Title
A Resolution of the City Council of Colorado Springs, Colorado Approving the Proposed 2026 Operating Plan and Budget for the First and Main North 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 North 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.
In 2025, the District imposed a mill levy of 1.042 mills for operations and maintenance expenses and a debt service mill levy of 52.117 mills. Both mill levies will be increased marginally in 2026, with debt service being raised to 53.703 mills and operations and maintenance set to 1.074. Other than the mill levy change the Operating Plan and Budget for this BID includes no significant anticipated activities or changes. In 2026 the District's activities will focus on district administration and payment of its existing bonds, as well as operating and maintaining parking facilities, roadways, lighting, driveways, public utilities and landscaping services.
Background:
The boundaries of this development-specific BID were established pursuant to an election in 2004. This BID has an elected board, which is comprised of individuals associated with Nor'wood Development Group. 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 currently owns certain street improvements, parking facilities, water improvements and drainage improvements.
This Operating Plan and Budget is provided in a format consistent with the standard template approved by Council in Au...
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