What we do
Development projects in urban renewal areas are often complex and costly. Castle Rock Renewal can help bridge financial gaps by undertaking public improvements, land assembly, demolition or other activities.
Gap financing may come through Tax Increment Financing (TIF). When an urban renewal plan area is created, a base assessed value is determined by the County Assessor. Only the tax increment created by new development in the plan area goes to an urban renewal authority for a period not to exceed 25 years. Tax entities who received tax revenue before the urban renewal plan continue to receive the tax revenue they were receiving.