Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Woodland Park DDA approves modified TIF deal for TAVA, sets $400,000 cap with 90% reimbursement
Summary
The Woodland Park Downtown Development Authority approved a revised tax-increment financing arrangement with TAVA House Properties LLC, adopting a 90% annual reimbursement rate for tax years linked to the project until a $400,000 cap is reached. The board said the cap limits public exposure while recognizing developer-funded public improvements.
The Woodland Park Downtown Development Authority voted to approve a tax-increment financing (TIF) arrangement for TAVA House Properties LLC on a motion to set a 90% annual reimbursement rate and cap total reimbursement at $400,000.
The decision came after a presentation from the DDA’s attorney and several hours of questions about the size of eligible public improvements, valuation assumptions and whether the proposal fairly balanced public benefit and developer return. The board’s amended motion was made by Director Alborn and seconded; the clerk read the roll call as "Bourne, yes; Good, yes; Gamelke, yes; Jones, yes; Miharis, abstains; Salazar, yes," and the chair announced the motion passed.
Why it matters: The TIF agreement is meant to reimburse TAVA for public improvements tied to the Woodland Station development by returning a portion of the…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
