Title
Ordinance No. 19-19 including certain property into the Creekwalk Marketplace Business Improvement District
(Legislative)
Presenter:
Carl Schueler, Comprehensive Planning Manager, Planning & Community Development
Body
Summary:
This is a request for approval of an ordinance to include 22 smaller parcels into the boundaries of the Creekwalk Marketplace Business Improvement District (the "District"). The City received a Petitions for an Inclusion of Properties as executed by the owners.
Per Colorado State Statute, property included in a BID does not need to be contiguous or adjacent. These inclusions will bring additional recently acquired properties into the District boundaries. All of these properties are logically related to the ongoing redevelopment of the South Nevada area and to the anticipated involvement of this BID in particularly.
Previous Council Action:
The BID with its initial operating plan and budget was established by Ordinance 16-18 made effective on March 3, 2016. City Council subsequently approved a request for Inclusion of Property into this BID by Ordinance 17-87, made effective on October 4, 2017. On February 27, 2018 additional property was included by Ordinance 18-10.
This BID's Operating Plan and Budgets have been approved annually since that time in accordance with C.R.S. Section 31-25-1211, and most recently in October 2018.
Council has also recently approved commercial rezoning petitions and a concept plan for several of these subject properties.
Council has not approved issuance of any debt by this BID, although a proposed issuance is anticipated later in 2019.
This item was introduced to City Council during the work session on February 25, 2019.
Background:
BIDs are created under Colorado Statute and City Policy to finance and/or maintain certain public improvements in non-residential areas, utilizing a property tax mill levy as their primary revenue source. BIDs are separate legal entities into...
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