Colorado Governor Ritter Signs Economic Development, Natural Resources Bills Into Law In Fort Collins

Article continues below...

May 21, 2008 -- FORT COLLINS -- Colorado Governor Bill Ritter signed three bills into law today during a ceremony in Old Town Square that promote downtown economic-development efforts in communities across Colorado and support water and wildfire initiatives at Colorado State University.

Senate Bill 170, sponsored by Sen. Bob Bacon and Rep. Bernie Buescher, gives the state's 11 Downtown Development Authorities a 20-year extension on their tax-increment financing contracts. Revenues will be split 50-50 between downtown areas and other districts.

"For years, Downtown Development Authorities like the one here in Fort Collins have been major engines for economic development throughout Colorado," Gov. Ritter said. "As I travel around Colorado, I see what these organizations are doing to support local businesses and local jobs and to preserve unique community character. Senate Bill 170 will ensure that vital work continues."

House Bill 1405 (Rep. Randy Fischer/Sen. Brandon Shaffer) provides the Colorado Water Institute at CSU with $500,000 in FY 08-09. The 43-year-old institute develops, implements and coordinates water research programs in the state, and transfers the results of that research to water users.

SB 232 (Sen. Jim Isgar & Sen. Dan Gibbs/Rep. Kathleen Curry) allows the legislature to make line-item appropriations to three CSU entities that work on wildfire and healthy forest initiatives: Colorado State Forest Service, the Agricultural Experiment Station Department and the CSU Cooperative Extension Service. The bill also directs $250,000 into the state Wildfire Emergency Response Fund, which provides reimbursement dollars to local agencies for firefighting expenses.

Source: Colorado Governor