Urban Renewal plan passes latest test
The Colorado Springs Urban Renewal Authority voted Wednesday to support the latest version of a consultant’s plan to revitalize a blighted business corridor along South Nevada Avenue.
The plan, researched by Ricker-Cunningham of Centennial, suggests the corridor between Interstate 25 and the Southgate area could support $80 million in private development and $25 million in public infrastructure improvements.
Two developers want to bring new shops and better housing to the area.
“(We’re) trying to scrub what’s not working and what’s attracting the wrong elements,” said Danny Mientka, one of the developers.
The authority still must determine how much in projected sales tax revenue could be used for infrastructure improvements.
Eminent domain won’t be used and isn’t necessary, authority Chairwoman Wynne Palermo said, because the corridor’s current business owners don’t object to the plan.
“Actually, it will increase their property values and there’s more upside than downside,” she said. “Perception becomes reality.”
Once actual costs are determined, the plan will receive final consideration by the City Council later this year.
In a related matter, the authority decided to wait two weeks on deciding whether to support a partial funding plan for a proposed new Olympic museum.
The museum board sought approval for a plan to sell around $20 million in bonds, with the rest of the cost to be paid with private donations.
However, some authority members believed they should have had more information in advance, and more involvement in the board’s plan.
“It requires this body to get comfortable with the notion of doing a bond issue,” said authority member David Neville. “Maybe that’s the hardest issue. This board is a little gun-shy because of our experience with bonds.”
Fellow authority member Robert Shonkwiler had stronger words.
“I’m not very happy about us being in this position — and I’m as big a supporter of City For Champions and the Olympic Museum — as anyone in this room,” he said. “I’m just flabbergasted.”
B.J. Hybl, the museum’s treasurer, downplayed the situation and said the board would do what it can to resolve the authority’s concerns.
“We’re on track to open in December 2018 near America the Beautiful Park,” he said. “There was a communication problem but we’re happy to work with (the authority).”
