SUBJECT: A Resolution Of The Town Of Erie, Colorado, Modifying The Service Plan For The Redtail Ranch Metropolitan District By Providing For A Six Month Extension For The Dissolution Date; 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 Redtail Ranch Metropolitan District Service Plan (“Service Plan”) was approved by the Board of Trustees on October 28, 2014. Section VIII-Dissolution of the Service Plan requires the District to file a dissolution petition with the District Court in the event that a preliminary plat is not approved on the subject property within 18 months of the approval of the Service Plan. The Town is currently processing a preliminary plat for the subject property but it is taking longer than expected.
The District is requesting a six month extension of this dissolution clause, thereby requiring a preliminary plat approval by October 27, 2016. Section VIII-Dissolution of the Service Plan allows the Board to grant up to two six month extensions of the 18 month dissolution clause.
Granting the six month extension does not constitute the Town’s approval of any future development plan or zoning on the subject property.
ATTACHMENTS:
A. Resolution 16-___
B. Application Materials