December 4, 2007
Colorado Redevelopment Case
The Colorado Supreme Court recently decided Wheat Ridge Urban Renewal Authority v. Cornerstone Group, an eminent domain case involving the ability of the government to change its mind and back out of a redevelopment condemnation. Ilya Somin and Tim Sandefur both have comments on the case.
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The City of Loveland recently adopted a "Flex" URA allowing the developer's metro district the authority decide in the future which properties would be included in TIF and sales tax rebates to the Metro District.
They intentionally declared blight on another 500 acreas to give the developer maximum flexibility in deciding what and where to develop without going back through the city for approval.
94% of the "blight area" is agricultural land and the six unrelated parcels of land in the eatern part of town have no real relation other than belonging to the same developer.
In essence, the city has argued that so long as the property owner agrees, any land can be declared blight by the city council.
What is your view and are you familiar with this new "flex" URA concept?
Posted by: Liam | Sep 5, 2008 1:44:52 PM