Title
A Resolution approving the amended 2020 Budget for the Colorado Springs Downtown Development Authority in Colorado Springs, Colorado
Presenter:
Charae McDaniel, Chief Financial Officer
Body
Summary:
The Colorado Springs Downtown Development Authority (DDA) is a legal entity separate from the City of Colorado Springs. However, City Council approval of the annual budget is required by State statute. City Council has previously approved the DDA's 2020 budget, but the DDA has now amended the budget. Thus, the attached resolution approves the amended 2020 budget (Exhibit A) of the Colorado Springs Downtown Development Authority (DDA).
Background:
The DDA board intends to utilize a portion of the voter-approved property tax revenues to create and implement incentive and grant programs to support the goals of the Experience Downtown Master Plan, which it has adopted as the basis for its scope of work. Goals include:
? Ensuring Downtown serves as the economic and cultural heart of the region.
? Creating a diverse and inclusive place to live with the amenities supporting residents.
? Celebrating and connecting with outdoor recreation and an exceptional natural setting.
? Providing a place for healthy and active lifestyles.
? Ensuring a walkable and bike-friendly center connected through safe and accessible multimodal networks.
? Serving as a leader in innovative urban design and sustainability.
? Offering an unforgettable visitor experience.
? Providing a place for inspiration, honoring history and facing the future.
The ordinances creating the DDA stipulate a specific mix of representation on its City Council-appointed board, to include one member of City Council. Currently, that member is Council Member Gaebler.
Attached as Exhibit B is additional information provided by the DDA regarding the 2020 budget. An update on 2019 projects and accomplishments will be provided separately to City Council.
Previous Council Action:
City C...
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