The City of Sheridan and the Sheridan Redevelopment Agency partnered with Weingarten Realty to redevelop the River Point at Sheridan location. A Public Improvement Fee (PIF) of 1% was established to pay for the public improvements at River Point. These improvements included:
Open space and trails
Public roads and bridges
Public street lighting
Regional stormwater, water quality, and protection
The Public Improvement Fee is specifically a fee and not a tax; therefore it becomes a part of the overall costs of the sales and / or service and is subject to sales tax. Items or services normally exempt from sales tax imposed by the State of Colorado, Arapahoe County, or the City of Sheridan are subject to Public Improvement Fees and are required to submit a Public Improvement Fee Return Form (PDF).