HomeMy WebLinkAboutConstituent Letter - Read Before Packet - 5/6/2014 - Letter From David L. May, Fort Collins Area Chamber Of Commerce, Re: Updated Redevelopment And Reimbursement Agreement - Foothills Mall Agenda Item 15April 28, 2014
Fort Collins City Council
300 LaPorte Ave.
Fort Collins, CO 80521
Dear Mayor Weikunat, Mayor Pro Tem Horak, and Council Members Campana, Cunniff,
Overbeck, Poppaw and Troxell;
The Fort Collins Area Chamber of Commerce continues to support the adoption of the
Updated Redevelopment and Reimbursement Agreement as it relates to the
redevelopment of Foothills Mall.
This project will serve as a primary catalyst for revitalizing midtown Fort Collins, bolster
Fort Collins' position as the retail trade center of Northern Colorado and Southern
Wyoming and generate additional sales tax revenue to help the community afford
important quality of life amenities. This visionary project will attract new shoppers to the
community while reducing the leakage of sales tax revenue to areas outside of Fort
Collins.
This investment package, with minor modifications, continues to leverage new dollars
generated by the project for key public investments that will benefit the entire community
with the first full year of tax receipts projected to be greater than current tax receipts for
this same property. The modified investment package does not require any addition
public dollars and the changes assure an October 2015 open date and additional square
footage leased.
We encourage the Council to support the redevelopment of our midtown area and the
Foothills Mall by voting yes on the Redevelopment Agreement Amendments.
We also support the Mayor in voting for the project, should she choose to do so. While
appreciating her conservative approach to avoiding even a remote appearance of conflict
of interest, we do not believe she has a conflict and do not believe she will benefit
personally in any manner from this project. Consequently, we encourage her to
participate in the agreement deliberations and vote.
Sincerely,
Fort Collins Area Chamber of Commerce
David L. May
President & CEO
cc: Darin Atteberry, Mike Beckstead, Josh Birks