Urban Renewal Area Background
The Winston Urban Renewal Plan (Plan) was adopted by the the City of Winston on November 6, 2006. The maximum indebtedness established in 2002 for the Plan is $9,227,600. The maximum indebtedness is the total amount of funds that can be spent on projects, programs, and administration in the urban renewal area over the life of the urban renewal plan.
The frozen base assessed value (“Frozen Base”) of the Urban Renewal Area is $13,934,239. The FY 2021/2022 total assessed value is $26,893,836. The excess value, or the value on which taxes are paid to the urban renewal agency in FY 2021/2022 is $12,959,597.
The Winston Urban Renewal Agency (“WURA”) was established by the City of Winston as a long-term investment strategy to fund and construct capital improvement projects in the Urban Renewal Area (“Area”). The Area is approximately 283 acres, or 18.42% of the 1,536 acres.
WURA is a separate legal and financial entity, governed by the members of the City of Winston City Council.
Urban Renewal Goals
WURA’s guiding document is the Plan and Report, which lists a series of goals and objectives to guide
activities in the urban renewal area. Goals listed in the Plan are as follows:
Goal 1. Provide incentives for economic development and commerce.
Goal 2. Provide efficient, safe, and pedestrian friendly streets, streetscapes, and open spaces.
Goal 3. Provide services to retain and attract new employment opportunities.
Goal 4. Make improvements to public infrastructure.
Goal 5. Upgrade and repair existing buildings within the renewal area.
Goal 6. Promote private and public redevelopment of City Center.