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Taos Ski Valley TIDD board hears developer report that more than $25 million is due, discusses project timing
Summary
Board Member Chaz Rockey told the Village of Taos Ski Valley TIDD Board that amounts due to the developer exceed $25 million and outlined dedicated and undedicated project costs; the board discussed coordination on the village entry road and asked for a written clarification of the TIDD capacity question.
The Village of Taos Ski Valley Tax Increment Development District Board heard a financial update on Jan. 19, 2026, in which Board Member Chaz Rockey said amounts owed to the developer exceed $25 million.
In a presentation of a quarterly roll-forward spreadsheet included in the meeting packet, Rockey described schedules for dedicated projects and balances with accrued interest through Sept. 30, 2025. “Amounts due to the Developer are over $25 Million,” Rockey said, summarizing the document.
Board Chair Tom Wittman and other board members paused to take a 10-minute recess so Rockey could join the meeting; the recording was paused during the recess. When the meeting resumed, Board Member Turner and Rockey were present.
Wittman asked when the village entry road would be completed; Board Member J. Christopher Stagg responded it is “soon to be announced.” Rockey said coordination between village staff and the developer on entry-road timing is a project both sides can begin working on.
Rockey also discussed a question about the TIDD limit that surfaced earlier in the meeting. He said Board Member Leach and a colleague at the State Board of Finance researched the figure commonly described as a $44 million ‘‘cap’’ and concluded it represents the amount of bonds that can be issued to finance improvements, not a literal cap on developer reimbursements. Rockey said a written document explaining the analysis will be shared with the TIDD board at a future meeting.
The board did not take any formal action on projects or payments at the meeting. The board later moved into an executive session for matters the minutes describe as relating to acquisition or disposal of real property or water rights and attorney-client privileged discussion of threatened or pending litigation; the board reported no actions taken in closed session.
The board announced its next scheduled meeting as April 20 at 4:00 p.m. via Zoom; the transcript lists the year as 2025, which appears to be an internal scheduling error in the record.
