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Dos Rios board denies PILT exemption request from Confluence Center
Summary
The Dos Rios General Improvement District board voted down an exemption request for the Confluence Center's payment-in-lieu-of-taxes obligation after staff warned of bondholder and disclosure complications; the motion failed 5-1.
The Dos Rios General Improvement District board considered a request Dec. 3 from the Confluence Center of Colorado for an exemption from its payment-in-lieu-of-taxes (PILT) obligation and ultimately voted the request down 5-1.
Rusty Lloyd, president of the Confluence Center board, told directors the nonprofit sought relief because an increased mill levy in a default scenario could be "crushing" to small nonprofits and would divert scarce resources away from programming. "We are here ... asking for an exemption," Lloyd said, noting concern about a possible jump to a 50-mill rate if the district were to default.
John Gormley, chairman of the…
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