Arvada Weekly Update: AURA Projects

June 14, 2017

The Arvada Urban Renewal Authority (AURA) was created in July of 1981 when voters decided it was appropriate to redevelop the area in southeast Arvada near Interstate 70 and Wadsworth Boulevard. The area was called the City Center Urban Renewal Area. Over 25 years, AURA board members and staff oversaw the transformation of this formerly blighted and underutilized area into a vibrant commercial and retail center including Costco, Home Depot, Lowe’s and Sam’s Club. In addition, the Water Tower Village brought 1,200 residents to the south end of historic Olde Town Arvada, further adding to its vitality. Between 1981 and 2006 (the 25 year life span of the City Center Urban Renewal Area): • Sales tax revenue grew from $449,000 to over $10,000,000 • Property tax revenue grew from $1,650,000 to over $6,000,000 Since the expiration of the City Center urban renewal area in 2006, sales and property tax revenues have continued to rise.  Click here for PDF AURA PROJECTS