CO SB177

Amends Colorado Revised Statutes 31-25-107 to modify notification and negotiation requirements for urban renewal plans that allocate tax revenues from other public bodies.

Requires municipalities to notify affected taxing entities (counties, special districts) and negotiate agreements on sharing of incremental property tax revenues allocated to urban renewal authorities within 120 days.

Establishes mandatory mediation process if parties fail to reach agreement within 120 days, with mediator selection procedures and requirement that mediators be attorneys licensed for at least ten years with land use and administrative law experience.

Specifies that following mediator's findings, the municipality may incorporate findings into the plan, delete unauthorized revenue allocations, or direct the authority to negotiate new intergovernmental agreements.

Provides that nothing in the amended statute impairs existing bonds, investments, loans, contracts, or financial obligations of urban renewal authorities or pledged revenues outstanding as of December 31, 2015.