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. 1
(Legislative)
Presenter:
Travis Easton, P.E., Deputy Chief of Staff - Infrastructure and Development
Body
Summary:
This Facilities Payment Agreement (the “Agreement”) sets forth the terms and conditions under which Peak Metropolitan District No. 1 (the “District”) will reimburse the Colorado Springs Municipal Airport (the “Airport”) for construction costs related to stormwater improvements
Background:
The City is undertaking construction of stormwater improvements for the benefit of the Airport Business Park, to be located directly west of Grinnell Boulevard (the “Project”). This Project is the second phase of stormwater improvements. The first phase construction Facilities Payment Agreement was approved by Council on August 12, 2025, Resolution No. 97-25. The costs of construction are eligible to be reimbursed by the District. The City’s Stormwater Enterprise (“SWENT”) is the constructing department for the Project. The District reimbursements under the Agreement will be used by the Airport to pay for construction costs.
Previous Council Action:
N/A
Financial Implications:
The City may be reimbursed up to a maximum amount of $ 1,498,542.25.
City Council Appointed Board/Commission/Committee Recommendation:
N/A
Stakeholder Process:
N/A
Alternatives:
N/A
Recommended Action
Proposed Motion:
Approve 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 Peak Metropolitan District No. 1
Summary of Ordinance Language
N/A