Agenda Date: 11/04/2014
Subject:
Title
Resolution approving a new Urban Renewal Plan known as the "Santa Fe Urban Renewal Plan"
Body
Presented By: |
Jim Rees, LIFT Executive Director, Michael Penny, City Manager |
POLICY QUESTION:
Does the city council support a resolution making certain findings required for the designation of the Santa Fe Dr. area as an urban renewal area?
BACKGROUND:
Littleton Invests for Tomorrow (LIFT) has completed the conditions study and determined that there are sufficient factors of blight present in the area, conducted two open house meetings to receive public review and comment; and has developed the Santa Fe Urban Renewal Plan in accordance with Part 1 of Article 25 of Title 31, C.R.S. LIFT has adopted resolution 11-2014 recommending that city council approve the Santa Fe Urban Renewal Area and Urban Renewal Plan and approving an initial tax increment area from which tax increments will be collected and utilized to fulfill plan goals. Additionally, the plan will include land that has been classified as "agricultural use" by the Arapahoe County Assessor. The plan has met one of the exceptions listed in C.R.S. § 31-25-107(1)(c)(II) and C.R.S. § 31-25-107(1)(c)(iii) that will allow for inclusion of the agricultural land in the urban renewal area.
STAFF ANALYSIS:
The plan was presented to the Littleton Planning Board and was found to be in conformance with the Littleton Comprehensive Plan. The approval of the plan will allow for the use of tax increment financing in TIF Area 1 in order to achieve plan goals and objectives which include the prevention and elimination of conditions of blight.
PROPOSED MOTION:
Proposed Motion
Motion to approve the resolution approving the Santa Fe Urban Renewal Plan.