Why is urban renewal important?

LURA’s involvement is essential 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. Without urban renewal, it would be harder for property owners to tackle the challenges associated with redevelopment or rehabilitation. 

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1. What is urban renewal?
2. What is Tax Increment Financing?
3. Why is urban renewal important?
4. Does the city offer economic development incentives for new retail projects or businesses that provide primary jobs?