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File #: 20-240    Version: 1 Name: Reagan Ranch Metro Dist Nos. 1-3
Type: Resolution Status: Mayor's Office
File created: 5/22/2020 In control: City Council
On agenda: 8/25/2020 Final action: 8/25/2020
Title: A resolution approving a service plan allowing for the creation of the Reagan Ranch Metropolitan District Nos. 1-3. (Legislative) Presenter: Carl Schueler, Planning Manager- Comprehensive Planning, Planning & Development Peter Wysocki, Director of Planning and Community Development
Indexes: Metropolitan District, Service Plan
Attachments: 1. Resolution, 2. Powerpoint, 3. Attachment 1-2020 07 01 - Service Plan - Reagan Ranch MD Nos. 1 - 3, 4. Attachment 2-Service Plan Transmittal Letter - Reagan Ranch MD Nos. 1-3, 5. Attachment 3 -Supplement to Service Plan - Reagan Ranch MD Nos. 1-3, 6. Attachment 4- 2020 07 01 - Revised Supplement to Service Plan - Reagan Ranch MD Nos. 1-3, 7. Attachment 5-2020 07 01 - Redline Service Plan - Reagan Ranch MD Nos. 1-3, 8. Attachment 6- MD Public Improvement Map, 9. Attachment 7-Public Improvement Table {final}, 10. Attachment 8-Reagan Ranch MD No. 2 - Regional Public Improvements Summary - with Initial Inclusions {final}, 11. Attachment 9-Reagan Ranch Metropolitan District No. 1 - Public Improvements Summary - Initial Inclusions {final}, 12. Attachment 10- Reagan Ranch Metropolitan District No. 1 - Regional Public Improvements Summary {final}, 13. Attachment 11- Reagan Ranch Metropolitan District No. 2 - Public Improvements Summary - Future Inclusions {final}, 14. Attachment 12- Reagan Ranch Metropolitan Distridct No. 2 - Regional Costs, 15. Attachment 13- Reagan Ranch Metropolitan District No. 3 Public Improvements Summary - Initial Inclusions {final}, 16. Schueler let 08.18.20, 17. Ellicott Resolution signed 8_10_2020 (002), 18. Signed Resolution 70-20.pdf
Title
A resolution approving a service plan allowing for the creation of the Reagan Ranch Metropolitan District Nos. 1-3.

(Legislative)

Presenter:
Carl Schueler, Planning Manager- Comprehensive Planning, Planning & Development
Peter Wysocki, Director of Planning and Community Development

Body
Summary:
This service plan would allow the formation of the Reagan Ranch Metropolitan District Nos 1-3 ("Districts") to finance public improvements cost and provide services for a proposed development area located in the vicinity of the southeast corner of Marksheffel Road and State Highway 94 in the Banning Lewis Ranch Master Plan area.

This item was discussed by the City Council Budget Committee on June 9, 2020 with a follow-up presentation on June 23, 2020. The Budget Committee requested and was provided with District-specific maximum debt authorizations based in disaggregated and update public improvements cost estimates, as well as cost recovery. These discussions are further summarized below.

This agenda item was introduced at a July 13, 2020 City Council Work Session, at which time there we no additional comments or questions.

Background:
These proposed metropolitan districts would provide property tax-based public improvements financing and services for the proposed Reagan Ranch project in the west-central part of Banning Lewis Ranch. The overall proposed district area encompasses about 235 acres with approximately 133.6 acres proposed to be included initially, and another 101.8 acres identified as future inclusion areas. District No. 1 would encompass the initially developed northerly residential phase of this project. These future inclusion areas (former Powers Dairy) are not currently owned by the petitioner. However, the petitioner has represented that he has these properties under contract, and the purchase agreement includes a consent to incorporate the properties in this service plan.

The service plan does not request any direct deviatio...

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