To ensure the Town of Frederick remains vibrant and responsive to community needs, the Town is addressing redevelopment opportunities. The Frederick Urban Renewal Authority (FURA) was created to provide a regulatory and financial vehicle for improving and redeveloping properties and facilities within defined Urban Renewal Areas (URAs).

Accordingly, FURA was authorized to provide funding for administration, planning, and financing of revitalization and redevelopment projects. FURA's principal revenue sources are sales tax increment and property tax increment within each of the URAs. Frederick's Board of Trustees and representatives from other taxing districts serve as the FURA Board of Directors.

Since its inception in 2013, FURA has established eight URAs:

Eagle Business Park
Former Public Works Site
Meadowlark Business Park
Miner's Village
Miner's Town Centre
Talbert Building 206 5th Street
Wyndham Hill

Benefits of Urban Renewal

  • Creating new local jobs (temporary and permanent) keeps earnings local.
  • Establishes an environment that fosters growth in new businesses.
  • Promotes the introduction of new housing products and offers resources for reinvestment in established neighborhoods.
  • Provides upgraded and needed infrastructure for future growth.
  • Supports local historic preservation efforts.
  • Keeps sales tax dollars local for use within the urban renewal area or community-at-large.
  • The only method of financing capital improvements that do not require an increase in taxes.
  • More effectively leverages transit improvements and correspondingly lowers regional infrastructure costs.
  • Identifies capital improvements needed to stabilize existing areas and encourage reinvestment.