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REQUEST FOR COUNCIL ACTION
ORDINANCE: 2003-18
SUBJECT: Receive petitions, which are accompanied by a cash deposit, and set a public hearing date for the purposes of creating a Business Improvement District along Alameda Avenue.
RECOMMENDATION: Approval
FUNDING SOURCE: A Business Improvement District imposes ad valorem property tax - Not a City Fund.
SUMMARY AND BACKGROUND OF SUBJECT MATTER: More than 75 property and business owners represent a coalition, which supports the formation of a Business Improvement District (BID) along the Alameda corridor from Sheridan Boulevard to Carr Street. In the State of Colorado, a BID can be organized only within a municipality and its boundaries may include only commercial property. The creation of a BID is initiated by petition. The petition must be signed by persons who own commercial real or personal property in the area of the proposed district having a valuation for assessment of not less than 50 percent of the valuation for assessment of all real and personal property in the district. Persons signing the petition also must own at least 50 percent of the acreage in the proposed district.
A BID has specific powers relating to business and economic development. These powers include promotion or marketing of district activities, providing design assistance and maintenance of landscaping and pedestrian malls. Based upon survey results, Alameda corridor BID program activities that are being recommended are economic development, street beautification and BID operations. Final programs and budgets will be subject to approval by the BID Board of Directors and City Council.
Subject to the approval of the City Council, upon a successful TABOR election in the district, a BID may impose ad valorem property taxes. The issuance of bonds and levy of taxes by a BID requires a TABOR election. The operating revenues of a BID do not constitute revenues of the City because the district is a separate political subdivision, thus district.
At this time, the City Council is being requested to receive the petitions, which are accompanied by a cash deposit sufficient to cover all expenses connected with the proceedings, and schedule a public hearing on the ordinance.
The attached ordinance is before City Council for second reading and public
hearing on July 28, 2003. If passed, the City Council, by way of the ordinance,
will make the required findings of fact, declare the district organized, define
the district boundaries and service area, provide for the organization of the
District Board of Directors, and identify the types of services and improvements
to be furnished by the district in fiscal year 2004.
DATE OF FIRST READING: July 14, 2003
DATE OF SECOND READING: July 28, 2003
ORIGINATED BY: Rebecca P. Clark, Deputy Director Community Planning & Development Department
STAFF PERSON RESPONSIBLE: Rebecca P. Clark, Deputy Director Community Planning & Development Department, 303-987-7525
DOCUMENTS ATTACHED: O-2003-18
Operating Plan
Boundary Map of the Proposed
Alameda Corridor Business Improvement District
Operating Budget
SUBMITTED BY:
Rebecca P. Clark, Deputy Director Community Planning & Development
Frank Gray, Director of Community Planning & Development
REVIEWED BY:
Joni Inman, Director Mayor and City Manager's Office
Michael J. Rock, City Manager
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