Downtown Colorado Springs businesses get more than $660,000 in relief money
The Colorado Springs Downtown Development Authority announced the award of $667,500 in grants to 95 storefront businesses in Downtown Colorado Springs Wednesday.
Grants range from $2,500 to $20,000 and can be used to support payroll, rent or mortgage, utilities and payments to vendors/suppliers, according to the DDA.
More than 120 businesses applied to the Small Business Relief Fund, but not every applicant received a grant. Some of the businesses that did receive grants include Atomic Cowboy/Denver Biscuit Co, CityROCK and Brown’s Shoe Fit Co.
To see a list of all 95 businesses that were awarded grants go to www.DowntownCS.com/DDAbizRelief.
The DDA Small Business Relief Fund was comprised of $400,000 from the DDA and a donation of $250,000 from Pinnacol Assurance. Additional support came from Formstack, BombBomb, Bluestaq, Boecore, Colorado Springs Commercial, Nunn Construction, Colorado Springs Urban Renewal Authority and Amanda Luciano/Trent Properties.
Voters approved the DDA in 2006 to promote growth in Downtown Colorado Springs. The DDA is funded by a 5-mill tax levy and through Tax Increment Financing, which comes from property taxes.
“The impact of COVID-19 on Downtown’s small businesses will be long-lasting. Our hope is these grants will help support businesses as they navigate the changing consumer climate, adapt new operational processes, and continue to provide the unique character and vibrancy that enhances our city center,” Susan Edmondson, President & CEO of Downtown Partnership said in a statement.
Applicants were evaluated based on the business’ square footage, revenue, financial health, ability to rebound, location, vibrancy and unique character.
