Littleton voters will decide in November if the city of Littleton gets to keep excess money it made in fiscal year 2016 for road and safety improvements, or if it must return that money to Littleton residents.
The city of Littleton generated more revenue than expected in 2016 and under the Taxpayer Bill of Rights, or TABOR, it’s up to residents to decide who gets to keep the extra money.
If voters allow the city to keep the extra money, the city plans to spend $1,392,904 repaving residential streets and $545,000 on safety improvements to the intersection of West Bowles Avenue and South Federal Boulevard.
Voters will also be asked if they want to adjust the base used for calculating the TABOR limit. The city said if voters approve the question, the revenue base will be updated to the 2016 level. If voters don’t approve the question, the city said there will likely be excess revenues in future years, which cannot be spent to meet city needs.
Colorado passed groundbreaking reforms on payday lending in 2010 that were held up as a national model. But a group that opposes abusive lending tactics says borrowers and businesses that make the high-interest loans increasingly are maneuvering around the law.
Payday loans — characterized by high interest rates and fees and short payment periods — are disproportionately made to those living in low-income neighborhoods and communities of color, and military personnel living paycheck to paycheck, according to the Colorado attorney general’s office. Many borrowers get trapped in cycles of debt when they keep borrowing to make ends meet.
A 2010 state law put strict rules on lending that limited the amount consumers could borrow, outlawed renewing a loan more than once and gave borrowers six months to repay. The law drastically reduced the amount of borrowing from payday lenders – dropping it from 1.5 million loans to 444,333 from 2010 to 2011 – and Colorado was hailed as a leader in regulation for an issue that had bipartisan support.
As Bullfrog Wine & Spirits general manager Josh Beard glances out of his office window, he notices three gas station convenience stores and one of Colorado’s largest grocery stores.
All four establishments in Beard’s periphery from the North Fort Collins liquor store will soon become Bullfrog’s competitors as Colorado’s alcohol laws are overhauled with the most significant changes since Prohibition.
The low-alcohol beer currently stocked at grocery and convenience stores across Colorado is scheduled to become extinct in 2019, when retailers currently capped at selling 3.2 percent alcohol beers will be allowed to sell full-strength beer and malt beverages like Mike’s Hard Lemonade and Smirnoff Ice.
That means the state’s approximately 1,600 liquor stores are expecting to see double the competition within two years.