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Commfluent Inc recently issued the following press release on the successful formation of a Downtown Development Authority (DDA) in the Town of Avon in a special election on Tuesday:
AVON, Colo. – Aug. 29, 2023 – The formation of a Downtown Development Authority (DDA) in the Town of Avon was approved by voters in Tuesday’s special election.
Only residents, landowners and lessees in the proposed DDA area were eligible to vote. Unofficial election results have the formation approved 51 to 13.
Avon Town Manager Eric Heil thanked residents and business owners for their participation in the election, saying this was an important step forward in tackling the housing crisis.
“One of the main reasons Avon Town Council put this question on the ballot is because of the severe shortage of workforce housing and how it’s negatively impacting our business community,” said Heil. “The draft DDA Plan states that at least 50 percent of the tax increment financing revenue source of the DDA shall be dedicated to community housing.”
Other revenues are proposed to be used for public infrastructure, facilities, and amenities in the downtown area, including parking structures, recreation center expansion, parks improvements and realigning roads associated with redevelopment projects.
Heil said next steps are for the Avon Town Council to appoint a Board of Directors of five to 11 members and comprised of residents and property owners within the DDA boundary, and one member of Town Council. The DDA Board reviews and approves the DDA Plan and projects that advance the DDA Plan in conjunction with the Town Council and Planning and Zoning Commission.
The boundary area of the Avon Downtown Development Authority approved by voters Tuesday encompasses the West Town Center, East Town Center and valley floor area of the Village (at Avon):