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TIDD board approves FY2026 Q1 financial report; developer balances top $25 million
Summary
The Taos Ski Valley Tax Incremental Development District board approved Resolution No. 2026-65 acknowledging the first-quarter FY2026 DFA financial report; a board member reported that amounts due to the developer exceed $25 million and outlined upcoming dedications and project timing.
At its Oct. 20, 2025, meeting held via Zoom, the Board of Directors of the Village of Taos Ski Valley Tax Incremental Development District approved Resolution No. 2026-65, acknowledging the district's first-quarter FY2026 DFA financial report as of Sept. 30, 2025. The motion to approve the resolution passed on a 4-0 vote.
Board Member Rockey reported a quarterly roll-forward spreadsheet included in the meeting packet that focuses on projects that have been dedicated, interest balances, and payments made through Sept. 30, 2025. He said the amounts due to the developer exceed $25 million and that a second schedule in the packet summarized dedicated and undedicated projects and associated costs.
Rockey said the spreadsheet and schedules are intended to clarify project-level balances and payments. He also raised the topic of "TIDD Capacity," saying he hopes to provide more clarity at the next TIDD board meeting. Rockey reported discussions with developer Rick Bellis about dedications they are trying to accomplish this year and identified the Arrival Entry into the Core Village as an important project for both the community and the developer; he said he believes the board should have more clarity by spring 2026 on timing and scope for work at the village entry.
The board also approved the meeting agenda and the minutes of the July 21, 2025 regular meeting by voice vote (motions moved by Board Member Frimm and seconded by Board Member Rockey; both motions passed 4-0).
