Title
A Resolution of the City Council of Colorado Springs, Colorado Approving the Proposed 2027 Operating Plan and Budget for the Barnes & Powers North Business Improvement District.
Located in Council District #6
Presenter:
Drew Foxx, Planner II, Planning Department
Kevin Walker, Planning Director, City Planning Department
Body
Summary:
The Barnes & Powers North Business Improvement District (BID) is a legal entity separate from the City of Colorado Springs. However, as required by State statute, it is necessary for City Council to review and approve the proposed 2027 Operating Plan and Budget for the BID.
The District will increase its mill levy from 1.047 mill to 1.159 mills for operations and increase from 53.703 mills to 57.995 mills for debt service in 2027. The only other change that will impact the District’s financial and operational state is the proposed dissolution of Barnes and Powers South BID, which has been in an intergovernmental agreement with the subject BID since 2011. The District will continue to service its remaining debt and service the commercial properties northeast of the intersection of Barnes Road and Powers Boulevard.
Background:
This District was formed in 2004 through Ordinance 04-49 to serve the northeast corner of the intersection of Barnes Road and Powers Boulevard. Since its creation, the District has held the same boundaries including approximately twenty-eight (28) acres. This BID has an elected board comprised of individuals associated with Nor’wood Development Group. The District is authorized to provide the acquisition and financing of improvements, construction of improvements, operation and maintenance of parking facilities, roadways, lighting, driveways, public utilities, and landscaping.
The District’s mill levies consist of debt service and operation and maintenance mills, which will be assessed at 57.995 mills and 1.159 mills respectively in 2027. The District incurs additional revenue in the form...
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