SUBJECT:
Title
Urban Renewal 101
Department
DEPARTMENT: Economic Development
Presenter
PRESENTER(S): Julian Jacquin, Director of Economic Development & TOEURA
Lockie Woods, URA Development & Accounting Analyst
Corey Hoffman, URA legal counsel
end
Time
TIME ESTIMATE: 60 minutes
end
Fiscal
FISCAL SUMMARY:
None
Policy
POLICY ISSUES:
This presentation will help the Urban Renewal Authority (URA) Board members better understand the use of tax increment financing (TIF) tools used by the Town of Erie Urban Renewal Authority (TOEURA) and the policy implications associated with TIF and URAs.
Recommendation
STAFF RECOMMENDATION:
Presentation and discussion of the Colorado Urban Renewal Law and tax increment financing tools used by the Town of Erie Urban Renewal Authority.
Body
SUMMARY/KEY POINTS
• Role of an Urban Renewal Authority, Urban Renewal Plan and Project.
• History of Town of Erie Urban Renewal Authority (TOEURA), Tax Increment Financing (TIF), base value, increment, “but for” finding, and various approaches to the use of TIF.
• Extra information on TIF revenue and fund accounting in the Colliers Hill and Highway 287 (Nine Mile Corner) URA Plan Areas.
BACKGROUND OF SUBJECT MATTER:
URA legal counsel and Town staff will attend to present a “Urban Renewal 101” session to the TOEURA Board of Commissioners.
priorities
TOWN COUNCIL PRIORITY(S) ADDRESSED:
☒ Attractive Community Amenities
☐ Engaged and Diverse Community
☒ Prosperous Economy
☐ Well-Maintained Transportation Infrastructure
☐ Small Town Feel
☐ Safe and Healthy Community
☒ Effective Governance
☐ Environmentally Sustainable
☒ Fiscally Responsible
attachments
ATTACHMENT(S):
1. URA 101 Attorney Presentation
2. URA 101 Staff Presentation