Title
A Resolution of the City Council of Colorado Springs, Colorado approving the roposed 2027 Operating Plan and Budget for the Creekwalk Marketplace Business Improvement District.
Located in Council District #3
Presenter:
Drew Foxx, Planner II, Planning Department
Kevin Walker, Planning Director, City Planning Department
Body
Summary:
The Creekwalk Marketplace 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 Operating Plan and Budget for this BID anticipates increasing its mill levy in 2027. The District imposed a 10.333 mill levy for operations and maintenance and 51.666 mill levy for debt service in 2026. In 2027, these mill levies are proposed to be 11.578 mills and 57.893 respectively. In addition to the mill levy increases, the District has expressed its intent to include new parcels to be submitted to the City in 2026 and/or 2027. Should these inclusions move forward, these actions require separate action and approval from City Council.
Background:
The initial boundaries of this development-specific BID were established pursuant to an election in 2016 with additional properties added over the years bringing the District’s current acreage to approximately 15.365 acres. The properties included within the District are largely discontinuous but are all situated along the South Nevada corridor between South Motor Way and East Cheynne Road. This BID has a 5-member elected board comprised of individuals associated with this redevelopment project. 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.
In 2027 the District anticipates raising the operation and maintenance...
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