Title
Ordinance No. 17-27 excluding a 13.151-acre parcel from the Interquest North Business Improvement District.
(Legislative)
Presenter:
Carl Schueler, Comprehensive Planning Manager, Planning & Development
Body
Summary:
This is a request for approval of an ordinance to exclude approximately 13.151 acres of property from the boundaries of the Interquest North Business Improvement District (the "BID"). The property is being excluded because it is in the process of being converted to residential uses, and by law BIDs can only include and tax non-residential properties. State Statute (Section 31-25-1220, C.R.S.) requires that any exclusions of property from BIDs be approved by the City, by ordinance. In accordance with the statutory section cited above, the petition for exclusion has been verified and arrangements made with the City for legal publication.
Previous Council Action:
The BID was established pursuant to Ordinance 04-237 finally adopted by Council on October 26, 2004, which approved the initial operating plan and budget ("Operating Plan") for the BID. Additional property was included in this BID in 2007 (Ordinance 07-147) In 2010 City Council approved Resolution 185-10 which authorized issuance of $6,500,000 in privately placed bonded debt. On February 9, 2016 Council approved an ordinance excluding certain property from this BID (Ordinance No. 16-12). The BID's Operating Plan has been approved annually in accordance with Section 31-25-1211, C.R.S., and most recently in October 2016.
On February 27, 2017, this item was introduced to City Council and will be heard formally at the March 14, 2017 City Council Regular Session.
On March 14, 2017, City Council approved this ordinance with a motion by President Pro Tem Gaebler, seconded by Councilmember Bagley, on a vote of 8-1 (Councilmember Collins being the dissenting vote).
Background:
BIDs are created under Colorado Statute and City Policy to finance and/or maintain certain publ...
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