Title
Approval of the Proposed 2022 Operating Plan and Budget for the Barnes & Powers South Business Improvement District
Presenter:
Carl Schueler, Planning Manager - Comprehensive Planning
Body
Summary:
The Barnes & Powers 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 2022 Operating Plan and Budget for the BID.
This BID anticipates no significant activities in 2022 other than servicing its remaining debt.
Background:
The boundaries of this development-specific BID were established pursuant to an election in 2004. This BID has an elected board comprised of individuals associated with Nor'wood Development Group. The board currently has one vacancy which the District has noted may be filled with an appointment in 2021. The District is authorized to provide the acquisition of improvements, construction of improvements, operation and maintenance of parking facilities, roadways, lighting, driveways, public utilities, and landscaping. With the exception of the small parcel included in 2014, the balance of this District is owned by a single retail use (Costco). The District does not anticipate additional infrastructure work for commercial development in 2021. Barnes & Power North Business Improvement District provides maintenance and operation services on behalf of the District.
This Operating Plan and Budget is provided in format consistent with the standard template approved by Council in August 2014 for these documents.
This BID does not anticipate any major changes or new activities in the coming year.
Previous Council Action:
City Council approved creation of this BID in 2004 (Ordinance No. 04-50) and has approved the BID's Operating Plan and Budget annually since its formation. In 2007, City Council approved issuance of $835,000 in bonds by this BID. A limited additional iss...
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