Title
South Nevada Avenue Area Urban Renewal Plan
(Legislative Matter)
Body
From:
Peter Wysocki, Planning and Development Director
Summary:
This is a request to establish and create the South Nevada Avenue Area Urban Renewal Plan. The item was introduced to the City Council at the November 9, 2015 Work Session. The Plan has been updated to include the corrected Plan boundary. The proposed urban renewal plan was adopted by the City of Colorado Springs Urban Renewal Authority on September 23, 2015 and is supported by City staff as a proactive initiative to assist in the redevelopment of the South Nevada Avenue corridor.
There were a number of questions raised by some of the Council Members at the November 9th Work Session. Responses to the questions will be provided in a supplemental document and will be discussed at the Council meeting.
Previous Council Action:
No previous Council actions.
Background:
Urban renewal authorities, urban renewal plans and the use of tax increment financing (TIF) are regulated by CRS Title 31, Article 25. The intent of urban renewal plans is to encourage and facilitate redevelopment, and to eliminate blight within the designated area, ideally consistent with a city's comprehensive plan. For the purpose of urban renewal, "blighted area" is defined in Colorado Revised Statutes ("CRS"). In order for an area to be classified as blighted, it must exhibit 4 of 11 characteristics stipulated in CRS.
In accordance with CRS 31-25-107(2), prior to City Council approval of an urban renewal plan or a substantial amendment to an existing plan, the plan or amendment must first be reviewed and a recommendation offered by the City Planning Commission regarding its conformity to the City's Comprehensive Plan. If no recommendation is offered by the City Planning Commission within 30 days of submittal, the City Council may proceed to act upon the submitted plan or amendment. The City Planning Commissio...
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