Title
A Resolution of the City Council of Colorado Springs, Colorado Approving the Proposed 2024 Operating Plan and Budget for the Barnes & Powers South Business Improvement District
Presenter:
Peter Wysocki, Director, Planning and Community Development
Michael Tassi, Assistant Director, Planning and Community Development
Body
Summary:
The Barnes & Powers South 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 2024 Operating Plan and Budget for the BID.
The proposed mill levy for the BID in 2024 is 19.748 mills (1.039 mill for general expenses and 18.709 mills for debt service), this is a change of .748 mills as compared to the mill levy certified for 2023. Other than the mill levy change the Operating Plan and Budget for this BID includes no significant anticipated activities or changes. District activities in 2024 will focus on administration and servicing its remaining debt.
Background:
The boundaries of this development-specific BID were established pursuant to an election in 2004. This BID has an elected board comprised of individuals associated with Nor'wood Development Group. The District is authorized to provide the acquisition of improvements, construction of improvements, operation and maintenance of parking facilities, roadways, lighting, driveways, public utilities, and landscaping. With the exception of the small parcel included in 2014, the balance of this District is owned by a single retail use (Costco). The District does not anticipate additional infrastructure work for commercial development in 2024. Barnes & Power North Business Improvement District provides maintenance and operation services on behalf of the District.
This Operating Plan and Budget is provided in format consistent with the standard template approved by Council in August 2022 for these documents.
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