Avon’s Main Street delayed as long as a year
Avon, CO Colorado
AVON, Colorado ” Wall Street’s woes have hit Main Street, and in the case of Avon, Colorado, they’ve hit quite literally, said Avon Town Manager Larry Brooks.
The town is feeling the economic trickle down effect ” the start of the Main Street construction has been delayed because there isn’t enough revenue coming in to pay off the bond money borrowed for the project.
Brooks said the town is currently making its payments with interest money, but once the town starts spending the bond money and the interest isn’t accruing, it has to have another source of money to pay the bills.
“It’s very possible we could be delaying the start of Main Street as much as a year,” Brooks said. “It’s just a sign of the economic times. Main Street isn’t going away, we just need to delay it until development that goes on in other areas would generate the necessary revenue to pay off the bonds.”
Brooks is waiting specifically on the third building in the Riverfront project to get its building permit. Building permits equal revenue for the town.
The Riverfront building is a timeshare building just to the east of the Westin Riverfront Resort and Spa. Brooks said the town expected to have that third building permit by now, thus allowing Main Street construction to begin this spring.
“I know for sure we won’t be starting this spring,” Brooks said. “Maybe (we can start) some small phase of it in the fall.”
Brooks is hoping he’ll have a better idea of a timeline for the project by the Feb. 10 town council meeting. In the meantime, he’s looking at the bright side – the extra time gives the town a chance to look at some of the designs and see if there are ways to save some money on the project.
“It doesn’t change the town’s vision by any means,” he said. “This gives us a little more time to massage and tweak some of the design elements.”
Lauren Glendenning can be reached at 970-748-2983 or email@example.com