Most cities have rundown, blighted areas that reduce the quality of life and economic vitality of the community. BURA’s mission is to encourage investment and reinvestment in these targeted areas while strengthening the tax base of the whole city. BURA leverages resources and partnerships to delivery high quality community improvements.
The Brighton City Council has approved several urban renewal plans that encompass much of downtown Brighton as well as targeted areas within the city. These areas are characterized by a variety of blight factors. BURA is an economic catalyst for those areas. It may assist in property acquisition, development financing, public improvements or development approval.
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. More here on Tax Increment Financing.
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.