Title
A Resolution of the City Council of Colorado Springs, Colorado Approving the Proposed 2027 Operating Plan and Budget for the First and Main Business Improvement District.
Located in Council District #6
Presenter:
Drew Foxx, Planner II, Planning Department
Kevin Walker, Planning Director, Planning Department
Body
Summary:
The First and Main 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 1.074 mills to 1.159 mills for operations and increase the Debt Service mill levy from 53.703 mills to57.968 mills. Other than the mill levy change, the Operating Plan and Budget for this BID includes no significant anticipated activities or changes other than District administration and payment of outstanding bonds in 2027.
Background:
The boundaries of this development-specific BID were established pursuant to an election in 2003 and were modified in 2009. This District’s elected board is comprised of individuals associated with Norwood Development Group. The District consists of approximately 17.88 acres at the northeast of the intersection of North Powers Boulevard and South Carefree Circle. The District is authorized to provide the acquisition of improvements, construction of improvements, operation and maintenance of parking facilities, roadways, lighting, driveways, public utilities, and landscaping.
In 2027, the District intends to increase the debt service mill levy from 53.703 to 57.968 mills, and the operation and maintenance mill levy from 1.074 to 1.159 mills. Aside from the changes to mill levies, the District held an election on November 4th of 2025 and approved the waiver of the 5.25% property tax limit. The District’s next regular election is scheduled for May 4, 2027.While the District issued de...
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