Jeffco receives $1.1 million for youth activities from sale of Broncos franchise
Jeffco and the other member counties of the Metropolitan Football Stadium District are receiving a $41 million share, thanks to the recent franchise sale of the Denver Broncos.
The $41 million will go to youth activities in the Denver area. Jeffco’s $1.1 million check is for unincorporated areas of the county because municipalities will receive separate checks, stadium district officials told Jeffco commissioners Sept. 20.
Jeffco is one of seven counties that includes the Metropolitan Football Stadium District, which built Empower Field at Mile High. The district levied and collected a voter-approved 0.1 percent sales tax from 2001 to 2010 to fund construction of the stadium, stadium business manager Matt Sugar said.
Sugar and Don Johnson, Jeffco’s representative on the district board, explained how the district’s lease agreement with the Broncos includes a requirement that a portion of franchise sales go to member counties, to be used for activities. young people.
The Walton-Penner ownership group bought the Broncos this summer for $4.65 billion, including $41 million for the seven counties. Sugar and Johnson said the district decided to split the funds based on the percentage of sales tax received by each county and municipality from 2001 to 2010.
Since unincorporated Jeffco’s sales tax revenue was about 2.7% of the $289 million collected by the district, Jeffco receives $1.1 million of the $41 million.
Stewards Lesley Dahlkemper and Andy Kerr were very enthusiastic, with the former saying: “This is the best news I’ve had all week, maybe all month.”
Dahlkemper clarified that this would not be subject to the TABOR cap and wondered if the county could use some of it for youth mental health efforts. She and Kerr planned to partner with local municipalities and stakeholders on how best to use the funds.
“When our children thrive, our community thrives,” Dahlkemper continued.
Sugar and Johnson said there was no set definition for “youth activities”, describing how those who drafted the requirement in the rental agreement tried to be “as broad as possible”.
Kerr hoped Jeffco could be creative with his part. Although there is no time limit on spending the funds, he has pledged to have a plan in place by the end of 2023.
“The Denver Broncos are very much a regional team…and that’s a huge economic benefit for those of us in the metro area,” Kerr said. “But, it’s rare that the economic benefit is repaid…in the form of a check like this.”
Property taxpayers will receive TABOR refund checks
Those who pay property taxes to Jeffco will receive a TABOR refund check, county officials confirmed.
In 2021, Jeffco received $17.3 million in revenue above the Taxpayer Bill of Rights Amendment revenue limit. So the county is obligated to return that money to its 213,000 property taxpayers in 2022.
Taxpayers will receive a fair share of the $17.3 million refund. The average check amount will be around $80 and 88% of property taxpayers will receive a check for $80 or less.
Although some refund checks are $1 or less, officials believe it’s important to be as fair as possible.
Elected officials could have applied a credit to 2022 property tax bills, but believed sending refund checks was the most direct and transparent way for each ratepayer to receive a fair share of the refund, officials said. responsible in a September 12 press release.
Passed by voters in 1992, the TABOR Amendment requires Colorado governments to refund revenue collected in excess of the TABOR limit for a given fiscal year or seek voter approval to retain revenue. It applies to all levels of Colorado government. For more information, visit jeffco.us.
football stadium metropolitan district,
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