Mt. CB extends DDA by 20 years

Remaining 50% of tax increment to go to other taxing entities

[  By Kendra Walker  ]

The Mt. Crested Butte town council has agreed to extend the Downtown Development Authority (DDA) by 20 years. During their May 17 meeting, the council approved the second reading of an ordinance that will extend the allocation of property and sales tax increment to the DDA for one term of 20 years, instead of it expiring in 2026. The DDA can only be extended one time. 

The DDA was formed in 1996 to provide guidance and funds for development within the area designated as the downtown area of Mt. Crested Butte. It receives an allocation of the property and sales tax increment above the base that was in existence when the DDA was formed within its boundaries, and uses those funds to assist in planning and financing projects.

The DDA currently receives 100% of the property and sales tax increment that was in existence when it formed. During the term of extension, the DDA will receive 50% of the property tax base increment and 100% of sales tax increment. The remaining 50% of property tax increment will be allocated to other taxing entities including the school district, county, fire department, Mt. Crested Butte, and the Water and San district. 

DDA member Gary Keiser recently pointed out to the council that moving forward the DDA can be a funding source for implementing the town’s Master Plan and assist the town with community housing opportunities and base area infrastructure.

During the meeting, the council also reappointed Jamie Watt and council member Michael Bacani to the seven-member DDA board. Bacani has been on the board since 2018 and Watt has served for 22 years. 

“Thank you both for your continued service,” said mayor Nicholas Kempin.