Broomfield Urban Renewal Authority (BURA)
Broomfield's Urban Renewal Authorities (BURA) is responsible for creating and managing the active urban renewal districts within the City and County of Broomfield. Currently, Broomfield has twelve active urban renewal authorities and five proposed districts, awaiting development activity.
What are Urban Renewal Authorities?
Urban Renewal Authorities (URS's) are created by municipalities to redevelop areas within their jurisdiction that are found to contain blight or slum conditions and require public participation to attract redevelopment. An urban renewal project is a public/private partnership. The majority of the funding comes from the private sector; public investment comes from tax increment financing (TIF), which is the increased amount of property tax or municipal sales tax revenue collected within the URA after the project begins. This new revenue is generated by the increased property values that result the project.