Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
Page 11
Page 12
5Thegapisthedifferencebetweenwhatacommunitywantsinadevelopmentandwhattheprivatesectorcanaffordtodo.Thisgapisgenerallybetween15and30ofthedevelopmentproject.ColoradoMunicipalLeagueOncethemonetaryobligationsrelatedtoaprojectarefullledthetaxingentitieshavenewpermanentsourcesofrevenuethatwouldnothaveexistediftheprojecthadnotbeenundertaken.DenverUrbanRenewalAuthorityCitizensGuidetoUrbanRenewalUrbanrenewalactivitiesinBrightonsupportourcitycountyschoolsandpublicservices.Urbanrenewalauthoritiesdonotlevytaxes.Redevelopmentoftheseareascanbeverycomplexandcostlyandthereisusuallyafundinggap.UrbanrenewalauthoritiesmayutilizeanancialtoolcalledTaxIncrementFinancingTIFtoclosethatgapandfundeligibleimprovementswithinthedesignatedarea.WhenanurbanrenewalplanareaiscreatedabaseassessedvalueisdeterminedbytheCountyAssessor.Onlythetaxincrementcreatedbynewdevelopmentintheplanareagoestoanurbanrenewalauthorityforaperiodnottoexceed25years.Taxentitieswhoreceivedtaxrevenuebeforetheurbanrenewalplancontinuetoreceivethetaxrevenuetheywerereceiving.Infacturbanrenewalhelpsincreasethetaxbaseovertime.Inscalyear2014thatmeansadditionalrevenuesof127121fortheCityofBrighton512592forAdamsCounty225472fortheGreaterBrightonFireDistrict872238forSchoolDistrict27JSince2001BURAsstrategicinvestmentshavehelpedincreasethetaxbasegeneratingatotalof16230500fortheseentities.InadditionBURAhascontributedanother5.8millioninrevenuesharingtothemaswellasWeldCountyandSchoolDistrictWeldRE8.EVERYONEBENEFITSAssessedValuationBaseYearAdjustedeverytwoyearsBasePropertyValues25YearsToBURAandOtherEntitiesIncreasedValuationTIFTaxIncrementTotalMinusBaseRevenueSourceAssessedAdValoremTaxRealPersonalProperty2014RevenueIncreasesinBaseAdamsCounty.....................512592CityofBrighton.....................127121GreaterBrightonFireDept....225472SchoolDistrict27J................872238