The mission of the Fort Collins Urban Renewal
Authority (URA) is to remedy blight by stimulating and leveraging private
capital investment, using tax increment financing in private development
projects and public improvement projects. The URA functions as a catalyst,
partner, advisor and participant to foster sound growth and development. |
| Resources |
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2008 Annual Report
8 pgs, 4.8m |
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Organization Chart |
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URA Application & Scorecard |
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URA Application & Scorecard |
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URA General Policies |
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Bylaws - Resolution 6 |
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Intergovernmental Agreement - Resolution
5 |
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Issues & Recommendations |
Better known as a URA, this entity is authorized
by the City of Fort Collins to Revitalize, Redevelop, Restore, and
Revive targeted areas within the city limits that promote investment
for public benefit. This four "R" approach identifies areas
that may be deteriorating or changing with the economics of the region.
It was created by City Council in 1982 designating itself as the governing
board (known as the "Authority"). The URA was under-utilized
until 2004 when the first Urban Renewal Plan Area was approved along
the North College Avenue Corridor, known as the North College Urban
Renewal Plan.
URAs provide measurable outcomes to communities, businesses, residents,
and local government. Urban Renewal Authorities play an essential
role in assembling sites, upgrading infrastructure, eliminating blight,
preserving historical buildings and green space, increasing tax revenues
and providing financial tools for the completion of projects. The
Fort Collins URA focus is to strengthen and restore communities, provide
new housing or business opportunities, and ultimately enhance the
quality of life for the public benefit.
The URA must first develop an Urban Renewal Plan (URP) for a targeted
redevelopment area before it can provide assistance. Once the URP
is developed, the URA can then facilitate communication between developers
and property owners, thus creating a private/public relationship.
| Step 1 |
a city determines an area(s)
that needs to be redeveloped. |
| Step 2 |
the city creates an Urban
Renewal Plan including strategic direction of redelopment efforts
and an Existing Conditions Study. |
| Step 3 |
a city's
council approves the Urban Renewal Plan and creation of an Urabn
Renewal Authority providing access to tax increment financing
(TIF) to fund URA projects. |
| Step 4 |
The URA identifies current
property taxes as well as estimates the future property taxes
for the improvements that will occur due to URA projects. The
difference between the two is the amount of "increment"
financing available to URA projects. |
| Step 5 |
The URA works in partnership
with the city and private investors to identify and help fund
URA projects. Redevelopment occurs. |
| 1982 |
Fort Collins City Council
creates an Urban Renewal Authority (URA), and designates itself
as the governing board (known as the "Authority").
|
| 2004 |
The City is approached by
the North Fort Collins Business Association to recognize the
North College Avenue Corridor as an urban renewal project area
and to create an urban renewal plan for it. |
| 12-21-04 |
The City Council approves
the first plan: North College Urban Renewal Plan. |
| 10-02-06 |
First URA project complete:
sewer expansion at 280 Hickory Street. |
| 05-15-07 |
The City Council approves
the second plan: Foothills Mall Urban Renewal Plan. |
| 09-16-08 |
Second URA project complete:
URA Board approves TIF for North College Marketplace. |
| 11-16-08 |
Foothills URP dissolved. |
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