Snowmass’ contribution to Droste may fall short of expectations
August 14, 2010
SNOWMASS VILLAGE – Two advisory boards are recommending that the town of Snowmass Village contribute only half the money the municipality has discussed offering for the Droste Property purchase.
The Financial Advisory Board and Part-Time Homeowners Advisory Board, in separate meetings Wednesday, decided that a $1 million contribution from Snowmass Village would suffice for the Droste purchase. The state of Snowmass Village tax collections, coupled with the FAB’s ethos that the town not assume any additional debt at this time, were some of the contributing factors to the decision.
During last week’s Town Council meeting, elected officials discussed a $2 million contribution from the town. That would have required a public vote. But Snowmass Village is already looking at least two other taxing issues on the November ballot and there was discussion that too many questions could result in the failure of all.
Councilman Reed Lewis, who last week backed the $2 million contribution, said he also “supports the whole idea of a balanced budget, that’s a no brainer.” Should his colleagues decide to follow the advisory board recommendations, then Lewis suggested the $1 million shortfall be raised from a source other than the general fund or through the private sector.
“I’d like to look at some other options how to raise another chunk of money to work with the other jurisdictions and funds from (Great Outdoors Colorado).”
Lewis added: “The benefit to Snowmass is worth more than $1 million.”
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The Financial Advisory Board will recommend to the council that it extend the current mill levy, which is .81, on bonds that are due to retire later this year. Pending voter approval, the mill levy would continue for five years with $200,000 annually dedicated to paying down the Droste property debt and the remainder to be used to supplement transportation in the town.
While initially the mill levy was proposed to continue another four years, the FAB bumped that up one additional year to mesh with the town’s five-year budget forecasts.
Rick Griffin was the lone dissenter on the FAB, maintaining that the mill levy extension should sunset after four years.