Title
A Resolution Fixing and Certifying the 2022 Tax Levy for Taxes Payable in 2023 at 5.000 Mills for the Colorado Springs Downtown Development Authority in Colorado Springs, Colorado
Presenter:
Charae McDaniel, Chief Financial Officer
Susan Edmondson, President & CEO Downtown Partnership of Colorado Springs
Body
Summary:
The Colorado Springs Downtown Development Authority (DDA) is a legal entity separate from the City of Colorado Springs. However, as required by State statute it is necessary for City Council to pass a resolution to fix and certify the mill levy for 2022 at 5.000 mills for taxes payable in the 2023 budget year. The 2022 levy of 5.000 mills is unchanged from the prior year mill levy.
The 2023 budget provides a total appropriation of $4,533,360 for programs, grant agreements, operations and overhead, professional services, and other expenditures and an ending fund balance of $664,266.
Background:
The 11-member DDA board is appointed by City Council and includes representatives from a broad range of Downtown business types and property owners, along with a Council member. Currently, that member is Council Member Henjum. The 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 ...
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