Title
An Ordinance including certain property into the boundaries of the Creekwalk Marketplace Business Improvement District
(Legislative)
Presenter:
Kyle Fenner, Senior Planner, Planning and Neighborhood Services
Body
Summary:
This is a request for approval of an ordinance to include two (2) parcels, totaling 1.29 acres, into the boundaries of the Creekwalk Marketplace Business Improvement District (the "District"). The City received a Petition for an Inclusion of Properties as executed by the owners.
Per Colorado State Statute, property included in a Business Improvement District (BID) does not need to be contiguous or adjacent. These inclusions will bring additional properties into the District boundaries on behalf of the owner of those properties, SNA Equities, LLC. According to the cover letter, both properties are related to the ongoing redevelopment of the South Nevada area and to the anticipated involvement of this BID in particularly. More specifically, the applicant states in their letter that "The District and the owner are anticipating potential future public improvements" for these two parcels and that, "inclusion into the District's boundaries will facilitate those activities." Future public improvements will be in conjunction with redevelopment of the two parcels but will likely include: streetscape, access/street, storm and water/wastewater improvements.
The two parcels proposed for inclusion are located just under 0.5 miles from the northern most parcel currently located in the BID (see Property Inclusion Map). Further, all other parcels included in this BID are within the Urban Renewal boundary. There is no guidance in either City Policy or State Statute related to the proximity of the inclusion parcels to other parcels in the BID.
Background:
BIDs are created under Colorado Statute and City Policy to finance and/or maintain certain public improvements in non-residential areas, utilizing a property tax mill levy as their prim...
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