Title
Ordinance No. 22-21 amending Ordinance No. 18-77 to change the name of the United States Air Force Academy Visitor's Center Business Improvement District to TrueNorth Commons Business Improvement District
(Legislative)
Presenter:
Hannah Van Nimwegen, Senior Planner, Planning & Community Development
Carl Schueler, Comprehensive Planning Manager, Planning & Community Development
Peter Wysocki, Planning & Community Development Director
Body
Summary:
This ordinance changes the name of the United States Air Force Academy (USAFA) Visitor's Center Business Improvement District (BID) to "TrueNorth Commons Business Improvement District." No other aspects of the creation, structure, governance, operations or budget of this BID would be impacted by this action.
This item as not discussed at a Council Budget Committee, but was introduced at a Council Work Session on April 11, 2022, at which time there were no questions or requests for additional information. However, Councilman Helms did provide background on the origin of the name TrueNorth, and it was clarified that the name of visitors center itself would not be changed by this action.
Background:
This ordinance formally changes the name of this BID. The board of this district desires to market and brand the associated development as "TrueNorth Commons." A change removing the United States Air Force Academy from this BID name is a requirement of the lease agreement with the Air Force. A transmittal letter and Resolution of the Board of Directors for the BID are included as attachments to this memo certifying the district's desire to change the district's name to meet requirements of third-party agreements and recent bond issuances.
This BID was organized in 2018 by Council ordinance. Beginning in 2020, City Council authorized this BID to issue debt with a pledge of revenues from other entities including an associated urban renewal area pledge.
Financial Implications:
N/A
Board/Commission ...
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