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 .