City of Colorado Springs
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File #: 19-398    Version: Name:
Type: Ordinance Status: Mayor's Office
File created: 7/15/2019 In control: City Council
On agenda: 9/24/2019 Final action: 9/24/2019
Title: Ordinance No. 19-62 organizing the MW Retail Business Improvement District and appointing an initial Board of Directors. (Legislative Item) Presenter: Peter Wysocki, Director of Planning and Community Development Carl Schueler, Comprehensive Planning Manager, Planning & Community Development Department
Indexes: BID
Attachments: 1. Ordinance_MWRetailBID, 2. Exhibit A- 2019 07 12 - Executed Petition for Organization - MW Retail BID(3706726.1), 3. Exhibit B- 2019 08 01 - Notice of Hearing on Petition for Organization - MW Retail BID, 4. Exhibit C- Final 2019-2020 Operating Plan - MW Retail BID, 5. Exhibit D- Special District Policy, 6. Signed Ordinance 19-62.pdf


Title
Ordinance No. 19-62 organizing the MW Retail Business Improvement District and appointing an initial Board of Directors. (Legislative Item)

Presenter:
Peter Wysocki, Director of Planning and Community Development

Carl Schueler, Comprehensive Planning Manager, Planning & Community Development Department

Body
Summary:
This is a request to create a new MW Retail Business Improvement District ("District") to finance and maintain improvements within its boundaries to benefit retail and commercial business therein and appoint an initial Board of Directors. Because of its relationship to other overlying districts with previously issued debt (primarily the Woodmen Heights Metropolitan District No. 3), this BID will not initially have a debt service mill levy. However, it does anticipate issuing debt to be repaid from public improvement fee (PIF) revenues.

This item was presented for first reading at the September 10, 2019 City Council meeting. At that hearing the petitioners agreed to reduce the maximum operating mill levy from 5.0 to 1.0 mills. City Council's motion for approval included this change. An Operating Plan and Budget with this revision has now been provided and is attached as an exhibit to the ordinance.

Background:
BIDs are created under Colorado Statutes and City Policy to finance and/or maintain certain public improvements in non-residential areas, primarily utilizing a property tax mill levy as the revenue source. By Colorado Statutes, properties assessed as residential use cannot be levied a BID tax.

BIDs are separate legal entities from the City. However, their formation requires Council approval, and City Council must then annually approve their Operating Plans and Budgets. These processes provide an opportunity for City Council to establish limits and parameters for operation to the BIDs beyond those included in State Statues. City Council adopted a Special District Policy ("Policy") in 2006. It establishes recommended l...

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