Other/Miscellaneous Request Template (Appointments; ROW; Code Changes; Zoning Action, etc.)
Date Submitted: 11-01-20
Requesting Agency: Finance
Division:
Subject Matter Expert Name:
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Name: Michael Kerrigan - Finance |
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Email: michael.kerrigan@denvergov.org |
Item Title & Description:
(Do not delete the following instructions)
These appear on the Council meeting agenda. Initially, the requesting agency will enter a 2-3 sentence description. Upon bill filling, the City Attorney’s Office should enter the title above the description (the title should be in bold font).
Both the title and description must be entered between the red “title” and “body” below. Do not at any time delete the red “title” or “body” markers from this template.
title
A bill for an ordinance approving an Operating Plan and Budget for 2021 for the Downtown Denver Business Improvement District.
Approves the 2021 Operating Plan and Budget for the Downtown Denver Business Improvement District in Council District 9. The Committee approved filing this item at its meeting on 11-10-20.
body
Affected Council District(s) or citywide? Council District 9
Executive Summary with Rationale and Impact:
Detailed description of the item and why we are doing it. This can be a separate attachment.
Business Improvements Districts (BID’s) are organized for the benefit of commercial properties to assist with infrastructure improvements and their maintenance, as well as having the ability to perform marketing and economic development activities. This is the operating plan and budget for Downtown Denver BID (the “District”) and it is submitted annually.
General Description of District and Location: The District covers a 120- block area within central downtown Denver. The District is centered on the 16th Street Mall from Grant and Colfax to Wewatta Street extending approximately 4 blocks on the east to 20th Street and to Speer Blvd on the west side of 16th Street.
The District is a property-owner funded management district that provides the following services and improvements: capital improvement projects, cleaning and maintenance, marketing and communication of District events and programs, economic development services, transportation initiatives and safety services.
Operations and improvements of the District are financed by special assessments on real commercial property within the District, IGAs, interest, grants, and fees.
In 2001, the electors overwhelmingly supported a proposal to significantly increase special assessments and the District increased its core services - litter and trash removal, sidewalk sweeping, and alley cleaning throughout downtown Denver and broadened its safety services. These safety services included Downtown Ambassadors, a homeless outreach program, and currently the establishment of the Security Network Radio communications system.
District Structure: The District has no debt and no mill levy. The majority of the District is financed by a special assessment that is based upon a formula of property size, building size, and geographic location to meet the proposed budgetary expenditures for 2021. The District also generates revenues via IGAs, interest, grants, and fees. The 2021 budgeted expenses are $8,846,948 which are comprised of: $7,576,545 Operating and Maintenance; $20,200 Capital Fund expenses; $72,000 Periodic Maintenance Fund expenses; $44,500 Special Projects/Contingency expenses; and $1,122,232 Enterprise expenses. The Board of Directors is composed of 7 electors.
Address/Location (if applicable):
Legal Description (if applicable):
Denver Revised Municipal Code (D.R.M.C.) Citation (if applicable):
Draft Bill Attached?