Agenda Date: 10/15/2024
Subject:
Title
Resolution 113-2024 Approving the 2025 Operating Plan and Budget for Mineral Business Improvement District
Body
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From: |
James L. Becklenberg, City Manager |
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Prepared by: |
Reid Betzing, City Attorney |
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Presentations: |
Laura S. Heinrich, Spencer Fane LLP, Attorney for Mineral BID |
PURPOSE:
The Business Improvement District Act, Section 31-25-1201, et seq, C.R.S. requires that Business Improvement Districts submit annual Operating Plans and Budgets for the coming year for city council approval.
LONG-TERM OUTCOME(S) SERVED:
High-Quality Governance
DISCUSSION:
The Business Improvement District Act (“Act”) requires that the District submit an annual operating plan and budget for the next fiscal year by September 30 of each year for approval by city council.
BACKGROUND:
On September 19, 2023, City Council approved the Mineral Business Improvement District (“District”) through the adoption of Ordinance No. 19, Series 2023. The District was established for the primary purpose of assisting in financing the costs of public improvements necessary to redevelop the property as part of the overall development.
Prior Actions or Discussions
Ordinance 19-2023 was approved by city council on September 19, 2023, approving the organization of the Mineral Business Improvement District, providing for an election of the Board of Directors, and approving the 2023-2024 Operating Plan and Budget for the District.
FISCAL IMPACTS:
N/A
STAFF RECOMMENDATION:
Staff recommends approval of the resolution.
ALTERNATIVES:
N/A
PROPOSED MOTION:
Proposed Motion
I move to approve Resolution 113-2024 approving the 2025 Operating Plan and Budget for the Mineral Business Improvement District.