Resolutions

The Horizon Drive Business Improvement District was founded in 2004. Organized under Colorado Statute 31-25-1201 et seq., it is a quasi-governmental, nonprofit organization, funded by a mil levy (property tax) on all commercial real and personal properties within the District's boundaries. The tax authorized by the State and levied by the District is a .005 mil levy, which is calculated on assessed value.

By 2009, the District had unintentionally collected excess taxes. After considering the issue, the Board of Directors voted to rebate excess taxes. The result was zero District tax levied in 2009, which is collected in 2010. Despite this vote and reduced revenue in 2010, the District was able to continue to operate the District with the funds previously collected and remain within budget by conservatively limiting expenditures. In tandem with the fiscally conservative policies of the District’s Board, the District substantially increased the service, representation and administrative efficiency by engaging in late 2009 the District Representative, Victoria Patsantaras.

To complete the rebate of excess taxes previously collected, in September, 2010, the District’s Board again enacted a temporary mil levy rate reduction to temporarily reduce the taxes that would be levied in 2010, to be collected in April, 2011. Despite the reduced tax revenues expected in 2011 by the District, the goals and initiatives selected by the District will be funded within the operating budget.

Officials Seek Public Input on New Horizon Drive Design