Title
A Resolution of the City Council of Colorado Springs, Colorado Approving the Proposed 2025 Operating Plan and Budget for the TrueNorth Commons Business Improvement District
Presenter:
Allison Stocker AICP, Planner II, Planning and Community Development
Kevin Walker, Interim Director, Planning and Community Development
Body
Summary:
The TrueNorth Commons 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 2025 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. An election was set for May 2024 to fill two existing vacancies on the Board, but due to insufficient persons stating interest in candidacy, the May 2024 election was canceled and the existing Board members continued in their respective roles. The District does have two Board vacancies that they anticipate filling at the next election in May 2025.
The District has completed the United States Air Force Academy Visitors Center (USAFA) and was conveyed to the USAFA in 2024. Additionally, the District has completed a majority of the infrastructure improvements for the Visitors Center and has also completed infrastructure improvements related to the retail parcel.
Background:
The District was organized in 2018, a special election for the District, consisting of debt and related issues and questions was held on November 6, 2018. The boundaries of this development-specific BID were established initially to include 1.705 acres in the Briargate area that are located within the boundaries of the City. The actual project site was subsequently annexed into the boundaries of the City in March 2019, and included in this BID, after which the original property was excluded. This BID has a 5-member elect...
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