HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 12/18/2007 - RESOLUTION 2007-111 AGREEING TO ACT AS A REVIEWING ITEM NUMBER: 21
AGENDA ITEM SUMMARY DATE: December 18, 2007
FORT COLLINS CITY COUNCIL STAFF: Karen McWilliams
SUBJECT
Resolution 2007-111 Agreeing to Act as a Reviewing Entity for Commercial Properties for the State
Income Tax Credit Program for Qualifying Rehabilitation Projects.
RECOMMENDATION
Staff recommends adoption of the Resolution.
At a public hearing on November 14, 2007, the Landmark Preservation Commission voted
unanimously to recommend adoption of the Resolution.
EXECUTIVE SUMMARY
This Resolution states the City's intent to act as a reviewing entity for State Tax Credit projects
involving commercial properties within the city limits. The provisions of the State Tax Credit
legislation require that each Certified Local Government adopt annually a resolution stating whether
the Certified Local Government will act as a reviewing entity during the following twelve (12)
months.
BACKGROUND
Fort Collins achieved state and federal recognition as a Certified Local Government(CLG)in 1991,
the same year in which the Colorado Income Tax Credit program was instituted. A provision of the
Tax Credit program allows for CLGs to act as the reviewing entity for Tax Credit projects in their
jurisdiction. The Fort Collins Landmark Preservation Commission (LPC), as the City of Fort
Collins'official review board for historic resources,acted as the reviewing entity from 1995 through
1997. The City declined to serve as the reviewing entity from 1998 through 2005, as LPC and staff
resources were dedicated to higher priority preservation planning activities. Since 2006, the City,
upon the recommendation of the Landmark Preservation Commission, has agreed to act as the
reviewing entity for properties within the Downtown Development Authority(DDA) boundaries.
The Landmark Preservation Commission recommends that the City extend this benefit to encompass
all commercial properties within Fort Collins,not just those within the DDA boundaries. The review
function for non-commercial properties will continue to be performed by the Colorado Historical
Society.
December 18, 2007 -2- Item No. 21
A provision in the Colorado Income Tax Credit enabling legislation requires cities acting as
reviewing entities to maintain the fees received from applicants in a dedicated fund, specifically
earmarked for use in administering the program and to provide information and education to the
community within the context of historic preservation.
RESOLUTION 2007-111
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AGREEING TO ACT AS A REVIEWING ENTITY FOR
COMMERCIAL PROPERTIES FOR THE STATE INCOME TAX
CREDIT PROGRAM FOR QUALIFYING REHABILITATION PROJECTS
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 Revised Statute Section 39-22-514 establishes 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; 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 of Fort
Collins' 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 that the City of Fort Collins, through the Landmark Preservation Commission,
hereby agrees to act as a reviewing entity for commercial properties within the Fort Collins city
limits for the purposes of subsections(3)and(6)of C.R.S. § 39-22-514 for calendar year 2008. The
city will maintain the "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 this 18th
day of December, A.D. 2007.
Mayor
ATTEST:
City Clerk