Urban Renewal Attorney Outlines Funding Options for Yampa Street Improvements

Urban Renewal Attorney Outlines Funding Options for Yampa Street Improvements

The 22 downtown stakeholders and elected officials who attended a Monday night meeting about the future funding of Yampa Street improvements had plenty of questions for the experienced attorney who spent an hour charting out three possible ways to pay for the upgrades.

And many in the audience left ready to capitalize on the momentum they sense has been growing on the street throughout the past year.

“What's the next step for us to move this thing forward?” downtown Steamboat Springs developer Mark Scully asked Denver urban renewal attorney Carolynne White near the end of her presentation.

White, who talked about the intricacies and legal ramifications of a business improvement district, an urban renewal authority and a downtown development authority, said stakeholders first need to determine the cost and scope of the improvements they want to fund, and then pick the funding mechanism that would best support them.

White said DDAs, URAs and BIDs have been used to great affect in a diverse set of towns and cities across the state. Her more notable examples included the transformation of Denver's Union Station district and an agricultural town near Fort Collins that pursued a URA to get itself out of a nearby river's floodplain.

White added that almost all of the options on the table to fund Yampa Street and greater downtown improvements would require the support of the Steamboat Springs City Council and discussions with other taxing entities, including Routt County and the Steamboat Springs School District.

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Carolynne C. White Shareholder T 303.223.1197 cwhite@bhfs.com