HomeMy WebLinkAbout2026-03 A Resolution of the Vail Town Council Approving an Intergovernemental Agreement between the Town of Vail and the State of Colorado Energy Office1
2/12/2026
Q:\USERS\VAIL\RES\2026\ENERGY IGA-R021226.DOCX
RESOLUTION NO. 3
SERIES 2026
A RESOLUTION OF THE VAIL TOWN COUNCIL APPROVING AN
INTERGOVERNMENTAL AGREEMENT BETWEEN THE TOWN OF
VAIL AND THE STATE OF COLORADO ENERGY OFFICE
WHEREAS, pursuant to C.R.S. § 39-22-552, the Colorado Energy Office, through
its Geothermal Energy Tax Credit Offering ("GETCO"), has reserved for the benefit of the
Town GETCO Tax Credits, which the Town may earn and claim if it meets the conditions
of the intergovernmental agreement ("IGA") attached hereto;
WHEREAS, the Town and the State of Colorado Energy Office wish to enter into
an the IGA to provide the Town with access to the tax credit reservation in the amount of
$1,781,506.80 for development and construction of a geothermal energy project; and
WHEREAS, the Town Council finds it in the best interest of the public health, safety
and welfare to approve the IGA.
NOW THEREFORE BE IT RESOLVED BY THE TOWN COUNCIL OF THE
TOWN OF VAIL:
Section 1. The Town Council hereby approves the IGA with the State of
Colorado Energy Office in substantially the form attached hereto, subject to final approval
by the Town Attorney. Upon such approval, the Town Manager is authorized to execute
the IGA on behalf of the Town.
INTRODUCED, READ, APPROVED AND ADOPTED THIS 17th day of February,
2026.
______________________________
Barry Davis, Mayor
ATTEST:
____________________________
Stephanie Kauffman, Town Clerk