The Colorado Springs City Council approved the 2016 budget yesterday on an 8-1 vote, according to a press release from the city.
The Colorado Springs budget is $266.9 million, an increase of $8.1 million above 2015, due largely to 2016 sales tax revenue projection.
2016 General Fund Highlights:
- Essentially reconstruct the Stormwater Enterprise fund and commit $16 million from the city for storm water maintenance activities and projects (with an additional $3 million from Colorado Springs Utilities making total stormwater expenditures at $19 million per year).
- $840,000 in funding through General Fund and grant funds to implement bodies cameras at the Colorado Springs Police Department, which will improve transparency and accountability in contacts between CSPD and the public.
- $814,000 increased funding from the city’s General Fund to Mountain Metro Transit — increasing funding from $4.3 million to $5.1 million, to bring the city closer to the $5.7 million maintenance of effort commitment made in 2004 when the Pikes Peak Rural Transportation Authority was created.
- The first phase of a two-year phase-in of a business personal property tax credit program. For 2016, the tax credit will be equal to one-half the amount due on 2016 property tax statements.
- $400,000 for architectural and engineering plans for a new Sand Creek Police Substation to replace the current station which will allow the Colorado Springs Police Department to respond more quickly to the southeast part of the city.
- $250,000 from the general fund, each year for two years, to fund the first comprehensive plan for the city in 15 years – a plan that will be relevant to today’s economic markets and land use planning principles which will reflect the city’s vision to become a more progressive, mixed-use, revitalized and multi-modal community.
- $75,000 funding for the Regional Business Alliance – the community partner primarily responsible for business recruitment and retention.
- $55,000 funding ($27,500 general fund, $27,500 Lodgers and Automobile Rental Tax fund) for the Small Business Development Center – an important community partner that assists with small business development and growth.