The Longmont Downtown Development Authority petitioned the Longmont City Council to expand its boundaries on Tuesday night.
LDDA asked the council to approve expanding its boundaries to include 704 Main St. The property is slated to be re-developed and is expected to generate additional property taxes for LDDA’s property fund, according to council communication.
LDDA’s purpose is to assist in the development and redevelopment of the downtown area. The district is funded through Tax Increment Financing and 5 mill levy on property within the district.
The LDDA boundary was expanded in 2008, 2017, and 2022, which brought in a number of properties north of Longs Peak Avenue, according to the council communication.
The owner of 704 Main St. petitioned LDDA to be included in its district in July. LDDA’s board of directors adopted and approved a resolution that supports the inclusion on Aug. 23.
The Longmont City Council unanimously approved the inclusion on Tuesday night.
