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Loveland Downtown Partnership Home Page

More About DDA

Downtown District Voter Eligibility Information:

On November 7, 2017, the City of Loveland will participate in the Larimer County election. In addition to other municipal matters including City Council and Mayoral elections, the City will place a question on the ballot providing for the DDA to issue bonds to finance costs of downtown development and redevelopment projects

Affidavit for DDA Qualified Voter and Information  Click Here


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?

 Plan of Development Click Here 

 Plan of Development Cost Summary 2017  Click Here 

Plan of Development project list Click Here 

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!


 Night on the Town

Friday, Aug 10, 2018 5 pm-9 pm

Night on the Town is Downtown Loveland’s “night out” with many art galleries and businesses offering a ready welcome from 5 pm to 9 pm. There's plenty of fine and casual dining, craft beer tasting rooms and retail shops to enjoy. You’ll find snacks, live music and sales in multiple locations, all part of an inviting atmosphere and hearty welcome from downtown businesses. It’s an opportunity to spend an evening with friends in our downtown.

During our "Summer Version" there are street performers, live musicians, something on every corner. 

 

 

“People of Loveland”

Meet Jenny

“Who gets to hang out with awesome election judges, document lovely Lovelanders driving through to drop their ballots off and exercise their voting rights, seeing many new faces and some of my favorite people as well? I do!

I'm the lucky one that gets to document all of the amazing things that people do in this community everyday for the Loveland Reporter-Herald through my lens. I can tell you from experience that Loveland is truly filled with love.

Am I a celebrity? 

You're right about the rest though.

It's truly a gift to be able to embed myself into people's lives. In their best moments or their worst, I'm there. Sometimes they love me for it and sometimes they're not very happy to see me. If they knew me, they would realize I'm shooting with my heart and I feel their joy and their pain. My mission is to make my own little positive difference in people's lives. Whether that's filling readers hearts with joy when they see a joyful photo or causing someone to want to make a difference because they see others doing the same, or evoking empathy and love from a photo of a tragedy- I hope to make a difference, even if just for a moment.

For more of Jenny's Story- follow us on facebook

 

There is a beautiful new mural evolving in Downtown Loveland! 

Stop by to watch her come to live at The Gressiwick!
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Have you noticed the sculptures in Downtown Loveland seem to change each year? They are part of a TAAP Program through the City of Loveland! 

   

TAAP sculptures are on the move as we make way for three new sculptures in downtown.

"Big Vision, Small Steps" by Charlotte Zink, "Convergence" by Steve Shachtman and "Love/Fear" by Joe Norman will be installed next Friday! "Broken Violin" by Jack Kreutzer; "Ovilepod" by Ted Schaal and "Hard Rock" by Pati Stajcar will remain on display for another year. Thank you to all of our TAAP artists -- past and future!









 

Patina Flats at The Foundry is now open and taking tours!

Living spaces at Patina Flats at The Foundry are thoughtfully designed with comfort and convenience in mind, and are stylishly appointed with the kind of premium materials and finishes you won’t find in any other apartments for rent in Loveland. Our Lincoln building is set to open in August 2018, and the Cleveland building is set to open in October 2018!

Our community amenities feature a 24-hour fully equipped fitness center, an executive lounge with a pool table and rooftop patio, a lobby and lounge space, and much more! Patina Flats will also have an on-site hotel and movie theatre, a central plaza for entertainment, and first floor restaurants and retail!   

The apartments offer open and modern floorplans with high-end finishes that make Patina Flats at The Foundry the most desirable new apartments in Loveland, Colorado. Studio, 1-bedroom, 2-bedroom and 3-bedroom urban living units fill the upper floors while retail, restaurants, and creative offices fill the first floor to give residents the convenience of urban living right in the heart of the Sweetheart City!

Stop by our office located at 320 N. Cleveland Avenue; contact us at 970-672-1013 or email us here to set up a tour today! We look forward to speaking with you!


 

350 N Cleveland Ave Loveland, Colorado 80537   |   970.541.4333

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