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2023 <br />OPERATING PLAN AND BUDGET FOR <br />THE <br />MAIN STREET LOUISVILLE BUSINESS IMPROVEMENT <br />DISTRICT <br />INTRODUCTION <br />The Main Street Louisville Business Improvement District ('BID") was organized by <br />City of Louisville Ordinance Number 1342, Series 2000 on August 15, 2000 ("Organizational <br />Ordinance"). <br />By state statute, specifically Section 31-25-1211, C.R.S., by September 30 of each <br />year, the BID is required to submit an operating plan and budget to the City for review and <br />approval. <br />Over the years, the Board has held a series of Board meetings to discuss the future of <br />the BID, the possibility of a TABOR election, and inclusion of additional property in the <br />District; however, the District has not undertaken substantive activity in the last year and is in <br />the process of considering its future plans and options. The District would like to remain in a <br />holding pattern until its plans become clearer. <br />OPERATING PLAN CONTENTS <br />Pursuant to the Business Improvement District Act, Section 31-25-1201, et seq., <br />Colorado Revised Statutes, as amended, the Operating Plan is to specifically identify: <br />1. the composition of the Board of Directors, <br />2. the services and improvements to be provided by the District, <br />3. the taxes, fees, and assessments to be imposed by the District, <br />4. the estimated principal amount of bonds to be issued by the District, and <br />5. such other information as the City may require. <br />Each of these five items is described below. <br />DN 4257652.1 <br />35 <br />