Title
Approval of the Proposed 2022 Operating Plan and Budget for the Interquest Town Center Business Improvement District
Presenter:
Carl Schueler, Comprehensive Planning Manager
Body
Summary:
The Interquest Town Center 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 2022 Operating Plan and Budget for the BID.
The Operating Plan and Budget for this BID anticipates no changes from the prior year related to mill levies, additional debt issuances or boundary changes, however, the District does have a Board vacancy that they anticipate filling in 2022. This BID will continue servicing outstanding debt, install public infrastructure and perform operations and maintenance functions.
Background:
The initial boundaries of this public improvement BID were established when this BID was created in 2017. The BID includes approximately 19 acres. No additional inclusion or exclusion requests are expected in 2022. Under State statute, any such inclusions must be approved by separate City Council ordinance.
This BID currently has one vacancy that they expect to fill in 2022. The District will be primarily concerned with the provision of public improvements and services within the boundaries of the District. The District is authorized to exercise all the powers, functions, and duties specified in the Business Improvement District Act. The District's operating plan indicates District does not currently own any real property.
This Operating Plan and Budget is provided in a format consistent with the standard template approved by Council in August 2014 for these documents.
The District anticipates funding the design, installation, or acquisition of additional public improvements during 2022, including street improvements, water and wastewater improvements, and transportation projects.
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