Title
A Resolution of the City Council of Colorado Springs, Colorado Approving the Proposed 2025 Operating Plan and Budget for the Greater Downtown Colorado Springs Business Improvement District
Presenter:
Allison Stocker AICP, Planner II, Planning Department
Kevin Walker, Interim Director, Planning Department
Body
Summary:
The Greater Downtown Colorado Springs 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 2025 Operating Plan and Budget for the BID.
The Operating Plan and Budget for this BID anticipates no significant changes from the prior year, other than setting aside a small contingency from the reserves to be used in the event of extraordinary circumstances such as capital replacement or snow removal beyond the seasons average.
Background:
The first BID, the Pikes Peak Avenue BID, was adopted and approved in 1994. Following two voter-approved expansions, the current BID - The Greater Downtown Colorado Springs BID - was organized in 2001. It encompasses approximately 32 city blocks and is located inside of the more extensive Colorado Springs Downtown Development Authority (DDA) boundaries. A limited inclusion of properties along the block of 500 South Tejon and 600 South Tejon, east and west, is carried forward as a potential future activity in this plan.
The District is authorized to exercise all the powers, functions, and duties specified in the Business Improvement District Act. Its board of directors is appointed by City Council in accordance with categories of representation (e.g. type of business) as outlined in the establishing ordinance. The majority of this BID’s budget is devoted to public space management and marketing.
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 originally approved formation of a predecessor of this BID in 1994 and has subsequently approved two inclusions of property (Ordinance No. 01-156 establishes the current boundaries). City Council has approved the BID’s Budget and Operating Plan annually since its formation.
This item was introduced in a City Council Work Session on October 7, 2024.
Financial Implications:
The proposed mill levy for the BID to be collected in 2024 is 5.000 mills, which is unchanged from 2024. 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.
The District does not currently have any outstanding developer advances.
City Council Appointed Board/Commission/Committee Recommendation:
N/A
Stakeholder Process:
N/A
Alternatives:
N/A
Recommended Action
Proposed Motion:
Move to approve the Resolution approving the Proposed 2025 Operating Plan and Budget for the Greater Downtown Business Improvement District.
Summary of Ordinance Language
N/A