Title
Ordinance No. 19-26 including certain property into the Southwest Downtown Business Improvement District
(Legislative)
Presenter:
Carl Schueler, Comprehensive Planning Manager, Planning & Community Development
Body
Summary:
This is a request for approval of an ordinance to include a total of 9 (nine) tax parcels into the boundaries of the Southwest Downtown Business Improvement District (the "District"). The City received two related petitions for inclusion of these properties, executed by the owners. These properties are contiguous with the current BID boundaries, and these proposed inclusions would be consistent with the original intent of this BID when created, as well as with the most recent Operating Plan and Budget for this BID as approved by Council.
Previous Council Action:
The BID with its initial operating plan and budget were established by Ordinance 17-94 that was adopted by Council and made effective on October 10, 2017. The most recent Operating Plan and Budget for this BID was approved by Council in October of 2018.
On April 23, 2019, this Ordinance was approved on first reading on the Consent Calendar.
Background:
BIDs are created under Colorado Statute and City Policy to finance and/or maintain certain public improvements in non-residential areas, utilizing a property tax mill levy as their primary revenue source. BIDs are separate legal entities into the City, but their budgets and operating plans must be approved annually by the City.
It should be noted that City Council has also approved a service plan for two metropolitan districts that the developer of this larger project expects to use for the residential parts of this project. Although other properties within this BID are also included in the boundaries of Southwest Downtown Metropolitan District No. 2, this BID inclusion area currently is not. Eventually, a unique aspect of this project may be a vertical separation of district geography wherein, for example, ...
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