Collaborating for Community: A Proposal for Sundance Film Festival in Colorado
Welcome to Colorado, Sundance Film Festival! We are thrilled to have you here and hope you enjoy your time in our beautiful state. Congratulations on securing a generous $70 million relocation incentive from Colorado's state, city, and county governments, a significant increase compared to the offers from Utah and Ohio. Boulder's appeal and welcoming atmosphere made it the clear choice for Sundance, despite the higher incentives provided.
While the initial deal seemed beneficial for both parties, recent changes in Colorado's financial landscape have created challenges. The state's Taxpayer's Bill of Rights (TABOR) limits revenue retention, and a significant revenue reduction has forced difficult budget decisions. Cuts to essential programs like Medicaid and support for the Intellectually and Developmentally Delayed (IDD) community have become necessary, impacting vulnerable populations.
In light of these challenges, it is proposed that Sundance Film Festival consider relinquishing the $4 million in tax credits it may be entitled to next year. By forgoing these credits, the saved revenue could be redirected to support Colorado's IDD community, potentially doubling the investment to $8 million with federal matching funds. This request aims to address the current financial strain on essential services without impacting the festival's overall operations.
As Colorado navigates budget constraints and funding cuts, sharing the burden with valued partners like Sundance can help mitigate the impact on vulnerable populations. By considering this proposal, Sundance can demonstrate its commitment to supporting the communities it visits and contribute to Colorado's efforts to address current financial challenges. Thank you for your consideration, and we look forward to a mutually beneficial partnership during your time in Colorado.