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| May 14, 2008 |
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Governor will sign finance bill in Old Town
FORT COLLINS -- Gov. Bill Ritter will appear in Old Town Square May 21 to sign Senate Bill 170, a measure that rescues the revenue source for the Fort Collins Downtown Development Authority.
Sponsors of the measure, including state senators Bob Bacon and Steve Johnson and house members Randy Fischer, John Kefalas and Don Marostica, all of Larimer County, steered the legislation through a fast-track process that led to final passage April 30.
Ritter will appear with city officials at 10:30 a.m. for the signing ceremony, one that will usher in a 10-year extension of the downtown agency's taxing authority to spur new development and other improvements in the district surrounding the Fort Collins core.
DDA Executive Director Chip Steiner said Ritter chose Fort Collins because it serves as one of the state's best examples of how tax-increment financing has paid for redevelopment and new projects in the urban center of the city.
Tax-increment financing, or TIF, is a widely used economic tool that permits agencies like the DDA to skim a portion of property taxes that rise with new development to distribute throughout the district to fund additional improvements.
The DDA's plan for a downtown amphitheater at the northwest corner of Mason Street and Mountain Avenue, a proposal that will cost at least $20 million, is an example of the projects that the new legislation makes possible.
Other Colorado cities that have special downtown taxing districts, including Greeley and Longmont, also will benefit from the new legislation. |
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Roche Constructors to build RE-4 school
GREELEY -- Roche Constructors Inc. has been awarded a $16.1 million contract by Weld RE-4 School District to build a new middle school in Severance.
Designed by RB+B Architects of Fort Collins, the 109,000-square-foot school will feature an outdoor classroom with geologic timelines, a "planet walk" cast in a colored concrete plaza and a 7,600-square-foot gymnasium. The 22-acre site will also include football, soccer, baseball and track-and-field facilities. RLH Engineering Inc. of Windsor is the owner's representative for the project.
Headquartered in Greeley, Roche Constructors has regional offices in Westminster and Las Vegas. The company specializes in education, public works, retail, industrial and commercial construction. |
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One more day to register for Mercury 100
FORT COLLINS -- Online registration to attend the annual Mercury 100 reception honoring the region's 100 fastest-growing companies ends on May 15. The event, presented by the Northern Colorado Business Report, will be held on May 20, from 5:30 to 7:30 p.m. at TST Engineering, 748 Whalers Way, Fort Collins.
Individual reservations for the cocktail and hors d'oeuvres reception may be made at www.mercury100.com until Thursday. Individual ticket cost is $35 for online reservations; tickets will be available at the door for $45. Companies may purchase tickets in blocks of five at a 10 percent discount for $158 by calling De Dahlgren, Business Report marketing manager, at 970-221-5400, ext 202.
This year, awards are being given to 50 companies with revenues over $2 million and 50 companies with revenues under $2 million. The top 10 in each category will be honored with special commendations.
In addition, rankings are now determined based on revenue growth between 2004 and 2007, to determine the companies with the most staying power in the market.
Another innovation this year is the Mercury 100 A-mazing Game, a bit of out-of-the-box business theater inspired by the unique venue for the event, TST Engineering. Attendees can win prizes by following clues that lead through the remarkable TST building to answer questions related to 2008 Mercury 100 honorees.
Sponsors of the 2008 Mercury 100 awards include Ehrhardt, Keefe, Steiner & Hottman, Guaranty Bank and TST Engineering. |
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national news
April foreclosures rise 65 percent on year: RealtyTrac
NEW YORK (Reuters) - U.S. home foreclosure filings in April edged up from March and were a whopping 65 percent higher than a year earlier, real estate data firm RealtyTrac said on Wednesday.
Deere profit higher, but outlook disappoints
CHICAGO (Reuters) - Deere & Co reported higher quarterly earnings on Wednesday as soaring crop prices boosted global demand for its agricultural equipment, but the company's forecast for the rest of the year disappointed Wall Street and its shares fell 9 percent.
GM will need over $9 billion in new financing: Lehman
DETROIT (Reuters) - General Motors Corp will need to raise over $9 billion in financing over the next two years to refinance existing debt and to offset projected cash losses in its auto operations in North America, Lehman Brothers analyst Brian Johnson said on Wednesday.
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