FINANCIAL_SERVICESAPPROVED

Longmont Urban Renewal Authority Board Meeting Agenda May 2026

LURA and St. Vrain Schools Finalize $15.1M TIF Pact

Cap of $15,100,000.00 in property tax incrementCity of LongmontST. VRAIN VALLEY SCHOOL DISTRICTMay 5, 2026

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Description

The Longmont Urban Renewal Authority approved a Tax Increment Revenue Agreement with the St. Vrain Valley School District for Twin Peaks Mall Urban Renewal Plan TIF Area No. 2, effective May 5, 2026. The School District will contribute up to $15.1 million in incremental property tax over roughly 25 years from the Retreat at Longmont development to remediate blight in the area.

Contract Details

Contract Amount

Cap of $15,100,000.00 in property tax increment

Vendor

ST. VRAIN VALLEY SCHOOL DISTRICT

Agency

City of Longmont, CO

Contract Type

FINANCIAL_SERVICES

Document Date

May 5, 2026

Contract Term

Up to 25 years; base year 2025, last assessment roll division 2050, last increment receipt year 2051

Renewal Date

2051-12-31

Renewal Info

Agreement duration is tied to a maximum 25-year TIF period for Area No. 2 or earlier retirement of all Authority obligations, with a total cap of $15,100,000 in retained School District increment; includes provisions for modification if state school finance law changes or the Plan is terminated.

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