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Council preview: Northwest Retail Business Improvement District amends operating plan to permit future bond issuance
Summary
Planning staff presented an amendment to the NW Retail Business Improvement District operating plan to update the district's financial plan, reflect recently issued 2024 bonds, and allow future bond issuances tied to an updated 2025 financial plan; the district covers a commercial corner in Council District 6 and includes a 3% public improvement
Allison Stocker, Land Use Review Division, told the council the Northwest (NW) Retail Business Improvement District is seeking an amendment to its operating plan to allow bond issuances that align with an updated financial plan and to reflect a bond series issued in 2024.
Stocker said the district — at the corner of Marksheffel and Woodman in Council District 6 — was created in 2019 with a maximum indebtedness of $10 million, a maximum operating/maintenance mill levy of 10 mills and…
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