# Stop The GID: Golden Triangle General Improvement District Fact-Check & 2026 Assessor Ledger

> Independent resident, condo HOA, and small-business analysis of the proposed Golden Triangle General Improvement District (GID) in Denver, Colorado. Backed by the certified 2026 City & County of Denver Assessor GIS roll across 1,137 study-area schedules on 383 parcel footprints ($4.67 billion appraised market value), Colorado Revised Statutes, Federal Reserve Bank of Philadelphia housing pass-through research, and IRS Form 990-PF filings (EIN 87-3195005).

Canonical URL: https://stopthegid.com/
2-Page "GID 101: True Facts" Sheet (HTML): https://stopthegid.com/fact-sheet
2-Page Printable Fact Sheet (PDF): https://stopthegid.com/fact-sheet.pdf
Study-Area GIS Map (SVG): https://stopthegid.com/study-area.svg
Last Updated: 2026-11-05

## Key Findings & Primary Public Records

1. **Paying Twice: How the Proposed $1.69M-$3.04M/Yr Tax Hits Renters, Condo HOAs, and Small Shops**
   - **Already Paid Monthly & Zero 10-Year Sunset**: Apartment rents and $450-$800/month condo HOA dues already pay private crews for trash, snow removal, sidewalk maintenance, landscaping, and building security. Under C.R.S. 31-25-611(1)(a) and 31-25-609, a GID has "perpetual existence," limited corporate powers (zero municipal police or code-enforcement power), and an unelected advisory board. Unlike commercial-only BIDs (which include a 10-year City Council renewal requirement, e.g., RiNo BID CB25-0640 Section 16), **0 of Denver's 6 enacted GID ordinances** (Broadway CB25-0917, Ballpark CB24-0766, Sun Valley CB22-0980, Gateway Village CB16-1041, RiNo CB15-0309, and 14th Street GID) contain a 10-year sunset or reaffirmation vote.
   - **What Is a "Mill" in Plain English (HB24B-1001)**: One mill equals **$1 of annual property tax per $1,000 of Colorado "assessed" value** (0.1% of assessed value, not market value). Colorado assesses homes and apartments at roughly **6.2%-7.3%** of market value (pure condos average ~6.15%; mixed-use apartment towers blend to ~7.3%) and commercial storefronts at **25%-26%** (nearly 4x higher). At 8.96 mills ($8.96 per $1,000 assessed), an average ~$520,000 Prado condo (~$32,000 assessed) pays **+$286/yr**, AMLI Golden Triangle ($122.4M market, $8.99M assessed) owes **+$80,570/yr (+$217/apt)**, and a $1.0M NNN cafe ($250,000 assessed) owes **+$2,240/yr**.
   - **Scale of Permanent Property Tax Hike**: Across the study area's certified $338,826,840 local taxable assessed base, the proposed GID adds **$1,694,134/yr** (at 5.0 mills), **$3,035,888/yr** (at the 8.96-mill South Broadway GID benchmark), or **$3,388,268/yr** (at 10.0 mills) permanently under C.R.S. 31-25-612. At 8.96 mills, that increases a Golden Triangle building's total Denver property tax rate (79.602 baseline mills) by **+11.3%** (+32.8% on top of Denver's 27.328 municipal mills, and +91% over the ~9.84-mill City General Fund share).
   - **Renters Do Pay: Lease Renewal Pass-Through (HB25-1090 & Philly Fed WP 25-41)**: Although P.U.M.A.'s Fact Sheet describes GIDs as "assessments on taxable properties," Colorado bans local rent control (C.R.S. 38-12-301), and **HB25-1090** (effective January 1, 2026) prohibits landlords from itemizing property taxes or common-area maintenance (CAM) as separate monthly portal fees. Corporate apartment REITs therefore fold $80,570 to $113,549 annual GID tax bills on large apartment towers directly into **Base Rent at lease renewal** (Federal Reserve Bank of Philadelphia Working Paper 25-41 finds **$0.50 to $0.89 of every $1** in property tax hikes is passed onto tenants).
   - **Nearly 4x Commercial Assessment on Ground-Floor Cafes & Shops (HB24B-1001)**: Colorado assesses commercial space at 25%-26% versus ~6.2%-6.8% local-government residential (~3.7x-4x higher per dollar of value), and standard Triple-Net (NNN) retail leases pass 100% of GID taxes onto independent restaurants, galleries, and shops on top of Denver's 9.15% sales tax.

2. **Certified Central Denver GID Assessor Comparison: Commercial vs. Residential Share**
   - P.U.M.A.'s Fact Sheet cites Ballpark and South Broadway GIDs as comparable examples. Certified 2026 City & County of Denver Assessor records show the opposite: commercial property pays **72.6%-100% of the tax bill** in every active urban Denver GID, whereas Golden Triangle would be **the only majority-residential urban GID in Denver** (Denver's only other majority-residential GID is Gateway Village GID [1994, 10.500 mills, $37.3M base], a far-northeast greenfield subdivision near Denver International Airport built from raw land before homes existed).
   - **Why a GID Instead of a Commercial BID (C.R.S. 31-25-1203(2) & 31-25-1208)**: Under Colorado's Business Improvement District statute, residential apartments and condos are **100% exempt and pay $0**. Choosing a GID shifts **53.2% of the tax bill** onto **5,843 taxable apartments, 687 residential condos, and 88 rowhomes** (6,618 taxable homes; 6,740 total residential homes including 122 exempt affordable apartments), which make up **79.9% (~80%) of all non-exempt market value ($2.59B residential vs. $650.9M / 20.1% commercial)**.

| Central Denver GID District | 2026 GIS Taxable Base | Commercial Share (Assessed) | Residential Share (Assessed) | 2027 Levy & Precedent |
| :--- | :--- | :--- | :--- | :--- |
| **Broadway Denver GID (S. Broadway)** | $111.7M | **84.1% Commercial** | 15.9% Residential | Active (8.960 mills; petition flyers to every resident + 3 in-bldg events) |
| **Denver 14th Street GID** | $300.9M (corridor) | **80.9% Commercial** | 19.1% Residential | Active ($550K/yr special charges; Downtown convention & hotel corridor) |
| **RiNo Denver GID** | $376.8M | **77.3% Commercial** | 22.7% Residential | Active (4.000 mills; industrial & entertainment corridor) |
| **Ballpark Denver GID** | $198.3M | **72.6% Commercial** | 27.4% Residential | Active (5.000 mills; Coors Field entertainment district) |
| **Sun Valley Denver GID** | $1.3M (+ DHA PILOTs) | **100.0% Commercial** | 0.0% Residential | Active (6.000 mills; redevelopment infrastructure district) |
| **Cherry Creek (Proposed)** | Residential Mix | N/A | High Residential Mix | **Stopped in Phase 1** (mailed cost postcards; 65.25% marked "Not Interested") |
| **Golden Triangle (Proposed)** | **$338.8M** (+$1.44B $0 exempt) | **46.8% Commercial** *(20.1% market)* | **53.2% Residential** *(79.9% market)* | **Outlier: Majority-Residential Tax Bill** (0 mailers sent to 6,740 homes) |

3. **Who Pays $0 Into the Proposed Golden Triangle GID**
   - **9+ Blocks of Government, Judicial, Mint & Museum Buildings ($1,437,060,200 / 30.7% of Appraised Value)**: Nearly one-third of the map is tax-exempt and pays **$0.00**, including Lindsey-Flanigan Courthouse & Downtown Detention Center ($273.6M), Ralph L. Carr Colorado Judicial Center / Supreme Court ($242.5M), the 3-parcel Denver Art Museum campus ($178.4M) & Clyfford Still Museum ($5.5M), Denver City & County Building ($147.8M), Denver Central Library ($121.7M), Denver Police HQ ($86.3M), History Colorado Center ($61.1M across 2 parcels), U.S. Mint ($43.5M), City & County facility at 1375 N. Delaware St ($24.5M), Cultural Center Garage ($20.6M), and U.S. Post Office at 1244 N. Speer Blvd ($18.1M).
   - **$82.3M Populus Hotel Pays This GID $0**: Located at 240 14th St (265 rooms, Tax District 451A), 50 feet north across W. Colfax Ave (where Downtown's BID stops), Urban Villages' Populus Hotel sits outside the boundary and pays **this GID $0.00**.
   - **1.5M+ Annual Visitors Pay $0 (C.R.S. 31-25-612)**: A municipal GID cannot levy a visitor sales or lodging tax, so 1.5M+ annual museum tourists, court visitors, and hotel guests pay $0 into the GID (while residents already pay Denver's 0.10% SCFD cultural sales tax).

4. **Study Sponsorship, IRS Form 990-PF & How Nov 20 Closes the File**
   - **IRS Form 990-PF (EIN 87-3195005) & CO SOS (#20211949948)**: "Golden Triangle Civic Experience, Inc." (GTCE), listed in P.U.M.A.'s Fact Sheet as the "neutral sponsor," is a private foundation registered at **1555 Blake St Ste 450, Denver, CO 80202** (corporate headquarters of developer **Urban Villages, Inc.**), whose sole officers are Urban Villages executives **Nicholas Murray** and **Jon Buerge**.
   - **Origin of the Study Funds**: IRS Form 990-PF XML filings show GTCE was seeded in October 2021 with **$200,000 from 1150 Bannock LLC** during the $6.0M acquisition of **1150 N. Bannock St** (Reception #2021199530), spent $100,200 on community planning in 2022 ($100,000 paid to Gehl Studio Inc.), paid $0 in grants from 2023-2025, received **$0.00 in community donations** across 2022-2025, and entered 2026 with **$68,441** in remaining cash used to fund P.U.M.A.'s feasibility study. Urban Villages entities hold five parcels on the 1100 blocks of N. Bannock and N. Acoma ($15.99M 2026 Assessor value, including three fenced vacant lots).
   - **Zero Public Mandate & Phase 1 Off-Ramp**: Denver Clerk, Ordinance, and Council records confirm **zero City, DOTI, or DURA requirement** to form or fund a Golden Triangle GID, and P.U.M.A.'s Fact Sheet states the effort moves forward "only if there is sufficient community support." Marking **"Not Interested" by November 20** (matching Cherry Creek's 65.25% Phase 1 survey result) puts residents on record to close the study in Phase 1, while commercial owners retain a commercial-only BID option under C.R.S. 31-25-1203(2) where homes pay $0.

5. **Outreach Comparison, Petition Math & Equal Renter Voting Rights (C.R.S. 31-25-602 & 31-25-604)**
   - **Outreach Gap vs. Cherry Creek (Phase 1) & South Broadway (Phase 2)**: Across **6,740 Golden Triangle apartments, condos, and rowhomes, residents received 0 mailers, postcards, or building flyers** ahead of the November 20, 2026 feasibility survey cutoff. By contrast, **Cherry Creek's 2025 Phase 1 GID study** mailed physical exploration postcards disclosing estimated $230-$990/yr GID taxes ahead of its feasibility survey (which came back 65.25% "Not Interested"), and **Broadway Denver GID (South Broadway)** mailed flyers to every resident and hosted petition-signing events at 3 residential complexes during its April 2025 petition drive (Slide 14 of its official City Council presentation).
   - **Nov 4 PDF Correction & 200-Signature Threshold (C.R.S. 31-25-604(1))**: P.U.M.A.'s Oct 1 Fact Sheet PDF misstated that petitions required "30% of taxable property owners or 200 taxable property owners." On Nov 4, 2026 at 11:09 AM MT, after StopTheGID.com pointed out that C.R.S. 31-25-604(1) says **electors**, P.U.M.A. updated its PDF to "at least 30% or 200 of the eligible electors in the district, whichever is less." Because 200 is "whichever is less," **just 200 signatures (under 3% of 6,740 homes)** can advance an ordinance to Denver City Council, and signers cannot withdraw their names once filed.
   - **20-to-1 Residential Ballot Majority**: Under C.R.S. 31-25-602(2)(a)-(b), every voter-eligible Colorado resident who has lived in a Golden Triangle apartment or condo for 30+ days gets **1 equal ballot vote**, while a corporate LLC owning an entire $173M apartment tower gets at most **1 vote** (up to 420-to-1 inside Dryden).

## 2026-2028 Process Timeline & 3 Resident Checkpoints

- **Phase 0 (April - November 2026): Study Launch & Outreach Gap**: GTCE files FY2025 IRS Form 990-PF (04/27/26) and launches the study with 0 mailers or flyers sent to 6,740 Golden Triangle homes; Nov 4 PDF update correcting elector language; SurveyMonkey open through Nov 20.
- **Phase 1 (Now - November 20, 2026 / Early 2027): Feasibility Survey & Draft Plan (Checkpoint #1)**: Survey closes **November 20, 2026**. Cherry Creek stopped Denver's last residential GID proposal in Phase 1 when **65.25%** marked "Not Interested."
- **Phase 2 (Spring - Summer 2027): 200-Signature Petition & City Council Hearing (Checkpoint #2)**: Formal District Service Plan, 200-elector petition threshold (<3% of 6,740 homes), and Denver City Council District 10 ordinance + public hearing.
- **Phase 3 (November 2027): TABOR Mail-Ballot Election (Checkpoint #3)**: Regular November 2027 election with equal 1-person-1-vote rights for 30-day apartment renters and condo owners (20-to-1 residential majority).
- **Phase 4 (January 2028 - Forever): Permanent Tax Collection**: Mill levy begins with perpetual existence and zero 10-year sunset clause (C.R.S. 31-25-611(1)(a); 0 of 6 enacted Denver GID ordinances sunset, unlike commercial BIDs), rolling into apartment Base Rent renewals (HB25-1090), condo escrows, and NNN retail bills.

## Certified 2026 Denver Assessor Study-Area Totals (1,137 Schedules · 383 Parcel Footprints)

- **Total Appraised Market Value**: $4,674,452,600
- **Total Certified Local Taxable Assessed Base**: $338,826,840
- **Residential & Mixed-Use Appraised Value**: $2,586,458,800 (55.3% of map; **79.9% of non-exempt value**; $180,381,000 certified taxable base = **53.2% of GID tax bill** across 5,843 taxable apartments + 687 residential condos + 88 rowhomes = 6,618 taxable homes; 6,740 total residential homes incl. 122 exempt affordable apartments)
- **Commercial & Vacant Land Appraised Value**: $650,933,600 ($158,445,840 taxable base = **46.8% of GID tax bill**; 20.1% of non-exempt market value)
- **Tax-Exempt Civic / Judicial / Museum Value Paying $0**: $1,437,060,200 (**30.7%** of map)
- **Annual District Tax Hike**: $1,694,134/yr (5.0 mills) | **$3,035,888/yr (8.96 mills)** | $3,388,268/yr (10.0 mills)

## Impact by Named Golden Triangle Apartment & Condo Building (8.96-Mill Benchmark)

| Building | Street Address | Homes | 2026 Appraised | Annual Building GID Tax | Per-Unit Annual / Monthly Hit |
| :--- | :--- | :--- | :--- | :--- | :--- |
| [AMLI Golden Triangle](https://stopthegid.com/?bldg=amli) | 855 N. Broadway | 372 apts | $122.4M | +$80,570/yr | +$217/yr (+$18.05/mo lease renewal) |
| [Modera Golden Triangle](https://stopthegid.com/?bldg=modera) | 1025 Bannock | 323 apts | $132.5M | +$84,175/yr | +$261/yr (+$21.72/mo lease renewal) |
| [Dryden](https://stopthegid.com/?bldg=dryden) | 1140 Bannock | 420 apts | $173.0M | +$113,549/yr | +$270/yr (+$22.53/mo lease renewal) |
| [Kindred](https://stopthegid.com/?bldg=kindred) | 180 W. 10th Ave | 224 apts | $79.6M | +$52,020/yr | +$232/yr (+$19.35/mo lease renewal) |
| [Akin Golden Triangle](https://stopthegid.com/?bldg=akin) | 955 Bannock | 97 apts | $37.6M | +$22,847/yr | +$236/yr (+$19.63/mo lease renewal) |
| [Citizen West 10](https://stopthegid.com/?bldg=citizen) | 140 W. 10th Ave | 393 apts | $151.2M | +$94,966/yr | +$242/yr (+$20.14/mo lease renewal) |
| [Parq on Speer](https://stopthegid.com/?bldg=parq) | 909 Bannock | 301 apts | $160.7M | +$107,580/yr | +$357/yr (+$29.78/mo lease renewal) |
| [The Finch](https://stopthegid.com/?bldg=finch) | 650 W. Colfax | 370 apts | $151.5M | +$92,250/yr | +$249/yr (+$20.78/mo lease renewal) |
| [The Parson](https://stopthegid.com/?bldg=parson) | 990 Cherokee | 311 apts | $125.3M | +$79,503/yr | +$256/yr (+$21.30/mo lease renewal) |
| [Eviva on Cherokee](https://stopthegid.com/?bldg=eviva) | 1250 Cherokee | 274 apts | $100.4M | +$61,155/yr | +$223/yr (+$18.60/mo lease renewal) |
| [1000 Speer by Windsor](https://stopthegid.com/?bldg=speer1000) | 1000 Speer | 224 apts | $93.4M | +$56,855/yr | +$254/yr (+$21.15/mo lease renewal) |
| [Acoma Apartments](https://stopthegid.com/?bldg=acoma) | 816 Acoma | 223 apts | $95.9M | +$58,408/yr | +$262/yr (+$21.83/mo lease renewal) |
| [8TWO8 on Broadway](https://stopthegid.com/?bldg=8two8) | 828 Broadway | 200 apts | $60.2M | +$40,528/yr | +$203/yr (+$16.89/mo lease renewal) |
| [Ten50 Broadway](https://stopthegid.com/?bldg=ten50) | 1050 Broadway | 284 apts | $112.6M | +$70,828/yr | +$249/yr (+$20.78/mo lease renewal) |
| [TriVista on Speer](https://stopthegid.com/?bldg=trivista) | 1350 Speer | 322 apts | $129.3M | +$78,766/yr | +$245/yr (+$20.38/mo lease renewal) |
| [Patten Gray](https://stopthegid.com/?bldg=patten) | 370 W. 12th Ave | 250 apts | $89.2M | +$56,502/yr | +$226/yr (+$18.83/mo lease renewal) |
| [The Boulevard](https://stopthegid.com/?bldg=boulevard) | 150 W. 9th Ave | 290 apts | $101.5M | +$61,799/yr | +$213/yr (+$17.76/mo lease renewal) |
| [Beauvallon Condos (North)](https://stopthegid.com/?bldg=beauvallon_n) | 975 Lincoln | 99 condos | $55.1M | +$30,451/yr | +$308/yr (+$25.63/mo county tax/escrow) |
| [Beauvallon Condos (South)](https://stopthegid.com/?bldg=beauvallon_s) | 925 Lincoln | 101 condos | $53.9M | +$29,746/yr | +$295/yr (+$24.54/mo county tax/escrow) |
| [Prado Condos](https://stopthegid.com/?bldg=prado) | 300 W. 11th Ave | 108 condos | $56.2M | +$30,924/yr | +$286/yr (+$23.86/mo county tax/escrow) |
| [Belvedere Tower Condos](https://stopthegid.com/?bldg=belvedere) | 475 W. 12th Ave | 74 condos | $47.5M | +$26,461/yr | +$358/yr (+$29.80/mo county tax/escrow) |
| [930 Acoma Condos](https://stopthegid.com/?bldg=acoma930) | 930 Acoma | 58 condos | $33.7M | +$18,507/yr | +$319/yr (+$26.59/mo county tax/escrow) |
| [Museum Residences](https://stopthegid.com/?bldg=museum_res) | 1200 Acoma | 31 condos | $24.6M | +$13,839/yr | +$446/yr (+$37.20/mo county tax/escrow) |

## Resident Action & Verification Links

- **Feasibility Survey (Open Through Nov 20, 2026)**: https://www.surveymonkey.com/r/GoldenTriangleGIDSurvey (Select "Renter" or "Residential Property Owner" and mark "Not Interested")
- **Denver City Council District 10 Gatekeeper**: district10@denvergov.org / chris.hinds@denvergov.org
- **IRS Form 990-PF Verification (EIN 87-3195005)**: https://projects.propublica.org/nonprofits/organizations/873195005
- **P.U.M.A. Oct 1 Fact Sheet PDF**: https://www.goldentrianglegidproject.com/_files/ugd/34fabe_574ea425b7af410a8871dab701a38e6c.pdf
- **P.U.M.A. Nov 4 Updated Fact Sheet PDF**: https://www.goldentrianglegidproject.com/_files/ugd/a4e3be_e34eef0115cf4c31be92aa34ff74307f.pdf
- **Colorado Secretary of State Entity #20211949948**: https://www.sos.state.co.us/biz/BusinessEntityCriteriaExt.do