HomeMy WebLinkAboutRESOLUTION 086-23RESOLUTION 86-23
APPROVING AN AMENDMENT TO THE 2023 ANNUAL WORKFORCE HOUSING
AND CHILDCARE FUNDING PLAN FOR LODGING TAX (6E) FUNDS
WHEREAS, the Town and County signed an Intergovernmental Agreement for the
formation and function of the Estes Park Local Marketing District ("District") in August,
2008, and such agreement was amended by the Parties via written agreements dated
September 19, 2017 and January 1, 2019 (collectively the "IGA");
WHEREAS, at the November 8, 2022, general election, the voters of the District
approved an additional 3.5% lodging tax to be used in furtherance of affordable workforce
housing and childcare services, with such additional tax revenue to be administered by
the Town;
WHEREAS, the Town and County amended the IGA effective January 1, 2023, to
incorporate provisions applicable to the additional tax and otherwise update the terms of
the IGA;
WHEREAS, the Town and County thereafter separately approved the 2023 Annual
Workforce Housing and Childcare Funding Plan for Lodging Tax (6E) Funds, as
prescribed in the amended IGA;
WHEREAS, the 2023 Annual Workforce Housing and Childcare Funding Plan for
Lodging Tax (6E) Funds states, "funds may need to be shifted during the year depending
on opportunities that present themselves in either category (e.g. for property acquisition
if something becomes available on the market)";
WHEREAS, opportunities for property acquisition have arisen that necessitate
amendments to the 2023 Funding Plan;
WHEREAS, the specific amendments required are to the two tables on pages 4
and 5, respectively, of the 2023 Funding Plan, with the Proposed Budget Reallocation
replacing the prior -approved estimated budget for each table as follows:
Original Funding Plan 2023- Approved
Workforce Housing Budget
Property Acquisition $1,500,000.00
Cash Buyer Program/Rental Assistance $1,500,000.00
Predevelopment Work $900,000.00
Deed Restriction Purchase Program $500,000.00
Staffing/Capacity Building $350,000.00
Total $4,750,000.00'
Proposed Budget
Reallocation
$3, 000, 000.00
$200,000.00
$900, 000.00
$300,000.00
$350,000.00
$4,750,000.00
Original Funding Plan 2023-
Childcare
Addressing Workforce Challenges
Capital and Facility
Tuition Assistance
Out -of -School
Total
Approved Proposed Budget
Budget Reallocation
$250,000.00 $250,000.00
$200, 000.00
$100,000.00
$75, 000.00
$625,000.00
$100,000.00
$100,000.00
$175,000.00
$625,000.00
AND WHEREAS, the dollar amounts on pages 5-7 of the 2023 Funding Plan must
be amended as well to conform to the above table for Childcare.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF
THE TOWN OF ESTES PARK, COLORADO:
The Board approves the amendments to the 2023 Annual Workforce Housing and
Childcare Funding Plan for Lodging Tax (6E) Funds as described above, subject to
approval ofthe same byLarim»*rCounty inaccordance witha||haepp|kmblepnouodumo.
Upon mutual approval the amendments aheU oontro|, including for the purposes of the
Memorandum of Understanding Between the Town of Estes Park and the Estes Park
Housing Authority Regarding Use of Revenues Generated from Lodging Taxes Levied by
the Estes Park Local Marketing District for Workforce Housing, approved by the Board of
Trustees onJuly 11'2O23.
DATED this L&d**"day of <,r-fr .2O23.
TOWN OF ESTES PARK
APPROVED AS TO FORM:
Town Attorney