Title
A Resolution of the City of Colorado Springs approving an Amended and Restated Service Plan for the Rock Metropolitan District serving an area in the center of the northern portion of Colorado Springs.
Presenter:
Kyle Fenner, Senior Planner, Planning and Neighborhood Services
Kevin Walker, Interim Director, Planning and Neighborhood Services
Body
Summary:
This amended and restated service plan would replace the existing approved service plan for the Rock Metropolitan District ("District") which was originally created in 2022 to serve the residential uses of this not-yet-developed but approved project. The amended plan conforms with Council's recently adopted Special District Policy and Model Service Plan. The amended service plan would specifically allow for potentially higher debt service and operational mill levies for these residential districts, and for the "pre-authorization" of limited future debt issuances, without the need to come back to Council for separate approval.
As of this date, there are no residential property owners in this District.
This item was discussed by the City Council Budget Committee on August 27, 2024. Approval of this amended and restated service plan requires a simple majority vote of City Council.
This property is located in City Council District No. 2.
Background:
This metropolitan district was organized in mid to late 2022 following Council's approval of the original service plan earlier that same year on February 22, 2022. This metropolitan district is intended to encompass various phases and infrastructure of the residential property within the Heights at Cottonwood Creek development. The District sits entirely within the Norwood Special Improvement and Maintenance District and currently encompasses about 8.9 acres. One-hundred and twenty-four total dwelling units are anticipated within the district.
Consistent with the new Special District Policy, this service plan allows for debt service mill levi...
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