Vail Daily column: Urban renewal law works

Please veto HB 1375, a piece of legislation that threatens the success of the current Urban Renewal Authority law in boosting Colorado’s economy and tourism.

As the town of Vail’s finance director for the past 12 years, I can speak directly to some of the benefits realized through our URA, the Vail Reinvestment Authority. When the authority was put into place, the Lionshead area of our town was deteriorating economically as well as physically. The Lionshead tax increment financing district provided financing for public improvements that made redevelopment feasible for private developers including Vail Resorts. The new businesses that went into the area as a result brought new guests and gave a boost to the area economy. Many of those guests are out-of-state and international visitors, clearly bringing new money to our state, county and town.