To: Honorable Mayor and Members of Town Council
Through: David L. Corliss, Town Manager
From: Trish Muller, CPA, Director of Finance
Title
Resolution Approving the Proposed 2027 Fiscal Year Budget for the Castle Rock Downtown Development Authority
Body
________________________________________________________________________________
Executive Summary
In accordance with Colorado Revised Statutes, §31-25-816, the Executive Director of the Castle Rock Downtown Development Authority (CRDDA) has presented the Board of Directors with a proposed Annual Budget for the fiscal year 2027. The proposed CRDDA Budget for 2027 (Attachment B) is hereby submitted to Town Council for review and approval 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), of approximately $250,000. The proposed CRDDA budget reflects this amount; however, the actual match will be based on the final assessed valuation and related mill certification done in December.
Budget Impact
The impact to the Town will be approximately $250,000 for the mill levy match as accommodated for in the 2027 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 proposed annual budget for 2027.”
Alternative Motions
“I move to approve the resolution as introduced by title, with the following conditions: (list conditions).”
“I move to continue this item to the Town Council meeting on _____ date to allow additional time to (list information needed).”
Attachments
Attachment A: Resolution
Attachment B: 2027 CRDDA Budget Message and Proposed Budget