WHEAT RIDGE — A blighted, 15-acre tract of broken concrete and metal on the southwest corner of Wadsworth Boulevard and 38th Avenue is a jewel, some residents say, and Wheat Ridge would be foolish to squander it.
Whether or not that involves greenlighting a redevelopment proposal that would bring in an unnamed grocer along with residential and retail space on a defunct car lot has become an emotionally charged debate.
“Turn that property into an urban, proud jewel of Wheat Ridge,” said neighbor Patrick Gooch, who spoke in favor of the project at a Wheat Ridge City Council meeting Monday night. “Why wait another three or four years … Walmart or this “mystery grocer” is the largest employer in the world.”
The name of the tenant that would anchor the development has not been released, but the name “Walmart” came up repeatedly — without correction — as dozens of neighbors spoke.
“Why not get something more creative? Why fill it with national brands?” said Mary Ann Stork. “Think outside the box and make it a jewel for Wheat Ridge that brings traffic and new business.”
Ultimately council voted 7-1 late Monday to approve tax-increment financing for the site, which has four different owners.
Tax increment financing can fund redevelopment projects targeted at improving blighted areas. When improvements are made to the area, the value of the property goes up, and sales and property taxes are higher. Under the TIF plan, the “increment” of the increased tax collections goes to the developer, not the tax districts such as schools, government and first-responder agencies.
Tensions ran high during the meeting, with Mayor Joyce Jay asking the sometimes disruptive crowd not to clap or make comments to interrupt speakers. After the vote, representatives from site developer Quadrant were heckled in the hallway and police were summoned when a water bottle was thrown at — but missed — the group.
The vote doesn’t mean a development plan has been approved, and the city can still nix the project, said District 1 Councilman Jerry DiTullio, who voted “yes” after saying future tenants should pick up some of the redevelopment costs.
Current development plans outline 37 owner-occupied townhomes and 40,000 square feet of retail shops and restaurant space anchored by the 41,000-square-foot grocery store.
Di Tullio also echoed concerns about the city allocating tax dollars for a grocer that could “cannibalize” sales tax from other grocers and asked Quadrant president Bob Turner if any of the tax increment funds would be used to purchase the property.
“If you look at the numbers now, what you’ll find is we have not allocated any (tax increment financing) dollars for the purchase of this property even though the property is expensive,” Turner said.
Developer Quadrant stands to receive an estimated $7.8 million in tax incentives if the project goes through. That money would be to offset environmental cleanup costs and for public improvements, including new curbs, sidewalks, gutters and drainage.
City officials and representatives from Quadrant contend the contaminated site has been vacant for years for a reason: It’s a money pit no developer will invest in as is, they say, and without city assistance, it would continue to be unused.
“We spent many months approaching what we think is the edge of (the tenants) economic ability to do this deal,” Turner said, noting that without a large grocer as an anchor “this project wouldn’t stand a chance.”
Austin Briggs: 303-954-1729, abriggs@denverpost.com or twitter.com/abriggs
