Town of Castle Rock Economic Development Assistance Program
The Town of Castle Rock, Colorado, at its sole discretion, may provide Economic Development Assistance for the retention, expansion, or new location of targeted businesses that help the community achieve its stated goals. These goals currently include high quality non-residential development; creating regional draws that bring revenues to the community; preserving and enhancing downtown Castle Rock as a viable central business district; and becoming a free-standing, self sufficient community.

Targeted businesses identified in the policies include:

• Primary employers creating or retaining high paying jobs that match the skills of the Town’s workforce
• Urgent care medical facilities
• Post high school educational and training facilities
• Recreation and entertainment facilities
• Retailers currently under-represented in Castle Rock.

Depending upon the project, a variety of assistance is available, including:

• Expedited development review and approval schedules
• Waiver or reduction of annexation, rezoning and platting fees
• Rebates of Building Permit Fees, Utility System Development Fees and Development Impact Fees
• Rebates of Building Use, Sales or Property Taxes
• Assistance with public infrastructure requirements
• Assistance with applications for Federal, State, County or School District programs.

Community Development Block Grant Program (CDBG):
Douglas County is participating in the CDBG program which is administered by the U.S. Department of Housing and Urban Development (HUD). Douglas County expects to receive $694,000 annually from 2004-2008 for housing, community development and economic development. It includes a loan program to foster the creation and expansion of small businesses and particularly to encourage the start up of home businesses. Amounts and terms of loans are determined on a perproject basis.

New/Expanding Business Incentive Payments (County):
The State of Colorado allows local taxing units to provide incentive rebates to new or expanding companies. These rebates are negotiated with the local county or municipality and can be as much as 50% of the amount of taxes levied by the county upon the taxable personal property directly attributable to the new business or existing business’ expansion. This rebate is allowed for a maximum of four years. For information ontact Meme Martin at 303.660.7449.

Note: For certain targeted businesses, other incentives may be available on a case by case basis.