Building for the Future

High impact investments in the Town of Vail’s community infrastructure were the focus in 2025, with the town celebrating the ground breakings for the Dobson Arena remodel and the Southface locals housing development; the first buildings set at Timber Ridge Village; and the grand opening of the Vail Art Studio. The town also invested heavily in transit and mobility improvements as well as increased social and cultural opportunities for all residents and guests. These efforts showcase the town’s commitment to addressing the community’s current needs while building for the future.

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Building Community

The town is investing in critical infrastructure to support the entire community. 

Work Begins at Dobson Arena; Community Rallies to Build Rodeo Rink

The highly anticipated and first ever complete remodel of Dobson Arena got underway in April 2025, with reopening expected in fall of 2026. The project includes new entryways to the south and west, additional bathrooms and locker rooms, and concert rigging infrastructure with design input provided by well-known event promoter AEG. The upgrades will increase the maximum spectator capacity of the arena for hockey games, concerts and shows while maintaining the facility’s iconic roof structure, a feature repeatedly requested during public input sessions. Originally opened in 1979, Dobson Arena is owned by the Town of Vail and operated by the Vail Recreation District. Read More

In addition, a community effort to ensure access to ice for a range of uses during Dobson’s closure resulted in construction of the Rodeo Rink at the Eagle County Fairgrounds. The Vail Town Council pledged a $156,000 grant and an additional $300,000 reimbursement grant to fill the funding gap for the facility. Learn More

Total Investment - $55.4 million
 Town of Vail Contribution: $44.5 million from the Vail Reinvestment Authority; $4.3 million from the Real Estate        Transfer Tax Fund; Potential Additional from Capital Fund Reserves
 Vail Recreation District Contribution: $3.4 million
 Additional Contributions: Anticipated through Fundraising

 

Partners Celebrate the Groundbreaking at Southface Vail
In June 2025, the Town of Vail and Corum Real Estate Group hosted a community groundbreaking celebration and naming ceremony for Southface Vail, the town’s newest, locals-only rental housing development. Previously referred to as West Middle Creek, the 268-home development will be comprised of 84 studios, 100 one-bedrooms and 84 two-bedrooms and will take approximately three years to complete. The development is deed-restricted, requiring that every rental home be occupied as a primary residence by at least one full-time employee of an Eagle County business. Read More

Total Investment - $199 million
 Town of Vail Contribution: $10 million plus $63.2 million through Certificates of Participation
 Vail Home Partners Contribution: $126 million through Housing Revenue Bonds

 

Exciting Progress at Timber Ridge Village
The first round of modular units that will assemble the new Timber Ridge Village arrived onsite in June 2025, giving buyers a glimpse of their future homes. Also, an enhanced partnership with Habitat for Humanity and Eagle County Government made 20 additional homes available to qualified buyers, bringing the total to 30 Habitat homes coming to Timber Ridge Village. The development includes 302 homes ranging from studios to four-bedrooms, all of which are deed-restricted requiring full-time employment at an Eagle County business. Learn More

Total Investment - $165 million

 Town of Vail Contribution: $42.4 million (reimbursable) toward construction; $10.4 million in land; $5 million for Habitat for Humanity homes; $22.5 million toward town-owned homes
 Eagle County Contribution: $5 million for Habitat for Humanity homes
 Additional Contributions: Sale of Timber Ridge homes



Vail Art Studio Brings New Amenity to Ford Park
The grand opening of the new Vail Art Studio took place in early August of 2025, offering a year-round, ADA accessible space for artists to flourish surrounded by an inspiring natural environment. Overlooking Gore Creek in Ford Park and adjacent to the Betty Ford Alpine Gardens, the Vail Art Studio includes a vaulted ceiling and 12-foot-high walls to allow for strategically placed windows providing natural light and uninterrupted wall space. The space includes an open working studio, an entrance foyer, a bathroom and storage. The inaugural Vail Art Studio Challenge took place a week after the grand opening, with a high-energy, live art event resulting in the studio’s first Artist in Residence - Christopher "Gus" Gruner of Vail. Read More

Total Investment - $1.2 million
 Town of Vail Contribution: $1.2 million from General Fund

 

Improvements Underway at a Well-Loved Park

The rehabilitation of the Gore Creek Promenade in Vail Village began in September 2025, with anticipated completion in late June of 2026.  The project will enhance the park’s useability by adding new seating, durable walkway surfaces and Gore Creek access points.  The work will also improve the quality of the natural turf areas and will add new opportunities for public art, including a sculpted stone fire feature for winter use and seasonal art locations. The last major renovation to the popular park was more than 30 years ago. Read More

Total Investment - $2.1 million
  Town of Vail Contribution: $2.1 million from Real Estate Transfer Tax Fund 

 

New Welcoming Entry to an Iconic Vail Destination

The entry to Ford Park from Vail Valley Drive over the bridge to the Gerald R. Ford Amphitheater and Vail Nature Center has been spruced up with new landscaping, bench seating, an architectural screen around multiple utility boxes and improved access to Gore Creek on a previously eroded stream bank. The project was a collaboration between the Town of Vail and the Vail Valley Foundation, along with the Betty Ford Alpine Gardens which planted and will maintain the perennial beds. Read More

Total Investment - $96,000
 Town of Vail Contribution: $76,000 from Real Estate Transfer Tax Fund
 Vail Valley Foundation Contribution: $20,000

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Building Connections

Vail is a place where residents, employees and guests thrive on connections to each other and to our spectacular natural environment.

 

Riders Enjoy Enhanced Summer Transit Offerings

Vail Transit expanded its 2025 summer schedule to include 15-minute East Vail service, West Vail Express and Lionsridge Loop service, and additional Sandstone service. The always free routes complemented the enhanced summer schedule implemented by Core Transit, which is also free throughout the majority of Eagle County. The improvements resulted in a more convenient experience for passengers and helped boost ridership to pre-pandemic levels at approximately 2.8 million annually. Learn More 

Introducing Sole Power Plus

Sole Power Plus brought welcome updates to the popular and long-standing summer Sole Power Green Commuting Challenge. The program relaunched in December 2025 as a year-round challenge and added bus rides and carpooling to the mix, making all green commuting trips eligible. Now, any trip that replaces what would have been a single occupancy motorized commute counts toward tracking and prizes – whether you walk, bike, run, skate, e-bike, carpool or bus. By choosing “Sole Power” instead of fuel power, participants support active green transportation, personal wellness and community climate action. The free tracking app is available in the Apple App Store and Google Play Store. Learn More

Town and Mountain Collaborate to Bring the Music All Winter Long

A strong partnership with Vail Mountain helped create a dynamic and unique winter-long music series both on and off the mountain during 2025, anchored by John Summit in February, April’s Après at the Amp and the Sofi Tukker concert in December. The series was complemented by the new town-produced Vail Stoke Sessions, which ran the first four Fridays of the ski season and brough out national touring acts as well as local favorite musicians for free concerts at Checkpoint Charlie. The events were supported by local businesses who participated as the food and beverage vendors on site, including the Sitzmark, Yama, El Segundo, Squash Blossom, Two Arrows, Root and Flower and Vail Brewing Company. Find Events

Vail’s Art Installations Create Magic Throughout the Year

In January and February of 2025, “Night Owls,” the Town of Vail’s Art in Public Places (AIPP) 18th Annual Winterfest installation, graced the Gore Greek Promenade with six larger-than-life sculptures featuring owls and made of ice. Free programming included educational opportunities with live raptors. By July, Ford Park was bathed in “Forest Light,” an installation by art collective HYBYCOZO, comprised of three powder-coated steel sculptures resembling the shape of large pinecones and which took on new dimensions when illuminated at dusk. One of the sculptures has remained as a permanent work in the town's public art collection. Then in December, Betty Ford Alpine Gardens and AIPP launched an interactive winter exhibit, "Yeti Ford Alpine Adventure," featuring a dazzling display of giant yetis transformed into unique works of art by local students of Homestake Peak School, Red Sandstone Elementary, Vail Mountain School and Vail Ski and Snowboard Academy. The seven-foot-tall, blank plywood figures were created by the Town of Vail’s carpenters as canvasses for the project. The yetis will be in place through March 2026. Learn More

Improved Mountain Makerspace Reopens

The revamped Mountain Makerspace in the Vail Public Library opened in December 2025. The welcoming, creative space now includes a 3D printer with laser cutter, increased digitization capabilities for VHS and Digital 8 conversions, a Cricut machine and multiple sewing machines for increased programming opportunities both inside and outside the library. The equipment has been used to make wooden signs that can be seen all over town from local restaurants to Vail’s welcome centers. Patrons are invited to drop in on the lower level of the library to explore, create, collaborate and invent in a safe and supportive environment. Learn More

Debut of Gore Valley Trail Interpretive Program

The Gore Valley Trail Interpretive Installation had its summer debut in 2025, featuring eight exhibits stretching from the East Vail I-70 Interchange to Donovan Park. The series is located along the recreation path and is designed to enhance the trail users’ experience of the natural environment along Gore Creek. Each exhibit focuses on a specific aspect of creek ecology and stream restoration. Life-sized or larger-than-life bronze sculptures of native animals illustrate different themes while several sites also have interactive elements including spotting scopes or viewing tubes to direct the visitor’s attention to the environment around them. Read More

Evacuation Game Night and Rollout of Updated Evacuation Plan

Vail Fire & Emergency Services brought community members together for a fun and educational evening, its first ever “Evacuation Game Night” in May 2025. A terrific turnout allowed participants to use custom Town of Vail game boards to engage in some friendly competition while thinking through how they would safely evacuate Vail during an emergency. In August, Vail Fire along with the Vail Police Department rolled out an updated townwide emergency evacuation plan which includes important instructions for residents and visitors, modernized procedures, and lessons learned from recent emergency management experiences. Learn More

New Safety Measures on I-70

In early 2025, the Vail Police Department implemented a new I-70 Vail Pass closure plan, shifting the long-standing closure point from Exit 176 to Exit 180. This change reduced congestion within the town while maintaining critical access to Vail Health and parking structures and supporting more effective traffic management during major incidents. In addition, a new municipal chain law ordinance was approved, significantly strengthening enforcement of chain law rules and regulations on I-70 within the Town of Vail. This initiative played a critical role in keeping the interstate open during winter storm events, as increased enforcement led to higher compliance by commercial vehicles and a substantial reduction in highway closures. Read More

Speed Enforcement Cameras Installed at Two Locations

The Town of Vail launched its automated speed enforcement program in November 2025 to improve safety at two areas in town that see high volumes of intermingled pedestrian and vehicle traffic. Cameras monitoring traffic both eastbound and westbound are in place on the North Frontage Road at the pedestrian crosswalk near Safeway in West Vail. An additional camera is monitoring westbound traffic on the South Frontage Road near the Vail Transportation Center. Motorists who receive a first offense of less than 10 miles per hour over the posted speed limit receive a written warning. Subsequent or more serious violations result in a $40 fine. Read More

Vail Ramps Up Fire Free Five Campaign; Offers Assistance to Property Owners

Aimed at increasing wildfire resilience, the town conducted a robust public outreach campaign during the summer of 2025 to educate property owners on the importance of maintaining a 5-foot non-combustible zone – or Fire Free Five - around all structures in the Town of Vail. In addition, Vail Fire & Emergency Services continued its program to reimburse owners who voluntarily undertook Fire Free Five projects and hosted free workdays to help community members reduce wildfire risk around their homes. Read More

Council Approves Energy Investments to Reduce Costs and Emissions

The Vail Energy Conservation and District Geothermal Project was approved by the Vail Town Council in November 2025, and includes facility HVAC and lighting upgrades, solar and battery storage, electric vehicle charging stations and more. The project also launches the first node of the District Geothermal Energy project at the Vail Public Library. The town will realize over $200,000 in energy savings annually, with a project payback period of under 14 years. The geothermal component of the project will help supply heat for the snowmelt systems and nearby buildings, as well as utilize waste heat from the Dobson Ice Arena. The $9.1 million total project cost is offset by $4.2 million in grant funding from project partners as well as the Inflation Reduction Act, and will achieve nearly 30% of the town’s emissions reduction goal of 50% by 2030. Read More

Preserving Vibrancy and Atmosphere in Vail’s Pedestrian Cores

In response to the Vail Town Council’s desire to maintain and enhance vibrancy in Vail Village and Lionshead, a “no net loss” provision was added to the Vail Town Code that applies to existing eating and drinking establishments in certain zone districts. Approved in November 2025, Ordinance 27 is intended to ensure the continued existence of legacy gathering places while incentivizing the opening of new bars and restaurants. Learn More

Popular “Green” Programs Return for Spring

In May 2025, the Town of Vail hosted its always popular Hard to Recycle Event with a record 443 cars coming through the convenient, drive through drop-off. Approximately 20 tons of hard to recycle materials were diverted from the landfill. May also saw the return of the Shift Bike e-bike share program. In its fourth year, the program hosted 12,717 rides for 35,683 miles in Vail, EagleVail, Avon and Edwards, resulting in the reduction of 13.57 metric tons of greenhouse gas emissions. Learn More

Town Prioritizes Information Availability and Accessibility

Town of Vail social media channels, including Facebook, Instagram and Threads, saw significant growth in 2025 with key metrics increasing across the board, with impressions up by 120%; engagements up 62%; and audience up 32%. Strong impression and engagement rates are indicators to social media platforms of quality content, increasing the likelihood of posts reaching target audiences. For the town, this is an important way to engage those who may not get seek out information through more traditional channels.

In addition, the town has been working to improve its overall website Quality Assurance Compliance Score, which now sits at nearly 95% or approximately 22% higher than the industry average. This score ensures the town is providing website content that is clear and readable and provides an optimal experience for users with varying abilities and across various devices. Read More

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Building on our Strengths

The strength of the town is embodied within its dedicated people.

New Vail Town Council Includes Familiar Faces

The 2025 Vail Town Council election brought back two familiar faces with the election of Kim Langmaid and Kevin Foley – both past serving council members. Langmaid was first elected to the Town Council in 2015, was re-elected in 2019 and served as mayor from 2021 to 2023. Foley holds the record of the longest-serving council member. He served from 1995-2001; 2005-2013; 2015-2023 and is now back for 2025-2029. Voters also re-elected council members Barry Davis, who was elected mayor by his fellow members, and Sam Biszantz, who will serve a two-year term. The rest of the council includes three incumbents, Mayor Pro Tem Reid Phillips, Dave Chapin and Jonathan Staufer. Read More

Vail’s Public Works and Transportation Director Retires, New Director Named

After 36 years of paving the way for safer roads and stronger infrastructure, the Town of Vail’s Public Works and Transportation Director Greg Hall retired in July of 2025. Hall helped shape the way residents and guests move around town, including reconstruction of neighborhood roads, the design and construction of the International Bridge, the Dowd Junction bridge and recreation path, and the Village Streetscape Project. Among his most notable projects are the Main Vail and West Vail roundabouts, with the Main Vail roundabout recognized as the first modern roundabout interchange in North America. Vail’s streets and incredible transportation system are in good hands with the appointment of Tom Kassmel to the director post. Kassmel has been with the town for 25 years, serving as the town engineer 21 of those years. His deep understanding of Vail’s inner workings will keep the town moving forward. Read More

Town says Goodbye and Hello to Municipal Court Judges

The Town of Vail said goodbye to its beloved municipal court judge Cyrus “Buck” Allen III, who retired after 45 years of service in February of 2025 saying the best part of his job as judge was the ability to connect with people who came through his court. In April, Vail welcomed Courtney Holm to the office, who in addition to running a general law practice for more than 20 years, is the presiding municipal judge for the Town of Gypsum and the deputy municipal judge in Minturn. Vail is Holm’s hometown and she says it’s an absolute honor to serve as its municipal judge. Read More

Thank You and Farwell to Three Longtime Public Works Employees

Combined they had 126 years of service, and their work can be admired on every street corner - three longtime Public Works employees were lauded at their retirement party in December of 2025. Public Works Streets Superintendent Charlie Turnbull started with the town when he was just 17 and has retired after 46 years. He lived by the slogan “a clean town is a happy town,” and Vail reaped the benefits. Janeil Turnbull, department office manager, worked full-time for the town for 40 years, most of which was with the public works crew. Known for taking care of everything in public works from the small to the big, she loved working with the team. Jim Hervert, streets crew leader, had a 38-year run in Vail’s public works department. He was admired for his precision and dedication – he once stood guard for 24 hours at a bridge to ensure public safety after mountain lions were spotted nearby. Happy trails to all three dedicated town employees.

Going Above and Beyond: Vail First Responders Honored for Exceptional Service

An impressive showing of Vail police officers, firefighters and emergency communication specialists were honored at the annual “Night of Excellence” in October of 2025. Vail Police Department received a Call of the Year award for work on a multi-jurisdictional crime spree. The department also was recognized, alongside the Sheriff’s Office and Colorado State Patrol, for saving two young children and their grandmother involved in a volatile domestic incident. Vail Detective Jose Balderas received the First Responder of the Year award for demonstrating outstanding performance throughout the year. Harrison Breen, Vail Code Enforcement Officer, received the Lifesaving Medal for a life-saving act outside of normal duties. Vail Police Officers Abigail Castillo, Blake Gould and Charles LeFleur were presented with the Unit Citation for Meritorious Service for their team’s seamless transition from investigation to a physically demanding rescue. Vail Fire and Emergency Services, along with Eagle County Paramedic Services, received a Call of the Year award for work on a massive accident on Vail Pass involving two semis. The Vail Public Safety Communications Center (VPSCC) was recognized for its masterful command of complex crises, proactive leadership in public safety, and unwavering composure under pressure. Rebecca Pacheco, CAD Administrator at VPSCC, and Robert Genno, Vail detective, were presented with the Distinguished Service Award for outstanding and distinguished service to the people of Eagle County. See More

Deputy Fire Chief Named Fire Marshal of the Year

Vail Fire and Emergency Services Deputy Chief Ryan Ocepek was named Fire Marshal of the Year in 2025 by the Fire Marshals Association of Colorado (FMAC) for demonstrating professional excellence, leadership and service that inspires others throughout the state. Ocepek was nominated by his team, which the FMAC called "a clear reflection of the respect and admiration he has earned from within the department." He was instrumental in establishing the FMAC Mountain Region Chapter; he developed proactive risk assessment and inspection programs for commercial, mixed-use and short-term rental occupancies in Vail; he mentored inspectors; and he helped build a prevention program where compliance is achieved through collaboration, not enforcement.

Steve Lindstrom and George Ruther Trailblazers in Vail’s Housing Programs

Both tireless advocates for local housing, Steve Lindstrom and George Ruther were joint recipients of the 2025 Trailblazer Award presented by the Vail Town Council. The pair shifted the political and popular narrative on housing from political overreach to essential for the town’s long-term prosperity. Lindstrom has served on Vail’s Local Housing Authority for 25 years and Ruther was the first director of the Vail Housing Department. Through their collaboration, the two were seen as leaders in putting Vail on the map nationwide for innovations they brought to housing, including the award-winning Vail InDEED program. Read More

New Programs for Employees Aim to Help with Home Ownership, Ease the Workday

In 2025, the town enhanced its Employee Home Ownership Program, which offers loans to full-time Town of Vail employees to help purchase a home. The expanded program increased loan values with added location eligibility and loan types, all with the aim of supporting employees in becoming homeowners and helping to create the stable workforce critical to providing town services. In addition, the town’s Human Resources, Information Technology and Finance departments rolled out “Workday,” a new, modern employee services platform. The platform consolidated benefits, timekeeping and payroll for all employees to a central resource, helping employees save time and stay organized.

 

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Building the Foundation

The town is leveraging its resources to fund critical infrastructure while ensuring fiscal responsibility.

Financial Summary

Across all Town of Vail funds, total revenues for 2025 were $210 million. This includes $65.5 million in proceeds from Certificates of Participation issued to support the new Southface Vail housing development. It also includes $15.7 million in reimbursements related to the Dobson Arena remodel project, refunding the majority of the town’s expenditures for that project during the year.

For a more comparable year-over-year analysis, one-time grants, project reimbursements, and debt proceeds can be excluded. On this basis, total revenues were $113.7 million, a slight decrease of $815,000 or 0.7% compared to 2024. The decrease was primarily driven by lower interest revenues.

Total expenditures across all town funds amounted to $196.4 million. Of this total, $118.8 million or 60.5% was invested in capital projects while $73 million or 37.2% was allocated to municipal services. The remaining 2.3% covered debt service payments.

Overall, town revenues exceeded expenditures by $13.6 million. However, several projects budgeted for 2025 were not completed during the year and will carry forward into 2026. These include the Dobson Arena remodel, contributions to Habitat for Humanity housing, parking infrastructure maintenance, the Gore Creek Promenade renewal project, and the Vail Energy Conservation and District Geothermal Project. Funding for these initiatives will be supported by the additional 2025 revenues as well as existing reserves.

Sales Tax Collections

Sales tax is the Town of Vail’s largest revenue source, accounting for 38% of total revenues. In 2025, collections from the town’s 4% general sales tax totaled $43.6 million, representing a 3.4% increase over the previous year.

During the winter months of January through April, collections increased 3.5% driven in part by Easter falling in April rather than March in 2025, which tends to shift visitation patterns to later into the spring. The summer season was particularly strong, with collections 5% higher than the prior year. For the first part of the 2025–26 ski season including November and December, sales tax collections were down slightly by 0.2% compared to the prior year, due to lower snowfall.

Reserve Balances

Town reserves remain healthy at a projected $163.1 million at the end of 2025, up 8% from 2024 and down 6% from 2023. The Vail Town Council has strategically used the financial strength of town reserves to cash finance capital projects where appropriate.

This strategy will continue over the next year, with reserve funds supporting several major projects: 

 Redevelopment of Dobson Arena at $55.4 million, to be repaid by the Vail Reinvestment Authority by 2030

 Purchase of units at the new Timber Ridge Village for community rentals at $22.5 million

 Partnership with Habitat for Humanity to provide zero-interest home purchasing options at Timber Ridge Village at $5 million

 Construction of a new transit stop at Timber Ridge Village at $1.9 million; Annual parking structure maintenance and improvements at $2.5 million per year; and Library geothermal project at $9.1 million, partially funded by state and federal grants.

Combined with the town’s reserve policy, restricted funds, and other future commitments, the following chart shows total reserves across all funds similar to the one above. However, not all of these funds are available for spending. The portion shown in green below represents funds that are available to spend, while the portion shown in blue represents restricted funds. 

In 2026, the Town is projected to have $54.7 million in available funds for expenditure, with most of these funds held within the General Fund. Reserve balances in 2026 and beyond are expected to rely in part on the sale of Timber Ridge Village homes, which could return up to $40 million in proceeds to the town.

Financing Strategies Supporting Vail's Major Community Investments

Over the past two years, the Town of Vail has funded several of its largest capital investments through a combination of partnerships, creative financing structures, and strategic use of existing reserves. Three major projects, Timber Ridge Village, Southface Vail and the Dobson Arena remodel, demonstrate how the town has been able to advance major housing and infrastructure projects while maintaining long-term financial sustainability and creating opportunities to reinvest in future community priorities.

Timber Ridge Village Redevelopment
The redevelopment of Timber Ridge Village redevelopment represents a total commitment of approximately $80.3 million from the Town of Vail. This includes $42.4 million in direct project funding, an additional $5 million toward Habitat for Humanity homes, $10.4 million in contributed land value, and a $22.5 million commitment toward the purchase of housing to support community rentals.

Importantly, the town’s investment has the potential to generate up to $38.6 million in returns as homes are sold. These proceeds are planned to be recycled back into the Housing Fund, allowing the town to support future workforce housing initiatives.

Southface Vail Housing Development
Southface Vail, with a total development cost of approximately $189.2 million, represents one of the most significant housing developments in Vail’s history. To deliver this project, the town partnered with the Vail Local Housing Authority and implemented an innovative financing structure.

The town issued approximately $63.2 million in Certificates of Participation (COPs) to support the development and contributed $10 million in cash. In partnership with the Vail Local Housing Authority, the town also established a nonprofit entity called the Vail Home Partners that enabled the issuance of approximately $126 million in housing revenue bonds. Investors placed $2.5 billion in orders for the $189 million bond offering, reflecting strong market confidence in the project.

The project’s rental revenues are projected to fully cover the debt service, while also generating an estimated $88 million reserve over the 40-year life of the debt, creating long-term financial sustainability for the development.

Dobson Arena Redevelopment
The $55.4 million redevelopment of Dobson Arena is being funded through a strategic use of the town’s Urban Renewal Authority and Tax Increment Financing.

The Urban Renewal District, established in 2003 and primarily covering the Lionshead area, was designed to capture incremental increases in property tax revenues generated by redevelopment within the district. These revenues have funded projects such as the Lionshead Welcome Center and Transit Center, the Children’s Garden of Learning childcare facility, and the Red Sandstone Parking Garage.

With the district scheduled to expire in June 2030 and Dobson Arena requiring significant repairs, maintenance and updates, the Town identified the arena renovation as an ideal final project for the district. The town will cash fund the project upfront, which allowed construction to begin in 2025. Over the next five years, the town will be reimbursed through the district’s remaining tax increment revenues, effectively leveraging the final years of the district to fund a major community asset.