Title
Introduction of the Downtown Development Authority (DDA) Budget, and Business Improvement District (BID) Operating Plans and Budgets for 2015
Body
From:
Kara Skinner, Chief Financial Officer
Peter Wysocki, Planning and Development Director
Carl Schueler, Planning Manager - Comprehensive Planning
Summary:
This briefing introduces the submitted budget for the DDA as well as the operating plans and budgets for the City's ten (10) BIDs, as required by Colorado Revised Statutes. Separate memos will be presented for action on each of these agenda items as part of the Regular meeting agenda for October 28, 2014.
Previous Council Action:
Council approves these operating plans and budgets for BIDs and the budget for the DDA annually. In August 2014, Council adopted a standard form template for BID plans. After first authorizing their creation, Council periodically takes actions concerning these entities related to activities such as debt issuance, governance changes, and boundary adjustments.
Background:
The eleven (11) referenced documents are attached for review by City Council.
? Colorado Springs Downtown Development Authority
? Greater Downtown BID
? Interquest North BID
? Interquest South BID
? First and Main BID
? First and Main No. 2 BID
? First and Main North BID
? Briargate Center BID
? Barnes and Powers North BID
? Barnes and Powers South BID
? Powers and Woodmen Commercial BID
Highlights for 2015:
Governance - The DDA and the Downtown BID have City Council- appointed boards of directors with categories of representation identified in their authorizing ordinances. The other nine BIDs are development specific, and have elected boards. In 2014, Council approved a change in the governance structure for the First and Main and First and Main No. 2 BIDs in order to allow them to convert from appointed to elected boards.
2015 Mill levies and Fees - With two exceptions, these entities int...
Click here for full text