ATTACHMENT B - 4.24 SS District Analysis Results and Recommendations

STUDY SESSION MEMORANDUM TO:

Mayor and Members of City Council

FROM:

Nuria Rivera-Vandermyde, City Manager Mark Woulf, Assistant City Manager Cris Jones, Director of Community Vitality Matt Chasansky, Senior Manager, Community Vitality Reegan Brown, Senior Project Manager of Community Vitality

DATE:

April 24, 2025

SUBJECT:

Commercial Area Connections and Quality of Life Improvements Update: District Analysis Results and Recommendations

EXECUTIVE SUMMARY In alignment with the City Council’s 2024-2025 priority of “Commercial Area Connections and Quality of Life Improvements,” the Community Vitality Department, in partnership with various city departments, has undertaken a comprehensive series of efforts to enhance the vibrancy and sustainability of Boulder’s commercial districts. These efforts focus on improving connectivity, fostering economic vitality, and addressing long-term financial and governance sustainability challenges within key commercial hubs across the city. This memorandum provides a detailed update on the ongoing work, highlighting initiatives designed to improve connections between Boulder’s commercial centers. The success of these efforts is critical not only for businesses and residents but also for the continued economic prosperity of the entire city. A key component of this initiative is the Improvement District Analysis, which offers strategic insights into how financial tools and governance models can address current and emerging challenges within Boulder’s General Improvement Districts (GIDs) and other areas that could benefit from district management tools. Conducted by Progressive Urban Management Associates (PUMA) through a formal Request for Proposal (RFP) process, the analysis provides a set of actionable recommendations for improving the financial and governance structures of Boulder’s GIDs. At this stage, we are bringing this analysis to council to present key findings, gather feedback on potential district management

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approaches, and identify any policy considerations that should be explored further. Council’s input will help shape next steps, whether to pursue modifications to existing tools, such as adjusting mill levies or governance structures, or explore the creation of new district management models. As the Board of Directors for Boulder’s GIDs, council’s role includes providing feedback on these recommendations and considering potential actions that may require formal decisions. Additionally, this discussion will determine council’s interest in taking initial steps for the establishment of a Downtown Development Authority (DDA) or other mechanisms to support economic growth in key commercial areas. The city’s commissions representing our special districts – the Downtown Management Commission (DMC), the University Hill Commercial Area Management Commission (UHCAMC), and the joint Boulder Junction Access District (BJAD) commissions – have been actively engaged in this work. During a joint meeting on April 8th, all commissions expressed support for the district analysis work to date, including PUMA’s recommendations. Commissioners raised thoughtful questions around the process for a potential DDA, including TIF impacts and the timeline for getting a DDA on the ballot. Overall, commissioners emphasized that a DDA would give the city greater local control over its future and affirmed their support for the direction and recommendations presented. The findings from the Improvement District Analysis will also guide the development of the Boulder Commercial Areas Blueprint which will provide long-term vision and strategic guidance. This document will be associated with the Boulder Valley Comprehensive Plan update to shape policy and strategies across Boulder’s commercial areas generally, and improvement districts specifically, ensuring that they remain vibrant, sustainable, and resilient for decades to come. Questions for Council 1. Does City Council have feedback on the recommendations from the Improvement District Analysis, including the further exploration of a Downtown Development Authority (DDA)? 2. Does City Council have any questions or feedback on the potential next steps related to the Commercial Areas Blueprint? KEY ISSUES IDENTIFIED Boulder’s commercial districts serve as economic, social, and cultural anchors, evolving over time to reflect the city’s changing needs. Our GIDs (a map of them which is included as Attachment A) were originally established with specific missions – such as supporting parking infrastructure, asset maintenance, and transportation demand management services. Over years and decades of operation, the GIDs have expanded beyond their original roles. Today, new opportunities such as the retirement of district debt and new hotel developments present possibilities for reinvestment, while emerging

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challenges including safety concerns and increased office vacancies require strategic responses. Boulder currently has four GIDs • the Central Area General Improvement District (CAGID or Downtown), • the University Hill General Improvement District (UHGID or University Hill), and • the two Boulder Junction Access Districts: one for (Parking and one for Transportation Demand Management (collectively: BJAD) Each GID faces distinct challenges and opportunities. CAGID was established to fund parking infrastructure in response to state parking minimums that, during the 1970s, would have compromised the historic character and vibrancy of Downtown. CAGID has now retired debt on those parking garages which creates new opportunities to realign financial priorities. However, with Downtown office vacancy rates approaching 30%, reflecting broader shifts in work patterns, the district must evaluate how to sustain vibrancy amid changing demand. Safety, downtown maintenance services levels, and support for local businesses have also emerged as important considerations. UHGID has supported parking and streetscape improvements on University Hill but now faces growing calls for enhanced safety and public space improvements. Business owners and community members have repeatedly cited concerns about the public realm including but not limited to challenges such as lighting, limited activation, and the need for improved connectivity to Downtown to support a thriving commercial district. There are also concerns about the efficiency of governance, with tax and parking revenues in UHGID not meeting community needs. There are also unique opportunities in this area, including the new hotel and University conference center. Meanwhile BJAD, which was designed to support parking and multimodal transportation in Boulder Junction, must evolve its governance and funding approach given the current complexities of administering two overlapping districts, levels of taxation, and changes to transportation options in the area. On the side of opportunities, the future of BJAD must take into account the completion of new residential, retail, and office developments and the beginning of development in the nearby Phase II area. Beyond the city’s existing GIDs, there are several areas where new urban management tools could enhance connectivity, long-term sustainability, and economic vibrancy. The Civic Area continues to advance as a major redevelopment priority, with a focus on creating a more accessible and inviting public realm and strengthening its role as a hub for community activity. In the northwestern part of the city, the Western City Campus presents opportunities for strategic reinvestment, particularly in infrastructure and mobility improvements that could reinforce its growing and anticipated influx of employees and visitors. Additionally, the 55th & Arapahoe corridor has long been one of the city’s key employment centers and is poised for significant transformation. The East Boulder Subcommunity Plan envisions this area evolving into a more dynamic, mixeduse district with enhanced transportation infrastructure, improved amenities, and new

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housing opportunities. Implementing new governance mechanisms and investment strategies here could support long-term economic growth and ensure alignment with the plan’s broader vision for East Boulder. Additionally, the recent announcement that Boulder will host the Sundance Film Festival in 2027 further underscores the need to invest in the city’s cultural assets and infrastructure to support major events and ensure positive economic impacts are widely distributed across the community. Council has been previously engaged in this work, including an update during the City Council Meeting on September 19, 2024 with the agenda item ‘Commercial Areas Update – Connections and Analysis.’ During this meeting, council endorsed the project’s direction and provided guidance on priorities. By addressing these priorities and refining the financial and governance models for our GIDs, and introducing new district management tools where appropriate, the city can help ensure that Boulder’s commercial districts remain resilient, adaptive, and well-positioned to support long-term economic vitality. BACKGROUND Boulder’s commercial areas, which are key economic and cultural hubs, play a vital role for our community. These areas not only provide essential services, retail, and cultural experiences but also foster social connections and economic opportunities that benefit both residents and visitors. These areas are defined in the Boulder Valley Comprehensive Plan as regional and neighborhood centers and are designated to guide development, enhance accessibility, and improve connectivity between residential and commercial uses. Recognizing their importance, council has prioritized “Commercial Area Connections and Quality of Life Improvements”, emphasizing the need for creating cohesive, welcoming, and connected spaces across Boulder’s commercial areas. Current Efforts The 2024-2026 Citywide Strategic Plan and City Council priority focuses on collective efforts to address overall beautification, quality of life, investment, and long-term viability of both existing General Improvement Districts (GIDs) and other commercial areas. A major aspect of council’s priority was to ensure short-term investment related to University Hill, the Downtown and the physical connections between the areas. Since April 2024, staff and community partners have made investments in beautification, quality of life, and connections across both areas. Below is a summary of notable completed activities: Aesthetic/Wayfinding: • Temporary signage installed between Downtown and Hill for wayfinding • Major crosswalk painting refreshed at several locations • Creative crosswalk mural installations on the Hill • Tree stump removal and weed control within Broadway medians

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•

Arboretum garden beds repaired and replanted

Safety • Continued implementation of the Safe Zones for All – prioritized clean-up activities near schools and bike paths • Sidewalk enhancements along 11th Street, improving walking experience between Hill and Downtown • Temporary fencing installations in the Arboretum • Expanded area of Downtown Ambassadors (corridor between Hill and Downtown) Transportation/Connections • Expanded routing along Broadway and the Hill for the Park-to-Park shuttle program • Communication, partnership, and temporary signage to ensure awareness of existing multimodal options between Downtown and Hill • Exploration of a broader marketing effort in partnership with Visit Boulder to amplify transportation connections In addition to these short-term improvements, the City Council approved $1.4 million in the 2025 Budget to expand investments across University Hill and the surrounding areas. The project will improve the medians along Broadway adjacent to the Hill district. This will include repairing and replacing irrigation systems, installing trees and low shrubs, and exploring art installations. Other planned improvements, shaped through public engagement later this year, will include enhanced landscaping, improved tree plantings, upgraded crosswalks, additional pedestrian-scale lighting, and other features that elevate the pedestrian experience and strengthen the visual connection to Downtown. This is all in addition to other regular maintenance and improvement efforts in both districts and throughout the Civic Area. Broader improvements in lighting and connectivity throughout the area are planned as a part of the Civic Area project, including future enhancements to the Arboretum path connection. Further, community engagement throughout the Civic Area project has emphasized the importance of safety and activation in improving overall vibrancy of the entire area. While short-term and current planned investments will help to that end, it is clear that additional resources will be necessary to address overall needed investments and sustained operational support in the years to come. Overview of Improvement District Tools To advance initiatives like the ones mentioned above and to support community goals, the city relies on urban management tools that help fund and manage improvements in commercial districts. One of the key tools the city has historically used to support some of these areas is through General Improvement Districts. A GID is a designated area in which property owners agree to pay an additional tax, applied as a mill levy, for improvements and services within the district. These funds are used for things like

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infrastructure, public amenities, and economic development efforts. GIDs allow focused management and funding within specific districts to address the needs of commercial areas and promote economic vitality. While GIDs provide critical funding, they are not the only tool available for urban management. Another mechanism is a Downtown Development Authority (DDA), which is enabled by state legislation and acts as a quasi-public entity that can provide organization and financing for downtown revitalization efforts, including public improvements, marketing and promotion, and economic development that focus on the central business district’s vitality and attractiveness. DDAs unite businesses, property owners, and other civic partners such as chambers of commerce and local government to create a self-sustaining organization designed to champion downtown for the long term. DDA projects and operations are typically funded through Tax Increment Financing (TIF) and/or an assessment of up to 5 mills within the district, both of which must be voted on by property owners, commercial tenants, and residents in the district as well as City Council. TIF does not raise tax rates but allows a DDA to capture future increases in sales and property tax revenue within the district to help finance improvement projects, programs, and services. In a DDA, TIF lasts for an initial period of 30 years, followed by the option to extend in 20-year increments under additional conditions. DDA mill levies are typically utilized to fund administration and operation of the district, including dedicated staff. DDAs have the ability to bond but have no taxing power beyond the possible 5 mills and no power of eminent domain. TIF operates by establishing a “base” property valuation for a specific area at time of establishment. Property tax revenues generated from the increased property value above this base (the “increment”) are allocated to the DDA (this includes revenue that would be collected by all overlapping taxing entities). The DDA can invest and borrow against this revenue for a period of 30 years with up to two 20-year renewals. DDAs can also use TIF on sales tax revenues. DDAs are governed by a board of directors of five to eleven members comprised of district stakeholders (including property owners, business owners, and residents) as well as a representative from the City, all appointed by the City Council. City Council must also approve DDA bonds. One of the first tasks for a DDA is to finalize and adopt a “Plan of Development,” which establishes the DDA’s long-term vision, goals, and strategies. This plan must align with the City’s comprehensive plan and be approved by the City Council. The adoption of a Plan of Development also serves the point in time for setting the base tax rate used to calculate the TIF. In addition to GIDs and DDAs, other urban management tools, such as Urban Renewal, provide targeted investment strategies to support economic revitalization and infrastructure improvements in underdeveloped areas. While the City of Boulder has an established Urban Renewal Authority (BURA), activating this tool for a new project

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would require appointing additional commissioners, a process that would take several months and require thoughtful consideration. The different types of Improvement Districts that the city could utilize are outlined in more detail in Attachment C. While these tools provide the framework for funding and guiding improvements, their impact is ultimately realized through projects that staff are actively working on to enhance Boulder’s commercial areas. By leveraging these tools strategically, the city can invest in infrastructure, placemaking, and economic development initiatives that create more vibrant, accessible, and connected districts. Looking Ahead: Evolving Boulder’s Commercial Districts Staff will be guided by the findings of the Improvement District Analysis, which has outlined key opportunities and challenges across Boulder’s commercial districts. PUMA’s initial work in creating district profiles (Attachment B) confirms much of what has been shared with the council over the past years, particularly regarding the need for updated strategies to support the vibrancy and strong connections between The Hill and Downtown. Our current districts are imperfect tools to address the overall need to support a healthy and vibrant area for the next few decades. The importance of these investments has never been clearer. As mentioned above, Boulder will host the Sundance Film Festival beginning in 2027. This opportunity will bring thousands of visitors to our commercial districts. To successfully support the foot traffic and economic activity associated with an event of this magnitude, it is essential to invest now in the public spaces, infrastructure, and district management tools that shape the visitor experience. To that end, our current district structures must evolve to meet these growing needs. CAGID was originally formed to build, manage, and maintain parking assets to support downtown Boulder’s economic vitality. Over time, however, its mission has expanded to include non-parking capital improvements, general maintenance, economic vitality programming, and broader district management functions. This expanded mission has created challenges in distinguishing between CAGID and BID services, the clarity of revenue streams, and for managing increasing capital maintenance liabilities. As downtown continues to evolve, it is increasingly clear that CAGID’s existing funding structure and governance mechanisms are insufficient to meet the district’s future needs. For example, the Pearl Street Mall refresh project—a critical effort to update Downtown’s most iconic space—currently has only $3 million in identified funding but will require significantly more resources to meet evolving community expectations and infrastructure needs. Without a more reliable and sustainable funding model, critical projects like this, alongside broader safety and maintenance needs, will remain underfunded. To address these shortfalls, one opportunity identified in the district analysis is for the city to explore establishing a DDA. A DDA would defer a portion of revenues to provide a flexible funding stream capable of addressing these current and

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future needs within an established area. This opportunity is expanded on in the ‘Analysis’ section of the memo. Like CAGID, UHGID was created to support commercial vitality on The Hill through providing parking infrastructure, management, and maintenance. However, existing needs and services require additional city subsidies, as the district has historically not generated sufficient revenue to cover costs. The Hill also faces unique challenges, including high business turnover, safety concerns, slower economic recovery, and an ongoing need to diversify beyond an undergraduate-focused mix of uses. While connections to Downtown and public realm improvements remain a priority, funding constraints hinder the district’s ability to implement them effectively. With this in mind, there is reason to be optimistic about the future of The Hill, especially considering the new hotel and conference center. Reinvestment strategies include but are not limited to exploring a potential DDA, targeted ways to implement the recently created Lodging Business Assessment Area (LBAA) to improve visitor experiences in this area, and sitespecific strategies for economic revitalization and redevelopment, including the 14th Street lot. BJAD includes the two overlapping districts, BJAD-Parking (BJAD-P) and BJADTransportation Demand Management (BJAD-TDM). Both these GIDs were established to encourage a walkable, transit-rich district to support sustainable development and multimodal connectivity. That has led to collaborative capital investments on parking and transit services for residents and workers in the district, including Boulder Clean Commute, shared auto and bicycle service, and other programs. Challenging the goal of a transit-rich development is the incomplete network of public transportation that was intended to be centered in Boulder Junction. The area is also still experiencing its growing pains, as new residential, office, and retail spaces come online and fill up, and the district’s role in Boulder Junction Phase II remains unclear. Additionally, Commission discussions have raised concerns about appropriate mill levy levels given that funding levels exceed planned programming and capital needs, as well as the administrative complexity of managing overlapping districts. These challenges can be addressed through the exploration of merging the BJAD districts and exploring a potential expansion to capture Phase II development. Additionally, this may include assessing a mill levy reduction for BJAD-P. Emerging Opportunities for New Districts As Boulder looks toward future growth and development, several key areas have emerged as opportunities for transformation. Many of these commercial areas will be further explored in the Commercial Areas Blueprint, but there are areas that could benefit from more immediate potential district structures or improvements that could enhance their functionality, accessibility, and overall contribution to the city’s commercial vibrancy in the near-term. The following areas and opportunities are tied to larger goals of improving infrastructure and connectivity, supporting economic growth, and fostering community engagement.

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The Civic Area, centrally located in downtown Boulder, has long been a focal point for civic engagement and public events. It plays a central role in enhancing Boulder’s cultural landscape. Currently, the space does not maximize its potential as a connector between key downtown areas, nor does it effectively serve as a vibrant year-round destination. While the Civic Area is central to the city, it lacks consistent visitation and public amenities that make it a prominent community hub. Opportunities for the Civic Area include revitalization through integrating increased space activation opportunities, enhanced recreation spaces, stronger connection to natural open spaces, and the improvement of accessibility to ensure the key space remains a welcoming, vibrant place for all. Expanding its use for year-round cultural activities will strengthen its position as a community anchor. As council recently discussed in their conversation on the Civic Area Phase II update, investment in this place can reinvigorate the space, affirming the Civic Area rea as the heart of Boulder for major events and activities. However, there is a significant, unfunded need for additional resources to fully realize this vision. Currently, there are safety and operations gaps, for example, the Ambassador program does not cover the Civic Area and the existing infrastructure does not support the level of activation needed to make a place safe and welcoming. A DDA could help address many of the challenges the Civic Area faces by providing a sustainable funding source to support enhanced operations, maintenance, and programming. The development of the Western City Campus, located in the Alpine-Balsam area across from the commercial area in Central Boulder, represents a key opportunity for the city to enhance its infrastructure and support surrounding commercial uses. This campus will house various city staff and services, and it is expected to significantly increase the number of employees and visitors in the area. One of the primary challenges this development presents is the need for infrastructure and mobility improvements, particularly around parking and transportation options. As the area is transformed, addressing these concerns will be critical to ensuring that the area is accessible and welcoming for nearby residents, city staff, visiting community members, contributing to the success of the surrounding businesses. Opportunities to support this development include improving pedestrian and bike connections, enhancing public transportation access, and creating spaces that foster connections between the campus and nearby commercial areas. This will ensure that the growth of the Western City Campus contributes positively to the surrounding neighborhood and enhances the area's economic vitality. The 55th & Arapahoe area presents a unique opportunity for transit-oriented development, offering a location with the potential for large-scale transformation. Its proximity to a major planned transit corridor and history as a major employment center creates opportunities to introduce housing and mixed-use development that aligns with Boulder’s goals of sustainability and economic growth. This vision is outlined in the East Boulder Subcommunity Plan which includes policies to achieve a greater mix of uses and transportation enhancements while supporting the existing business, production, and light industrial activities of the area.

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ANALYSIS As documented, existing city funding, including GIDs, are not adequate to support the needed investments mentioned above. Complementary to the city’s long-term financial strategy work, this improvement district analysis provides financial and structural options to support the vibrancy of our commercial areas for the next several decades. Below are recommendations designed to optimize the structures, responsibilities, and financial resources of current districts, while also exploring new tools and areas for potential district creation. The goal is to address gaps in funding planned projects, governance, and services, ensuring that Boulder’s commercial areas remain vibrant, wellsupported, efficiently managed, and prepared for future growth. To ensure the viability of these recommendations, staff have worked with PUMA to evaluate their potential for success in meeting identified challenges and opportunities, including their long-term financial capacity and impact on fund health. i.

Immediate Actions (6-12 Months):

Explore the Creation of a DDA: Goal: Explore a long-term, sustainable funding and governance tool to support largescale infrastructure investments, economic development, and public space improvements from The Hill through the Civic Area and Downtown to the Western City Campus. Establishing a DDA is a complex but potentially transformative initiative with the potential to help finance civic and private improvements throughout the city’s core districts. A DDA could serve as a powerful tool to fund capital projects, programming, and ongoing operations and maintenance. It could include Pearl Street Mall enhancements, improvements to the Civic Area to support Phase II redevelopment, and stronger connections between Downtown and The Hill. Public safety improvements, particularly in the Civic Area, would also be a priority, ensuring that visitors and residents feel comfortable in these public spaces. Boulder’s downtown and surrounding districts must be prepared to meet the growing expectations of residents, businesses, and visitors, particularly with the arrival of the Sundance Film Festival in 2027. This major cultural event will bring increased foot traffic and a heightened demand for high-quality public spaces, infrastructure, and services. While the exact boundaries of such an entity will be studied in the next phase, a DDA could potentially encompass the entire footprint of the downtown, including the Broadway corridor from the Hill to Alpine-Balsam. The city currently lacks a funding mechanism to support the long-term infrastructure improvements, public space enhancements, connections, and operational support needed in these areas. A DDA could offer a sustainable funding mechanism and governance structure to support economic development, infrastructure improvements, and business support initiatives in these key commercial areas, which currently lack coordinated district management.

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Staff, with the assistance of PUMA, are recommending further exploration of a DDA, as opposed to a broader expansion of the general improvement district structure or other tools due to several factors: • The diversity of need in this geographic area, from general infrastructure to operational and safety issues. • The overall potential benefits of investment extend beyond the downtown property owners. • The opportunity for an enhanced governance structure to support long-term investment and ongoing maintenance and operations. • Successful examples in other cities, especially in the region. A part of the future analysis will be a consideration of overlaps with CAGID and UHGID within a potential DDA, as well as the Downtown Boulder Business Improvement District (BID) in order to avoid duplication, limit the overall tax burden as much as possible, and maximize the efficiency of Boulder’s core commercial districts. The timing of the DDA implementation is crucial. TIF revenues are based on the “base” tax level, which is set using sales or property tax figures at the time the Plan of Development is adopted. To maximize the base, this needs to happen between the November 2026 vote and December 31st of that year – especially since the Sundance Film Festival’s first year in Boulder in 2027 is likely to drive a significant increase in sales tax revenue. Another key consideration in the DDA formation process would be the potential financial impact of utilizing TIF on a variety of taxing districts utilizing property tax revenues, including the city’s property tax supported funds, including the General Fund, Boulder Valley School District, Boulder County, and the Boulder Public Library District. TIF would divert a portion of future increases in property tax revenue within the district boundary from these entities to the DDA, and discussion with these entities will be a key component of the DDA formation process. To explore the feasibility of creating a DDA in Boulder, a phased approach is recommended. A phased DDA formation process typically takes between 12 and 15 months and could be timed around the November 2026 election. Steps in a phased DDA formation process would include: 1. Community Engagement & Financial Analysis: During the first phase of DDA formation, engagement with district stakeholders (i.e. affected businesses, property owners, and residents) and city leaders (staff and elected officials) is essential. The goal of this targeted community engagement would be to determine improvement priorities for a prospective DDA, educate stakeholders about the DDA mechanism, and determine the level of support for the concept by both affected stakeholders and city leadership. Particularly important to this targeted outreach will be with the other overlapping taxing entities, Boulder County, the Boulder Valley School District, and the Boulder Library District. As priority improvements and programs become clear, sales and property TIF projections would be developed to determine if a prospective DDA can generate

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sufficient increment to fund priority improvements. Following community engagement and financial analysis, a definitive recommendation for moving forward would be provided. 2. Plan of Development & Governance: If a DDA is determined to be feasible, a Plan of Development would be drafted that provides a menu of services and improvements, identifies potential project opportunities, and addresses the operational parameters of the DDA. The Plan of Development would be informed by broad community engagement with district stakeholders and the broader community. It is anticipated that the Boulder Valley Comprehensive Plan (BVCP) update process could also help inform the Plan of Development. While it is recommended that the Plan of Development be developed prior to forming the DDA, it is not finalized and adopted until after the DDA is successfully formed. Additionally, potential governance structures will be identified and roles and responsibilities will determined to ensure efficiency and prevent duplication across the various overlapping entities, including the GIDs, the BID, and other city operations. 3. Legal Process to Form the DDA: The final phase is the legal process to form the DDA, which requires a City Council ordinance and a November TABOR election among electors within the district boundary. Action Steps: • Phase 1: Community Engagement & Financial Analysis o Develop TIF and mill levy revenue projections to determine funding capacity. o Evaluate the impact on TIF on overlapping districts to ensure financial feasibility and mitigate concerns. o Conduct extensive stakeholder engagement (businesses, property owners, impacted taxing entities, and others) to assess support and priorities • Phase 2: Plan of Development & Governance o Draft a Plan of Development outlining key projects, service areas, and governance structures. o Ensure alignment with the Civic Area governance process to integrate investments with planned Phase 2 construction. o Refine district boundaries to maximize financial efficiency and determine impact on existing districts (CAGID, UHGID, the BID). • Phase 3: Legal Formation & Election Process o Prepare necessary City Council ordinances for DDA formation. o Coordinate with stakeholders to develop ballot initiative in November 2026. o Formally establish a DDA and set TIF before December 31, 2026, securing maximum financial benefit before Sundance 2027. By establishing a DDA, Boulder can secure a powerful, long-term funding mechanism that provides the downtown area with the potential to continue as the regional economic engine for the next several decades.

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Clarify Central Area General Improvement District (CAGID) and Downtown Boulder Business Improvement District (BID) Services: Goal: Eliminate inefficiencies and clarify responsibilities to improve business support, meet community need for levels of service, and improve the efficiency of operations. The current overlap between the services provided by CAGID and the BID creates inefficiencies and confusion among stakeholders in Downtown Boulder. By clearly defining and aligning the responsibilities of each district, the city can eliminate redundancies, improve service delivery, and provide clarity to businesses about where to seek support. This clarification will also help streamline operations, making the districts more effective and responsive. A comprehensive inventory of services will be needed, along with input from key stakeholders such as the Downtown Boulder Partnership and City staff. Action Steps: • Conduct a service inventory to assess overlap and gaps. • Engage with stakeholders, including Downtown Boulder Partnership, to draft an implementation plan. Alternative Strategies If a DDA is not feasible, or if council does not support further exploration of a DDA, other structures need to be explored to address the needs within key commercial areas. Below staff outlines several potential other options in lieu of DDA creation. De-Brucing to Increase GID Mill Levies in CAGID & UHGID Goal: Ensure sustainable funding for infrastructure and services by removing revenue restrictions imposed by TABOR. If the DDA initiative is not pursued, CAGID and UHGID may require additional revenue to support critical infrastructure and services. However, the current mill levies are limited by Taxpayer Bill of Rights (TABOR) restrictions and would require voter approval to increase. As an example, for the 2025 budget year, CAGID’s current 3.743 mills produced $1,534,231, but without TABOR limitations, a 9.990 mill levy would have generated $4,094,835. Similarly, UHGID’s 1.726 mills produced $38,957, while an unrestricted 4.984 mill levy would have generated $112,493. The act of ‘de-Brucing’ eliminates the spending limit established by TABOR, allows the city to retain and spend all of its revenue collected under current taxing rates, and creates the opportunity for future mill levy increases. The city will need to gauge voter support and ensure transparency in the process to avoid concerns about increased taxes, while assessing if a TABOR de-Brucing vote could be a viable funding solution. Additional revenue generated through “de-Brucing” would be limited to expenditures aligned with the original purpose of the districts unless also changed by voter action.

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Action Steps: • Evaluate funding needs for CAGID and UHGID based on long-term infrastructure and service priorities. • Conduct community engagement to gauge support for a TABOR de-Brucing vote. • Develop a ballot measure to increase mill levies if deemed necessary. Citywide Bond Issue or Tax Increase for Downtown Investments: Goal: Secure long-term, sustainable funding for critical infrastructure improvements and public space enhancements in Downtown Boulder. As described earlier, the needs within Downtown Boulder including the surrounding Civic Area require ongoing investments in infrastructure, public spaces, and mobility improvements to support economic vitality and long-term sustainability. If a DDA is not pursued, some of these unfunded needs could be explored as a part of the city’s broader Long-Term Financial Strategy work, including the 2026 ballot strategy based on planned community input. Action Steps: • Assess capital improvement priorities that require new funding. • Analyze potential funding mechanisms such as a bond issue, dedicated sales tax, or property tax increase within the city’s long-term financial strategy. • Evaluate opportunities to incorporate Downtown improvements into larger citywide infrastructure ballot measures to maximize funding efficiency. • Engage with voters to assess support for a potential ballot measure. Analyze Cost Recovery for Parking & UHGID Services: Goal: Reduce reliance on the General Fund to support UHGID’s long-term financial viability. UHGID services are currently heavily subsidized by the General Fund, but there are opportunities to increase district-generated revenue to cover operating costs. By reevaluating parking-related fees and other revenue sources, the city can reduce dependence on the General Fund while ensuring the financial sustainability of UHGID. Action Steps: • Reevaluate permit parking costs to ensure they reflect market conditions and district service expenses. • Explore expanding paid parking zones in high-demand areas to generate additional revenue. • Analyze alternative revenue sources such as special event parking fees, loading zone permits, or other partnerships with private operators.

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Explore a Pearl Street Public Improvement Fee (PIF): Goal: Create a sustainable funding source for maintenance, programming, and infrastructure improvements Downtown. A Public Improvement Fee (PIF) could provide a dedicated funding stream for improvements along Pearl Street, such as infrastructure, maintenance, and programming. This fee would be added to sales tax rates in the affected area, and would require property owner, business, and resident consent through a TABOR election. The City will need to ensure that the PIF model is transparent, equitable, and accepted by all stakeholders to be effective. Action Steps: • Assess the feasibility of implementing a PIF along Pearl Street. • Work with business owners and property managers to gauge willingness to participate and community goals for use of the potential funds. • Explore legal and administrative mechanisms for implementing a transparent and equitable PIF model. Urban Renewal or other Site-Specific Tool for Development: Goal: Transform underdeveloped sites to enhance district-wide vibrancy using the Boulder Urban Renewal Authority (BURA) or other site-specific tools such as a Metropolitan District. For properties or underutilized areas that meet “blight” criteria, urban renewal could be utilized to fund redevelopment, infrastructure, and improvements. Urban renewal utilizes Tax Increment Financing (TIF) to address areas that meet the state’s definition of blight, which includes factors such as deteriorating infrastructure, underutilized properties, or economic stagnation. TIF dollars can be used on a site-specific or district scale to finance the issuance of bonds; reimburse developers for a portion of their development costs; acquire property; and make public improvements to support redevelopment efforts. To utilize urban renewal, the City will need to identify suitable properties and ensure the redevelopment aligns with sustainable development goals and community benefit. BURA could facilitate redevelopment of these properties. It is important to note that TIF-based tools cannot overlap. Therefore, Urban Renewal cannot be utilized within the boundaries of a DDA. In areas where urban renewal may not be the best fit, other site-specific tools – such as a Metropolitan District – could provide alternative funding mechanisms to support infrastructure and redevelopment. The city would need to assess the most effective tool based on site conditions, financial feasibility, and alignment with community goals. Action Steps: • Identify underutilized properties or redevelopment sites that meet urban renewal eligibility.

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• • •

ii.

Assess potential for TIF, Metropolitan Districts, or other mechanisms to support infrastructure and economic development projects. Identify the steps required to expand the use of BURA in targeted areas or implement alternative site-specific tools. Work with stakeholders to develop redevelopment plans that align with community goals.

Short-Term Actions (12-24 Months):

Explore Merging BJAD-P and BJAD-Transportation Demand Management (BJADTDM) and Identify GID’s Role in Boulder Junction Phase II: Goal: Enhance efficiency, sustainability, and resource allocation in Boulder Junction while supporting the anticipated future growth and development as a result of Boulder Junction Phase II. Currently, BJAD-P and BJAD-TDM operate as separate entities, leading to inefficiencies in funding allocation and governance. Merging these two districts would streamline the approach to managing transportation and mobility in Boulder Junction, allowing for greater flexibility and better resource allocation. Further legal and financial analysis will be needed to evaluate the merger’s viability and implications for governance and funding. Within a consolidated district, the ongoing distinction between the use of funds for TDM versus parking activities could be established through annual budget and work program allocations. Furthermore, as Phase II rolls out, additional stakeholders may enter the district, creating an opportunity to reassess the role of BJAD and ensure its structure aligns with future mobility and economic development goals. Action Steps: • Conduct a legal and financial feasibility analysis to assess the benefits and challenges of merging BJAD-P and BJAD-TDM. • Identify and evaluate the role of the BJAD and other potential public financing tools in Phase II infrastructure, mobility, and parking needs. • Engage with property owners, businesses, and stakeholders to evaluate potential concerns. • Develop a plan for a transition and Phase II work if deemed viable. Analyze Impacts and Steps to Reduce BJAD-P Mill Levy: Goal: Minimize financial burden on property owners while maintaining financial sustainability. Property owners within BJAD-P currently face dual mill levies – one for parking and one for TDM. With the parking garage debt paid off and reserve funds growing, it may be

Item 2 - District Analysis Results and Recommendations

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financially viable to reduce the mill levy. However, any decision regarding the mill levy reductions should be considered within the context of merging the BJAD-P and BJADTDM districts. A detailed financial analysis, including the impacts of merging the districts, will be needed to assess the viability of a mill levy reduction and its impact on the district’s ability to maintain infrastructure and evolving needs. Action Steps: • Conduct a legal and financial feasibility analysis to determine the implications of reducing the mill levy in the context of merging BJAD-P and BJAD-TDM. • Engage with BJAD businesses and property owners to discuss potential levy reductions and the merger process. • Develop a phased strategy for mill levy adjustments, aligned with the broader merger analysis, based on financial modeling and stakeholder input. Lodging Business Assessment Area (LBAA) Partnership: Goal: Enhance the visitor experience and connectivity between Downtown and The Hill through tourism-supported funding mechanisms. With the addition of new hotels such as Moxy Boulder and Limelight Hotel & Conference Center, the recently established LBAA could be encouraged to allocate funding to improve the visitor experience between Downtown and the Hill through wayfinding, streetscape enhancements, and connectivity improvements. This funding could be used in the near-term to improve connectivity between Downtown and the Hill while the feasibility of a DDA is explored. The City will need to establish an effective partnership model with hotel operators and ensure sustainable funding for improvements. Action Steps: • Begin a conversation with the board of the LBAA and Visit Boulder, with a focus on identifying potential revenue from new and existing hotels to establish a dedicated funding stream specifically for projects between University Hill and Downtown. • Develop a partnership model with hotel operators to ensure alignment with visitor experience goals. NEXT STEPS Commercial Areas Blueprint The goal of the entire body of work is to establish supportive and appropriate funding mechanisms to successfully realize the vision within commercial areas. Even with new and expanded funding mechanisms, there is a need to establish near-term priorities and a long-term strategy to ensure alignment and guide city work planning. As a key step, staff will move forward on refining the long-term strategy through the Commercial Areas

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Blueprint. Similar to complementary work in the Economic Vitality Strategy update and the Arts Blueprint, the purpose of the document is to provide operational strategic direction in alignment with the Boulder Valley Comprehensive Plan (BVCP). This work will be closely aligned with the BVCP update, ensuring that the Blueprint responds to broader citywide goals especially around policies related to regional and neighborhood centers. Staff will engage with key stakeholders, including city departments, business owners, and community partners, to ensure the Blueprint’s recommendations reflect the diverse needs of Boulder’s commercial areas. Stakeholder feedback will help refine priorities related to economic resilience, sustainability, and equity. Based on council feedback, staff will also advance planning work necessary to support the short-term recommendations and action steps related to improvement district tools. For instance, if council expresses interest in the further exploration of a DDA, staff will immediately begin financial modeling and extensive stakeholder engagement to support the advancement of this work. Staff anticipates that the creation of a Plan of Development related to the DDA could easily be folded into the Commercial Area Blueprint work (i.e. incorporated as a specific section of the broader Blueprint). Staff will continue to update council as this work progresses, seeking input and direction throughout 2025 and into 2026 to approve any new structures, funding mechanisms, or policy changes stemming from these analyses. As a part of the analysis of each tool and embedded within the Blueprint process is a commitment to utilize the Racial Equity Instrument. The importance of aligning community engagement related to the Blueprint to the BVCP update process is to ensure that diverse voices and perspectives are captured and understood. Embarking on a separate engagement process could risk overburdening certain populations with “over” engagement and would likely not attract the breadth of community perspectives being brought into the BVCP update process. All potential tools will be evaluated based on the potential benefits and burdens on historically excluded communities, especially micro and minority-owned businesses. This analysis will be utilized by staff in developing recommendations and the analysis will be summarized and brought forward to council as a part of future discussions. While a specific timeline will still be identified, it is anticipated that the next council touchpoint will be to review the analysis and feasibility of short-term tools, especially the potential boundaries and scope of a DDA. This would likely also be an opportunity to review potential governance structures, communication planning, and financial implications. The current tentative timing is a council discussion in late Q3/early Q4 2025.

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ATTACHMENTS Attachment A: Map of Boulder's GIDs Attachment B: District Profiles Attachment C: Types of Improvement Districts

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Attachment A - Map of Boulder’s GIDs

CAGID

UHGID

BJAD-P

Item 2 - District Analysis Results and Recommendations

BJAD-TDM

20

Attachment B - District Profiles

Central Area GID (CAGID) District Profile Background/Genesis

CAGID was created in 1970 to provide parking infrastructure and related services to the downtown area in order to more easily attract employees and visitors. To accomplish this, the district built six mixed use parking garages, one surface parking lot, and on-street paid parking facilities eliminating the need for each building downtown to have their own parking lot and allowing improved streetscapes and other infrastructure. CAGID oversees five parking garages with a total of 2,209 spaces, four surface parking lots, and 165 on-street pay stations. In the 50+ years since CAGID’s genesis, its funding scope has expanded beyond just parking maintenance to include complementary programs such as: •

•

• •

Increasing mobility options in the form of EcoPasses for downtown employees, the Boulder Clean Commute program, the HOP high frequency circulator, the Lime E-Scooter Expansion Plan, and the Parking & Access Signage Refresh Project. Supporting economic vibrancy by expanding options for outdoor dining, mobile vending carts for small business operators, an affordable retail program, and supporting special events. Leading and assisting in beautification and aesthetic-driven projects such as tree planting, murals and crosswalk designs, public art, and powerline undergrounding. Ambassador program – in collaboration with Downtown Boulder Partnership, providing services to make the area cleaner and safer, including trash collection, graffiti removal, providing information to residents and visitors, giving directions and recommendations, and addressing unfavorable activities.

Governance structure: CAGID, along with the Department of Community Vitality, manages parking operations and related services, while the Downtown Management Commission (DMC) manages and advises the business affairs of the GID. The DMC includes five Council-appointed members with five-year terms. Three of those members must own real property or represent real property owners in Downtown and two members are residents representing the community-at-large. Assessment methodology: 3.743 mill levy

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Attachment B - District Profiles

Key Market Indicators Key market indicators are being provided to look at existing economic conditions and changes since 2019, considered the pre-pandemic base year.

Commercial Real Estate Trends Retail Vacancy (2024) 15.0% Inventory (buildings) 89 Inventory (sf) 768,752 Net absorption (sf) (14,258) Market sale price per sf $462.00 NNN rent overall $40.32 Office Vacancy (2024) 19.0% Inventory (buildings) 102 Inventory (sf) 2,496,980 Net absorption (sf) (18,553) Base rent overall $27.43 Multi-family Inventory (buildings) 9 Inventory (units) 253 Vacancy 32.0% Asking rent per unit $4,020 Data source: Costar

CAGID Retail Vacancy 16% 14% 12% 10% 8% 6% 4% 2% 0% 2016 2017 2018 2019 2020 2021 2022 2023 2024

CAGID Office Vacancy 25% 20% 15% 10% 5% 0% 2016 2017 2018 2019 2020 2021 2022 2023 2024

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Attachment B - District Profiles

Sales Tax Revenue 2019 $8,800,961 2020 $5,253,717 2021 $7,162,667 2022 $8,584,441 2023 $8,831,332 Change 0.3% Data source: DMC January 2024 report Property Values Total GID Value (Fiscal Year) $384,680,015 2019 $382,681,446 2020 $385,031,888 2021 $384,352,498 2022 $411,637,845 2023 $409,893,360 2024 Change 6.6% Data source: Boulder County Assessor

CAGID Total Property Values $420,000,000 $410,000,000 $400,000,000 $390,000,000 $380,000,000 $370,000,000 $360,000,000 2019

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2020

2021

2022

2023

2024

Attachment B - District Profiles

Today – Sources & Uses of Funds CAGID Sources of Funds 2019-2025 The following table and charts show trends in the sources of revenue CAGID received from 20192025, using 2019 as the pre-pandemic base year. While total revenue has largely recovered since 2020, the GID continues to receive a smaller percentage of its funds from transfers in. This indicates that CAGID is able to rely more on internal streams of revenue such as leases, rents and royalties and interest and investment earnings.

2019 (Actual) 2020 (Actual) 2021 (Actual) 2022 (Actual) 2023 (Actual) 2024 (Adopted) 2025 (Approved)

Parking Revenue

Property Tax

$7,141,719 69% $4,345,338 61% $6,018,037 67% $6,055,246 66% $4,514,795 58% $6,062,159 65% $6,299,894 65%

$1,284,714 12% $1,357,621 19% $1,333,187 15% $1,381,857 15% $1,493,258 19% $1,440,980 15% $1,469,800 15%

Leases, Rents and Royalties

$343,000 4% $482,540 5% $156,000 2% $497,010 5% $504,465 5%

Interest & Investment Earnings

Specific Ownership & Tobacco Tax

Other Revenues

Transfers In

TOTAL (sources)

$208,581 2% $221,845 3% $205,387 2% $221,112 2% $487,662 6% $226,811 2% $502,976 5%

$70,050 0.7% $67,969 0.8% $62,894 0.7% $69,767 0.9% $64,150 0.7% $65,433 0.7%

$63,773 0.6% $84,141 1% $70,419 0.8% $64,588 0.7% $94,142 1% $64,590 0.7% $65,559 0.7%

$1,613,285 16% $1,146,104 16% $971,104 11% $968,819 10% $968,819 12% $968,819 10% $723,753 8%

$10,382,122

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$7,155,049 $9,009,103 $9,237,056 $7,784,443 $9,324,519 $9,631,800

Attachment B - District Profiles

CAGID Sources of Funds (% of Total) 2019 2020 2021 2022 2023 2024 2025 0%

10%

20%

30%

40%

50%

60%

70%

80%

Parking Revenue

Property Tax

Leases, Rents and Royalties

Interest & Investment Earnings

Specific Ownership & Tobacco Tax

Other Revenues

90%

100%

Transfers In

CAGID Sources of Funds (Amounts) $8,000,000

$12,000,000

$7,000,000

$10,000,000

$6,000,000 $8,000,000

$5,000,000 $4,000,000

$6,000,000

$3,000,000

$4,000,000

$2,000,000 $2,000,000

$1,000,000 $0

2019

2020

2021

2022

2023

2024

2025

TOTAL (sources):

Parking Revenue

Property Tax

Leases, Rents and Royalties

Interest & Investment Earnings

Specific Ownership & Tobacco Tax

Other Revenues

Transfers In

$0

This chart visualizes the total amount of funds gained with a bar chart that corresponds to the right axis labels and the amount of each source with a line chart that corresponds to the left axis labels.

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Attachment B - District Profiles

CAGID Uses of Funds 2019-2025 The following table and charts show trends in the uses of CAGID funds from 2019-2025, using 2019 as the pre-pandemic base year. Uses have shifted since 2019, with a higher proportion of spending going towards the Capital Improvement Program (CIP) and a lower proportion going to customer service and administration, with debt service completely eliminated following 2023. Projects that used CIP funds over the past year include building freeze recover at 1500 Pearl, a facility assessment of the Spruce Garage, installing parking garage capacity display signs, replacing stormwater pipes behind the 1500 Pearl garage, and stump removal and weed control on Broadway medians.

2019 (Actual) 2020 (Actual) 2021 (Actual) 2022 (Actual) 2023 (Actual) 2024 (Adopted) 2025 (Approved)

Admin

Customer Service

District Mgmt

Parking & Access

Debt Service

$1,452,711 23% $1,010,163 14% $1,183,390 19% $1,178,849 20% $1,163,470 15% $1,657,043 14% $1,496,934 12%

$788,025 12% $938,268 13% $826,632 13% $789,584 14% $728,906 10% $750,412 6% $618,542 5%

$1,454,198 24% $1,327,915 18% $749,635 12% $1,077,928 19% $1,393,584 18% $2,372,322 20% $2,206,043 18%

$1,258,827 20% $863,836 12% $752,943 12% $817,491 14% $942,127 12% $1,129,624 10% $1,630,834 13%

$827,193 13% $836,839 11% $827,883 14% $829,682 14% $835,307 11% -

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Cost Allocation & Transfers $330,541 5% $335,218 5% $335,218 5% $324,155 6% $420,471 6% $787,082 7% $1,061,882 8%

Capital Improvement Plan $314,824 5% $2,086,900 28% $1,625,685 26% $795,712 14% $2,104,038 28% $4,930,000 42% $5,550,000 44%

TOTAL (uses) $6,426,319 $7,399,139 $6,301,387 $5,813,401 $7,587,903 $11,626,483 $12,564,235

Attachment B - District Profiles

CAGID Uses of Funds (% of Total) 2019 2020 2021 2022 2023 2024 2025 0%

10%

20%

30%

40%

50%

60%

70%

80%

Administration (Economically Vital)

Community Vitality Customer Service

Economic Vitality & District Management

Parking & Access

Debt Service

Cost Allocation & Transfers

90%

100%

Capital Improvement Program

CAGID Uses of Funds (Amounts): $14,000,000

$6,000,000

$12,000,000

$5,000,000

$10,000,000

$4,000,000

$8,000,000 $3,000,000 $6,000,000 $2,000,000

$4,000,000

$1,000,000 $0

$2,000,000

2019

2020

2021

2022

2023

2024

2025

$0

TOTAL (right axis)

Administration (Economically Vital)

Community Vitality Customer Service

Economic Vitality & District Management

Parking & Access

Debt Service

Cost Allocation & Transfers

Capital Improvement Program

This chart visualizes the total amount of funds used with a bar chart that corresponds to the right axis labels and the amount of each use with a line chart that corresponds to the left axis labels.

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Attachment B - District Profiles

Future – Plans, Projects, & Partnerships Looking to the future, previous planning efforts and key partnerships will be instrumental in shaping the evolution of CAGID. Summary of planning efforts/past plans related to the district: Many of the City of Boulder’s past planning efforts relate to, and will impact, the CAGID area. Below is a summary of common themes found in plans that apply to downtown. The reviewed plans include Boulder Valley Comprehensive Plan 2020 Mid-Term Update, Boulder Transportation Master Plan (2019), Boulder Parks and Recreation Master Plan Update (2022), Downtown Boulder Vision Plan (2022), and Central Broadway Corridor Design Framework (2017). 1. Connect to other districts and destinations a. CAGID is a key activity center along Broadway and has the opportunity to seamlessly connect to other activity centers on the corridor, such as University Hill and the future Western City Campus (expected to open in 2027). b. Improve multi-use path connections to the University of Colorado and University Hill. 2. Expand mobility options a. Vision to develop an intermodal mobility hub Downtown that connects with the University of Colorado, Boulder junction, and the region as a whole. b. Proposed bike and pedestrian enhancements in Downtown and on the surrounding streets. 3. Continue activating the Pearl Street Mall and surrounding areas a. Reimagine the 1300 block as a space for events, enhanced public amenities, and an expanded visitor center. b. Activate the 1400 block with artwork, seating and shade structures, and interactive and temporary play equipment. 4. Enhance streetscaping, placemaking, branding, and identity a. Opportunity to designate a historic district in some parts of Downtown. b. Increase tree canopy and shade structures, adaptable signage and wayfinding, outdoor seating, and temporary events. c. Activate surface parking lots and alleys. Key Projects Likely in the Near-Term: •

Capital Improvement Projects: o Garage repairs and improvements, including security enhancements o Garage Mobility Hub Project – converting CAGID parking garages into multifunctional mobility hubs o Powerline undergrounding – working with Xcel to move powerlines underground to mitigate risks and enhance Downtown’s sense of place o Streetscaping enhancements, including the Pearl Street Mall Refresh o Increasing public art through the 1% for Public Art program o Affordable Commercial Capital Program – support for small businesses impacted by the pandemic and increasing rents

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Attachment B - District Profiles

•

o HVAC replacement at the 1500 Pearl building Other Projects: o When the Western City Campus opens at the Alpine-Balsam site (projected to occur in 2027), the City-owned buildings between Canyon Blvd and Arapahoe Ave from 9th Street to 14th Street will be vacated. The City plans to fill those spaces Downtown with civic and commercial development that fosters activity, collaboration, and innovation.

CAGID Key Partnerships: •

•

•

Downtown Boulder Partnership (DBP) o DBP is a 501(c)6 organization that receives revenue from business and individual memberships to “promote the civic, economic and commercial vitality of downtown Boulder.” Downtown Boulder Business Improvement District (BID) o The Downtown Boulder BID is a taxing district that was formed in 1999 “to cultivate a cleaner, safer and more vibrant downtown community.” BID services include maintenance services and marketing and communication programs. Downtown Boulder Community Initiatives (DBCI) o DBCI is a 501(c)(3) nonprofit formed in 2016 “to engage visitors and locals alike through arts, culture, innovation and inclusive, community-driven experiences in downtown Boulder.”

DBP, Downtown Boulder BID, and DBCI are all housed under the umbrella Downtown Boulder organization.

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Attachment B - District Profiles

University Hill GID (UHGID) District Profile Background/Genesis

UHGID was created in 1970 as property owners wanted to tax themselves in order to purchase land to increase available parking options for customers of the area, as well as provide other maintenance services. UHGID owns and manages a 42-space off-street public parking lot at 14th Street & College Avenue, referred to as the “14th Street Lot”. UHGID also owned a public parking lot on the corner of Broadway and Pleasant Street before it was sold in 2021 and redeveloped as the Moxy hotel. The funding scope expanded in 1985 to include additional services for the district. Today, UHGID funds programs such as: • • • • •

Pedestrian, bicycle, and transit amenities and incentives Placemaking and aesthetic enhancements Maintenance and improvements of the right-of-way and facilities Other revitalization strategies on The Hill Hill Ambassador program – in collaboration with Downtown Boulder Partnership and the University of Colorado Boulder, providing services to make the area cleaner and safer, including trash collection, graffiti removal, providing information to residents and visitors, giving directions and recommendations, and addressing unfavorable activities.

Governance structure: The business affairs of UHGID are administered by the University Hill Commercial Area Management Commission, which is composed of five Council-appointed members with five-year terms. Three of those members must own real or personal property, reside in the district, or represent a real or property owner in the district and two members are for citizens-at-large.

Assessment Methodology: 1.726 mill levy

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Attachment B - District Profiles

Key Market Indicators Key market indicators are being provided to look at existing economic conditions and changes since 2019, considered the pre-pandemic base year.

Commercial Real Estate Trends Retail Vacancy (2024) 9.1% Inventory (buildings) 22 Inventory (sf) 191,428 Net absorption (sf) 557 Market sale price per sf $422.00 NNN rent overall $32.72 Office Vacancy (2024) 20.7% Inventory (buildings) 3 Inventory (sf) 31,240 Net absorption (sf) 0 Base rent overall $16.54 Multi-family Inventory (buildings) 3 Inventory (units) 40 Vacancy 1.5% Asking rent per unit $3,468 Data source: Costar

UHGID Retail Vacancy 10% 8% 6% 4% 2% 2016 2017 2018 2019 2020 2021 2022 2023 2024

0%

UHGID Office Vacancy 25% 20% 15% 10% 5% 0% 2021

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2022

2023

2024

Attachment B - District Profiles

Sales Tax Revenue 2019 $1,560,362 2020 $1,141,856 2021 $1,354,331 2022 $1,318,763 2023 $1,380,202 Change -11.5% Data source: DMC January 2024 report Property Values Total GID Value (Fiscal Year) $19,478,837 2019 $19,362,624 2020 $19,424,402 2021 $20,243,961 2022 $19,676,630 2023 $22,570,729 2024 Change 15.9% Data source: Boulder County Assessor

UHGID Total Property Values $23,000,000 $22,000,000 $21,000,000 $20,000,000 $19,000,000 $18,000,000 $17,000,000

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2019

32

2020

2021

2022

2023

2024

Attachment B - District Profiles

Today – Sources & Uses of Funds UHGID Sources of Funds 2019-2025 The following table and charts show trends in the sources of revenue UHGID received from 20192025, using 2019 as the pre-pandemic base year. Since 2019, the proportion and total amount of parking revenue has steadily decreased, while the proportion and total amount of interest and investment earnings has steadily increased. 2021 was an outlier year, with a much larger total source of funding, corresponding with the $2.7M sale of the Pleasant Street parking lot where the Moxy hotel is now located.

2019 (Actual) 2020 (Actual) 2021 (Actual) 2022 (Actual) 2023 (Actual) 2024 (Adopted) 2025 (Approved)

Parking Revenue

Property Tax

Interest & Investment Earnings

$111,339 22% $122,573 25% $71,618 2% $71,875 17% $58,219 13% $79,060 18% $59,979 13%

$32,282 6% $32,763 7% $32,559 1% $32,415 8% $35,093 8% $35,880 8% $39,481 9%

$16,826 3% $17,303 3% $15,840 0.5% $47,201 11% $84,413 19% $48,320 11% $89,797 19%

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Specific Ownership & Tobacco Tax $1,622 0.3% $1,621 0.3% $1,648 0.1% $1,409 0.3% $1,695 0.4% $1,410 0.3% $1,438 0.3%

33

Real Estate Sales

Transfers In

TOTAL (sources)

$2,734,117 88% -

$350,000 68% $325,000 65% $250,000 8% $270,000 64% $270,000 60% $270,000 62% $271,034 59%

$512,069 $499,260 $3,105,782 $422,900 $449,420 $434,670 $461,729

Attachment B - District Profiles

UHGID Sources of Funds (% of Total) 2019 2020 2021 2022 2023 2024 2025 0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

Parking Revenue

Property Tax

Interest & Investment Earnings

Specific Ownership & Tobacco Tax

Real Estate Sales

Transfers In

100%

UHGID Sources of Funds (Amounts) $400,000

$4,000,000

$350,000

$3,500,000

$300,000

$3,000,000

$250,000

$2,500,000

$200,000

$2,000,000

$150,000

$1,500,000

$100,000

$1,000,000

$50,000

$500,000

$0

2019

2020

2021

2022

2023

2024

2025

TOTAL (right axis)

Parking Revenue

Property Tax

Interest & Investment Earnings

Specific Ownership & Tobacco Tax

Transfers In

$0

This chart visualizes the total amount of funds gained with a bar chart that corresponds to the right axis labels and the amount of each source with a line chart that corresponds to the left axis labels. The chart does not include real estate sales, as that only occurred in 2021.

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Attachment B - District Profiles

UHGID Uses of Funds 2019-2025 The following table and charts show trends in the uses of UHGID funds from 2019-2025, using 2019 as the pre-pandemic base year. The amounts and proportion of each use category have stayed relatively steady since 2019, though the proportion of spending on administration, customer service, and parking and access maintenance is planned to decrease in 2025. Total uses of funds is expected to increase substantially in 2025, with 58% of that spending going towards the Capital Improvement Program. Projects that may use those funds include streetscape renovations, public art/mural installations, and wayfinding signage between The Hill and Downtown.

2019 (Actual) 2020 (Actual) 2021 (Actual) 2022 (Actual) 2023 (Actual) 2024 (Adopted) 2025 (Approved)

Admin

Customer Service

District Mgmt

Parking & Access

$143,820 27% $67,078 12% $72,493 22% $68,691 13% $60,293 16% $109,899 21% $103,173 8%

$39,927 8% $44,387 8% $41,953 13% $38,163 7% $38,345 10% $79,007 15% $40,240 3%

$17,578 3% $70,185 13% $27,851 8% $33,717 7% $28,900 7% $55,261 10% $65,600 5%

$275,556 52% $121,450 23% $115,709 35% $139,619 27% $168,934 44% $203,350 39% $249,741 20%

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Cost Allocation & Transfers $48,012 9% $48,732 9% $48,732 15% $47,124 9% $52,913 14% $64,220 12% $73,100 6%

Capital Improvement Plan $185,536 35% $23,358 7% $184,258 36% $37,118 10% $15,000 3% $727,500 58%

TOTAL (uses) $524,893 $537,368 $330,096 $511,572 $386,503 $526,737 $1,259,354

Attachment B - District Profiles

UHGID Uses of Funds (% of Total) 2019 2020 2021 2022 2023 2024 2025 0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

Administration (Economically Vital)

Community Vitality Customer Service

Economic Vitality & District Management

Parking & Access Maintenance

Cost Allocation & Transfers

Capital Improvement Program

100%

UHGID Uses of Funds (Amounts): $800,000

$1,400,000

$700,000

$1,200,000

$600,000

$1,000,000

$500,000

$800,000

$400,000 $600,000

$300,000

$400,000

$200,000

$200,000

$100,000 $0

2019

2020

2021

2022

2023

2024

2025

$0

TOTAL (right axis)

Administration (Economically Vital)

Community Vitality Customer Service

Economic Vitality & District Management

Parking & Access Maintenance

Cost Allocation & Transfers

Capital Improvement Program

This chart visualizes the total amount of funds used with a bar chart that corresponds to the right axis labels and the amount of each use with a line chart that corresponds to the left axis labels.

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Attachment B - District Profiles

Future – Plans, Projects, & Partnerships Looking to the future, previous planning efforts and key partnerships will be instrumental in shaping the evolution of UHGID. Summary of planning efforts/past plans related to the district: Many of the City of Boulder’s past planning efforts relate to, and will impact, the UHGID area. Below is a summary of common themes found in plans that apply to the UHGID area. The reviewed plans include Boulder Valley Comprehensive Plan 2020 Mid-Term Update, Boulder Transportation Master Plan (2019), Boulder Parks and Recreation Master Plan Update (2022), ULI TAP Report for the 14th Street Lot (2023), Downtown Boulder Vision Plan (2022), University Hill Alley Enhancement Plan (2018) and Central Broadway Corridor Design Framework (2017). 1. Improve the pedestrian/visitor experience a. Improve cleanliness, safety, and activation of alleys b. Enhance streets with better lighting, drainage, furnishings, and vegetation. 2. Connect to other districts and destinations a. UHGID is a key activity center along Broadway and has the opportunity to seamlessly connect to other activity centers on the corridor, such as Downtown. b. Improve multi-use path connections to Downtown. 3. Develop key opportunity sites a. The main site in question is the UHGID-owned 14th Street Lot. The redevelopment of this site has the potential to catalyze further development in the district. 4. Maintain the unique character of The Hill within the district a. Balance needs and wants between the student/CU population and the broader neighborhood b. Utilize public art to showcase and celebrate the district's character Key Projects Likely in the Near-Term: •

Capital Improvement Projects: o Streetscape Renovations – A capital project to improve the medians in Broadway along The Hill district and complimented by enhancements to the pedestrian experience. This may include improvements to trees, landscaping, crosswalks, lighting, or other ideas which will be the subject of public engagement later this year.  $1.4M – ½ from general fund transfer, ½ fund balance from UHGID o Painted crosswalk at 13th & Pennsylvania (anticipated in April 2025) o Mural installation on Everyday Gas Station (April/May 2025) o Cultural Corridor Planning & Design – link cultural destinations along 13th Street to connect the Hill with Downtown Boulder o 20 new Bigbelly trash cans increase waste management efficiency o Planned sidewalk enhancements that will close the gaps along 11th Street on University Hill, a critical pedestrian corridor that connects to the Civic Area and Downtown. This improvement follows the path of the pedestrian scale lighting that

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Attachment B - District Profiles

was complete on the Hill a few years ago and will improve the walking experience along 11th Street. This work is expected to be complete this summer. •

Other Projects: o 14th Street Lot redevelopment  The ULI TAP Report recommended short-term activation opportunities such a micromobility hub, food truck area, and pop-up market, as well as longterm development programs with parking, retail/grocery, faculty housing, artist-in-residence or business incubator spaces, and/or a boutique hotel o Limelight Hotel and Conference Center, expected to open in Fall 2025

UHGID Key Partnerships: •

•

•

The Hill Merchant Association (“The Hill Boulder”) o The Hill Boulder is a 501(c)3 nonprofit “committed to renewing vibrancy of arts and culture, producing community events, and promoting year-round business in the University Hill district.” Hill Reinvestment Working Group (HRWG) o The Hill Reinvestment Working Group is a neighborhood committee of members that represent City departments, the University Hill Neighborhood Association (UHNA), the Boulder Area Rental Housing Association (BARHA), several University of Colorado departments, the Inter-Fraternity Council (IFC) and Panhellenic. The group “collaborates monthly to share information, build relationships, design programs, evaluate processes and recommend changes and improvements around ongoing issues” on The Hill. o https://bouldercolorado.gov/hill-revitalization-working-group-hrwg CU Boulder o The University of Colorado’s flagship campus is located across Broadway from UHGID. Students, faculty, and visitors of the university frequently visit the district.

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Attachment B - District Profiles

Boulder Junction Access Districts (BJAD) Profile BJAD includes Boulder Junction Access District – Parking (BJAD-P) and Boulder Junction Access District – Transportation Demand Management (BJAD-TDM). Background/Genesis

BJAD Parking

BJAD TDM

The Boulder Junction Access Districts (BJAD) were created in 2010 as a result of the Transit Village Area Plan’s Phase 1 efforts to create Boulder’s first Transit-Oriented Development (TOD). BJAD – Parking (BJAD-P) manages parking within the district, such as the parking garage that is jointly owned with the Depot Square Owners Association. BJAD – Transportation Demand Management (BJAD-TDM) supports TDM measures with additional revenue paid by properties in the district. Today BJAD funds programs such as: • •

•

Providing Boulder Clean Commute incentives and RTD EcoPasses, Boulder B-Cycle Memberships, and CarShare vouchers for residents and employees of the district Hosting events to inform residents and employees of the benefits they may receive from living and/or working in the district and educate the public about the growth and development of the area Promoting sustainable transportation and eco-friendly development to create a healthier and more livable environment

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Attachment B - District Profiles

Governance structure: BJAD is managed by a joint commission that represents both BJAD-Parking and BJAD-TDM. Each five-member commission is composed of five Council-appointed members with five-year terms. Three of those members must own real property or represent a real property owner in the district and two members are city electors who may live inside or outside of the district. Assessment Methodology: 10 mill levy for BJAD-P and 5 mill levy for BJAD-TDM. Developers also pay Payment in Lieu of Taxes (PILOT) fees for two years before property taxes are used for funding.

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Attachment B - District Profiles

Key Market Indicators Key market indicators are being provided to look at existing economic conditions and changes since 2019, considered the pre-pandemic base year.

Commercial Real Estate Trends Retail Vacancy (2024) 8.3% Inventory (buildings) 5 Inventory (sf) 60,527 Net absorption (sf) (825) Market sale price per sf $467.00 NNN rent overall $34.00 Office Vacancy (2024) 2.9% Inventory (buildings) 8 Inventory (sf) 707,788 Net absorption (sf) 3,345 Base rent overall $47.38 Multi-family Inventory (buildings) 11 Inventory (units) 1,200 Vacancy 10.4% Asking rent per unit $2,655 Data source: Costar

BJAD Retail Vacancy 12% 10% 8% 6% 4% 2% 0% 2019

2020

2021

2022

2023

2024

BJAD Office Vacancy 60% 50% 40% 30% 20% 10% 0% 2016 2017 2018 2019 2020 2021 2022 2023 2024

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Attachment B - District Profiles BJAD-TDM Total Property Values Property Values (BJAD-TDM) Total GID Value (Fiscal Year) $31,962,052 2019 $59,286,286 2020 $78,334,084 2021 $101,609,964 2022 $118,002,570 2023 $117,556,834 2024 Change 267.8% Data source: Boulder County Assessor

$140,000,000 $120,000,000 $100,000,000 $80,000,000 $60,000,000 $40,000,000 $20,000,000 $0 2019

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2020

2021

2022

2023

2024

Attachment B - District Profiles

Today – Sources & Uses of Funds BJAD – Parking Sources of Funds 2019-2025 The following table and charts show trends in the sources of revenue BJAD-P received from 20192025, using 2019 as the pre-pandemic base year. Since 2019, the proportion and total amount of most funding sources has stayed relatively steady, though parking revenue tends to oscillate year to year. Additionally, the amount of property tax and total sources have increased overall.

2019 (Actual) 2020 (Actual) 2021 (Actual) 2022 (Actual) 2023 (Actual) 2024 (Adopted) 2025 (Approved)

Parking Revenue

Property Tax

$41,648 12% $190,001 26% $68,550 12% $162,665 26% $88,111 15% $173,510 27% $89,402 16%

$273,306 82% $337,703 47% $489,650 84% $422,661 67% $459,177 79% $433,680 69% $442,354 78%

Interest & Investment Earnings $5,377 2% $1,213 0.2% $1,966 0.3% $5,596 0.9% $12,287 2% $5,120 0.8% $13,071 2%

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Specific Ownership & Tobacco Tax $14,836 4% $15,028 2% $20,008 3% $19,061 3% $19,070 3% $19,060 3% $19,840 4%

Other Revenues

Transfers In

TOTAL (sources)

$25 0.01% $20,316 3% -

$175,000 24% -

$335,192 $718,945 $580,174 $630,299 $578,645 $631,370 $564,667

Attachment B - District Profiles

BJAD Parking Sources of Funds (% of Total) 2019 2020 2021 2022 2023 2024 2025 0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

Parking Revenue

Property Tax

Interest & Investment Earnings

Specific Ownership & Tobacco Tax

Other Revenues

Transfers In

100%

BJAD Parking Sources of Funds (Amounts) $600,000

$800,000 $700,000

$500,000

$600,000 $400,000

$500,000

$300,000

$400,000 $300,000

$200,000

$200,000 $100,000 $0

$100,000 2019

2020

2021

2022

2023

2024

2025

TOTAL (right axis)

Parking Revenue

Property Tax

Interest & Investment Earnings

Specific Ownership & Tobacco Tax

Other Revenues

$0

Transfers In

This chart visualizes the total amount of funds gained with a bar chart that corresponds to the right axis labels and the amount of each source with a line chart that corresponds to the left axis labels. | BOULDER IMPROVEMENT DISTRICT ANALYSIS

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Attachment B - District Profiles

BJAD – Parking Uses of Funds 2019-2025 The following table and charts show trends in the uses of BJAD-P funds from 2019-2025, using 2019 as the pre-pandemic base year. Since 2019 the share of uses has fluctuated greatly. The overall trend is that total spending, as well as uses for the capital improvement program and cost allocation and transfers, peaked in 2023 before steadily declining in 2024 and 2025.

2019 (Actual) 2020 (Actual) 2021 (Actual) 2022 (Actual) 2023 (Actual) 2024 (Adopted) 2025 (Approved)

Admin

Customer Service

$25,604 20% $103,818 61% $115,374 41% $109,072 29% $105,785 12% $125,223 23% $125,755 41%

$4,978 4% $19,854 12% $18,694 7% $18,200 5% $19,664 2% $22,092 4% $23,089 7%

District Mgmt $2,600 2% $2,500 0.9% $590 0.2% $1,053 0.1% $3,822 0.7% $2,900 0.9%

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Parking & Access $63,228 50% $14,102 8% $12,075 4% $14,950 4% $17,838 2% $34,601 6% $35,393 11%

45

Cost Allocation & Transfers $30,822 24% $31,250 18% $131,250 47% $228,009 61% $485,835 53% $248,374 45% $21,635 7%

Capital Improvement Plan $1,140 0.3% $282,276 31% $115,000 21% $100,000 32%

TOTAL (uses) $127,232 $169,024 $279,893 $371,961 $912,451 $549,112 $308,772

Attachment B - District Profiles

BJAD Parking Uses of Funds (% of Total) 2019 2020 2021 2022 2023 2024 2025 0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

Administration (Economically Vital)

Community Vitality Customer Service

Economic Vitality & District Management

Parking & Access Maintenance

Cost Allocation & Transfers

Capital Improvement Program

100%

BJAD Parking Uses of Funds (Amounts): $500,000

$1,000,000 $900,000

$400,000

$800,000 $700,000

$300,000

$600,000 $500,000

$200,000

$400,000 $300,000

$100,000

$200,000 $100,000

$0

2019

2020

2021

2022

2023

2024

2025

$0

TOTAL (right axis)

Administration (Economically Vital)

Community Vitality Customer Service

Economic Vitality & District Management

Parking & Access Maintenance

Cost Allocation & Transfers

Capital Improvement Program

This chart visualizes the total amount of funds used with a bar chart that corresponds to the right axis labels and the amount of each use with a line chart that corresponds to the left axis labels.

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Attachment B - District Profiles

BJAD – TDM Sources of Funds 2019-2025 The following table and charts show trends in the sources of revenue BJAD-TDM received from 2019-2025, using 2019 as the pre-pandemic base year. Since 2019, the proportion of funding sources has stayed relatively constant, with a high percentage coming from property tax. Outliers include 2019 and 2023 where the district received a higher proportion of funds from PILOT and transfers in, respectively. Overall, funding sources have increased significantly since 2019, with total funds peaking in 2023 and property tax funds peaking in 2022. Property Tax 2019 (Actual) 2020 (Actual) 2021 (Actual) 2022 (Actual) 2023 (Actual) 2024 (Adopted) 2025 (Approved)

$156,969 93% $289,906 83% $249,789 92% $681,054 97% $524,200 71% $546,510 96% $557,440 94%

Specific Ownership & Tobacco Tax $8,517 5% $14,346 4% $17,937 7% $17,509 2% $23,341 3% $17,860 3% $18,217 3%

Interest & Investment Earnings $3,094 2% $1,999 0.6% $2,829 1% $6,271 0.9% $14,962 2% $6,100 1% $15,623 3%

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Payments in Lieu of Taxes

Transfers In

$42,882 12% -

$175,000 24% -

TOTAL (sources) $168,580 $349,133 $270,555 $704,834 $737,503 $570,470 $591,280

Attachment B - District Profiles

BJAD TDM Sources of Funds (% of Total) 2019 2020 2021 2022 2023 2024 2025 0%

10%

20%

30%

40%

50%

60%

70%

80%

Property Tax

Interest & Investment Earnings

Specific Ownership & Tobacco Tax

Payments in Lieu of Taxes

90%

100%

Transfers In

BJAD TDM Sources of Funds (Amounts) $700,000

$800,000

$600,000

$700,000 $600,000

$500,000

$500,000

$400,000

$400,000 $300,000

$300,000

$200,000

$200,000

$100,000 $0

$100,000

2019

2020

2021

2022

2023

2024

2025

TOTAL (right axis)

Property Tax

Interest & Investment Earnings

Specific Ownership & Tobacco Tax

Payments in Lieu of Taxes

Transfers In

$0

This chart visualizes the total amount of funds gained with a bar chart that corresponds to the right axis labels and the amount of each source with a line chart that corresponds to the left axis labels.

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Attachment B - District Profiles

BJAD – TDM Uses of Funds 2019-2025 The following table and charts show trends in the uses of BJAD-TDM funds from 2019-2025, using 2019 as the pre-pandemic base year. Generally, total uses of funds have increased steadily since 2019, with economic vitality and district management using a greater share and total amount of funds. Meanwhile, the share of administration uses has decreased.

2019 (Actual) 2020 (Actual) 2021 (Actual) 2022 (Actual) 2023 (Actual) 2024 (Adopted) 2025 (Approved)

Admin

District Mgmt

$50,392 38% $210,867 57% $38,220 30% $36,599 22% $30,571 12% $53,480 15% $51,854 14%

$71,427 54% $144,983 39% $73,823 59% $75,051 46% $170,180 69% $266,767 73% $275,840 74%

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Cost Allocation & Transfers $5,364 4% $12,388 5% $12,760 4% $28,342 8%

49

Capital Improvement Plan $34,401 21% $26,983 11% $15,000 4% -

Customer Service

TOTAL (uses)

$4,940 4% $13,685 4% $13,309 11% $18,779 11% $8,078 3% $15,901 4% $16,150 4%

$132,123 $369,535 $125,352 $164,830 $248,200 $363,908 $372,186

Attachment B - District Profiles

BJAD TDM Uses of Funds (% of Total) 2019 2020 2021 2022 2023 2024 2025 0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

Administration (Economically Vital)

Community Vitality Customer Service

Economic Vitality & District Management

Cost Allocation & Transfers

100%

Capital Improvement Program

BJAD TDM Uses of Funds (Amounts): $400,000

$400,000 $350,000

$300,000

$300,000 $250,000

$200,000

$200,000 $150,000 $100,000

$100,000

$50,000 $0

2019

2020

2021

2022

2023

2024

2025

TOTAL (right axis)

Administration (Economically Vital)

Community Vitality Customer Service

Economic Vitality & District Management

Cost Allocation & Transfers

Capital Improvement Program

$0

This chart visualizes the total amount of funds used with a bar chart that corresponds to the right axis labels and the amount of each use with a line chart that corresponds to the left axis labels.

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Attachment B - District Profiles

Future – Plans, Projects, & Partnerships Looking to the future, previous planning efforts and key partnerships will be instrumental in shaping the evolution of BJAD. Summary of planning efforts/past plans related to the district: Many of the City of Boulder’s past planning efforts relate to, and will impact, the BJAD areas. Below is a summary of common themes found in plans that apply to Boulder Junction. The reviewed plans include Boulder Valley Comprehensive Plan 2020 Mid-Term Update, Boulder Transportation Master Plan (2019), Boulder Parks and Recreation Master Plan Update (2022), and the Transit Village Area Plan (2007, amended 2023). 1. Transit-Oriented Development a. This location was chosen for development due to its proximity to the railroad tracks, with the vision that one day there will be rail connection to Denver with RTD service, as well as the greater region through the Front Range Passenger Rail. b. As such, land uses and densities will be reflective of the high potential of the area to be both a neighborhood and a destination. 2. Connectivity a. This includes building out a complete, fine-grain street network, as well as connecting to other districts and parts of the city/region by transit. 3. Multi-modal transportation options a. Boulder Junction will be a pedestrian-oriented multi-modal hub, with options for connecting to and from the district for those walking, rolling, and using public transit. b. An especially important point here is establishing first- and last-mile connections to provide mobility choices for residents, employees, and visitors once they arrive in the district. Key Projects Likely in the Near-Term: • •

Capital Improvement Projects: o Branding & Wayfinding Signage Project Other Projects: o Boulder Junction Phase 2  The Phase 2 area is west of the rail tracks and currently outside of the BJAD area, but there is an opportunity to expand BJAD to include the Phase 2 area. o RTD reopening Boulder Junction transit station/bus terminal (expected in 2025) o New 2-acre pocket park across from the depot (construction possible by 2026) o Potential to consolidate BJAD-P and BJAD-TDM into a single district o Core Arterial Network (CAN) update for 30th Street  Updating the street with protected bike lanes, intersection enhancements, and pedestrian and transit facility upgrades o Commercial covenant at Boulder Commons – developer is required to rent a portion of the ground-floor retail space below market rates to non-profit entities or local and independent business owners.

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Attachment B - District Profiles

BJAD Key Partnerships: •

•

Regional Transportation District (RTD) o RTD operates public transit services in the Denver metro area, including in Boulder. RTD is committed to reopening the transit station at Boulder Junction later this year, which will connect the district to other parts of Boulder and the region. Boulder Chamber Transportation Connections (BCTC) o A 501(c)(3) nonprofit and is one of eight Transportation Management Organizations (TMOs) in the Boulder-Denver metro region o Services include sustainable transportation planning, employee commute options surveys, education and consulting, commute logistics, outreach events, advocacy, and local and regional leadership o Administers the BJAD EcoPass Program and helps promote micro mobility options in Boulder Junction o Has partnered with Community Vitality in the past to host events related to raising awareness of Boulder Junction as a district and all the transportation benefits it has to offer

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Attachment C - Types of Improvement Districts

COLORADO IMPROVEMENT DISTRICTS

Prepared by Progressive Urban Management Associates (P.U.M.A.) and Spencer Fane Britt and Browne LLP Business Improvement District (BID)

Downtown Development Authority (DDA)

Urban Renewal Authority (URA)

General Improvement District (GID)

Special Improvement District (SID)

Metropolitan District

Background/ Summary

Quasi-municipal organization is a subdivision of the state. All property assessed in a BID must be commercial. Boundary may or may not be contiguous.

Quasi-municipal corporation which is intended to halt or prevent deterioration of property values or structures in Central Business District.

Established to eliminate blighted areas for development or redevelopment by purchasing, rehabilitating and selling land for development.

Quasi-municipal corporation which is subdivision of the state. Can provide a wide range of services.

An assessment district is not a subdivision of the state, nor is it separate from the municipality.

Quasi-municipal corporation is a subdivision of the state. Boundary may or may not be contiguous. Often used in large scale new developments.

Focus

Management, marketing, advocacy, economic development. (Can issue bonds for capital improvements.)

Real estate development, infrastructure, operations.

Real estate development, rehab financing, infrastructure.

Capital improvements, public facilities, maintenance.

Capital improvements, infrastructure.

Formation Steps

Approval by petition of property owners representing 50% of acreage and 50% of value of proposed district; Council ordinance; TABOR election.

City ordinance subject to vote by affected property owners. TABOR election.

Finding of blight; Petition by 25 electors; Council resolution. Separate approval for projects within the authority.

At least 200, or 30 percent of, whichever is less, electors of the proposed district must sign petitions. If all taxable property owners in the district sign a petition, public hearing can be waived.

Need petitions from property owners who will bear at least 50% of the cost of the improvement; Ordinance forms district.

Approval of service plan by city or county; Petition as in GID; election.

Assessment Method

Assessment or mill levy on commercial property.

TIF on property and/or sales and 5 mill property tax for operations.

TIF on property and/or sales tax.

Property tax and income from improvements.

Assessments on property.

Property tax. Can also collect fees and charges for services and facilities. Special assessments possible

Only those in the district can authorize and pay for improvements. Requires petition and election.

Can generate sales and/

Pros/Cons

provide services. Can issue bonds.

and provide services; can have a mill levy and TIF.

future development. Can be controversial.

Equitable: only those who requires election. City constructs improvements.

construction and operation. Can and usually does issue bonds for capital improvements.

infrastructure and operations. Board independence can be a concern.

infrastructure and operations. Board independence can be a concern.

5- to 11-member board 5- to 11-member board Governing of the city is exappointed by city council. appointedby city council.

City council

5- or 7-member board elected by District voters.

Condemn property?

No

No

Yes

Yes

No

Yes

Operate facilities?

Yes

Yes

Yes

Yes

No

Yes

Levy property tax w/ Voter Approval?

Yes

5 mill property tax for operations.

No, but can use TIF.

Yes

No

Yes

Levy sales tax with voter approval?

No but may create SID w/in BID.

No, but can use sales tax TIF

No, but can use TIF.

No

No

Yes, but for streets, street safety, transportation only.

Assess costs?

Yes

Yes

No

Yes

Yes

Yes

Issue GO bonds w/ voter approval?

Yes

Bonds secured by tax increment.

Bonds secured by tax increment

Yes

No

Yes

Issue revenue bonds?

Yes

Yes

Yes

Yes

Yes

Yes

Issue special assessment bonds?

Yes

No

No

Yes

Yes

Yes

CO Revised Statute Cite

31-25-1201, et seq CRS

31-25-801 et seq C.R.S.

31-25-101 et seq C.R.S.

31-25-601 et seq C.R.S.

31-25-501 et seq C.R.S.

32-1-101- et seq C.R.S.

Governance

Item 2 - District Analysis

1201 E. COLFAX, SUITE 201 | DENVER, CO 80218

Results and Recommendations

720.668.9991 | pumaworldhq.com 53