Title
A Resolution approving a service plan allowing for the creation of the Chaparral Pointe Metropolitan District
(Legislative)
Presenter:
Carl Schueler, Planning Manager- Comprehensive Planning, Planning and Development Department
Peter Wysocki, Planning and Development Director
Body
Summary:
This is request by Century Communities for approval of a service plan would allow formation of the Chaparral Pointe Metropolitan District. The District would provide financing for local improvements in this small residential development and also own and maintain a small stormwater pond. In lieu of an HOA, the petitioners are requesting authority to administer covenant enforcement and common area maintenance functions through this district.
Previous Council Action:
There have been no prior special district related actions applicable to these properties. Council has approved. Residential land use approval requests are pending for this property, and the proposed service plan contains language addressing his contingency.
This item was discussed the City Council Budget Committee on August 14, 2018 and introduced at an August 27, 2018 Council Work Session, as further described below
Background:
The proposed Chaparral Pointe Metropolitan District (the "District"), would be used to finance local public improvements and provide ongoing operations and maintenance functions.
The Service Plan conforms with the City's Model Service Plan with respect to mill levy caps and other financial limitations. The maximum debt service mill levy will is requested to be 30.00 mills and the maximum operations and maintenance mill levy will be 10.0 mills, both subject to Gallagher adjustments which will be retrospective back to 2006.
The maximum debt authorized to be issued by the District will be limited $5,000,000, provided that the foregoing shall not include the principal amount of Debt issued for the purpose of refunding or refinancing lawfully issued Debt. This fi...
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