Eagle River Station–Approved!

by the Aye’s Have it!

Eagle’s ERS v2.0 Election Results – For Wednesday – May 23, 2012

Eagle Voters overwhelmingly approved Eagle River Station v2.0

Yes – 1247 (55%)

No – 1022 (45%)

Total Votes cast – 2269, which was many more votes cast than the total number of votes cast in Eagle’s Town Board election last month.  The original ERS vote/referendum was held 28 months ago…and it failed.

Apparently the old political adage – “It’s the Economy, Stupid!” holds true in Eagle these days as well – more details to follow.

ERS-Approved-22MAY2012

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10 responses

  1. Like with the Gov health care package- “It’s going to be very, very exciting,” Pelosi, telling the local elected officials assembled that Congress “[has] to pass the bill so you can find out what’s in it, away from the fog of controversy.”

    And like with Gov Health care, we taxpayers in Eagle County and state of Colorado will learn how much this will cost us down the road. Hopefully not this much though–> Mar 26, 2012 –(Reuters) – The estimated net costs of expanding healthcare coverage under President Barack Obama’s landmark restructuring-11-year net cost of $1.252 billion. CBO

  2. Wow, equating an approval of a development that has the potential for a tremendous upside to Hitler massacring millions in Europe. Sour grapes doesn’t begin to describe that.

  3. As mentioned many times before, almost 3000 citizens of Eagle I included) couldn’t vote on this monumental issue) And this includes many business and commercial property owners. Most can agree that, all of us (and all in the county) will all be affected by the outcome. Regardless, the multi million dollar question now is not the approval by the voters of Eagle for vested rights,,but what now? Will they build it? When will they build it and how big will it really be? Will it be totally built out? Will it be successful? And about the jobs “soon” promise (in all their ads)… we were told in the Vail Daily (the day of the vote) by principle of RED, Jeff MacMahon, that it could be 3-5 years away from construction. Is that jobs “soon” nas all their mailers and ad purported?
    More importantly, RED”s long term solvency…t
    his just in from the Kansas City Business Journal just 4 days after the vote (5/26)…http://www.bizjournals.com/kansascity/print-edition/2012/05/25/legends-outlets-kansas-city-heads-for.html?ana=fbk

  4. “The town of Eagle will not issue any bonds and is not legally, ethically or morally responsible to pay off any ERS debt.” Correct – state and county taxpayers will help foot the bill.

    “* The TIF deal means that various property taxing entities such as Eagle County, the town of Eagle and other special districts will continue to receive only the property taxes that they currently see from the ERS land, * classified as agricultural property.
    * Three districts — Western Eagle County Metropolitan Recreation District, Greater Eagle Fire Protection District and Western Eagle County Ambulance District — have been exempted and will receive taxes from the property as commercial land.
    * Eagle County School District will receive extra revenue from the state, as required by law, because schools are funded on a per pupil basis.”
    http://www.eaglevalleyenterprise.com/article/20120215/NEWS/120219987

    And….

    “Tax increment financing: Under this financing deal, the ERS developers will receive a property tax break for approximately 20 years. ”

    TIF is Not “Free Money”

    By Randal O’Toole

    Cato Institute Senior Fellow Randal O’Toole has written extensively on the subject of urban planning, development, and tax increment financing (TIF) districts

    Originally created with good intentions, tax-increment financing (TIF) has become a way for city officials to enhance their power by * taking money from schools and other essential urban services* and giving it to politically connected developers.

    The new developments in the TIF districts consume fire, police, and other services, but since they don’t pay for those services, people in the rest of the city either have to pay higher taxes or accept a lower level of services.

    TIF is not “free money.” Studies have found that, at best, TIF is a zero-sum game, meaning for every winner in the TIF game others lose an equal amount. In other words, TIF does not increase the total amount of development that takes place in a city or region; it merely transfers development from one part of the region to another.

    TIF is based on the idea that public improvements to a neighborhood or district will lead developers to invest in that district. To finance such public improvements, cities are allowed to keep the “increment” or increased property taxes collected from the area. Typically, planners estimate in advance how much new property tax the city can collect and then sell bonds that will be repaid out of those taxes. The revenues from the bonds are used to pay for the improvements.

    TIF was invented in California in 1952….”

    Read on: http://wichitaliberty.org/economics/tax-increment-financing-tif-has-a-cost/

  5. Those 3000 citizens are not residents of the town of Eagle. If they want a vote, they should petition to annex into Eagle. Then they would pay taxes to the Town of Eagle. You can’t have representation without taxation. If they paid taxes to the town Eagle might not need ERS.

  6. Regardless of annexation, the 3000+- people are still going to be affected by ERS. THAT was the point. Also, many of us are business and/or property owners in Eagle and do pay taxes- in fact, we are assessed TRIPLE property taxes. But, because of the fact that we don’t reside in the building… we can’t vote. Talk about convaluted!

    • HUH? “TRIPLE property taxes” Please share your accounting on that one…

      Nobody is going to be effected till after RED breaks ground. Insiders believe RED is at LEAST 18-24 months in the future away from that. Plenty of time for Jan to supercharge her current business.

      The election is over Jan. 55%-45% time to move on Jan. It wasn’t even close…

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