'Urban renewal' got a bad name for overusing eminent domain and ignoring the will of the people. Officials in Erie, on the other hand, see "a powerful economic development tool."
The city's Board of Trustees is expected to vote on whether to form an urban renewal authority today, Tuesday Oct. 11th.
John Aguilar reports: "Trustee Paul Ogg has been pushing for an authority for months, saying the additional tax revenues that would be derived from increased land values on redeveloped properties is critical to attracting commercial and retail projects to Erie.
"The power of this economic tool is amazing," Ogg said. "It changes the game we're playing."
Urban renewal authorities are common throughout Colorado and Boulder County -- Boulder, Superior, Lafayette and Longmont each has one."
FULL STORY: Decision time on urban renewal in Erie
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