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Home My WebLink AboutCOUNCIL - AGENDA ITEM - 12/04/2018 - RESOLUTION 2018-119 APPROVING THE MIDTOWN BUSINESSAgenda Item 21 Item # 21 Page 1 AGENDA ITEM SUMMARY December 4, 2018 City Council STAFF Josh Birks, Economic Health Director John Duval, Legal SUBJECT Resolution 2018-119 Approving the Midtown Business Improvement District 2019 Budget and Operating Plan. EXECUTIVE SUMMARY The purpose of this item is to consider a Resolution approving the Midtown Business Improvement District 2019 Budget and Operating Plan. STAFF RECOMMENDATION Staff recommends adoption of the Resolution. BACKGROUND / DISCUSSION On December 5, 2017, City Council adopted Ordinance No. 165, 2017, creating and establishing the Midtown Business Improvement District (BID), approving the BID’s initial budget and operating plan, and appointing the BID’s initial board of directors. On November 6, 2018, a TABOR election regarding the formation of the BID passed unanimously. The City Council created the BID under, and in accordance with, the Business Improvement District Act in Part 12 of Article 25 in Title 31 of the Colorado Revised Statutes (the “Act”). Section 31-25-1211 of the Act requires that the Council review and either approve or disapprove by December 5th the BID’s budget and operating plan for each upcoming fiscal year. The BID has submitted its proposed 2019 Budget and Operating Plan for Council’s consideration and approval. The Resolution, if adopted by Council, approves the BID’s 2019 Budget and Operating Plan. The 2019 Budget and Operating Plan are attached to Resolution 2018-119 as Exhibit A. About Midtown Midtown is a growing, thriving hub in central Fort Collins. The properties adjacent to College Avenue, from approximately Drake south to Boardwalk, as well as the Foothills Mall, make up Midtown. In total, the corridor spans slightly over one and a half miles. Today, Midtown is an active place with a wide range of commercial activities and a limited amount of residential and institutional uses. Automobile dealerships make up a significant portion of the business mix, while big box retailers dominate the shopping offer. Within the last few years, there has been renewed commitment to and interest in supporting a revitalized Midtown with a focus on a long-term strategy to support the growth of the district, both physically and economically. The Vision for Midtown Midtown has recently seen significant change. With the opening of the new Foothills Mall and significant investment taking place throughout the corridor, stakeholders envision a refreshed future for the district, one that continues to invigorate the area with destination retail, higher-density development, commercial opportunities and unique urban living opportunities. A distinctive identity, placemaking, events, activities and Agenda Item 21 Item # 21 Page 2 people-oriented uses will create a new shopping and entertainment hub in the heart of Fort Collins, providing distinctive options and opportunities for locals and visitors to the community. The BID’s Role In Midtown The development of the Midtown BID provides an opportunity to create a sustainable funding source to leverage public sector investments and provide private sector stakeholders in the area with a stronger platform through which to advocate for - and directly fund - needed improvements as Midtown comes into a new era. The Midtown BID aims to: • Create a collective voice to accomplish the goals of the neighborhood, provide leadership for the neighborhood, and champion the vision of Midtown. • Serve as the activator of the Midtown neighborhood, providing programming, marketing and activities year- round. • Purposefully improve and advance Midtown and facilitate economic growth and overall increased vitality in Midtown. • Develop and establish Midtown’s character and personality, communicate it succinctly, and bring it to life. • Create synergistic relationships with the City of Fort Collins to create an accessible and desirable place for locals and visitors. • Find interesting, active and creative uses for shops, sidewalks and open spaces that can boost the economy, thus diversifying the mix and adding new business opportunities. • Provide awareness, recognition, promotion and education about Midtown. • Keep Midtown safe, clean and welcoming. • Be an administrative umbrella that brings the neighborhood together and maximizes funding opportunities for the future of Midtown. BID Boundaries The Midtown BID includes parcels fronting South College Avenue from Drake Road in the north to Boardwalk Drive in the south, as well as those fronting East Foothills Parkway between East Swallow Road and South College Avenue in the City of Fort Collins, County of Larimer, State of Colorado. BID Assessment Method and Budget The BID will utilize an assessment method that is based upon linear frontage of a property on College Avenue and Foothills Parkway within the BID boundary. The initial assessment will be $10 per linear foot, annually. Only commercially-assessed properties will be included. The BID will raise approximately $170,000 in its first year of operations. 2019 Proposed BID Budget and Services The following table lays out the proposed Year One budget for the Midtown BID, as well as some considerations for each proposed expenditure: Agenda Item 21 Item # 21 Page 3 Table 1 2019 Midtown BID Budget BID Bonding As allowed by law, the BID may issue bonds or other multiple-year financial obligations only if the BID is authorized to do so by its operating plan, budget and its voters in a future election. The election must comply with all applicable state requirements, including the TABOR Amendment, and would limit the amount of debt that may be issued to no more than the amount that is approved by the BID voters. CITY FINANCIAL IMPACTS The Resolution has no impact on the City’s financials. Agenda Item 21 Item # 21 Page 4 ATTACHMENTS 1. Midtown BID Boundary Map (PDF) SCollegeAve W Horsetooth Rd E Swallow Rd Boardwalk Dr W Drake Rd Landings Dr John F Kennedy Pkwy E Horsetooth Rd SMaso n S t E Drake Rd W Boardwalk Dr E Foothills Pkwy II³I 9725308010 9726423003 9725222001 9726122001 9725243001 9725244001 9726123002 9725222004 9725222005 9726124001 9726127001 9725222007 9725222008 9725222010 9725222012 9725222015 9725222016 9726127004 9726114001 9725312002 9726100034 9726100016 9726100022 9726415001 9726414001 9726414003 9726414011 9736205005 9736205025 9726131001 9726132001 9726137001 9726137002 9726139001 9735109005 9725267002 9725267001 9725267003 9726138001 9735110001 9735110002 9736215001 9736215003 -1- RESOLUTION 2018-119 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROVING THE MIDTOWN BUSINESS IMPROVEMENT DISTRICT 2019 BUDGET AND OPERATING PLAN WHEREAS, on December 5, 2017, the City Council adopted Ordinance No. 165, 2017, creating the Midtown Business Improvement District (the “District”) in accordance with the provisions of the Business Improvement District Act in Part 12 of Article 25 in Title 31 of the Colorado Revised Statutes (the “Act”); and WHEREAS, the City Council also appointed the District’s initial board of directors (the “District Board”) in Ordinance No. 165, 2017; and WHEREAS, the District Board has approved and submitted to the City Clerk the District’s 2019 Budget and Operating Plan, which is attached hereto as Exhibit “A” and incorporated herein by reference (the “2019 Budget and Operating Plan”); and WHEREAS, Section 31-25-1211 of the Act provides that the City Council shall either approve or disapprove the 2019 Budget and Operating Plan by December 5, 2018 and, if approved, the District’s services, improvements and financial arrangements for 2019 are to conform as far as practicable to the 2019 Budget and Operating Plan unless amended with the City Council’s prior approval; and WHEREAS, the City Council has reviewed the 2019 Budget and Operating Plan and finds and determines that it satisfies the requirements of the Act and should be approved. NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT COLLINS as follows: Section 1. That the City Council hereby makes and adopts the determinations and findings contained in the recitals set forth above. Section 2. That the District’s 2019 Budget and Operating Plan is hereby approved and, as required by the Act, the District’s 2019 services, improvements and financial arrangements shall conform as far as practicable with the 2019 Budget and Operating Plan. Passed and adopted at a regular meeting of the Council of the City of Fort Collins this 4th day of December, A.D. 2018. _________________________________ Mayor ATTEST: _____________________________ City Clerk EXHIBIT A 9735119005 9725312004 9726425001 9735150001 9735150002 9736232001 9726433002 9735156001 9736234001 9726434001 9726434002 9725327001 9736248001 9736249003 9726439001 9725331010 9725330015 9725330002 9725330003 9725330009 9725330010 9725330012 9725330016 9725330014 9725330013 9725330017 9725333003 9725332011 9725332018 9725332019 Midtown Business Improvement District (BID) Parcel with College Frontage Parcel with Foothills Pkwy Frontage / CITY OF FORT COLLINS GEOGRAPHIC INFORMATION SYSTEM MAP PRODUCTS These map products and all underlying data are developed for use by the City of Fort Collins for its internal purposes only, and were not designed or intended for general use by members of the public. The City makes no representation or warranty as to the accuracy, timeliness, or completeness, and in particular, accuracy in labeling or displaying dimensions, contours, property boundaries, or placement of location of any map features thereon. THE CITY OF FORT COLLINS MAKES NO WARRANTY OF MERCHANTABILITY OR WARRANTY FOR FITNESS OF USE FOR PARTICULAR PURPOSE, EXPRESSED OR IMPLIED, WITH RESPECT TO THESE MAP PRODUCTS OR THE UNDERLYING DATA. Any user of these map products, map applications, or data, accepts them AS IS, WITH ALL FAULTS, and assumes all responsibility of the use thereof, and further covenants and agrees to hold the City harmless from and against all damage, loss, or liability arising from any use of this map product, in consideration of the City's having made this information available. Independent verification of all data contained herein should be obtained by any users of these products, or underlying data. The City disclaims, and shall not be held liable for any and all damage, loss, or liability, whether direct, indirect, or consequential, which arises or may arise from these map products or the use thereof by any person or entity. ATTACHMENT 1