The agreement provides that Vail Resorts will guarantee that, if passed, the tax will raise at least $3.5 million per year for the town, with the annual amount to be increased each year with inflation. Breckenridge officials have compared the tax to the 4 percent parking tax the Town of Vail imposes on lift ticket sales.

John Warner, mayor of Breckenridge, said the tax revenue would help the town address much-needed improvements, including a large new parking garage, pedestrian bridges, road improvements, and employee parking lots.

“The community has been telling us that parking and transit are an extremely important issue for the future of Breckenridge,” said Warner. “A positive relationship with the ski area is important, and the Council felt this compromise still meets the community’s needs.”

“Parking and transit are real issues for the Breckenridge community, and we are pleased to have an agreement that provides the town the funding required to address these needs,” said John Buhler, COO of Breckenridge resort. “We have had a spirited dialogue on this topic and are comfortable that the community is in a position to decide whether to pass this proposal in the November election.”