Council approved an intergovernmental agreement with GURA that allows for the collection of a sales tax increment in order to help fund the Natural Grocers project per the Central Neighborhood Urban Renewal Plan.
The IGA states the city will share back to GURA all general fund sales tax above the base amount at $37,000, and 75 percent of the amount above $37,000 for up to five years or until $750,000 is reached, according to Steve Glueck, interim executive director at GURA.
With the passing of the Central Neighborhood Urban Renewal Plan and Project earlier this year by city council, GURA is able to utilize a limited use of sales tax increment in order to help fund projects per the approval of council.
An additional $800,000 is needed to help fund the $5 million redevelopment project which is primarily funded through a property tax increment. Additional upgrades to the new building which will replace the Golden Bowl and former Pedal Pushers sites include photovoltaic panels, LED lighting, electrical vehicle charging stations, a community garden and other various exterior upgrades.
“I think the benefit to our community on more than just a financial level will be profound,” Councilor Miller said. “I support this.”
The project is expected to break ground sometime next year after the Golden Bowl closes its doors on Sunday, February 23.
Before the redevelopment can begin, money acquired from the sales tax increment will go toward petroleum remediation after contamination from a gas leak from a prior gas station located at the adjacent lot next to the Golden Bowl.
“When the gas station closed in the late 1980’s the underground gas tanks were removed and it was determined that they had leaked,” Glueck said. “It was mostly cleaned up at that time, but some of the contamination made it over to the subject property, and will be cleaned up with this project.”
Until then, the Golden Bowl remains open, charging $2.50 per person, per game or all you can bowl from 2:00 p.m. to 8:00 p.m. for just $8.00. To participate on “Final Leagues” contact the front office at 303-279-7846 or visit www.goldenbowl300club.com.
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