City of Colorado Springs - File #: 23-390

• File #: 23-390
• Version: 2
• Name: Evergreen Ridge
• Type: Resolution
• Status: Mayor's Office
• File created: 7/17/2023
• In control: City Council
• On agenda: 9/26/2023
• Final action: 9/26/2023
• Title: A Resolution of the City of Colorado Springs approving a Service Plan for the Evergreen Ridge Metropolitan District serving an area east of South 26th Street and north of Wheeler Avenue. Presenter: Mike Tassi, Assistant Director- Planning & Neighborhood Services Department Peter Wysocki, Director, Planning & Neighborhood Services Department

Date	Ver.	Action By	Action	Result
9/26/2023	2	City Council	adopted	Pass
9/11/2023	1	Council Work Session	referred

Title
A Resolution of the City of Colorado Springs approving a Service Plan for the Evergreen Ridge Metropolitan District serving an area east of South 26th Street and north of Wheeler Avenue.

Presenter:
Mike Tassi, Assistant Director- Planning & Neighborhood Services Department

Peter Wysocki, Director, Planning & Neighborhood Services Department

Body
Summary:
This consolidated service plan would allow formation of the Evergreen Ridge Metropolitan District (District) for the purpose of providing public improvement financing and ongoing services for the proposed Evergreen Ridge development in the southwestern part of Colorado Springs.

There would be only one residential district.

This approximately 20 acre property is in City Council District No. 3.

This service plan utilizes the Special District Policy (approved in 2022) and model service plan which among other provisions, allow for higher residential mill levies and provide an opportunity to present a financial plan to support issuance of future debt without needing to come back to City Council for subsequent approval.

There are no requested exceptions from the new model service plan.

Background:
This single residential district is planned to include 138 residential units (townhomes) over 20 acres with an estimated population of 342. A development plan (Attachment 1) was approved in October of 2022. The front page of that approved development plan is included in the back-up materials as Attachment 2.

Consistent with the 2022 Special District Policy, this service plan allows for debt service mill levies of up to 50.0 mills. The residential district will be authorized to certify an operations and maintenance levy up to 20 mills.

The request includes a pre-authorization of $7,500,000 (see section V.A.13 of Service Plan on Page 12). The estimated public improvements costs are just over $5 million. These estimates are supported by detailed calculations for a variety of public improvements inclu...