[bouldercouncilhotline] Hotline: Uni Hill Moratorium-1st Reading Question

[cmosupport at bouldercolorado.gov]

Sender: Cowles, Macon

The EPS economic analysis shows that under current conditions including land and rent prices, commercial redevelopment of the Hill is uneconomic. While UHGID provided parking would improve the feasibility somewhat, commercial redevelopment still
 is a losing proposition under current conditions, and so we cannot expect it to occur until conditions change.


This does not mean that commercial development will continue to be uneconomic in the future, correct?


Certain tax credits or other incentives would be available to property owners if the Hill were designated as a Historic District. But such incentives were not mentioned in conjunction with EPS economic analysis. Would such tax credits and other
 incentives make commercial development financially feasible in the near term?


Thanks.












Macon Cowles
Boulder City Council Member





1726 Mapleton Ave.








Boulder, Colorado 80304
CowlesM at bouldercolorado.gov
(303) 447-3062
(303) 638-6884