Stimulus Bill Aimed at Revitalizing Communities & Investing in Small Businesses Becomes Law!

SB21-252 will significantly jump-start rural businesses and urban centers across the state by revitalizing communities and transforming shared downtown spaces

DENVER, CO - Today, Governor Polis signed into law a stimulus bill from Colorado’s recovery package, which will invest in struggling local economies and accelerate the Colorado Comeback.

SB21-252, sponsored by Senate Majority Leader Steve Fenberg and Minority Leader Chris Holbert, creates the Community Revitalization Grant Program to issue grants intended to support creative projects in commercial centers that would combine revitalized or newly constructed commercial spaces with public or community spaces. Projects could include flexible live-work or vendor spaces for entrepreneurs, performance spaces, child care centers, meeting spaces for community events, and other projects that renovate vacant property for creative industries, economic development, or historic preservation purposes.

“Colorado’s unique main streets represent the very best of our diverse state. That’s why part of our recovery includes making investments everywhere from Denver to Walsenburg, from Boulder to Montrose,” said Majority Leader Steve Fenberg (D-Boulder). “Creative community spaces are the lifeblood of our cities and towns, and deserve our attention and support. I’m thrilled to see what communities Coloradans will build with the help of this funding.”

As Colorado emerges from the pandemic, there is significant opportunity to reinvigorate downtowns that have faced COVID-19-related closures, to transform rural main streets where real estate has been left unused for years, and to provide community and living space that will improve residents’ quality of life for decades to come. 

Communities across Colorado have shovel-ready projects aimed at doing just that, many of which have already obtained some degree of outside funding but lack the amount necessary to break ground or finalize an existing project. With one-time funding from the State, the Program can kickstart these projects and help maintain the vibrant diversity and longevity of Colorado’s city and town centers.

To read the bill and find more details about the legislation, visit leg.colorado.gov/bills/sb21-252.