Other/Miscellaneous Request Template (Appointments; ROW; Code Changes; Zoning Action, etc.)
Date Submitted: 10-11-19
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 2020 for the Federal Boulevard Business Improvement District.
Approves the 2020 Operating Plan and Budget for the Federal Boulevard Business Improvement District in Council District 1. The Committee approved filing this item at its meeting on 10-22-19.
body
Affected Council District(s) or citywide? Council District 1
Executive Summary with Rationale and Impact:
Detailed description of the item and why we are doing it. This can be a separate attachment.
State statute requires that City Council approves or disapproves the BID budget for the upcoming year. The ordinance represents the City’s approval for the expenditures and revenues necessary to execute the responsibilities of the District.
EXECUTIVE SUMMARY
Business Improvement 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 Federal Blvd BID and it is submitted annually.
General Description of District and Location: Federal Boulevard BID is located on Federal Blvd and its area is bounded by West 22nd to West 27th Avenues, and east along Eliot Street between West 24th and West 26th Avenues.
Business Improvement 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. The Federal Blvd BID is a commercial property owner funded management district that provides the following services and improvements: economic development services, physical improvements, and advocacy on behalf of corridor property and businesses. Services include: new and existing business support, business attraction and retention, consumer marketing, special events, maintenance and trash receptacles.
District Structure: The District has no debt and anticipates a mill levy of 10.000 for 2020. The 2020 proposed budget contemplates expenditures of $69,099. The current Board of Directors is composed of 5 citizens; concurrently with this budget and operating plan ordinance, the District is requesting an adjustment from 5 member to 7 members on the Board of Directors and a change in the number of members constituting a quorum from 3 to 4 members of the Board of Directors.
For all BIDs that have mill levies: City Council will pass a resolution in December to levy all special district mill levies for the 2020 budget year.
Address/Location (if applicable):
Legal Description (if applicable):
Denver Revised Municipal Code (D.R.M.C.) Citation (if applicable):
Draft Bill Attached?