City gives $50,000 for study
Will advance planning for UCCS research park
By PAM ZUBECK THE GAZETTE
Colorado Springs is taking part in advancing a research park on North Nevada Avenue by allocating $50,000 toward a federally backed study. Not only will the study further define plans for the research park on the University of Colorado at Colorado Springs campus east of Nevada, it also will help qualify the park for additional federal grants. The park is a joint project by the university, the Colorado Springs Urban Renewal Authority and the Greater Colorado Springs Economic Development Corp. “This is the next logical step,” urban renewal official Jim Rees told the City Council on Tuesday. The city designated North Nevada as an urban renewal area in 2004. That means future tax revenue generated by new development can be used toward about $34 million worth of public improvements in the area. The designation sparked developers to buy land there and plan a Costco-anchored shopping center on Nevada’s west side. Rees said officials predict the research
park, on Nevada’s east side, will bring 1,000 primary jobs to Colorado Springs. “I think this is an integral part of the urban renewal area,” Councilman Scott Hente said before the the council approved the allocation. The university secured a $100,000 grant from the Economic Development Administration. The federal grant requires a 50 percent match, which will be provided in equal shares by the city and university. UCCS will oversee the study contract. No timeline was provided for when the study would be completed or when the research park’s development would begin. The city’s allocation reduces its economic development fund to $266,129.
ONLINE > Get it first This story was posted first at 11:36 a.m. Wednesday at gazette.com
