Title
A Public Hearing on the Budget for the Colorado Springs Briargate General Improvement District 2021, Colorado Springs, Colorado, for the Calendar Year Beginning on the First Day of January 2024 and Ending on the Last Day of December 2024
Presenter:
Charae McDaniel, Chief Financial Officer
Body
Summary:
Council sits as the Board of Directors of the Colorado Springs Briargate General Improvement District 2021 (GID). In November of 2021, voters approved the organization of this GID and the imposition of a not more than 4.409 mill levy. This GID has assumed all pertinent powers and functions of the Briargate Special Improvement Maintenance District, which will have the mill levy set to zero (0) in 2023 for taxes payable in 2024 by separate resolution of City Council, which is unchanged from the 2023 budget.
In accordance with State statute, it is necessary for the Board of Directors of the Briargate General Improvement District 2021 (GID) to conduct a public hearing and, at its conclusion, to pass resolutions to fix and certify the 2023 mill levy, adopt the proposed 2024 budget, and appropriate the funds for the 2024 budget year. Each resolution will be presented separately for a motion by Council as the Board. A copy of the proposed 2024 budget was provided to the Board of Directors on October 10, 2023. A boundary map of this GID is attached for reference.
The attached budget proposes a total appropriation of $1,922,609 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 $1,928,...
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