The Downtown Grand Junction Development Authority has agreed to contribute $500,000 toward the construction of an amphitheater in Las Colonias Park.
John Schneiger, the newly hired director of the DDA, said Las Colonias Park and additional development along the Colorado River is among the efforts in which he expects the DDA to become involved.
The DDA board of directors approved the contribution in response to a request from the City of Grand Junction The donation is contingent on the receipt of a $2 million energy impact grant from the Colorado Department of Local Affairs.
If the city is successful in obtaining the grant, the $500,000 DDA contribution will leverage an additional $1 million in matching funds and allow for a budget of $3.5 million for the amphitheater project.
The city has received offers of financial support from several agencies to fund the amphitheater.
The project is part of the 123-acre Las Colonias Park under development along the Colorado River south of downtown.
The DDA uses what’s called tax increment financing to fund capital improvement projects, economic development and other efforts that promote the downtown area.
The DDA has funded or joined in projects renovating downtown streets and sidewalks and the Avalon Theater as well as purchasing the building housing R-5 High School and former White Hall site.