Title
A Resolution Fixing and Certifying the 2026 Tax Levy for Taxes Payable in 2027 at 5.000 Mills for the Colorado Springs Downtown Development Authority in Colorado Springs, Colorado
Presenter:
Chelsea Gondeck, CEO, Downtown Partnership
Charae McDaniel, Chief Financial Officer
Body
Summary:
The Colorado Springs Downtown Development Authority (DDA) is a legal entity separate from the City of Colorado Springs. However, as required by State statute it is necessary for City Council to pass a resolution to fix and certify the mill levy for 2026 at 5.000 mills for taxes payable in the 2027 budget year. The 2026 levy of 5.000 mills is unchanged from the prior year mill levy.
The 2027 budget provides a total appropriation of $9,923,784 for programs, grant agreements, operations and overhead, professional services, and other expenditures. The estimated ending fund balance is projected to be $0.
Background:
The 11-member DDA board is appointed by City Council and includes representatives from a broad range of Downtown business types and property owners, along with a Council member. Currently, that member is Councilmember Williams.
Previous Council Action:
City Council approved creation of the DDA in 2006 and 2007 (Ordinance Nos. 06-135 and 07-15). In 2007 City Council passed a resolution adopting the Imagine Downtown Master Plan as the Plan of Development for the Authority. In 2015 City Council approved Ordinance No. 15-20 to include additional property. In 2016 City Council approved Resolution No. 116-16 adopting the Experience Downtown Master Plan and Plan of Development as the revised Plan of Development for the DDA. In August 2021 City Council approved Ordinance No. 21-64 redescribing the boundaries of the DDA to include certain additional property.
Financial Implications:
The proposed 2026 mill levy for the DDA for taxes payable in 2027 is 5.000 mills, which is unchanged from last year. As a separate legal entity, the financial a...
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