Loading...
HomeMy WebLinkAboutEPURA RESOLUTION 8I RESOLUTION NO.8 RESOLUTION OF THE ESTES PARK URBAN RENEWAL AUTHORITY APPROVING REDEVELOPMENT PLAN SUPPLEMENT WHEREAS,pursuant to the requirements of the Estes Park Downtown Redevelopment Program,the Estes Park Urban Renewal Author ity is required to advise and inform the Town Board regarding prop erty and sales tax increment as a method of financing projects for the redevelopment of Estes Park;and, WHEREAS,the Authority has so advised the Town Board in relation to the adoption of Resolution No.7;and, WHEREAS,the Authority has determined that a supplement to the Redevelopment Plan regarding property and sales tax increment is necessary;and, WHEREAS,the proposed plan supplement is attached hereto and incorporated herein,titled Supplement to the Estes Park Downtown Redevelopment Program;and, WHEREAS,state statutes require that such supplement must be approved by the Estes Park Town Board. NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF COMMISSION ERS OF THE ESTES PARK URBAN RENEWAL AUTHORITY THAT: The proposed supplement attached hereto and incorporated herein is hereby approved by the Authority to be submitted to the Board of Trustees of Estes Park for its favorable consideration and adoption as a supplement to the Estes Park Downtown Redevelopment Program. ADOPTED this 9th day of December,1983. ESTES PARK URBAN RENEWAL AUTHORITY By:cL4 /J c>L_l Charles H.Phares,Chairman ATTEST: Barbara Cole,Secretary e a SUPPLEMENT TO THE ESTES PARK DNTOWN REDEVELOPMENT PROGRAM By passage of Resolution —83 on December 13,1983, by the Board of Trustees of the Town of Estes Park,the following is added to page 75 of the Estes Park Downtown Redevelopment Program: TAX INCREMENT FINANCING AND DEDICATION OF SALES TAX REVENUES. Pursuant to the recommendation of the Estes Park Urban Re newal Authority,which is based upon advice of the Authority’s financial consultant,and upon the advice of the Town’s investment banker,the following financing mechanism,in addition to all other legal financing methods of the Authority or Town,shall be utilized by the Authority or the Town to finance redevelopment projects: One hundred percent (100%)of the increment in the property and municipal sales tax referred to on pages 13 and 14 of this plan shall be used for financing of redevelopment projects and divided according to the applicable provision of the Colorado Urban Renewal Law for a period of twenty (20)years from the effective date of this plan.All other provisions of the said section on Tax Increment Financing on pages 13 and 14 of the plan shall remain unchanged and in effect as described therein.