Agenda Date: 10/20/2020
Subject:
Title
Resolution 70-2020: Approving the 2021 Operating Plan and Budget for the Aspen Grove Business Improvement District
Body
Prepared by:
Lucy Lucero, Executive Assistant, City Manager's Office
PURPOSE:
The Business Improvement District Act, Section 31-25-1201, et seq., C.R.S., requires that the Aspen Grove Business Improvement District submit an annual Operating Plan and Budget for the coming year for city council approval.
PRESENTATIONS:
Staff Presenter(s): Mark Relph, City Manager
Additional Presenter(s): Timothy J. Flynn of Collins Cockrel & Cole, Attorney for
Aspen Grove Business Improvement District
SUMMARY:
The Aspen Grove Business Improvement District ("BID") was formed on August 15, 2000 by Ordinance No. 24-2000 for the purpose of financing the public improvements and services necessary for the development and continued operation of the Aspen Grove Lifestyle Center, and in connection therewith, to acquire, construct, install and in certain instances, own, operate and maintain various public improvements.
Pursuant to Section 31-25-1211, C.R.S., by September of each calendar year, the BID is to submit an annual Operating Plan and Budget for the next calendar year to the city council for review and approval.
PRIOR ACTIONS OR DISCUSSIONS:
The 2020 Operating Plan and Budget was approved by city council on October 15, 2019.
ANALYSIS:
Staff Analysis
The BID did not construct or acquire improvements during 2020. Because the 2020 preliminary assessed valuation has not been received, the BID used its 2019 final assessed valuation as the preliminary assessed valuation for the purposes of its 2021 Budget. Accordingly, the estimated assessed valuation for the BID for 2021 will be $31,598,167. The BID's debt service mill levy will remain the same at 25 mills. The BID has no plans to construct any improvements during 2021.
Council Goal, Objective, and/or Guiding Principle
Engaged. Littleton will remain engaged an...
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