Downtown Development Authority
Creating Economic Vitality and Development Opportunities for Downtown Eagle
DDA Boundary Map (above)
The Creation of an Eagle Downtown Development Authority (DDA) was passed November 2020
The redevelopment plan is well underway with the help and guidance of Downtown Colorado Inc. The Downtown Development Authority Committee meets every first Wednesday of the month at 5:00 pm in Eagle Town Hall.
Debt Authorization Ballot Initiative November 2, 2022
Last year we were successful in voting to create a Downtown Development Authority (DDA), which gave the Town to ability to direct funds from future property tax valuations to improve our historic downtown. This year there will be another special ballot to approve a Debt Authorization initiative.
By voting YES for Debt Authorization, you will enable the DDA to apply for loans based on the future valuation of downtown properties, making funds available to begin improvements even sooner!
The Vail Daily published this article about what the Debt Authorization is and how it will benefit Downtown Eagle. As the article states, "the money will be borrowed to fund things like new developments, small business grants and other improvements to the downtown area, and that debt will be paid back with the increase in tax revenue that those improvements will generate."
Your vote in support of this ballot initiative is critically important for the revitalization of downtown.
If you own property within the DDA boundary you hopefully already received your ballot request form in the mail. If you did not, and you are a property owner, business owner, or residential or commercial lessee within the DDA boundary you can download the ballot request form by clicking the button below and either mail it or drop it off to Town Clerk Jenny Rakow at Town Hall by September 30
What is DDA?
The Downtown Development Authority (DDA) is a quasi-governmental entities that provide both organization and financing for downtown revitalization efforts, including place enhancements, marketing and promotion, economic development, and public improvements that focus on the city center’s vitality and attractiveness. It will be supported with TIF (Tax Increment Financing) and a board selected by the town council of 7 downtown stakeholders (business and property owners) including one town council person. No property taxes will be raised for this proposed DDA. If you are a property or business owner with in the proposed district boundaries and would like to apply to be on this board please let us know! Email your request here: firstname.lastname@example.org
Why does Downtown Eagle have a DDA?
To financially help with improvements, events, marketing, business startup costs, beautification, maintenance, etc. The DDA can also be a vehicle to help the town facilitate business recovery efforts from COVID by assisting in supporting the businesses we have now and establishing new ones, while maintaining the Town’s character.
How is Eagle's DDA funded?
Tax Increment Financing (TIF) - reallocation of tax revenue, NOT an additional tax, that comes from the increase in valuation of properties. Future TIF projections used as collateral to secure loans for immediate funding. The formation of a DDA will also make it possible to apply for certain grants.
What are the DDA boundaries?
Please see our map
How are residents within the boundaries effected by the formation of a DDA?
The DDA does not affect the residents or property owners in the district. Property taxes were not increased and it does not affect zoning.
Who are the Qualified Electors?
Qualified electors in the DDA includes: landowners, business owners, residents, or lessees located within the DDA boundaries. Landowners or lessees that are entities located within the DDA boundaries may officially designate a representative to vote on their behalf.