SUBJECT: PUBLIC HEARING: Consideration Of A Resolution Of The Board Of Trustees Of The Town Of Erie, Colorado Approving The First Amendment To The Service Plan For The Vista Ridge Metropolitan District; And Setting Forth Details In Relation Thereto.
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DEPARTMENT: Community Development
PRESENTER: R. Martin Ostholthoff, Director
FISCAL INFORMATION: NA
Cost as Recommended:
Balance Available:
Budget Line Item Number:
New Appropriation Required:
STAFF RECOMMENDATION: Approval.
Recommendation
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SUMMARY AND BACKGROUND OF SUBJECT MATTER:
The Town has received a request to amend the Service Plan (Plan) for the Vista Ridge Metropolitan District (District). The proposed amendment would eliminate the existing mill levy cap of 42.827 mills. The District is requesting the amendment in order to refund the District’s outstanding general obligation debt, thus allowing for the reissuance of general obligation debt at a lower interest rate.
The applicant’s narrative (Attachment B) explains the details of the proposed amendment.
Additionally, the District held a public meeting on June 13, 2016; a copy of the presentation materials and public comment letters are attached hereto (Attachment D).
PUBLIC NOTICE
Notice of the Public Hearing was provided as follows:
§ Published notice in the Colorado Hometown Weekly on August 31, 2016.
§ Mailed notice to each property owner within the District.
ATTACHMENTS:
A. Resolution 16-___
B. Land Use Application and Narrative
C. First Amendment To The Service Plan For the Vista Ridge Metropolitan District
D. Public Meeting PowerPoint and Public Comment Letters