PROFESSIONAL_SERVICESAPPROVED

Lyons Urban Renewal Authority Special Meeting Agenda January 2026

LURA Approves $1.75 Million TIF Agreement for 402 Main

Not to exceed $1,746,469 (cumulative)Town of LyonsROOTS TO REVIVAL LLCJanuary 22, 2026

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Description

The Lyons Urban Renewal Authority approved a Redevelopment and Reimbursement Agreement with Roots to Revival, LLC for 402 Main Street, Lyons, providing up to $1,746,469 in TIF-based reimbursement for public improvements including site remediation, core building systems, and architectural enhancements. The agreement uses 80% of new property tax increment, is capped at $1.75 million, and requires construction to commence by December 15, 2026, with payments ending no later than December 21, 2040.

Contract Details

Contract Amount

Not to exceed $1,746,469 (cumulative)

Vendor

ROOTS TO REVIVAL LLC

Agency

Town of Lyons, CO

Contract Type

PROFESSIONAL_SERVICES

Document Date

January 22, 2026

Contract Term

From effective date (Jan 22, 2026) until earlier of repayment in full, the expiration of the Lyons Urban Renewal Plan on December 21, 2040, or termination as provided. Construction must commence by December 15, 2026 or agreement terminates. Payments can be made until 2041 if increment remains.

Renewal Date

2040-12-21

Renewal Info

Maximum reimbursement is available through 2040 (plan term). Construction must begin by 12/15/2026, or contract voids. No automatic renewals; possible amendment/extensions require written agreement by both parties.