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TIDD developer update: roll-forward spreadsheet, undedicated infrastructure and missing 2017 dedication packet
Summary
Board Member Chaz Rockey reported that some projects remain undedicated and carry developer balances, staff will work to dedicate infrastructure in 2025, and a 2017 dedication packet could not be located and is being re-created.
At the Feb. 18, 2025 meeting of the Taos Ski Valley Tax Incremental Development District Board, Board Member Chaz Rockey delivered a developer update covering project accounting and upcoming work schedules.
Rockey said the quarterly roll-forward spreadsheet included in the meeting packet shows several projects have been dedicated but still carry a balance that remains with the developer. He described a separate schedule in the packet that outlines costs associated with dedicated and undedicated projects and said the Board and developer plan to work toward dedicating the remaining infrastructure during calendar year 2025.
Rockey also updated the Board on a letter from the New Mexico Taxation & Revenue Department (no further detail provided in the minutes), described several new projects planned for 2025, and noted that staff are recreating a 2017 dedication packet after the original document could not be located.
Board Chair Thomas P. Wittman asked Village staff to coordinate more regularly with TSV Inc. on start and completion dates for future TIDD projects and requested that coordination occur before the next TIDD meeting.
Why it matters: Dedication status affects which infrastructure the municipality owns and which costs remain liabilities of the developer; recreating missing dedication documentation is an administrative step necessary to finalize transfers.
Next steps: Staff and the developer will coordinate schedules and documentation; the Board will reconvene on April 28, 2025 at 4:00 p.m. via Zoom.
