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 No. 2.
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 No. 2 (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 intends to decrease the operations and maintenance mill levy from 1.040 mills to 0.0957 in 2026. Additionally, the debt service mill levy will be increased marginally from 52.480 to 53.703 mills. 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. Public improvements in 2026 are contemplated but would be limited.
Background:
The boundaries of this development-specific BID were established pursuant to an election in 2008 and were modified in 2018. This District's elected board is comprised of individuals associated with Nor'wood Development Group. First & Main No. 2 encompasses approximately forty-five (45) acres southeast of the intersection of North Powers Road and North 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.
The District entered into an Intergovernmental Agreement in 2014 with First and Main Business Improvement District. The intergovernmental revenue represents transfers from First and Main Business Improvement District to provide funding for the overall administr...
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