Resolution 2008-44 - Laserfiche WebLink

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I. INTRODUCTION A. Overview and Need for tl~e District This Service Plan ("Service Plan"), submitted in accordance with Part 2 of the Special District Act (' 32-1-201, et seq., C.R.S.), sets forth a proposal for the formation of Takoda Metropolitan District (the "District") which is intended to serve that area which is coextensive with the Takoda planned unit development (the "Development"). The Development is located entirely within the boundaries of the City of Louisville, Colorado (the "City") and will be developed by RMCS, LLC, a Colorado limited liability company, or its ;>uccessors and/or assigns (the "Land Owner"), pursuant to such land and special use submittals approved by the City. The District has no power over land use approvals. The Development is planned for residential, commercial /office, and retail uses and is located south of Paschal Drive, north of Christopher Village, west of Highway 42, and east of the Burlington Northern Santa Fe rail line. The primary objective of the District is to furnish public improvements consisting of the spine infrastructure. Formation of the District is necessary in order for the public improvements required for the Development to be provided in the most economic manner possible. The District will be formed to assist in the funding, construction and acquisition of such public improvements within and near the boundaries of the District, limited to public improvements authorized under the City-Approved Plans within the categories of street improvements, park and recreation related improvements, and certain water, sanitary sewer and drainage improvements (collectively, such improvements shall be referred to herein as the "Public Improvements"). The District will authorize bonded. and other indebtedness that will finance a portion of the Public Improvements. (See the discussion below in Section VI, Financial Plan, concerning the District's limited debt issuance ability.) Although the District provides a tool for financing Public Improvements needed for the Development, approval of the District does not relieve the Land Owner, developer or subdivider (and their successors and assigns) of their obligations to the City to complete the Public Improvements that are required by the City. The District is aquasi-municipal corporation, separate from the City of Louisville. It is the intent of both the District and the City that t:he District's primary purpose is to finance the construction of the Public Improvements. The City provides services and the District will not provide ongoing services. It is the express intent of the District and the City to avoid fragmentation in governance, avoid duplication, and to establish clear lines of communication and responsibility to promote open and accountable government.