Our presentation focused on five basic realities:
1. The purpose of the URA is to:
- Renovate/Redevelop deteriorated/outdated retail buildings;
- Reduce the retail vacancy rate in the area;
- Improve the Property Values in the area; and
- Improve the Tax Base of the City.
This is exactly what our Plan is designed to do!
2. While the Jefferson County side of the URA has seen its property values increase over 400% over the last five years, the Adams County side has actually lost value during this same time period and is deserving of investment from the URA;
Phase 1 of our Plan is to put our Local Foods Retail Center into a former 29,000 SF Albertsons within the Hidden Lake Shopping Center in the Adams County side of the URA.
3. Coloradoans spend over $9 Billion each year on Groceries. While only about 14% of our food dollars spent at Walmart, King Soopers or Whole Foods stay in Colorado, with Local Foods, 100% of every food dollar spent by Coloradoans stays in the State and our Communities.
Our Plan is a true Local Economic Development Driver.
4. There have been several millions of dollars in excess Incremental Sales Tax Revenues generated within the South Sheridan URA through purchases made by local citizens that have been retained by the City, put into the General Fund and spent else where in the City.
Leave our excess Incremental Sales Tax Revenue in the URA and use those millions of dollars to revitalize the area like they were supposed to be used.
5. The City has millions of dollars of excess General Fund dollars available to be spent on projects such as ours.
The money is there. We have the Plan. We have the public support!