DDA-TIF explained | PostIndependent.com

DDA-TIF explained

Dear Editor,

In response to the DDA-TIF issue raised recently by Mr. Beckwith, regarding five specific assets in our community.

A one-cent sales tax, passed by the voters in November 1998, pledged $500,000 a year to the River Trails Commission, $50,000 per year to the Frontier Museum, $35,000 per year to the Arts Center, plus funds dedicated to the retirement of debt to the Community Center. None of these funds are encumbered or affected by the TIF. They remain where the voters wanted them to remain.

The city bus fund was a separate tax voted by the public in November 2000. It is affected by the TIF only within the DDA district, where it loses 50 percent of the revenue generated by the sales tax. The DDA district gains about 17 percent of the total sales tax within the city, with 50 percent of that going to TIF and the DDA.

The DDA-TIF funding affects only the overall sales tax within the DDA district. TIF financing is difficult to understand but more important, well supported in the state of Colorado. We’re happy to provide a copy of the state statute to whomever requests one.

Jean Martensen,

City Council member

Glenwood Springs

Serving the DDA

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