Title
A Resolution of the City Council of Colorado Springs, Colorado Approving the Proposed 2027 Operating Plan and Budget for the First and Main North Business Improvement District.
Located in Council District #6
Presenter:
Drew Foxx, Planner II, Planning Development
Kevin Walker, Planning Director, Planning Development
Body
Summary:
The First and Main 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.
In 2026, the District imposed a mill levy of 1.074 mills for operations and maintenance expenses and a debt service mill levy of 53.703 mills. Both mill levies will be increased in 2027, with debt service being raised to 58.000 mills and operations and maintenance set to1.160. Other than the mill levy change the Operating Plan and Budget for this BID includes no significant anticipated activities or changes. In 2027, the District is contemplating activities focused on financing, acquisition, construction, completion, installation, replacement, as well as operation and maintenance of services and public improvements. It should be noted that First & Main BID No. 2 operates and maintains parking facilities, roadways, lighting, driveways, public utilities, and landscaping on behalf of First and Main North Business Improvement District.
Background:
The boundaries of this development-specific BID were established pursuant to an election in 2004. This BID has an elected board, which is comprised of individuals associated with Norwood Development Group. 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. The District currently owns certain street improvements, parking facilities, water impr...
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