SUBJECT:
Title
A Resolution Of The Town Of Erie Urban Renewal Authority Approving The Terms Of A Reimbursement Agreement Between The Town Of Erie Urban Renewal Authority (“TOEURA”) And RTR Equity (“Developer”)
Body
DEPARTMENT: Economic Development
PRESENTER: Ben Pratt/Economic Development Manager
Tim Morzel/Vice President of Economic & Planning Systems
TIME ESTIMATE: 15 minutes for both Agenda Item No. 19-087 and 19-086
FISCAL INFORMATION: NA
Cost as Recommended:
Balance Available:
Budget Line Item Number:
New Appropriation Required:
STAFF RECOMMENDATION:
Recommendation
Approve the resolution
End
SUMMARY AND BACKGROUND OF SUBJECT MATTER:
RTR Equity has acquired property at 526 Briggs Street. RTR Equity intends to redevelop and expand the existing property by approximately 3,605 square feet commercial building. In addition to the current office uses, RTR Equity will add a restaurant user. The Town approved a Historic Old Town Renewal Plan on November 12, 2013. The property is located within the Urban Renewal Plan boundaries and the TIF district. Per Title 31, Article 25, Part I, C.R.S, and the Urban Renewal Plan, the Town of Erie Urban Renewal Authority is authorized to enter into a reimbursement agreement with RTR Equity.
ATTACHMENTS:
Resolution