Title
A Resolution of the City Council of Colorado Springs, Colorado Approving the Proposed 2026 Operating Plan and Budget for the Interquest South Business Improvement District
Related Files: N/A
Council District #2
Presenter:
Allison Stocker, Senior Planner, City Planning Department
Kevin Walker, Planning Director, City Planning Department
Body
Summary:
The Interquest South 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 2026 Operating Plan and Budget for the BID.
The District imposed 1.00 mill for operations and maintenance and 5.00 mills for debt service in 2024 and in 2025. These mill levies are to carry over into 2026. There are no additional debt issuances, boundary changes, or planned improvements. This BID will continue servicing outstanding debt and perform operations and maintenance functions.
Background:
The boundaries of this development-specific BID were initially established pursuant to an election in 2004. The District contains just over seventy (70) acres located southwest of the intersection of Voyager Boulevard and Interquest Parkway. This BID has an elected board, comprised of developers associated with this property. The District is authorized to provide the acquisition and financing of improvements, construction of improvements, operation and maintenance of parking facilities, roadways, lighting, driveways, public utilities, and landscaping.
The District intends to maintain 2025's mill levies into the 2026 budget year. These levies will consist of 5 mills for debt service and 1 mill for operations and maintenance. These mills are in addition to the 1.5% Public Improvement Fee (PIF) that applies within the District. This Operating Plan and Budget notes that the District completed the construction of public improvements in 2022 therefore does not anticipate developmen...
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