Title
A Resolution of the City Council of Colorado Springs, Colorado Approving the Proposed 2026 Operating Plan and Budget for the Interquest Town Center Business Improvement District.
Related Files: N/A
Council District #2
Presenter:
Allison Stocker, Senior Planner, City Planning Department
Kevin Walker, Planning Director, City Planning Department
Body
Summary:
The Interquest Town Center 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 decreasing its mill levies in 2026. The District anticipates imposing 5.031 mills for operations and maintenance and 40.252 mills for debt service in 2025, and these mills will convert to 5.00 mills and 40.00 mills respectively in 2026. BID will continue servicing outstanding debt, install public infrastructure and perform operations and maintenance functions in the coming reporting year.
A revised Operating Plan and "Factsheet" were provided after the Work Session held on October 13, 2025. The only change made to these materials was removing the reference to a Board appointment for Paul Palmer who was not elected to the Board in 2025. No other changes were made to either the Operating Plan and Budget, or the "Factsheet".
Background:
The initial boundaries of the Interquest Town Center BID were established when this BID was created in 2017. The BID includes approximately 19 acres at the southeast corner of the intersection of Interquest Parkway and New Allegiance Drive. The District was created for the express purpose of financing, acquisition, construction, completion, installation, replacement and/or operation and maintenance of all the services and public improvements.
Other than the mill levy change, the District does not anticipate any additional debt is...
Click here for full text