Urban Renewal Redefined
What is Parker's URA?
P3 is an organization that works to enhance Parker through collaboration and investment in the community.
P3 brings together developers, residents, and local government to encourage projects that improve the community.
P3 is dedicated to improving and progressing Parker while maintaining the community's small-town feel and high quality of life.
P3 projects are public/private partnerships that include improvements to public spaces and amenities.
P3 collects thoughtful community feedback and integrates it into final plans.
While the majority of funds come from the private sector, public investment comes from Tax Increment Financing.
* Not all URA projects use TIF
- Create safe and beautiful spaces for public benefit.
- Proactively encourage the right type of growth in the right areas.
- Be flexible and entrepreneurial in identifying opportunities and solutions.
VALUEP3 is a true partner that is committed to defining and accomplishing both public and private goals that improve the Parker community.
Unique Financing Ability of P3
As an Urban Renewal Authority, P3 has access to unique financial tools to encourage redevelopment, namely Tax Increment Financing, or TIF. In order to take advantage of this tool, the redevelopment area must demonstrate certain conditions that are described as Blight.
What is Blight?
According to Colorado State Statute, an area is considered blighted when at least five of the following elements exist:
Our strategic Plan
In 2017, Partnering for Parker’s Progress (P3) initiated a strategic planning process to develop a clear vision and recommendations for the organization as a whole, and for activities and undertakings in the three urban renewal districts that P3 manages. The purposes of this Strategic Plan are to:
· Create consensus and alignment for the mission and work program among diverse stakeholders;
· Incorporate today’s market realities and dynamics, and look forward through the next five-to-ten-year investment cycle; and
· Guide the organization’s evolution and enhance its value proposition over the next several years
Board of Directors
PARAC VICE CHAIR