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Craig City Council approved the formation of the Craig Urban Renwal Authority’s first urban renewal area Tuesday, and now CURA is close to being able to accept applications for tax increment financing.
Urban Renewal Area 1, which encompasses the old Centennial mall and areas north and south of it, not including the former Kmart building, was given the go-ahead by City Council at Tuesday’s meeting. That’s the first of two potential Urban Renewal Areas.
Property owners within the plan area will receive a notice of the plan within the next seven days, according to the attorney for CURA, Carolynne White. After that, applications can be accepted for URA 1.