Title
Ordinance No. 21-75 organizing the Catalyst Campus Business Improvement District and appointing an initial board of directors.
(Legislative)
Presenter:
Carl Schueler, Planning Manager- Comprehensive Planning, Planning & Development Department
Peter Wysocki, Director of Planning and Community Development
Body
Summary:
This ordinance would create a Catalyst Campus Business Improvement District ("District"), appoint initial directors and approve an initial 2021-2022 Operating Plan and Budget subject to annual review and approval. This BID would finance public improvements costs and provide services for the proposed ongoing development redevelopment of the Catalyst Campus project and associated properties. The proposed BID properties are located just east of Downtown along and primarily south of Pikes Peak Avenue and west of Shooks Run. The petitioners propose to use a combination of this BID and two associated metropolitan districts to provide public financing and associated district services for this project area. Generally, commercial properties would be included within this BID with residential properties being included in one of the two metropolitan districts.
No deviations from the Special District Policy are being requested for this BID. Its initial Operating Plan and Budget conforms with the City's standard form template for BIDs.
Staff and applicant PowerPoints summarizing both this request and the associated metropolitan districts service plan are included with the preceding agenda item. Please also refer to the preceding metropolitan districts item for additional pertinent background,
This item was discussed by the City Council Budget Committee on July 27, 2021.
Background:
This BID would provide property tax-based public improvements financing and services for the proposed redevelopment of this site. The overall proposed district boundary area encompasses about 15.5 acres initially, with exclusions of property expected to occur a...
Click here for full text