MOUNTAIN VILLAGE – The Colorado Economic Development Commission has granted “Contribution Project” status for the Mountain Village Gondola Project, a partner of the Green Gondola Project, which uses donations to fund energy-efficient enhancements to the gondola system via the installation of solar panels and other capital improvements. The new status offers donors 25 percent state and federal income tax credits, up to a $100,000 maximum credit. In-kind donations receive 12.5 percent state and federal income tax credit, with a minimum donation of $50 for cash and $100 for in-kind contributions.
“The gondola drives economic development in the Telluride Region by providing a vital, free transit system for the local workforce and a critical tourism connection between the symbiotic towns of Telluride and Mountain Village,” said Community Development Director Chris Hawkins. “Capital improvement projects funded would lead to reduced operating costs, increased service efficiency, and support improved regional tourism services, all to create a greener tourism destination. Anticipated economic benefits include job retention, increased tourism, and enhancing this vital workforce transit connection.”
The new status supports the town’s Green Gondola Project, which uses all donations to fund energy-efficient enhancements to the gondola system, including the installation of solar panels. According to Environmental Services Director Deanna Drew, the town’s goal is to eventually operate the gondola on 100 percent green power.
Colorado's Enterprise Zone program provides tax incentives to encourage businesses to locate and expand in designated economically-distressed areas of the state. Mountain Village is located within a state-designated Enterprise Zone that allows for a broad range of economic development tools, including Contribution Project status. Region 10, an organization offering public programs in support of 18 local communities and six counties in western Colorado, was instrumental in assisting Mountain Village obtain Contribution Project status, with local Enterprise Zone coordinator Rhona Keckler approving the initial request prior to submission to the Economic Development Commission.
“The Town of Mountain Village greatly appreciates the assistance of Rhona and Region 10 in helping us reach our economic development initiatives,” said Hawkins.
For more information or to donate, contact Hawkins at email@example.com.