[{"_1":2,"_99":-5,"_100":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75,87],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},"mediaId",6591672,"mediaKeyId","3047152-25022c599d99d7bc641962d5a075afa8","parentId",3047152,"title","Carbondale work session reviews options for financing major capital projects; sales tax increases, COPs, bonds and TIFs discussed","audioSeconds",420,"startMs",3990000,"endMs",4410000,"viewUrl","/Search/View?dp=1&key=3047152-25022c599d99d7bc641962d5a075afa8&start=3990&end=4410","thumbnailUrl","https://assets.pipeline.soar.com/3047152-25022c599d99d7bc641962d5a075afa8/thumbnail_3990000.jpg","articleUrl","/articles/6591672/Carbondale/Garfield-County/Colorado/Carbondale-work-session-reviews-options-for-financing-major-capital-projects-sales-tax-increases-COPs-bonds-and-TIFs-discussed","mediaUrl","https://secure.pipeline.soar.com/6591672-c9cfa03c0d68305e9ea0a6290f13519f/orig.mp4?Expires=1771189126&Signature=bYQk8XFZWbS7NAls0rtPhBoWPLK6wau4ZpFJ7i9Kmqt12Drd-7z-5kDSXj9-Ahtij56aYSmZYvgfNhLXmIU-oODvTfWKRjcZkzbWl1q1Yhm3gsfUDWxNtt8gf2Vir7d2z4hpztKnm7yPq~pT6XZzIP7iQ7CmpMI7ovgjfzAs9ekT8FahpoU7Li-9p5N72M5Rv-o3HIj3IQZzp8m2t20M4lU~~YGoJ9UVWEg5OnWAl2CC24N-beqn8WqrjC1gc66R8i9tZJnYSWR9SJDhrtyAAHiTa86YQ64eHgT0kbutYTNlkjHZTPCsBuIelNoH1vB2GNqh9Ug56AjXMKbNib1VOw__&Key-Pair-Id=KUT5TJCACFTXG","author","Carbondale","date","2025-04-16T06:58:11.273Z","article","Town finance staff and municipal advisors presented multiple financing options for Carbondale's larger capital priorities at a work session on April 15, flagging trade-offs between voter‑approved tax measures, borrowing that uses town assets as collateral and using existing fund balance or dedicated revenue to pay debt service.

Finance director Greg (last name not specified in the record) opened the session and said staff wanted trustees to answer three basic questions before committing to any path: how much money is needed, when the funds are required, and how the town will pay debt service. Maddie Brdanovic of Hilltop Securities joined by video and explained commonly used tools: general obligation (GO) bonds (property-tax backed, require voter approval), revenue bonds (backed by sales or other revenues), limited-tax bonds, excise-tax revenue bonds (lodging, marijuana, short-term rentals, food & beverage), and certificates of participation (COPs), which do not require voter approval but use leased assets as collateral.

Key figures and assumptions presented (all drawn from the town's presentation and Hilltop):
- Town 2025 assessed value: about $248,000,000; current mill levy ~2.094 mills. Each additional mill at current assessed value generates roughly $250,000/year.
- Current town sales tax rate: 3.5%, producing roughly $9.5 million in annual collections; each 1% of sales tax is estimated to generate about $2.7 million/year for the town at 2024–25 activity levels.
- Estimated 1% revenues for potential excise taxes: lodging ~ $103,000/year; marijuana ~ $30,000/year; short-term rental ~ $29,000/year; food & beverage ~ $280,000/year (estimated from 2024 collections).
- Debt-capacity analysis: advisors described a stress test suggesting the town could issue roughly $20 million in principal (assumed 20-year term, 5% interest) without an immediate credit downgrade; that level would equate to about $1.6 million/year in debt service under the assumptions used in the presentation.

Project scenarios: staff applied the financing tools to illustrative project totals to show impacts.
- A full Highway 133 package (underpass, three potential roundabouts, three pedestrian crossings) was presented as a high-end scenario at about $26.5 million and would, under the example, require either a significant sales tax increase or property-tax mill increases if financed immediately. The presentation calculated illustrative outcomes (e.g., a $2.125 million annual debt-service example would imply a steep mill-levy increase in a GO bond scenario and a 79-cent sales-tax increase in a revenue-bond scenario for the town). Trustees noted the $26.5 million number was illustrative and that the town could phase projects (for example, one or two roundabouts rather than the whole package).
- A town-center affordable-housing example ($5 million) produced smaller impacts: a $5M bond might create about $400,000/year in debt service under the assumptions and could be a candidate for COPs if the project itself could be used as collateral or produce revenues to mitigate payments.
- Smaller items such as Chalkos Park ($2M) and a $1M downtown-improvements package were shown as more modest financing needs; those could be funded with smaller sales-tax increases, excise taxes or use of existing fund balance.

Tools and trade-offs: presenters emphasized these key trade-offs:
- GO bonds and limited-tax bonds require voter approval but can set mill levies tied to project needs. Given Carbondale's relatively low existing mill levy (~2.094), property-tax increases generate limited revenue per mill (about $250,000 each), making property-tax-based financing less attractive for very large projects.
- Sales-tax revenue bonds can raise substantial annual revenue per percentage point (roughly $2.7 million per 1% under recent collections), but sales-tax increases are regressive and politically sensitive.
- COPs do not require a ballot measure and use town assets as security; they can be attractive for revenue-generating projects (e.g., housing that produces fees or rent) but place town buildings and other assets as collateral.
- Special districts and tools—urban renewal/TIFs, downtown development authorities, general improvement districts and business improvement districts—can concentrate new revenue streams in defined areas but require careful design and intergovernmental coordination.

Public comment and stakeholders: business owner Kerry Shanks (Marble Distilling Company) urged caution about relying solely on lodging excise taxes and urged broad, cooperative approaches that bring commercial property owners into marketing and revenue strategies rather than relying only on a small set of lodging operators. Trustees and staff discussed the political realities and timing for asking voters to approve debt authorization or tax increases, noting competition for ballot space and the need to build public support through a clear package.

Next steps and requests of staff: trustees asked staff to bring the town's capital-improvement plan (CIP) into the discussion and to clarify which capital needs are enterprise-funded (water/wastewater/trash) and which demands would draw on general‑fund or new tax revenue. Trustees also asked for a clearer baseline: what could the town afford to borrow using existing revenues (no tax increase), and what would additional tax increases deliver in annual revenue. Several trustees suggested periodic follow-up work sessions to refine priorities; staff agreed to return with CIP materials and more granular scenarios and noted that timeline considerations would be important if trustees wanted voter questions placed on future ballots.","mediaType","Video","parentTitle","The Town of Carbondale 4-15-25 Work Session","oneSentenceSummary","Town finance staff and municipal advisors presented multiple financing options for Carbondale's larger capital priorities and showed illustrative scenarios for projects ranging from traffic improvements on Highway 133 to a town-center housing project.","taxTitle","Carbondale, Garfield County, Colorado","taxId",61895,"location","headline","","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":79,"_45":80,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6591677,"Historic Preservation Commission seeks incentives, grants and public support to stabilize Thompson House",862,2554000,3416000,"/Search/View?dp=1&key=3047152-25022c599d99d7bc641962d5a075afa8&start=2554&end=3416","https://assets.pipeline.soar.com/3047152-25022c599d99d7bc641962d5a075afa8/thumbnail_2554000.jpg","/articles/6591677/Carbondale/Garfield-County/Colorado/Historic-Preservation-Commission-seeks-incentives-grants-and-public-support-to-stabilize-Thompson-House","https://secure.pipeline.soar.com/6591677-b0793990ecda9d7380a337426c4ac0c1/orig.mp4?Expires=1771189126&Signature=RHVJRiT25qGyKIP4ablR7z1fg9S2HE7sN-5RInaF4GZO4RbXIOiaO~2Qxv7sG6sXKJV9qCDwMPsxMiS1Rv8tZtWojNTkkVg2bDtH8O~raOOk1yp6hPGzY3icAxdZYIqVjmBlmKlVYRFEtUbvz5q0pfe-mcijEZ3WMD3NHJ0j4gbsQTGTlB36QT5ao-gwhYgjNh0h4DpjDqhBjJdTWzgJXFXd-HiG-JQ3A-OE1lhxqq1Maf5Yl2tQJvK~dA6xAO-k9bUpcKD3FoPFHea-VF7jrLw-VQg8HvV5GVfWUp7NyLe6~WElgrXTEzBdyb3MMP5qzP3ldrKkM2Sza~mjcMBxNw__&Key-Pair-Id=KUT5TJCACFTXG","Members of the Carbondale Historic Preservation Commission told the Board of Trustees at a work session on April 15 that they are expanding outreach and design‑review work for Old Town residential properties and pushing to preserve and reopen the Thompson House to public tours.

Commission vice chair Kim McGee and commissioners described steady interest in the commission's work: the commission placed six structure-of-merit plaques this year and produced a postcard-style self-guided walking tour with a QR link to the Clio.com entries. The commission also reported it retained historic-preservation consultant Susanna Reid to prepare design-guideline recommendations for the Old Town Residential (OTR) zone, with community outreach planned this summer.

Why it matters: commissioners said local preservation work helps maintain neighborhood character while also being a community asset for tourism and education. Commissioners emphasized incentives and voluntary guidance rather than mandatory demolition blocks; they asked trustees to consider noncash incentives for owners of historic residences, such as setback relief or density adjustments, along with potential parking offsets or ADU allowances to make preservation more feasible.

Thompson House: commissioners and trustees discussed the Thompson House (built 1885). Commissioners said the town has set aside about $100,000 over the last three years toward rehabilitation but that the total need is far larger. Commissioners reported there was an engineering study and earlier estimates in 2017–18 that put initial work around $750,000; they said construction costs have risen and the amount now is likely significantly higher. The commission said the Second Floor needs structural work and that prior documentation and quotes exist but would require new requests for proposals to update costs and scope. The building official inspected the house and advised that the First Floor may be opened for docent-led small-group tours, but the Second Floor requires major rehabilitation before public access.

Grants and next steps: commissioners said they explored a Scenic Byways grant but that the Thompson House did not qualify because it is not on Highway 133; they are also investigating State Historic Preservation Office (SHPO) grant opportunities. Commissioners said the Susanna Reid contract is funded in part by a grant with a deadline of May 31, 2026 for the design-guideline deliverable; they expect public outreach this summer and a draft recommendation next year that would form the basis of a code text amendment through planning and zoning if the trustees direct it.

Public comment and volunteers: Jim Kehoe, a local contractor who has worked on historic properties, offered to volunteer expertise for further inspections or contractor outreach. Commissioners emphasized coordination with the Carbondale Historical Society, which has volunteer docents and could run tours if structural issues that block first-floor access are resolved; trustees and staff said they will try to help coordinate grant-support and fundraising work.

What was not resolved: the board did not commit additional capital spending beyond existing set-aside funds or adopt any mandatory preservation ordinance. Commissioners said they would return with draft design-guideline language and proposed incentive packages for trustee consideration.

Next steps: commissioners will continue community outreach on the OTR guidelines this summer; staff and trustees will consider capacity for grant writing and potential town support for fundraising and for updated engineering/RFP work on the Thompson House.","The Carbondale Historic Preservation Commission reported on plaques, a walking tour and design-guideline work and urged the town and historical society to help with fundraising and grants to repair the 1885 Thompson House, which commissioners said needs more than the town's $100,000 reserve.",{"_33":88,"_35":36,"_37":38,"_39":89,"_41":90,"_43":91,"_45":92,"_47":93,"_49":94,"_51":95,"_53":96,"_55":56,"_57":58,"_59":97,"_61":62,"_63":64,"_65":98,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6591682,"Carbondale trustees get update on town manager search; KRW reports strong candidate interest",2002,383000,2385000,"/Search/View?dp=1&key=3047152-25022c599d99d7bc641962d5a075afa8&start=383&end=2385","https://assets.pipeline.soar.com/3047152-25022c599d99d7bc641962d5a075afa8/thumbnail_383000.jpg","/articles/6591682/Carbondale/Garfield-County/Colorado/Carbondale-trustees-get-update-on-town-manager-search-KRW-reports-strong-candidate-interest","https://secure.pipeline.soar.com/6591682-b4b6a259b474886ec1d1ee02e8e001d0/orig.mp4?Expires=1771189126&Signature=hSW4Ew4-2-b963d1G8fmDRm~KG90GZBqjzikF~MtSE~tBDdwOucb94zP~f8py2V~XQoMt5q3o9Vh0ZA8hKt6mjWnCcEf1Hba76oTeA8d4kkve-AbcZaHA7UBTQL8sYRT9dO7J60-4uzqa7Gtu6hzRl88-xLsc5Im9JNXF17g1IrTtLfqINHX439JoQ4YobVnjPdtr0YIHbBMOSjMuwNsWvZoqDeZNRapZjXuyK5RuzvdC0TYbtJcu4Vth3-070blBJCX8T2jETOV8CzYqca8i1X91vYzJ1UrW~tkkaQCkR3zIaFDGiRCgBVUHEgBQUqtjAB0o5AnJOiwJUGzRLYOrA__&Key-Pair-Id=KUT5TJCACFTXG","KRW Associates told the Town of Carbondale Board of Trustees on April 15 that the executive search for a new town manager has attracted a strong field of applicants and outlined the next steps in screening and interview timelines.

The town engaged KRW Associates to lead the search. Mark Collins of KRW reported that “we have in the low twenties in terms of your applications,” and that the mix remains roughly half in-state and half out-of-state. Collins said the firm expects a final applicant tally to increase before the April 25 application deadline and will continue outreach through the Colorado City and County Managers Association annual meeting on April 23–26.

Town trustees were given a tentative calendar for the process: KRW expects to return a ranked spreadsheet of applicants and full electronic files around May 2; trustees are asked to identify 8–10 semifinalists (KRW’s recommendation) so the firm can conduct 30-minute recorded virtual interviews; trustees then will pick 3–5 finalists for on-site visits. Collins said the firm plans an on-site finalist process in mid-June that includes a community meet-and-greet and panels for formal interviews.

Why it matters: the board must balance keeping the process confidential while giving trustees time to review recorded interviews and reference checks. Collins emphasized confidentiality and that finalists will be contacted to confirm availability and permission for background and reference checks.

Trustees and staff discussed logistics and meeting dates. The board tentatively scheduled a special meeting on May 6 to review the ranked spreadsheet and an executive session the evening of May 22 to select finalists for the on-site June 12–13 visits. Collins described the timeline for KRW’s reference calls and third-party criminal/social-media checks and said those checks typically require 12–14 days to complete.

What was not decided: trustees did not select semifinalists or finalists at the work session. The board discussed whether to hold review discussions as part of regular meetings or in separate special meetings and agreed members would view recorded interviews individually and come prepared with a ranked list to a collective session.

Next steps: KRW will deliver applicant files and the ranked spreadsheet to the town around May 2. Trustees will provide semifinalist recommendations (individually or in an executive session) during the week of May 6. The board intends to meet in executive session May 22 to finalize finalists for the June on-site process, pending availability checks and completion of reference/background checks by KRW.","KRW Associates told the Board of Trustees the executive search for a new town manager has drawn a strong candidate pool—“low twenties” as of the meeting—and laid out a schedule for screening, virtual interviews and on-site finalist visits in May–June.","actionData","errors"]

Article not found

Carbondale work session reviews options for financing major capital projects; sales tax increases, COPs, bonds and TIFs discussed

Historic Preservation Commission seeks incentives, grants and public support to stabilize Thompson House

Carbondale trustees get update on town manager search; KRW reports strong candidate interest