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CSURA Policy Regarding Conflicts of
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Colorado Revised Statutes 31-25-104(3) describes conflicts of interest for Urban Renewal Authority Commissioners and defines matters that create a conflict of interest that are prohibited by Urban Renewal Authority Commissioners. CSURA hereby adopts that statute as its conflict of interest policy and it reads as follows:

“(3) No commissioner, other officer, or employee of an authority nor any immediate member of the family of any such commissioner, officer, or employee shall acquire any interest, direct or indirect, in any project or in any property included or planned to be included in any project, nor shall he have any interest, direct or indirect, in any contract or proposed contract for materials or other services to be furnished or used in connection with any project. If any commissioner, other officer, or employee of an authority owns or controls an interest, direct or indirect, in any property included or planned to be included in any project, he shall immediately disclose the same in writing to the authority, and such disclosure shall be entered upon the minutes of the authority. Upon such disclosure, such commissioner, officer, or other employee shall not participate in any action by the authority affecting the carrying out of the project planning or the undertaking of the project unless the authority determines that, in the light of such personal interest, the participation of such member in any such act would not be contrary to the public interest. Acquisition or retention of any such interest without such determination by the authority that it is not contrary to the public interest or willful failure to disclose any such interest constitutes misconduct in office.”

In addition to the statute, every Urban Renewal Board Commissioner owes a duty of loyalty to the Urban Renewal Authority. A conflict of interest exists when there is any personal or financial relationship that could influence or be perceived to influence the representation or conduct of business for, or on behalf of, the Urban Renewal Authority. A conflict of interest also exists when any improper and undue influence can be exercised, or be perceived to be exercised, concerning a direct action involving the Urban Renewal Authority. A conflict of interest may exist when there is an appearance of impropriety. Any Commissioner must disclose promptly to the Board any circumstances that might constitute a conflict of interest or appear to be a conflict of interest. If there is any matter before the Urban Renewal Authority which creates a conflict of interest or an appearance of a conflict of interest, that Commissioner shall immediately recuse himself/herself from hearing or voting on that matter.

Colorado Revised Statutes 24-18-108.5 and 24-18-110 apply to members of boards and commissions and CSURA hereby adopts these statutes as it relates to rules of conduct and voluntary disclosure by Urban Renewal Board Commissioners. Those statutes read as follows:

“24-18-108.5. Rules of conduct for members of boards and commissions.

(1) Proof beyond a reasonable doubt of commission of any act enumerated in this section is proof that the actor has breached his fiduciary duty.

(2) A member of a board, commission, council, or committee who receives no compensation other than a per diem allowance or necessary and reasonable expenses shall not perform an official act which may have a direct economic benefit on a business or other undertaking in which such member has a direct or substantial financial interest.”

“24-18-110. Voluntary disclosure.

A member of a board, commission, council, or committee who receives no compensation other than a per diem allowance or necessary and reasonable expenses, a member of the general assembly, a public officer, a local government official, or an employee may, prior to acting in a manner which may impinge on his fiduciary duty and the public trust, disclose the nature of his private interest. Members of the general assembly shall make disclosure as provided in the rules of the house of representatives and the senate, and all others shall make the disclosure in writing to the secretary of state, listing the amount of his financial interest, if any, the purpose and duration of his services rendered, if any, and the compensation received for the services or such other information as is necessary to describe his interest. If he then performs the official act involved, he shall state for the record the fact and summary nature of the interest disclosed at the time of performing the act. Such disclosure shall constitute an affirmative defense to any civil or criminal action or any other sanction.”