Title
A Resolution of the City Council of Colorado Springs, Colorado Approving the Proposed 2023 Operating Plan and Budget for the Barnes & Powers North Business Improvement District
Presenter:
Carl Schueler, Planning Manager - Comprehensive Planning
Michael Tassi, Assistant Director, Planning and Community Development
Body
Summary:
The Barnes & Powers North 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 2023 Operating Plan and Budget for the BID.
This BID anticipates no significant activities in 2023 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 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 is provided in format consistent with the standard template approved by Council in August 2022 for these documents.
Previous Council Action:
City Council approved the creation of this BID in 2004 (Ordinance No. 04-49) and has approved the BID Operating Plan and Budget annually since its formation. In 2007, City Council approved issuance of $4,000,000 in bonded indebtedness to reimburse the developers for eligible public improvements costs. In 2014, Council approved a minor exclusion of property from this District in order to add property to the Barnes & Powers South BID for the purposes of allowing that
District to continue to operate with its current board of directors (Ordinance No. 14-4).
This item was introduced in a City Council Work Session on October 10, 2022. Council ha...
Click here for full text