DENVER — Mayor Mike Johnston's administration on Thursday announced the expansion of the Downtown Development Authority to allow the city to invest up to $500 million in the area, which has been struggling to attract visitors since the pandemic hit.
Standing outside Union Station, Johnston said increasing the area of the taxing authority that was created for the city’s iconic transit hub would open up more money for projects in the heart of Denver. It's the first major step the mayor is taking this year to address his 2024 goal of creating a "vibrant" downtown.
The expansion would also keep the authority alive, since it is close to paying off the bonds for the project it was originally created for.
Currently, the Downtown Development Authority covers Union Station and the blocks around it. The expansion would nearly triple the geographic area to cover most of downtown from Colfax Avenue, Grant Street, Speer Boulevard and 20th Street.
Read the full story on the Denver Gazette here.
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