The Urban Revitalization Agency (URA) was approved with a Tax Increment Financing provision (TIF) and has a base year of 2014. TIF is a state authorized, locally driven funding mechanism that allows cities and counties to direct property tax dollars that accrue from new development, within a specifically designated district, to community and economic development activities.
The URA was specifically designed to promote the redevelopment and stimulation of investment within the central business district encompassing the general uptown area north of 2nd Street, east of South Jackson Street, south of Boardman Street, and west of Arizona Street. The URA provides matching grants and issues low interest loans to help fund property redevelopment and infrastructure projects