Finance Committee Packet 2026.4.27_____________________________________________________________________________________
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FINANCE COMMITTEE MEETING AGENDA
MONDAY, APRIL 27, 2026
MEETING BEGINS AT 12:00 PM
100 MIKAELA WAY, AVON CO 81620
1.CALL TO ORDER AND ROLL CALL
2.APPROVAL OF JANUARY 26, 2026 MINUTES
3.PUBLIC COMMENT- COMMENTS ARE WELCOME ON ITEMS NOT LISTED ON THE FOLLOWING AGENDA Public
comments are limited to three (3) minutes. The speaker may be given one (1) additional minute,
subject to Finance Committee approval.
4.FINANCIAL RESULTS THROUGH FEBRUARY (CHIEF FINANCIAL OFFICER PAUL REDMOND)
A.MARCH FINANCIAL UPDATE
B.BUDGET AMENDMENTS
5.VILLAGE (AT AVON) PHASE II PROJECTIONS (CHIEF FINANCIAL OFFICER PAUL REDMOND)
6.UPDATES ON DEVELOPMENT PROJECTS (COMMUNITY DEVELOPMENT DIRECTOR MATT PIELSTICKER)
1.LOT 3
2.LOT B
3.HIDDEN VALLEY ESTATES
4.VILLAGE (AT AVON) PHASE I
7.ADJOURNMENT
FINANCE COMMITTEE MEETING
MONDAY, JANUARY 26, 2026
HYBRID MEETING; IN-PERSON AND ON TEAMS
Finance Committee Meeting, January 26th, 2026 1 | 2
1.ROLL CALL
Present in Person: Committee members Lisa Post, Cathy Krajicek, Rick Sudekum, Markian Fedeschuk
and Steve Coyer
Present Virtually: Committee Members John Widerman, Clark Rogers and Gregg Cooper
Absent: Councilors Kevin Hyatt and Lindsay Hardy
Staff: Deputy Town Manager Patty McKenny, Chief Financial Officer Paul Redmond, Finance Manager
Joel McCracken, Financial Analyst Chase Simmons and Town Manager Eric Heil
The meeting was called to order by CFO Paul Redmond at 12:01 p.m.
2.APPROVAL OF NOVEMBER 3RD, 2025 MINUTES
Committee member Rick Sudekum moved to approve the minutes. Committee member Steve Coyer
seconded that motion and it passed 8 to 0 with the 8 voting committee members present. Gregg Cooper
asked to strike the sentence “Gregg Cooper raised the idea of a debt limit, and Eric reviewed the debt
schedule” from the November 3rd minutes. Rick Sudekum moved to strike the sentence.
3.PUBLIC COMMENT
There was no public comment.
4.DOWNTOWN DEVELOPMENT AUTHORITY PLANNING AREA A FINANCIAL PROJECTIONS(CFO PAUL
REDMOND)
Chief Financial Officer Paul Redmond spoke about the tax credits Avon provides to the Village at
Avon to support operations and debt payments. He went on to explain the debt and debt limits the
tax credits support. As of October 2025, all allowable debt has been issued.
Eric spoke about the tax credit agreement made in 1998 with the Village at Avon and potential
timeline for it to be satisfied with different levels of development and revenue generation. The
agreement is a cost to the town right now, but in the future Avon will recognize all Village at Avon
Revenue.
Paul went on to explain the impact of municipal services impact of the Village at Avon and the
impact future development will have on the current estimated $188k deficit between revenue and
expenses. He also noted future capital obligations for multiple parks and roads.
Paul moved on to discuss DDA Tax Increment Finance (TIF) revenue. The 2026 TIF revenue is
projected to be $510k and must support community housing at a level of 50%. He then shared a
chart modeling the projected revenues from planning area A including the TIF funding for the next
five years.
Rick Sudekum asked about the deficit to provide services, and Gregg Cooper asked how the police
expense in particular is calculated. Paul and Eric explained the numbers are high level based off
population and call numbers.
Eric discussed some of the revenue from the new speed cameras could go to support police and
road maintenance.
FINANCE COMMITTEE MEETING
MONDAY, JANUARY 26, 2026
HYBRID MEETING; IN-PERSON AND ON TEAMS
Finance Committee Meeting, January 26th, 2026 2 | 2
As this was a presentation, no motion was made.
5.WORK SESSION: LOT B – THE SUMMIT FINANCIAL PROJECTIONS (CFO PAUL REDMOND)
Paul Redmond discussed a potential 162 unit apartment building. The public amenities could
include a community workshop, coffee shop, path to pedestrian mall and 10 to 20 units of
community housing. Eric Heil expanded on the community workshop stating that CASE and the
DDA boards will be meeting in February to discuss potential uses. The cost of the public amenities
would be approximately $6M while the cost of the community housing would be around $4M.
Revenue to pay for these amenities would be generated by the project.
Paul went on to discuss the forecasted revenues from the project from 2026 – 2048 at $13.1M. The
URA should generate $689k per year until 2033. When the URA expires in 2033, the DDA will then
begin collecting a forecasted $350k per year. Eric talked about next steps including operating costs
of the Confluence Metro District and Town Council review of the design review plan on February
10.
Committee Member Rick Sudekum spoke in support of the project as a critical piece of development
for the Town He asked if a recommendation from the Planning and Zoning Committee to reduce
the number of units will be part of the presentation to Town Council on February 10, and Eric
confirmed the recommendation is included in the presentation.
Committee Member Gregg Cooper expressed support for the building as well as the pedestrian
path. He spoke about making the Community Center a profit center with the ability to host high-
level art events and advocated to bring in a partner who specializes in these events such as Vilar.
Committee Member Markian Fedeschuk asked how population growth and demographics are factors
into plans. He noted Colorado’s population is flat while school enrollment is down. He also expressed
concerns about the economic impact of low snow levels this winter and in the future. Town Manager Eric
Heil attributed lower school enrollment numbers to the lack of affordable housing in our community and
noted the community housing programs could reverse this trend. He also discussed the need for activities
other than skiing because of climate change.
Gregg Cooper noted summer is the answer to potential softer winters and emphasized the need for
a revenue generating community center. Gregg asked about the potential to have a professional
organization to steward the arts and entertainment portion of the development to ensure positive
return on investment. Town Manager Eric Heil responded the space may be too small for bigger
events but the joint DDA and CASE Committee meeting in February will be a good time to discuss
specific activities for the new venue.
Lisa Post spoke about parking concerns. Eric responded the developer and Avon Center are both
FINANCE COMMITTEE MEETING
MONDAY, JANUARY 26, 2026
HYBRID MEETING; IN-PERSON AND ON TEAMS
Finance Committee Meeting, January 26th, 2026 3 | 2
satisfied with the amount of parking, and all town requirements will be met. Rick Sudekum added
the parking concerns have been addressed by the Planning and Zoning Commission as well.
Eric Heil discussed comparable community centers in Basalt, Crested Butte and Silverthorne. He
noted space and budget are limiting factors to replicating the bigger of these venues.
Gregg Cooper asked about the possibility the old firehouse could be used as future event space.
Eric Heil responded that the library plans to expand into the space.
As this was a work session, no motion was made.
6.NEXT COMMITTEE MEETING DATE
Monday, March 30th at 12:00 p.m.
7.ADJOURNMENT
Committee Chair John Widerman moved to adjourn the meeting. Committee member Cathy Krajicek
seconded that motion and the meeting adjourned, the time was 01:07 p.m.
Respectfully Submitted by:
Chase Simmons, Financial Analyst.
These minutes are action minutes and only a summary of the proceedings of the meeting. They are not intended to be
comprehensive or to include each statement, person speaking or to portray with complete accuracy.
970-748-4044 dstockdale@avon.org
TO: Honorable Mayor Tamra N. Underwood and Council Members
FROM: Dean Stockdale, Senior Accountant
RE: Financial Report – January 2026 & February 2026 data
DATE: April 15th, 2026
SUMMARY: This report presents the revenues for sales, accommodations, nicotine and cigarette, and
short-term rental tax for February 2026 and the recreation fees, real estate transfer tax, and use tax for
CH revenues for March 2026.
BACKGROUND: The percentage variance, or comparative change is reflected in the analysis portion of
this report in respect to each individual section for February and March 2026 revenues. Tax revenues are
not budgeted on a monthly basis; however, for purposes of analysis, monthly budget variances are based
on a 3-year average of actual revenues.
GENERAL FUND REVENUE SUMMARY:
Tax Revenue Comparison – 2025 v 2026 : All taxes except the Nicotine Tax and Rec Admissions are
unfavorable for 2026 compared to 2025. Below is a table which reflects the dollar change and percentage
variance. Total revenue for 2026 is reflecting an unfavorable variance to 2025.
2025 v 2026 YTD REVENUE COMPARISON
2025 2026 Dollar Variance Percentage
Variance
Sales Tax $2,444,016.62 $2,315,436.44 ($128,580.18) (5.26%)
Acc. Tax $677,821.86 $566,713.98 ($111,107.88) (16.39%)
Nicotine Tax $55,732.48 $62,767.71 $7,035.23 12.62%
Cigarette Tax $34,554.00 $30,930.00 ($3,624.00) (10.49%)
Rec Admissions $361,883.71 $371,029.60 $9,145.89 2.53%
Rec Program Fees $137,107.03 $124,067.91 ($13,039.12) (9.51%)
TOTAL $3,711,115.70 $3,470,945.64 ($240,170.06) (6.47%)
Page 2 of 11
Adopted Budget 2026 v Actual 2026: All taxes except reflect an unfavorable variance over the 2026
budget. Rec Center Admissions revenue is favorable compared to the 2026 budget. Total revenue for 2026
is reflecting an unfavorable variance to the 2026 budget. Below is a table which reflects the dollar change
and percentage variance.
COMMUNITY HOUSING REVENUE SUMMARY:
2026 REVENUE COMPARISON – BUDGET V ACTUAL
Budget Actual Dollar Variance Percentage
Variance
Sales Tax $2,546,033.38 $2,315,436.44 ($230,596.94) (9.06%)
Acc. Tax $729,858.41 $566,713.98 ($163,144.43) (22.35%)
Nicotine Tax $64,601.88 $62,767.71 ($1,834.17) (2.84%)
Cigarette Tax $37,417.49 $30,930.00 ($6,487.49) (17.34%)
Rec Admissions $343,853.07 $371,029.60 $27,176.53 7.90%
Rec Program Fees $122,127.67 $124,067.91 $1,940.24 1.59%
TOTAL $3,843,891.90 $3,470,945.64 ($372,946.26) (9.70%)
2025 v 2026 YTD REVENUE COMPARISON
2025 2026 Dollar Variance Percentage
Variance
STR Tax for CH $313,994.78 $270,346.80 ($43,647.98) (13.90%)
Use Tax for CH $28,828.00 $28,171.41 ($656.59) (2.28%)
TOTAL $342,822.78 $298,518.21 ($44,304.57) (12.92%)
2026 REVENUE COMPARISON – BUDGET V ACTUAL
Budget 2026 Dollar Variance Percentage
Variance
STR Tax for CH $298,629.75 $270,346.80 ($28,282.95) (13.90%)
Use Tax for CH $125,000.00 $28,171.41 ($96,828.59) (77.46%)
TOTAL $423,629.75 $298,518.21 ($125,111.54) (29.53%)
Page 3 of 11
REVENUE ANALYSIS:
Sales Tax: Revenues – February 2026: February sales tax revenues totaled $1,1714,750. This is a
decrease of $51,131 or 4.18% compared to February 2025 sales tax revenue of $1,222,882.
FEBRUARY 2024 v FEBRUARY 2026 SALES TAX COMPARISON BY INDUSTRY
February 2025 February 2026 Increase/Decrease
Home/Garden $68,555.63 $60,449.25 ($8,106.38)
Grocery/Specialty/Health $241,683.63 $236,896.07 ($4,787.56)
Sporting Goods Retail/Rental $152,681.24 $135,161.50 ($17,519.74)
Miscellaneous Retail $26,802.91 $26,452.01 ($350.90)
Accommodations $331,584,49 $287,766.44 ($43,818.05)
Restaurants/Bars $213,720.93 $227,303.41 $13,582.48
Other $8,794.60 $7,829.65 ($964.95)
Service Related $26,827.65 $20,747.11 ($6,080.54)
Liquor Stores $32,026.81 $27,168.91 ($4,857.90)
E-Commerce Retail $78,076.33 $84,941.41 $6,865.08
Manufacturing/Wholesale $8,626.21 $23,662.72 $15,036.51
Construction Related Services $25,087.44 $25,925.19 $837.75
Digital Media Suppliers/Sellers $7,626.43 $6,834.00 ($792.43)
Commercial/Industrial Equipment $787.94 $612.77 ($175.17)
Special Events $0.00 $0.00 $0.00
TOTAL $1,222,882.24 $1,171,750.44 ($51,131.80)
Sales Tax: February 2026 Budget v Actual Collections: February 2026 sales tax revenues totaled
$1,171,750. This is a decrease of $90,388 over the February 2026 estimate of $1,262,138. This is 7.16%
below the adopted 2026 budget (based on a 3-year average).
FEBRUARY 2026 BUDGET v ACTUAL COLLECTIONS - SALES TAX
2026 Budget 2026 Actual Dollar Variance Percentage Variance
February $1,262,138.54 $1,171,750.44 ($90,388.10) (7.16%)
Page 4 of 11
Accommodation Tax: Revenues –February 2026: Accommodation tax revenues totaled $310,081 for the
month of February. This is a decrease of $35,931 or 10.38% compared to February 2025 accommodation
tax revenues, which totaled $346,012. Accommodation tax collections by industry type for February 2026
compared to February 2025 reported a decrease for Vacation Rentals and Time Share with an increase for
Hotels.
FEBRUARY 2025 v FEBRUARY 2026 ACCOMMODATION TAX COMPARISON BY INDUSTRY
February 2025 February 2026 Increase/(Decrease)
Timeshares $55,182.20 $37,443.82 ($17,738.38)
Hotels $127,654.78 $132,927.81 $5,273.03
Vacation Rentals $163,175.95 $139,710.08 ($23,465.87)
TOTAL $346,012.93 $310,081.71 ($35,931.22)
1,242,766.09 1,283,697.83 1,214,899.64 1,222,882.24 $1,171,750.44
3.29%
-5.36%
0.66%
-4.18%
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
$1,400,000
$1,600,000
2022 2023 2024 2025 2026
2022-2026 February Sales Tax Revenue Trend
Page 5 of 11
February 2026 Budget v Actual Collections: February 2026 accommodation tax revenues totaled
$310,081. This is a decrease of $70,851 compared to the February 2026 estimates of $380,932. This is
18.60% below the adopted 2026 budget (based on a 3-year average).
FEBRUARY 2026 BUDGET v ACTUAL COLLECTIONS - ACCOMMODATIONS TAX
2026 Budget 2026 Actual Dollar Variance Percentage Variance
February $380,932.91 $310,081.71 ($70,851.20) (18.60%)
Short Term Rental Tax for CH: Revenues – February 2026: STR Tax for Community Housing totaled
$142,173 for the month of February. This is a decrease of $17,464 or 10.94% compared to February
2025. The Westin Hotel is classified as a hotel in our MuniRevs system, although they are zoned as
residential.
FEBRUARY 2025 v FEBRUARY 2026 STR TAX FOR CH COMPARISON BY INDUSTRY
February 2025 February 2026 Increase/(Decrease)
Timeshares $27,591.11 $18,721.91 ($8,869.20)
Hotels $52,848.92 $53,803.28 $954.36
Vacation Rentals $79,197.41 $69,647.93 ($9,549.48)
TOTAL $159,637.44 $142,173.12 ($17,464.32)
358,261 387,854 317,978 346,013 310,082
8.26%
-18.02%
8.82%
-10.38%
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
2022 2023 2024 2025 2026
2022-2026 February Accommodation Tax
Revenue Trend
Page 6 of 11
Nicotine & Cigarette Tax: Revenues – February 2026 : Nicotine tax revenues totaled $29,339 and
cigarette tax revenues totaled $14,904 for February 2026. Compared to February 2025 revenues, this is an
increase of $2,633 for nicotine tax revenues, which totaled $26,706 and a decrease of $2,220 for
cigarette tax revenues, which totaled $17,124. Vapes and all other miscellaneous tobacco and nicotine
products are included in the nicotine tax and are subject to the 40% tax rate.
27,344 29,560 29,556 26,706 29,340
8.10%
-0.01%
-9.64%
9.86%
-
5,000
10,000
15,000
20,000
25,000
30,000
35,000
2021 2022 2023 2024 2025
2022-2026 February Nicotine Tax Revenue Trend
18,087 18,216 18,708 17,124 14,904
0.71%2.70%
-8.47%
-12.96%
-
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
2021 2022 2023 2024 2025
2022-2026 February Cigarette Excise Tax
Revenue Trend
Page 7 of 11
February 2026 Adopted Budget v Actual Collections : February 2026 nicotine and cigarette tax
revenues totaled $29,339 and $14,904, respectively. This is a decrease of $655 over the February 2026
budget for nicotine tax, which is $29,994 and a decrease of $3,238 over the February 2026 budget for
cigarette tax estimates, which is $18,142 which is based on a 3-year average.
FEBRUARY 2026 BUDGET v ACTUAL COLLECTIONS – NICOTINE AND CIGARETTE TAX REVENUES
2026 Budget 2026 Actual Dollar Variance Percentage
Variance
Nicotine $29,994.97 $29,339.53 ($655.44) (2.19%)
Cigarettes $18,142.08 $14,904.00 ($3,238.08) (17.85%)
Total ($3,893.52)
Use Tax for Community Housing: Revenues – March 2026 : The use tax for community housing
collected in the month of March 2026 was $15,160.Compared to March 2026 estimate of $33,333, this is
decrease of $18,173.33.
MARCH 2026 BUDGET v ACTUAL COLLECTIONS – USE TAX REVENUES
2026 Budget 2026 Actual Dollar Variance Percentage
Variance
Use Tax for CH $33,333.33 $15,160.00 ($18,173.33) (54.52%)
Page 8 of 11
Real Estate Transfer Tax: Revenues – March 2026 : March 2026 real estate transfer tax totaled
$832,972. Compared to March 2026, which totaled $461,073, this is an increase of $461,073. This is an
increase of $415,620 over the March 2026 budget which was based on a 3-year average.
2026 BUDGET v ACTUAL COLLECTIONS – REAL ESTATE TRANSFER TAX REVENUES
2026 Budget 2026 Actual Dollar Variance Percentage
Variance
Real Estate Transfer Tax $417,351.69 $832,972.01 $415,620.32 99.59%
Real Estate Transfer Tax: Revenues 2026: 2026 real estate transfer tax totals 1,324,016. Compared to
2025, which total $853,269, this is an increase of $470,747. This is an increase of $180,254 compared to
the 2026 budget which was based on a 3-year average.
2026 BUDGET/PRIOR YEAR v ACTUAL COLLECTIONS – REAL ESTATE TRANSFER TAX REVENUES
2026 Budget 2026 Actual Dollar Variance Percentage
Variance
Real Estate Transfer Tax $1,143,761.57 $1,324,016.22 $180,254.65 15.76%
2025 Actual 2026 Actual Dollar Variance Percentage
Variance
Real Estate Transfer Tax $853,269.20 $1,324,016.22 $470,747.02 55.17%
$448,621 $279,653 $917,909 $371,898 $832,972
-37.66%
228.23%
-59.48%
123.98%
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
$900,000
$1,000,000
2022 2023 2024 2025 2026
Real Estate Transfer Tax March Revenue Trends
Page 9 of 11
Recreation Center Fees: Revenues – March 2026 Admissions & Program Fees : Recreation admission
revenues for March 2026 totaled $119,478 is a decrease of $8,540 compared to March 2025 which totaled
$128,018. This is $8,677 below the adopted 2026 budget estimates of $128,156. Recreation program fee
revenues for March 2026 totaled $63,930. This is a decrease of $9,528 compared to 2025, which totaled
$73,459. This is $1,813 above the adopted 2026 budget estimates of $62,116, which is calculated based
on a 3-year average.
97,867 112,067 155,807 128,019 119,478
14.51%
39.03%
-17.83%-6.67%
-
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
180,000
2022 2023 2024 2025 2026
Recreation Admissions March Revenue Trends
$39,181 $53,506 $59,293 $73,459 $63,931
36.56%
10.81%
23.89%
-12.97%
$0
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
$80,000
2022 2023 2024 2025 2026
Recreation Program Fees March Revenue Trends
Page 10 of 11
New and Renewed Business and STR Licenses – 2025 v 2026 : The total number of 2026 business
licenses issued thru March was 202. This was down 39 licenses or 16.2% for the year to date. The total
number of STR licenses issued through March was 92. Compared to 2025 the STR licenses were up 20
licenses or 27.8% for the year.
-
20.00
40.00
60.00
80.00
100.00
120.00
140.00
160.00
180.00
200.00
Business License - Vendor Business License - Fixed
Location
Business License - Home
Occupation
Business License - Special
Event
Business Licenses Issued 1/1 - 3/31
2024 2025 2026
2025 v 2026 – BUSINESS AND STR LICENSES – YEAR TO DATE
2025 2026 License
Variance
Percentage
Variance
Business License - Vendor 179 141 (38)(21.2%)
Business License – Fixed Location 52 49 (3)(5.8%)
Business License – Home Occupation 10 11 1 10.0%
Business License – Special Event 0 1 1 0.0%
TOTAL BUSINESS LICENSES 241 202 (39)(16.2%)
STR License 72 92 20 27.8%
Page 11 of 11
EXPENDITURES: March 2026
General Fund YTD Actuals v 2026 Budget: General Fund expenditures through March 2026 total
$6,243,376 which is 23.19% of the total adopted budget. These expenditures include all wages, health
benefits, events, computer services, operating cost, legal services, and utilities.
Mobility Fund YTD Actuals v 2026 Budget: Mobility Fund expenditures through March 2026 total
$1,457,455 which is 49.79% of the total adopted budget. These expenditures include the cost for wages,
health benefits, consulting services, and utilities.
Fleet Maintenance YTD Actuals v 2026 Budget: Fleet Maintenance expenditures through March 2026
total $534,045 which is 21.82% of the total adopted budget. These expenditures include wages, health
benefits, fuel, vehicle maintenance, utilities, equipment, and operating supplies.
Capital Projects Fund YTD Actuals v 2026 Budget: The Capital Improvement expenditures through
March 2026 total $1,098,227 which is 5.75% of the total adopted budget. These expenditures were
primarily made up from the public works garage, Avon Rd cross walk improvements, and Hwy 6
improvements.
DESTIMETRICS ANALYSIS
Based on Destimetrics reporting properties, February lodging data for Avon/Beaver Creek shows
occupancy of 66.5%, a 3.5% decline year over year, while the average daily room rate decreased 6.0%
year over year to $413, resulting in revenue per available room of $275, down 9.2% year over year.
February tax data shows differing performance by lodging type, with hotel accommodation tax revenues
increasing slightly, while vacation-rental accommodation tax declined 14.4% year over year and short-term
rental tax revenue for community housing declined 12.1%, indicating hotels were better able or more willing
to adjust pricing in response to softer demand.
Thank you,
Dean
0
10
20
30
40
50
60
70
80
90
100
STR License
STR Licenses Issued 1/1 - 3/31
2023 2024 2025
970-748-4088 predmond@avon.org
TO: Honorable Mayor Tamra N. Underwood and Council Members
FROM: Paul Redmond, Chief Finance Officer
RE: 2026 Supplemental Budget Amendment, Resolution 26-04
DATE: April 21, 2026
SUMMARY: Avon’s Home Rule Charter addresses in Chapter XII the supplemental appropriation process.
The Town of Avon’s financial practice is to adopt a supplemental budget amendment to update the
beginning fund balance estimates and generally recognize revisions to the budget that were not identified
at the time the budget was originally adopted. These resolutions amend the General Fund, Community
Housing Fund, Equipment Replacement Fund and Capital Projects Fund.
FINANCIAL CONSIDERATIONS: Below is a summary of the proposed budget revisions and the estimated
impacts to fund balances.
General Fund: The General Fund is estimated to have a deficit from the 2025 Amended Budget because of
a few one-time expenditures. Without the one-time capital expenditures of the public works garage ($2.7
million), employee housing unit in Wildridge ($800K) and 15 Sun Road ($1.46 million), the Town would
have a surplus of $600,143. Sales tax was under budget, but building permits, plan check fees, recreation
center admission fees and investment earning all exceeded expectations. The result is an ending fund
balance in 2025 of $20,503,101, of which $12.3 million is unreserved and undesignated.
A total expenditure increase of $86,490 is proposed to the General Fund to implement pending programs,
respond to changing circumstances and include expenditures which were not identified and included during
the 2026 Budget process last fall. The Town does not budget for large one-time building permit revenues
every year since they are hard to predict. However, in 2026 the Town could potentially see four of these
large building permits issued. The following are proposed revisions to expenditure appropriations in the
General Fund:
1.Brightly Software Implementation: One-time implementation cost of $10,100 for Brightly software
is due after the completion of the implementation. Additionally, $1,716 is requested for a tool which
would allow Brightly to be connected to other Public Works software.
2.Recreation Van Replacement: Carryforward of funds from 2025 for the purchase of a new
Recreation Department van. These $21,130 supplements the accumulated funds in the Equipment
Replacement fund for the purchase.
3.Public Work Plow Truck Replacement: Supplement the purchase of a new Plow Truck for
$27,000. The approved 2026 Equipment Replacement Fund Budget already includes $44,951 for
this purchase.
4.Speed Camera Citation Online Hearings: Increase of $10,000 to hire a Judge to process and
hear the online hearings from the speed camera citations. The funds will be paid for using the
speed camera revenues.
5.Heat Recovery Chiller: Increase of $16,544 for the maintenance of the heat recovery chiller. The
Services include quarterly maintenance and full cleaning and testing of the chiller tubes.
970-748-4088 predmond@avon.org
The revised 2026 fund balance of the General Fund reports a total of $19,303,362. A 22% reserve is
$6,715,097, the 3% TABOR emergency reserve is $915,695, and the remaining amount of $11,708,326 is
undesignated and unreserved and can be used for any legal purpose. This is an increase of $2,111,046
in unreserved fund balances from the original 2026 budget.
Capital Projects Fund: The changes to the Capital Project Fund are as follows:
•Carried-forward of all unspent, active project budget from 2025 to 2026, totaling $8,073,118.
•Increase of $33,470 for a heat recovery usage analysis.
•Increase in expenditure of $36,027 to the Operating Transfer Out to the Community Housing Fund.
The total Transfer Out is based off 10% of the Real Estate Transfer Tax from received in 2025 in
the Capital Projects Fund.
•Moved the Recreation Center Aquatics Refurbishment of $8,405,000 from 2026 due to the
postponement of the project. The General Fund contribution for this project of $2,500,000 was
also moved to 2027.
The revised 2026 ending fund balance of the Capital Projects Fund shows a total of $5,699,098. Of this
amount, $2,429,108 is reserved for URA projects. The remaining amount of $3,269,990 can be used for
capital improvements as defined by the municipal code and up to 10% of real estate transfer tax revenues
can be transferred to the Community Housing Fund. Staff have not revised our projections for real estate
transfer taxes for 2026. We will continue to evaluate this revenue and make any recommended revisions
later in the year.
Community Housing Fund: The revisions to the Community Housing Fund are as follows:
•Increase of $22,893 in Mi Casa Avon deed restriction program to carry over prior year unspent
amounts.
•Increase of $2,046,663 in unused capital projects to carry over prior year unspent amounts. This
includes the Lot 5 Avondale Project, Sun Road Redevelopment, Regional Housing Authority
planning project and other potential housing projects.
•Increase in revenues of $36,027 to the Operating Transfer in from the Capital Projects Fund. The
total Transfer In is based off 10% of the Real Estate Transfer Tax from received in 2025 in the
Capital Projects Fund.
The revised beginning fund balance of the Community Housing Fund shows a total of $3,3655,580 which is
$2,296,186 higher than the original projected beginning fund balance for 2026. Revised projected fund
balance for 2025 is $351,422.
970-748-4088 predmond@avon.org
Equipment Replacement Fund: Revisions to the Equipment Replacement Fund include the following
items:
•Increase of $52,625 for the replacement of a fleet lift. This is a critical piece of shop infrastructure
which impacts both safety and productivity. These funds include $27,205 carryforward from the
2025 budget and reallocating some funds from some obsolete equipment.
The projected ending fund balance for 2026 is $6,764,555.
PROPOSED MOTION: "I move to approve Resolution No. 26-04, A Resolution Amending the 2026 Town
of Avon Budget."
Thank you, Paul
ATTACHMENTS: Attachment A Resolution No. 2026-04
Attachment B General Fund Supplemental Amendment No. 2
Attachment C Capital Projects Fund Supplemental Amendment No. 2
Attachment D Community Housing Fund Amendment No. 2
Attachment E Equipment Replacement Fund Amendment No. 2
Res. No. 26-04
April 21, 2026
Page 1 of 2
TOWN OF AVON, COLORADO
RESOLUTION NO. 26-04
A RESOLUTION TO AMEND THE 2026 TOWN OF AVON BUDGET
WHEREAS, the Town Council of the Town of Avon has previously adopted the
2026 budget; and
WHEREAS, the Town Council has reviewed the revised estimated revenues and
expenditures for 2026; and
WHEREAS, the Town Council finds it necessary to amend the 2026 budget to
more accurately reflect the revenues and expenditures for 2026; and
WHEREAS, the Town Council has caused to be published a notice containing the
date and time of a public hearing at which the adoption of the proposed budget amendment
will be considered and a statement that the proposed budget amendment is available for
public inspection at the office of the Town Clerk located in the Avon Town Hall during
normal business hours, and that any interested elector of the Town of Avon may file any
objection to the proposed budget amendment at any time prior to the final adoption of the
proposed budget amendment; and
WHEREAS, whatever increases may have been made in the expenditure, like
increases were added to the revenues so that the budget remains in balance as required by
law.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF
THE TOWN OF AVON, COLORADO:
Section 1. That estimated revenues and expenditures for the following funds are
revised as follows for 2026:
Original or
Previously
Amended
2026 Budget
Current
Proposed
Amended
2026 Budget
General Fund
Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
$ 19,345,817
29,323,418
31,886,677
$ 20,503,101
29,323,428
30,523,166
Ending Fund Balance $ 16,782,558 $ 19,303,362
Attachment A
Res. No. 26-04
April 21, 2026
Page 2 of 2
Original or
Previously
Amended
2026 Budget
Current
Proposed
Amended
2026 Budget
Capital Projects Fund
Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
Ending Fund Balance
$ 11,352,644
14,018,925
18,991,676
$ 6,379,893
$ 13,364,914
11,518,925
19,184,741
$ 5,699,098
Community Housing Fund
Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
Ending Fund Balance
$ 1,359,394
2,280,412
2,601,041
$ 1,038,765
$ 3,655,580
2,316,439
5,620,597
$ 351,422
Equipment Replacement Fund
Beginning Fund Balance
Revenues and Other Sources
Expenditures and Other Uses
$ 5,363,643
2,161,322
670,843
$ 5,527,034
2,161,322
473,801
Ending Fund Balance $ 6,854,122 $ 6,764,555
Section 2. That the budget, as submitted, amended, and herein above summarized
by fund, hereby is approved and adopted as the budget of the Town of Avon for the year
stated above.
Section 3. That the budget hereby approved and adopted shall be signed by the
Mayor and made part of the public record of the Town.
ADOPTED this 28th April, 2026.
AVON TOWN COUNCIL
By:___________________________ Attest:________________________
Tamra N. Underwood, Mayor Miguel Jauregui Casanueva, Town Clerk
Supplement #2
Unaudited Original Amended Difference
Actual Budget Budget Increase
2025 2026 2026 (Decrease)
REVENUES
Taxes 21,201,653 21,657,039$ 21,657,039$ -$
Licenses and Permits 659,540 477,250 477,250 -
Intergovernmental 1,586,328 1,481,843 1,481,843 -
Charges for Services 2,265,671 2,338,636 2,338,636 -
Fines and Forfeitures 90,000 187,200 187,200 -
Investment Earnings 1,649,595 1,500,000 1,500,000 -
Other Revenue 605,163 958,462 958,462 -
Total Operating Revenues 28,057,950 28,600,430 28,600,430 -
Other Sources
Transfer-In From Capital Projects Fund & Equipment Rep 657,747 722,998 722,998 -
Total Other Sources 657,747 722,998 722,998 -
TOTAL REVENUES 28,715,697$ 29,323,428$ 29,323,428$ -$
EXPENDITURES
General Government, HR and Finance 7,708,545$ 7,837,391$ 7,847,391$ 10,000
Community Development 1,039,494 1,041,680 1,041,680 -
Public Safety 6,651,492 6,763,994 6,763,994 -
Public Works 8,178,650 8,312,848 8,368,208 55,360
Recreation 3,037,373 3,428,262 3,449,392 21,130
Capital Expenditure from Unreserved Fund Balance 2,247,879 - 1,050,000 1,050,000
Total Operating Expenditures 28,863,433 27,384,174 28,520,664 1,136,490
Other Uses
Transfers-Out to Debt Service - 502,502 502,502 -
Transfers-Out to Mobility Fund 1,500,000 1,500,000 1,500,000 -
Transfers-Out to Capital Projects Fund (Public Work Gar 2,690,000 2,500,000 - (2,500,000)
Transfers-Out to Fleet Maintenance Fund - - - -
Total Other Uses 4,190,000 4,502,502 2,002,502 (2,500,000)
TOTAL EXPENDITURES 33,053,433 31,886,676 30,523,166 (1,363,510)
NET SOURCE (USE) OF FUNDS (4,337,736) (2,563,248) (1,199,738) 1,363,510
FUND BALANCES, Beginning of Year 24,840,837 19,345,817 20,503,101 -
FUND BALANCES, End of Year 20,503,101$ 16,782,569$ 19,303,362$ 1,363,510$
FUND BALANCES:
Restricted For:
3% TABOR Emergency Reserve 910,903$ 866,525$ 915,695$ 49,170$
Unassigned:
22% Minimum Reserve Balance 7,271,755 6,354,518 6,715,097 360,578
Undesignated, Unreserved 12,320,443 9,561,525 11,672,571 2,111,046
TOTAL FUND BALANCES 20,503,101$ 16,782,569$ 19,303,362$ 2,520,794$
Fund Summary
MUNICIPAL SERVICES
General Fund #10
Attachment B
Supplement #2
Unaudited Original Amended Difference
Actual Budget Budget Increase
Description 2025 2026 2026 (Decrease)
Taxes:
General Property Tax 2,914,948$ 3,165,318$ 3,165,318$ -$
General Property Tax - Delinquencies 14.96 500 500 -
General Property Tax - Interest 3,909 1,900 1,900 -
General Property Tax - Abatements -298.15 - - -
Specific Ownership Tax 170,637 130,000 130,000 -
Sales Tax 13,441,602 13,505,818 13,505,818 -
Utility Tax 110,198 130,000 130,000 -
Accommodation Tax 2,298,238 2,458,503 2,458,503 -
Penalties and Interest 61,104 50,000 50,000 -
Sales Tax Audit Assessments 50,180 50,000 50,000 -
VAA Retail Sales Fee 1,161,875 1,100,000 1,100,000 -
Cigarette Excise Tax 210,507 245,000 245,000 -
Tobacco Add-on Sales Tax 325,442 360,000 360,000 -
Franchise Fees 453,296 460,000 460,000 -
Total Taxes 21,201,653 21,657,039 21,657,039 -
Licenses and Permits:
Liquor Licenses 6,520 7,500 7,500 -
Business Licenses 271,545 200,000 200,000 -
Contractor's Licenses 25,655 20,000 20,000 -
Tobacco/Cigarette Licenses 3,250 1,750 1,750 -
Booting/Towing Licenses 850 600 600 -
Building Permits 349,675 225,000 225,000 -
Road Cut Permits 250 20,000 20,000 -
Mobile Vendor Cart Permits 1795 2,400 2400 -
Total Licenses and Permits 659,540 477,250 477,250 -
Intergovernmental:
Federal Grants:
Click It or Ticket 0 - 0 -
Ballistic Vests Grant 2,363 2,000 2,000 -
State Grants -
LEAF Grant 0 12,500 12,500 -
High Visibility Grant 30,237 25,000 25,000 -
POST I70 Training Grants 8,667 45,000 45,000 -
DOLA Grants 118,250 - 0 -
Best & Brightest 33,499
Avon's Best and Brightest 0 25,000 25,000 -
Other State Grants 202,074 100,000 100,000 -
Local Government/Other Agency -
Other Local Grants - - 0 -
Revenue Detail
MUNICIPAL SERVICES
General Fund
Supplement #2
Unaudited Original Amended Difference
Actual Budget Budget Increase
Description 2025 2026 2026 (Decrease)
Revenue Detail
MUNICIPAL SERVICES
General Fund
State/County Shared Revenue:-
Conservation Trust 72,636 80,000 80,000 -
Motor Vehicle Registration 24,755 26,000 26,000 -
Highway User's Tax 226,229 236,158 236,158 -
County Sales Tax 627,626 746,785 746,785 -
Road & Bridge Fund 214,525 175,000 175,000 -
State Severance Tax 215 2,400 2,400 -
County Grants 16,763
Retail Delivery Fee 8,489 6,000 6,000 -
Total Intergovernmental 1,586,328 1,481,843 1,481,843 -
Charges for Services:
General Government:
Photocopying Charges - - 0 -
License Hearing Fees - - 0 -
Other Fees and Charges 1,004 2,500 2,500 -
Credit Card and Paper Filing Fees 3,705 2,500 2,500 -
Community Development:
Plan Check Fees 160,444 150,000 150,000 -
Design Review Fees 16,075 170,000 170,000 -
Animal Control Fees 0 - 0 -
Fire Impact Fee Administration Fees 4,828 2,500 2,500 -
Public Safety:
Police Reports 399 1,000 1,000 -
Police Extra Duty 38,270 40,000 40,000 -
Fingerprinting Fees 1305 750 750 -
VIN Inspection Fees 7,487 2,000 2,000 -
False Alarm Fees/Misc Police Dept Fees 0 75 75 -
DUI Reimbursement 13,464 15,000 15,000 -
Avon Recreation Center:
Admission Fees 1,431,571 1,350,000 1,350,000 -
Program Fees 30,304 30,000 30,000 -
Facility Rentals 25,300 22,000 22,000 -
Merchandise Sales 8,419 9,000 9,000 -
Other Recreation Services 9,040 8,800 8,800 -
Fitness Program Revenues 46,489 42,000 42,000 -
Swim Team Revenue 58,080 52,800 52,800 -
Private Lessons 11,510 20,000 20,000 -
Avon Rec CTR Gift Cards 544 500 500 -
Supplement #2
Unaudited Original Amended Difference
Actual Budget Budget Increase
Description 2025 2026 2026 (Decrease)
Revenue Detail
MUNICIPAL SERVICES
General Fund
General Recreation:
Adult Program Revenues 49,590 34,000 34,000 -
Cabin Equipment Rentals 41,886 35,000 35,000 -
Athletic Field Rentals 1290 240 240 -
Cabin Concessions 71 500 500 -
Youth Program Revenues 195,495 200,000 200,000 -
Special Events:
Consession Sales 73,096 94,131 94,131 -
Sponsorships 13,250 10,000 10,000 -
Event Fees 22,755 36,200 36,200 -
Special Event Admission Fees - 500 500 -
Pavillion Rentals - 6,640 6640 -
Total Charges for Services 2,265,671 2,338,636 2,338,636 -
Fines and Forfeitures:
Court Fines - Traffic 55,975 158,000 158,000 -
Court Fines - Criminal 22,525 20,000 20,000 -
Court Fines - Parking 2,285 3,000 3,000 -
Court Costs 5,025 3,000 3,000 -
Jury Fees 0 100 100 -
Bond Forfeitures 0 100 100 -
Police Training Surcharge 4,190 3,000 3,000 -
Total Fines and Forfeitures 90,000 187,200 187,200 -
Interest Earnings 1,645,688 1,500,000 1,500,000
Unrealized Gain (Loss) on Investments 3,907 - -
Investment Earnings:1,649,595 1,500,000 1,500,000 -
Other Revenues:
Recreational Amenity Fees 343,592 345,000 345,000 -
Lease of Town-Owned Property 105,798 414,462 414,462 -
Restituion and Insurance Reimbursemnet 6,557 20,000 20,000 -
Parking Revenue 28,848 12,000 12,000 -
Miscellaneous Reimbursemnets 24,022 30,000 30,000 -
Miscellaneous Nonclassified Revenues 53,511 137,000 137,000 -
Total Other Revenues 605,163 958,462 958,462 -
TOTAL REVENUES 28,057,950$ 28,600,430$ 28,600,430$ -$
Supplement #2
Unaudited Original Amended Difference
Actual Budget Budget Increase
Description 2025 2026 2026 (Decrease)
General Government:
Mayor and Town Council 341,931$ 275,997$ 275,997$ -$
Town Attorney 304,497 272,020 272,020 -
Town Clerk 191,283 200,033 200,033 -
Municipal Court 207,120 200,617 210,617 10,000
Administrative Services 1,035,611 999,090 999,090 -
Community Relations 342,881 369,560 369,560 -
Economic Development 219,340 394,232 394,232 -
Special Events 1,376,445 1,390,007 1,390,007 -
Community Grants 107,750 108,000 108,000 -
Sustainability 237,447 216,162 216,162 -
Subtotal General Government 4,364,304 4,425,718 4,435,718 10,000
Human Resources:
Human Resources 703,816 806,984 806,984 -
Finance and Information Technology:
Finance 1,257,119 1,212,330 1,212,330 -
Information Systems 831,794 860,588 860,588 -
Nondepartmental 551,512 531,771 1,581,771 1,050,000
Subtotal Finance and IT 2,640,425 2,604,689 3,654,689 1,050,000
Total General Government, HR and Finance 7,708,545 7,837,391 8,897,391 1,060,000
Community Development:
Planning and Zoning Commission 15,891 16,400 16,400 -
Planning 675,759 674,531 674,531 -
Building Inspection 347,844 350,749 350,749 -
Total Community Development 1,039,494 1,041,680 1,041,680 -
....
Police Department:
Administration 1,144,258 1,281,833 1,281,833 -
Patrol 4,570,920 4,769,038 4,769,038 -
Investigations 637,916 407,044 407,044 -
Code Enforcement 298,398 306,079 306,079 -
Total Police Department 6,651,492 6,763,994 6,763,994 -
Department Expenditure Summaries
MUNICIPAL SERVICES
General Fund
Supplement #2
Unaudited Original Amended Difference
Actual Budget Budget Increase
Description 2025 2026 2026 (Decrease)
Department Expenditure Summaries
MUNICIPAL SERVICES
General Fund
Public Operations:
Administration 365,040 410,482 422,298 11,816
Engineering 774,994 889,192 889,192 -
Roads and Bridges 3,872,446 3,893,818 3,920,818 27,000
Parks 855,028 885,824 885,824 -
Buildings and Facilities 2,311,142 2,233,532 2,250,076 16,544
Total Public Works Department 8,178,650 8,312,848 8,368,208 55,360
Recreation Department:
Administration 340,944 341,780 362,910 21,130
Adult Programs 69,459 114,111 114,111 -
Aquatics 1,045,262 1,154,516 1,154,516 -
Fitness 313,775 331,110 331,110 -
Guest Services 722,363 810,682 810,682 -
Youth Programs 301,942 352,657 352,657 -
Communtiy Swim Program 243,628 323,405 323,405 -
Total Recreation 3,037,373 3,428,262 3,449,392 21,130
TOTAL OPERATING EXPENDITURES 26,615,554$ 27,384,174$ 28,520,664$ 1,136,490$
Supplement #1
Unaudited Original Amended Difference
Actual Budget Budget Increase
2025 2026 2026 (Decrease)
REVENUES
Taxes 5,360,265$ 5,000,000$ 5,000,000$ -$
Intergovernmental 937,304 4,319,258 4,319,258 -
Investment Earnings 488,203 200,000 200,000 -
Other Revenue 5,580 - - -
Total Operating Revenues 6,791,352 9,519,258 9,519,258 -
Other Sources:
Operating Transfers-In 5,226,000 4,499,667 1,999,667 2,500,000
Total Other Sources 5,226,000 4,499,667 1,999,667 2,500,000
TOTAL REVENUES 12,017,352 14,018,925 11,518,925 2,500,000
EXPENDITURES
Capital Improvements:
Facilities 3,316,400 8,668,500 2,407,323 (6,261,177)
Parks and Open Space 3,966,994 330,000 2,733,178 2,403,178
Streets and Parking 4,259,460 2,136,701 5,347,779 3,211,078
Drainage 3,746 275,000 450,000 175,000
Utility Projects 730,228 - 553,959 553,959
Total Capital Improvements 12,276,828 11,410,201 11,492,239 82,038
Other Uses
Operating Transfers-Out 3,169,289 7,656,475 7,692,502 36,027
Total Other Uses 3,169,289 7,656,475 7,692,502 36,027
TOTAL EXPENDITURES 15,446,117 19,066,676 19,184,741 118,065
NET SOURCE (USE) OF FUNDS (3,428,765) 2,052,312 (7,665,816) 2,381,935
FUND BALANCE, Beginning of Year 16,925,081 4,677,231 13,496,316 8,819,085
FUND BALANCE, End of Year 13,496,316$ 6,729,543$ 5,830,500$ (899,043)$
Fund Balances
Restricted For:
Asphalt Overlay 423,144$ -$ -$ -$
Assigned For:
Tract G/URA Projects 844,108 2,676,040 2,429,108 -
Unassigned:
Unreserved 12,229,064 3,628,863 3,269,990 (358,873)
Total Fund Balances 13,496,316$ 6,729,543$ 5,699,098$ (358,873)$
Fund Summary
MUNICIPAL SERVICES
Capital Projects Fund #41
Attachment C
CAPITAL PROJECTS FUND 5-YEAR PLAN
SUMMARY
Current
Original Revised
Unaudited Budget Budget
2025 2026 2026 2027 2028 2029 2030
REVENUES
Real Estate Transfer Tax:
Base Level 5,360,265$ 5,000,000$ 5,000,000$ 5,150,000$ 5,304,500$ 5,463,635$ 5,627,544$
Lot 3 Development (79 Units)- - - - 1,050,000 1,715,000 -
McGrady Acres (12 Units under construction)- - - 600,000 - - -
Penalties and Interest - - - - - - -
Interest Earnings 356,801 200,000 200,000 200,000 150,000 150,000 150,000
Intergovernmental:
Federal/State/County:
Colorado Water Conservation Board - - - - - - -
Colorado Recycling Center Grant 112,384 - - - - - -
DOLA Grant (East Park Restrooms)213,668 - - - - - -
CDOT Transit Grant 2024 Bus - 2,799,956 2,799,956 - - - -
CDOT Transit Grant 2025/6 Bus Charging Equipment - 384,000 384,000 - - - -
CDOT Transit Grant for Fleet Lifts (Washbay)- -- - - - -
CDOT Transit Grant for Fleet Lifts (Main)- 240,000 240,000 - - - -
CEO Grant - DCFC Plaza Grant (LM - $319,900)- -- 560,000 - - -
GOCO Grant (Eaglebend Playground)- -- - - - -
Eagle County Contribution (Hwy 6 Roundabout)334,691 - - - - - -
CDOT Off-System Bridge Grant - 895,302 895,302 - - - -
CDOT Highway Safety Improvement Grant (Avon Rd - RRFB)276,561 - - - - - -
Eagle County Contribution Lot 5 Recycling Center - - - - - - -
Colorado Parks and Wildlife Grant - - - - - - -
Other Revenues:
Local Bank Financing Recreation Center - - - - 4,200,000 - -
Community Contributions - - - - - - -
Nonclassified 5,580 - - - - - -
Total Operating Revenues 6,659,950 9,519,258 9,519,258 6,510,000 10,704,500 7,328,635 5,777,544
Other Sources:
Transfers In - General Fund
- Parks Garage 2,690,000 - - - - - -
- Recreation Center Acquatics - 2,500,000 - 2,500,000 - - -
Transfers In - Avon URA
-Tract G Projects 1,750,000 1,750,000 1,750,000 1,800,000 1,750,000 1,750,000 1,750,000
- Lot 3 TIF Revenues (est 111 unit condo building)- - - - 41,279 82,588 82,588
Transfers In - Community Enhancement Fund
Projected
CAPITAL PROJECTS FUND 5-YEAR PLAN
SUMMARY
Current
Original Revised
Unaudited Budget Budget
2025 2026 2026 2027 2028 2029 2030
Projected
- Powerline Undergrounding/LED Rec Center 361,000 - - - - - -
Transfers In - Water Fund
- Nottingham-Puder Ditch - - - - 100,000 - -
Transfers In - Equipment Replacement Fund
- Snow Plows 425,000 - - 450,000 - - -
McGrady Acres Park Cash-in-Lieu Payment - 249,667 249,667 - - - -
Total Other Sources 5,226,000 4,499,667 1,999,667 4,750,000 1,891,279 1,832,588 1,832,588
Total Revenues and Sources of Funds 11,885,950$ 14,018,925$ 11,518,925$ 11,260,000$ 12,595,779$ 9,161,223$ 7,610,132$
EXPENDITURES
Capital Improvements:
Facilities 3,316,400 8,668,500 2,407,323 8,815,000 800,000 4,400,000 -
Parks and Open Space 3,966,994 330,000 2,733,178 - 6,750,000 2,750,000 -
Streets and Parking 4,259,460 2,136,701 5,347,779 3,680,000 40,000 340,000 1,553,973
Drainage 3,746 275,000 450,000 - - - 1,425,000
Utility Projects 730,228 - 553,959 - - - -
Total Expenditures 12,276,828 11,410,201 11,492,239 12,495,000 7,590,000 7,490,000 2,978,973
Other Uses:
Transfers Out - General Fund:
- Engineering Department Salary and Benefits 657,747 722,988 722,988 751,908 781,984 813,264 845,794
Transfers Out - Community Housing Fund:
- Mi Casa Program 781,961 500,000 536,027 515,000 530,450 546,364 562,754
Transfers Out - Debt Service Fund:
- 2014B COPS (Street Improvements)320,637 317,304 317,304 318,820 320,033 319,393 -
- 2016 COPS (Public Safety Bldg.)449,325 445,625 445,625 444,125 445,925 442,125 442,925.00
- 2020 Refunding COPs 190,794 190,341 190,341 191,139 191,900 191,624 191,324.00
- Local Bank Financing 960,000 960,000.00
Transfers Out - Mobility Fund:
- Diesel Buses (2)200,000 970,000 970,000 - - - -
- Electric Buses (2)- 3,071,306 3,071,306 - - - -
Electric Bus Charging Equipment 480,000 480,000
Transfers Out - Fleet Maintenance Fund:
- 2020 COPs (Fleet Maintenance Bldg.)193,825 195,611 195,611 196,348 196,048 195,723 195,374
CAPITAL PROJECTS FUND 5-YEAR PLAN
SUMMARY
Current
Original Revised
Unaudited Budget Budget
2025 2026 2026 2027 2028 2029 2030
Projected
- 80/20 Match on Grant for Lifts 240,000 - - - - - -
- 80/20 Match on Grant for Lifts (Main)300,000 300,000
Transfers Out - Equipment Replacement Fund:
- Ballot Box 2,500 2,500
- Drain Snake 10,800 10,800
- Police Dept. Take-home Vehciles and Equipment - - - - - - -
- Dump Truck/Road Widener/Roller - - - - - - -
- External Vest Ballistic Plates 40,000 - - - - - -
- Digital Signs on Railroad Tracks 37,000 - - - - - -
- Heavy Duty Dump Trailer 20,000 - - - - - -
- Diesel Light Towers (2)38,000 - - - - - -
- Armored Rescue Vehicle - - - - - - -
- Snow Plow - 450,000 450,000 450,000 450,000 - -
Total Other Uses 3,169,289 7,656,475 7,692,502 2,867,340 2,916,340 3,468,493 3,198,171
Total Expenditures and Uses of Funds 15,446,117 19,066,676 19,184,741 15,362,340 10,506,340 10,958,493 6,177,144
Net Source (Use) of Funds (3,560,167) (5,047,751) (7,665,816) (4,102,340) 2,089,439 (1,797,270) 1,432,988
Fund Balance, Beginning of Year 16,925,081 17,050,547 13,364,914 5,699,098 1,596,758 3,686,197 1,888,927
Fund Balance, End of Year 13,364,914$ 12,002,796$ 5,699,098$ 1,596,758$ 3,686,197$ 1,888,927$ 3,321,915$
Fund Balances
Restricted For:
Asphalt Overlay 423,144$ 423,144$ -$ -$ -$ -$ -$
Assigned For:
Tract G/URA Projects 844,108 2,429,108 2,429,108 172,272 422,272 272,272 2,022,272
Unassigned:.
Unreserved 12,097,662 9,150,544 3,269,990 1,424,486 3,263,925 1,616,655 1,299,643
Total Fund Balances 13,364,914$ 12,002,796$ 5,699,098$ 1,596,758$ 3,686,197$ 1,888,927$ 3,321,915$
(1)(2)(3)(4)(1+2+4)
Revised
2024 and Original Amended Estimated Difference
Account Prior Actual Budget Budget #1 Project-to-Date Remaining Expenditures Increase
Number Description Actuals 2025 2026 2026 Expenditures Less Current Year Budget Current Proposed (Decrease)Project Status
CAPITAL IMPROVEMENT PROJECTS
Facilities:
Avon Regional Transit Facilities:
14024 ARTF - BAS / HVAC PM -$ -$ -$ 312,000$ 312,000$ -$ 312,000$ 312,000$ -$ In Progress
14026 ARTF - Bus Wash Exit 25,709 - - - 25,709 - 125,000.00 125,000.00 - Completed - 2025
14025 ARTF - HVAC Separation 18,087 282,772 - 300,859 - 170,000.00 170,000.00 - Completed - 2025
14033 Upgrading ARTF meeting room 13,500 13,500 13,500 - 13,500.00 13,500.00 - In Progress
14034 ARTF roof repairs 50,000 50,000 50,000 - 50,000.00 50,000.00 - In Progress
14035 ARTF Bus Wash Replumbing 15,000 15,000 15,000 - 15,000.00 15,000.00 - In Progress
19015 Heat exchangers/pumps for heat recovery system 100,000 100,000 100,000 - 100,000.00 100,000.00 - In Progress
70001 Sun Road Development Match 40,000 40,000 40,000 - 40,000.00 40,000.00 - In Progress
Public Works Garage -
13014 Public Works Garage (Planning, Design, Mgt)361,618 314,085 - - 675,702 (75,702) 600,000.00 600,000.00 In Progress
13015 Public Works Garage (Construction)1,909,500 2,304,028 - - 4,213,528 150,510 4,364,038.00 4,364,038.00 In Progress
Recreation Center
15050 Rec Center Office Area Expansion 61,373 - - 61,373 - 75,000.00 75,000.00 Completed - 2025
15052 Rec Center Surveillance Camera Replacements 22,901 28,190 - 8,909 60,000 0 60,000.00 60,000.00 In Progress
15040 Rec Center Roof Repairs - 10,000 10,000 - 10,000.00 10,000.00 In Progress
15048 Rec Center Painting 20,045 - -20,045 - 20,000.00 20,000.00 - Completed - 2025
15038 Rec Center Building Key Card Access 3,702 25,915 - 33,033 62,650 0 62,650.00 62,650.00 - In Progress
15049 Fitness Area Floor Replacement - 110,000 110,000 - 110,000.00 110,000.00 - In Progress
15051 Rec Center Break Room Remodel 24,000 - -24,000 - 15,000.00 15,000.00 - Completed - 2025
15054 Avon Rec center Hot Water Holding Tank replacement 45,000 45,000 45,000 - 45,000.00 45,000.00 - In Progress
15056 Upgrade Cardio machines for Cable Service 15,000 15,000 15,000 - 15,000.00 15,000.00 - In Progress
15053 Rec Center Aquatics 73,000 8,405,000 - 73,000 8,332,000 8,405,000 8,405,000 - In Progress
Fleet Builidng
14020 Fleet Maintenance - HVAC / AC 10,900 9,500 - - 20,400 - 25,000.00 25,000.00 - Completed - 2025
14027 Fleet Compressor System 33,808 - - - 33,808 - 40,000.00 40,000.00 - Completed - 2025
14031 Wash Bay Lift - - - 320,000.00 320,000.00 - Completed - 2025
14028 Fleet Vehicle Lift 300,000 300,000 300,000.00 300,000.00 In Progress
14010 Fleet Maintenance EPDM Roof Replacement - 460,000 460,000 - 460,000.00 460,000.00 - In Progress
14030 Fleet Heating Replacement 36,400 - 363,600 400,000 - 400,000.00 400,000.00 - In Progress
Facility Office Shop
13016 Bldg 351 - Rehab 13,717 - - 13,717 - 150,000.00 150,000.00 - Completed - 2025
NEW ARTF Office Renovation 136,283 136,283 136,283.00 136,283.00 In Progress
Town Hall
11029 Building Access Control 31,104 - - 31,104 - 82,650.00 82,650.00 - Completed - 2025
11034 Council AV Improvemnts 73,990 69,766 - 143,756 - 125,000.00 125,000.00 - Completed - 2025
11036 Town Hall attic ventilation and fire alarm system installation 30,000 30,000 30,000 - 30,000.00 30,000.00 - In Progress
Public Safety Facility
12008 PD Cooling Tower Chemical loop pump 6,700 - - 6,700 - 12,000.00 12,000.00 - Completed - 2025
12009 EV Charging Station at PD 73,620 16,233 - 89,853 - 100,000.00 100,000.00 - Completed - 2025
31043 Tract A DC Fast Chargers 350,000 350,000 - 350,000.00 350,000.00 - In Progress
21071 Pavilion emergency back up 15,000 15,000 15,000 - 15,000.00 15,000.00 - In Progress
Parks and Open Space
HAN Nottingham Park
11025 H.A. Nottingham Park East Improvements**612,992 2,754,890 1,558,670 4,926,552 0 4,926,552.00 4,926,552.00 - In Progress
21064 Park Water Fountain Replacement*3,188 36,723 58,089 98,000 - 98,000.00 98,000.00 - In Progress
21070 Special Events Meridian Barriers 66,983 31,773 98,756 - 96,983.00 96,983.00 - Completed - 2025
15044 Art Pedestal Repairs and Solar Light Install 13,140 - 13,140 - 75,000.00 75,000.00 - Completed - 2025
15046 HAN Pavilion - Remove Rust and Paint 20,000 20,000 - 20,000.00 20,000.00 - In Progress
21058 HAN Park North Restrooms 59,754 - 59,754 0 59,754.00 59,754.00 - In Progress
O'Neal Spur Park
21057 O'Neal Spur Park Parking Lot Rebuild*100,000 100,000 100,000 - 100,000.00 100,000.00 - In Progress
21027 O'Neal Spur Park Improvements Design 20,000 20,000 20,000 - 20,000.00 20,000.00 - In Progress
Traer Creek Parks
34049 Traer Creek Apt - P1 250,000 250,000 - 250,000.00 250,000.00 - In Progress
Eaglbend Park
21066 Eaglebend Park Improvements*67,239 684,742 138,019 890,000 (0) 890,000.00 890,000.00 - In Progress
CIP Projects Inventory
Project Expenditures
Total Project Budget
Capital Projects Fund #41
2026 Supplemental Amendment #2
(1)(2)(3)(4)(1+2+4)
Revised
2024 and Original Amended Estimated Difference
Account Prior Actual Budget Budget #1 Project-to-Date Remaining Expenditures Increase
Number Description Actuals 2025 2026 2026 Expenditures Less Current Year Budget Current Proposed (Decrease)Project Status
CAPITAL IMPROVEMENT PROJECTS
CIP Projects Inventory
Project Expenditures
Total Project Budget
Capital Projects Fund #41
2026 Supplemental Amendment #2
Irrigation Repairs
31033 Post Blvd Irrigation Repair 83,238 59,481 142,719 - 150,000.00 150,000.00 - Completed - 2025
21065 Irrigation System and Landscape Design*- 80,000 80,000 - 80,000.00 80,000.00 In Progress
21068 H.A.N. Irrigation System Construction - - 1,500,000 1,500,000.00 1,500,000.00 - In Progress
Trails
34048 West Avon Preserve Trail Repair 35,000 35,000 - 35,000.00 35,000.00 - In Progress
34045 Recreation Trail Reconstruction 39,952 39,952 - 40,000.00 40,000.00 - Completed - 2025
Saddleridge Park
21063 Saddle ridge Park Refresh 100,000 100,000 100,000 - 100,000.00 100,000.00 - In Progress
Pedestiran Mall
31044 Pedestrian Mall Extension Design 30,308 306,292 - 263,400 600,000 (0) 600,000.00 600,000.00 - In Progress
Misc
15055 Relocate Nottingham Historic Shed 50,000 50,000 50,000 - 50,000.00 50,000.00 - In Progress
21054 Wildland Fire Mitigation 40,000 40,000 40,000 40,000 120,000 - 120,000.00 120,000.00 - Ongoing
31053 Post Blbd Irrigation and Boulders 20,000 20,000 20,000 - 20,000.00 20,000.00 - In Progress
Streets and Parking
Safety Improvments
32030 Avon Road Crossings (RRFB-2025)190,101 630,840 381,216 1,202,157 0 1,202,157.00 1,202,157.00 - In Progress
32039 US Hwy 6 Safety and Mobility Improvements Project*311,492 3,220,479 2,568,029 6,100,000 (0) 6,100,000.00 6,100,000.00 - In Progress
34042 Benchmark Rd Crosswalks (2)35,900 - 35,900 - 35,900.00 35,900.00 - Completed - 2025
32046 WBCB River Bridge Deck Repair & Railing Upgrade*53,849 28,603 522,000 1,036,677 1,119,129 (1) 1,119,128.00 1,119,128.00 - In Progress
32045 Old Trail Road Asphalt Overlay*789,701 - - - 789,701.00 789,701.00 - Completed - 2025
31034 I-70 Off-ramp Streetlight Repair 50,000 50,000 - 50,000.00 50,000.00 - In Progress
12010 Mobile VMS Sign for Code Enforcement 14,312 - 14,312 - 20,000.00 20,000.00 - Completed - 2025
14032 East Beaver Creek Blvd Childcare Bus Stop 33,174 116,826 150,000 - 150,000.00 150,000.00 - In Progress
Asphalt Overlay
31045 Post Blvd. Asphalt Overlay 11,760 111,151 - 250,000 372,911 2,377,089 2,750,000.00 2,750,000.00 - In Progress
31052 Lake Street / Riverfront Asphalt Overlay 75,000 75,000 75,000 850,000 925,000.00 925,000.00 - In Progress
32044 Swift Gulch Road - East Asphalt overlay 624,038 30,677 654,715 18,759 673,474.00 673,474.00 - In Progress
15025 Metcalf Cabin Relocation 20,000 20,000 - 20,000.00 20,000.00 - In Progress
Roundabouts
32050 RAB1 & 2 Avon Rd Concrete and Landscaping Redesign 300,000 300,000 300,000 30,000 330,000 330,000 - In Progress
Retaining walls
32035 Metcalf Road - Retaining Wall Stabilization*6,494 73,507 80,001 (1) 80,000 80,000 - In Progress
32049 RAB5 Post Blvd Bridge Wall Repair 13,476 86,524 100,000 (0) 100,000 100,000 - In Progress
31035 Town Wide Retaining Wall Structures Analysis 19,406 200,000 100,000 119,406 160,594 280,000 280,000 - In Progress
Guardrails
33220 Annual Guard Rail Repiars 40,000 80,000 80,000 - 80,000 80,000 - Completed
33222 Seal coats all Town parking lots 110,000 110,000 110,000 - 110,000 110,000 - In Progress
31032 Village at Avon Railing (white)35,000 35,000 35,000 - 35,000 35,000 - In Progress
14036 Brick work at Avon Station 65,000 65,000 65,000 - 65,000 65,000 - In Progress
- In Progress
(1)(2)(3)(4)(1+2+4)
Revised
2024 and Original Amended Estimated Difference
Account Prior Actual Budget Budget #1 Project-to-Date Remaining Expenditures Increase
Number Description Actuals 2025 2026 2026 Expenditures Less Current Year Budget Current Proposed (Decrease)Project Status
CAPITAL IMPROVEMENT PROJECTS
CIP Projects Inventory
Project Expenditures
Total Project Budget
Capital Projects Fund #41
2026 Supplemental Amendment #2
Drainage
61015 Nottingham Rd Basin 4 Erosion Control 387,350 3,746 391,095 - 400,000 400,000 Completed - 2025
61017 Nottingham Reservoir Repairs - 200,000 300,000 300,000 - 300,000 300,000 - In Progress
61016 Puder Ditch Headgate Repair (Design & Const)75,000 150,000 150,000 1,425,000 1,575,000 1,575,000 - In Progress
Utilities
19011 Recycling Center Upgrade*278,268 142,114 - - 420,382 - 437,215 437,215 - Completed - 2025
NEW Heat Recovery Analysis - - - 33,470 33,470 - 33,470 33,470 In Progress
91053 Ballistic Vests 34,279 - 34,279 - 40,000 40,000 Completed - 2025
21055 Power Line Undergrounding* (part East Park)10,144 504,969 - - 515,113 - 481,972 481,972 - Completed - 2025
81023 IT Upgrades Recreation and Fleet 40,275 19,725 60,000 - 60,000 60,000 - Complete
61018 Upgrade Nottingham Puder Ditch Pump Station 5,763 294,238 300,001 (1) 300,000 300,000 - In Progress
81021 Nottingham Park Wi-Fi Access**19,119 2,828 - 128,053 150,000 - 150,000 150,000 - In Progress
81011 Broadband (Connection to Thor and Avon PD)**46,528 - 78,473 125,001 (1) 125,000 125,000 - In Progress
Total Capital Improvement Projects 5,430,185$ 12,162,306$ 11,470,201$ 11,492,241$ 29,084,732$ 14,768,246$ 45,202,427$ 45,202,427$ -$
Supplement #1
Unaudited Original Amended Difference
Actual Budget Budget Increase
2025 2026 2026 (Decrease)
REVENUES
Taxes:
Short-term Rental Tax 1,041,531$ 1,013,112$ 1,013,112$ -$
Use Tax on Construction Materials 414,706 400,000 400,000 -
Intergovernmental:
State Grants 143,668 - - -
Other Local Grants -220,000 220,000
Charges for Services:
Rental Revenues - Employees 91,500 138,300 138,300 -
Other Revenue:
Bond Issuance Fees 15,788 9,000 9,000 -
Total Operating Revenues 1,707,193 1,780,412 1,780,412 -
Other Sources
Operating Transfers-In 781,961 500,000 536,027 36,027
Total Other Sources 781,961 500,000 536,027 36,027
TOTAL REVENUES 2,489,154 2,280,412 2,316,439 36,027
EXPENDITURES
General Government:
Community Housing Capital Projects:
Planning and Consulting - - - -
Facilities 354,396 -2,996,663 2,996,663
Mi Casa Deed Restriction Program 1,662,435 1,750,000 1,772,893 22,893
MEHOP 250,000 625,000 625,000 -
Grant Consulting -24,000 24,000
R&M Rental Town Owned Units 35,769 20,000 20,000 -
Personnel Expenses 131,461 145,291 145,291 -
Other Professional Services -4,000 4,000 -
Professional Development 1,943 2,750 2,750 -
Community Housing Operating Expenditures 12,709 30,000 30,000 -
TOTAL EXPENDITURES 2,448,714 2,601,041 5,620,597 3,019,556
NET SOURCE (USE) OF FUNDS 40,441 (320,629) (3,304,158) (2,983,529)
FUND BALANCES, Beginning of Year 3,615,139 1,359,394 3,655,580 2,296,186
FUND BALANCES, End of Year 3,655,580$ 1,038,765$ 351,422$ (687,343)$
Fund Summary
Community Housing Fund #25
Supplemental Amendment #2
Attachment D
Total 2024 and
Project Prior Yr.Unaudited
Project #Community Housing Projects Budget Actuals 2025
Planning and Consulting:
10001 Swift Gulch 359,056$ 358,982$ -$
10002 East Parcels 160,000 30,034 -
10003 General Housing Inventory 50,000 42,470 -
10004 Lot 5 Employee Housing - Design 1,694,944 257,894 31,835
10005 Eagle County Regional Housing Action Plan 224,000 152,205 58,694
10006 Potential Housing Projects (wildwood annex/slopeside)200,000 6,749 -
10007 Slopeside 50,000 - 116,300
10010 State Land Board Housing Developmnet 30,000 - -
10008 Multi Jurisdictional Housing Authory 200,000 - 59,423
10009 Sun Road Redevelopmnet 220,000 - 42,347
NEW East Avon Preserve 75,000 - -
NEW Wildridge Annex 75,000 - -
Facilities:
NEW Town Owned Community Housing - - -
Total Community Housing Projects 3,338,000$ 848,334$ 308,599$
Project Carryforwards
East Parcels 129,966
Lot 5 Employee Housing - Design 1,405,215
Potential Housing Projects (wildwood annex/slopeside)193,251
Multi Jurisdictional Housing Authory 140,578
Sun Road Redevelopmnet 177,653
Total Carryforward for Projects 2,046,663
Current Final Estimated
Original Revised Revised Project Cost Proposed
Budget Budget Budget To-Date Budget Amend
2026 2026 2026 2026 2026 2027 2028
-$ -$ -$ 358,982$ -$ -$ -$
- - - 30,034 129,966 - -
- - - 42,470 - - -
- - - 289,729 1,405,215 - -
- - - 210,899 - - -
- - - 6,749 193,251 - -
- - - 116,300 - - -
- - - - - - -
- - - 59,423 140,578 -
- - - 42,347 177,653 -
- -
- -
- - - - - - -
-$ -$ -$ 1,156,933$ 2,046,662$ -$ -$
Projec
Supplement #1
Unaudited Original Amended Difference
Actual Budget Budget Increase
2025 2026 2026 (Decrease)
REVENUES
Charges for Services:
Equipment Replacement Charges 1,448,022$ 1,448,022$ 1,448,022$ -$
Interest Earnings 155,581 120,000 120,000 -
Other Revenue:
Insurance Claim Reimbursements - - - -
Total Operating Revenues 1,603,603 1,568,022 1,568,022 -
Other Sources
Transfers-In from Capital Projects Fund 135,000 473,300 473,300 -
Sales of Fixed Assets 65,869 120,000 120,000 -
Total Other Sources 200,869 593,300 593,300 -
TOTAL REVENUES 1,804,472 2,161,322 2,161,322 -
EXPENDITURES
Capital Outlay:
Fleet and Heavy Equipment 1,105,378 222,269 222,269 -
Recreation Center Equipment 50,352 46,538 46,538 -
Computer and Office Equipment 81,158 47,754 47,754 -
Machinery and Equipment 92,962 104,615 157,240 52,625
Heat Recovery - - - -
Total Operating Expenditures 1,329,850 421,176 473,801 52,625
Other Uses:
Transfer-Out to Capital Projects Fund 425,000 450,000 450,000 -
TOTAL EXPENDITURES 1,754,850 871,176 923,801 52,625
NET SOURCE (USE) OF FUNDS 49,622 1,290,146 1,237,521 (52,625)
FUND BALANCES, Beginning of Year 5,477,412 4,638,268 5,527,034 888,766
FUND BALANCES, End of Year 5,527,034$ 5,928,414$ 6,764,555$ 836,141$
Fund Summary
MUNICIPAL SERVICES
Equipment Replacement Internal Service Fund #63
Attachment E
TOWN OF AVON
DETAILED BUDGET REQUESTS
2026 Approved Budget
Department:N/A
Program:Machinery and Equipment #814
2026
Account Approved
Number Account Name Justification Budget
EQUIPMENT REPLACEMENT:
Machinery and Equipment
Variable Message Signs 10,084
Variable Message Signs 10,084
Variable Message Signs 10,084
SandPro Tiller 22,926
ProGator 2030A 42,379
Power Steering Machine 2,369
Brake Service Machine 4,664
Oil Filter Crusher 2,025
104,615$
-$
66499 Other Machinery and Equipment 104,615
66000 Total Capital Outlay 104,615$
TOWN OF AVON
DETAILED BUDGET REQUESTS
2026 Proposed Amended
Budget
Department:N/A
Program:Machinery and Equipment #814
2026
Account Proposed
Number Account Name Justification Budget
EQUIPMENT REPLACEMENT:
Machinery and Equipment
Variable Message Signs 10,084.00
Variable Message Signs 10,084.00
Variable Message Signs 10,084.00
SandPro Tiller 22,926.00
ProGator 2030A 42,379.00
Power Steering Machine 2,369.00
Brake Service Machine 4,664.00
Oil Filter Crusher 2,025.00
AMENDED
Fleet Lift 52,625.00
157,240$
-$
66499 Other Machinery and Equipment 157,240
66000 Total Capital Outlay 157,240$
970.748.4088 predmond@avon.org
TO: Finance Committee Members
FROM: Paul Redmond, Chief Financial Officer
RE: Planning Area A Phase II Financial Projections
DATE: April 27th, 2026
SUMMARY: This report documents the Phase II buildout public-revenue model using 2026 assessment
rates. The model includes (1) property-tax-driven Tax Increment Financing (TIF) revenue to the Avon
Downtown Development Authority (DDA) and (2) one-time/transactional fees and taxes allocated to the
Village at Avon and the Town of Avon. Deed-restricted condominium units are modeled as fully exempt
from DDA TIF property tax (shown as $0 DDA TIF for that use type).
• Total public revenues (modeled): $21.28 million
• Annual DDA TIF: $711,755 (commercial) and $464,647 (free-market residential); deed-restricted
units modeled as exempt
• Village at Avon share: 86% of total modeled public revenues
• Primary revenue driver: retail (71% of total)
• One-time revenues (Village at Avon): $12.4M use tax and $3.4M Real Estate Transfer Tax (RETT)
TAX INCREMENT FINANCING: The Village at Avon is evaluating Phase II of Planning Area A. This phase
would include approximately 100,000 square feet of commercial space, including higher-end anchor stores,
as well as 100 free-market residential units and 100 deed-restricted units. Upon completion, the annual TIF
generated for the Avon Downtown Development Authority would be $711,755 from the commercial space
and $464,647 from the free-market units. The deed-restricted units would be fully exempt from tax
increment financing.
VILLAGE AT AVON TRANSACTIONAL FEES/TAXES: The Village at Avon retail sales fee is 4% and is
applied to all retail transactions. Staff anticipate this fee will generate approximately $2 million per year,
based on higher-end stores generating $500 in sales per square foot per year. These funds would be
collected and retained by the Village at Avon.
Staff also evaluated additional retail sales fee revenue generated by the 100 free-market units. Based on a
previously issued Fiscal and Economic Impact Analysis for the Village (at Avon) by the Concord Group the
average household is anticipated to spend $26,000 annually on the local economy. Staff anticipate 50% of
this household expenses will occur in the Village at Avon, with the other half in the Town. This would
generate an additional $104,000 in sales tax for both the Village and the Town.
While the free-market units may include some short-term rentals, the Town does not expect this to
generate meaningful revenue from the 4% accommodation sales fee.
The Village at Avon would also collect one-time fees such as the 4% use tax on construction materials and
the 2% Real Estate Transfer Tax (RETT). These are expected to generate $3.4 million in one-time use tax
revenue and $3.4 million in RETT revenue.
Page 2 of 2
Staff believe these additional revenues would help accelerate payments toward outstanding debts and
developer advances.
TOWN OF AVON TRANSACTIONAL FEES/TAXES: These anchor stores would also generate additional
revenue for the Town of Avon. The Town’s 4% sales tax is projected to increase by approximately
$200,000 per year (10% of the total sales fee), as shoppers would also make purchases at stores located
in the Town.
Building permits and other miscellaneous fees would generate approximately $1.5 million in one-time
revenue. The deed-restricted units would also be exempt from these fees.
CONCLUSION: Under the modeled 2026 assessment rates and exemption treatment, the Phase II buildout
totals $15.67M in public revenues. The Village at Avon is the largest beneficiary (76% of total), and free
market units is the primary revenue driver (57% of total). Future development in the Village would help
accelerate payments toward outstanding debts.
Thank you, Paul
ATTACHMENTS:
Attachment A: Planning Area A Phase II
Jurisdiction Retail Open Market Units Deed Restricted Units
Traer Creek 4,040,000.00$ 5,261,100.00$ 452,000.00$
Avon DDA 711,775.00$ 464,646.72$ -$
Town of Avon 635,003.00$ 1,176,376.58$ 56,305.60$
Non-Village Residential Commercial
Mill Levy Assessment Ratio Assessment Ratio
56.942 6.80%25.00%
Trear Creek Metro District
Avon Downtown Development Authority RETAIL:
Town of Avon
Retail Space Open Market Deed Restricted
Number of Units/SF 100,000.00 100 100
LSF - - -
Value per SF 500.00$ 800.00$ 600.00
Value 50,000,000.00$ 120,000,000.00$ 120,000,000
Assessed Value For Assessor 12,500,000.00$ 8,160,000.00$ 8,160,000$
Annual TIF Property Tax for DDA 711,775.00$ 464,646.72$ -$
Retail Sales Fee ($500/sqft)*2,000,000.00$ 52,000.00$ 52,000.00$ * Project Sales Fees for Residential
Accommodation Sales Fee -$ 9,100.00$ -$ Village at Avon memos says average of $26,000
Use Tax for Community Housing 1,000,000.00$ 2,400,000.00$ -$ to local economy per household.
Add on Retail Sales Fee 15,000.00$ 458.25$ 390.00$
4% TOA Sales Tax on Sales Fee 600.00$ 18.33$ 15.60$
4% TOA Sales Tax 200,000.00$ 52,000.00$ 52,000.00$
Building Permints 265,200.00$ 720,000.00$ -$
Plan, Mech and Plumbing Fees 152,903.00$ 400,000.00$ -$
RETT (Recorded at the time of sale)1,000,000.00$ 2,400,000.00$ -$
Water Tap Fees 40,000.00$ 400,000.00$ 400,000.00$
Water Usage Fee $3.25 per SFE 1,300.00$ 3,900.00$ 3,900.00$
Totals Total
Traer Creek 4,040,000.00$ 5,261,100.00$ 452,000.00$ 9,301,100.00$
Avon DDA 711,775.00$ 464,646.72$ -$ 1,176,421.72$
Town of Avon 635,003.00$ 1,176,376.58$ 56,305.60$ 1,811,379.58$
Phase II
2026 Assessment Rates
CONDO:
Attachement A
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PHASE II
Retail Pads
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Access to Two
Full Interchanges
off I-70
RIVERFRONT EXPRESS GON
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MASTER PLANNED AREA
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PHASE I
Proposed Whole Foods
91 Luxury
Condominiums SEQ I-70 AND AVON RD
AVON, CO
+/- 40 ACRE WHOLE FOODS ANCHORED MIXED-USE PROJECT
VAIL VALLEY
MIXED-USE
JARED ECK
303-800-9177
jared@kensingtondev.com
Av
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PROPOSED
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5-ACRE PHASE I DEVELOPMENT TO BREAK GROUND SPRING 2026
The Site
SEQ I-70 AND AVON RD
AVON, CO
VAIL VALLEY
MIXED-USE
Is a +/- 40-acre master planned develop-
ment in the heart of Avon with direct
access to two (2) full I-70 interchanges.
Phase I of the development to break
ground in Spring 2026. Phase I to
include proposed Whole Foods, +/- 91
luxury condos, and retail pads.
The Vail Valley Mixed-Use is and exciting
opportunity in an extremely high barrier
to entry trade area on one of the last
developable pieces of land in the Vail
Valley.
CONCEPTUAL SITE PLAN - SURFACE LEVEL
VAIL VALLEY
MIXED-USE
JARED ECK
303-800-9177
jared@kensingtondev.com
CONCEPTUAL SITE PLAN - BELOW PODIUM
VAIL VALLEY
MIXED-USE
JARED ECK
303-800-9177
jared@kensingtondev.com
PHASE I
PHASE II
PROPOSED
GENERAL ARRANGEMENT PLAN
VAIL VALLEY
MIXED-USE
SOUTHEAST AERIALVIEW
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THEVILLAGE AT AVON: INTERIM MASTERPLAN SEPTEMBER 2024THVILGEAVAOVON: INTERIM MA ERPLAN TE BER 2024
SOUTHEAST AERIAL VIEW
VAIL VALLEY
MIXED-USE
JARED ECK
303-800-9177
jared@kensingtondev.com
RURAL ROAD PRIMARY URBAN ROAD SECONDARY URBAN ROADBOULEVARD
GREENBELT
MULTIPURPOSE TRAIL
(BIKE/PEDESTRIAN)
STREET PARKING
TREE LINED LANDSCAPE
TREE LINED LANDSCAPE
(NO STREET PARKING OR BIKE LANE)
CONNECTION TO
PLANNING AREA C
BIKE LANE
SUBSTANTIAL TREE LINED LANDSCAPE
TRANSIT ROUTE
SHARED SPACE - PEDESTRIAN PRIORITIZED
ZERO CURB EDGE - CONTINUOUS PAVING
BOLLARD EDGES
TEXTURED / TACTILE WARNING
PEDESTRIAN ONLY
WALKING, RUNNING,
PERSONAL WHEELED CONVEYANCES (SCOOTERS, SKATE, BIKES)
LA K EF RO NT PROMENADE
PLAYGROUND
DOG PARK
LAKE
ROUNDABOUT STUDY:
-R100 (MIN DIMENSION)
-REQUIRES SOME SHAPING ON
P1 CONDO BUILDING
-LESS PEDESTRIAN FRIENDLY (APPEAL)
PUBLIC
PARK
EAST BEAVER CREEK BOULEVARD
CRESCENT HILL ROADE. BEAVER CREEK BLVD
E.
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CHAPEL PLACE CHAPEL PLACE
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TRANSIT
TRANSIT
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RETAIL PROMENADE
MA
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PLAZA
THEVILLAGE AT AVON: INTERIM MASTERPLAN SEPTEMBER 2024MTHETHVILVILAAGEGEAST AAVVAAAOOVVTON: INON: IN EERIMTERIMRMAMAS PLERPLAN SERPLAN AEPTEMTEP NNER 2024BER 2024 I N G
PEDESTRIAL AND VEHICULAR CIRCULATION
VAIL VALLEY
MIXED-USE
GREEN SPACE & RECREATION
VAIL VALLEY
MIXED-USE
ILLUSTRATIVE PLAN
VAIL VALLEY
MIXED-USE
JARED ECK
303-800-9177
jared@kensingtondev.com
665’
= 3-5 minute
walk
SHARED SPACE,
ZERO-EDGE,
CONTINUOUS PAVING,
PEDESTRIAN PRIORITIZED ZONE
* PARKING LEVELS TBC
Scramble-type
intersection
466’ TO GROCER
260’ COMMERCIAL
LAKEFRONT
Scramble-type
intersection
PLAZA
GRAND
STAIRS
PLAZA
PLAZA
WEST
ANCHOR
RETAIL
EAST
ANCHOR
FEATURE
F&B
FEATURE
F&B
MID ANCHOR
ENTER-
TAINMENT
PLANVIEW BENCHMARK - LANCASTER, CA
STREET SECTION
PUBLIC RIGHT OF WAY WITH DIAGONAL TEASER PARKING,
OPEN SPACE AMENITIES, ATTRACTIVE STREETSCAPE, FIXTURES AND WATER FEATURES
THEVILLAGE AT AVON: INTERIM MASTERPLAN SEPTEMBER 2024THETHVILVILAAGE GE A ST AAVVAAAOOVVTON: INON: IN EERIMTERIMRMAMASS PLERPLAN STERPLAN AEPTEMTEP NNER 2024BER 2024 I N G
RETAIL PROMENADE
VAIL VALLEY
MIXED-USE
VIEWS
VAIL VALLEY
MIXED-USE
JARED ECK
303-800-9177
jared@kensingtondev.com
EYE-LEVEL 2: LAKEFRONT
VAIL VALLEY
MIXED-USE
JARED ECK
303-800-9177
jared@kensingtondev.com
RETAIL PREMENADE
VAIL VALLEY
MIXED-USE
JARED ECK
303-800-9177
jared@kensingtondev.com