Grants, loans & TIF

Building Enhancement Grants are designed to supplement or match funds for exterior building improvement projects on existing buildings within the DDA. The grant enables applicants to enhance their design with higher quality materials, lighting, signage and façade elements, improve public safety around the building, add new public ream enhancements such as landscaping or seating, and include new public art into the project design. These enhancements stimulate economic vitality within the DDA and help the DDA to achieve its goals as identified in the Plan of Development.

Retail Incentive Grants are designed to diversify the mix of street level businesses Downtown by fostering entrepreneurship and attracting new business types not currently offered. Applicants must be business owners new to Downtown or those expanding/relocating. Resident-serving business types such as cuisine, wellness/fitness or retail not currently offered are particularly appropriate for this grant. 

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Trees are an important element of streetscape design that bring vitality, vibrancy, and a sense of well-being to the urban environment. They create a pedestrian friendly experience that removes pollutants from the air and soil, reduces the urban heat island effect, provide shade and natural filtration of rainwater, among other benefits.

Tree Canopy Grants are designed to supplement or match funds for properties within the DDA that contribute to creating a robust urban tree canopy by enhancing existing or creating new planting areas. Grants are provided on a reimbursement basis after project completion. 

Special Project Grants are funds provided for initiatives that address the goals of the Experience Downtown plan but do not readily fall into the primary categories of Building Enhancements, Signature Events or major developments for consideration of Tax Increment Financing. These projects most likely could include feasibility studies or other studies and reports; public safety initiatives; or other efforts to enhance the economic vitality of Downtown.  

DDA provides short-term, low-interest loans to storefront small businesses facing unique hardships due to lasting impacts of the pandemic. Loan applications are scored and reviewed on competitive factors, and submission of an application is not a guarantee of loan approval. Loans are not structured as start-up support for new businesses. For more information, contact Austin Wilson-Bradley.

TIF Reimbursement Agreements are available for residential projects within the DDA that demonstrate strong alignment with the goals and action priorities of the Plan of Development. While projects are reviewed on a case-by-case basis, in general residential projects showing strong alignment with Plan of Development goals may be eligible for up to 65 percent TIF reimbursement, minus fees and obligations, and not to exceed eligible expenses. Projects deemed extraordinarily catalytic in nature – particularly those offering affordable housing — may be eligible for higher TIF reimbursement. For more information, contact Austin Wilson-Bradley.

TIF Reimbursement Agreements are available for commercial projects within the DDA that demonstrate strong alignment with the goals and action priorities of the Plan of Development. While projects are reviewed on a case-by-case basis, in general, commercial projects showing strong alignment with Plan of Development goals may be eligible for up to 60 percent of eligible cost TIF reimbursement. Projects deemed extraordinarily catalytic in nature may be eligible for higher TIF reimbursement. For more information, contact Austin Wilson-Bradley.

Energy Efficiency and Conservation Grants are designed to supplement or match funds for renovation or new-construction elements that enhance the energy efficiency of commercial properties in Downtown Colorado Springs. This grant program seeks to improve the long-term sustainability and efficiency of Downtown’s older, historic buildings and encourage innovative design and conservation in new construction. The grant enables applicants to improve energy efficiency primarily through long-term/permanent improvements to properties such as energy efficient doors and windows, solar panels, LED lighting, water saving fixtures, and “smart” electrical panels and lighting. These enhancements stimulate economic vitality within the DDA and will help the DDA to achieve Goal 6 in its Plan of Development: A Leader in Innovative Urban Design and Sustainability. Grants are provided on a reimbursement basis after project completion.

For more information contact Austin Wilson-Bradley.