Agenda Date: 11/19/2024
Subject:
Title
Ordinance 27-2024: An ordinance on second reading of the City Council of the City of Littleton, Colorado, establishing the tax levy of 3.0 mills to help defray the costs of government for the Littleton Downtown Development Authority of the county of Arapahoe, State of Colorado, for the calendar year beginning January 1, 2025, and ending on December 31, 2025
Body
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From: |
James L. Becklenberg, City Manager |
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Prepared by: |
Tiffany Hooten, Finance Director |
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Presentations: |
Tiffany Hooten, Finance Director |
PURPOSE:
City Council consideration establishing the tax levy of 3.0 mills for the Littleton Downtown Development Authority (LDDA) of the county of Arapahoe, State of Colorado, to be collected in 2025.
LONG-TERM OUTCOME(S) SERVED:
High-Quality Governance
DISCUSSION:
This ordinance will establish a mill levy of 3.0 mills for the LDDA to be collected in 2025 as approved by voters November 2022.
BACKGROUND:
The Littleton Downtown Development authority was approved by voters in November 2022 with a mill levy set at 3.0 mills. The LDDA Board adopted the 2025 budget on August 21, 2024, and is being presented to the council for consideration and approval this evening.
Prior Actions or Discussions
This ordinance passed on first reading on October 15, 2024.
FISCAL IMPACTS:
The LDDA estimates approximately $190,000 to be collected in property taxes in 2025.
STAFF RECOMMENDATION:
Staff recommends approval of the ordinance on second reading establishing the 2024 tax (mill) levy to be collected in 2025.
ALTERNATIVES:
N/A
PROPOSED MOTION:
Proposed Motion
I move to approve Ordinance 27-2024 on second reading of the City Council of the City of Littleton, Colorado, establishing the tax levy of 3.0 mills to help defray the costs of government for the Littleton Downtown Development Authority of the county of Arapahoe, State of Colorado, for the calendar year beginning January 1, 2025, and ending on December 31, 2025.