2025 Budget Review and Discussion

Frisco Finance and Public Works staff presented the proposed 2025 budget to Town Council during the September 10 worksession. Significant budgetary items were broken down into priorities outlined in the strategic plan:

• Quality Core Services
• Vibrant Arts, Cultural, and Recreational Opportunities
• Community Inclusivity
• Thriving Economy

Council was presented with a summary of all funds; the Town has 11 funds total. Since 2014, the Town Council has set a seven-month reserve requirement for the General Fund; the General Fund is used to fund traditional Town services. Amounts more than this reserve are transferred to the Capital Improvement Fund for capital projects. Also, it is important to note that the Town only receives about $300,000 per year in property tax and that most of the Town’s revenue in the General and Lodging Funds comes from sales and lodging tax. A quick overview of the General Fund Budget:

General Fund

• Budgeted Revenue: 2024- $20,272,758 and 2025- $21,460,322
• Budgeted Expenditures: 2024- $20,317,405 and 2025- $21,274,978

Council was also presented with a debt overview and capital improvement plan for 2025. Council discussed the budget (with some key areas outlined below) and proposed projects and gave staff direction to return with a budget for approval in October. Staff reiterated that they will also return to the next meeting with a non-profit grant discussion and fiber infrastructure discussion so there will be more information about these budget items before the October vote. 

Discussion Points

• Paper filing and billing fee: Staff proposed that the quarterly paper filing and billing fee go from $5 to $10 fee per bill/filing to cover expenses. Council agreed to this increase.
• Secondary education scholarship budget: Council agreed to a $25,000 budget for high school graduate scholarships for 2025, but Council may not spend the full amount based on the number of applications.
• Potential arts and culture fund: The Frisco Arts and Culture Council has proposed the creation of an Arts and Culture Fund to receive cash donations, rather than donations going to the general fund, and in order to save for future larger projects, as outlined in the Strategic Art and Culture Plan. Town Council would still need to approve yearly expenditures through the annual budgeting process. Council agreed to establish this fund and fund it at the same current levels. Council did ask staff to return with a recommendation from the FACC for a funding threshold that would require Town Council approval.
• Capital improvement fund project timing: Staff asked Council to consider the next five years of proposed capital improvements and to focus especially on projects over $1 million in projected cost from 2025 to 2029:  2025- fiber infrastructure $2 million; 2026- Pioneer Park improvements $1.5 million; 2027- fiber infrastructure $1 million and Miner’s Creek recreation path bridge $1.4 million; 2028- Exit 203 landscape/construction $1.75 million, fiber infrastructure $1 million, and Highway 9 sidewalk from Walmart entrance to Lusher Court $1.4 million; and 2029- Granite Street/complete street improvements $11 million and fiber infrastructure $1 million. If all of the projects that are outlined in the current five-year capital plan were completed, then it would result in a fund deficit of over $7 million in five years, which is why staff presented this draft five-year capital plan to Council so they could continue to strategize around which projects to prioritize for the community in 2025 and beyond. Council also asked staff to add two projects to this draft capital plan, bathrooms at the Marina and the Backyard Plan implementation.

Kent Willis Receives Frisco’s Finest Award

In 1983 Colorado native, Kent Willis, moved from Denver and made his home in Frisco, Colorado where he and his wife, Anna Willis, raised their four children. Kent made a significant impact on the Frisco and Summit County communities by serving on Frisco Town Council for eight years and the Summit Stage Board for 18 years. Kent also had a profound impact on the special needs community across Summit County and Colorado by serving on the boards of the Peak Parent Center and the Developmental Disabilities Resource Center and by coaching the Special Olympics of Colorado Summit County Alpine Ski Team for 15 years and counting. Kent was a member of the Summit County Rotary Club for 13 years and has been on the Breckenridge Mountain Rotary Club from 2006 to the present. Most notably, Kent and his family had a brief jalapeno popper “empire’ at the Frisco BBQ Challenge, which included one year where the family made 4,000 poppers. Therefore, Frisco Town Council presented the Frisco’s Finest award to Kent Willis for outstanding contributions in making Frisco a better place to live, work, and play.

Town Selling Four Homes Through Housing Helps

In 2019, Frisco Town Council established the framework for the Frisco Housing Helps Program through Resolution 19-31. The Housing Helps program was established to help residents obtain and maintain affordable housing, assist businesses with housing their employees, incentivize investment in local housing, and help preserve the character of the Frisco community. Housing Helps is one of the strategies deployed to address Town Council’s priority goal to implement housing solutions.

In December 2020, the Town purchased 500 Bill Ranch Road Unit C-111, a one-bedroom condominium, and in 2024, the Town purchased three additional units located at 220 Galena Street units 1 and 2, two-bedroom condominiums, and 99 Granite Street unit 210, a studio. The intent of these purchases is for the Town to purchase market rate units, establish deed restriction on the properties, and then sell each property at a reduced price that is based on the most recent Area Median Income (AMI) limits. The Town is proposing that all four units be sold at a 100% AMI level.

AMI and Housing Cost

The AMI selection was based on unit size, Town investment costs, community need, and the Town’s commitment to State Proposition 123 which supports increasing the amount of affordable housing. Therefore, a qualified owner’s income based on a two-bedroom may not exceed $97,500 with a maximum sale price of $374,516, an owner’s income base on a one-bedroom may not exceed $91,400 with a maximum sale price of $298,110, and an owner’s income based on a studio may not exceed with a maximum sale price of $272,641.

Housing Lottery

In cooperation with the Summit Combined Housing Authority (SCHA) and Omni Real Estate, a lottery system has been developed to select potential buyers for the units; this process is much like what was used at Smith Ranch. Two to four units will be available in the lottery, depending on whether renters currently in two of the units wish to purchase the units. Units will have individual lotteries to select the order in which qualified applicants will have the opportunity to purchase a unit. SCHA will assist the Town by receiving and processing applications from prospective buyers. Once an applicant has been qualified by SCHA, the applicant will receive one or two tickets based on criteria established in the lottery system. Those criteria are:

1. Applicant(s) work for a business or organization operating within one mile of the Ten Mile Basin (in summary- Copper; Frisco, including the hospital, County Commons; and the middle school, and Farmer’s Corner, including the high school) and average 30 hours per week on an annual basis will receive one ticket.
2. An additional entry into the lottery will be given to applicants currently living or working in the Town of Frisco and who have done so continuously for at least five years prior to the date of application. Frisco employment must be an average of 30 hours per week on an annual basis within the Town limits. Current residency must be within the Town limits. Applicants meeting one or both priority criteria will receive a total of one additional entry in the lottery. In summary, there will be a two-entry maximum per applicant.

The Town’s real estate broker, Omni Real Estate, will assist the Town in processing all legal agreements, providing disclosures, communicating with clients, marketing, and holding open houses for prospective buyers. Omni Real Estate will be retaining the open listing for each property for 10 calendar days. Tentatively, the Town believes that applications for the lottery will open in October. Interested residents should start the process of finding housing through SCHA and finding out about workforce housing opportunities like this by filling out the SCHA preliminary applicant screening form.  

Why do these home sales need to be approved by ordinance?

Per the Colorado Revised Statutes section 31-15-713(b), the Town must authorize the selling of Town owned real property by ordinance. Staff is evaluating future buy back purchases that would be initiated by Frisco Housing Authority, which would eliminate the need for future Town Council authorization. Council approved sale of these four units through Ordinance 24-14 on the first reading. The second reading will be held on September 24, 2024 with a possible application process beginning in October.

Liquor License Renewal Moving to Two Years

During the most recent State legislative session, Senate Bill 24-231 was passed to revise liquor licensing rules, including renewal periods, and it went into effect on August 7, 2024. Ordinance 24-09 moves certain qualifying liquor license renewals in Frisco from one year to two years, to match the State Liquor Enforcement Division.

Town Council approved Ordinance 24-09 on the first reading. The second reading will take place on September 24, 2024.

Frisco Town Council Meetings: Ways to Participate

Frisco Town Council meetings are available to view via Zoom and YouTube, and are also held in person to make Town Council meetings easier to access for everyone.

The public can provide comment during meetings via Zoom or in person (not YouTube), and a public comment period will be available at 7:00pm; during the consideration of ordinances; and at the discretion of Town Council during work session items, which are discussions that don’t require a formal vote by Town Council and do not require public comment. Again, this hybrid approach is intended to make Town Council meetings more accessible, and meeting recordings will typically also be made available the day after a meeting in the meeting archive with agenda topics bookmarked to the discussions in the video.