SUBJECT:
Title
A Resolution of the Town Council of the Town of Erie Setting a Public Hearing on the Petition for Organization of the Erie Sports Business Improvement District
Department
DEPARTMENT: Economic Development
Presenter
PRESENTER(S): Julian Jacquin, Director of Economic Development & TOEURA
end
Time
TIME ESTIMATE: 0 minutes
end
For time estimate: please put 0 for Consent items.
Fiscal
FISCAL SUMMARY:
If created, the Erie Indoor Sports Business Improvement District (BID) may issue debt in an amount not to exceed $7,620,000 to finance and construct public improvements within its boundaries. The BID may levy up to 50 mills for debt service and 10 mills for operations and maintenance on taxable real property within the District.
Policy
POLICY ISSUES:
Whether to accept the Petition for Organization of a business improvement district for the Erie Indoor Sports complex and set a public hearing date for Council consideration.
Recommendation
STAFF RECOMMENDATION:
Approve Resolution 25-170.
Body
SUMMARY/KEY POINTS
* On Sept. 18, Town staff received the attached Petition from the property owners to form the Erie Indoor Sports BID.
* State law requires Council to adopt a resolution setting the date and time for a public hearing to consider the Petition and proposed District.
* Approving the Resolution would set the public hearing for Tues., Nov. 4, at 6:30 p.m. at the regularly scheduled meeting of the Erie Town Council.
BACKGROUND OF SUBJECT MATTER:
The Town received a Petition from the primary property owners requesting formation of the Erie Indoor Sports Business Improvement District under Part 12, Article 25, Title 31, Colorado Revised Statutes. The proposed District would include approximately 36.1 acres at the southeast corner of County Line Road and Bonnell Avenue.
The District intends to finance, construct, operate, and maintain public improvements to support development of the Erie Indoor Sports project, inc...
Click here for full text