SUBJECT:
Title
PUBLIC HEARING: A Resolution of the Board of Trustees of the Town of Erie Approving the Service Plan for Lafferty Canyon Metropolitan District
Body
DEPARTMENT: Planning and Development
PRESENTER: Zachary P. White, Attorney for the Applicant
Malcolm Fleming, Town Administrator
Fred Starr, AICP, Planning and Development Director
TIME ESTIMATE: 30 minutes
only required for non-consent items
STAFF RECOMMENDATION:
Recommendation
Consider the information contained in the independent review of the Service Plan and the Applicant's response and either approve the resolution, or provide direction for staff to pursue additional information and conduct further review.
End
SUMMARY AND BACKGROUND OF SUBJECT MATTER:
The applicant submitted a request for approval of the Service Plan for the Lafferty Canyon Metropolitan District, in November of 2020 (See attachment). This first draft of the Service Plan was reviewed by Ehlers who provided their comments to the Town and the applicant on January 22, 2021 (See Attachment). The applicant provided their response to these review comments and a revised Service Plan on August 10, 2021 (See Attachment). The reason for this timing was to allow the review and approval of the Canyon Creek filing 7 & 8, preliminary plat, which has recently been approved by the Board of Trustees.
The stated objective of the service plan is to authorize the District to provide for the planning, design, acquisition, construction, installation, financing, relocation, and redevelopment of the Public Improvements from the proceeds of Debt to be issued by the District. All Debt is expected to be repaid by taxes imposed and collected for no longer than the Maximum Debt Mill Levy Imposition Term and at a tax mill levy no higher than the Maximum Debt Mill Levy or repaid by Fees as limited by Section V.A.6.
This Service Plan is intended to establish a limited purpose for the District and explicit financial constraints ...
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