Speaker 0: Ten Eyes. Resolution 1064 has passed. Congratulations. Council is now convened as the Board of Director of the Gateway Village General Improvement District. Councilwoman Gilmore, will you please put Resolution 1065 on the floor?
Speaker 7: Yes, Mr. President. I move that Resolution 1065 be adopted.
Speaker 0: It has been moved.
Speaker 2: One more.
Speaker 10: Yeah.
Speaker 0: We got it. It has been moved and seconded. The public hearing for resolution 165 is open. May we have the staff report?
Speaker 3: Good evening, board members. Michael Carey again from the Department of Finance Special District Team. I am before you tonight to give the staff report and request approval for the Gateway Village General Improvement District 2017 Annual Work Plan and Budget. The district is located in the northeastern section of the city, northwest of the intersection of I-70 and Chambers Road that consists of approximately 243 acres on the eastern border of Montebello. It is completely developed and primarily consists of residential property. Responsibilities include maintaining the landscaping and parks within the District. City Council. Approve the formation of the Gateway Village General Improvement District by ordinance number 551 series 1994 and establish City Council as the ex-officio board of Directors of the District. The ordinance also created the District Advisory Board made up of property owners within the guide. The ordinance specified that such property owners are sorry. The ordinance specify that such advisory board should conduct Dimanche, conduct and manage all affairs of the district as the authorized agent of the Board of Directors, including its financial and legal affairs. Pursuant to Resolution Number 32 Series 1995, Denver City Council authorized the District's advisory board to create a work plan and budget for approval by the Board of Directors annually. The Gateway Village Guide 2017 Budget proposes overall expenditures of $315,000 and total revenues of $484,022. Most of the district's revenue will be generated by a 20 mill levy assessed on real property in the district, which is a 5.7 mil reduction from last year's budget. The major difference between the 16 and 17 budget is that the district will make its final debt payment on December 1st of this year and will no longer have any outstanding debt beginning in 2017. The District intends to create a capital to create a fund to to fund capital projects for 2017. In order to provide a reserve analysis, hire a landscape designer and undertake landscape improvements and tree replacements. City staff has reviewed the 2017 Budget Work Plan and recommends it for approval. Jeffrey Erbe of Center and Vandewalle, legal counsel for the District, is also here and available to answer any questions. Thank you.
Speaker 0: Thank you, Michael. We have one speaker tonight for this public hearing, Jeffrey Harp.
Speaker 6: Good evening. My name is Jeffrey Erb.
Speaker 8: I'm legal counsel for the district. Just here to answer any questions that you might have.
Speaker 0: Thank you. You can have a seat. This concludes our speakers. Comments by members or questions by members of council. A public hearing for council bill 1065 is closed. Comments by members of council seeing none. It's been first and second at a Madam Secretary roll call.
Speaker 2: Gilmore. I Cashman. I knew Ortega. I Susman. I black eye. Clark.
Speaker 6: All right.
Speaker 2: Espinoza, I. Flynn.
Speaker 3: Hi.
Speaker 2: Mr. President.
Speaker 0: I. Madam Secretary, please close the voting and announce the results.
Speaker 2: Ten Eyes.
Speaker 0: Ten Eyes. Resolution 1065 has passed. Congratulations. The Council is now convene as the board of Directors of the Rhino General Denver General Improvement District. Councilwoman Gilmore, will you please read the resolution? 1066 on the floor?
A resolution by the Council of the City and County of Denver, sitting ex officio as the Board of Directors of the Gateway Village General Improvement District, approving a Work Plan, adopting a Budget and making appropriations for the Budget Year 2017 and approving a Mill Levy.
Approves the 2017 Work Plan and Budget for the Gateway Village General Improvement District in Council District 11. The Committee approved filing this resolution by consent on 11-10-16.