City of Colorado Springs
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File #: 19-424    Version: Name:
Type: Resolutions Status: Passed
File created: 7/22/2019 In control: City Council
On agenda: 10/22/2019 Final action: 10/22/2019
Title: Approval of the Proposed 2020 Operating Plan and Budget for the Interquest South Business Improvement District Presenter: Carl Schueler, Comprehensive Planning Manager
Attachments: 1. 2020 Operating Plan and Budget - Interquest South BID


Title
Approval of the Proposed 2020 Operating Plan and Budget for the Interquest South Business Improvement District

Presenter:
Carl Schueler, Comprehensive Planning Manager

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 2020 Operating Plan and Budget for the BID.

Previous Council Action:
City Council approved formation of this BID in 2004 (Ordinance No. 04-238) and has approved the BID Operating Plan and Budget annually since its formation. In September 2015, Council approved a series of three ordinances and one resolution authorizing exclusions of certain property, inclusions of other property, and also allowing for the temporary appointments of two directors for this otherwise elected board of directors. In 2017, City Council approved the temporary appointment of two additional directors, thereby allowing for the total membership to be increased to four individuals.

Council subsequently approved an ordinance to exclude certain property on November 14, 2017 (Ordinance No. 17-103) and authorized the issuance of up to $4,000,000 in debt in the form of a bond issuance on October 24, 2017 (Resolution No. 116-17).

This item was introduced in a City Council Work Session on October 7, 2019.

Background:
The boundaries of this development-specific BID were initially established pursuant to an election in 2004. 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.

This Operating Plan and Budget anticipates continued development in 2020, including the design, installation or acquisition of additio...

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