6:30PM Downtown Development Authority Meeting @ City Hall
Jackson Street
They will review the City’s plans to remodel Jackson Street and other parts of east downtown. The City has scheduled an open house for the community on March 25th.
Money
The DDA has had a 10-year tax-sharing agreement with the City that will end in December of this year. The amount they have accued has increased each year: in 2015, DDA’s share was $68,147; in 2023, their share was $494,747.
They plan to ask the City to extend tax-sharing beyond this year, at a lower level–ideally, enough to fund the holiday lights, power washing the sidewalks, maintenance work, and grant requests–about $125K/year.
In the meantime, they’re sitting on a lot of money. Tonight, they will discuss how to spend it. The biggest pots are:
DDA Capital funds – $110,000
The funds could be used for a DDA capital project, or re-allocated if other opportunities arise (or carried over to next year).
Contribution to City Capital Projects – $400,000
Heart of Golden (parks upgrades and the former Coors property). $85,000 of this has been committed to the Jackson Street project and refacing the Welcome Arch, but $315,000 has not been allocated.
Contingency – $400,000
They have earmarked $375K to contribute to the Visitors Center’s planned remodel, but that project may not start this year.
