City Council, February 17, 2026
Approves Business Assistance Agreement for Costco at Parcel 504, 8-1 (Rothberg opposed)
What happened
The Loveland City Council approved a major business assistance agreement with Real Berry (formerly McWinney) to bring a Costco to Parcel 504 at US 34 and Centerra Parkway, with a 1.25% sales tax share capped at 25 years and $25 million in bond proceeds.
- Jurisdiction
- Loveland, CO
- Governing body
- Final authority
- Date
- February 17, 2026
- Decisions
- 5 zoning decisions
- Outcome
- Approved, 8-1 (Rothberg opposed)
Free sample: decision 1 of 5
Business Assistance Agreement for Costco at Parcel 504
Council approved Resolution R-10-2026 for a business assistance agreement with Real Berry to bring Costco to Parcel 504 at US 34 and Centerra Parkway. The agreement includes a 1.25% sales tax share pledged to metro district bonds, capped at 25 years or $25 million in bond proceeds, whichever comes first. The city will construct Kendall Parkway (estimated $14 million) and receive a $2 million contribution from Real Berry. Projected to generate $125 million over 25 years plus waterfall revenues.
- 1.25% sales tax share capped at 25 years or $25 million bond payoff; $300,000 annual cap for dry utilities and fees up to $6.5 million total; agreement terminates if Costco doesn't go vertical within 2 years; credit PIF commences upon Costco certificate of occupancy
The other decisions are listed below by title. The full write-up, verbatim conditions, and the audio at each vote are in Pro.
Meeting Summary
The Loveland City Council approved a major business assistance agreement with Real Berry (formerly McWinney) to bring a Costco to Parcel 504 at US 34 and Centerra Parkway, with a 1.25% sales tax share capped at 25 years and $25 million in bond proceeds.
Key Decisions (5)
Business Assistance Agreement for Costco at Parcel 504
City Manager Compensation Increase
City Attorney Compensation Increase
Municipal Judge Compensation Increase
Executive Compensation Framework Motion
Development Activity (2)
Costco at Parcel 504
Commercial
1800 Cascade Avenue Apartments
Residential
Market Signals (4)
Commercial Demand
Costco identified Northern Colorado as a growth market with 35,000…
Housing Demand
Residents expressed concerns about rapid residential development along Cascade Avenue…
Infrastructure
City acknowledged $4.5 million annual capital improvement budget is insufficient…
Sentiment
Multiple residents expressed distrust regarding transparency in city dealings with…
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