Title
First Amendment to Intergovernmental Agreement for the Pikes Peak Regional Development Review Center
Presenter:
Henry Martin, Support Services Division Manager
Benjamin Bolinger, Corporate Division Chief
Body
Summary:
The proposed amendment to the IGA clarifies the ownership and use of the Regional Building Center following the repayment of the original certificates of participation in 2023.
Background:
The City of Colorado Springs (“City”), El Paso County (“County”), and the Pikes Peak Regional Building Department (“RBD”) are the joint owners of the Regional Building Center. The Regional Building Center was constructed as a joint project and houses RBD, County Planners, the City’s Development Review Enterprise and numerous other offices affiliated with the City and County.
The Regional Building Center was constructed using certificates of participation, which were repaid over a twenty year period. The final payment was made in December of 2023. In order to secure the certificates of participation, title to the Regional Building Center has been held in the name of the El Paso County Facilities Authority. The proposed amendment would provide for title to be held jointly by the City, County, and RBD based upon the percentage contributions to repaying the certificates of participation. The proposed amendment also contains provisions for the joint operation and maintenance of the building.
Previous Council Action:
The original IGA was approved and entered into in 2003.
Financial Implications:
The City previously appropriated money each year for the repayment of the certificates of participation. Future appropriations will fund building operations and maintenance. The City share of building maintenance and operations is anticipated to be $325,189.00 in 2025.
City Council Appointed Board/Commission/Committee Recommendation:
N/A
Stakeholder Process:
Representatives of the City, County, and RBD have jointly negotiated and drafted the amendment.
Alternatives:
Until a revised IGA is agreed upon and approved, ownership of the building is held in the name of the El Paso County Public Facilities Authority and is operated pursuant to a series of leases and subleases under the financing arraignment.
Recommended Action
Proposed Motion:
Move to approve a First Amendment to Intergovernmental Agreement for the Pikes Peak Regional Development Review Center.
Summary of Ordinance Language
N/A