FLOOD10354 - Laserfiche WebLink

Home Browse Search

Enterprise Zone The south downtown industrial area is within a State designated Enterprise Zone, Enterprise Zones are eligible for special tax incentives to encourage expansion and relocation of businesses, thus creating new jobs and investment opportunities in economically distressed regions, State Highways The northbound section of the 5th Street bridge is scheduled for replacement in 1988-89, This is yet another opportunity for utilizing the State's resources to further local riverfront development. Future trail extension along the north bank of the river will require access under the 5th Street bridge. The State has agreed to provide an access under the north end of the bridge for a trail, and a separate bikeway/walkway will also be provided on the new bridge. Grand Junction/Mesa County Riverfront Commission The City Council recognized the need for a separate entity to oversee the Riverfront Project. The Grand Junction/Mesa County Riverfront Commission was formed to guide not only the urban riverfront revitalization, but the redevelopment of the entire river corridor throughout the valley. The Commis- sion, consisting of a diverse group of community leaders with many areas of expertise, was appointed jointly by the City Council and County Commissioners. All have an acute inter- est in cleaning up the river corridor and have the time and energy necessary to get things done. Since its inception in 1987, the Riverfront Commission has made great strides for the project. Two important achievements include rallying political support at all levels and successful fund raising. Downtown Development Authority The Downtown Development Authority (DDA) is an autonomous governmental body charged with the revitaliza- tion of downtown Grand Junction. Created by downtown property owners and businesses in 1977-, the Authority's efforts include economic development planning, attracting developers, investors, and new businesses to the downtown, and packag- ing unique financing mechanisms. With its planned expan- sion toward the river, the DDA could be instrumental In assisting with commercial/industrial redevelopment. 6 ~~~: Audubon Section of the Colorado River 1Tail Funding Assistance Funding for the Riverfront project has been received from a variety of sources. A major boost for the urban segment has come from the Energy Impact Fund. The State's Energy Impact Assistance Fund uses energy-related revenues to assist communities impacted by energy "booms or busts". Grand Junction is eligible for these funds due to the impacts caused by the oil shale bust of 1982. The City has received a $2oo,<XX> grant which will assist in riverfront land acquisition. The grant will be matched by $100,000 from the Grand junction Lions Club and $150,000 from the City, The Colorado State Trails program provides funding for trails through the use of lottery revenues. Grants have been received from this program for several local projects, and it will continue to be an important source of funding. Local lottery funds received can also be used for trail projects. Many other funding options will be pursued to supplement local investment in the project. The community has undertaken an ambitious multi-year, multi-million dollar program to develop its urban waterfront. The program involves the development of a broad stretch of the Colorado River at its confluence with the Gunnison River, as well as the revitalization of the south downtown commer- cial area. By reclaiming the riverfront area and making it attractive, useful, and inviting, Grand Junction hopes to capitalize on a neglected resource, thus revitalizing the downtown area, enhancing economic diversity, improving the appearance of the south entrance, and providing open space and recreational amenities.