Attachment 6

Presentationtostakeholders2014

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UrbanRenewalAuthority(“URA”)
ƒ C.R.S.§3125101etseq.
ƒ Planwillaffordmaximumopportunity,consistentwiththesoundneedsofthe

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municipalityasawhole,fortherehabilitationorredevelopmentoftheurban
renewalareabyprivateenterprise.(URAstatute– §3125107(4)(c))

PowersofURA
ƒTaxIncrementFinancing(TIF)
ƒ Carryout"urbanrenewalprojects;"
ƒ Planstoassistthemunicipality...toeliminateandpreventthedevelopmentor

spreadofblightedareastoencourageneededurbanrehabilitation
ƒ Providefortheredevelopmentofsuchareas
ƒProvidingpublicimprovements
ƒ Encouragingrehabilitationandrepair
ƒMayownoroperatepropertyforpublicuseswhichareinaccordancewiththeurban
renewalplan;transferpropertytomunicipalityorotherpublicentityforsame.

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Attractprivateredevelopmentinvestment
StrengthenDowntowndestinationappealforvisitors
Createsasafer,moreattractiveenvironmentfor
pedestrians
ƒ Completesidewalkconnectivityanduniformlighting
ƒ UniformqualityandinterconnectionofOak,Lincoln
andYampaStreetsandenhancedesirabilityofcross
streets.
ƒ ConnectHowelsen recreationandYampaRiver
amenitieswiththeDowntowncommercialdistrict

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AssessedValuationChangeovertheTIF
periodatthebaseareavs.theCityof
SteamboatSprings

SSRA
2005 $87,623,620
2006 $91,146,680
2007 $138,409,890
2008 $139,380,710
2009 $224,929,551
2010 $235,950,090
2011 $176,890,362
2012 $177,116,908
2013 $146,831,980

Steamboat
$441,747,060
$453,745,020
$660,041,770
$678,301,053
$905,524,454
$910,577,682
$699,183,508
$697,768,530 SSRAIncrease SteamboatIncrease
$596,938,833
68%
35%

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Currently,thepropertytaxbaseintheproposedplanAreais
approximately$2,254,457.Duringthe25yearstatutoryperiod,the
County’sshareofpropertytaxrevenuewillbederivedfromitslevy
againstthebaseassessedvalue approximately$21.4millionover
the25yearperiod,or$856,000annually(onaverage)adjustedfor
generalreassessments.Afterthe25yearanalysisperiodis
completed,theCounty’sshareofpropertytaxrevenuesare
projectedtoincreasetoapproximately$958,000onanannual
basis.Thesefiguresreflecttheimpactsofinflation,conservatively
estimatedatapproximately1%onanannualbasis.
TheCountyandSchoolDistricteachrepresentcloseto50%ofthe
currentmilllevy.
Bothentitieswouldbeimpactedbythediversionof$1,000,000of
propertytaxoverthe25yearperiod.

Year
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038

PROJECTEDTAXABLESALESINAREA
CountySales
DowntownTaxable TaxableSales TaxwithURA
SaleswithURA
WithoutURA
(1%)
$87,764,875 $87,764,875 $877,649
$89,917,525 $88,642,525 $899,175
$90,829,450 $89,528,950 $908,295
$93,077,250 $90,424,250 $930,773
$94,034,575 $91,328,475 $940,346
$96,382,075 $92,241,775 $963,821
$97,387,300 $93,164,175 $973,873
$99,839,250 $94,095,825 $998,393
$100,895,075 $95,036,775 $1,008,951
$103,456,475 $95,987,150 $1,034,565
$104,565,750 $96,947,025 $1,045,658
$105,687,575 $97,916,500 $1,056,876
$106,822,175 $98,895,650 $1,068,222
$107,969,650 $99,884,625 $1,079,697
$109,130,200 $100,883,475 $1,091,302
$110,303,975 $101,892,300 $1,103,040
$111,491,125 $102,911,225 $1,114,911
$112,691,850 $103,940,325 $1,126,919
$113,906,275 $104,979,750 $1,139,063
$115,134,600 $106,029,525 $1,151,346
$116,377,000 $107,089,825 $1,163,770
$117,633,650 $108,160,725 $1,176,337
$118,904,700 $109,242,325 $1,189,047
$120,190,375 $110,334,750 $1,201,904
$121,490,850 $111,438,100 $1,214,909
38.43%
26.97%
$26,458,836
20142038increase

CountySales
TaxWithout
URA(1%)
$877,649
$886,425
$895,290
$904,243
$913,285
$922,418
$931,642
$940,958
$950,368
$959,872
$969,470
$979,165
$988,957
$998,846
$1,008,835
$1,018,923
$1,029,112
$1,039,403
$1,049,798
$1,060,295
$1,070,898
$1,081,607
$1,092,423
$1,103,348
$1,114,381 ProjectedadditionalCountysalestaxwithURA
$24,787,609 $1,671,227

• Objectivetonightistodetermineamountofsalestaxincrementtogointo
theplanarea.
• 50%or2centsonneweverydollarwouldamountto$9,000,000in
incrementalsalestaxgoingtotheplanareaoverthe25yearperiod.
• 37.5%or1.5centsoneverynewdollarwouldamountto$6,700,000in
incrementalsalestaxgoingintotheplanareaoverthe25yearperiod.

CityofSteamboatSprings
CitySalesTaxCollectionsfromDowntownArea

PROJECTEDTAXABLESALESINAREA

Year
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038

DowntownTaxable
SaleswithURA
$87,764,875
$89,917,525
$90,829,450
$93,077,250
$94,034,575
$96,382,075
$97,387,300
$99,839,250
$100,895,075
$103,456,475
$104,565,750
$105,687,575
$106,822,175
$107,969,650
$109,130,200
$110,303,975
$111,491,125
$112,691,850
$113,906,275
$115,134,600
$116,377,000
$117,633,650
$118,904,700
$120,190,375
$121,490,850
38.43%
20142013increase

TaxableSales
WithoutURA
$87,764,875
$88,642,525
$89,528,950
$90,424,250
$91,328,475
$92,241,775
$93,164,175
$94,095,825
$95,036,775
$95,987,150
$96,947,025
$97,916,500
$98,895,650
$99,884,625
$100,883,475
$101,892,300
$102,911,225
$103,940,325
$104,979,750
$106,029,525
$107,089,825
$108,160,725
$109,242,325
$110,334,750
$111,438,100
26.97%

CitySalesTax
withURA(4%)
$3,510,595
$3,596,701
$3,633,178
$3,723,090
$3,761,383
$3,855,283
$3,895,492
$3,993,570
$4,035,803
$4,138,259
$4,182,630
$4,227,503
$4,272,887
$4,318,786
$4,365,208
$4,412,159
$4,459,645
$4,507,674
$4,556,251
$4,605,384
$4,655,080
$4,705,346
$4,756,188
$4,807,615
$4,859,634
$105,835,344

CitySalesTax
WithoutURA
(4%)
$3,510,595
$3,545,701
$3,581,158
$3,616,970
$3,653,139
$3,689,671
$3,726,567
$3,763,833
$3,801,471
$3,839,486
$3,877,881
$3,916,660
$3,955,826
$3,995,385
$4,035,339
$4,075,692
$4,116,449
$4,157,613
$4,199,190
$4,241,181
$4,283,593
$4,326,429
$4,369,693
$4,413,390
$4,457,524 ProjectedadditionalCitysalestaxwithURA
$99,150,436 $6,684,908

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StreetscapeimprovementsonYampaStreet
Sidewalkconnectivitythroughoutdowntown
includingsidestreetsandOakStreet
StreetscapeimprovementsonOakStreet–
sidewalks,pedestrianlighting
TrafficcalmingimprovementstoYampaStreet
Multimodelimprovementsthroughout
district
PublicRestrooms

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