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RESOLUTION: 2005-51
SUBJECT: A resolution authorizing the Lakewood Reinvestment Authority to undertake a Colfax Corridor Revitalization Conditions Survey
RECOMMENDATION: Approval
SUMMARY AND BACKGROUND OF SUBJECT MATTER:
The purpose of the Colfax Corridor Reinvestment Conditions Survey is to survey where "blight" conditions, as defined by Colorado Revised State Statue (C.R.S.), exist in the Colfax corridor and to what degree or extent. This information will be used to help analyze what portions of the corridor may be appropriate for designation as a Reinvestment District. The establishment of such a corridor would allow the Lakewood Reinvestment Authority (LRA) to use a variety of reinvestment tools to encourage redevelopment within the Colfax corridor.
A reinvestment conditions survey is an initial information-gathering step. Once the reinvestment conditions survey is completed, establishment of a Reinvestment District and adoption of a Reinvestment Plan would require additional steps with opportunities for public input and Council consideration. A task force will be established to assess the results and make recommendations on the Reinvestment District. The LRA may only establish a Reinvestment District in an area where five or more of the eleven possible "blight" conditions exist.
Two additional safeguards are proposed to demonstrate that, once again, Lakewood is at the forefront of this very important public policy issue: 1.) LRA will convene a citizen task group to review the results of the survey and make recommendations on the Reinvestment District Boundary, the Reinvestment Plan, and any redevelopment projects. 2.) LRA is exploring placing a time limit on the ability to use eminent domain once a specific urban renewal project is designated. The duration is likely to be in the range of 24-36 months, and would be designated in the Redevelopment Plan.
Both the Colfax Citizen's Advisory Committee and the Lakewood Planning Commission
recommend that Council authorize the LRA undertake the Colfax Corridor Reinvestment
Conditions Survey at this time. The significance of having Council approve the
undertaking of a Colfax conditions survey at this time, assures the return of
the conditions survey will result in a time frame where the property valuation
for the Reinvestment District can be secured twelve months prior to the adoption
date of a Reinvestment Plan.
The LRA is restricted from using funds from existing project areas to pay for
this conditions survey. Funds for the conditions survey, if authorized, will
come from special projects funds that have previously been earmarked in the
City of Lakewood budget. The LRA has been able to reimburse the City for all
prior conditions survey expenditures, as the studies have lead to establishment
of districts that later generate revenues which the LRA may use to repay these
costs.
RESOLUTION ADOPTION DATE: August 8, 2005
ORIGINATED BY: Rebecca P. Clark, LRA Director
STAFF PERSON RESPONSIBLE: Rebecca P. Clark, LRA Director, 303-987-7525
DOCUMENTS ATTACHED: Resolution 2005-51
Excerpt from C.R.S.
Title 31 Article 25, defining "Blighted area".
Map of Proposed Colfax Conditions
Study Area Boundary
SUBMITTED BY:
Rebecca P. Clark, LRA Director
REVIEWED BY:
Joni Inman, Director Mayor & City Manager's Office
Mike Rock, City Manager
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