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TIDD board approves FY2025 Q1 financial report; developer update shows about $8.3 million owed
Summary
The Village of Taos Ski Valley Tax Incremental Development District board approved Resolution No. 2025-58 acknowledging the FY2025 first-quarter DFA financial report and heard a developer update noting approximately $8.3 million owed to the developer and that some completed work remains undedicated.
The Board of Directors of the Village of Taos Ski Valley Tax Incremental Development District (TIDD) on Oct. 21 approved Resolution No. 2025-58 acknowledging the first-quarter FY2025 DFA financial report as of Sept. 30, 2024, and heard a developer update that reported roughly $8.3 million owed to the developer.
Board Member Frimm moved to approve the resolution; Board Member Turner seconded, and the motion passed unanimously, 5-0. Earlier in the meeting the board also approved the agenda and the minutes of the July 15, 2024 regular meeting by recorded motions that passed 5-0.
During a developer update, Board Member Rockey said the quarterly roll-forward spreadsheet included in the meeting packet shows "approximately $8.3 million owed to the developer" and noted that several items have been completed but not yet dedicated to the district. Rockey said the developer and board staff are working to complete additional dedications soon.
No formal amendments or alternative funding actions were proposed during the meeting. The board recorded unanimous votes on routine procedural items and the resolution; roll call listed Board Member Frimm, Board Member Leach, Board Member Rockey, Board Member Turner and Board Chair Wittman as present.
The board scheduled its next regular meeting for Jan. 27, 2025, at 4:00 p.m. via Zoom. The meeting notice and attendance information are available at www.vtsv.org. The meeting was adjourned following the recorded motions and votes.
