Title:
A Resolution to allow the Tuscan Foothills Village Metropolitan District to include a property outside the inclusion area in their approved service plan.
Presenter: Conrad Olmedo, Comprehensive Planner II, Planning & Community Development Department
Carl Schueler, Planning Manager- Comprehensive Planning, Planning & Community Development Department
Body
Summary:
The subject area is located along the west side of Centennial Boulevard, south of Chuckwagon Road. This Resolution would allow inclusion of approximately 8.07 acres directly northwest of the existing District boundary into the Tuscan Foothills Village Metropolitan District ("District") that is outside the inclusion area in their approved service plan.
Previous Council Action:
City Council approval of creation of the Tuscan Foothills Village Metropolitan District on September 27, 2016 (Resolution 97-16). This item was introduced at a December 11, 2017 Council Work Session.
Background:
This district was created in 2016 to primarily finance public localized improvements benefiting development in this small development area. At the time of creation, City Council addressed the issue of local public improvements, particular limits on the maximum authorized indebtedness, and a required phase-in of the operational mill levy. The current service plan allows for a maximum debt service mill levy of 30.0 mills, and a maximum authorized debt of $1,100,000. There are uniquely imposed operational mill levy caps, requiring no operational mill levy in 2017 and 2018 and only 5.0 mills thereafter until and unless the board of the District is over 50% controlled by resident property owners. These limits would all remain in place if this request is approved.
This request would allow the inclusion of property into the District that is outside the inclusion area in their approved service plan. In the City's Model Service Plans, the petitioner establishes the initial boundaries of the district as Ex...
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