Title
A Resolution of the City of Colorado Springs approving an Amended and Restated Service Plan for the Reagan Ranch Metropolitan District Nos. 1-4 serving an area in the west central part of Banning Lewis Ranch
Presenter:
Carl Schueler, Planning Manager- Comprehensive Planning, Planning & Development Department
Peter Wysocki, Planning and Community Development Director
Body
Summary:
This amended and restated service plan would replace the existing approved service plan for the Reagan Ranch Metropolitan Districts Nos. 1-3 ("Districts") which were originally created in 2020 to serve this area in west central Banning Lewis Ranch. The amended plan conforms with Council's recently adopted changes to the Special District Policy and model service plan. The amended service plan would specifically allow for potentially higher debt service and operational mill levies for the residential districts, and for the "pre-authorization" of future debt issuances, without the need to come back to Council for separate approval. As part of this request, the petitioners are requesting approval to create one additional residential metropolitan district (District No. 4) and to allow for inclusion of other newly acquired property into existing District No. 3. The petitioners are also requesting to maintain their overall debt limitation a $121,000,000 but to remove the existing district-specific caps in favor of a single aggregate amount for all of the districts.
This item was discussed by the City Council Budget Committee on October 25, 2022 and introduced to Council at a Work Session on November 7, 2022 at which time there was high level discussion pertaining to the implications of the new Policy and model plans, but no requests for specific changes or information (also refer to discussion below).
This property is located in City Council District No. 4.
Background:
These original three metropolitan districts were created in late 2020 following Council's approval of t...
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