Loveland voters repeal city’s grocery tax, demand final say over urban renewa
In Loveland, a community of about 78,000 people just an hour north of Denver, two citizen-initiated ballot measures that were squarely aimed as backlash over a new private development using taxpayer subsidies to build, were passing handily as of Wednesday morning. At the same time, two other city council/fire authority-initiated initiatives to counter those measures, were being defeated.
Ballot question 300 (14,986 yes to 7,861 no) will remove a 3 percent sales tax on the retail sales of food for home consumption, while ballot question 301 (15,642 yes to 6,768 no) will require voter approval for future urban renewal projects (URA).
The charter changes came about because proponents lost an earlier fight to stop the South Centerra urban renewal development, which uses tax increment financing (TIF) as a funding mechanism.
Under the South Centerra agreement, the city will give up 1.75 percent of all sales tax revenue from retail within the development for 25 years to help with the infrastructure on the project.
Now, with the passage of 300, the city will also lose a 3 percent on all food purchases city-wide, which is a major blow to the Centerra South subsidies because the anchor store on the project is a Whole Foods.
The repeal means about a $500 yearly savings for the average family of 4, but an estimated $10.5 million annual loss to the city.
Ballot question 301 requires voter approval before any new urban renewal areas (URAs) are approved in the city, which could effectively stop another 750 acres of land adjacent to South Centerra which is expected to be developed under a separate URA.