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Colfax businesses, Bio Fund and business incentives dominate council concerns over BRT impacts
Summary
Council members pressed DEDO and the mayor about business impacts from East Colfax BRT construction and whether Bio Fund and business incentive funds are sufficient; DEDO said more than 54 businesses received Bio Fund grants and that over $25 million was committed to that program previously.
Discussion of the Bio Fund and business incentive fund drew substantial attention as councilmembers described business closures and revenue losses on East Colfax during BRT construction.
DEDO said the Bio Fund is dedicated to businesses affected by the East Colfax Bus Rapid Transit (BRT) project; the presenter said more than 54 eligible businesses have received grants this year and another round of roughly $700,000 will be distributed before year end. The agency also said it has committed more than $25,000,000 in ARPA dollars previously toward business assistance programs.
Councilmembers said high-profile closures on Colfax have caused severe hardship and asked whether the city should develop a formulaic approach to fund mitigation for future large construction projects rather than relying on limited SRF pools. The mayor and councilmembers urged a fuller review before advancing any additional BRT corridors, noting that the current approach to mitigation is not sufficient to prevent business dislocation.
DEDO described the business incentive fund as a critical yet limited tool for attracting or retaining large employers; the presenter said SRF pools have committed dollars in contracts that pay out over multiple years and the city must balance competitive incentives with neighborhood-level supports. Councilmembers requested detailed lists of BIF commitments, recipients and the geographic distribution of benefits.
No formal votes were taken; committee members asked DEDO and finance to provide follow-up documentation and to involve general services, Dotti (right-of-way/transportation staff referenced) and other agencies in planning for mitigation on large projects.
