GALLUP, N.M. (AP) – The Gallup City Council is moving forward with plans to redevelop downtown in hopes of revitalizing the area.
The Gallup Independent reports that that council on Tuesday approved the Metropolitan Redevelopment Area Plan and Arts and Cultural District Plan.
The plans, which are separate but similar in purpose, detail a series of specific projects as well as funding sources for the project.
The redevelopment plan outlines some ways to finance the projects such as low income tax credits, a tax increment financing district and tax deferrals as an incentive for new business.
The council decided to look more in depth into a financing district at a later date.