The Town of Parachute will be hosting a Town Hall public workshop meeting on Tuesday, April 16, 2024 at 5:00pm for all residents, guests, employees, business owners, and property owners that are interested in learning more about the proposed Urban Renewal Authority (URA) in Parachute.
Town staff will be available to listen to feedback and answer questions from the public.
URA Workshop and Q&A Session
Town Hall | Council Chambers
222 Grand Valley Way
Parachute, CO 81635
Tuesday, April 16th | 5:00 p.m.
The Town has received and certified a citizen's petition declaring the need for Urban Renewal in Parachute. As required in C.R.S. 31-25-104, the Town Council has commenced public hearings to discuss the petition. The next public hearing on the topic is scheduled for the Town Council meeting on Thursday, April 18, 2024 at 6:30 p.m. at Town Hall.
A URA has been discussed as a possible tool for the Town to help revitalize the downtown core and implement the Town’s Downtown Development Plan (DDP) that was adopted in 2023 (Link to DDP) through a Tax Increment Financing (TIF) tool. Unlike other methods, a TIF does not create or increase any taxes, and has been successfully employed by URAs across the country to stimulate economic development, attract investment, and revitalize areas. The establishment of a URA coupled with TIF can bring about positive transformations in Parachute, fostering sustainable growth and improving overall quality of life.
