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<br />HIGHWAY 42 REVITALIZATION AREA <br />URBAN RENEWAL PLAN <br />City of Louisville, Colorado <br />Approved December 2006 <br />Prepared for: City of Louisville Revitalization Commission and Louisville City Council <br />1.0 Preface and Background <br />1.1 Preface <br /> This Highway 42 Revitalization Area Urban Renewal Plan (the "Plan" or the "Urban <br /> Renewal Plan") has been prepared for the Louisville Revitalization Commission of the <br /> City of Louisville, (the "Commission") pursuant to the provisions of the Urban Renewal <br /> Law of the State of Colorado, Part 1 of Article 25 of Title 31, Colorado Revised Statutes, <br /> 1973, as amended (the" Act"). The administration of this project and the enforcement of <br /> this Plan, including the preparation and execution of any documents implementing it, <br /> shall be performed by the Commission. <br />1.2 Description of Urban Renewal Area <br /> According to the Act, the jurisdictional boundaries of the Commission are the same as <br /> the boundaries of the municipality. Additionally, within the municipal boundaries there <br /> may be one or more urban renewal areas. <br /> Under the Act, an urban renewal area is a blighted area, which has been designated as <br /> appropriate for an urban renewal project. In each urban renewal area, conditions of <br /> blight must be present at a level defined by the Act before the Commission can legally <br /> exercise its powers. Finally, in each urban renewal area, undertakings and activities that <br /> constitute an urban renewal project are implemented as a way to eliminate the conditions <br /> of blight. <br />G:\ COUNCIL \Agreements\2006\Hwy 42 Urban Renewal Plan Final.doc <br /> 3 <br />