Following The Money - Part Three: Downtown
What's happening?
Photograph from the City of Lafayette
The third part of the money series turns an eye to our Old Town and sections of Public Rd., East Simpson St. and Baseline Rd. This area merits its own report because it operates under a different method than the rest of the city. It’s an Urban Renewal Authority. (URA)
AN URBAN RENEWAL AUTHORITY IS CREATED
On April 2nd, 1999 a petition circulated by Vicki Trumbo, Executive Director of the Lafayette Chamber of Commerce was verified to have 33 valid signatures. The petition said:
On April 20th, 1999, based on that petition, the city council passed a resolution creating an Urban Renewal Authority with the council sitting as the board.
The full text of the resolution:
BLIGHT CONDITIONS
A Conditions Survey conducted in March and April of 1999 was the inpetus for this action. It stated:
WHAT IS AN URBAN RENEWAL AUTHORITY?
An Urban Renewal Authority (URA) is a state-regulated board with a 25-year lifespan, created to address blight. Here’s more information for those who like to dig in on details. It operates mostly on its own, with little city council oversight. The mayor appoints the members and since it’s a state board they don’t have to be residents of Lafayette. Our version is called the Lafayette Urban Renewal Authority and it’s generally referred to as LURA.
The city council approves the annual budget. If LURA wants to spend more than 40% of their annual budget on one project they must obtain council approval. Occasionally the members participate in a joint council workshop to share what’s happening in the district, otherwise, they operate independently with an executive director handling the day to day details.
Back in 1999, the elected City Council sat as the board. Eventually, that changed when Carolyn Cutler was mayor and it became a board without a council presence, comprised of mostly Lafayette residents. Carolyn has remained a member since that change and is currently vice chair. Longtime member Kevin Mueller is the chair.
EXECUTIVE DIRECTOR OF LURA
A member of the city staff has acted as the director of LURA over its lifetime, the current director is also our Economic Development Director, Brigid Keating. Since LURA only meets once a month the director is charged with making things happen. This includes working on economic development deals with potential new businesses, helping existing businesses improve their buildings, working on signage, holiday lighting, landscaping plans, and other cosmetic improvements, finding more parking opportunities, and a variety of other issues, all with the approval of the authority.
WHERE IS THE URBAN RENEWAL DISTRICT? WELL THERE ARE TWO.
This image shows two urban renewal districts because nothing is simple right? After creating the original district, in 2002 it was determined that a second district was needed. This image shows us the Old Town district in green and the second district on S. Boulder Rd in yellow. I usually say they make sort of a horseshoe shape with one running down the south side of Baseline, and along Public just past Spaulding. With a zag down E. Simpson on the way. The second district encompasses what used to be the Albertsons and Walmart shopping center where the Flatirons Church is now. It jumps to the south side of S. Baseline where Jax is and snags the bowling alley where it ends at 287.
HOW IS IT FUNDED?
LURA uses a funding method called Tax Increment Financing or TIF. The property and sales taxes were tallied when the TIF was formed and that dollar amount is called the base. That base continues to go into the general fund but anything over that goes into the LURA funds for the 25 years the URA is in existence. The property tax base is readjusted every two years. A couple of graphics from a recent city PowerPoint presentation about LURA show how it works.
The base for sales taxes was set at $300,274.
SALES TAX COLLECTED THROUGH 2019
I found this chart in an annual report from 2019 it’s the best information I could get at this time. It certainly illustrates how the fund increases.
THE URBAN RENEWAL PLAN
In Aug 2000 an Architectural Review Vision Statement was created with design standards and guidelines.
A Downtown Vision Plan was created in 2011. The consultants hired to study the area also got feedback from residents and business owners. This plan is where the area's creative, diverse, and eclectic tag originated.
LURA 2024 BUDGET
Screenshots from the LURA budget presentation for the 2024 budget.
OCTOBER 1999 TO OCTOBER 2024 EQUALS 25 YEARS
The TIF method of funding LURA will expire in October 2024. The city is currently working to determine what comes next if anything. Stay tuned for Part Four.
Thanks so much for providing so much detail in a way that is easy to understand! Very interesting topic too.