Title
A Resolution of the City Council of Colorado Springs, Colorado Approving the Proposed 2025 Operating Plan and Budget for the Powers & Woodmen Commercial Business Improvement District
Presenter:
Allison Stocker AICP, Planner II, Planning Department
Kevin Walker, Interim Director, 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 2025 Operating Plan and Budget for the BID.
In 2024, the District increased its mill levy from 1.000 mill to 1.039 mills for operations and from 25.000 mills to 25.985 mills for Debt Service. For 2025, the District anticipates imposing a mill levy of 1.046 mills for operations and maintenance, and a debt service mill levy of 17.00 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 2025, 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 2025.
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 formation of this BID in 2004 (Ordinance No. 04-...
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