January 1, 2025
Colorado Department of Local Affairs
1313 Sherman Street
Denver, CO 80203
To Whom It May Concern:
Attached please find the 2025 budget for the Old South Gaylord Business Improvement District.
This district was created in 1990 to facilitate economic revitalization of South Gaylord through installation and maintenance of public improvements, public safety initiatives, economic development and marketing activities in conjunction with area residents and neighborhood organizations, and advocacy. The district boundaries are both sides South Gaylord between East Tennessee and East Mississippi Avenues.
The district is funded through a mill levy by commercial property owners. The primary function of the BID is to maintain street improvements which were installed by the City and County of Denver in the 1990’s. After the death of the BID’s president a few years ago, the BID has focused on maintaining existing levels of maintenance, while improving administrative efficiencies and staying in compliance with regulations. An additional issue facing the BID is that the trees are aging and will need to be replaced along with other pedestrian-oriented infrastructure. The BID has retained a consultant to work with the BID to create a plan and budget for this work. The BID will be exploring additional funding options including: increased revenue from property owners, which requires a TABOR/5.5% election; a sales tax overlay district to generate revenue from consumers, grants, or general obligation bonds. All activities are designed to maintain and improve the area as a desirable consumer and business destination, thus enhancing local job creation, consumer spending and property values.
The basis of accounting in the budget are presented on a cash basis. Revenues and expenditures are recognized and accounted for when monies enter or are
expended from the bank account.
Sincerely,
Joyce Bickel
