DDA… Yesterday and Today

The Downtown Development Authority was originally established in 1984.

A successful mill levy election in 1993 enabled the DDA to collect property tax on downtown properties. These funds were used for downtown projects and programs. In an effort to have a more significant impact on the future of downtown Cheyenne, the DDA decided in 2000 that they wanted to utilize the “entrepreneurial holding company” model used universally in downtown management, locate in closer proximity to the core area and hire an experienced downtown manager to further the downtown development agenda.

The ultimate goals of this transition were to boost downtown’s profile on the political agenda, encourage investment in downtown and redefine the DDA’s business recruitment and retention roles. Today, the DDD offers a wide variety of projects and programs to preserve Cheyenne’s colorful history and to enhance the Historic Downtown Cheyenne, as the region’s top commercial center with more than $100 million in recent and proposed public and private investment.

We welcome visitors, business owners and property owners to stop in at the Downtown Development Authority’s office located on the 2nd floor of the Cheyenne Depot.

There are two main funding sources for the DDA - tax increment financing and a mill levy:

Tax Increment Financing - Tax Increment Financing is based on sales tax generated within the designated DDA district - the increment of sales tax between the “current” (which is always one year in arrears by nature) fiscal year and the base year sales tax amount (1993). The projected annual TIF is approximately $500,000 per year.

Mill Levy - The past level of assessment for the mill levy was 10 (.010) mills out of an allowable 30 (.030) mills. The mill levy is voted on by the property owners every 4 years. The 2009 mill levy election failed by a very narrow margin with low voter turn-out. The DDA is exploring if and when is the best time to bring this issue back before downtown property owners. The most current active mill levy will be paid through May and is expected to yield approximately $160,000 for FY 2010.