NO to a NEW Economic Burden
Redtail Ridge is NOT a NET POSITIVE for our community. It creates NEW Economic Burdens.
Louisville can’t fill existing Commercial and Industrial space.
Louisville has 6.6 Million square feet of commercial and industrial space, much of which is undeveloped or vacant.
Louisville already has two existing industrial parks: Colorado Tech Center (CTC) and Centennial Valley with many vacancies and commercial pads available.
After 20 years, over 20% of land in Centennial Valley remains undeveloped and nearly 7% of land in the CTC is also undeveloped.
Many buildings in the city remain vacant and many lots remain available for development (e.g. Alfalfa's, Kohl’s, Outback, Carabba’s).
Redtail Ridge will siphon tenants from Louisville's existing commercial and industrial property.
At 80% buildout - which could take 20+ yrs. - annual net fiscal benefit is $1.2M. This revenue is negligable when compared with environmental and quality of life impacts of this massive development.
Industrial parks do not significantly contribute to the Louisville's tax base and economy.
Louisville derives the Majority of its Revenue from Sales Tax.
Redtail Ridge employees will be closer and have easier access to Broomfield which is where promised retail sales tax benefits will accrue.
The net fiscal impact of $1.2 Million is a projection based on achieving 80% buildout which may take years or may never happen.
The net fiscal impact of $1.2 Million in annual tax revenue Does Not Account for Tax Incentives that Louisville routinesly offers to new businesses.
Previous developments have fallen short of their projected positive fiscal impact and end up increasing taxpayer burden for infrastructure improvements and maintenance.
An Unfunded Mandate
The Developer’s traffic study calls for Numerous Transportation Improvements to accommodate the Sprawling Development as 20,000+ new car trips overwhelm local roads, especially 96th Street north of Dillon.
The Louisville City Council IGNORED Staff Recommendation to REQUIRE THE DEVELOPER to PAY for all these improvements
Taxpayers are on the hook to fund the most expensive road improvements: widening 96th St north of Dillon where it crosses over the railroad track and the NW Pkwy/36 interchange (see Sec13 of signed ordinance). https://www.louisvilleco.gov/home/showpublisheddocument/33708/637780149778130000
Louisville's Long-range Plans Do Not Include ANY of the Improvements.
Louisville taxpayers will also be on the hook for long-term infrastructure maintenance and repair obligations.
Avista's FUTURE does not Depend on this Vote.
Avista Hospital is exploring Future Growth opportunities in Louisville. Redtail Ridge is JUST AN OPTION.
Avista has No Plan to Move Outside of Louisville.
According to an Avista Senior Executive, Regardless of the Election Outcome, Avista would "like to work with Louisville to explore the possibility of relocating to the site".
A NO VOTE means No New Economic Burden on Louisville Taxpayers.