Title
A Resolution of the City of Colorado Springs approving a limited amendment to the amended and restated consolidated service plan of the Allison Valley Metropolitan Districts No. 1 & No. 2 to all an increase of the maximum operational mill levy from 10.0 mills to 20.0 mills.
Presenter:
Allison Stocker, Planner II, Planning and Community Development Department
Kevin Walker, Interim Planning and Community Development Director
Body
Summary:
This is a request to approve an increase of the maximum operational mill levy for Allison Valley Metropolitan Districts No 1 and No 2 from the current 10.0 mills to 20.0 mills. This request is made because 10 mills does not provide sufficient funding for ongoing maintenance and operational costs.
The Allison Valley Metropolitan District was created under the City's prior model service plan which had a maximum operations and maintenance mill levy of 10 mills. However, in the prior model service plan January 1, 2006 was the date to which the assessment valuation rates were tied. The rate on January 1, 2006 was 9.15%.
The Applicant is requesting 20 mils which aligns with the new model service plan for operations and maintenance, if approved, they will be required to tie the assessment valuation rate to July 12, 2022, as required in the new model service plan. The rate on July 12, 2022 was 6.95%.
As such, this request is being reviewed as a limited amendment to the service plan.
Background:
The Allison Valley Metropolitan Districts Nos. 1 and 2 were originally approved on July 12th, 2006 and were established as Allison Valley Metropolitan District No 1 and Allison Valley Metropolitan District No 2. These districts were established by Resolution 129-06 and were approved on August 22, 2006.
The original service plan for the Allison Valley Metropolitan Districts Nos. 1 and 2 was amended in 2015 to correct certain errors and discrepancies found in the 2006 original approval. This was the last and only amendmen...
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