After thoughtful consideration and a yearlong process, the Parker Town Council adopted two new urban renewal plans at their Oct. 15, 2012 Town Council meeting. The Parker Authority for Reinvestment (PAR), the Town’s Urban Renewal Authority, will implement these two key plans within their respective plan boundaries. Adoption of these plans, known as the Cottonwood Commercial Area Urban Renewal Plan and the Parker Road Urban Renewal Plan, will complement the Town’s existing urban renewal plan, the Parker Central Reinvestment Plan. In addition, they will allow PAR to help create public private partnerships to foster development and redevelopment throughout these areas.
The Town first established the PAR in 2006 to assist in the revitalization of aging areas in our community. Urban renewal can support a wide variety of redevelopment projects such as infrastructure constraints, removal of hazardous materials or conditions or other public benefit improvements. However, redevelopment in urban areas is more complex and often times more expensive to accomplish. But, state law provides urban renewal authorities tools to tackle the challenges of redevelopment and development and spur reinvestment projects that may not otherwise occur.
The PAR Board is committed to the citizens of Parker to create successful projects that enhance the quality of life of our residents. The benefits of these two new urban renewal plans and potential redevelopment projects will not only improve the community’s physical appearance, but also contribute to the economic vitality of the area by attracting new commercial activity, job creation and enhanced property values.
For additional information on urban renewal or these plans, please contact Bryce Matthews at bmatthews@parkeronline.org or 303.841.0353 or John Hall, PAR Director, at jhall@parkeronline.org or 303.841.0353.