Rocky Mountain station can’t offer tax credits on $30M headquarters

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A Colorado commission on Thursday rejected a request from Rocky Mountain Public Media to offer enterprise-zone tax credits to donors supporting its capital campaign for new headquarters in Denver, according to the Denver Business Journal.

“It’s a significant disappointment that we’re unable to maintain the enterprise-zone tax status that we secured when we entered into the project,” station president Amanda Mountain told the newspaper after the vote by the Colorado Economic Development Commission. She noted that the project will “keep moving forward.”

The station is in the midst of a $30 million drive for the Buell Public Media Center. The organization had hoped to offer credits of 25 percent of a donor’s contribution to the project, which was planned to be built in an enterprise development zone. However, according to the Journal, “the location of the proposed building was removed from an enterprise zone at the start of 2016 when boundaries for all zones were reconsidered.”

Commissioners “expressed significant doubt” that the center would help revitalize nearby areas of economic stagnation, the Journal said. The building will also house other nonprofit media organizations.