Renewal Authority (MURA), which leverages Tax Increment Financing (TIF) in the Colorado Outdoors Project. Russo clarifies, “We primarily focus on horizontal improvements like utility pulls, curb cuts, side walks, gutters, and parking lots. It ensures our investments remain beneficial for the long term, even if ownership changes hands.” Montrose has also taken an inventive approach to supporting restaurants through its commercial kitchen grant program. “If someone wants to open a new restaurant, we’ll cover permanent equipment like walk-in coolers, hoods, and ranges,” Bell explains. “Over the past five years, this has resulted in significant private investment, ranging from $1 million to $9 million per project.” The city’s investment in the Rathbone Hotel, a boutique property with 17 rooms, has also catalyzed growth in the downtown district. Russo highlights its impact: “This project wasn’t just about adding a hotel; it was about creating a ripple effect. Now, is truly the jewel of western Colorado and an envy of other cities around the state. “We are fortunate to live in one of the most beautiful locations in the world. A city large enough to provide all of the essential services and opportunities while still maintaining its small town charm. Not many cities can check all the boxes like Montrose”, says Reed. ATTRACTING BUSINESS TO A THRIVING DOWNTOWN CORE As Montrose continues its transformation, the downtown area has become an epicenter for small business growth and creative redevelopment. Bell explains the city’s business-friendly philosophy: “We’ve been fortunate that Montrose naturally attracts interest. In downtown, we focus on small business development, helping existing businesses expand, especially during challenging times like the recession or COVID. Retention has been a big part of our strategy.” One of the city’s key tools is the Montrose Urban Anthony Russo Bill Bell 5 CIVIL AND MUNICIPAL VOLUME 06, ISSUE 02 MONTROSE, CO
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