The Colorado Springs Downtown Development Authority (DDA) Grants

The Colorado Springs Downtown Development Authority (DDA) is guided by a mission to build public and private investment partnerships that promote the economic and physical growth of Downtown Colorado Springs. Downtown property owners voted to establish the DDA in November 2006 to provide programs and financial incentives to foster downtown development. DDA is governed by a board of 11 people appointed by Colorado Springs City Council. Downtown Partnership staff execute the work of the DDA as a contracted affiliate. In 2016, City Council adopted the updated Experience Downtown Plan Volume I as the official Plan of Development for DDA. The DDA is funded in two ways: first, by a 5-mill tax levy within the district to support its operations, and second, through Tax Increment Financing (TIF). The latter is the capture of increased property tax revenues within the district following a baseline assessment. TIF revenues go into a special fund and, as it grows, the funds can be leveraged for support of downtown projects in the form of grants and reimbursement agreements. All projects receiving grants and reimbursement agreements from the DDA must demonstrate alignment with the goals and priorities of Experience Downtown Master Plan. Grant funding decisions are made by the 11-member board of the DDA, which meets monthly on the second Tuesday of each month.