PARKER AUTHORITY FOR REINVESTMENT CAPITAL FUNDING

Distribution: Public Improvements Fund 100%

Source: Parker Authority for Reinvestment (P3)

Collection: As an Urban Renewal Authority, it is P3’s charge to reduce and eliminate blight by removing barriers to private development and reinvestment to help improve our community. P3 is participating with the Town on several urban renewal projects.

Trend:

• In 2020, P3 contributed $8 million toward the overall Cottonwood Bridge widening project, which has a total cost estimate of $11 million. The contribution was recorded as intergovernmental revenue in the Public Improvements Fund.

• The remaining $13 million contributed in 2020 is dedicated to funding of capital projects in the Parker Central Urban Renewal Area. The same accounting methodology was followed with this amount.