Resolution 2008-44 - Laserfiche WebLink

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B. Configuration and Boundaries Initial and Future Boundaries andl Service Area Initially the boundaries of the District will cover a 10.75 acre area as shown in Exhibit A-1, which is the land owned by 1tMCS, LLC as of the date that the petition for organization of the District will be filed with the Boulder County District Court (anticipated to be on or before September 18). By the date of the organizational election on November 4,1tMCS, LLC or its affiliates are expected to have exercised options to purchase an additional 51.60 acres as shown on Exhibit A-2, and shortly after the District records the Court Order organizing the District, these additiona151.60 acres would be included into the District, for a total District area of approximately 62.35 acres. The District shall not impose any tai;es or incur debt or any financial obligation whatsoever prior to the inclusion of the property shown in Exhibit A-2 into the District boundaries. It shall be a material modification of this Service Plan for the District to enter into any inclusion agreement that is inconsistent with this Service Plan. If the property shown in Exhibit A-2 its not included into the District on or before July 4, 2010, then the District shall dissolve. The inclusion, if any, of property out side of the area shown in Exhibit A-2 shall be considered a material modification of this Service Plan and shall require: (1) the approval of the landowner whose property would be included, (2) the approvals of the inclusion by City Council resolution, and (3) the District's compliance with the requirements of the Special District Act. The exclusion, if any, of property within the boundaries of the District as shown on Exhibit A- 2shall require (1) the approval of the landowner whose property would be excluded, (2) the approval of the exclusion by City Council resolution, and (3) the District's compliance with the requirements of the Special District Act. At build-out, it is anticipated that the District will contain approximately 350 residential units, including approximately 123 single family detached homes, 178 multi-family homes, and 49 row homes. At build-out, it is also anticipated that the District will contain approximately 71,743 square feet of commerciaUoffice/retail space. Projections and phasing for the District are more particularly set forth in Exhibit B, the Financial Plan attached to this Service Plan. The District is currently completely undeveloped, and the current population of the District is zero. At build-out of the residential and commercial development within the District (projected to be completed by 2016), the expected assessed valuation is estimated at approximately $16,895,580. Approval of this Service Plan by the; City does not imply approval of the development of a specific area within the District, nor does it imply approval of the floor area of commercial or industrial buildings or number of residential units which maybe identified in this Service Plan or any of the exhibits attached thereto. The permitted level of development within the District is as contained in the City-Approved Plans. 2