Page 44 —
COLORADO REAL ESTATE JOURNAL
— June 15-July 5, 2016
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Economic Development News
The Denver Office of Econom-
ic Development released Gentri-
fication Study: Mitigating Invol-
untary Displacement, a new
study that will serve as a tool to
guide future neighborhood pub-
lic investments within Denver.
The combination of market-
driven forces and public invest-
ment can cause housing dis-
placement and other negative
impacts of gentrification. The
study researched where residen-
tial and business displacement
has occurred in Denver, as well
as where it is anticipated to occur
unless action is taken. It includes
a set of preliminary recommen-
dations for OED to implement,
in partnership with community
stakeholders, in order to bal-
ance efforts to provide Denver’s
neighborhoods with enhanced
amenities and services while pre-
serving affordability and acces-
sibility for the current residents.
“Neighborhoods that have
long been underserved and
overlooked deserve the same
investment, amenities and ser-
vices as all of Denver’s neighbor-
hoods. But we know, especially
in this market, that we must be
thoughtful to ensure our invest-
ments intended for the better-
ment of the current residents
and businesses don’t negative-
ly impact their quality of life,”
said Denver Mayor Michael B.
Hancock. “We’re committed to
addressing this challenge head-
on, but we cannot do it alone.
This study provides a tool for the
city to support critical conversa-
tions with our partners and the
community to prevent the nega-
tive impacts of gentrification.”
“Public investment can serve
as a catalyst for private invest-
ment, which has the potential to
significantly change a neighbor-
hood’s population and charac-
ter,” saidOEDExecutiveDirector
Paul Washington. “Through this
data-driven study, we’re embrac-
ing a thoughtful and intentional
approach to help ensure that
equitable development takes
place in our neighborhoods.
We’re asking our partners from
throughout the city and beyond
to be mindful of neighborhood
vulnerabilities and be willing to
look at alternative approaches.”
OED conducted an intensive
national review of the strategies
and tools that can be employed
to reduce the negative effects of
such investments – especially
involuntary displacement of the
very residents that the invest-
ments are intended to help. Com-
pleted by OED staff, the 40-page
study includes a literature
review, best practices from other
communities, as well as a local
neighborhood analysis based on
an existing model developed by
academic researchers in Port-
land, Oregon. This analysis of
housing and demographic data
spans from 1990 to 2013, and
identifies differing stages of gen-
trification across Denver, from
areas in the later stages to neigh-
borhoods that are currently vul-
nerable.
Among its recommendations,
the study calls for strong collabo-
ration across city agencies, and
among housing, nonprofit and
educational partners, in order to
coordinate a comprehensive set
of strategies to mitigate involun-
tary displacement. Other recom-
mendations include affordable
housing creation and preserva-
tion, creating protections for
existing homeowners, boosting
middle-skill jobs creation, and a
focus on supporting local small
business in vulnerable neighbor-
hoods. The study also provides
a comprehensive review of pro-
grams deployed in other cities
that are working to minimize
displacement as neighborhoods
are being revitalized.
In the coming months, the city
will conduct a series of input
sessions and events to further
explore the study’s findings and
to build solutions with partici-
pation from Denver’s residents,
businesses, nonprofits and
neighborhoods
OED’s Gentrification Study:
Mitigating Involuntary Displace-
ment is available online at Den-
vergov.org/oed.
s
Denver Office of Economic Development
Hefes received the first
Advance Longmont Small Busi-
ness Grant.
The Mexican restaurant at 246
Main St. received the financing
from the new program, which
provides grant funding for up
to $7,000 for eligible improve-
ment projects or $2,000 for eli-
gible business startup costs.
The Longmont Economic
Development
Partnership
serves as the lead organization
in the execution of the Advance
Longmont economic develop-
ment strategy, the city’s com-
prehensive and collaborative
approach to economic develop-
ment.
Updates…
n
University of Colorado
Health broke ground on the
UCHealth Longs Peak Hospital.
The hospital and ambulatory
surgery center will span 212,000
square feet on the northwest cor-
ner of Colorado Highway 119
and County Line Road.
The full-service hospital is
expected to open in 2017. It will
contain 53 inpatient beds with
room to expand to more than
100. The hospital will feature an
intensive care unit, a Level III
trauma center and emergency
department, operating rooms,
advanced cardiac services and a
surgery center.
“We’re already seeing evidence
of increased interest and devel-
opment activity in the surround-
ing area of the hospital,’’ said
Jessica Erickson, CEO of Long-
mont Economic Development
Partnership, during the hospi-
tal’s May 18 groundbreaking cer-
emony. “This promises to bring
more jobs, more amenities, more
services and more housing that is
in great need here in Longmont.”
Haselden Construction is the
general contractor on the project
and is supported by Affiliated
Engineers Inc., BHA Design Inc.,
JVA Consulting Engineers, Proj-
ect One Integrated Services and
WHRArchitects.
s
The Colorado Economic
Development
Commission
approved REBCO Enterprises
LLC to join the Rural Jump-
Start Tax Credit Program in
Mesa County, which offers
businesses and their employ-
ees a tax break for up to eight
years.
REBCO Enterprises produces
the “Hydropot,” the world’s
only ultra-low energy, fully
self-contained, soil-less grow-
ing system that recycles water.
The company plans to produce
the two largest components for
the Hydropot in Grand Junc-
tion using local manufacturers.
The products will be distribut-
ed to hydroponics stores, nurs-
eries and wholesale distribut-
ers nationwide.
Reb Bieber, founder of
REBCO Enterprises, moved
his family to Grand Junction
from California in order to par-
ticipate in the Jump-Start pro-
gram.
“We see a lot of synergies
with industry in California,”
said Kristi Pollard, executive
director of the Grand Junc-
tion Economic Partnership,
the official economic develop-
ment agency for Mesa Coun-
ty and the first point of con-
tact for companies seeking to
join Jump-Start. “We’ve got a
strong foundation in agricul-
ture, health care and renewable
energy, and we also have a fast-
growing tech industry.”
Earlier this year, Australian-
based TSW Analytical, a global
leader in forensics investiga-
tion and technology develop-
ment, opened its first North
American operations in Mesa
County as part of Jump-Start.
REBCO and TSW Analytical
are joined by two local expan-
sion projects: Colorado Clean,
a biodegradable-plastics com-
pany, and ProStar Geocorp, a
software company providing
geospatial intelligent solutions
to pipeline and utility owners.
“Mesa County is budding
with young entrepreneurs
with big ideas,” continued Pol-
lard. “We’re excited to be able
to offer them a program like
Jump-Start to get their business
off the ground running.”
Mesa County is Colorado’s
first Jump-Start zone. Jump-
Start companies receive up to
eight years of zero state income
and sales and use taxes; zero
county and municipal property
taxes and sales and use taxes;
and zero state income taxes for
their employees. In exchange,
the businesses will add a mini-
mum of five net new jobs to the
county in high-paying, highly
