Agenda Date: 10/15/2024
Subject:
Title
Resolution 108-2024: Approving the 2025 Operating Plan and Budget for Littleton Downtown Development Authority (LDDA)
Body
From:
James L. Becklenberg, City Manager
Prepared by:
Lucy Lucero, Executive Assistant
Presentations:
Jenny Starkey, LDDA Director
PURPOSE:
The Downtown Development Authorities Act, Section 31-25-816, et seq, C.R.S. requires that the Littleton Downtown Development Authority (LDDA) submit an annual Operating Plan and Budget for the coming year for city council approval.
LONG-TERM OUTCOME(S) SERVED:
High-Quality Governance
DISCUSSION:
The Downtown Development Authorities Act ("Act") requires that the authority submit an annual operating plan and budget for the next fiscal year by December 31 of each year for approval by city council. The LDDA held a public meeting on August 21, 2024 and adopted the 2025 Budget.
BACKGROUND:
DDAs are quasi-governmental entities that provide organizational focus and financing to support downtown economic development and improvements. DDAs help facilitate partnerships between businesses, property owners, and local governments to champion the beautification, development, and improvements of a city's central business area for the benefit of the city.
City council sent qualified electors within the boundaries of the then-proposed LDDA three ballot questions that included formation of the DDA, the collection of all revenues, and an increase in property taxes during its public hearing on August 16, 2022. Qualified electors within the proposed boundaries overwhelmingly approved the formation and financial tools for the LDDA on November 8, 2022.
Per state statute, the LDDA must submit their plan of development to planning commission for recommendation and then to city council for approval. The plan of development was adopted by the LDDA Board on March 22, 2023.
Prior Actions or Discussions
* Ordinance 29-2022, creating and establishing the LDDA and determining organizatio...
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