Colfax construction grants: what the city says its BIO Fund has done, and what's left

The fund for small businesses hurt by city construction has about $159,000 left this year. Up to $2 million is in the 2027 budget. Committee hears an update Tuesday along with 17 business district budgets.

By Denver Politics staffUpdated Oct 24, 2026

Small businesses along Colfax Avenue have spent two years next to bus rapid transit construction. On Tuesday, Oct. 27, city staff will brief the Council's Finance and Business Committee on the program meant to help them, the Business Impact Opportunity (BIO) Fund, Council record 26-1615 (agenda).

This is a live budget question. The Council asked for more help for businesses hurt by city construction, and Mayor Mike Johnston's revised 2027 budget includes up to $2 million for it, the Denver Gazette reported.

What the city will present

The committee slides say:

History: The fund started in 2019 for businesses near the I-70 rebuild, became an emergency COVID grant program in 2020-21, and went back to construction relief in 2023. Across all years it has handled $32.3 million from the General Fund, federal relief money and other sources.
This round: Three rounds in 2025 gave grants to 100 businesses on East and West Colfax. Three rounds so far in 2026 reached 88 businesses. About $159,000 in direct grants is left for a fourth 2026 round.
Results: About 95% of grant recipients are still open, and new openings nearly offset closures along East Colfax, according to the city.
Limits: The slides say the fund is for "stabilization," and that it does not make businesses whole.
2027: Pending budget approval, up to $2 million could go to a "realigned" BIO Fund.

Outside reporting adds context. Denverite counted 10 closures and nine openings along the route in three business districts since October 2024. City grants are up to $15,000 for businesses that show losses of more than 20%, and some owners told CBS Colorado the process felt hard to navigate.

What our records add

Members have pushed on this for months. At the Aug. 19 Transportation and Infrastructure Committee, Council member Darrell Watson said businesses on Colfax would say the help was not enough (video at 1:10:57). At the Sept. 25 budget hearing, Council member Jamie Torres thanked the economic development team for the fund and said businesses were grateful, while adding it would never be enough money and that the city should not cover 100% of losses (video at 30:05).

Business districts set their budgets the same day. The same Oct. 27 committee agenda includes 2027 budgets and work plans for 17 business improvement and general improvement districts, including the Colfax, Colfax Mayfair, Five Points, Federal Boulevard and West Colfax districts (agenda). Those districts, which tax their own commercial property owners, are often the city's partners on construction outreach, the slides say.

A related loan program. In May the Council approved 26-0529, a contract of up to $9 million, running through April 2029, with the Colorado Enterprise Fund for small-business loans, grants and coaching. It passed 11-0, with Council member Shontel Lewis recorded as not voting.

What's next

Tuesday, Oct. 27, 10:30 a.m.: Finance and Business Committee briefing (agenda).
Monday, Oct. 26: Public hearing on the 2027 budget (agenda). The final vote is set for Nov. 9.