Title
A Resolution Appropriating Funds in the Amounts of, and for the Purposes Set Forth Below, for the Colorado Springs Downtown Development Authority in Colorado Springs Colorado, for the 2018 Budget Year
Presenter:
Charae McDaniel, Chief Financial Officer
Body
Summary:
City Council approval of the attached resolution is required to appropriate funds for the 2018 budget of the Colorado Springs Downtown Development Authority (DDA) as required by State statute.
Previous Council Action:
City Council approved creation of the DDA in 2006 and 2007 (Ordinance Nos. 06-135 and 07-15). City Council approved the 2018 DDA Budget on October 24, 2017.
Background:
Refer to immediately preceding agenda item concerning certification of the mill levy for this DDA.
Financial Implications:
Refer to immediately preceding agenda item concerning certification of the mill levy for this DDA.
Board/Commission Recommendation:
At its meetings in November/December 2017, the DDA Board of Directors will take action on a Resolution requesting that City Council (1) certify a mill levy of five (5.000) mills on real and personal property within the boundaries of the DDA for taxes payable in 2018, and (2) adopt a resolution to appropriate funds for the benefit of the DDA for 2018.
Stakeholder Process:
N/A
Alternatives:
N/A
Recommended Action
Proposed Motion:
Move to approve the attached resolution to appropriate funds for the 2018 budget for the Colorado Springs Downtown Development Authority.
Summary of Ordinance Language
N/A