| Centerra Skirts Responsibility by Trying to Saddle RTA Plan With Its Own Obligations - Already Funded By Loveland Taxpayers? A December 2006 Amendment to the MFA (Master Financing Agreement) between the City Council and McWhinneys allowed Centerra to side-step their financial obligations if other monies are found. This amendment was not reported in the local media nor have Councilmembers publicly acknowledge the amendment. |
LovelandPolitics.com
Below is the comprehensive list of Centerra projects to be paid for using Loveland's future tax dollars through the
Metro Districts established by Loveland's City Council but controlled by McWhinney Enterprises. This controversial
agreement was to provide Loveland taxpayers certain road improvements in exchange for future sales and TIF (Tax
Increment Financing) through the Master Financing Agreement (MFA) signed between the City of Loveland and
Centerra. The agreement diverts taxes raised in the Centerra developments away from city services and back to the
developer in order to fund certain infrastructure improvements needed to accomodate the increased traffic associated
with the developments. The agreement has a term of 25 years.
Rich Shannon, an employee of McWhinney Enterprises, has been working fulltime both as a "citizen" member of the
RTA Steering Committee and behind the scenes to raise another area tax for "transportation" needs. According to
another member of the RTA Steering Committee, Shannon has devoted his time and energies on the committee trying
to include the same projects his company is obliged to complete per their 25 year financing agreement with the City of
Loveland.
Below is the complete list of the Centerra projects and highlighted in red, the same projects that are now being proposed
by the RTA Steering Committee to be funded through a regional tax collected from various communities throughout
Northern Colorado.
Involved citizens who tracked the process closely have informed LovelandPolitics.com that the "guiding principles" for
establishing the RTA would preclude spending local tax dollars on federal and state-maintianed highways.
Metro Districts established by Loveland's City Council but controlled by McWhinney Enterprises. This controversial
agreement was to provide Loveland taxpayers certain road improvements in exchange for future sales and TIF (Tax
Increment Financing) through the Master Financing Agreement (MFA) signed between the City of Loveland and
Centerra. The agreement diverts taxes raised in the Centerra developments away from city services and back to the
developer in order to fund certain infrastructure improvements needed to accomodate the increased traffic associated
with the developments. The agreement has a term of 25 years.
Rich Shannon, an employee of McWhinney Enterprises, has been working fulltime both as a "citizen" member of the
RTA Steering Committee and behind the scenes to raise another area tax for "transportation" needs. According to
another member of the RTA Steering Committee, Shannon has devoted his time and energies on the committee trying
to include the same projects his company is obliged to complete per their 25 year financing agreement with the City of
Loveland.
Below is the complete list of the Centerra projects and highlighted in red, the same projects that are now being proposed
by the RTA Steering Committee to be funded through a regional tax collected from various communities throughout
Northern Colorado.
Involved citizens who tracked the process closely have informed LovelandPolitics.com that the "guiding principles" for
establishing the RTA would preclude spending local tax dollars on federal and state-maintianed highways.
| Rich Shannon of McWhinney Enterprises (left) is the key lobbyist responsible for pushing the RTA proposed tax increase on behalf of McWhinney Enterprises to apparently limit the McWhinney's obligation to complete the same improvements with future tax dollars they will receive from Loveland. |
| List of Projects in Centerra 25 yr. Agreement With Loveland / Red Means the Project Is Now Proposed By RTA for Funding Also |
| Two sides of the RTA Steering Committee |
| Roger Hoffmann (on right wearing tie) and other RTA Steering Committee members hold a press conference in Ft. Collins June 12 outlining their reasons for opposing the "Majority" report and offering an alternative plan |