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Mayor, Cheyenne Leads push MOU to use voter-approved 6p funds to revive Heinz and 'the Hole'
Summary
The Finance Committee recommended the City Council adopt a resolution authorizing the city to negotiate a memorandum of understanding with Cheyenne Leads to establish a gap-financing program using voter-approved 6p sales-tax funds to catalyze downtown redevelopment of the Heinz building and the adjacent site known as "the Hole."
The Finance Committee recommended that the City Council approve a resolution authorizing the City of Cheyenne to enter into a memorandum of understanding with Cheyenne Leads to establish a large-project gap‑financing program using voter-approved 6p sales and use tax funds to support downtown redevelopment, specifically naming the Heinz building and the site known as "the Hole."
Mayor Patrick Collins outlined the history behind the proposal, saying the city formed a URA and a tax-increment financing program after earlier downtown blight issues and that Proposition 12 on the 6p ballot created a $3,500,000 large-project…
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