Urban Renewal Authority and an update on the Hitching Post
CHEYENNE, Wyo. (Wyoming News Now) - The city says it is excited about the progress with the Hitching Post and hopes this is a signal of more renewals to come.
“I remember when the Hitching Post caught fire when I was in high school. It’s really cool to see that coming down and a big part of that was the tax increment financing facilitating (TIFF) that,“ said Mark Christensen, Planner 2, Planning & Development, City of Cheyenne.
The City of Cheyenne’s Urban Renewal Authority is in the process of upgrading the West Lincoln way.
The Hitching Post is coming down and the URA is looking at other blighted properties to help expand the blight study and project eligibility.
The development agreements help the tax increment financing.
The TIFF goes back to paying for the cost of environmental remediation and building demolition.
This process is meant to stimulate development.
“We’re continuing to look at some of these areas, and hope that we will facilitate some more development in the community. Often times, being in a Urban Renewal area encourages the development community to invest in an area, as they know that tax increment financing or other tools might be available to help assist with projects, " said Christensen.
As TIFF-funded projects continue, the URA is looking to expand road access to Grants Avenue and the Cheyenne Ice and Events Center.
The Hitching Post is scheduled to be completed around the first quarter of 2022.
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