Title
A Resolution of the City of Colorado Springs approving a Service Plan for the Terra Mesa Metropolitan District relating to 42 acres located east of the intersection of Powers Boulevard and Research Parkway.
Located in Council District 2
Presenter:
Drew Foxx, Planner II, City Planning Department
Kevin Walker, Planning Director, City Planning Department
Body
Summary:
This service plan would allow the formation of the Terra Mesa Metropolitan District (the "District") to finance public improvements for the use and benefit of all anticipated inhabitants and taxpayers of the District as set forth in Exhibit D.
This item was heard at City Council Work Session on July 13, 2026.
Background:
The proposed District would finance public improvements and fund ongoing operational and maintenance costs for the service area as specified in Initial District Boundary Map (Exhibit C). The District's purpose is to plan, design, engineer, finance, and refinance costs associated with providing the public improvements and services necessary to support the developable 42-acre area. Approval of this Service Plan for the District will allow the district to provide the financing and construction of public improvements as specified in Exhibit D and fund ongoing services as authorized by the service plan in Exhibit E. There is currently no commercial development proposed within the District's boundaries.
Pursuant to the Special District Policy, all future district inclusions, if any, must be identified and presented with the initial petition and illustrated on the future district inclusions map to the Service Plan. The District shall not include any property outside the service area without the prior written consent of the City Council.
Approval of this petition to create the Terra Mesa Metropolitan District would set the proposed maximum debt authorization for the District is $15,000,000, based on $14,870,505 in estimated public improvements costs. The financial proj...
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