- Associated Press - Thursday, December 17, 2015

GALLUP, N.M. (AP) - The Gallup City Council is moving forward with plans to redevelop downtown in hopes of revitalizing the area.

The Gallup Independent reports (http://bit.ly/1hoDjlp ) that that council on Tuesday approved the Metropolitan Redevelopment Area Plan and Arts and Cultural District Plan.

The plans, which are separate but similar in purpose, detail a series of specific projects as well as funding sources for the project.

The redevelopment plan outlines some ways to finance the projects such as low income tax credits, a tax increment financing district and tax deferrals as an incentive for new business.

The council decided to look more in depth into a financing district at a later date.

___

Information from: Gallup Independent, http://www.gallupindependent.com

LOAD COMMENTS ()

 

Click to Read More

Click to Hide