Businesses along the South Academy corridor in Colorado Springs are facing severe financial distress due to ongoing construction that has lasted over a year. During a recent government meeting, representatives from these businesses voiced their frustrations, highlighting significant revenue losses, layoffs, and even closures as a result of the construction disruptions.
The executive director of Thrive Networks presented a plea for emergency financial relief, citing that many businesses have been adversely affected by the city's mismanagement of the construction project. They reported that despite previous meetings with city officials, including Mayor Yemi, there has been a lack of follow-up or support for the businesses struggling to survive. The director emphasized that while road construction is necessary, the specific project has caused undue hardship, warranting immediate financial assistance.
Felipe Velasquez, a local business owner, shared his personal experience, detailing how his revenue projections were drastically impacted by the construction. He reported a significant drop in business, leading to layoffs and substantial debt. Velasquez urged the city to consider allocating $1.5 million in emergency grants to support affected businesses, echoing similar relief efforts implemented in other cities like Denver and Fort Collins.
City officials acknowledged the challenges posed by the construction, which is part of a larger $140 million infrastructure investment in the southeast area. However, they indicated that there is currently no budget for direct financial assistance to businesses affected by the construction. The chief of staff noted that while outreach efforts have been made to support local businesses, the city is limited in its ability to provide immediate financial relief.
Council members expressed concern over the situation, with some advocating for a more proactive approach to support the local economy and prevent further business closures. The meeting concluded with a commitment to continue discussions on potential solutions, emphasizing the importance of small businesses as the backbone of the community.