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Loveland Colorado Downtown Partnership
Loveland Colorado Downtown Partnership

970.541.4333

City of Loveland Colorado Downtown Parking Map - April 2017Click for Downtown Parking

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5/26/17

District News

Downtown District launches color-filled Hop. Skip. Jump. this Friday!

The Hop.Skip.Jump. program is designed to help people find parking, direct them to what's happening where and when, all in the midst of the construction going on downtown.

During May 12th's Night on the Town, visitors are invited to HOP from shop to shop, SKIP along the sidewalks to discover hidden artworks and interact with unique selfie spots and JUMP into one of the pedicabs and enjoy the ride. Anyone finding the hidden gems, special artwork and sidewalk secrets are encouraged to share photos on social media using #LoveHopSkipJump.

 

Read More....

2016 has been a busy and exciting year for the Downtown District. Interested in learning about the many accomplishments of 2016? Click here for a list of accomplishments.

Read More....

Click HERE to see a video produced by The Community Foundation for the 2015 Destination Loveland event.

Read More....

Alliance News

Title of News Item

A brief 1 or 2 line description goes here.

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Do you like ‘The Amazing Race?’  Do you thrive in a team environment?  Do you like solving clues?  Do you need a fun night out?  Would you like to win $750?

Read More....

 

More About DDA

Downtown District Voter Eligibility Information:


What is the Downtown Development Authority?

The Downtown Development Authority (DDA) is a statutorily created authority, approved by the voters in February 2015, and authorized by the City of Loveland in April 2015, for the purpose of halting, preventing, and correcting deterioration within the geographic boundaries identified as the District, and to create and implement development plans for the District, utilizing tax increment financing (TIF) for the completion of authorized projects that are part of a comprehensive DDA development plan – the Plan of Development. 

The vision of the DDA is to establish a downtown that is healthy, viable, and economically sound for the future.   Click here to go to the organizing document.

What is the Mission of the DDA?

The Mission of the Loveland, Colorado DDA is “to strengthen, develop and promote the economic well-being, safety and vitality of the Downtown District.  As a self-governing agency of the City, the DDA facilitates, plans and executes development and capital improvement projects.  We commit to fulfill our mission collaboratively, ethically and professionally, while preserving the unique and historic character of the District.”

What is the DDA’s Plan of Development?

Click on this link to see the FULL Plan of Development

Click on this link to go directly to the “list of projects” identified for the District – Pages 8-10.


What is a Tax Increment Financing (TIF) Plan?

Tax Increment Financing (TIF) is a tool utilized by municipalities throughout the country to finance public improvements in identified areas of need, known as redevelopment districts or DDA’s.  TIF can be implemented through the creation of a Downtown Development Authority (DDA). 

A DDA can provide public amenities that encourage and facilitate corresponding “new development” within an approved geographic district.  For example, a DDA might use funds generated from a new development or a redevelopment to participate in the financing for new streetscapes, plazas, sidewalks, streets or simply to improve traffic/pedestrian circulation that would help to make the new development possible. 

A DDA can also provide assistance to existing property owners who might want to rehabilitate or expand their property.  An example of this might be a façade improvement reimbursement program.  This financing tool is not new and has been utilized around the country for decades to help fund public improvements and encourage redevelopment.

How does TIF work?

Property Tax. Once a DDA is established and a Plan of Development is adopted, the property tax base for the district is frozen.  This means that after the date of the plan adoption, the assessed value to which the mill levy for the City, the school district, the county and other taxing jurisdictions would be the same each year thereafter with adjustment only for general reassessments (which occurs every odd year). 

For example, if the assessed value in a DDA is $1 million on the date of plan adoption, then the mill levy for each of the overlapping taxing jurisdictions is applied to that $1 million base assessment each year.  As the properties in the DDA begin to increase in value due to redevelopment efforts, that increase in assessed value times the combined mill levy of the overlapping taxing jurisdictions go to the DDA. 

For example, if the assessed value of property in the district increases to $10 million in year 5 of the plan, the taxes derived from multiplying the combined mill levy times the $1 million base go to the overlapping taxing jurisdictions and the mill levy times the $9 million increase would go to the DDA.  So revenues that would have ended up with the county and other entities through increases in tax revenues tied to redevelopment, stay in the City and more specifically, in the DDA. 
 
Sales Tax.  The plan can also affect City sales tax revenue, but not state or county sales tax revenues.  The plan can dedicate sales tax revenues above the base year revenues to the DDA. 
 
The following graph generally depicts how TIF revenues are captured by the DDA:

Tax Increment Financing
Once these revenues are captured, this new stream of revenue can be utilized to pay debt service on bonds that can be issued by the City(DDA) for public improvements.  Bonding may be necessary, as it would typically take a period of time to acquire enough revenue to fund public improvements. 

Lending institutes find TIF a very stable source of revenue and therefore readily lend money when secured by TIF.  Bonds are only put in place once construction of public improvements begins and assuming the DDA has the financial capacity to repay the debt.  TIF can be utilized for up to 25 years from the date of establishment.

Is TIF a new tax?

No.  No new taxes are established using TIF nor are taxes (either property tax or sales tax) increased.  The revenues produced by increased property values and increased retail sales activity are simply redistributed to benefit the DDA for public improvements in the district.


DDA Successes in Other Communities

Whether you see them as a model Loveland hopes to follow or not, a variety of communities in Colorado have seen significant improvements driven in their downtowns thanks to the work of their respective DDAs.

In addition to the clear successes that Loveland had with its prior DDA, these DDAs have all proven successful to some extent and have done so with the active engagement and participation by and partnership with local government, businesses, and residents. Their challenges (recent Grand Junction events in particular) also provide important context and education.

Click here to open a .pdf with more detailed information!


News Feed

 

Downtown District launches color-filled Hop. Skip. Jump. this Friday!

The Hop.Skip.Jump. program is designed to help people find parking, direct them to what's happening where and when, all in the midst of the construction going on downtown.

During May 12th's Night on the Town, visitors are invited to HOP from shop to shop, SKIP along the sidewalks to discover hidden artworks and interact with unique selfie spots and JUMP into one of the pedicabs and enjoy the ride. Anyone finding the hidden gems, special artwork and sidewalk secrets are encouraged to share photos on social media using #LoveHopSkipJump.

 

Read More....

Our main phone number: 970.541.4333

Read More....

2016 has been a busy and exciting year for the Downtown District. Interested in learning about the many accomplishments of 2016? Click here for a list of accomplishments.

Read More....

By The Reporter Herald
December 12, 2016

The Downtown District's first tree lighting ceremony brings holiday cheer to downtown Loveland with the Festival of Lights.

Read More....

Loveland Reporter-Herald Editorial: Downtown investment is needed (posted 10/04/16) 

 

Read More....

Click HERE to see a video produced by The Community Foundation for the 2015 Destination Loveland event.

Read More....

By by Doug Storum of BizWest.com
9/20/2016

"Downtown redevelopment project in Loveland gain momentum" by by on September 20, 2016 published in BizWest.com.

Includes video which shows an animated aerial flyover and through the proposed The Foundry mixed-use project in downtown Loveland.

Video courtesy city of Loveland/OZ Architecture/Russell + Mills Studios.

Read More....

By Colorado Real Estate Journal
9/20/16

New future for Loveland by  

 

Read More....

City of Loveland focuses on Downtown District

 

Read More....

Things are movin' and shakin' downtown! See Craig Young's article  "Downtown Shuffle" here.

Read More....

 

970.541.4333

City of Loveland Colorado Downtown Parking Map - April 2017Click for Downtown Parking

SMTWTFS
123456
78910111213
14151617181920
21222324252627
28293031
5/06/17
5/06/17 8:30am
5/06/17 10:00am
5/08/17
5/08/17 4:00pm
5/12/17
5/12/17 5:00pm
5/15/17
5/15/17 8:00am
5/26/17

District News

Downtown District launches color-filled Hop. Skip. Jump. this Friday!

The Hop.Skip.Jump. program is designed to help people find parking, direct them to what's happening where and when, all in the midst of the construction going on downtown.

During May 12th's Night on the Town, visitors are invited to HOP from shop to shop, SKIP along the sidewalks to discover hidden artworks and interact with unique selfie spots and JUMP into one of the pedicabs and enjoy the ride. Anyone finding the hidden gems, special artwork and sidewalk secrets are encouraged to share photos on social media using #LoveHopSkipJump.

 

Read More....

2016 has been a busy and exciting year for the Downtown District. Interested in learning about the many accomplishments of 2016? Click here for a list of accomplishments.

Read More....

Click HERE to see a video produced by The Community Foundation for the 2015 Destination Loveland event.

Read More....

Alliance News

Do you like ‘The Amazing Race?’  Do you thrive in a team environment?  Do you like solving clues?  Do you need a fun night out?  Would you like to win $750?

Read More....

Title of News Item

A brief 1 or 2 line description goes here.

Read More....

 

News Feed

 

Downtown District launches color-filled Hop. Skip. Jump. this Friday!

The Hop.Skip.Jump. program is designed to help people find parking, direct them to what's happening where and when, all in the midst of the construction going on downtown.

During May 12th's Night on the Town, visitors are invited to HOP from shop to shop, SKIP along the sidewalks to discover hidden artworks and interact with unique selfie spots and JUMP into one of the pedicabs and enjoy the ride. Anyone finding the hidden gems, special artwork and sidewalk secrets are encouraged to share photos on social media using #LoveHopSkipJump.

 

Read More....

Our main phone number: 970.541.4333

Read More....

2016 has been a busy and exciting year for the Downtown District. Interested in learning about the many accomplishments of 2016? Click here for a list of accomplishments.

Read More....

By The Reporter Herald
December 12, 2016

The Downtown District's first tree lighting ceremony brings holiday cheer to downtown Loveland with the Festival of Lights.

Read More....

Loveland Reporter-Herald Editorial: Downtown investment is needed (posted 10/04/16) 

 

Read More....

Click HERE to see a video produced by The Community Foundation for the 2015 Destination Loveland event.

Read More....

By by Doug Storum of BizWest.com
9/20/2016

"Downtown redevelopment project in Loveland gain momentum" by by on September 20, 2016 published in BizWest.com.

Includes video which shows an animated aerial flyover and through the proposed The Foundry mixed-use project in downtown Loveland.

Video courtesy city of Loveland/OZ Architecture/Russell + Mills Studios.

Read More....

By Colorado Real Estate Journal
9/20/16

New future for Loveland by  

 

Read More....

City of Loveland focuses on Downtown District

 

Read More....

Things are movin' and shakin' downtown! See Craig Young's article  "Downtown Shuffle" here.

Read More....

 

350 N Cleveland Ave Loveland, Colorado 80537   |   970.541.4333

Office Hours: Monday - Friday, 9:00 AM - 5:00 PM