Title
A Resolution approving the Intergovernmental Agreement by and between the City of Colorado Springs, on behalf of its enterprise the Colorado Springs Municipal Airport, and the Peak Metropolitan District No. 2
(Legislative)
Presenter:
Troy Stover, Business Park Development Director, Airport Economic Development
Body
Summary:
This Intergovernmental Agreement (the "Agreement") establishes the terms and conditions under which Peak Metropolitan District No. 2 (the "Maintenance District") will:
1. Assume responsibility for maintaining certain existing public improvements;
2. Outline the process for accepting responsibility for future public improvements;
3. Define the scope of maintenance services to be provided; and
4. Grant the Maintenance District a non-exclusive license to access and maintain these public improvements
Background:
The Consolidated Service Plan (the "Service Plan") for the Peak Metropolitan District (the "District") was approved by City Council on August 28, 2018, and subsequently amended on February 12, 2019 (First Amendment), and March 22, 2022 (Second Amendment). The Service Plan authorizes the District to provide and maintain certain public improvements and services within its boundaries. These improvements include, but are not limited to, water, drainage, stormwater, sanitation, streets, safety protection, parks and recreation, public transportation, and mosquito control.
Districts No. 1 and No. 3 are responsible for financing and constructing public improvements to support the development of Peak Innovation Park. District No. 2, designated as the Maintenance District, is primarily responsible for the ongoing operation and maintenance of specific public improvements related to the development of Peak Innovation Park.
Previous Council Action:
The District was approved by City Council on August 28, 2018, amended on February 12, 2019, and again on March 22, 2022.
Financial Implications:
N/A
City Council Appointed B...
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