HomeMy WebLinkAbout2025-068-07/01/2025-APPROVING THE 2025 CERTIFICATION TO THE LARIMERRESOLUTION 2025-068
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROVING THE 2025 CERTIFICATION TO THE LARIMER
COUNTY ASSESSOR PURSUANT TO COLORADO REVISED
STATUTES SECTION 31-25-807(3)(a)(IV)(B)FOR THE DOWNTOWN
DEVELOPMENT AUTHORITY PROPERTY TAX INCREMENT
A.In 2008,the Fort Collins,Colorado Downtown Development Authority
(“DDA”)was in the final ten years of its original 30-year period (“Original TIF Term”)during
which property tax increment funds (“TIE”)could be allocated to and,when collected,paid
to the City of Fort Collins (“City”)for deposit into a special fund to be used for DDA
projects,as provided in Colorado Revised Statutes (“C.R.S.”)Section 31 -25-807(3)(a)(ll)
(“TIE Fund”).
B.Pursuant to C.R.S.Section 31-25-807(3)(a)(l\/)(A),in the final ten years of
the Original TIE Term,the Fort Collins City Council had the authority to extend by
ordinance such term by one additional 20-year period (the “TIF Extension Period”).
provided that (i)on the first day of the TIE Extension Period the established base year for
the allocation of property taxes is advanced by ten years,and (ii)upon the completion of
the first ten years of the TIE Extension period,the base is advanced by one year for every
additional year through the final ten years.
C.Pursuant to C.R.S.Section 31-25-807(3)(a)(IV)(B),the City Council also
had and continues to have the authority to commit more than 50%of the property taxes
levied by the City to be allocated and paid into the TIE Fund.
D.On July 10,2008,the DDA approved its Resolution 2008-06 (the “DDA
Resolution”)recommending to the City Council (i)approval of the TIF Extension Period,
and (ii)the allocation of 100%of the City’s property tax increment into the TIE Fund (the
“100%City TIE Allocation”).
E.On September 2,2008,the City Council adopted Ordinance No.101,2008
(the “2008 Ordinance”)approving the TIF Extension Period and,consistent with the
August 19,2008,Agenda Item Summary accompanying such ordinance and the DDA
Resolution,approved the 100%City TIE Allocation.
F.On Eebruary 15,2011,the City Council,as the ex-officio Board of Directors
of General Improvement District No.1 (“GID Board”),adopted Ordinance No.060 (“2011
GID Ordinance”)allocating 100%of the tax increment revenue from the Fort Collins
General Improvement District No.ito the DDA Tax Increment Eund for the TIF Extension
Period,with the seventh recital of the 2011 GID Ordinance confirming that the 2008
Ordinance had approved the 100%City TIE Allocation.
G.Pursuant to C.R.S.Section 31-25-807(3)(a)(IV)(B),an annual certification
to the Larimer County Assessor (“Assessor”)is required by August 1 of each calendar
year,which certification needs to include the allocations of tax increment for that year of
all affected taxing entities,including the City.
H.The purposes of this Resolution are to reaffirm the Council’s previous
actions in the 2008 Ordinance,to acknowledge the actions it took as the GID Board in the
2011 GID Ordinance,and to provide the Assessor with the City Council’s 2025
certification pursuant to C.R.S.Section 31-25-807(3)(a)(IV)(B).
In light of the foregoing recitals,which the Council hereby makes and adopts as
determinations and findings,BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
FORT COLLINS as follows:
Section 1.City Council reaffirms its previous actions in the 2008 Ordinance.
Section 2.City Council acknowledges the actions it took as the GID Board in
the 2011 GID Ordinance.
Section 3.City Council certifies to the Assessor,pursuant to C.R.S.Section 31-
25-807(3)(a)(IV)(B),that for 2025 property taxes payable in 2026,the 2011 GID
Ordinance continues to be in effect to allocate 100%of the available property tax
increment from the Fort Collins General Improvement District No.I mill levy to the DDA
tax increment fund,and the City continues to allocate 100%of its available property tax
increment from its mill levy to the DDA tax increment fund,but that all other affected taxing
entities are allocating only 50%of their property tax increment.
Section 4.City Council directs the City’s Financial Officer to provide this
certification to the Assessor by August 1,2025.
Passed and adopted on July 1,2025.
4.
Mayor Pro Tem
ATTEST:
LI
City Clerf
Effective Date:July 1,2025
Approving Attorney:Dianne Criswell
Exhibit:None