City of Colorado Springs
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File #: 19-446    Version: Name:
Type: Resolutions Status: Passed
File created: 7/30/2019 In control: City Council
On agenda: 10/22/2019 Final action: 10/22/2019
Title: A proposed 2020 Operating Plan and Budget for the USAFA Visitors Center Business Improvement District Presenter: Carl Schueler, Comprehensive Planning Manager
Attachments: 1. Revised USAFA BID - 2020 Operating Plan - Final II - Oct 15 2019


Title
A proposed 2020 Operating Plan and Budget for the USAFA Visitors Center Business Improvement District

Presenter:
Carl Schueler, Comprehensive Planning Manager

Body
Summary:
The USAFA Visitors Center 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.

An amended 2019 Operating Plan and Budget for this BID is being concurrently processed with this 2020 Operating Plan and Budget, in order to authorize the BID to undertake certain desired activities prior to 2019 year-end. The proposed 2019 and 2020 plans largely mirror each other.

The District's Accountant acknowledges a discrepancy in the Accountant's Compilation Report - Summary of Significant Assumptions (Operating Plan - Exhibit F) as compared to the 2020 Operating Plan (Paragraph 6B) and the approved 2018 Operating Plan. This discrepancy, which notes that the City authorized debt in the 2018 Operating plan of up to $450,000,000, will be corrected in next year's report. As a point of clarification the District voters approved the $450,000,000 maximum debt while the City approved a $22,000,000 debt limit in the original August 2018 Council approval motion.

Previous Council Action:
City Council approved creation of this BID in 2018 (Ordinance No. 18-77). In March 2019 Council approved the annexation of area known as USAFA Annexation Addition No. 1 and No. 2 consisting of 183.13 acres (Ordinance 19-16 and 19-17). Council approved an urban renewal plan for this project site on July 9, 2019 by Resolution No. 61-19. On October 8, 2019, City Council voted on first reading to approve ordinances including approximately 36.1 acres into this BID, and to exclude the originally included 1.705 acre interim boundary parcel.

This item was introduced at a City Council Work Session on October 7, 2019. At th...

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