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BRIGHTON URBAN RENEWAL AUTHORITY 2014 ANNUAL REPORT There was a time not long ago when cell phones were telephones. Now we talk text surf and work on them. We use smartphones to run our lives and our businesses. Things are really changing. Some experts are calling it the Shift Age.The Information Age is over they say. Today we need to adapt to a highly individualized extremely connected global economy. We have been planning for this in Brighton using another tool to do more. Through urban renewal we have improved blighted areas to Build sustainable mixed use and rail-served communities Recruit high-tech manufacturing firms Provide training for 21st century jobs Invest in local arts and entrepreneurship Forge collaborative partnership to get more done with less Along the way we are helping generate new taxes to benefit the City of Brighton Adams County the Greater Brighton Fire District and School District 27J. In times of scarce public resources this is good news. We invite you to read on and learn more about the benefits of urban renewal in Brighton. Together we are making The Shift in our community. Richard Gonzales Manuel Esquibel Chairman Executive Director 2 A MESSAGE FROM THE CHAIRMAN AND EXECUTIVE DIRECTOR 3 Since 2001 the Brighton Urban Renewal Authority BURA has invested more than 20 million in redevelopment projects in urban renewal areas sparking private investment of more than 430 million. 2014 BURA REVENUES OTHER FINANCING SOURCES 5350061 Property Tax Increment Revenues 4815909 90.02 Sales Tax Increment Revenues 358911 6.71 Interest Fees Other Revenues 175241 3.28 Agreements With Other Entities 1577431 29.77 Agreements With Other Taxing Bodies 1888425 35.29 Debt Service 1151220 17.25 Program Administration Operations 724753 13.55 Redevelopment Activities 8232 .12 2014 BURA EXPENDITURES OTHER FINANCING USES 5350061 Most cities have rundown areas with deteriorating infrastructure vacant storefronts declining property values and other factors that reduce the quality of life and economic vitality of the community. BURAs mission is to encourage investment and reinvestment within targeted areas of the community while strengthening the tax base of the whole city and growing the areas job base. BURA leverages resources and partnerships to deliver high quality community improvements. The Brighton City Council has approved several urban renewal plans that encompass much of downtown Brighton and targeted areas to the north and south. These areas are characterized by a variety of blight factors. BURA is an economic catalyst for those areas using its authority to leverage funds and forge creative partnerships with private developers businesses and other investors. BURA may assist in property acquisition development financing public improvements or development approval. Since its inception BURA has attracted more than 430 million in private investment and created or retained approximately 900 jobs in the urban renewal areas. WHAT WE DO Without public-private partnerships to direct private investment into blighted areas there would be no new revenue as development on those properties would not occur. Downtown Colorado Inc. 4 5 The gap is the difference between what a community wants in a development and what the private sector can afford to do. This gap is generally between 15 and 30 of the development project. Colorado Municipal League Once the monetary obligations related to a project are fulfilled the taxing entities have new permanent sources of revenue that would not have existed if the project had not been undertaken. Denver Urban Renewal Authority Citizens Guide to Urban Renewal Urban renewal activities in Brighton support our city county schools and public services. Urban renewal authorities do not levy taxes. Redevelopment of these areas can be very complex and costly and there is usually a funding gap. Urban renewal authorities may utilize a financial tool called Tax Increment Financing TIF to close that gap and fund eligible improvements within the designated area. When an urban renewal plan area is created a base assessed value is determined by the County Assessor. Only the tax increment created by new development in the plan area goes to an urban renewal authority for a period not to exceed 25 years. Tax entities who received tax revenue before the urban renewal plan continue to receive the tax revenue they were receiving. In fact urban renewal helps increase the tax base over time. In fiscal year 2014 meant additional revenues of 127121 for the City of Brighton 512592 for Adams County 225472 for the Greater Brighton Fire District 872238 for School District 27J Since 2001 BURAs strategic investments have helped increase the tax base generating a total of 16230500 for these entities. In addition BURA has contributed another 5.8 million in revenue sharing to them as well as Weld County and School District Weld RE8. EVERYONE BENEFITS AssessedValuation Base Year Adjusted every two years Base Property Values 25 Years To BURA and Other Entities Increased Valuation TIF Tax Increment Total Minus Base Revenue Source Assessed Ad Valorem Tax Real Personal Property 2014 Revenue Increases in Base Adams County ......................512592 City of Brighton......................127121 Greater Brighton Fire Dept.....225472 School District 27J................872238 Todd Creek City of Thornton Commerce City Downtown Brighton E. 168th A N.MainSt. E. 144th Ave. E. 136th Ave. E. 120th Ave. BrightonRd. 4thAve. SableBlvd. PotommacSt. W. Bromley Ln. 6 Located at the convergence of Interstate 76 and the E-470 beltway Adams Crossing is a planned mixed-use development and major employment center. Anchored by the 91-acre Adams County Government Center and its 1200 employees plans call for up to 2 million square feet of commercial space and more than 1 million square feet of retail space. Just south of the 300-acre Vestas campus and in a regional Energy Corridor this area is part of a 3000-acre parcel for expedited development of sustainable industrial and advanced manufacturing firms. It has direct access to Highway 85 industrial rail utility service and a trained workforce. NORTH BRIGHTON EMPLOYMENT AREA SOUTH BRIGHTON EMPLOYMENT AREA Denver Town of Lochbuie Crown Prince Blvd.Prwn New Energy Dr. Ave. BuckleyRd. E. Bridge St. Barr Lake 50th Ave. 7 Downtown Brighton is undergoing a renaissance with new retail residential educational and cultural investments. The South Main Realignment project is opening up prime downtown properties for mixed-use restaurant lodging and hotel conference center development. This will be a bustling retail gateway at the confluence of Bromley Lane Highway 85 and South Main Street. DOWNTOWN URBAN RENEWAL AREA Located just 22 minutes northeast of Downtown Denver near the intersection of I-76 and E-470 Prairie Center is a 2000 acre mixed-use development with residential office and retail uses. Current anchors include Dicks Sporting Goods Home Depot JC Penny Lowes and Super Target. SOUTHEAST BRIGHTON REGIONAL RETAIL CENTER DOWNTOWN BRINGING IT ALL TOGETHER Maybe you have tried the new sushi craft beer or burgers. Or you went on a family bike ride enjoyed a childrens story time explored an art opening or joined a quilting club. And who would miss Culturefest the Festival of Lights and year-round performances at the Armory Performing Arts Center Downtown Brighton is bringing people together. New businesses are not only setting up shop they are inviting people in to learn new things and meet new people. They are co-marketing with other businesses to keep things interesting and they are contributing to larger community events. The Brighton Downtown Initiative started eight years ago and it is going strong. In the works are new events big improvements to downtown parking and a major entry at South Main and Bromley Road. Welcome New Businesses Anytime Fitness Creative U Cox Ranch Originals Fashion Exchange Innovative Realty Las Tres Lunas Mexican Restaurant Mile High Buy My Angel Thrift Shop Papa Johns Pizza Pho 81 South Philly Cheesesteak Sunrise Sushi Cuisine Western Summit 8 A driving force behind our downtown reinvestment is the Downtown Partnership Committee DPC a membership organization that advocates for Downtown through business recruitment and support economic development marketing and special events. The DPC meets on a monthly basis to discuss and make recommendations for current happenings and upcoming projects. For more information about the Downtown Initiative contact Gary Montoya at 303.655.2217 or Urban renewal redevelopment projects bring safety productivity and renewed life to urban areas. Colorado Municipal League Co-chair - Gary Plock Pinocchios Italian Restaurant Owner Co-chair - Blake Bischoff Blake Bischoff State Farm Insurance Owner Gary Montoya Staff Lead Special Events Downtown Initiative Manager Jac Cuney Brighton Urban Renewal Authority Joni Fields Joonbugz Kids Boutique Owner Barbara Lambert Lambert Realty Owner Wayne Scott Colorado Classified School Employees Association Mark Humbert Brighton City Council Ken Kreutzer Brighton City Council Lisa Gabbert Creative U Owner Judee Dickinson Main Street Creatives Mark Heidt City of Brighton Parks and Recreation Peter Phibbs Treads Bicycle Shop Felix Vasquez Stakeholder Gail Ashley Brighton Police Department Kathy Wardle Brighton Cultural Arts Commission Patricia Reither Brighton Historical Preservation Commission Teri Sanchez Brighton Small Business Development Center Dedee Harris The Pink Door Owner Sandi Jenkins Milagros Soap Company Owner Joan Cox Cox Ranch Originals Owner Shelby Oliver Almost Home Crystal Nelson MetroWest Newspapers 9 DOWNTOWN PARTNERSHIP COMMITTEE BURA STAFF 10 BURA BOARD OF COMMISSIONERS The Brighton Urban Renewal Authority BURA Board of Commissioners and staff are experienced professionals in business economic development education and local government. Our Mayor and City Council have also provided sustained leadership and a get it done attitude. Kevin Kildow Treasurer Business Relationship Manager Wells Fargo Bank Candace Werth Vice Chair Deputy District Attorney Jefferson County Troy Hageman Commissioner CEOCFO REMAXMomentum Dave Rose PastChairman Retired Principal Northeast Elementary School Richard Gonzales Chairman Retired District Representative United Power Jac Cuney Director Redevelopmentand DevelopmentProjects Linda Gonzales Assistant to the Executive Director Manuel Esquibel CityManager BURA ExecutiveDirector Marv Falconburg AssistantCityManager forDevelopment Gary Montoya Special Events and Downtown Initiative Manager 11 SPECIAL THANKS TO BRIGHTON CITY COUNCIL Richard Dick McLean Mayor Kirby Wallin Mayor Pro-TemWard 1 Joan Kniss Ward 1 Rex Bell Ward 2 Cynthia A. Martinez Ward 2 Lynn Baca Ward 3 Ken Kreutzer Ward 3 J.W. Edwards Ward 4 Mark Humbert Ward 4 Elias Huerta Commissioner EH Landscaping Wayne Scott Alternate Executive Director Colorado Classified School Employees Association Joni Fields Commissioner Owner Joonbugz Kids Boutique Mark Humbert City Council Representative Editor Publisher Banner Press Local Color Janet Hepp-Struck Commissioner Realtor Managing Broker Hepp Realty LLC - Metro Brokers Marcus Garcia House Coordinator Armory Josh Garcia AudioVisual TechnicianArmory Paul Benedetti Legal Advisor The Brighton Urban Renewal Authoritys mission is to encourage investment and reinvestment within targeted areas of the community while strengthening the tax base of the whole city and growing the areas job base. BURA leverages resources and partnerships to deliver high quality community improvements. If you or your business would like to know more about what is happening in the Brighton urban renewal areas or in Downtown Brighton call 303.655.2066 email or visit Photos courtesy of Chris Schneider and Rich Vossler BRIGHTON URBAN RENEWAL AUTHORITY