Funding the GCRA Master Plan:

The current cost to implement the Master Plan is estimated at $28 million. Previous estimates were more than $33 million, but the Town has been working with the planning team to revise the overall scope to maximize the value to the public.

The Town is considering a sales tax of no more than 1% to fund this project. Voters would need to approve it, and the funds would likely be used exclusively for the GCRA project.

Considering a sales tax for this project will ensure that visitors to Gypsum help fund a significant portion of this investment. According to a Sales Tax Analysis presented to Town Council on December 5, 2024, non-residents shopping in Gypsum pay about 53% of the Town’s sales tax.

Gypsum’s sales tax rate currently is currently 3%—one of the lowest rates in our region. The Town of Eagle’s rate, for comparison, is 4.5% and Avon’s is 4%.

Using sales tax to fund the GCRA improvements means Gypsum residents can benefit from the regional shopping and economic activity offered by our Town.  This funding will help create valuable community amenities and investments that can also boost property values.

The Town is also considering issuing bonds that would be paid using the sales tax over 15 to 30 years. A bond is similar to a mortgage and would allow Gypsum to receive the funds upfront to complete the project quicker, allowing the Town to better manage the project’s budget and avoid inflation due to materials and labor costs. A bond would also have to be approved by voters and would be paid using the GCRA sales tax.