The MFA sets forth in considerable detail the terms and conditions under which the Loveland Urban Renewal Authority (LURA) has pledged to the Service District all of the property tax increment revenues, with two minor exclusions,  that LURA would begin receiving after January 20, 2004, and ending on January 20, 2029, from the Original URA Plan Area.

The MFA also grants the Developer a credit against the collection of the City’s sales tax equal to 1.25% of all retail sales that will be made within the Original URA Plan Area (“Sales Tax Credit”).  However, in place of this Sales Tax Credit, the MFA requires the Developer to impose on all the real property in the Original URA Plan Area, by a recorded real estate covenant, a 1.25% Public Improvement Fee (“PIF”) on all retail sales in the Original URA Plan Area (“PIF Covenant”).

More detail regarding the LURA and the MFA's background, history, and a brief explanation of each amendment can be read at this link to the 2014 Memorandum to City Council.

2004 - Master Financing and Intergovernmental Agreement (MFA)

2006 - 1st Amendment to the MFA

2007 - 2nd Amendment to the MFA

2008 - 3rd Amendment to the MFA

2009 - 4th Amendment to the MFA

2013 - 5th Amendment to the MFA

2014 - 6th Amendment to the MFA

2016 - 7th Amendment to the MFA

2016 - Minor Modification to the 7th Amendment

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