On Election Day November 5, more than 80% of eligible voters approved Measure 6A, a key milestone in renewing and expanding the Downtown Denver Development Authority (DDDA). The DDDA’s renewal and expansion paves the way for revitalization in Denver’s center city, bringing catalytic investments in areas like housing, mixed-use development, neighborhood amenities, parks and public spaces, arts and culture, and connectivity.
“The Downtown Denver Partnership could not be more proud that voters said ‘yes’ to expanding and renewing the Downtown Denver Development Authority, unlocking upwards of $600 million for investment in a bold, bright future for our center city at this pivotal moment in time,” said Kourtny Garrett, president & CEO of the Downtown Denver Partnership. “As we engaged with the electorate to educate on the measure, we were heartened to not only find strong support for 6A, but also widespread optimism for downtown from residents and businesses alike. The passage of 6A represents both an exciting milestone for the renewal and expansion of the Downtown Denver Development Authority and a vote of confidence in our future from our downtown community.”
Ballot Measure 6A asked property owners, lessees and renters to approve an additional $570M loan to be repaid by tax increment financing (TIF) specifically for investment in downtown revitalization. The existing DDDA will repay its loans for the redevelopment of Denver Union Station and Market Station at the end of the year – 15 years earlier than planned – offering the opportunity to expand the Authority’s boundaries and make new catalytic investments.
The passage of 6A is one of several approval processes to complete the renewal and expansion of the DDDA. Later this month, Denver City Council is expected to weigh in on the DDDA Plan of Development, the legal framework that guides the how the expanded Authority is managed and governed, what types of projects can be funded, and what outcomes should be sought based on existing economic conditions.
More information on the renewal and expansion of the DDDA can be found at denvergov.org/DDDA.
