The Lafayette Urban Renewal Authority (LURA) is the public entity that affects revitalization and redevelopment in the Old Town area. The authority works in partnership with property owners to improve existing structures, eliminate blight, attract new commercial and mixed use development, and prevent the deterioration of properties within the corridor.
Since the authority’s inception in 1999, LURA has been involved when property owners are preparing to sell, rehabilitate, or redevelop, and has provided resources or advice to ensure the Authority’s goals and objectives are met. Some examples are loan assistance, architectural design services and feedback, signage, patio construction and enhancements, and ADA projects.
Currently there are four business tenants along the 700 block of Public Road that were set up years ago with month-to-month leases by the property owner who had the intention to eventually sell or redevelop his investment. The property owner has determined he is now ready to redevelop. LURA has collaborated with the property owner to provide administrative resources to assist his existing tenants with potential relocation, and to ease transition to the next step of preparing the property for redevelopment.
A re-development plan for the property has not been submitted. Any plans for a project along the 700 block of Public Road will be discussed in public meetings and extensive community and stakeholder input is anticipated.
LURA has not violated any transparency standards. According to Colorado state statutes, executive sessions are allowed for a variety of circumstances including C.R.S. 24-6-402(4)e for determining positions relative to matters that may be subject to negotiations; developing strategy for negotiations; and instructing negotiators, and C.R.S. 24-6-402(4)(a) for the purchase, acquisition, lease, transfer or sale of any real, personal or other property interest.