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PURA explains tax‑increment financing, pitched narrow infill housing to revitalize Lower East Side
Summary
Pueblo Urban Renewal Authority (PURA) briefed county commissioners on how tax‑increment financing (TIF) works, recent and planned infill housing projects on the Lower East Side, and partnerships with NeighborWorks, Habitat for Humanity and District 60 to reuse school sites and return incremental tax to the county for infrastructure.
Jerry Pacheco, executive director of the Pueblo Urban Renewal Authority, told Pueblo County commissioners on Feb. 4 that tax‑increment financing is the primary tool PURA uses to pay for eligible public improvements in redevelopment areas and described several residential demonstration projects aimed at repopulating the city’s older neighborhoods.
Pacheco said TIF captures growth above a base tax levy for a set period “for the 25 year period over and above base taxes,” and stressed that every dollar spent must have “a rational nexus to a public activity, a legitimate public purpose.” He illustrated the allocation with a printed “dollar bill” showing how incremental revenue is split among taxing bodies and said the authority seeks consensus from affected taxing entities before keeping incremental revenue for projects.
Why it matters: the county’s decision to opt into or decline an urban renewal district affects long‑term…
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