GURA Distric

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GURA District
12th Street
Washington Avenue
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GURAs Statutory Mission

• To undertake urban renewal projects and to make
  and execute any and all contracts and other
  instruments which it may deem necessary or
  convenient to the exercise of its powers under
  this Act.
• Urban renewal project means undertakings and
  activities in an urban renewal area for the
  elimination and for the prevention of the
  development or spread of slums and blight

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• Past
• Functions
• Challenges
• Present
• Re-evaluating GURA to better match its strengths
  with its functions
• Increasing collaboration with city council,
  staff, and other groups working downtown
• Priority Projects
• Lend-Lease Hire
• Future
• Priority Projects
• Revisit Urban Renewal Plan

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1989-2003

• Historical Functions
• Bricks and Mortar
• Marketing
• Economic Development
• Filled the Gap
• 2003 Challenges
• Ballot proposition to dissolve GURA
• Relationship with City Council and other City
  groups not well defined and often strained
• Complete change of Board and Director

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• Major Themes From Retreat
• 1. Comprehensive Reevaluation
• Appropriate 15 years after creation and with all
  new people
• Takes time, but were nearing end
• 2. Go with GURAs strengths
• Guided by statute
• 3. Identified need for coordinated economic
  development program for the GURA district

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1. Comprehensive ReevaluationThe Matrix

• GURA researched its minutes for any mention of
  existing or future tasks to determine which are
  best managed by GURA.
• GURA worked with the City and the Chamber to
  understand how remaining tasks and divisions of
  labor might be handled by the City, EDComm,
  and/or the Chamber.
• Matrix is just the starting point. Other ideas
  will be solicited from the public and interested
  parties.

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Sample Matrix Page
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Results from Matrix Exercise

• 1. Better understanding of the relative
  importance and/or feasibility of projects.
• 2. Increased communication with City and EDComm.
• Coordinating projects
• Joint grant program
• 3. Increased communication with merchants.
• Comprehensive review of events and projects

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2. Go with GURAs Strengths

• GURA is best equipped to fund physical
  improvements and projects involving public
  infrastructure or public purpose projects in
  public rights of way within the GURA district.
• This is the major goal of the Urban Renewal
  Statute.
• These types of projects are best funded by Tax
  Increment Financing (TIF) according to Owner
  Participation Agreements (OPA), which is GURAs
  main redevelopment method.
• GURA can maximize its resources according to this
  narrower focus and with the improved coordination
  between the City and EDComm.

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Tax Increment Financing
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3. Coordinated Economic Development

• Focusing on our strengths is only part of the
  solution. It is also critical to
• Maintain the support for the marketing and
  promotional projects and events previously
  supported by GURA, for which others are better
  chartered and
• Explore new ways to enhance economic development
  and prevent blight in the GURA district.

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The Reinvestment Fund

• By transferring a portion of the sales tax
  revenue received by GURA to the City/EDComm, GURA
  will continue its support of projects
  better-managed by the City/EDComm.

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The Reinvestment Fund

• The Reinvestment Fund would be calculated with
  the annual budget and in close consultation with
  the City, EDComm, Chamber of Commerce, Civic
  Foundation, Cultural Alliance, and others. This
  year, we would use 2003 actuals rather than the
  2004 budget.
• This strategy could also be used to fund
• The joint GURA/City Director
• Parking structures and studies
• Marketing vacant spaces
• Expanding and diversifying the employment base
  within the GURA district
• Establishing programs to replace GURA when it
  sunsets (2015) and
• Meeting other needs as they arise.
• GURA is exploring this option and would consult
  with the City to finalize it.

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Ongoing Projects

• Streetscape - Spring banners are up power
  washing soon.
• Improving communication among private and public
  entities.

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Ongoing Projects

• Clear Creek Square
• 90 leased 250-300 jobs

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Ongoing Projects
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2
1

• Millstone at Clear Creek
• Illustration for concept only
• Awaiting new performance schedule.

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Ongoing Projects

• Clear Creek Square Parking Structure
• Negotiating management agreement
• Insurance in place

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Ongoing Projects

• Lot 1 (Jewel Box)
• Developer still searching

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Ongoing Projects
Bent Gate Only the walls and floor remain the same
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Bent Gate

• Added 2 jobs
• 5x more retail square footage
• 10x more square footage overall
• Can finally show all inventory
• TIF-based OPA funded work on
• Sprinkler system, ADA compliance, asbestos
  removal, and facade

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Bent Gate - Before
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Bent Gate - During
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Bent Gate - Now
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Ongoing Projects

• Clear Creek Commons
• 60 Occupied

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Clear Creek Commons

• 28 out of 45 units leased
• 5 from Golden 10 from region
• 3 regular volunteers
• 75 walkers
• 7 jobs

Restaurant/Deli under construction
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Ongoing Projects
Gem Building 76 leased 45 jobs
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Ongoing Projects

• Golden Hotel Parking
• One payment away from being done

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Major Projects Summary

• Bent Gate 90,000
• Golden Hotel Parking 300,000
• Golden Gem Building 350,000
• Clear Creek Commons 159,000
• Clear Creek Square 2,750,000
• Washington Bridge (Grant) 300,000
• Total 3,949,000

Vitality effect About 325 workers to downtown
area
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New Projects

• Establish contact with the owner of 1275
  Washington and/or facilitate a deal.
• Signs interpretive, directional, bike routes
  (in cooperation with City).
• Facades and streetscape improvements -(in
  response to imminent Downtown Merchants proposal).

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New Projects

• Virtual Infrastructure - research touch screen
  kiosks and GURA-wide wireless hot zone support
  web development.
• Research methods to maintain historical character
  and cultural vitality of downtown.

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Kiosks
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Lend-Lease Hire

• The Interim Director was hired mid-January until
  mid-May, then month-to-month.
• There are ongoing negotiations between GURA and
  City Manager to establish terms.
• The leading solution is for a City employee under
  lend/lease contract with GURA with mutual
  agreements required for significant issues.
• GURA suggests beginning the process while
  continuing negotiations.

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Urban Renewal Plan

• Plan adopted in 1989. Much has changed.
• Many tasks have been completed others might be
  moot still others might not be advisable GIS
  could be applied.
• GURA will make first draft, then would
• like to discuss further with a Council
  Subcommittee.

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Summary

• Maintain emphasis on physical improvements and
  public purpose projects.
• Use the Reinvestment Fund to achieve coordinated
  economic development that is sustainable beyond
  GURAs life.
• Expedite the lend-lease hire process.
• Revise the Urban Renewal Plan.

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Thank You For Your Time