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1. Independent blight study or conditions survey has been prepared and presented first, to the municipalities urban redevelopment authority or board, and second, to their Council;2. Market analysis has been completed in order to determine the potential for future uses within the urban renewal area, and their potential timing; 3. Urban renewal plan document and supporting financing plan (impact analysis) have been prepared;4. Stakeholder have been contacted and invited to comment on future uses and required improvements within the area;5. Council accepts the findings of the conditions survey and adopts (by resolution) the urban renewal plan.
When a redevelopment project is being planned, the urban renewal authority or board analyzes how much additional property and/or sales taxes may be generated once it is completed. That “tax increment” then can be used by the urban renewal entity either to finance the issuance of bonds or to reimburse developers for a portion of their project costs. In either case, the new tax revenue that is created must be used for improvements that have a public benefit and that support the redevelopment effort, such as site clearance, streets, utilities, parks, the removal of hazardous materials or conditions, or site acquisition.
Source: Denver Urban Renewal Authority
(a) Slum, deteriorated, or deteriorating structures;(b) Predominance of defective or inadequate street layout;(c) Faulty lot layout in relation to size, adequacy, accessibility, or usefulness;(d) Unsanitary or unsafe conditions;(e) Deterioration of site or other improvements;(f) Unusual topography or inadequate public improvements or utilities;(g) Defective or unusual conditions of title rendering the title non-marketable;(h) The existence of conditions that endanger life or property by fire or other causes;(i) Buildings that are unsafe or unhealthy for persons to live or work in because of building code violations, dilapidation, deterioration, defective design, physical construction, or faulty or inadequate facilities;(j) Environmental contamination of buildings or property; (k.5) The existence of health, safety, or welfare factors requiring high levels of municipal services or substantial physical underutilization or vacancy of sites, buildings, or other improvements;(l) If there is no objection of such property owner or owners and the tenant or tenants of such owner or owners, if and, to the inclusion of such property in an urban renewal area, “blighted area” also means an area that, in its present condition and use and, by reason of the presence of any one of the factors specified in paragraphs (a) to (k.5) of this subsection (2), substantially impairs or arrests the sound growth of the municipality, retards the provision of housing accommodations, or constitutes an economic or social liability, and is a menace to the public health, safety, morals or welfare. For purposes of this paragraph (1), the fact that an owner of an interest in such property does not object to the inclusion of such property in the urban renewal area does not mean that the owner has waived any rights of such owner in connection with laws governing condemnation.
Source: Colorado Revised Statute 31-25-103(2).
1 Determine Project Planning Area Boundaries; 2 Verify Presence and Location of Blighting Conditions; 3 Prepare Conditions Survey *; 4 Present Conditions Survey Findings to Urban Renewal Entity and Council for Acceptance; 5 Identify Market Opportunities Within Area and Quantify Timing; 6 Together with Stakeholders – Define Future Role of Area in Community; 7 Prepare Urban Renewal Plan; 8 Complete Financial Analysis (Tax Increment Finance – TIF); 9 Complete Impact Analysis (as per legislation) and Share With All Impacted Taxing Bodies; 10 Present Urban Renewal Plan to Urban Renewal Entity and Council for Adoption; 11 Issue Request for Projects; 12 Implement Plan
* Based on conditions survey findings, modify boundaries for urban renewal area, if necessary.
Source: Leland Consulting Group, (303) 458-5800, www.lelandconsulting.com