Title
A Resolution of the City Council of Colorado Springs, Colorado Approving the Proposed 2026 Operating Plan and Budget for the Catalyst Campus Business Improvement District.
Related Files: N/A
Council District #3
Presenter:
Allison Stocker, Senior Planner, City Planning Department
Kevin Walker, Planning Director, City Planning Department
Body
Summary:
The Catalyst Campus 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 2026 Operating Plan and Budget for the BID.
This BID anticipates initiating the construction of public improvements in 2026 which may include walking paths and sidewalks perimeter lighting, and security enhancements. The District does not propose any debt, changes to boundaries or mill levies, or any other major changes for 2026.
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 boundaries of this BID encompass approximately 15.545 acres located east of Downtown Colorado Springs. A number of these parcels are discontinuous, but all land is generally located between East Pikes Peak Avenue and East Costilla Street. The District anticipates inclusion and exclusion requests as development within the District occurs. By State law, any future district inclusions or exclusions must be approved by City Council.
This Operating Plan and Budget allows for a mill levy cap of up to 50.000 mills for debt service and up to 10.000 Mills for general operations and administrative expenses. However, the District will not be certifying a mill levy for collection in 2026. The District currently receives developer funding as its primary source of revenue and notes they may also be the beneficiary of revenues derived from a privately imposed public improvement fee (PIF). The amount of these PIFs is not specified at this time and is not budgeted in 2026. No debt has been issued by the District and none is planned for 2026.
A number of changes were made to the District’s Board during 2025. These changes included the reelection of two members on May 6, 2025. Due to another vacancy that was not filled through the May election, the Board sought City Council approval for the appointment of a third Board member in September. This action was completed through Ordinance No. 25-73. No other elections or appointments are anticipated for 2026.
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 Action:
City Council approved creation of this BID in 2021 (Ordinance No. 21-75). Since the creation of the District, the only time the District has had to return to Council for reasons other than annual reporting activities was to fill a vacancy on the District’s Board via Ordinance No. 25-73.
This item was introduced in a City Council Work Session on October 13, 2025.
Financial Implications:
The District does not have any existing debt and does not anticipate issuing debt in 2025. The combined maximum debt authorization for this BID is $90,000,000 in aggregate with Catalyst Campus Metropolitan Districts Nos. 1 & 2. The District will not be certifying a mill levy in 2025 for collection in 2026.
The District has estimated an outstanding developer advance balance at the end of 2024 totaling $292,201, which accrues interest at a rate of 8% for operating and maintenance advances and 8% for advances related to the public improvements. By the end of 2026, this total is anticipated to reach $687,937 with principal and interest. The 2026 budget includes a developer advance of $50,000 for operating expenditures and $250,000 for capital improvements.
As a separate legal entity, the financial activities of the BID are separate from those of the City. Its financial obligations are specific to the properties included in the BID and do not constitute an obligation of the City.
City Council Appointed Board/Commission/Committee Recommendation:
The BID Board of Directors recommends City Council’s approval of the 2026 Operating Plan and Budget.
Stakeholder Process:
N/A
Alternatives:
N/A
Recommended Action
Proposed Motion:
Approve the Resolution approving the proposed 2026 Operating Plan and Budget for the Catalyst Campus Business Improvement District
Summary of Ordinance Language
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