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File #: 25-315    Version: Name: MW Retail Business Improvement District - Service Plan Amendment
Type: Resolution Status: Agenda Ready
File created: 6/9/2025 In control: City Council
On agenda: 7/22/2025 Final action:
Title: A Resolution of the City of Colorado Springs Approving an Amended 2025 Operating Plan and Budget for the MW Retail Business Improvement District Presenter: Allison Stocker, Senior Planner, Planning Department Kevin Walker, Planning Director, Planning Department
Sponsors: Planning Department
Attachments: 1. MWRetail_BID_Service_Plan_Amendment_Resolution, 2. Exhibit_A_MWRetail_BID_2025_Amended_Operating_Plan, 3. 2025 Amended Operating Plan and Budget - MW Retail BID (Redlines Updated 5-27-25)(10014362.2), 4. Resolution_167-22_2023_Operating_Plan_&_Budget, 5. Exhibit_B_2025_Updated_Financial_Plan, 6. Exhibit_E_2023_Operating_Plan_Public_Improvements_&_Financial_Plan, 7. 2025_Current_MWRetail_Operating_Plan_&_Budget, 8. Executive Summary - MW Retail Amended 2025 Operating Plan and Budget(10032560.3), 9. Staff_MWRetail_BID_Amendment_Presentation
Title
A Resolution of the City of Colorado Springs Approving an Amended 2025 Operating Plan and Budget for the MW Retail Business Improvement District

Presenter:
Allison Stocker, Senior Planner, Planning Department
Kevin Walker, Planning Director, Planning Department


Body
Summary:
This is a request to approve an amended 2025 Operating Plan for the MW Retail Business Improvement District ("District"). The District is requesting an amendment of language in the 2025 Operating Plan in order to support the issuance of future debt. While the timing and amount of this future bond issuance is currently being contemplated, the District anticipates issuing this debt in 2025 or in 2026.

This item was presented for action on the July 8th, 2025, but at the request of Council this item was postponed to July 22nd, 2025 to allow additional time for review.

Previous Council Action:
City Council originally approved formation of this BID in 2019 (Ordinance No. 19-62) and has approved the BID Operating Plan and Budget annually since its formation.

In 2022, City Council approved an ordinance to exclude a single parcel (Lot 1 of Tallgrass at the Ranch) that is now platted and planned for residential purposes (Ordinance No. 22-19) and include certain property (Tallgrass at the Ranch Lot 2 and Tract B) into the boundaries of the District (Ordinance No. 22-20).

Subsequently in 2022, City Council approved the issuance of special revenue bonds by the District in an amount not to exceed $5,000,000 for a project located at the intersection of Woodmen and Marksheffel Roads (Resolution 41-22).

Council approved the District's 2023 Operating Plan which included an Exhibit E that described a summary of public improvements supporting City Council authorization to issue debt of up to $10,000,000 in conformance with 7-100 of the City Charter (Resolution No. 167-22), which a portion of which was issued in 2024. This Special Revenue Bond was issued on October 31st, 2024...

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