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Council approves TIF review for downtown Bell Building despite questions on parking and payoff
Summary
Cheyenne’s City Council voted Oct. 27 to adopt a resolution approving the Bell Building urban renewal plan and to pursue third‑party review for potential tax‑increment financing.
Cheyenne’s City Council voted Oct. 27 to adopt a resolution approving the Bell Building urban renewal project and to move the plan forward for third‑party review under the city’s tax‑increment financing (TIF) process.
Amy Surdam, co‑owner of the Bell Building, told the council the 1913 structure has been vacant since the 1980s and that she and partners have invested roughly $400,000 of private funds plus $50,000 from the Downtown Development Authority (DDA) and $50,000 from the Joint Powers Board to stabilize the façade and secure the building. Surdam said the proposal would create retail on the first floor, restore the garage for about 32 public parking spaces, and add five to seven residential lofts on an upper floor. She estimated the total project cost at an additional $6–7 million to install utilities, an elevator, fire suppression and other infrastructure.
Surdam said the city’s approval to move forward with a TIF would not itself obligate the city to finance construction. If council approves the TIF report, she said the next step would be a third‑party review of costs and pro forma projections and then a separate development agreement showing what costs might be included in any TIF package.
Speakers during public comment and council discussion emphasized downtown revitalization but pressed for financial clarity. Councilmember Mary Collins said she has historically opposed TIFs because they lock tax bases for up to 25 years but supported taking the TIF application forward for review after staff estimated a 25‑year increment of roughly $930,000. Councilmember Layborn described the project as consistent with prior Brownfields stabilization and said additional parking downtown would support business and tourism. Councilmember Moody opposed the resolution.
Mayor’s staff said the next step is a third‑party analysis to validate costs and performance before any development agreement or commitment of incremental tax revenues is brought back to council for approval.
The resolution passed by voice vote with one recorded no vote (Mister Moody).
