A Public Improvement Fee (PIF) is a fee that developers may require their tenants to collect on sales transactions to pay for on-site improvements.
Generally, these improvements are financed through a Public Improvement Corporation or a Special District. The Public Improvement Fee collected repays the PIF debt incurred by the developers.
Examples of these improvements include curbs and sidewalks, parking facilities, storm management system, sanitary sewer systems, road development (within the site) and outdoor public plaza.
Currently, there are five locations in Lakewood that have a Public Improvement Fee: Belmar
, Colorado Mills
, Promenade at Denver West
, Cafarelli Center
and Creekside Shopping Center