The Greater Eagle Fire Protection District collected Impact Fees in the amount of $2,825 from Eagle County, $6,585 from the Town of Eagle and $25,516 from the Town of Gypsum for a total of $34,926 for calendar year 2016. Those funds were added to the fund balance of the Impact Fund, which combined with prior year Impact Fees, will be used to fund a portion of the future capital needs of the District.
During 2016, the District used Impact Fee funds of $150,642 to pay off the debt for facilities and apparatus.
On February 24, 2014 the Town of Eagle passed Resolution # 8 extending the time for the Greater Eagle Fire Protection District to expend or encumber all funds collected in connection with the subdivision and development of Eagle Ranch PUD until February 25, 2024. The District is currently holding a portion of the accumulated impact fee funds for construction of a brush creek substation, pending receipt of a parcel of land from the Haymeadow subdivision.
This information is used to summarize and introduce the December 31, 2016 financial statements of the Impact Fund which are on the following pages.
More details in attached report: