About

Overview

The Interquest Town Center Business Improvement District is located in the City of Colorado Springs, El Paso County, Colorado. The District, organized in 2017, was established to provide for the financing of public improvements and services which benefit the commercial properties within the District.

The District has the ability to construct and finance major public improvements as well as additional amenities, including, but not limited to, the following: water services, traffic and safety protection, sanitation services, street improvements, parks and recreation, transportation, television relay and translation, mosquito control, security, fire protection and emergency medical.

Additionally, the District is authorized to provide the following services:

Water services
Safety protection devices
Sanitation services
Marketing
Streetscape Improvements
Street Improvements
Curbs, gutters, culverts, sidewalks, paving, lighting, grading
Drainage and parking facilities
Landscaping and storm and wastewater management facilities and associated land acquisition and remediation

Financial Obligations

A. Maximum Debt Service Mill Levy: 50.000 mills, subject to adjustment as set forth in the 2025 Operating Plan.

B. Maximum Operations and Maintenance Mill Levy: 5.000 mills, subject to adjustment as set forth in the 2025 Operating Plan.

C. Current Debt Service Mill Levy: 41.751 mills

D. Current O&M Mill Levy: 5.218 mills

E. As of December 31, 2024, the District has outstanding Debt in the form of the Series 2020 Limited Tax General Obligation Bonds totaling $2,860,000.

F. The District is party to the following developer reimbursement agreements:

Reimbursement Agreement between the District and Interquest Town Center, LLC dated January 24, 2018.

Term: Automatic Annual Renewal
Interest Rate: 8%

2. Facilities Funding and Acquisition Agreement between the District and Interquest Town Center, LLC dated January 24, 2018.

Term: Automatic Annual Renewal
Interest Rate: 8%