Dancing Spirit is excited to be approved as an enterprise zone project!
Our goal is to start building before the end of 2022.
We are actively working on financing possibilities, grants and fundraising to reach this goal. Until we get our new building completed, Dancing Spirit will continue to have office hours and art classes at the ELHI Community Center, and will host a temporary co-op art gallery for art sales, shows and performances at 695 Goddard Ave (the blue building).
Building Project Timeline
Land Purchase
Plat Survey
Building Design by Clear Heart Designs
Ground Breaking Ceremony
Finalize plans
Building plans submitted to the Town of Ignacio
Building Plans Approved
Building Permit Received
Innovative Designs and Renovations Contract Completed
Apply for Colorado Creative Industries Grant
(THANK YOU CCI FOR YOUR GENEROUS GRANT!)
Dancing Spirit is approved by the Colorado Economic Development Commission as an Enterprise Zone Contribution Project
Complete USDA Loan Process
Fundraiser
Begin Construction
Building Complete!
Grand Opening Ceremony (You're Invited!)
Make a certified contribution to Dancing Spirit Community Arts Center, and get either 25% of a cash donation as a state income tax credit or 12.5% of an in-kind donation as a state income tax credit
What is an enterprise zone?
The Colorado legislature created the Enterprise Zone Program to encourage development in economically distressed areas of the state. The 16 designated enterprise zones have high unemployment rates, low per capita income, or slow population growth.
In designated enterprise zones:
- businesses are eligible for state income tax credits and sales and use tax exemptions for specific business investments
- economic development projects form by incentivizing taxpayers to contribute through state income tax credits
- taxpayers who contribute to enterprise zone projects may earn income tax credits
- Enterprise zone areas within rural counties that meet additional economic distress criteria receive enhanced rural enterprise zone status. Businesses within enhanced rural enterprise zones earn additional tax credits when adding net new employees.
(https://choosecolorado.com/doing-business/incentives/enterprise-zone-program/)
What does that mean for me?
The Enterprise Zone Contribution Tax Credit provides a tax credit to Colorado taxpayers that contribute to targeted enterprise zone projects. When taxpayers make a certified contribution, they can claim:
- 25% of a cash donation as a state income tax credit
- 12.5% of an in-kind donation as a state income tax credit
The amount of this tax credit is capped at $100,000 per taxpayer per tax year. If you cannot use all of your credits in a given tax year, you can carry forward the balance up to five years.
(https://oedit.colorado.gov/enterprise-zone-contribution-tax-credit)
More Information
Enterprise Zone Contribution Policies