Urban Renewal: Applicability of HB 15-1348

Urban Renewal Applicability of HB 15-1348 SB 17-279 Support Before governor Sens. Beth Martinez Humenik, R-Thornton, and Rachel Zenzinger, D-Arvada; Reps. Matt Gray, D-Broomfield, and Susan Beckman, R-Littleton Kevin Bommer kbommer@cml.org HB 17-279 will finally put to rest one of the largest problems created by HB 1348 in 2015, hastily drafted legislation in the waning days of the session that created paralyzing uncertainty for the issuance of debt for existing urban renewal plans. A task force put together by Gov. Hickenlooper in 2015-2016 produced legislation that corrected other significant flaws in HB 1348, but its applicability to urban renewal plans created prior to January 1, 2016 remains in doubt. SB 279 will finally address the issue directly, and ensure plans created before the effective date are grandfathered unless a decision is made to trigger a qualifying change that would apply the provisions of HB 1348.  The bill was drafted in conjunction with Colorado Counties, Inc. and the Special District Association after months of discussions. Even though the governor has 30 days to sign it, CML is pushing for a quick signature because there are deals ready to go as soon as the bill becomes law.