Title
A Resolution of the City Council of Colorado Springs, Colorado Approving the Proposed 2027 Operating Plan and Budget for the MW Retail Business Improvement District.
Located in Council District #6
Presenter:
Drew Foxx, Planner II, City Planning Department
Kevin Walker, Planning Director, City Planning Department
Body
Summary:
The MW Retail 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 has not previously imposed debt service or operations and will not impose this mill levy in 2027, but the operations and maintenance mill levy will remain the same in the next budget year at 10.740 mills. The District has issued debt to continue its public improvements in the developing District boundaries and bring in revenue through developer advances and Public Improvement Fees (PIF). These improvements are expected to continue in 2027.
Background:
This District’s initial boundaries were established when this BID was created in 2019. This BID is located within the overlying existing Woodmen Heights Metropolitan District No. 3 and includes approximately 18.6 acres. The District is generally located southeast of the intersection of Marksheffel Road and Woodmen Road. The purpose of the District is to financing, acquisition, construction, completion, installation, replacement, and/or operation and maintenance of all the services and public improvements allowed under Colorado law for Business Improvement Districts.
It is anticipated that the District will continue to be engaged in development activities in 2027. These improvements were further contemplated and enabled by the District recent amendment to the 2025 Operating Plan (Resolution No. 99-25) which corrected the financial plan to add additional capacity for a future debt issuance. The Dist...
Click here for full text