THE PUEBLO URBAN RENEWAL AUTHORITY IS GROWING THE PIE
PURA has grown the tax base for ALL local taxing entities. Our investments have built a 4% increase into the tax base of all PURA project area.
Why is PURA important to our community?
- We work with property owners to improve commercial property by providing low-interest loan funds.
- PURA has provided incentives to small and big business.
- PURA invests in the City of Pueblo.
About the Pueblo Urban Renewal Authority
The Pueblo Urban Renewal Authority (PURA) was established in 1959 to promote the revitalization of Pueblo. Our Executive Director and 11-member board identifies areas with little or no investment and creates a plan to stimulate the neighborhood through various redevelopment projects. To date, Urban Renewal has a total of eight project areas. PURA participates in development projects either by offering direct incentives to private developers or by investing in public improvements in designated project areas. Project areas have a 25-year life, and are approved by Pueblo City Council. Project programs are diverse and range from streetscape improvements to art investment, and from new development to job creation. In the following pages of this website you will learn about the varying urban renewal programs that are helping to make Pueblo a better place to live, work and play!
The Pueblo Urban Renewal Authority acknowledges its responsibility to:
- Protect and retain Pueblo’s downtown as the true core of our community with the understanding that a community’s potential need for revitalization is not confined to any one area;
- Focus primarily on creating project areas that are “urban” vs. “new development”
- Support project areas that create a significant amount of new jobs
- Inform, educate, and communicate toward a better understanding of our strategies and financing mechanisms;
- Maintain open and honest communication with Pueblo City Council, its Administration, taxing entities and any other community partners that may, from time to time, be affected;
- Analyze and consider potential competitive consequences to established project areas as new project areas are considered;
- Consider the utilization of residential tax increment financing only upon agreement relative to its consequences on other tax entities; and
- Consider the use of eminent domain only after demonstration of clear and convincing evidence that the taking of property is necessary for the eradication of blight.