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Council hears plan to form Downtown Development Authority; appointments and TIF will follow
Summary
Staff outlined a proposal to stand up an Aurora Downtown Development Authority (DDA) using tax-increment financing; Council was asked to approve a transparent application and appointment process for an inaugural board and to expect three future Council touchpoints before any DDA spending.
Laura Perry, deputy city manager, and Naomi Lacewell of Progressive Urban Management Associates briefed Council on proposed next steps for forming an Aurora Downtown Development Authority (DDA).
Perry explained the DDA is a state-statute-driven special district created by voters and funded primarily through tax-increment financing (TIF). She said the most important point is that no DDA action or spending can occur until the inaugural…
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