Title
Ordinance No. 16-18 organizing the Creekwalk Marketplace Business Improvement District and providing for the Election of the Board of Directors.
Presenter:
Carl Schueler, Comprehensive Planning Manager, Planning and Community Development
Body
Summary:
This introduces a request to create a new BID to support redevelopment in the South Nevada area of the City. Formal City Council action on this item would occur beginning on January 26, 2016.
Previous Council Action:
No previous City Council action specific to the formation or consideration of the BID. However, in late 2015 Council approved an urban renewal plan and a municipal sales tax cooperation agreement for the urban renewal area.
Background:
BIDs are created under Colorado Statute and City Policy to finance and/or maintain certain public improvements in non-residential areas, primarily utilizing a property tax mill levy as the revenue source. By law, properties assessed as residential cannot be taxed for BID purposes.
These districts are separate legal entities from the City. However, their formation requires Council approval, and City Council must then annually approve their Operating Plan and Budget. These processes provide an opportunity for City Council to establish limits and parameters for operation to the districts beyond those included in State Statues. City Council adopted a Special District Policy ("Policy") in 2006. It establishes recommended limits regarding districts including metropolitan districts, BIDs and general improvement districts (GIDs) including mill levy caps. In 2014, Council adopted a standard template for BID operating plans and budgets. Together with state statutes, these documents are used as the standard with which to review new BIDs. It should be noted that the City has not created a new BID since 2008.
Legal publication of this hearing will be required along with mailed notice to any potentially included properties not part of ...
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