Title
Request to set November 10, 2026 as the Public Hearing date for consideration of adopting the proposed 2027 Colorado Springs Briargate General Improvement District 2021 Budget and to advertise as required by law
Presenter:
Charae McDaniel, Chief Financial Officer
Body
Summary:
City Council sits as the Board of Directors (Board) of the Colorado Springs Briargate General Improvement District 2021 (District). In accordance with State statute, it is necessary for the Board to make a motion to establish November 10, 2026 as the Public Hearing date for consideration of the proposed 2027 District budget. Following that November hearing, the Board will certify the District mill levy and then adopt and appropriate the final budget. A copy of the proposed budget for the 2027 calendar year for the District is attached. This proposed budget is submitted as information only and requires no action on the part of the Board at this time.
The attached budget proposes a total appropriation of $2,248,833 to provide for the maintenance of certain public improvements of general benefit to the residents of the district. The public improvements may include parks, open space, trails, bicycle paths, landscaping, fencing, pillars, medians, entry islands, utility rights-of-way, irrigation facilities and associated water system improvements, theme areas and neighborhood theme signage located primarily, but not exclusively, on and along primary streets within the district. Sources of funds for the District are property taxes of $1,760,229, specific ownership taxes of $165,990, interest income of $50,000, and an estimated beginning 2027 fund balance of $726,199. Property tax revenue is based upon a mill levy of 4.409 mills and preliminary assessed valuation of $405,315,040. The 2026 levy of 4.409 mills for taxes payable in 2027 is unchanged from the 2026 budget.
Background:
At the November 2, 2021 elections, voters approved the organization of this GID and the im...
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