McCready, 29, returns to Colwyn Bay for his second stint, having previously made 81 appearances for the club, scoring 23 goals.
Downes also returns to the club for his second stint
Runcorn Linnets shared: "After the news breaking of Tom McCready's return to Colwyn Bay we would like to take this opportunity to wish Tom all the very best and a huge thank you for his time at the club.
"Everyone at the Linnets is very grateful for the part he has played so far this season.
“Everyone would like to extend huge thanks to Alex Downes for his time at the club and we wish him all the best of luck for the rest of his career.”
Former Marine and Witton Albion defender Short, 26, joins the Welsh outfit on a short-term loan agreement.