To: Honorable Mayor and Members of Town Council
From: Trish Muller, Director of Finance
Title
Resolution: Approving the Castle Rock Downtown Development Authority Proposed Annual Budget for 2016
Body
________________________________________________________________________________
Executive Summary
In accordance with state statutes and more specifically Section 816 of Title 31, Article 25; the CRDDA Board of Directors has been presented with a proposed Annual Budget for the fiscal year 2016 and submitted to Town staff for administrative review in accordance with the policies of the Town of Castle Rock.
Discussion
Town Council has approved a matching contribution to the revenues collected by imposition of the CRDDA mill levy (3 mills) which will be approximately $140,760, which has been reflected in the proposed CRDDA budget.
Budget Impact
The impact to the Town will be approximately $140,760 for the mill levy match as accommodated for in the 2016 Town of Castle Rock budget.
Staff Recommendation
Staff Recommends that Town Council approve Resolution as written.
Proposed Motion
“I move to approve a Resolution approving the Castle Rock Downtown Development Authority Annual Budget for 2016.”
Attachments
Attachment A: Resolution
Exhibit 1: DDA Budget