City Council Minutes 1983 03 15 - Laserfiche WebLink

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ORDINANCE #787 - TAP FEE CHANGES Administrator Wurl PUBLICATION AUTHORIZED RESOLUTION #13 - COLORADO TECHNOLOGICAL CENTER - METRO- POLITAN DISTRICT Joe Howard, 6865 South Elati St., Littleton Gene Andrus, Representative of Hanifen, Imhoff, Inc. Bond Underwriter 3/15/83 Page -4- Councilmembers had a copy of the ordinance; Attorney Rautenstraus read it by title only on first reading and the request was for publication. Stated fee structure was not changed by the ordinance except in the area of multi- family units which provides them with a tap size which better suits their needs, rather than our present ordinance. Councilman Ferrera moved, Councilman Fauson seconded that Ordinance #787 - Tap Fee Changes be published. Question called for. All in favor. Motion carried unanimously. Attorney Rautenstraus read the resolution in its entirety and councilmembers had a copy of it. A representative of the Colorado Technologi- cal Center stated the purpose of organizing the Metropolitan District was for financing improvements at the site. There are plans to improve 1300' of Dillon Road into a 4-lane arterial; install another loop on the sewer, water utilities and streets. Also plan to tear out the entry-way and redo the landscaping. in early spring. The one disadvantage of the district would be the additional mill levy for funding. Hill levy increase would be limited to the CTC area only. Advised their company had been employed by MDC to prepare financial aspects of the pro- ject. Councilmembers had been provided copies of a comparison of mill levies. Stated the average rate in this vicinity was 17 mills over the time required to retire the debt, while others ranged from 25 to 30 mills. Was important to keep the mill levy down to be competitive to sell the property to firms. They are currently in the process of forming this type of district in the City of Broomfield. Their mill levy at this point is 23~ to 24~. Present tenants would be a part of the district since there are within the geographical boundary of the district to be formed and would be assessed the necessary mill levy to retire the debt. The individual is allowed to vote for inclusion of being members of the Board, must be individuals and not corporations.