Tax-increment financing proposal pushed for 9th and Colorado property
“Denver Urban Renewal Authority is seeking to establish an urban redevelopment zone at the site of the old University of Colorado hospital on Ninth Avenue and Colorado Boulevard.
Denver City Council must approve a resolution that creates an agreement with DURA and the city. Tax-increment financing allows a developer to retain a portion of the tax generated by a project in order to help pay its construction debt.
In order to qualify for redevelopment under DURA, the property must be determined to be blighted. DURA director Tracy Huggins said a study already has concluded the property is blighted because of its deteriorating and contaminated buildings.”
Meyer, Jeremy. Denver Post 4 June 2013.