Title
A resolution of the City Council of the City of Colorado Springs, Colorado approving the First Amendment to the Amended and Restated Consolidated Service Plan for the Bradley Heights Metropolitan District, Nos. 1, 2, and 3, for a district located in the Vicinity of Bradley Road and Marksheffel Road in Southeastern Colorado Springs.
Presenter:
Mike Tassi, Assistant Director, Planning + Neighborhood Services
Peter Wysocki, Director, Planning + Neighborhood Services
Body
Summary:
The attached resolution will approve a limited amendment to the Amended and Restated Consolidated Service Plan for Bradley Heights Metropolitan Districts, Nos. 1, 2, and 3 (The District).
The proposed amendment is limited to increasing the operational mill levy for District No. 2 from 10 mills to 20 mills.
This property is in City Council District No. 4
Background:
Metropolitan districts are created under Colorado Statute and City Policy to finance and maintain certain public improvements utilizing a property tax mill levy as the revenue source. These districts are a separate legal entity from the City, with independently elected boards.
The Amended and Restated Service Plan for this district was approved by City Council in May of 2010. The district has already issued its maximum allotted debt and no additional debt is being requested. It is due to this fact and the minimal nature of this request that this proposal is being treated as a first amendment as opposed to a 2nd amended and restated plan.
This amendment requests an increase in the maximum operations and maintenance mill levy for District No. 2 from 10 mills to 20 mills. The applicant indicates that the request is necessary given the requirement to maintain water quality ponds and Jimmy Camp Creek channel maintenance. This is coupled with maintenance for additional park improvements, landscaping, and covenant control. The District board will have the ability to set the mill levy at less than 20 if co...
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