Other/Miscellaneous Request Template (Appointments; ROW; Code Changes; Zoning Action, etc.)
Date Submitted: 10-23-18
Requesting Agency: Finance
Division:
Subject Matter Expert:
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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 resolution by the Council of the City and County of Denver, sitting ex officio as the Board of Directors of the Gateway Village General Improvement District, approving a Work Plan, adopting a Budget and making appropriations for the Budget Year 2019 and approving a Mill Levy, and approving an Amended Work Plan and adopting an Amended Budget for the Budget Year 2018.
Approves the 2019 Operating Plan and Budget for the Gateway Village General Improvement District in Council District 11. The Committee approved filing this item at its meeting on 10-31-18.
body
Affected Council District(s) or citywide?
Executive Summary with Rationale and Impact:
Detailed description of the item and why we are doing it. This can be a separate attachment.
The Gateway Village General Improvement District ("the District") was created by Ordinance No. 551, Series 1994, and said Ordinance recognized the Council of the City and County of Denver as the Board of Directors of the District (the "Board of Directors"), pursuant to C.R.S. §31-25-609, C.R.S. The District is in the northeastern section of the City north of the I-70 and Chambers intersection. The District consists of 243 acres on the eastern border of Montbello. The District is completely developed and primarily consists of residential property with retail and commercial properties along the areas that border Chambers Road. The District was created to build and maintain streets, landscaping and parks, except for items turned over to the City. The eligible electors of the District have approved ballot issues authorizing the collection, retention and spending of the property tax and other revenues in the amounts specified in an annual authorized budget.
Ordinance No. 551 established a District Advisory Board (the "Advisory Board"), comprised of representatives of key agencies of the City, the City Council person for the District and the individual signatories to the Petition for organization of the District, and specified that such Advisory Board should, subject to the approval of the Board of Directors, conduct and manage all affairs of the District as the authorized agent of the Board of Directors, including its financial and legal affairs. By Resolution of the District, the Board of Directors directed the Advisory Board to prepare, deliver and recommend to the Board of Directors, at least once a year, a proposed Work Plan and Budget, as well as submit a corresponding mill levy for certification. Pursuant to this directive, the Advisory Board has prepared, reviewed and desires to recommend to the Board of Directors for its approval a District Work Plan, Budget and mill levy for the year 2019. These matters are to be considered by Council sitting as the ex officio Board of Directors of the District at a public hearing.
District Financial Structure: The 2019 budget contemplates overall expenditures and transfers of $1,991,803 with revenues of $619,914. Revenues will be raised by a 20.000 mill rate assessed on property (real and personal) in the District.
Address/Location (if applicable):
Legal Description (if applicable):
Denver Revised Municipal Code (D.R.M.C.) Citation (if applicable):
Draft Bill Attached?