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OPINION: We Need a Downtown Economic Recovery Zone
Bob Hart | 8/23/10
I plan to discuss, at the Town Tourism Committee meeting on Tuesday, last week's announcement of the September 11 closing of the downtown City Market and the impact of that closure on our tourism economy.

The loss of 20+ jobs and the impact of such a large visible vacancy on the downtown retail district is a big blow to our economic vitality.

I believe that the Town and County must step in and offer an incentive to City Market that might buy some time for our Community.

I do not believe it is government's place to interfere with a business's difficult financial decisions. City Market has done a good job providing grocery services to our Community and when they can no longer justify the operation of two stores in Pagosa Springs it is not our business to interfere with that business decision.

However, I believe it is time for the Town and County to offer City Market an incentive to help them re-evaluate their decision.

I believe the Town and County should look into forming a Downtown Economic Recovery Zone that would contain the Downtown City Market location, offering the Downtown City Market a two-year exemption from paying Sales Tax and a two-year exemption from Property Tax. The downtown store has operated successfully for years; maybe this set of incentives can provide the margin which makes the downtown market profitable again.

Maybe these incentives are not the long-term answer.  But if City Market could accept this offer and defer their plan to close the location for a period of two years, it would buy time for the Town and County to plan for the ultimate closing of the store and explore other possibilities for that space.

City Market may not accept such an offer, but if they do, I believe the retention of jobs, the convenience of service for our downtown residents and tourists, and the look of downtown Pagosa will outweigh the loss of sales tax and property tax for the next two years.  How much revenue will the Town and County receive from unemployed workers?  Or on sales not made at a vacant downtown City Market?

This is an opportunity for our Town and County to help the people of our Community in extremely difficult times.
 
   


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