Title
A Resolution of the City Council of Colorado Springs, Colorado Approving the Proposed 2027 Operating Plan and Budget for the Powers & Woodmen Commercial 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 Powers & Woodmen Commercial 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 2027, the debt service mill levy will stay at 17.00 mills, and the operations and maintenance mill levy will have a minor increase from 1.074 mills to 1.158 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.
Background:
The boundaries of this development-specific BID were established pursuant to an election in 2003. The District does not anticipate any boundary changes in 2027, however, by State law, any future district inclusions or exclusions must be approved by City Council. This BID has an elected board, comprised of individuals associated with the Nor’wood Development Group. The BID is authorized to provide the acquisition of improvements, construction of improvements, operation and maintenance of parking facilities, roadways, lighting, driveways, public utilities, and landscaping. No new commercial development is proposed in 2027.
No changes are proposed to the District’s boundaries, maximum debt authorization, governance structure, and does not anticipate any board vacancies in 2027.
This Operating Plan and Budget is provided in a format consistent with the standard template approved by Council in August 2022 for these documents.
Previous Council Ac...
Click here for full text