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TIDD board hears that developer is owed about $8.2 million; projects delayed by lack of manpower
Summary
Board Member Rockey reported the quarterly roll-forward shows approximately $8.2 million owed to the developer and said some projects have been hard to start "in a fiscally responsible manner because of a lack of manpower."
At the July 15, 2024 meeting of the Village of Taos Ski Valley Tax Increment Development District Board, Board Member Rockey provided a developer update saying the quarterly roll-forward spreadsheet shows "approximately $8.2 million owed to the developer." Rockey told the board that it has been difficult to begin some projects "in a fiscally responsible manner because of a lack of manpower."
The minutes do not identify the developer by name or provide a schedule for when the owed amounts will be paid. No motion or formal directive was recorded in the minutes in response to the update. The board subsequently approved other agenda items and set the next meeting for Oct. 21, 2024.
The transcript records Rockey as absent at roll call earlier in the meeting while also naming him as the mover on several motions; the minutes do not clarify that discrepancy.
