HomeMy WebLinkAbout07533ORDINANCE NO. 7533
AN ORDINANCE MAKING CERTAIN LEGISLATIVE FINDINGS AND APPROVING THE URBAN
RENEWAL PLAN FOR THE NORTH PUEBLO URBAN RENEWAL PROJECT
WHEREAS, Leland Consulting Group (the Consultants) have been retained by the Urban
Renewal Authority of Pueblo, Colorado (the Authority) to conduct studies and surveys of the area
(Area) described in Exhibit A, attached to and incorporated herein, to determine if the Area
contains factors included in the definition of "blighted area" in the Colorado Urban Renewal Law
Sections 31 -25 -101, etseq., C.R.S., (the Act); and
WHEREAS, the Consultants prepared, submitted and presented to the City Council a
document entitled "North Pueblo Conditions Survey" (the Survey) dated July 2006, which Survey is
incorporated herein by this reference, and which describes in detail the conditions in the Area; and
WHEREAS, by Resolution Number 10839, the Pueblo City Council found and determined
that the Area is a "blighted area" as defined in Section 31 -25- 103(2) of the Act; and
WHEREAS, the Authority has prepared and approved the North Pueblo Urban Renewal
Plan (the Plan), a copy of which has been approved as to form by the City Attorney and is
attached hereto and incorporated herein; and
WHEREAS, the aforesaid Plan is a matter of public record in the custody of the City Clerk
and is available for public inspection during business hours of the City; and
WHEREAS, notice of the public hearing on the Plan was published as required by Section
31 -25- 107(3), C.R.S., at least thirty days prior to the public hearing; and
WHEREAS, written notice was mailed or delivered to each property owner, business, and
resident of the area included in the Plan informing them of the public hearing at least thirty days
prior to the public hearing; and
WHEREAS, the Pueblo Planning and Zoning Commission has determined that the Plan
complies with the Pueblo's Comprehensive Plan (the Comprehensive Plan), which is the general
plan for the development of the City as a whole; and
WHEREAS, on November 13, 2006, the City Council conducted a public hearing and
reviewed said Plan pursuant to the procedural and notice requirements of the City Charter, the Act,
and the City Council having considered the evidence presented in support of and in opposition to
the Plan, the Survey, the City's Comprehensive Plan, and staff recommendations and so having
considered the legislative record and given appropriate weight to the evidence. NOW,
THEREFORE,
BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1.
The Urban Renewal Area described in the Plan is found and declared to be a blighted area
as defined in the Act. This is a legislative finding by the City Council based upon the Survey and
other evidence presented to City Council.
SECTION 2.
The boundaries of the Urban Renewal Area have been drawn as narrowly as the City
Council determines feasible to accomplish the planning and development objectives of the Plan.
SECTION 3.
The Plan has been submitted to the Board of County Commissioners of Pueblo County,
Colorado, (the County) together with the information required by Section 31 -25- 107(3.5) of the Act.
SECTION 4.
School District No. 60 and Pueblo School District No. 70 have been permitted to participate
in an advisory capacity with respect to the inclusion in the Plan of the tax allocation provisions
authorized by Section 31 -25- 107(9) of the Act.
SECTION 5.
It is not expected that any relocation of individuals and families will be required in
connection with the Plan, but to the extent that any such relocation may be required, a feasible
method exists for the relocation of individuals and families in decent, safe, and sanitary dwelling
accommodations within their means and without undue hardship to such individuals and families.
SECTION 6.
It is not expected that any relocation of business concerns will be required in connection
with the Plan, but to the extent that any such relocation may be required, a feasible method exists
for the relocation of such business concerns in the Urban Renewal Area or in other areas that are
not generally less desirable with respect to public utilities and public and commercial facilities.
SECTION 7.
The City Council has taken reasonable efforts to provide written notice of the public hearing
prescribed by Section 31 -25- 107(3) of the Act to all property owners, residents and owners of
business concerns in the proposed Urban Renewal Area at their last known addresses of record at
least thirty days prior to the public hearing on the Plan.
SECTION 8.
Section 31- 25- 107(4)(d) of the Act does not apply because no more than 120 days have
passed since the commencement of the only public hearing on the Plan.
SECTION 9.
Section 31- 25- 107(4)(e) of the Act does not apply because the City Council did not fail to
previously approve this Plan.
SECTION 10.
The Plan conforms with the Pueblo's Comprehensive Plan, which is the general plan for the
development of the City of Pueblo as a whole.
SECTION 11.
The Plan will afford maximum opportunity, consistent with the sound needs of the
municipality as a whole, for the rehabilitation or redevelopment of the Urban Renewal Area
described in the Plan by private enterprise.
SECTION 12.
All of the Urban Renewal Area is within the corporate limits of the City. Construction of
public improvements and provision of services in the Urban Renewal Area will be the primary
responsibility of the City, the Authority, special districts and public entities other than the County,
and private enterprise. The County has not provided information that any additional county
infrastructure and services will be required to serve development in the Urban Renewal Area while
the tax allocation provisions authorized by Section 31- 25- 107(9)(a)(1) and (11) of the Act are in
place. Therefore, increases in County revenue resulting from the proportionate adjustment of the
valuations for assessment under subparagraphs (1) and (11) of Section 31- 25- 107(9)(a) of the Act
and the increase in new County sales tax revenue resulting from redevelopment in the Urban
Renewal Area as described in the impact report provided to the County pursuant to Section 31 -25-
107(3.5) of the Act will adequately finance any additional County infrastructure or services while
such tax allocation provisions are in effect.
SECTION 13
To the extent that the Urban Renewal Area described in the Plan may constitute open land
within the meaning of Section 31 -25- 107(5) of the Act, it is found and determined that a shortage of
housing of sound standards and design that is decent, safe, and sanitary exists in the City; the
need for housing accommodations has been or will be increased as a result of the clearance of
substandard and dilapidated housing in the City; the conditions of blight in the Urban Renewal
Area described in the Plan and the shortage of decent, safe, and sanitary housing cause or
contribute to an increase in and spread of disease and crime and constitute a menace to the public
health, safety, morals, or welfare; and, if necessary to carry out the Plan, the acquisition of the area
for residential uses (to the extent authorized in the Plan) is an integral part of and essential to the
program of the City.
SECTION 14
To the extent that the Urban Renewal Area described in the Plan may constitute open land
within the meaning of Section 31 -25- 107(6) of the Act, it is found and determined that the
nonresidential uses under the Plan are necessary and appropriate to facilitate the proper growth
and development of the community in accordance with sound planning standards and local
community objectives and, if necessary to carry out the Plan, the contemplated acquisition of the
area (to the extent authorized in the Plan) may require the exercise of governmental action, as
provided in and subject to the requirements of the Act, because of being a blighted area.
SECTION 15.
The North Pueblo Urban Renewal Plan has been duly reviewed and considered and is
hereby approved. The Authority is hereby authorized to take any and all actions pursuant to the
Act to carry out the Plan.
SECTION 16.
This Ordinance shall become effective upon final passage and approval
INTRODUCED: October 10, 2006
BY: Barbara Vidmar
COUNCILPERSON
APPROVED: 0. �e s.
�— President of City Council
ATTESTED BY:
CITY CLERK
PASSED AND APPROVED: November 13, 2006
Background Paper for Proposed
ORDINANCE
._,d �/ 1
AGENDA ITEM # N zq
DATE: OCTOBER 10, 2006
DEPARTMENT: COMMUNITY DEVELOPMENT /JIM MUNCH
URBAN RENEWAL AUTHORITY OF PUEBLO/MIKE TEDESCO
TITLE
AN ORDINANCE MAKING CERTAIN LEGISLATIVE FINDINGS AND APPROVING
THE URBAN RENEWAL PLAN FOR THE NORTH PUEBLO URBAN RENEWAL
PROJECT
ISSUE
Should City Council approve the proposed North Pueblo Urban Renewal Plan and
thereby establish a tax increment financing area as a means to eliminate blight?
RECOMMENDATION
Approve the Ordinance
BACKGROUND
The North Pueblo Urban Renewal Plan (the Plan) prepared and submitted in draft form
by Leland Consulting Group, reflects conditions of blight as required by the Urban
Renewal Law of the State of Colorado (C.R.S. 31 -25 -103 (2)). Additionally, the Plan's
primary objective is to eliminate blight by stimulating private investment and
reinvestment within the proposed district boundaries. Specifically, the primary intent of
the Plan is to fund the Dillon/Eden Flyover (split diamond 1 -25 interchange), as well as
other public improvements the Urban Renewal Authority of Pueblo may deem
appropriate.
City Council has the authority to revise any proposed urban renewal plan as you might
deem appropriate. The Plan must be submitted to the Board of County Commissioners,
and the City of Pueblo Planning and Zoning Commission for comment. Likewise, a copy
of the Plan must be remitted to School District 60 and School District 70 to inform the
Districts of the proposed plan and allowing for comment.
FINANCIAL IMPACT
Twenty -five year property tax TIF projections indicate average revenue of $1,920,000
per year to be paid to the Urban Renewal Authority of Pueblo.
North Pueblo
Urban Renewal Plan
City of Pueblo, Colorado
August 2006
Prepared for: Urban Renewal Authority of Pueblo and Pueblo City Council
North Pueblo
Urban Renewal Plan
City of Pueblo, Colorado
August 2006
Table of Contents
Section 1.0:
Preface and Background
3
Section 2.0:
Qualifying Conditions
7
Section 3.0:
Relationship to Comprehensive Plan
9
Section 4.0:
Land Use Plan and Plan Objectives
9
Section 5.0:
Project Implementation
13
Section 6.0:
Project Financing
16
Section 7.0:
Changes & Minor Variations from Adopted Plan
19
Section 5.0:
Severability
20
Attachments Pending
Attachment 1: North Pueblo Conditions Survey
Attachment 2: Pueblo County Financial Impact Report
F
NORTH PUEBLO
URBAN RENEWAL PLAN
City of Pueblo, Colorado
August 2006
Prepared for: Urban Renewal Authority of Pueblo and Pueblo City Council
1.0 Preface and Background
1.1 Preface
This North Pueblo Urban Renewal Plan (the "Plan' or the "Urban Renewal Plan") has been
prepared for the Urban Renewal Authority of Pueblo, (the "Authority ") pursuant to the
provisions of the Urban Renewal Law of the State of Colorado, Part 1 of Article 25 of Title
31, Colorado Revised Statutes, 1973, as amended (the 'Act "). The administration of this
project and the enforcement of this Plan, including the preparation and execution of any
documents implementing it, shall be performed by the Authority.
1.2 Description of Urban Renewal Area
According to the Act, the jurisdictional boundaries of the Authority are the same as the
boundaries of the municipality. Additionally, within the municipal boundaries there
may be one or more urban renewal areas.
Under the Act, an urban renewal area is a blighted area, which has been designated as
appropriate for an urban renewal project. In each urban renewal area, conditions of
blight must be present at a level defined by the Act before the Authority can legally
exercise its powers. Finally, in each urban renewal area, undertakings and activities that
constitute an urban renewal project are implemented as a way to eliminate the conditions
of blight.
The North Pueblo Area included in the Urban Renewal Plan (referred to herein as "the
Urban Renewal Area' or "the Area ") is located in north Pueblo, including several parcels
in the vicinity of the Eden Interchange on both the east and west sides of Interstate 25.
The boundaries of the Area are delineated on Figure No. 1, and described in the legal
description included in Section 1.2.1. The figure controls the boundary description in case
of any conflict with the legal description. The boundaries of the Urban Renewal Area are
drawn narrowly as feasible to accomplish the planning and development objectives of
the Urban Renewal Plan.
1.2.1 Legal Description
A legal description for the Area is presented at the end of this document. The Urban
Renewal Area contains: 630 acres, more or less, including road and rail right -of -ways.
1.2.2 Figure 1, Urban Renewal Area
The urban renewal plan map is presented as Figure 1 on the following page.
1.3 Purpose of the Plan
The purpose of the North Pueblo Urban Renewal Plan is to reduce, eliminate and prevent
the spread of blight within the Urban Renewal Area and to stimulate growth and
investment within the Area boundaries. In particular, this Urban Renewal Plan is
intended to promote local objectives with respect to appropriate land uses, private
investment and public improvements provided that the delineation of such objectives
shall not be construed to require that any particular project necessarily promote all such
objectives. Specifically, the Plan promotes an environment which allows for a range of
uses and product types which can respond to market conditions over time; further the
goals and objectives of the Pueblo Comprehensive Plan adopted July 25, 2002 (also referred to
as the Pueblo Regional Development Plan) and any other relevant policy document; and,
leverage the community's investment in public improvement projects in the Area.
Figure No. I
North Pueblo Urban Renewal Plan - Land Use
Que" Ad Legend
Arterial commercial Mixed
Urban Residential
Special Development Area
C3 Study Area City Lirnit.
Planned Roads
0 025 0.5
,q
4
aT
a »n Rd
5
While the principal goal of the urban renewal effort is, as required by the Act, to afford
maximum opportunity, consistent with the sound needs of the City of Pueblo (the
"City") as a whole to develop and rehabilitate the Area by private enterprise, it is not
intended to replace the efforts of area business development or marketing organizations.
The development of properties within the Urban Renewal Area will be accomplished
through the improvement of existing structures and infrastructure, attraction of new
investment and reinvestment, and prevention of deterioration of properties in the Area.
The effort will involve the Authority and City of Pueblo with participation and
cooperation by the private sector.
As the Urban Renewal Law authorizes the Authority to undertake zoning and planning
activities to regulate land use, maximum densities, and building requirements in the
Urban Renewal Area for the purpose of implementing the Plan, the Urban Renewal
Authority of Pueblo shall have governance to require applicable municipal standards
and regulations.
1.4 Public Participation
The Plan continues to be made available to business and property owners located within
and adjacent to the Plan boundaries, as well as Pueblo residents at- large. Notification of
the public hearing was provided to property owners, tenants, and residents of record
within the Area as required by the Act.
Presentations were also made at public meetings of the Planning Commission and City
Council in the summer of 2006 to receive comments and input on the Plan. The Planning
Commission is required to review the Plan's conformance with Pueblo's Comprehensive
Plan. It is the intent of the Authority and City Council to provide for public participation
in proposed developments and planning efforts that advance the intent of the Plan.
Plans and development proposals submitted for approval of the Authority will continue
to be made available to the public in an open meeting format in accordance with
applicable laws and policies of the Authority.
1.5 Definitions
In addition to terms previously defined in the text, the following terms are used in this
Urban Renewal Plan
Cooperation Agreement - means any agreement between the Authority and the City or
any public body (the term "public body" being used in this Urban Renewal Plan as
defined by the Act) respecting action to be taken pursuant to any of the powers set forth
in the Act or in any other provision of Colorado law, for the purpose of facilitating public
undertakings deemed necessary or appropriate by the Authority under this Urban
Renewal Plan.
Redevelopment / Development Agreement - means an agreement between the
Authority and developer(s) regarding the redevelopment or redevelopment of property
within the Urban Renewal Area
2.0 Qualifying Conditions
The North Pueblo Conditions Surrey, dated July 2006 (the "Survey "), was completed by the
Denver, Colorado office of Leland Consulting Group. The 13 page Survey includes an
Appendix and 15 exhibits which illustrate the location of qualifying conditions, a final
map synthesizing the number of qualifying conditions by parcel, and the supporting
field survey. The Survey documents the evidence of blight for the North Pueblo Area
and is incorporated into this Urban Renewal Plan by reference.
The legal term "blighted area" describes a wide array of urban problems, which can
range from physical deterioration of buildings and the environment, to health, social and
economic problems in a particular area. Based on the Survey completed in connection
with the adoption and approval of the Urban Renewal Plan, at least four qualifying
conditions of blight, as defined in the Act, are present within the proposed Urban
Renewal Area. These conditions are evidence of a "blighted area" as defined in the Act.
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 and underutilization of vacancy of sites, buildings, or
other improvements.
1) If there is no objection of such property owner or owners and the tenant or tenants of
such owner or owners, if any, 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)
above, 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
eminent domain.
As documented in the Survey, 10 of 11 qualifying conditions fisted in the Act are present
within the Area. The only qualifying condition, which was not identified, was "defective
or unusual conditions of title rendering the title non - marketable."
3.0 Relationship to Comprehensive Plan
A general plan for the City, known as the Pueblo Comprehensive Plan 2002, was adopted on
July 25, 2002 (the "Regional Development Plan "). The Authority, with the cooperation of
the City, private enterprise and other public bodies, will undertake projects and activities
described in this Plan in order to eliminate the conditions of blight identified in the
Conditions Survey while implementing the Regional Development Plan.
4.0 Land Use Plan and Plan Objectives
4.1 General Description
The Urban Renewal Area includes approximately 630 acres. The boundaries of the Area
generally include several parcels in North Pueblo in the vicinity of the Eden Interchange
on both the east and west sides of Interstate 25.
The vision for revitalization of the area is creation of high quality developments which
integrate a range of non - residential and residential uses supported by strategic public
improvements to infrastructure improvements (including roadway), facilities, and
parking within and adjacent to the Plan boundaries. A combination of uses is proposed
all of which will further promote development of the Area as a region - serving
commercial enclave. Most of the conditions of blight will be eliminated by
redevelopment of the urban renewal area by private enterprise.
Existing conditions present within the Area will be remedied by the proposed Plan, but
will need to first be identified as a priority public investment item by the Authority in
consultation with the City and community. Improvements will be partially funded by
tax increment revenues. Creation of special districts or other financing districts to serve
as supplemental funding sources is also possible.
4.2 Development and Design Objectives
The development objectives for the Urban Renewal Area include establishment of uses
that will allow projects to respond to changing market conditions. Potential land uses
within the Urban Renewal Area include commercial, office, industrial, residential, public,
and parking. Design objectives for the Urban Renewal Area also promote flexibility,
adaptability to a range of uses and product types and consistency with prevailing market
conditions. Other objectives include:
a) Eliminate and prevent blight
b) Implement the Pueblo Regional Development Plan
c) Ensure orderly growth of the City of Pueblo
d) Stimulate development of underutilized land in the Area
b) Improve relationship between this area and surrounding areas
c) Increase property values and strengthen the City's economic base
d) Provide uses supportive of and complementary to planned improvements
(transportation)
e) Encourage a mix of uses and projects
f) Promote a variety of products to address multiple segments
g) Encourage continued presence of businesses consistent with the plan vision
h) Provide a range of financing mechanisms for private property re- investment and
investment
i) Mitigate impacts from future transportation improvements
j) Encourage public- private partnerships to implement the plan
k) Facilitate cooperation among government agencies including, without limitation, the
City and County in development of the area
1) Develop higher design standards including flexible lighting and signage standards
m) Landscape streetscapes to unify uses and plan components
4.2.1 Development Opportunities — Catalyst Projects
A key concept associated with implementation of the Plan is targeted
investment that will serve to catalyze development throughout the Area and
10
fund future public improvements. With a limited number of major property
holdings, and given the average parcel size, the potential for multiple
catalyst projects is limited. Several investment zones have been identified
within the Area. The aggregate impact of potential investment within these
areas is reflected in the Pueblo County Impact Report which is incorporated
into this Urban Renewal Plan by reference.
4.3 Development Standards
All development in the Plan Area shall conform to the Comprehensive Plan, the Zoning
Code, International Building Codes, applicable Design Standards and any site - specific
zoning for properties in the Urban Renewal Area, all as in effect and as may be amended
from time to time.
Notwithstanding anything in the Plan to the contrary, the development and use of the
property within the Urban Renewal Area described in the Plan including, without
limitation, land area, land use, design, building requirements, timing or procedures
applicable to the property, shall be subject to the Pueblo Municipal Code and secondary
codes therein adopted by reference, and other applicable standards and regulations of
the City of Pueblo (City Regulations) which shall be controlling with respect thereto,
provided, that is a conflict exists between any provision of the City Regulations and any
provision of the Plan or any design guidelines or standards of the Authority, the most
restrictive provision shall control.
In conformance with the Act and Urban Renewal Plan, the Authority may adopt
additional design standards and other requirements applicable to properties in the Urban
Renewal Area. Any such standards and requirements adopted by the Authority shall be
consistent with all other zoning and development policies and regulations of the City.
11
4.3 Public Improvements and Facilities
The Authority may undertake certain actions to make the Urban Renewal Area more
attractive for private investment. The priority of this Urban Renewal Plan and its
principal urban renewal project is the construction of the Dillon /Edenville split - diamond
interchange and flyover, to be located within the Plan area, to allow increased traffic and
access to properties within the Urban Renewal Area via Interstate 25. In addition to the
Dillon /Edenville split - diamond interchange and flyover, the Authority may, or cause
others to, install, construct, and reconstruct any public improvements in the Urban
Renewal Area, including, without limitation, streets, sidewalks, underground utility and
service facilities, streetscape improvements, pedestrian corridors, parking facilities,
highway interchanges, water utilities, sewer facilities, drainage improvements,
roadways, traffic signals, signage, landscaping improvements, and anything else that
may be proposed. The Authority may also, or cause others to, install, construct and
reconstruct any other authorized improvements in the Urban Renewal Area, including,
without limitation, other authorized undertakings or improvements for the purpose of
promoting the objectives of this Urban Renewal Plan and the Act.
Public projects are intended to stimulate (directly and indirectly) private sector
investment in and around the Urban Renewal Area. The combination of public and
private investment will assist in the investment and conversion of the Urban Renewal
Area into a viable commercial, employment and residential sub -area supported by
multiple forms of transportation contributing to increased property and sales taxes.
4.4 Other Improvements and Facilities
There could be other non -public improvements in the Urban Renewal Area that may be
required to accommodate development. The Authority may assist in the financing or
construction of these improvements.
12
5.0 Project Implementation
The Act allows for a wide range of activities to be used in the implementation of an
urban renewal area. It is the intent of the Authority to provide incentives to stimulate
private investment in cooperation with property owners and other affected parties in
order to accomplish the objectives of the Plan. Public - private partnerships and other
forms of cooperative development will be key to the Authority's strategy for preventing
the spread of blight and eliminating the blighting conditions. Reliance on powers such as
eminent domain will only be considered as a final option as determined by the Pueblo
City Council, to achieve the objectives of this plan.
5.1 Property Acquisition and Land Assemblage
The Authority through purchase or by any method authorized by the Act and the Urban
Renewal Plan may acquire property. Any proposal to acquire property under the power
of eminent domain must first be approved by a majority vote of the Pueblo City Council.
The Authority may temporarily operate, manage and maintain property acquired in the
Urban Renewal Area. Such property shall be under the management and control of the
Authority and may be rented or leased pending its disposition for redevelopment.
5.2 Relocation Assistance
It is not anticipated that acquisition of real property by the Authority will result in the
relocation of any individuals, families, or business concerns. However, if such relocation
becomes necessary, the Authority shall adopt a relocation plan in conformance with the
Act and consistent with specific objectives which will be identified in that plan.
13
5.2.1 Mitigate Inconvenience and Expense
Development of any relocation program for the Area will be designed to mitigate
the inconvenience and expense of individuals, families and business concerns
that may be displaced by acquisition of property by the Authority.
5.2.2 Information Program
Any relocation program will be accompanied by an information program to keep
all affected parties advised of relocation activities on a continuing basis and to
encourage all such parties to keep the Authority informed of their needs and
requirements.
5.3 Demolition, Clearance, and Site Preparation
In carrying out this Urban Renewal Plan, it is not anticipated that the Authority will be
required to demolish and clear buildings, structures and other improvements from
property in the Urban Renewal Area. However, development activities consistent with
this Plan, including but not limited to development or cooperation agreements, may
require such demolition and clearance to eliminate unhealthy, unsanitary, and unsafe
conditions, eliminate obsolete and other uses detrimental to the public welfare, and
otherwise remove and prevent the spread of deterioration. They may also be necessary to
alleviate identified hazardous environmental conditions.
With respect to property acquired by the Authority, it may demolish and clear, or
contract to demolish and clear, those buildings, structures and other improvements from
property pursuant to this Urban Renewal Plan if in the judgment of the Authority such
buildings, structures and other improvements can not be rehabilitated in accordance with
this Urban Renewal Plan. The Authority may also undertake such additional site
preparation activities, as it deems necessary, to facilitate the disposition and
development of such property.
14
5.4 Property Disposition
The Authority may sell, lease, or otherwise transfer real property or any interest in real
property subject to covenants, conditions and restrictions, including architectural and
design controls, time restrictions on development, and building requirements, as it
deems necessary to develop such property. Real property or interests in real property
may be sold, leased or otherwise transferred for uses in accordance with the Act and this
Urban Renewal Plan. All property and interest in real estate acquired by the Authority
in the Urban Renewal Area that is not dedicated or transferred to public entities, shall be
sold or otherwise disposed of for redevelopment in accordance with the provision of this
Plan and the Act.
5.5 Redevelopment and Rehabilitation Actions
Redevelopment and rehabilitation actions within the Urban Renewal Area may include
such undertakings and activities as are in accordance with this Urban Renewal Plan and
the Act, including without limitation: demolition and removal of buildings and
improvements as set forth herein; installation, construction and reconstruction of public
improvements as set forth herein; elimination of unhealthful, unsanitary or unsafe
conditions; elimination of obsolete or other uses detrimental to the public welfare;
prevention of the spread of deterioration; and provision of land for needed public
facilities. The Authority may enter into agreements with private parties or public entities
to provide assistance or undertake all other actions authorized by the Act or other
applicable law to redevelop and rehabilitate the Urban Renewal Area.
5.6 Redevelopment Agreements
The Authority is authorized to enter into Redevelopment Agreements or other contracts
with developer(s) or property owners or such other individuals or entities as are
determined by the Authority to be necessary or desirable to carry out the purposes of this
Urban Renewal Plan. Such Redevelopment Agreements, or other contracts, may contain
such terms and provisions as shall be deemed necessary or appropriate by the Authority
15
for the purpose of undertaking the activities contemplated by this Urban Renewal Plan
and the Act, and may further provide for such undertakings by the Authority, including
financial assistance, as may be necessary for the achievement of the objectives of this
Urban Renewal Plan or as may otherwise be authorized by the Act.
6.0 Project Financing
6.1 Public Investment Objective
It is the intent of the Plan that the public sector play a significant role in revitalization
efforts as a strategic partner. Experience has proven that a critical component to the
success of any revitalization strategy is participation by both the public and private
sectors. Leveraging of resources will be key as no one entity, either public or private, has
sufficient resources alone to sustain a long -term improvement effort. Typical public
infrastructure investments may include but are not limited to: unifying streetscape
elements, improving access and circulation, improving streets and parks, providing for
railroad corridor improvements and grade separation and parking, completing utilities,
and creating special districts or other financing mechanisms.
6.2 Authorization
The Authority may finance this Urban Renewal Plan by any method authorized under
the Act or any other applicable law, including without limitation, the following: issuance
of notes and bonds in an amount sufficient to finance all or part of this Plan; borrowing
of funds and creation of indebtedness; advance and reimbursement agreements; federal
or state loans or grants; interest income; annual appropriation agreements; agreements
with public or private entities; and loans, advances and grants from any other available
sources. The principal, interest, costs and fees on any indebtedness are to be paid for
with any lawfully available funds of the Authority.
Debt may include bonds, refunding bonds, notes, interim certificates or receipts,
temporary bonds, certificates of indebtedness, or any other obligation lawfully created.
16
Article X, Section 20 of the Colorado Constitution does not limit the debt options of an
urban renewal authority in Colorado.
6.3 Project Revenues
Tax Increment Financing
The Urban Renewal Plan contemplates that a primary method of financing this project to
be the use of property tax increments as authorized by the Act. If there is any conflict
between the Act and this Urban Renewal Plan, the provisions of the Act shall control,
and the language in the Plan will be automatically deemed to conform to the statute.
All property taxes collected within the Urban Renewal Area, by or for the benefit of any
public body, shall be divided for a period not to exceed 25 years as follows:
a) That portion of the taxes which are produced by the levy at the rate fixed each
year by or for each such public body upon the valuation for assessment of
taxable property in the Urban Renewal Area last certified; prior to the effective
date of approval of the Urban Renewal Plan, or as to an area later added to the
Urban Renewal Area, the effective date of the modification of the Plan, shall be
paid into the funds of each such public body as are all other taxes collected by or
for said public body.
b) That portion of said property taxes in excess of such amounts in subparagraph
(a) shall be allocated to and, when collected, paid into a special fund of the
Authority to pay the principal of, the interest on, and any premiums due in
connection with the bonds of, loans or advances to, or indebtedness incurred by
(whether funded, refunded, assumed or otherwise) the Authority for financing
or refinancing, in whole or in part, the urban renewal project within the Urban
Renewal Area.
C) The portion of taxes described in subparagraph (b) may be irrevocably pledged
by the Authority for the payment of the principal of, the interest on, and any
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premiums due in connection with such bonds, loans, advances, and
indebtedness.
d) The City and the Authority may enter into agreements with other public bodies
and private parties to provide financial assistance in support of development
projects consistent with this plan as may be more fully set forth in the provisions
of such agreements. Existing agreements between the City and private parties
that are consistent with this plan are intended to remain in full force and effect.
6.4 Financing Mechanisms / Structures
The Authority recognizes that tax increment financing is one tool which can be made
available to facilitate investment and that others are needed. The Authority is committed
to making a variety of strategies and mechanisms available which are financial, physical,
market and organizational in nature. It is the intent of this Plan to use the tools either
independently or in various combinations. Given the obstacles associated with
development, the Authority recognizes that it is imperative that solutions and resources
be put in places which are comprehensive, flexible and creative. Among those deemed
reasonable for the Urban Renewal Area are improvement district(s).
6.5 Authority Participating Interest in Private Development Projects
The Authority may require a participating interest in private development projects in
which it provides financial support. The philosophy behind this is that public support is
frequently needed for projects of this nature, in order to fill a gap left by available
traditional financing. In the event the project(s) produces revenues in excess of a market
rate of return, the public sector might become a partner and share in the success of the
project. In this event, the Authority may also require an excess profits provision. The
terms of the participating interest and excess profits provisions will be negotiated in the
Redevelopment Agreement(s).
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7.0 Changes and Minor Variations from Adopted Plan
7.1 Changes in the Approved Urban Renewal Plan
This Urban Renewal Plan may be modified pursuant to the provisions of the Act
governing such modification, including Section 31 -25 -107 thereof, as the same may be
amended from time to time.
7.2 Minor Variations
In specific cases, where a literal enforcement of the provisions contained in the Urban
Renewal Plan constitutes an unreasonable limitation beyond the intent and purpose of
these provisions, the Authority may allow minor variances from these provisions.
7.3 Cooperation Agreements
For the purpose of this Plan, the Authority may enter into one or more Cooperation
Agreements with the City or other public bodies pursuant to the Act. Such cooperation
agreements may include, without limitation, agreements regarding the planning or
implementation of this Urban Renewal Plan and its projects, as well as programs, public
works operations, or activities which the Authority, the City or such other public body is
otherwise empowered to undertake and including without limitation, agreements
respecting the financing, installation, construction and reconstruction of public
improvements, utility line relocation, storm water detention, environmental remediation,
landscaping and /or other eligible improvements within the Urban Renewal Area.
The City and Authority recognize the need to cooperate in the implementation of this
Urban Renewal Plan for, but not limited to, such items as project financing and
administering the construction of public improvements. This paragraph shall not be
construed to require any particular form of cooperation.
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8.0 Severability
If any portion of the Urban Renewal Plan is held to be invalid or unenforceable, such
invalidity will not affect the remaining portions of this Urban Renewal Plan.
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