Community Conversation – Dec. 1, 21016

Community Conversation has been scheduled for Dec. 1st, 7:00pm at the Connections Room at 6520 S Broadway (just a couple doors south of Solid Grounds in the South Fellowship Church Center). Doors will be unlocked at 6:45 and meeting will end at 8:30. The subject for the evening will be Columbine Square.

If you are wondering:

-what is the connection between Columbine Square and the Columbine Square Urban Renewal       (UR) Plan,
-how did Columbine Square get in the condition it is in today,
-how our tax dollars can be diverted to subsidize the redevelopment of Columbine Square,
-where do those tax dollars come from,
-what is B-2 zoning and what does it have to do with Columbine Square redevelopment,
-what happens if the Columbine Square UR Plan is repealed,
-what happens if the UR Authority (LIFT) is abolished,
-do citizens have any voice in the redevelopment of Columbine Square,
-do the Englewood citizens have a voice,
-what happens on Dec. 6th regarding the future of Columbine Square?

We will attempt to answer all these questions and more. Come prepared with your questions.

We are on the final leg of our Food Drive for the 244th Heavy Artillery Army Reserve Families. Please show your support for the troops and bring something for them in the way of non-perishable food items. They are in need and cannot ask for help. They are so grateful for anything we provide from food items to disposable diapers to shampoo. What a small price to pay for what they do for us.

City Council Regular Meeting Citizen Minutes – 1 November 2016

Regular City Council Meeting       1 November 2016         Citizen Minutes

Citizen Comments

Paul Bingham spoke in favor of the Riverside General Planned Development (PD) located at 5000 and a portion of 4900 S Prince Street. (Consent Agenda item (h)) Continue reading

Update on Tax Credits for Low Income Housing

After doing some research I have learned that the tax credits awarded to property owners partnering with a housing authority are documents (form 8609) that entitle the holder a dollar for dollar reduction in their tax liability.  I am sure my terminology is not as it should but the concept is as I have described.

The property owners, that are awarded the tax credits by Colorado Housing and Finance Authority (CHFA), sell the tax credits to what they call a “syndicate,” a bank, or an investment group.  The purchase of the tax credits funds the project reducing the cost of building the low income housing (LIH) which will enable the property owner to charge less for the units.

In the case of Littleton Crossing, the CHFA awarded an annual $1,2400,000 tax credit for ten years for a total of $12,400,000 over the life of the tax credits.  (Maximum annual award is $1,2500,000)  The property will have to remain LIH for 40 years as there is some sort of land use agreement that is part of the tax credit award.

On the sales use tax that was addressed in HB16-1006, since Littleton is a home rule municipality the tax status of the low income housing project is dependent on past practices.  1006 states that LIH projects partnered with a housing authority are exempt from the sales use tax (taxes on the materials used to build the project) during the construction phase.  Legislative counsel for the state of Colorado has informed me that if the housing authority has not been paying use tax they will continue to be exempt from paying them.  If they have been paying the sales use tax then they will be expected to pay them unless the policy makers create a policy stating their desire to adopt the language of 1006.

I will update as I learn more about the tax status of South Metro Housing Options as I learn.