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File #: 21-400    Version: Name:
Type: Resolution Status: Passed
File created: 6/30/2021 In control: City Council
On agenda: 10/26/2021 Final action: 10/26/2021
Title: Approval of the Proposed 2022 Operating Plan and Budget for the Interquest North Business Improvement District Presenter: Carl Schueler, Comprehensive Planning Manager
Attachments: 1. 2022 Operating Plan and Budget - Interquest North BID(6215590.1) Rev

Title
Approval of the Proposed 2022 Operating Plan and Budget for the Interquest North Business Improvement District

Presenter:
Carl Schueler, Comprehensive Planning Manager

Body
Summary:
The Interquest North 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 2022 Operating Plan and Budget for the BID.

The Operating Plan and Budget for this BID anticipates continuing development and public improvement activity within this BID, along with corresponding additional draws on this BID's Series 2020 bond issuance.

This BID provided a revised version of their 2022 Operating Plan to clarify/update the following; paragraph 1.D Ownership of Property or Major Assets, which clarifies the property owned by the District; and paragraph 1.E Contracts and Agreements, the District entered into a maintenance Agreement with Nor'wood Limited, Inc. for the District's property and easement areas.

Background:
The BID boundaries were established pursuant to an election in 2004, with an additional property inclusion approved by City Council in 2007. In 2016 City Council approved the exclusion of 1.2 acres and in 2017 an additional 13.151 acres was approved for exclusion, both of which were being developed for residential purposes and was no longer statutorily eligible to remain in the District. The District's elected board is comprised of individuals associated with Nor'wood Development Group. The board currently has one vacancy which the District has noted may be filled with an appointment in 2022. The District anticipates continued public improvement construction and the provision of operations and maintenance services in 2022, including, but not limited to, parking and street maintenance and operations, including snow removal, landscaping, stormwater, marketing, common area maintenance, and security services as ne...

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