Castle Rock approves urban renewal authority
“Councilmembers on May 7 voted unanimously to approve the authority, designed to trigger economic development in Castle Rock. Formation of an urban renewal authority is the first step in a process in which property owners can request a declaration that a property is blighted, and therefore eligible for an urban renewal area and plan.
If approved, a proposed urban renewal area and its accompanying plan could qualify for tax increment financing.
Stevens pointed out that the formation of an urban renewal authority does not declare the entire town of Castle Rock blighted. Each plan must qualify for consideration to declare an area blighted with a plan that is unique to the urban renewal area, Stevens said.”
Moore, Rhonda. Our Colorado News 14 May 2013.