Redevelopment of blighted areas can be very complex and costly, and there is usually a funding gap. Urban renewal authorities may utilize a financial tool called Tax Increment Financing (TIF) to close that gap and fund eligible improvements within the designated area. See more on Tax Increment Financing by viewing the Tax Increment Financing (PDF).
Since 2001, BURA has attracted more than $430 million in private investment in the urban renewal areas. This new development has helped increase the tax base, generating additional revenues the City of Brighton, Adams County, the Greater Brighton Fire District, School District 27J and other taxing districts.
For more information, see our annual reports.
Without public-private partnerships to direct private investment into blighted areas, there would be no new revenue, as development on those properties would not occur.
– Downtown Colorado, Inc.