Title
A Resolution of the City Council of Colorado Springs, Colorado Approving the Proposed 2026 Operating Plan and Budget for the First and Main Business Improvement District.
Related Files: N/A
Council District #6
Presenter:
Allison Stocker, Senior Planner, City Planning Department
Kevin Walker, Planning Director, City Planning Department
Body
Summary:
The First and Main 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.
The District will increase its mill levy from 1.053 mills to 1.074 mills for operations and decrease the Debt Service mill levy from 52.652 mills to 53.703 Other than the mill levy change, the Operating Plan and Budget for this BID includes no significant anticipated activities or changes other than District administration and payment of outstanding bonds in 2026.
Background:
The boundaries of this development-specific BID were established pursuant to an election in 2003 and were modified in 2009. This District's elected board is comprised of individuals associated with Nor'wood Development Group. The District consists of approximately 17.88 acres at the northeast of the intersection of North Powers Boulevard and South Carefree Circle. The District is authorized to provide the acquisition of improvements, construction of improvements, operation and maintenance of parking facilities, roadways, lighting, driveways, public utilities, and landscaping.
In 2026, the District intends to increase the debt service mill levy from 52.665 to 53.703 mill, and the operation and maintenance mill levy from 1.053 to 1.074 mills. Aside from the changes to mill levies, the District does plan to hold an election on November 4th to assess whether eligible electors wish to approve the waiver of the 5.25% property tax limit. No other elections or major...
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