Title
A Resolution of the City Council of Colorado Springs, Colorado Approving the Proposed 2026 Operating Plan and Budget for the Catalyst Campus 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 Catalyst Campus 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.
This BID anticipates initiating the construction of public improvements in 2026 which may include walking paths and sidewalks perimeter lighting, and security enhancements. The District does not propose any debt, changes to boundaries or mill levies, or any other major changes for 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 boundaries of this BID encompass approximately 15.545 acres located east of Downtown Colorado Springs. A number of these parcels are discontinuous, but all land is generally located between East Pikes Peak Avenue and East Costilla Street. The District anticipates inclusion and exclusion requests as development within the District occurs. By State law, any future district inclusions or exclusions must be approved by City Council.
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 expenses. However, the District will not be certifying a mill levy for collection in 2026. The District currently receives developer funding as its primary source of revenue and notes they may also be the beneficiary of revenues derived from a privately imposed public improvement fee (PIF). ...
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