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Urban Renewal Plan Preparation and

1.

An applicant must submit an application (see Submittal Requirements for Development Projects) to the Colorado Springs Urban Renewal Authority (CSURA) to request consideration for a specific parcel or combination of parcels, controlled by the applicant, for urban renewal designation as described in the Colorado State Statues.

2.

If the area is approved for consideration then a Conditions Study (Blight Study) must be completed justifying the appropriate requirements for slum and blight as identified in the Colorado State Statues. The cost of the conditions study is the responsibility of the applicant. The CSURA Board will review the findings of the Conditions Study at a regularly scheduled Board meeting and authorize the preparation of an urban renewal plan if warranted.

3.

If the appropriate slum and blight conditions are found in the study area, the next step is to have an Urban Renewal Plan prepared for the area and presented to CSURA for review. The cost to prepare the Urban Renewal Plan is also the responsibility of the applicant. There is an administrative fee due to CSURA at this time to cover the cost of staff time involved in the preparation of the Plan.

4.

Upon CSURA’s approval, the next step is consideration by the Colorado Springs Planning Commission where the Plan will be evaluated for conformance with the City of Colorado Springs Comprehensive Plan.

5.

A County Impact Report must be prepared along with the Urban Renewal Plan for submittal to the El Paso County Board of Commissioners. The report must identify any physical and service impacts (if any) to County services and how the project will address these impacts. The County Commissioners have the opportunity to dispute the findings prior to plan approval by the Colorado Springs City Council.

6.

Upon approval by the Planning Commission, the Plan is presented to the Colorado Springs City Council for final review and adoption. If City Council does not adopt the Plan, revisions may be required before submitting it for reconsideration.

7.

Once an Urban Renewal Plan has been approved by City Council, CSURA will enter into a Development Agreement with the Developer. The process is initiated through a Pre-Development Agreement between the developer(s) and CSURA. This document is used to establish a timeline for the completion of a Development Agreement. It establishes exclusive rights to negotiate a Development Agreement, as well as requires the payment of a non-refundable annual minimum fee that will be assessed until the Development Agreement is completed. The fee will pay for the costs of consultants and legal advisors that the Authority will utilize in negotiating the Development Agreement.

8.

The completion of the Development Agreement is the final step in the process for implementing the urban renewal project. A Development Agreement is a contract between CSURA and the developer that outlines the terms and conditions for how CSURA will participate in the development of the project. Specifically, the criteria for the collection and distribution of tax increments will be stipulated as well as the responsibilities of both the developer and the Authority in the implementation of the project. An administrative fee is due to CSURA upon the signing of the agreement. The administrative fee will be charged annually and may be deducted from the annual tax increments received before distributions are made to the developer.

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