Upcoming legislative session could complicate Steamboat’s plans to fund downtown revitalization
“The fast-approaching 2014 legistlative session in Colorado could complicate Steamboat Springs’ desire to use tax increment financing to revitalize parts of downtown.
#For several years, cities around the state including Steamboat have used tax increment financing administered by urban renewal authorities to inject millions of dollars worth of property and sales tax gains from formerly “blighted” areas into redevelopment projects.
#That’s how the promenade at the base of the Steamboat Ski Area was realized along with other improvements to nearby streets and medians.
#But in recent years, some Colorado legislators have scrutinized this form of financing in part because it diverts property tax gains in these revitalized areas away from counties and school districts that usually would collect these revenue increases.”
Franz, Scott. Steamboat Today 30 December 2013.