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Urban Renewal Authority
Urban renewal authority:
An economic development resource
URA brief

Expanding the tax base within Castle Rock to generate more revenue for public services and creating additional jobs in Town to grow the local economy are Town Council’s two primary economic development goals.

While the Town has made strides in these areas, significant issues and obstacles still exist to accomplishing these goals. The Castle Rock Economic Development Council, which has the lead responsibility for business attraction, retention and expansion within Castle Rock, says the most significant obstacles are a lack of sites ready for development and a lack of vacant building space.

Read the URA in brief

Last year, the EDC formed a committee of private sector experts to study those and other local economic development issues. The committee in January recommended to Town Council the formation of an urban renewal authority in Castle Rock. Since then, much work has been completed to evaluate whether an urban renewal authority is appropriate for Castle Rock.

The state authorizes municipalities to form urban renewal authorities to help bridge financial gaps in development and redevelopment projects. URAs can undertake public improvements, land assembly, demolition of buildings and disposition of property, among other roles. They can be overseen either by the local city / town council, or by an independent board. URAs cannot levy or increase taxes of any kind.

Town Council on May 7 adopted a resolution to create an urban renewal authority in Castle Rock. This formal step was Council’s first in a series of many to ultimately use an urban renewal authority to help reach the Town’s economic development goals.

Council desires a transparent and deliberative public process as it considers specific uses of this economic tool. The information on this section of our website is intended to further that goal. Questions or comments? Email us or call 720-733-3519 .

 


Castle Rock, CO
100 N. Wilcox St.
Castle Rock, CO 80104
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