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SNOWMASS VILLAGE GENERAL IMPROVEMENT DISTRICT NO. 1 AGENDA DECEMBER 11, 2017 CALL TO ORDER AT 4:00 P.M. Item No. 1: ROLL CALL Item No. 2: GENERAL IMPROVEMENT DISTRICT RESOLUTION NO. 03, SERIES OF 2017 ESTABLISHING THE PROPERTY TAX MILL LEVY FOR THE SNOWMASS VILLAGE GENERAL IMPROVEMENT DISTRICT NO 1 OF THE TOWN OF SNOWMASS VILLAGE --Marianne Rakowski, Finance Director --Clint Kinney, Town Manager Page 2 Item No. 3: Item No. 4: APPROVAL OF GID MEETING MINUTES FOR: November 13, 2017 Page 5 ADJOURNMENT 12-11-17 GID Packet Page 1 of 7

AGENDA ITEM SUMMARY TOWN OF SNOWMASS VILLAGE-GID Meeting Date: December 11, 2017 Agenda Item: Presented By: Core Issues: Description: Snowmass Village General Improvement District No. 1 (GID) Resolution No. 3, Series of 2017-Levying Property Taxes Marianne Rakowski, Finance Director Clint Kinney, Town Manager Review Resolution No. 3, Series of 2017. A Resolution establishing the property tax mill levy for the Snowmass Village General Improvement District No. 1 of the Town of Snowmass Village. GID Resolution No. 3, Series of 2017 establishes the property tax mill levy for the year 2018. The Pitkin County Assessor s Office provided the GID with the estimated assessed valuation in August for use in the budget process. By December 10 th of each year, the County Assessor must recertify the assessed valuation to each entity. The GID received the recertification on December 4th. By December 15 th of each year, the GID must certify the mill levy to Pitkin County. This resolution meets that deadline. Financial Impact: The GID s assessed value decreased by 1.08% in 2017 from 2016. The overall GID mill levy will be 6.002 for 2018 collections. The GID Fund is restricted by a 10.000 mill levy cap with a 4.000 mill levy temporary reduction until the Metro District bonds are paid off. The amount of property taxes will be $233,280. Board Options: Adopt, amend or do not approve Resolution No. 3, Series of 2017 Staff Recommendation: Adopt Resolution No.3, Series of 2017 12-11-17 GID Packet Page 2 of 7

SNOWMASS VILLAGE GENERAL IMPROVEMENT DISTRICT NO. 1 TOWN OF SNOWMASS VILLAGE, COLORADO RESOLUTION NO. 3 SERIES OF 2017 A RESOLUTION LEVYING GENERAL PROPERTY TAXES FOR THE YEAR 2018 FOR GENERAL OPERATING EXPENSES OF THE SNOWMASS VILLAGE GENERAL IMPROVEMENT DISTRICT NO. 1 FOR THE TOWN OF SNOWMASS VILLAGE, FOR THE 2018 BUDGET YEAR. WHEREAS, the Board of Directors of the Snowmass Village General Improvement District No. 1 of the Town of Snowmass Village (the District ) has adopted the annual budget in accordance with the Local Government Budget Law on November 13, 2017; and WHEREAS, the amount of money necessary for general operating expenses in 2018 is $233,280.00; and WHEREAS, the 2017 valuation for assessment for the Snowmass Village General Improvement District No. 1 of the Town of Snowmass Village, Colorado, as certified by the Pitkin County Assessor is $38,867,020. NOW, THEREFORE, BE IT RESOLVED by the Snowmass Village General Improvement District No. 1 of the Town of Snowmass Village, Colorado: Section One: Action 1. That the Snowmass Village General Improvement District No. 1 of the Town of Snowmass Village does hereby levy a tax of 10.000 mills less a temporary mill levy reduction of 4.000 mills for a net mill levy of 6.000 mills plus.002 mills in abatement for a total mill levy of 6.002 upon each dollar of the total valuation for assessment of all taxable property within the Snowmass Village General Improvement District No. 1 of the Town of Snowmass Village for the year 2018 for the purposes of meeting general operating expenses. 12-11-17 GID Packet Page 3 of 7

17-03 Page 2 2. That the Finance Director of the Town of Snowmass Village is hereby authorized and directed to immediately certify to the County Commissioners of Pitkin County, Colorado, the mill levy for the Snowmass Village General Improvement District No. 1 as hereinabove determined and set. INTRODUCED, READ AND ADOPTED on the first reading by the Board of Directors of the Snowmass Village General Improvement District No. 1 of the Town of Snowmass Village, Colorado on the 11 th day of December, 2017, with a motion by, and seconded by. The motion was approved by a vote of in favor to opposed. SNOWMASS VILLAGE GENERAL IMPROVEMENT DISTRICT NO. 1 Markey Butler, Chair ATTEST: Rhonda Coxon, Secretary 12-11-17 GID Packet Page 4 of 7

1 2 3 4 GENERAL IMPROVEMENT DISTRICT NO. 1 REGULAR MEETING MINUTES NOVEMBER 13, 2017 5 6 7 8 9 CALL TO ORDER AT 4:00 P.M. GID Vice Chair Bob Sirkus called to order the Regular Meeting of the General Improvement District at 4:01 p.m. Item No. 1 ROLL CALL GID MEMBERS PRESENT: Bob Sirkus, Bill Madsen, Alyssa Shenk and Tom Goode 10 Markey Butler arrived at 4:07 p.m. GID MEMBERS ABSENT: 11 STAFF PRESENT: Clint Kinney, Town Manager; Marianne Rakowski, Finance Director; John Dresser, Town Attorney; Travis Elliott, Assistant to the Town Manager; Anne Martens, Public Works Director; and Rhonda B. Coxon, Town Clerk 12 PUBLIC PRESENT: There was no public present. 13 14 15 16 17 18 19 20 Item No. 2: RESOLUTION NO. 1, SERIES OF 2017 A RESOLUTION AMENDING THE 2017 BUDGET FOR THE SNOWMASS VILLAGE GENERAL IMPROVEMENT DISTRICT NO. 1, OF THE TOWN OF SNOWMASS VILLAGE, COLORADO Clint Kinney, Town Manager introduced this item and provided historical information for the Town Council, this resolution amends the 2017 Budget. GID Member Butler made a motion to approve Resolution No. 1, Series of 2017, the motion was seconded by GID Member Goode. The motion passed with a vote of 5 in favor and 0 opposed. 21 12-11-17 GID Packet Page 5 of 7

11-13-17 GID Minutes Page 2 of 3 22 23 GID Secretary Rhonda Coxon stated that two emails have been received and enter into the record from Pat Keefer and Stuart C. Nathan. 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 Item No. 3: RESOLUTION NO. 2, SERIES OF 2017 A RESOLUTION SUMMARIZING REVENUES AND EXPENDITURES FOR THE SNOWMASS VILLAGE GENERAL IMPROVEMENT DISTRICT NO. 1, OF THE TOWN OF SNOWMASS VILLAGE, COLORADO, AND ADOPTING A BUDGET AND APPROPRIATING SUMS OF MONEY FOR THE CALENDAR YEAR BEGINNING ON THE FIRST DAY OF JANUARY, 2018 AND ENDING ON THE LAST DAY OF DECEMBER, 2018 Clint Kinney, Town Manager and Marianne Rakowski, Finance Director provided information for the Town Council regarding the Resolution. Kinney explained there is language in the Resolution that would dissolve the GID Advisory Board which was required when setting up the General Improvement District and when there was debt. There is no longer and debt and the Advisory Board is no longer needed and the GID Board can now make recommendations. GID Member Madsen made a motion to approve Resolution No. 2, Series of 2017, seconded by GID Member Goode. The motion was approved by a vote of 5 in favor to 0 opposed. 41 42 Item No. 3: APPROVAL OF GID MEETING MINUTES FOR: --December 12, 2016 43 44 45 46 47 There being no changes to the Minutes, GID Board Member voted at this time. Bill Madsen made a motion to approve the Regular Meeting Minutes of the General Improvement District for November 13, 2017. Tom Goode seconded the motion. The motion was approved by a vote of 5 in favor to 0 opposed. 48 49 Item No. 4: At 4:15 p.m. ADJOURNMENT 50 51 52 53 54 55 Markey Butler made the motion to adjourn the Regular Meeting of the General Improvement District on Monday, November 13, 2017. Tom Goode seconded the motion. The motion was approved by a vote of 5 in favor to 0 opposed. This set of GID Minutes was approved at the Regular Meeting of the GID Board on Monday, December 11, 2017. 12-11-17 GID Packet Page 6 of 7

11-13-17 GID Minutes Page 3 of 3 56 Submitted By: 57 58 59 60 Rhonda B. Coxon GID Secretary 61 62 12-11-17 GID Packet Page 7 of 7