Jariah Walker, Executive Director, Colorado Springs Urban Renewal
Authority (URA) introduced Tom Binnings, Senior Partner, Summit
Economics, LLC, who provided an overview of the economic and fiscal
impacts of URA in Colorado Springs, research objective, key findings, total
market versus assessed value, value of building permits post-URAs
creation, new construction versus renovation. He identified the total Tax
Incremental Financing (TIF) eligible taxes versus actual TIF, total URAs TIF
eligible sales tax 2008-2022, property taxes, cumulative non-TIF tax receipt
estimates, percent change of URA Census tracts from 2010-2020, and
fifteen years past versus future forecasts.
Councilmember Henjum asked what caused the change from
seventy-seven percent of TIF eligible sales tax increment to property tax.
Mr. Binnings stated areas with more retail potential have a higher
contribution of sales taxes otherwise they become more property tax
oriented.
Councilmember Henjum asked why the City Auditorium is listed under the
URA. Mr. Walker stated the entire block where the City Auditorium is
located which includes the Hyatt is under URA.
Councilmember Henjum asked why the URA is primarily on the western
side of the City. Mr. Binnings stated urban renewal is a process which
generally occurs after an area has a significant decline and the market is a
central driver. Councilmember Henjum stated she would like to see the
southeast and eastern side to start seeing some urban renewal.
President Helms asked why the URA is moving more towards property
taxes versus sales tax. Mr. Binnings stated starting in 2008 with north
Nevada, they took a blighted area and converted it into retail center as well
as other areas which have generated very significant sales taxes in the
URA but moving forward, there are there are fewer of those opportunities
and the future opportunities lie more in the realm of affordable or attainable
housing and industrial reconfiguring.
7. Staff and Appointee Reports
7.A.
Lithium-Ion Battery Presentation
Presenter:
Brett T. Lacey, Fire Marshal, Colorado Springs Fire Department
Kris Cooper, Deputy Fire Marshal, Colorado Springs Fire Department
Brett Lacey, Fire Marshal, Colorado Springs Fire Department (CSFD),
introduced Kris Cooper, Deputy Fire Marshal, CSFD), who provided an
overview of the risks associated with lithium-ion (Li-ion) batteries, battery