asked clarifying questions about the source and timing of the increment, including whether the revenue reflected Service Street developments and when funds would be available for spending. The finance director said the 2025 amount could be spent in 2025 and offered to follow up with county valuation details to clarify which parcels drove the increment.

Public comment was opened and no members of the public signed up to speak. Commissioner Cole moved to approve the resolution and the motion was seconded; commissioners voted in favor and the chair closed the hearing.

The approval puts the URA on record with a 2025 budget required by state law and establishes the small initial fund balances and the treasurer fee line item. The authority did not adopt any project-specific spending for 2025 during the meeting.