Loading...
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