Citizens Guide to Urban Renewal
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Section 1 – Redevelopment and DURA
What Is Redevelopment?
Redevelopment is a process specifically authorized under the Colorado Urban Renewal Law to assist Denver and other local governments throughout the state in revitalizing their communities. In Denver, DURA uses redevelopment to address sites within communities that once served productive uses but have deteriorated or are vacant and need assistance to become viable again.
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Section 2 – Redevelopment and The Community
How Does Redevelopment Benefit Communities?
Every Denver redevelopment project undertaken with the help of public investment, from the very large like Stapleton and Lowry to the small like Clyburn Village, has a positive impact on the public. Besides the elimination of blight, which is DURA’s mission and primary reason for investing public funds in a redevelopment effort, redevelopment brings a variety of benefits to the public at large and especially to the neighborhoods in which a project is undertaken.
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Section 3 – The Redevelopment Process
The Redevelopment Process
Every redevelopment project in which DURA gets involved, by its nature, is difficult. If a proposed project did not have problems—financial, physical, or market driven—the private sector would be able to accomplish the redevelopment on its own and there would be no need for DURA assistance.
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Section 4 – Financing Redevelopment
How Is Redevelopment Financed?
The primary tool used in Denver and throughout the state to finance redevelopment efforts is tax increment financing (TIF). TIF, the net new tax revenues generated by a redevelopment project, is used to fill the gap between the total cost of a project and the level of private financing the project can support.
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Section 5 – Eminent Domain
In Colorado, redevelopment agencies have the ability to acquire private property through eminent domain (condemnation) and resell it to another private party for redevelopment.
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citizens guide sections
- Section 1 – Redevelopment and DURA
- Section 2 – Redevelopment and The Community
- Section 3 – The Redevelopment Process
- Section 4 – Financing Redevelopment
- Section 5 – Eminent Domain
The information presented here is loosely based on a publication originally created by the California Redevelopment Association. The content was changed to reflect Colorado law and DURA’s practice. We want to thank the association for allowing us to borrow their concept.