Item No. 2 - 7690 W. 38th Avenue

The Wheat Ridge Urban Renewal Authority dba Renewal Wheat Ridge (RWR) owns property located at 7690 W. 38th Avenue which has been under active environmental remediation since 2013. The Colorado Legislature passed Senate Bill 14-073 which provides a state income tax credit for the environmental remediation of contaminated land. State law requires that the City both pay for the remediation and own the land to be eligible for the tax credits. The City has on an annual basis provided funding to RWR to pay for the environmental remediation of the property. This ordinance will convey the property to the City in order to obtain the tax credit certificate and then convey the property back to RWR once the tax credits are secured so that RWR can sell the property to the Wheat Ridge Corners development for future redevelopment.
This is a recording of the August 23, 2021, City Council meeting


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Item No. 2 ( 11.12 MB )

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