Resolution 2008-44 - Laserfiche WebLink

Home Browse Search

7'Jl.~~y ~~~ asking for Council approval of a resolution approving the Service Plan on or before September 16. This relatively rapid approval is needed for the district to hold a November 4 election to approve organization of the District and the TABOR ballot issues required for financing. Missing the November 4 date would require a delay of an entire year, because November 3, 2009 would be the next possible date for a TAB',OR election to authorize bonds. Metro districts are an established tool used to help constrain the costs associated with constructing streets, parks and utilities in mew developments, and we ask that the City allow us to use this tool to ensure that the unique qualities of the Takoda development become a reality. There are over a thousand metro districts located in cities and counties across Colorado, RMCS has made metro district presentations to City Council and the Business Retention and Development Committee previously this year. During those meetings we listened to members concerns, and we have tried to shape our Service Plan to answer the issues raised. The Service Plan is intended to limit this District's powers to the furnishing of Public Improvements for streets and traffic safety, water, sewer and drainage, and parks and recreation. Other than the bare minimum needed to administer the District and provide the improvements, the District would have no ongoing maintenance powers -the idea is to have the District build the public improvements, dedicate them, pay for them, and go away. The District can only spend funds on Public Improvements that will bf; dedicated to the City. The District will have limited financial powers. The maximum mill levy for debt and operations combined is 45 mills, however we project that only 35 mills will ultimately be required. This lower mill levy will be possible because our proposal includes a very high up- front development fee to be paid by the developer as each residential unit is constructed and sold. We look forward to presenting the Takoda Metropolitan District proposal to City Council. As always, RMCS appreciates the opportunity to work with staff and City Council to ensure that the Takoda Development becomes an outstanding addition to the City in which we can all take pride. Very truly yours, RMCS, LLC Richard Brew Justin McClure 7?6 Front SI. Suite B Louisville. CO K0027 • Phone ?20.52~~1.36?0 Fax 72Q.~6~.14~~?