Agenda Date: 08/09/2016
Subject:
Title
Urban Renewal
Body
Presented By:
Mike Braaten, Deputy City Manager
POLICY QUESTIONS:
Does city council want to repeal any or all of the four adopted urban renewal plans? Does city council wish to abolish the Littleton Invests For Tomorrow (LIFT) urban renewal authority? If council abolishes LIFT, is the loan from the city to LIFT forgiven?
BACKGROUND:
At the July 5 city council meeting, city council postponed the first reading of an ordinance to abolish LIFT and repeal the four urban renewal plans in order to obtain additional financial information. Council also wanted to consider separating the original ordinance into separate actionable items - i.e., to take action on each plan separately.
STAFF ANALYSIS:
Abolishment of LIFT/Urban Renewal Authority:
Staff has provided separate ordinances to consider each plan individually and on LIFT, as well as the original ordinance to abolish LIFT and all of the plans simultaneously. Should council decide to keep one, some or all of the plans in place, then LIFT needs to remain intact to administer the plans. Council also has the option to become the urban renewal authority. Per state statute, C.R.S. 31-25-115 (1), this may only be accomplished through a majority vote at a regular election ( November, 2017).
Per state statute, C.R.S. 31-25-115 (2), "The governing body of a municipality may by ordinance provide for the abolishment of an urban renewal authority, provided adequate arrangements have been made for payment of any outstanding indebtedness and other obligations of the authority. Any such abolishment shall be effective upon a date set forth in the ordinance, which date shall not be less than six months from the effective date of the ordinance."
Urban renewal is a tool available to address statutorily-defined blight and can be used as a funding mechanism to address needed public improvements. Should council consider retaining an urban renewal authority, it could...
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