07.16.24 DMC Meeting PacketDOWNTOWN MANAGMENT COMMISSION
July 16, 2024
4:00–6:00 p.m.
Community Vitality Department, 1500 Pearl Street, Suite #300
(The public will attend via Zoom Webinar.)
AGENDA
I.Roll Call Secretary
II.Procedural Items (5 minutes)Chair
A.Approval of the May 14, 2024 Meeting Minutes
B.Farewell to Susan Nuzum
C.Welcome and Oath of Office – Andy Nathan and Erica Dahl
III.Public Participation (0-10 minutes)Chair
IV.Consent Agenda – Topics will not be discussed unless there are questions posed by the
Commission. Please reference the consent agenda memo.
V.Fund Financials– The fund will not be discussed unless there are questions posed by the
Commission. Please reference the packet attachment.
VI.Downtown Boulder Partnership (DBP) Update (15 minutes)Bettina Swigger, DBP
VII.Boulder Chamber – Economic Vitality Update Joseph Hovancak
VIII.Matters from Staff (75 minutes)Staff
A.DRAFT 2025 Budget Recommendations (Elliott LaBonte)
B.District Outlook Project Update (Matt Chasansky)
C.Capital Improvement Projects in Downtown Garages (Kristine Edwards)
D.Bike Rack Paint-the-pavement Project (Reegan Brown)
IX.Matters from Commissioners (15 minutes)Chair
X.Next Commission Meeting: 4 p.m., Tuesday, September 10, 2024
XI.Adjourn Chair
Attachments:
-Draft May 2024 Meeting Minutes
-Special District Boards and Commissions Consent Agenda – July 2024
-CAGID YTD Fund Financials
-CAGID Historic Sales Tax Report 1
- Downtown Boulder Partnership Update
- Community Vitality’s 2025 Proposed Budget
- Q1 2024 Boulder Economic Indicators Economic Data - Boulder Chamber Economic Council
(bouldereconomiccouncil.org)
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CITY OF BOULDER
BOULDER, COLORADO
BOARDS AND COMMISSIONS MEETING MINUTES
Name of Board/Commission: Downtown Management Commission
Date of Meeting: May 14, 2024
Contact Information Preparing Summary: Lauren Kennedy (303) 413-7492
Board Members Present: Justin Kalvin, Susan Nuzum, Don Poe (V-Chair), Stephanie Trees (Chair)
Board Members Absent:
Staff Present:
Cris Jones, Director of Community Vitality (CV)
Matt Chasansky, CV Senior Manager of Cultural Vibrancy & District Vitality
Elliott LaBonte, CV Business Services Senior Manager
Reegan Brown, CV Senior Project Manager
Lane Landrith, CV District Vitality Specialist
Lisa Wuycheck, CV Executive Assistant
Lauren Kennedy, CV Board Specialist
Sam Bromberg, CV Senior Project Manager
Ben Manibog, Public Works Senior Project Manager
Megan Newton, Housing & Human Services Policy Advisor
Emi Smith, CV Communications Program Manager
Guests Present:
Bettina Swigger, Downtown Boulder Partnership CEO
Type of Meeting: Hybrid
The DMC meeting was called to order at 4:03 p.m. A quorum was present for the conduct of business.
Agenda Item 1: Roll Call
Lauren Kennedy, CV Board Specialist took roll call; all commissioners were present.
Agenda Item 2: Procedural Items
A. Approval of the March 2024 Meeting Minutes
• Kalvin motioned to approve the meeting minutes as presented in the packet. Second by Nuzum.
The motion passed unanimously.
B. Welcome Board Specialist Lauren Kennedy
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Agenda Item 3: Public Participation
There were no members of the public present.
Agenda Item 4: Consent Agenda
Consent Agenda – Topics will not be discussed unless there are questions posed by the Commission.
Please reference the consent agenda memo.
• Poe asked how many applicants there were for the Commutifi program. Reegan Brown, CV
Senior Project Manager updated the commissioners that the program launched on April 1, and
there are about 15 employers across CAGID and Boulder Junction participating.
• Poe followed up with additional questions about the size of the businesses participating, and
Brown clarified that there is a mix of large and small businesses participating.
• Cris Jones, Director of Community Vitality (CV) asked if Commutifi is planning on providing
a mid-year update, and Brown clarified that they provide quarterly reports and can come to
commission meetings to present the information. Poe stated that the reports were sufficient and
requested them, and Brown confirmed she will provide them.
• Nuzum asked about the ambassador program and if the lower population on The Hill during
the summer has been accounted for in the allocation of resources. Jones clarified that the
program is funded by the General Fund and CU, so there were no adjustments made by CV,
and discussed how the future opening of the Moxy Hotel will have an effect on the population
of The Hill in the summer.
• Trees asked about the Root Music Project Brown talked about the program’s goals to help
local artists thrive and offered to send a flier with event details to the commissioners.
• Trees asked about a consultant being hired for affordable commercial shared spaces. Jones
clarified that the funding is coming from ARPA, and is therefore subject to strict guidelines,
and the consultant is going to help create a framework for implementation of an affordable
commercial spaces project.
Agenda Item 5: Fund Financials
Fund Financials – The fund will not be discussed unless there are questions posed by the Commission.
Please reference the packet attachment.
• Poe asked a clarifying question about the document. LaBonte and Jones clarified that it is
written incorrectly and should say use tax instead of sales tax. The commission discussed the
details of the data, and the overall trends the city has seen for January 2024.
Agenda Item 6: Downtown Boulder Partnership (DBP) Update
Downtown Boulder Partnership CEO Bettina Swigger updated the commissioner on current DBP
topics.
• The monthly pedestrian count is up for Q1 2024.
• The Taste of Pearl event was a great success and sold out.
• The Tulip Fairy and Elf Festival was fun and included the Rocky Mountain Indigenous Dancers
group and The School of Rock.
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• DBP efforts to advocate and connect with the area include work regarding public safety,
wayfinding, crime preventions and de-escalation, addressing homelessness, and coordination
during the April power outage.
• Spring Green program distributed flowers to local businesses to help beautify the area.
• The most recent Town Hall meeting discussed office space issues and efforts to assist people
facing mental health issues.
• Ambassador staffing has been low in the winter and spring, but Swigger expects more
volunteers for the summer. Trees asked about the changes in numbers from Jan to Feb. Swigger
said she would find out. Swigger clarified that the graffiti removal includes stickers.
• Swigger shared a video about Downtown Boulder. Trees asked where there is Thai food in
Boulder, and Swigger updated about a new local Thai restaurant. Poe asked who made the
video, and Swigger responded that is was 11 Dollar Bill and the city’s creative director.
• Swigger updated the commission about the upcoming Employee Appreciate Week and Band on
the Bricks events.
• Kalvin asks if the city partners with Out Boulder for Pride events. Swigger confirmed that they
will and are looking forward to Pride and supporting all events occurring downtown.
• Trees asked if the city is planning on holding Taste of Pearl again, and Swigger confirmed that
they are planning to hold the event annually since it was such a success.
Agenda Item 7: Boulder Chamber – Economic Vitality Update
Vice President, Economic Vitality and Executive Director of the Economic Council Joseph Hovancak
was not able to attend and will provide an update at a future date.
Jones requested permission from the Chair, Trees, to invite Hovancak back on another date, and Trees
gave permission.
Agenda Item 8: Matters from Staff
A. Boulder Social Streets Update
Ben Manibog, Public Works Senior Project Manager updated the commission on changes to the street
use at West Pearl after the pandemic, and keeping the area closed to cars for restaurant use.
Manibog discussed the plan from summer 2023 that included a series of downtown events. The plan
served as a pilot, and eventually template, for other areas for events.
Manibog shared that the most attended events were the Melanin Funk Fest and Boulder Street Soccer
Classic. Trees asked whether attendance for the two events was significantly higher than the other six
events, and if so, was that being taken into consideration when planning future events. Manibog
clarified that this program was an effort to establish a template that community members can use to
create events that they want to see and submit to the city for 2024 and moving forward. Jones added
details about this being an effort to streamline staff efforts and make event planning easier and more
accessible for community members. Trees asked for clarification about the frequency of the events and
if they can be recurring or should be one-time events. Jones answered that City Council wants the
planning and underwriting portion of the events to shift from the city to the community members who
want the event held, and this template will make that easier for them.
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Poe asked if the city would keep track of applicants and try to match ideas to each other to lessen the
cost for organizers. Jones answered that the template will make it easier for smaller events to be held.
Matt Chasansky, CV Senior Manager of Cultural Vibrancy & District Vitality added that there will be
advisors to help community members navigate the application process and sponsorships available to
help fund events. Poe asked if the city would help connect non-profit organizations to sponsors, and
Chasansky answered that the city will be doing that. Poe asked if there could be staff that is dedicated
to helping event permits move through the planning department, and Jones clarified that the special
event planning team is one person at the moment. The planning department has funding from permit
fees that the special event planning team does not have access to, as the city does not charge for event
permits, so they cannot staff for that work to be done.
Poe asked what is charged for events, and Manibog stated he would provide that information to the
commissioners. Trees asked if there is a price for event permits that makes the program sustainable and
also doesn’t make events too expensive to hold. Jones answered that there are other ways to bring in
more funding, such as charging a flat rate on Saturdays, that are not implemented at this time. Jones
stated that the flat rate pricing model was put in front of City Council a couple years ago and did not
pass. He offered that the DMC could bring this proposal to City Council again if they decided to.
Manibog went over the safety perceptions of the events gathered from community member surveys.
Poe pointed out that one-third of people felt unsafe, and the commission discussed what this indicated
in the community. Poe asked Manibog for more information about the survey, including raw data, and
Manibog stated he would provide this information to the commission.
Manibog updated the commission about the Social Streets program, including the timeline and where
the team was in the progress of the program. Manibog confirmed that he be providing updates on the
program to the commission in future meetings.
B. Day Shelter Services Update
Megan Newton, Housing & Human Services Policy Advisor updated the commission on The Day
Services Center.
It was a City Council priority in 2022 and has faced challenges. It is intended to be a place with daily
services in addition to more in-depth assistance regarding behavioral health, substance use, and
housing for community members.
There is no requirement to stay the night in order to use the day services. The center will be located on
North Broadway and is slated to open in mid-June and has faced challenges regarding renovating the
space and staffing. There are transportation issues that Newton’s team has faced and their solution is
offering more frequent bus services.
Trees asked what the daily cost is, and Newton clarified that they don’t have a daily number, but the
annual amount is $1.6 million.
Trees asked what Newton is most excited for regarding this project and what she is unsure about.
Newton said she is excited that people in the community are going to get the help they need and
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connect with others in the community. She said she is unsure that the utilization will be very high and
isn’t sure what the neighborhood community’s response will be.
Poe asked if diversion programs are a part of this program, and Newton confirmed they will be.
Poe asked if Newton’s team has outlined what success looks like and how to measure it for this project,
and Newton confirmed that it is an ongoing conversation on her team.
C. Q1 Economic Update
LaBonte and Jones updated the commission on the new software being used called Placer AI. He
talked about the metrics for visitation into the area.
Trees asked a clarifying question about people moving past the area instead of staying in it and if that
data is excluded, and LaBonte clarified that the system only counts pings that are in the area for more
than 10 minutes in order to omit people who are just passing through.
The commission discussed the Placer AI software and capabilities more in-depth, and Jones clarified
that the software is used by many retailers in the country and provides many insights into community
members’ movements.
D. Cross District Consulting
Chasansky updated the commission on the need for suggestions for work and policy changes that will
make the districts more accessible and better for community members, and for volunteers from the
commission to discuss this work.
Nuzum observed that the goals need to be narrowed down to be successful and Chasansky responded
that this work is an effort to create a plan and work on making larger goals successful.
Poe asked for clarification on the goals and direction of the work. Jones clarified that the next steps are
to hire consultants to work with stakeholders and identify problems, and that this work is to define the
scope for the consultants. Poe clarified that he wants to make sure that all stakeholders’ needs are being
identified and addressed, especially if they are conflicting needs.
Poe expressed interest in being the ambassador for the DMC for this work.
E. Parking & Access Survey Results
Sam Bromberg, CV Senior Project Manager updated the commission on Metropolis and its rollout in
city garages.
Poe asked for clarification about how Metropolis is perceived in other municipalities, and Bromberg
stated that the data is not available. Jones clarified that Metropolis will be operating in more
municipalities soon, so the hope is that customers will be more comfortable using Metropolis.
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Bromberg said the biggest take aways are that there is a lot of misinformation surrounding the
platform, there is a need for increased perception of safety, on-street parking is preferred to garage
parking, and service and retail workers perceive a lack of affordable parking for their group.
Nuzum observed that there is an issue with the on-street parking requiring the Park Mobile app and the
garages requiring Metropolis, and that this may be upsetting community members. Jones clarified that
Park Mobile uses a pay-in-advance model and Metropolis allows for paying for time used after the fact.
If Park Mobile were to offer a similar model to Metropolis, the city would be interested in expanding
them to the garages.
Poe asked if the revenue was on target, and Bromberg and LaBonte confirmed that Metropolis is
performing better than expected.
Bromberg said the next steps are looking forward to the 2025 budget. The commissioners agreed that
they want to see how this program runs for a year and what the data shows.
F. Connecting Downtown to The Hill
Brown updated the commission on the wayfinding signage along the corridors that connect Downtown
to The Hill. She discussed other efforts including the Creative Crosswalk project, upcoming Roots
Music Project events, the Civic Area Project in Phase II, a possible “Cultural Corridor” connection
from 13th Street to Pearl Street, improvements to the Arboretum Park, a District Outlook Analysis, and
a longer-term wayfinding strategy.
Poe asked if the city can provide wayfinding information to hotels, and Jones confirmed that Visit
Boulder does this.
G. Commission Recruitment Update
Jones updated that the city is looking to appoint two new commissioners in June and are hopeful that
both vacancies will be filled. Nuzum asked who the candidates are, and Jones confirmed who they are.
Agenda Item 9: Matters from Commissioners
A. City Council Priority Update
Jones updated the commission that City Council has priorities of economic vitality and connection of
districts, affordable housing and homelessness, and many others, for a total of 11. Poe asked if budgets
had been lowered, and Jones confirmed the budgets are going to be lower but that this was anticipated
and is being accounted for.
Agenda Item 10: Next Commission Meeting
Next Commission Meeting: 4 p.m., Tuesday, July 16, 2024.
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Agenda Item 11: Adjourn DMC Meeting
There being no further business to come before the commission at this time, Nuzum moved to adjourn
the meeting. Second by Kalvin. The meeting was adjourned at 6:23 p.m.
Attested: Approved by:
___________________ _____________________
Lauren Kennedy Stephanie Trees
Board Specialist DMC Chair
Date: ______________ Date: _________________
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City of Boulder
Special District Board Consent Agenda
University Hill Commercial Area Management Commission (UHCAMC) – July 9, 2024
Downtown Management Commission (DMC) – July 16, 2024
Boulder Junction Access District (BJAD) Commissions – July 24, 2024
Updates on Community Vitality work plan programs and projects for city special district boards and
commissions. These updates are for informational purposes only and require no discussion or votes.
Special District Updates
University Hill General Improvement District (UHGID) - Hill Revitalization Efforts –
Many exciting efforts are underway on the Hill:
• Moxy Boulder Hotel had their soft opening on May 23, providing 189 guest rooms in the
heart of Boulder along with space for a restaurant, coffee shop and Bar Moxy.
• Staff continues to track the impacts of changes in regulations for restaurants, brewpubs
and taverns which were adopted by City Council last November.
• Pedestrian wayfinding signage has been installed throughout the district and along key
corridors connecting the Hill to downtown to better guide pedestrians and cyclists to
nearby attractions.
• In collaboration with Roots Music Project the June 22 concert in the ‘On the Rise’ music
series was well attended. The next concert will take place on Saturday, July 27.
• Staff are working with a mural artist to adapt their proposal for a creative crosswalk
design across Pleasant Street west of Broadway.
• Work continues at th e Limelight Hotel and Conference Center, which is projected to open
in Spring 2025.
• Central Area General Improvement District (CAGID) Garage Repairs and Improvements
City of Boulder is improving public parking garages in downtown Boulder in 2024, which
requires periodic partial and full closures of the garages. The projects include important
maintenance repairs and improvements such as power washing and re-striping. Community
Vitality staff are working with contractors, parking permit holders, commercial property owners
and tenants to coordinate the schedule to ensure continued public parking garage access
downtown while these projects are completed.
• Central Area/University Hill General Improvement Districts (CAGID)/(UHGID) –
Downtown and University Hill Ambassador Program – The ambassador program operates in
the downtown, Civic Area and on University Hill. Extension of the program ensures an
ambassador is present on University Hill 32 hours per week, in addition to an ambassador team
lead 40 hours per week. The program is a partnership between the university, the City of Boulder
and the Downtown Boulder Partnership (DBP). A Hill ambassador may be reached via phone or
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text at 720-576-8643.
• Boulder Junction Wayfinding Signage Project – This project aims to improve wayfinding and
recognition of Boulder Junction as a distinct neighborhood and general improvement district
(GID) within the Boulder community. City staff entered into an agreement with a vendor called
e3 Signs, based out of Loveland, Colorado, to fabricate and install the signage. Installation is
complete for the signage in the Public Right-of-Way and nearly complete for the private property
locations. We anticipate all signage to be complete by the end of this summer.
• Commutifi Pilot Program – Community Vitality entered into an agreement with a local tech
company Commutifi to implement a transportation demand management “TDM” wallet concept
in 2024 in the Central Area General Improvement District (CAGID) and Boulder Junction
Access District (BJAD). The purpose of the pilot program is to encourage companies within
CAGID and BJAD to participate in sustainable commuting practices through financial incentives
(up to $2.50 per commute with the city’s match) to employees who use sustainable transportation
methods for their commutes. More information can be found at the program website Boulder
Clean Commute. Attached to the meeting packet is the first quarterly report from Commutifi
which provides a comprehensive overview of the program and utilization data.
• District Parking Assessment – This project is centered on assessing and optimizing the
utilization of district-owned parking lots and garages in CAGID and UHGID to meet the needs
of the districts. Through collaboration with stakeholders and a data-driven approach, this project
aims to enhance district parking resources to better serve the diverse needs of our community,
ultimately contributing to a more vibrant and accessible urban environment. Currently we are
conducting an existing conditions study and plan to solicit feedback on project direction in July.
City of Boulder Updates
AMPS Implementation: New on-street pricing changes to align with performance-based pricing
went into effect Jan. 2, 2024. Performance-based pricing uses data driven analysis to implement
pricing changes based on demand, which are monitored and adjusted on an annual
basis. Questions or comments: Samantha Bromberg, brombergs@bouldercolorado.gov.
Outdoor Dining Pilot Program - The five-year pilot program provides permitting and support
for outdoor dining year-round at restaurants, brewpubs, taverns, breweries, distilleries, and
wineries. The program enables these businesses to offer more space to customers by expanding
outside with consistent, pre-approved infrastructure for the expansion areas. There are currently a
total of 30 participating businesses. We will conduct an evaluation in the coming months and
anticipate providing an update to council later this year with the hope of extending the program
beyond 2027.
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Downtown Commercial District Fund (formerly CAGID) - 6400202320242024202520262027202820292030Actuals Adopted Revised Recommended Projected Projected Projected Projected Projected20,781,431$ 20,977,971$ 20,977,971$ 15,928,690$ 13,044,424$ 8,085,613$ 6,478,218$ 4,340,594$ 3,156,331$ Sources of FundsParking Revenue 4,514,795 6,062,159 6,062,159 6,299,894 6,457,391 6,618,826 6,784,297 6,953,904 7,127,752 2.5% growthProperty Tax 1,493,258 1,440,980 1,523,123 1,469,800 1,506,545 1,544,209 1,582,814 1,622,384 1,662,944 2.5% growthLeases, Rents & Royalties156,000 497,010 497,010 504,465 517,077 530,004 543,254 556,835 570,756 2.5% growthInterest & Investment Earnings 487,662 226,811 502,975 502,976 409,595 242,568 194,347 130,218 94,690 Based on previous year fund balance plus growOther Revenues 61,757 64,590 64,590 65,559 67,198 68,878 70,600 72,365 74,174 2.5% growthSpecific Ownership & Tobacco Tax 69,767 64,150 64,150 65,433 67,069 68,746 70,464 72,226 74,031 2.5% growthIntergovermental Revenues 30,681 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Grant Revenues1,704 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Transfers In968,819 968,819 968,819 716,855 716,855 716,855 716,855 716,855 716,855 Total Sources of Funds7,784,443$ 9,324,519$ 9,682,826$ 9,624,982$ 9,741,730$ 9,790,085$ 9,962,630$ 10,124,787$ 10,321,202$ Uses of FundsAdministration (Economically Vital) 1,163,470 1,657,043 1,673,221 1,502,318 1,539,876 1,578,373 1,617,832 1,658,278 1,699,735 2.5% growthCommunity Vitality Customer Service 728,906 750,412 769,272 626,901 642,574 658,638 675,104 691,981 709,281 2.5% growthEconomic Vitality & District Management 1,393,584 2,372,322 2,638,092 2,025,046 2,075,672 2,127,564 2,180,753 2,235,272 2,291,154 2.5% growthParking Maintenance 942,127 1,129,624 1,448,547 1,692,271 1,734,578 1,777,942 1,822,391 1,867,951 1,914,649 2.5% growthSpecial Events50,830 52,101 53,403 54,738 56,107 57,509 Debt Service 835,307 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Transfers & Cost Allocation420,471 787,082 787,082 1,061,882 1,105,741 1,151,560 1,199,436 1,249,462 1,301,740Capital Improvement Program2,104,038 4,930,000 7,415,893 5,550,000 7,550,000 4,050,000 4,550,000 3,550,000 1,300,000 Total Uses of Funds7,587,903$ 11,626,483$ 14,732,107$ 12,509,248$ 14,700,541$ 11,397,481$ 12,100,254$ 11,309,050$ 9,274,069$ FR&R1,500,000 1,000,000 1,000,000 Ending Fund Balance Before Reserves20,977,971$ 18,676,007$ 15,928,690$ 13,044,424$ 8,085,613$ 6,478,218$ 4,340,594$ 3,156,331$ 4,203,464$ ReservesOperating Reserve1,118,313 1,162,194 1,162,194 1,194,140 1,227,029 1,260,892 1,295,761 1,331,669 1,372,951 Sick/Vacation Reserve13,540 13,540 13,946 14,365 14,796 15,239 15,697 16,168 Total Reserves1,118,313$ 1,175,734$ 1,175,734$ 1,208,086$ 1,241,394$ 1,275,688$ 1,311,000$ 1,347,366$ 1,389,119$ Ending Fund Balance After Reserves19,859,659$ 17,500,273$ 14,752,956$ 11,836,338$ 6,844,219$ 5,202,529$ 3,029,593$ 1,808,964$ 2,814,345$ 12
Sales Tax by Location: Downtown
2019 2020 2021 2022 2023 2023 April 2024 April
Sales Tax $8,800,961 $5,253,717 $7,162,667 $8,584,411 $8,831,332 $2,508,081 $2,785,355
Year-Over-Year Change ($3,547,244)$1,908,950 $1,421,744 $246,921 $277,274
Year-Over-Year Growth Rate -40.31%36.34%19.85%2.88%11.06%
Average Annual Growth Rate 0.09%
% Change 2019 to 2023 0.35%
Sales Tax by Location: Pearl Street Mall
2019 2020 2021 2022 2023 2023 April 2024 April
Sales Tax $3,964,887 $2,351,039 $3,965,943 $4,391,098 $4,620,501 $1,125,143 $1,097,965
Year-Over-Year Change ($1,613,848)$1,614,904 $425,155 $229,403 ($27,178)
Year-Over-Year Growth Rate -40.70%68.69%10.72%5.22%-2.42%
Average Annual Growth Rate 3.90%
% Change 2019 to 2023 16.54%
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July 2024 Report to
Downtown Management Commission
Bettina Swigger, CEO
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Employee Appreciation Week
- 21 Employee Spotlights featured on website (new)
- 30 businesses provided special promotions & prizes
- Office Olympics with 10 teams of 6-8 + Happy Hour
- Employee Wellness Day & Outdoor Time
- Wine Tasting, Spice Sampling, Gelato, Art Classes
- Cultural Caravan Concert
- 1,070 participants
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Advocated to City Council for Use Review Process to be Expedited
With the Boulder Connectors, in collaboration with City staff, designed and
installed wayfinding signs connecting the Hill to Downtown
With Boulder Chamber and Visit Boulder, hosted a Homeless Policy Framework
Roundtable with Homeless Services providers
With Rocky Mountain Equality (previously Out Boulder County), raised the Pride
flag over Pearl Street to honor Pride Month
Spoke at the inaugural Sundays on West Pearl organized by The New Local
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In May, 148 flats of flowers were given to 75
businesses to help beautify their storefronts.
We also planted 13 planters on the East End
and included the Hill District in our flower
distribution.
Tebo Train
All aboard the Tebo Train, offering
free train rides for kids Mon-Fri,
9-11 am; through Labor Day
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Before & After HighlightsBefore & After HighlightsBefore & After HighlightsMaintenance Requests Closed 423 432 855
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“So Boulder” Marketing Campaign Went Live
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“So Boulder” Campaign Digital
Summary The campaign has served over
2.3MM impressions and garnered
over 7.3K clicks with an increased
CTR of 0.32%.
Display Online is the top
performing in terms of CTR at
0.23% and continues to be above
the benchmark week over week.
VCR (viewer completion rate) for
CTV (connected TV) remains
strong at 98%, and Pre-Roll at
92%, which continue to surpass
benchmarks.
The campaign has served over
627K impressions and garnered
close to 17K clicks with a strong
overall CTR of 2.70%.
Total Landing Page Views: 3,406
3,136 (55% increase from the last
report!)
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East End Business Meetup
and Postcard Campaign
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May 2024 Social Media
Performance (download here).24
All-Boards Retreat, June 13
Organization-Wide Alignment
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Friday, July 19th | 3 - 8 pm
Saturday, July 20th | 10 am - 7 pm
Sunday, July 21st | 10 am - 5 pm
Wednesdays
Through July 31, 2024
5:30 - 9 pm
Friday, Sept. 13th | 5 - 9 pm
Saturday, Sept. 14th | 10 am - 9 pm
Sunday, Sept. 15th | 10 am - 5 pm
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Community Vitality’s
2025 Proposed Budget
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Agenda
General Improvement District
Formation and the Roles and Responsibilities
Key Accomplishments
2025 Budget
Budget Process
Community Vitality Budget
Capital Improvement Program
UHGID Revenues & Expenses
Feedback and Questions
Next Steps
Suggested Motion Language
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Formation of the Central
Area General Improvement
District (CAGID)
•ORD 3644 Sept. 3, 1970
•“a general program of providing parking and related
improvements for the district area, which may include, but
shall not be limited to:
•A. Parking and off-street parking facilities; the
number of parking spaces now anticipated is
approximately 425;
•B. Acquisition or lease of necessary land or interests
therein, including air rights, and improvements
thereto in connection with said facilities;
•C. Optioning of a site or sites so as to have land
available for future, potential expansion; and,
•D. Other incidental and appurtenant facilities and
improvements designed to provide parking and
improve the convenience of the district area.”
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CAGID Key Accomplishments & Work In
Progress
•Key Accomplishments
•Stormwater repairs at 1500 Pearl and 1100 Spruce
•Gateless conversion at garages
•Re-opening of the Westend
•Boulder Social Streets
•Eastend River Walk
•Commutifi
•Work In Progress
•Expansion of EcoPass to part-time employees
•Art installation at 1100 Spruce
•Striping of on-street parking
•Special Events Programmatic Recommendations
•Cultural plan updates
•Formalize Outdoor Dining
•Digital Accessibility Compliance
30
Budget
Process
Overview
Commission &
Council Priority
Setting
Department
Work Plan
Alignment
Financial
Projections
and
Strategic
Planning
Department
Budget
Development
Citywide Budget
Development
Council
Review &
Adoption
31
Community Vitality Funds
OtherCityDistrict
ARPAGeneral FundCAGID
CCS/CCRS (Arts + Culture)Arts, Culture & HeritageUHGID
BJAD-Parking
BJAD-TDM
32
Revenues and Expenses
ExpensesRevenue
PersonnelParking Revenue
OperatingProperty Tax
Internal ServicesLeases, Rents, and Royalties
Debt ServiceSpecific Ownership Tax
CapitalOther Revenues
TransfersTransfers In
Sales Tax
33
2025 Budget Highlights
•Focus on realigning under utilized budget to
programs in need
•‘we are incredibly constrained in our ability to
take on new initiatives and positions’
•New dedicated sales tax for Arts, Culture and
Heritage
•Heavy expansion of Capital programs
•Enhancements focused on business and
employee support
•Headwinds
•Initiative #50 Voter Approval to Retain
Additional Property Tax Revenue (4% cap)
34
Summary of 2025 Budget Changes
•Realignments
•Shifting EcoPass savings to support maintenance operations
•Decrease in GF transfer to CAGID for credit card processing fees now GF obligation
•Enhancements
•Ambassador Program
•Outdoor Dining
•EcoPass expansion to part-time employees
•Arts + Culture gap year and program expansions
•Capital Highlights
•Hill Focused Streetscape Renovations and Revitalizations
•CMGC projects per garage starting in 2025
•Security Enhancements in Garages
•1% for Public Art on Capital Projects
35
Proposed Community Vitality Budget
% Change2025 Proposed2024 Approved
19.4%$7,394,906$6,193,701 Operating
8.4%5,039,9234,651,236Personnel
27.8%956,950748,719Transfers
21.1%906,510748,631Internal Services
---Debt Service
15.9%$14,298,289$12,342,287Total
72.8%8,980,223*5,197,789Capital
32.7%$23,278,512$17,540,076Total Including Capital
36
2025 –2030 Capital Improvement Program
2030 Proposed2029 Proposed2028 Proposed2027 Proposed2026 Proposed2025 Proposed
140,745137,330134,035130,854127,780125,223 1% For Public Art
-----500,000 Affordable Commercial
100,000 100,000 100,000 100,000 100,000 100,000 Boulder Junction Public Improvements
-----1,000,000 Garage Security Enhancements
-----1,705,000 Hill Streetscape Renovations
50,000 50,000 50,000 50,000 50,000 50,000 Interior Tenant Space Repairs
---4,500,000 --Pearl Garage Renovations*
--5,000,000 ---Randolph Garage Renovations*
-3,000,000 ----RTD Garage Renovations
750,000 ----5,000,000 Spruce Garage Renovations*
----5,000,000 -St. Julien Garage Renovation
500,000 500,000 500,000 500,000 500,000 500,000 Undergrounding CAGID Power Lines
----2,000,000 -Pearl Street Mall Refresh
1,540,7453,757,3305,784,0355,280,8547,777,7808,980,223Grand Total
37
% Change2025 Proposed2024 ApprovedRevenues
3.9%6,365,4536,126,749Other Revenues - Parking
2%1,469,8001,440,680Property Tax
-26%716,855968,816Transfers In
1.5%504,465497,010Leases, Rents and Royalties
121.8%502,976226,811Investment Earnings
2%65,43364,150Specific Ownership Tax
3.2%$9,624,982$9,324,519Total
% Change2025 Proposed2024 ApprovedExpense
1.4%$2,093,357$2,063,732Personnel
-2.5%3,595,8273,688,252Operating
59.9%692,451433,085Transfers
12.9%577,611511,414Internal Services
3.9%$6,959,247$6,696,484Total
11%5,550,0004,930,000Capital
7.1%$12,509,247$11,626,484Total Including Capital
Proposed CAGID Budget
38
Questions &
Feedback
39
Next Steps
Suggested Motion
Language
Commission recommends
approval of the 2025
Community Vitality proposed
budget including the 2025-2030
Capital Improvement Plan.
40
Boulder Economic
Indicators
First Quarter 2024
Louis Rosner: Economic Development Analyst
Introduction
Compared to a year ago, the national economic outlook has seen
significant improvement. Real GDP has grown for the sixth
consecutive quarter, though at a pace more aligned with pre-
COVID trends. In the summer of 2023, the Federal Reserve
pledged to halt rate hikes and has even hinted at potential rate
reductions in the near future. However, economic expansion,
strong job figures, and persistent price resistance may delay rate
cuts until late 2024 or possibly 2025. Despite elevated rates, price
levels stubbornly persist, with the Consumer Price Index (CPI)
clinging to the 3% mark.
Locally, the economy remains robust. While unemployment has
risen, this uptick may not signal a weak job market but rather a
growing labor force. Total employment has surged by 2.6%, while
the civilian labor force has expanded by 1%. Particularly
encouraging is the sustained positivity in business confidence,
marking consecutive quarters above the neutral threshold for the
first time since early 2022, as concerns of recession diminish.
However, office vacancies continue to pose a challenge to the
41
economy. With numerous Commercial Real Estate (CRE) loans
maturing this year, the broader economic impact remains to be
seen.
National Economic
Indicators
Source: Bureau of Economic Analysis
Percent Change in Real GDP
PercentPercent Change in Real GDP2017 Q12017 Q22017 Q32017 Q42018 Q12018 Q22018 Q32018 Q42019 Q12019 Q22019 Q32019 Q42020 Q12020 Q22020 Q32020 Q42021 Q12021 Q22021 Q32021 Q42022 Q12022 Q2202-10
-5
0
5
10
42
Source: Board of Governors of the Federal Reserve System (US)
Federal Funds Rate
PercentEffective Federal Funds RateJan 2017April 2017July 2017October 2017Jan 2018April 2018July 2018October 2018Jan 2019April 2019July 2019October 2019Jan 2020April 2020July 2020October 2020Jan 2021April 2021July 2021October 2021Jan 2022April 2022July 2022October 200
1
2
3
4
5
6
Source: Federal Reserve Bank of Atlanta
Sticky Price CPI
Percent ChangeSticky Price CPIJan 2017April 2017July 2017October 2017Jan 2018April 2018July 2018October 2018Jan 2019April 2019July 2019October 2019Jan 2020April 2020July 2020October 2020Jan 2021April 2021July 2021October 2021Jan 2022April 2022July 2022October0
-0.2
0.3
0.5
0.8
43
Local Indicators
Employment and Unemployment
Total employment is up 2.6% compared to the same time last year.
However, unemployment is up nearly a full percentage point from
February 2023 to February 2024. Across the board,
unemployment increased. This may not be due to job loss but
rather an increase in job seekers as the labor force expands.
Source: Bureau of Labor Statistics
Note: Seasonally Adjusted
207,000
March 2023 Total
Employment
Boulder
212,400
March 2024 Total
Employment
Boulder
44
Source: Bureau of Labor Statistics
Note: Seasonally Adjusted
Boulder County Total Employment
Thousands of PersonsBoulder CountyJan 2017April 2017July 2017October 2017Jan 2018April 2018July 2018October 2018Jan 2019April 2019July 2019October 2019Jan 2020April 2020July 2020October 2020Jan 2021April 2021July 2021October 2021Jan 2022April 2022July 2022October 20170
180
190
200
210
220
Source: BLS LAUS
3.5
February 2024
Unemployment
Rate
Boulder County
2.7
February 2023
Unemployment
Rate
Boulder County
45
Sources: BLS LAUS
Unemployment Rate
Boulder County, CO United States of America Colorado Denver-Aurora-Lakewood,
2020 2021 2022 2023
0%
2%
4%
6%
8%
10%
12%
14%
16%
Commercial Real Estate
Boulder's post-covid CRE market has been defined by office
vacancies which once again increased quarter over quarter.
Key CRE Statistics: Boulder County Submarket
Rentable
SF [%Δ]
%
Vacant
[%Δ]
Under
Construction
SF [%Δ)]
Avg Rent
($/SF/YR)
[%Δ]
Qtr. Net
Absorp
(SF)
Boulder
Office
6,481,301
[-1.0%]
21.3%
[+1.8%]
184,080
[0.0%]
$38.31
[-1.0%]
(79,62
Boulder
Industrial
10,888,581
[-0.5%]
4.4%
[+0.3%]
----------$17.05
[+.05%]
(23,20
Source: CBRE Research Q1 2024
46
Note: [%Δ] is percentage change from the previous quarter.
Source: Dean Callan Q1 2024 Report
Boulder County Office and Industrial Vacancy Rates
VacAll Boulder Office Boulder Industrial Central Boulder Office Downto
East Boulder Office
2023 Q1 2023 Q2 2023 Q3 2023 Q4
0%
5%
10%
15%
20%
25%
30%
35%
CRE Sales
Sales Volume Cap Rate Average # Transactions
Q1 2024 $44.7M 6.2%34
Q4 2023 $29.8M 6.2%22
Q3 2023 $251M 6.3%54
Q2 2023 $160M 5.9%43
Q1 2023 $44.7M 6.2%34
Source: Dean Callan 2024 Q1 Report
Note: Cap (Capitalization) Rate is a measure of the estimated risk
and return of an investment property. A higher cap rate indicates
higher risk and higher potential return.
47
Residential Real Estate
The Federal Housing Finance Agency's Home Price Index tracks
changes in the prices of residential properties purchased with
mortgages. Between Q3 2023 and Q4 2023 home prices fell for
the first time since the end of 2022. Despite the quarter over
quarter decrease, home prices still rose in 2023.
Source: Federal Housing Finance Authority
Note: Not seasonally adjusted
FHFA Home Price Index for Selected Geographies
FHFABoulder Denver US National2000 Q12003 Q12006 Q12009 Q12012 Q12015 Q12018 Q12021 Q12001 Q12002 Q12004 Q12005 Q12007 Q12008 Q12010 Q12011 Q12013 Q12014 Q12016 Q12017 Q12019 Q12020 Q12022 Q12023 Q1100
200
300
400
500
600
48
Source: Zillow
Note 1: Average rental rates for San Fransisco between July and August 2020 backfilled
due to missing data.
Note 2: Click to remove series.
Average Rental Rate For Selected Geographies
Average Rental RateBoulder, CO Denver, CO Fort Collins, CO San Francisco, CA
Seattle, WA United StatesJan 2017Jan 2018Jan 2019Jan 2020Jan 2021Jan 2022Jan 2023Jan 2024May 2017Sep 2017May 2018Sep 2018May 2019Sep 2019May 2020Sep 2020May 2021Sep 2021May 2022Sep 2022May 2023Sep 2023$1,000
$1,500
$2,000
$2,500
$3,000
Tax Revenue
49
Source: City of Boulder Revenue Reports
Tax Revenue Collections: 12- Month Rolling Sum
RevenueRetail Sales Tax Revenue
Total Business and Vehicle Use Tax Revenue
Total Construction Use Tax Revenue
1/2 Dec 2003Apr 2011Aug 2018Nov 2004Oct 2005Sep 2006Aug 2007Jul 2008Jun 2009May 2010Mar 2012Feb 2013Jan 2014Dec 2014Nov 2015Oct 2016Sep 2017Jul 2019Jun 2020May 2021Apr 2022Mar 2023$0
$50,000,000
$100,000,000
$150,000,000
$200,000,000
Two important commercial shopping districts, 29th Street and
North Broadway, posted declines in tax revenue over the past 12
months. For 29th street, this is its third straight quarter of decline.
Encouragingly, North 28th Street, Pearl Street, and University Hill
saw increased tax revenue from the same time the year prior.
12 Month % Change in Net Tax Receipts for Selected
Geographies: Jan 2023-Jan 2024
50
Source: City of Boulder Revenue Report
1%1%1%
-3.17%-3.17%-3.17%
15.08%15.08%15.08%
-3.52%-3.52%-3.52%
5.2%5.2%5.2%
4.19%4.19%4.19%
12 Month % Change No change
Downtown 29th Street North 28th
Street
Commercial
North
Broadway
Pearl Street
Mall
University Hill
-5%
0%
5%
10%
15%
Venture Capital and Investment
FDIC-insured deposits experienced a substantial surge from 2020
to 2021, driven by increased savings during the COVID-19
pandemic. However, the momentum in deposit growth has
decelerated and 2023 is poised to mark the first year of a deposit
decline since the dot-com bubble. This decline can be attributed
to a dual set of factors. The lack of confidence in the stability of
the banking system and elevated interest rates redirected funds
away from banks, channeling them into higher-yield institutions.
Additionally, the improving economic outlook spurred increased
consumer spending.
51
Source: FDIC
FDIC Insured Deposits
DepositsBoulder County Boulder1994199619982000 20022004200620082010201220142016201820202022$0
$2,500,000
$5,000,000
$7,500,000
$10,000,000
$12,500,000
$15,000,000
$17,500,000
Venture Capital investment in Colorado declined by 5% Q4 2023
to Q1 2024. However, the city of Boulder saw a 28% increase.
Venture capital investment boomed in 2021, thanks in part to
cheap capital and massive government stimulus. While 2022 and
2023 saw investment decline, it appears it could be returning to
the pre-covid trend.
52
Source: Pitchbook
VC Investment
Colorado VC Investment Boulder VC Investment Boulder County VC Investment2016 Q42017 Q22017 Q42018 Q22018 Q42019 Q22019 Q42020 Q22020 Q42021 Q22021 Q42022 Q22022 Q42023 Q22023 Q4$0
$2,000,000,000
$4,000,000,000
$6,000,000,000
$8,000,000,000
Small Business Innovation Research Program Awards
Year SBIR/STTR Awards Award Amounts
2023 60 $34,279,758
2022 87 $36,957,815
2021 62 $43,070,078
Source: Small Business Innovation Research Program
Business Confidence
Business confidence broke the neutral threshold for the first time
since Q2 2022. Additionally, Q2 and Q3 2024 marks the first time
since Q1 and Q2 2022 two straight quarters of above neutral
confidence. As the fear of recession wanes, businesses have a
53
brighter outlook heading into the second and third quarters of
2024.
Source: Leeds Business Research Division
Business Confidence Colorado/National
Business Confidence Neutral2006 …2007 Q32009 Q12010 Q32012 Q12013 Q32015 Q12016 Q32018 Q12019 Q32021 Q12022 Q32024 Q12006 Q42008 Q22009 Q42011 Q22012 Q42014 Q22015 Q42017 Q22018 Q42020 Q22021 Q42023 Q220
30
40
50
60
70
The Leeds Business Confidence index is a measure of the
expectations of Colorado business leaders for the national
economy, state economy, industry sales, profits, hiring plans, and
capital expenditures. Values above the neutral threshold reflect a
positive outlook. For more information, visit the Leeds School of
Business website.
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