Title
A Resolution of the City Council of Colorado Springs, Colorado Approving the Proposed 2026 Operating Plan and Budget for the GSF 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 GSF 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.
The Operating Plan and Budget for this BID anticipates the District will primarily be engaged in early development and public improvement planning activities in 2026, and does not plan on certifying a mill levy for collection in 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 District is governed by a five-member elected Board of Directors. The boundaries of this BID encompass about 23 acres just east of Downtown Colorado Springs. It is anticipated that when the properties are eventually redeveloped that the portions of the District will be included or excluded. By State law, any future district inclusions or inclusions must be approved by City Council. The overall metropolitan district/BID structure is similar to the Southwest Downtown (aka Park Union) project, as the site is overlapped with GSF Metropolitan Districts. By state law, BIDs cannot assess residential properties for property taxes.
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 expense. However, the District does not anticipate certifying a mill levy in 2026. Additionally, this BID proposes to make use of public improvement fee (PIF) revenues as...
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