Bill would give Colorado counties more say in how cities form urban renewal authorities
“A debate between Colorado’s cities and counties about cities’ use of tax increment financing to restore blighted areas has again reached the statehouse, and the result could impact Steamboat Springs.
#House Minority Leader Brian DelGrosso, R-Loveland, on Friday introduced a bill that aims to give counties and other taxing entities more say in the process through which cities form urban renewal authorities and capture property and sales tax growth to restore blighted areas.
#Cities including Steamboat see these URAs as an important tool to restore run-down or “blighted” areas, while some counties see them as an abused tool that has diverted millions of dollars’ worth of property taxes away from counties, school districts and other entities.”
Franz,Scott. Steamboat Today 14 April 2014.