Title
An Ordinance of the City Of Colorado Springs Dissolving The Old Colorado City Downtown Development Authority
Presenter:
Emily Evans, City Council Administrator
Brandy Williams, Councilmember District 3
Roland Rainey, Councilmember District 6
Body
Summary:
The ordinance dissolves the Old Colorado City Downtown Development Authority. The dissolution is authorized under C.R.S. ? 31-25-803 following a determination that the Authority has no outstanding indebtedness.
Background:
City Council adopted Ordinance No. 24-87 on August 27, 2024, establishing the Old Colorado City Downtown Development Authority ("the Authority") and referring its creation to electors within the proposed district. A special election held November 5, 2024, approved the Authority's formation. Since its creation, however, a mill levy was not approved, and the Authority has had no consistent funding, accounts, or financial documentation. The Authority advised the City that it has no outstanding indebtedness, permitting dissolution pursuant to C.R.S. ? 31-25-803.
Previous Council Action:
Regular City Council Meeting, June 24th, 2024 (first reading)
Regular City Council Meeting, August 13th, 2024 (second reading)
Financial Implication
None. The Authority has no outstanding indebtedness, no bank accounts, and no financial activity.
City Council Appointed Board/Commission/Committee Recommendation:
Ordinance dissolving the Old Colorado City Downtown Development Authority (OCC DDA).
Stakeholder Process:
City Council, City Council OCC DDA Board Liaison, Legislative Services, Urban Renewal Authiorty Director, Planning Staff, City Attorney's Office and OCC DDA Board Chair and Co-Chair
Alternatives:
N/A
Recommended Action
Proposed Motion:
Move to approve an ordinance dissolving the Old Colorado City Downtown Development Authority.
Summary of Ordinance Language
The ordinance dissolves the Old Colorado City Downtown Development Authority pursuant to C.R.S. ...
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