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| 2006 LURA Audit "The sales tax increment has not generated any revenue for LURA to date due to declining sales tax revenue within the project area (downtown)." READ THE REPORT |
| McWhinney's Myth Urban Retail Sprawl Helps Downtown? |
| Chad McWhinney explains to the audience at the Chilson Center during his "get-the-facts" campaign that downtown business sales have increased sales by 37% |
Loveland, September 22, 2007
After failing to obtain City Council approval for a taxpayer funded trolley for their proposed
Grand Station, McWhinney has embarked on an aggressive public relations campaign to convince
Loveland residents of the benefits in subsidizing McWhinney projects through future taxes.
During two community forums and a presentation made to the Loveland City Council last August,
Chad McWhinney was peppered with questions regarding the impact of his growing publicly
subsidized sprawl near I-25 has on downtown Loveland. His key argument doesn’t appear
based in fact but relies on false assertions his organization uses regularly in their public relations
campaign.
Chad McWhinney has stated that downtown Loveland retail sales are up as a result of his
developments near I-25. Anecdotally, he mentioned eating at the Chop House recently in
downtown and said their business was up 37% along with other businesses downtown Loveland.
In other forums the he offered the "fact" that downtown Loveland revenue has only grown steadily
since he began developing Centerra.
According to the Loveland Urban Renewal Authority (LURA) 2006 status report and audit
downtown has been lossing ground since 2002. This report was provided to the Loveland City
Council who also serve as the directors of the LURA.
The offical report states, “The sales tax increment has not generated any revenue for LURA to
date due to declining sales tax revenue within the project area [downtown].� The report goes
on to explain how sales dropped precipitously in downtown Loveland in 2003 and 2004. While
slightly up in 2005 and 2006, downtown Loveland sales have not recovered to the 2002 levels
and remain low.
In 2002, the total sales tax revenue collected in downtown Loveland was $1,280,250. By 2004
the downtown sales tax revenue was $1,196,900, down $83,350 or 6.5%. This is very
significant since Loveland’s population grew considerably during this same period yet sales
tax revenues for downtown decreased and remain well below the $1,280,250 level it reached in
2002.
In responding to another question during their presentation to the community last month regarding
impacts to downtown Loveland the newly proposed Grand Station might create, Rocky Scott
(McWhinney employee) stated that in every community they studied the downtown businesses
experienced an increase in sales when newer “upscale� shopping experiences were created
in the town. Why didn’t they study Loveland?
After failing to obtain City Council approval for a taxpayer funded trolley for their proposed
Grand Station, McWhinney has embarked on an aggressive public relations campaign to convince
Loveland residents of the benefits in subsidizing McWhinney projects through future taxes.
During two community forums and a presentation made to the Loveland City Council last August,
Chad McWhinney was peppered with questions regarding the impact of his growing publicly
subsidized sprawl near I-25 has on downtown Loveland. His key argument doesn’t appear
based in fact but relies on false assertions his organization uses regularly in their public relations
campaign.
Chad McWhinney has stated that downtown Loveland retail sales are up as a result of his
developments near I-25. Anecdotally, he mentioned eating at the Chop House recently in
downtown and said their business was up 37% along with other businesses downtown Loveland.
In other forums the he offered the "fact" that downtown Loveland revenue has only grown steadily
since he began developing Centerra.
According to the Loveland Urban Renewal Authority (LURA) 2006 status report and audit
downtown has been lossing ground since 2002. This report was provided to the Loveland City
Council who also serve as the directors of the LURA.
The offical report states, “The sales tax increment has not generated any revenue for LURA to
date due to declining sales tax revenue within the project area [downtown].� The report goes
on to explain how sales dropped precipitously in downtown Loveland in 2003 and 2004. While
slightly up in 2005 and 2006, downtown Loveland sales have not recovered to the 2002 levels
and remain low.
In 2002, the total sales tax revenue collected in downtown Loveland was $1,280,250. By 2004
the downtown sales tax revenue was $1,196,900, down $83,350 or 6.5%. This is very
significant since Loveland’s population grew considerably during this same period yet sales
tax revenues for downtown decreased and remain well below the $1,280,250 level it reached in
2002.
In responding to another question during their presentation to the community last month regarding
impacts to downtown Loveland the newly proposed Grand Station might create, Rocky Scott
(McWhinney employee) stated that in every community they studied the downtown businesses
experienced an increase in sales when newer “upscale� shopping experiences were created
in the town. Why didn’t they study Loveland?