The Regional Tourism Act (RTA) of 2009 authorizes up to two projects to be approved in the State of Colorado to receive incremental tax revenue from the State. The project selected for this funding should be “of an extraordinary and unique nature and is reasonably anticipated to contribute significantly to the economic development and tourism in the state and the communities where the project is located.”
On June 30, 2011, Elkhorn Project Inc, in conjunction with the Town of Estes Park, submitted an application to the Colorado Department of Economic Development to compete for these RTA funds. As requested by the Town of Estes Park, the Elkhorn Project Inc. has reached out to the community at large to raise the funds necessary to prepare the application for submission. The first round of project(s) selected to receive RTA funding will be announced in March 2012.
A successful application for the RTA program will provide millions of dollars of incremental tax revenue over the life of the project that can be used to defray the project costs. As a result, the Elkhorn Project should be able to attract investors and/or operators who are committed to the historic preservation of the Elkhorn Lodge and the development of the associated adventure and cultural attractions.