Title
Gold Hill Mesa Commercial Project Urban Renewal Plan
(Legislative Matter)
Body
From:
Peter Wysocki, Planning and Development Director, Planning and Development Department
Summary:
Application File Number: CPC MP 04-00012-A1MJ15
This is a request by the Colorado Springs Urban Renewal Authority (CSURA) on behalf of Golden Cycle Investments to amend the existing Gold Hill Mesa Urban Renewal Plan (adopted by the City Council in May 2004) by bifurcating the commercial area from the residential area. Two separate Council actions are necessary:
1. Approve the Amended Gold Hill Mesa Urban Renewal Plan for the residential area. This URA plan will essentially remain unchanged, meaning there is no change to the taxing structure or the 25-year time clock, which will expire in 2029.
2. Approve the Gold Hill Mesa Commercial Area Urban Renewal Plan for the commercial area. This will essentially be a new URA plan with a new 25-year tax increment clock. A general sales tax sharing agreement between the City and CSURA will be reviewed at a later date.
Both actions are approved by adopting a resolution.
Previous Council Action:
The City Council approved the original Gold Hill Mesa Urban Renewal Plan in May 2004. Given that there has been no commercial development within this original urban renewal area, there is not a sales tax sharing agreement in place at this time.
Background:
Pursuant to Colorado Revised Statutes (C.R.S.), new urban renewal plans and substantial modifications to existing urban renewal plans must be adopted by the City Council. Prior to City Council consideration, urban renewal plans must also be reviewed by the City Planning Commission, which is to provide a recommendation to the City Council on whether or not the urban renewal plan is consistent with the City's Comprehensive Plan.
For a more detailed background and analysis, please see the attached Planning Commission staff report. For additiona...
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