Title
A Resolution of the City Council of Colorado Springs, Colorado Approving the Proposed 2027 Operating Plan and Budget for the Gold Hill North Business Improvement District.
Related Files: N/A
Located in Council District #3
Presenter:
Drew Foxx, Planner II, City Planning Department
Kevin Walker, Planning Director, City Planning Department
Body
Summary:
The Gold Hill 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 Operating Plan and Budget for this District states that the District will continue to be engaged in improvements planning in 2026 and 2027, improvements continue to be under construction such as grading, storm, sanitary sewer, landscaping, streets and alleys. The costs of these improvements will be allocated between the District and Gold Hill North Metropolitan Districts Nos. 1 & 2. The District will certify an operations and maintenance mill levy of 11.153 mills for 2027 and 55.769 mill levy toward debt service. The District does not anticipate issuing Debt in 2027 and does anticipate developer funding for initial revenue sources and thereafter revenues derived from property taxes and potentially from public improvement fees if imposed by the Board. No additional boundary changes are anticipated in 2027.
Background:
The District was organized in 2021, a special election for the District, consisting of debt and related issues and questions was held on November 2, 2021. The District is governed by an elected board of directors. The boundaries of this BID encompass about 52.346 acres initially; however, the District has had several inclusions and exclusions over recent years bringing the new acreage of the District to approximately 50.648 acres. The District is located southeast of the intersection of Interstate 24 and South 2...
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