Wheat Ridge to vote on tax-increment financing
“The city of Wheat Ridge will vote on the use of tax-increment financing this November after gathering signatures from residents to pursue such a measure.
If passed, the ballot measure will require any tax-increment financing package exceeding $2.5 million to be voted on by residents of Wheat Ridge. A community group gathered signatures in support of the initiative over the last few months, spurred by the success another group had passing a similar ordinance in Littleton.
The effort started in response to redevelopment plans for a site at 38th Avenue and Wadsworth Boulevard, said Debbie Sarcone, organizer of Keep Wheat Ridge Local, the community group behind the ballot measure.
The city of Wheat Ridge last month approved a $6.25 million financing package for the redevelopment, which will be anchored by a Walmart and home to other commercial and residential uses.
“We decided we needed to have more local voices in how our city is being developed,” Sarcone said.”
Armbrister, Molly. Denver Business Journal 15 July 2015.