"Urban Renewal" is an economic development tool used by local governments to economically revitalize areas of "blight" through public investments that stimulate private development. Colorado's urban renewal statute can be used for both development and redevelopment and provides local authorities with tools, such as tax increment financing, to encourage urban renewal activities.
The Greeley Urban Renewal Authority (GURA) conducted surveys in areas with suspected blight, and as a result formed four Tax Increment Districts: Greeley Mall; Great Western Sugar, 10th Street Corridor, and East 8th Street. Tax increment funds may be available in each of those districts to promote economic stability and/or redevelopment and are identified below. For more information on urban renewal authorities, tax increment districts and tax increment financing, or the City's Tax Increment Districts, please contact GURA.
GURA may also offer other redevelopment incentives from time-to-time utilizing funds other than its federal HUD grants or funds from Tax Increment Districts. Currently, the following loan program is offered. Contact GURA for additional information.
Tax Increment District Programs
10th Street Commercial Corridor Facade Grant Program
Private land owners or businesses with property in this Corridor who want to make physical improvements to their property may apply for financial assistance. The funds for this program are provided through the City's special Tax Increment Financing designation for the corridor, which makes financial assistance available to support physical improvements to property in the area.
Other Non-federal GURA-Administered Redevelopment Programs
Commercial Property and Facade Improvement Program
Owners of commercial buildings in the City's Redevelopment District (which encompasses all Tax Increment Districts, but also a larger area) are eligible for low-interest loan assistance for certain building and facade improvement projects.
GURA Studies and Urban Renewal Plans
GURA Board of Commisioners Minutes
Recent meeting documents are available below, or contact us at 970-350-9774 for additional information.