Why is urban renewal important?

LURA’s involvement is important because projects have unique challenges when blighted conditions are present. Contamination can burden previously developed sites through years of neglect, requiring significant work to restore their potential. The tax increment financing available through urban renewal allows communities to invest in thoughtful projects by filling the investment “gap” where properties or buildings are hindered by blight. Without urban renewal, it would be harder for property owners to tackle the challenges associated with redevelopment or rehabilitation.

Show All Answers

1. About LURA
2. What is urban renewal?
3. What is "blight"?
4. What is Tax Increment Financing?
5. What is LURA's role in the community?
6. Why is urban renewal important?
7. What financing is available through LURA?
8. Does being in an urban renewal area affect my property tax or property value?
9. Why would I, a property/business owner, want to be included in an urban renewal area? What will the urban renewal plan do for me?
10. Does LURA only work on redevelopment and demolition projects?
11. How long does urban renewal last?
12. How can I get in contact?