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Planning commission backs urban renewal plan, recommends tax-increment financing for North Fourth Street
Summary
The Laramie Planning Commission voted to forward a resolution recommending establishment of an urban renewal plan and project area for North Fourth Street that identifies blight and proposes tax increment financing for sidewalks, utilities, remediation and redevelopment supporting housing and economic development.
The Planning Commission on July 14 voted to forward Resolution 20 25-5 recommending the establishment of an urban renewal plan and project area for the North Fourth Street site in Laramie.
Staff described the plan as identifying existing blight conditions and outlining improvements payable through tax increment financing (TIF). Proposed improvements mentioned during the meeting include sidewalk and street reconstruction, utility upgrades, environmental remediation and redevelopment opportunities intended to support housing and economic development in the area.
Commissioners voted to recommend the resolution to the City Council; forwarding the resolution does not itself authorize TIF or any expenditures. Council action will be required to establish the urban renewal area and approve financing and specific projects.
No public comments on the North Fourth Street plan were recorded during the meeting.
