Title
Ordinance No. 15-20 amending Ordinance No. 07-15 to redescribe the Colorado Springs Downtown Development Authority so as to include certain additional property.
(Legislative Matter)
Body
From:
Peter Wysocki, Planning and Development Director, Planning and Development Department
Summary:
This introduces an agenda item to approve a request for inclusion of certain property into the Colorado Springs Downtown Development Authority ("CSDDA"). The property consists of approximately 14 parcels adjacent to the existing CSDDA boundary and located north and south of Pikes Peak Avenue, east of Shook's Run Park.
Previous Council Action:
The CSDDA was originally established in 2007, following approval by Council of an establishing Ordinance No. 07-15 and November 2006 election. In 2007 City Council adopted the City's Imagine Downtown Plan as the plan for the CSDDA. City Council annually adopts the budget for the CSDDA and periodically makes appointments to its governing board.
Background:
Downtown Development Authorities ("DDA") are created and operate under unique statutory authority (C.R.S. ? 31-25-801 et seq.) to perform certain activities within the "central business districts" of municipalities. There can only be one DDA in a city. DDAs are authorized to certify a property tax mill levy of no greater than 5.0 mills and to receive tax increment financing (TIF) revenues, if available. DDAs can issue indebtedness if authorized by the municipality. DDAs are separate legal entities from the cities in which they are located; however, budgets and board appointments of DDAs are subject to approval of the governing body of the municipality that created the DDA.
The existing CSDDA covers much of the traditional downtown area as depicted in the attached PowerPoint. The proposed boundary expansion would encompass several additional properties along East Pikes Peak Avenue east of Shook's Run Park. These properties are controlled by...
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