HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 11/15/2005 - RESOLUTION 2005-121 STATING THE CITYS INTENT TO AC ITEM NUMBER: 26
AGENDA ITEM SUMMARY DATE: November 15, 2005
FORT COLLINS CITY COUNCIL STAFF: Carol Tunner
SUBJECT
Resolution 2005-121 Stating the City's Intent to Act As a Reviewing Entity in 2006 for Properties
Within the Downtown Development Authority Boundaries for the Colorado Historic Preservation
Income Tax Credit for Qualifying Historic Rehabilitation Projects Under C.R.S. §39-22-514.
RECOMMENDATION
The Landmark Preservation Commission and staff recommend adoption of the Resolution.
EXECUTIVE SUMMARY
As a Certified Local Government, Fort Collins has the opportunity each year to choose to be a
reviewing entity for the Colorado Historic Preservation Income Tax Credit during the next calendar
year. The City Council must adopt a resolution stating whether or not it intends to take on this
responsibility in the next year.
Fort Collins became a Certified Local Government in 1991 when the Colorado Income Tax Credit
was instituted, but did not take on the reviewing entity function for this program until 1995. For
three years,the Landmark Preservation Commission was the reviewing entity and performed design
review on qualifying historic rehabilitation projects for the Colorado Income Tax Credit. The City
declined the review from 1998 through 2005 because staff resources were dedicated to higher
priority local preservation activities.
The decision to accept review in 2006 for business applicants within the DDA boundaries was based
on Budgeting For Outcomes Offer #324 HISTORIC PRESERVATION PROGRAM FOR OLD
TOWN COMMERCIAL PROPERTIES. This proposed new service providing City processing of
State Tax Credits will provide a financial incentive for developers of historic properties within the
DDA boundaries. Currently, to use the state tax credit, they work with the Colorado Historical
Society by mail and phone. Local processing will streamline the tax credit review, saving property
owners time and money. A further benefit to the City is that the City will recover an administration
fee which helps offset the admin costs of this component of the offer.
On October 26, 2005 at a regular meeting, the Landmark Preservation Commission discussed this
function and made the decision to recommend that the City accept the reviewing entity function for
the Colorado Historic Preservation Income Tax Credit in 2006 for properties within the DDA
boundaries. The City is required to maintain a"preservation fund" of fees collected for the service.
Fees are set by state legislation, but collected by the local government to be used for expenditures
incurred in the performance of the design review duties. Fees range from$250 to$750 depending
on the cost of the project.
November 15, 2005 -2- Item No. 26
The reviewing entity function for the rest of the City will still be performed by the Colorado
Historical Society staff for the 2006 calendar year so that the program will be available to all Fort
Collins citizens.
RESOLUTION 2005-121
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AGREEING TO ACT AS A REVIEWING ENTITY FOR PROPERTIES
LOCATED WITHIN THE DOWNTOWN DEVELOPMENT AUTHORITY
BOUNDARIES FOR THE COLORADO HISTORIC PRESERVATION
INCOME TAX CREDIT FOR QUALIFYING HISTORIC
REHABILITATION PROJECTS UNDER C.R.S. §39-22-54
WHEREAS, the Fort Collins Landmark Preservation Commission and the City Council
support the creation of incentives to assist in the preservation and protection of historically
significant resources; and
WHEREAS, Colorado House Bill 90-1033 (C.R.S. § 39-22-514, as amended) was signed
into law April 20, 1990, establishing tax credits for historic structures throughout the state; and
WHEREAS, the City of Fort Collins, as a Certified Local Government, pursuant to the
provisions of 16 U.S.C. § 470 (a) (C) (1), as amended, is eligible to review such rehabilitation tax
credit projects as a reviewing entity as defined by C.R.S. § 39-22-514 (12) (1); and
WHEREAS,the provisions of C.R.S. § 39-22-514(10) (a)require that each Certified Local
Government adopt annually a resolution stating whether such Certified Local Government will act
as a reviewing entity during the following twelve (12) months; and
WHEREAS, the Fort Collins Landmark Preservation Commission, as the City's official
review board for historic resources,endorses rehabilitation project reviews at the local level,which
provide an increased level of preservation service to our community.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FORT COLLINS as follows:
Section 1. That the City of Fort Collins, through the Landmark Preservation
Commission, hereby agrees to act as a reviewing entity for properties within the Downtown
Development Authority boundaries for the purposes of subsections(3)and(6)of C.R.S. §39-22-514
for calendar year 2001.
Section 2. That the City will maintain a"preservation fund" as required by C.R.S. § 39-
22-514 (11) (a), for use in administering the program and to provide information and education to
the community within the context of historic preservation.
Passed and adopted at a regular meeting of the Council of the City of Fort Collins held this
15th day of November, A.D. 2005.
Mayor
ATTEST:
City Clerk
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