A public hearing before the Colorado Economic Development Commission on Monday will draw more than twice as many speakers as the board’s first hearing on whether to award state incentives to any of the six projects that have applied for them.
At least 49 people are expected to testify at the hearing, from 12:50 to 6:01 p.m. in the Hershner Room at Wells Fargo center, 1700 Lincoln St.
People have signed up to speak about all six of the projects vying for funding under the Regional Tourism Act, which allows a portion of state sales taxes generated by a project that advances tourism to be used to help finance its infrastructure. The deadline to sign up to speak was April 11.
Those in favor of theApril 10, with just one person voicing opposition.
On Monday, however, Gaylord’s supporters and opponents are expected to be more evenly split. There also will be more speakers discussing the other five projects, including Montrose County’s proposed 141 tourism and commercial projects, which received no public input at the last meeting.
Gaylord, though, is by far the most controversial project, with opponents saying it will hurt downtown convention and hotel business and negatively impact Colorado’s schools.
Former state Rep. Joel Judd said all the state’s schools — not just the Brighton 27J School District, which has signed off on the project — will feel the loss of taxes if the EDC awards the $85.4 million in state sales-tax subsidies the project is seeking.
Each year, the Colorado legislature determines how much to spend on each student. If a school district can’t meet that amount, the state’s general fund makes up the difference — money that comes from the state sales tax, Judd said.
“If Aurora and Adams County want to put their money into subsidizing Gaylord, that’s their call,” he said. “To me what really matters is what happens to the schools.”
David Bell, managing director of Stifel Nicolaus’ Denver office, is expected to outline positive impact the Gaylord project would have.
“The state will likely receive substantial new tax revenues from the project: income, gas, special fuel taxes and certain sales taxes that will not be pledged to the project,” he wrote in a statement to be handed to the board Monday. “A portion of these new taxes can be used to fund K-12 education through the School Finance Act.”
Margaret Jackson: 303-954-1473, mjackson@denverpost.com or
