Tools

Palisade Seeks to Establish Downtown Development Authority

by KREX News Room
by Cori Coffin

Story Created: Oct 23, 2012 at 10:16 PM MDT

Story Updated: Oct 24, 2012 at 8:02 AM MDT

PALISADE, Colo.- On Tuesday evening, Palisade's board of trustees decided to take the first major steps toward growing its downtown area with a Downtown Development Authority.

Palisade's Downtown Development Authority would be similar to the one in Grand Junction. If approved, the DDA would be championed by a local business within the established district, and it would be funded through property taxes of landowners in that district.

"We spoke with local businesses on how do we improve the look of downtown? How do we help businesses with facade improvements? And so this DDA is a funding source mechanism that can start to develop money to improve Palisade's downtown and keep it the great place that it is," explained Richard Sales, administrator for the town of Palisade.

Sales says the next step is to map out the district's boundary lines.

The value of the area in those boundaries will determine the tax rate and subsequently, will help businesses calculate how long it would take them to raise enough funds to begin improvement projects downtown.

Add a comment

Name:

Comment: 1000 Characters Left

KREX - News, Weather, Sports for Grand Junction | Montrose | Glenwood Springs - Coverage You Can Count On and its affiliated companies are not responsible for the content of comments posted or for anything arising out of use of the above comments or other interaction among the users. We reserve the right to screen, refuse to post, remove or edit user-generated content at any time and for any or no reason in our absolute and sole discretion without prior notice, although we have no duty to do so or to monitor any Public Forum.

Most Popular
This content requires the latest Adobe Flash Player and a browser with JavaScript enabled. Click here for a free download of the latest Adobe Flash Player.
News Channel 5 Weather