TC Resolution 24-08 Approving a Downtown Development Authority FundA
Avon
C O L O R A D O
RESOLUTION NO.24-08
APPROVING A DOWNTOWN DEVELOPMENT AUTHORY FUND
WHEREAS, the Town of Avon, Colorado ("Town") is a home rule municipality and political
subdivision of the State of Colorado ("State") organized and existing under a home rule charter
("Charter") pursuant to Article XX of the Constitution of the State; and
WHEREAS, on August 29, 2023, the Town of Avon voters approved the establishment of the
Avon Downtown Development Authority; and
WHEREAS, the Agreement provides that, upon collection of revenues and payment of
expenditures for the Avon Downtown Development Authority, the Town will record these in a
Special Revenue Fund in order to accurately and efficiently account for the receipt and distribution
of such monies; and
WHEREAS, NOW THEREFORE, THE TOWN COUNCIL, HEREBY RESOLVES:
Section 1 The Avon Downtown Development Authority Fund will be included as part of the
Town of Avon reporting entity for purposes of financial reporting.
ADOPTED FEBRUARY 27, 2024 by the AVON TOWN COUNCIL
By:
Attest:
Miguel Jaure
0` N OFq�
�L
.:S EAL
ueva , T rr;Clerk
r_
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ATTACHMENT B
A
Avo n
AVON DOWNTOWN DEVELOPMENT AUTHORITY
RESOLUTION 23-01
ADOPTING THE 2024 BUDGET
WHEREAS, the Board of Directors of the Avon Downtown Development Authority has
directed the Authority's Executive Director to prepare and submit a proposed budget for its
consideration; and
WHEREAS, the proposed 2024 Budget has been presented to the Board and notices of a public
hearing has been property posted for 3pm on December 4, 2023; and
WHEREAS, whatever increases may have been made in the expenditures, like increases were
added to the revenues or planned to be expended from reserves/fund balances so that the budget
remains in balance, as required by law.
NOW, THEREFORE, BE IT RESOLVED BY THE AVON URBAN RENEWAL
AUTHORITY that the Board of Directors of the Avon Downtown Development Authority
hereby adopt the following 2024 budget:
2024
Budget
Avon Downtown Development Authority
Beginning Fund Balance $ 0
Revenues and Other Sources 100,000
Expenditures and Other Uses 10,000
Ending Fund Balance $ 90,000
ADOPTED DECEMBER 4, 2023 by the AVON DOWNTOWN DEVELOPMENT
AUTHORITY BOARD OF DIRECTORS.
By: Attest:
To Emrick, Chairman Kris Neuswanger, Secretary
Avon Downtown Development Authority
Resolution No. 23-01— Adopting 2024 Budget
December 4, 2023
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ATTACHMENT B
A
Avon.
RESOLUTION 23-32
ADOPTING THE AVON DOWNTOWN DEVELOPMENT
AUTHORITY 2024 BUDGET
WHEREAS, the Avon DDA is considered a separate legal entity from the Town authorized by
Colorado State Statutes 31-25-801 and was formed as the result of a Special Election held August 29,
2023; and
WHEREAS, the Avon DDA is required to adopt a budget each fiscal year (C.R.S. §31-25-816) as
required by Local Government Budget Law of Colorado; and
WHEREAS, Avon's Municipal Code sets forth duties of the DDA and requires Town Council
approval of budgets and plan developments as outlined in TITLE 4 - Avon Downtown Development
Authority; and
WHEREAS, the Board of Directors of the Avon Downtown Development Authority adopted the
2024 Budget at its December 4, 2023, meeting; and
WHEREAS, the notice of public hearing has been properly posted at official posting locations for
December 12, 2023 and the proposed 2024 Downtown Development Authority Budget is presented
to the Avon Town Council for adoption; and
WHEREAS, whatever increases may have been made in the expenditures, like increases were added
to the revenues or planned to be expended from reserves/fund balances so that the budget remains in
balance, as required by law.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN OF AVON:
Section 1. That estimated revenues and expenditures for the Avon Downtown Development
Authority Fund is presented as follows for 2024:
2024
Budizet
Avon Downtown Development Authority
Beginning Fund Balance $ 0
Revenues and Other Sources 100,000
Expenditures and Other Uses 10,000
Ending Fund Balance $ 90,000
ADOPT-ED DECEMBER 12, 2023 BY THE AVON TOWN COUNCIL. X6NOFA�0
By: Attest: // f 1117 ZZ SEAL
Ai y Phillips, ayor
7Miguel Jar ui Casa nueva, wA Clerk
Avon o� own Development Authority Cr!j nr .C?Lty
Resolution No. 23-32 — Adopting 2024 Budget
December 4, 2023
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