The downtown businesses from the east end of town to 8th Street received a little reprieve when the Colorado Department of Transportation (CDOT) recently announced that it will delay the U.S. 160 downtown reconstruction project until spring of 2025.
As cheers went up around the room, businesses realized they had some time to breathe and actually get “things” in order.
What are some of those “things” that businesses need to work on before the project arrives full force?
Get your finances in order. There is the distinct possibility that your business activity will be interrupted. Are you planning for that interruption from revenues garnered this summer and fall season? Can you put a little aside each month to plan for a downturn in revenues?
In addition to setting money aside, thanks to the efforts of Region 9 and through the administration arm of the Pagosa Springs Community Development Corporation, the Business Disruption Loan Program will be put into effect. There will be no interest for six months and 1 percent thereafter for a limited time. This program is meant for disruption only and short-term only. Items such as meeting payroll, taxes and utilities would qualify. It is not available in advance. It is not meant for you to expand your business. It is for emergency use only; however, it can be a lifeline for your business.
For those in the 400 block of U.S. 160, can you do any kind of redesign and open up an area in the back of your space and utilize the alleyway? There are several businesses already thinking of this idea. If there could be some improvements to the alley way, this might be a great walkable route to that business corridor. Really look at your space. Could you even do something temporarily?
Are you looking at partnering with other businesses to create a reason to come shop downtown? Will you offer specials to entice people to come downtown, brave the construction and support our businesses downtown? Depending upon how the construction is planned out, can the businesses do something a block or two at a time?
Can the efforts be themed, fun and engaging? Now is the time to get with your neighbors and do some planning. Then, when the schedule is announced, you will be ahead of the game.
Look at your inventory now for a projected downturn in business next year. How can you adjust your inventory in preparation for the construction? Perhaps ordering the quantity of items you usually do is not in your best interest. Since ordering is usually done well in advance, look at your ordering systems and history now.
Get involved. Don’t let the short construction reprieve catch you shorthanded. Be the smart business owners we know we have, and utilize this time wisely.
Plan ahead, take time to meet with your business neighbors, and get started now.
Mary Jo Coulehan is Executive Director of the Pagosa Springs Chamber of Commerce, and also serves on a number of local and state boards.