On Friday, March 31, more than a year of ongoing discussions and negotiations among urban renewal stakeholders came to fruition with the introduction by Colorado State Sens. Rachel Zenziger (D – Arvada) and Beth Martinez Humenik (R – Thornton) of SB 17-279, “Concerning Clarification of the Applicability Provision of Recent Legislation to Promote an Equitable Financial Contribution Among Affected Public Bodies in Connection with Urban Redevelopment Projects Allocating Tax Revenues.” The House sponsors are Colorado State Reps. Susan Beckman (R-Arapahoe) and Matt Gray (D-Broomfield).
While the name is quite a mouthful, the bill accomplishes three simple purposes:
- Clarifies when activities conducted pursuant to a pre-Jan. 1, 2016, urban renewal plan may require further action by the municipality and urban renewal authority to comply with HB 15-1348;
- Creates a process by which other taxing bodies can challenge a determination by a municipality regarding whether or not an amendment constitutes a substantial modification; and
- Creates a 45-day “shot clock” for any challenges to an urban renewal authority’s activities.
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