To: Honorable Mayor and Members of Town Council
From: Trish Muller, CPA, Finance Director
Title
Resolution Approving the Castle Rock Downtown Development Authority (CRDDA) Proposed Annual Budget for 2020
Body
________________________________________________________________________________
Executive Summary
In accordance with state statutes and more specifically Section 816 of Title 31, Article 25, the Executive Director of the CRDDA has presented the Board of Directors with a proposed Annual Budget for the fiscal year 2020. The proposed CRDDA Budget for 2020 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) which will be approximately $177,504 and has been reflected in the proposed CRDDA budget.
Budget Impact
The impact to the Town will be approximately $177,504 for the mill levy match as accommodated for in the 2020 Town of Castle Rock budget.
Staff Recommendation
Staff recommends that Town Council approve the resolution as written.
Proposed Motion
“I move to approve a resolution approving the Castle Rock Downtown Development Authority Annual Budget for 2020.”
Attachments
Attachment A: Resolution
Exhibit 1: DDA Budget Message and Draft