John Scarffe, Nederland. The Nederland Downtown Development Authority Board approved a draft budget during the Board’s regular meeting on Wednesday, September 20, 2017, at the Nederland Community Center. The Board also discussed the schedule of events for activities leading up to a November 7 vote to approve a $2.3 million debt authorization.
Board Chair Katrina Harms told the Board it has two funds: #70 and #80. Fund 70, operation funds including the mill levy money, can be used for any operating expenses. They are estimating there will be $28,673 in operating funds.
A final determination will not be available until November. “We are looking at an $8,000 surplus that we’ll want to save to pay off the election,” Harms wrote for the Board packet. “We may spend more than the $28,673.”
Fund 80 is TIF funds where most of money goes, from property taxes. “We are estimating we will receive $190,000 and we will have a final determination in November.”
Harms said the NDDA can use this money without debt authorization, but it will just be $190,000 per year. Even though this money is in the bank, the NDDA can’t use it.
“We have to borrow money from somebody and pay them back. We have to do the debt authorization election for permission to use the money, and then we have to borrow it and pay it back,” Harms said. If the debt authorization passes, they will do a supplemental budget at that time.
The two previous debt authorizations were for specific projects, Harms said. Now the DDA is asking for a larger sum of money not tied to a specific project. Board Member Brent Tregaskis said that will allow them to raise money for grants that require matching funds.
Nederland Resident Ron Mitchell said the DDA has the ability to get grant funds the town cannot. Only 13 DDAs exist in the state.
Harms said the debt authorization election is costing the DDA $20,000. “Our goal is to do some really good projects over the next five to ten years. We aren’t borrowing all of it.”
The Board approved the draft budget. Harms told Elizabeth Allen, of Coloring Colorado, who coordinates Nederland’s beautification efforts, that she feels good about the $8,000 spent for Town beautification and the work she did on the self-watering pots. The Nederland Downtown Development Authority funded the Town’s entire beautification project this year, including the self-watering kits.
Allen said that this year was very exciting for two reasons. The self-watering pots helped, but they measured the pots before the soil was put in so capillary actions weren’t working at the top. The pots at the Visitor Center worked well.
Allen has come up with a solution that has longer wicks and will have more coverage within the pots. It will cost $250 for replacement wicks for seven pots. Also budgeted, is putting those on foundations for next year.
Cross Cut Pizza was very generous with their time and watering. Budget is bare bones, Allen said. A company from Golden custom grew the flowers this year and delivered them to her house. She is looking forward to working with them again and streamlining the process.
For the debt authorization election process, Harms said they did a mailing on Friday and an email will go out Thursday morning regarding meeting with Town Boards about the election. Tabor notices will go out Monday.
The first mailing was not required by law but the Tabor one is. It is an official notice and has to be done, Harms said. It has to show how much money the NDDA and Town owe, and it has the ballot question in it.
This will all be on the website, Harms said. “We’ve been saving money by doing the mailings ourselves.”
The NDDA Board will want to do its own pro mailing in October, and the Board has to pay for it but can’t use NDDA funds for that.
The next board meeting in October will be a time for the public to ask questions. The next meeting of the NDDA Board will be on Wednesday, October 18, 2017, at 6:30 p.m., at the Nederland Community Center.