Eagle is no Glenwood Springs
Some note has been made of late about the sales tax revenue profits generated by the Glenwood Meadows shopping mall for the city of Glenwood Springs and how this is a portent of what the proposed Eagle River Station could do for the Town of Eagle. However, except for the size of the commercial retail space in the malls, which is roughly similar but with Eagle River Station being about 25 percent larger, there is little similarity between the two.
First is the cut of the generated sales tax given by the developers to the two towns. Glenwood Meadows received, at most, according to the City of Glenwood Springs finance director, a 20 percent sales tax break lasting five years. Glenwood will not give a larger tax break to any developer, period. Eagle River Station, on the other hand, is asking for an 80 percent tax break lasting 20-25 years from the town of Eagle.
Whereas Glenwood Meadows gives 80 percent of their sales tax to the city of Glenwood, Eagle River Station is proposing to give only 20 percent of its sales tax revenue to the town of Eagle.
Secondly, Eagle is not geographically centered to assume the shopping power that Glenwood Springs has. Glenwood rests in the intersection of three major valleys: the Roaring Fork Valley, the Eagle Valley, and the upper Grand Valley. The commuter traffic that goes through Glenwood Springs coming from/to other satellite towns is huge as things go in this part of the Western Slope. Eagle cannot hope to be the same draw as Glenwood. Witness to this is the demise of the Eagle Valley’s lone car dealership this summer, Castle Peak Ford in Gypsum. They couldn’t make it here, because it’s not like Glenwood.
If you have any doubts about what is going on concerning sales tax and Eagle River Station, come to the Eagle Town Board meeting coming up in a couple of weeks that will deal with the Eagle River Station financials.