OTHERAPPROVED

Downtown Development Authority Board Minutes March 10 2026

DDA Approves 10-Year Funding Deal With Fraser Valley Arts

Two percent (2%) of net incremental revenues per qualifying fiscal year, cumulative cap $100,000 over 10 yearsTown of FraserFRASER VALLEY ARTSMarch 10, 2026

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Description

The Fraser Downtown Development Authority approved Resolution 2026-03-01 establishing a 10-year funding agreement with Fraser Valley Arts. The agreement provides a discretionary 2% of net incremental tax revenues each qualifying year, with a cumulative cap of $100,000 once DDA net TIF revenues reach $75,000.

Contract Details

Contract Amount

Two percent (2%) of net incremental revenues per qualifying fiscal year, cumulative cap $100,000 over 10 years

Vendor

FRASER VALLEY ARTS

Agency

Town of Fraser, CO

Contract Type

OTHER

Document Date

March 10, 2026

Contract Term

10 years from when DDA reaches $75,000 in net tax increment revenues; annual funding discretionary and subject to appropriation

Renewal Info

Agreement duration is 10 years with a cumulative funding cap of $100,000; annual allocations are discretionary and subject to annual appropriation and do not auto-renew beyond the 10-year term.