SUBJECT: PUBLIC HEARING: A Resolution Of The Board Of Trustees Of The Town Of Erie, Colorado Approving The First Amendment To The Consolidated Service Plan For The Summerfield Metropolitan District Nos. 1, 2 And 3; And, Setting Forth Details In Relation Thereto.
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DEPARTMENT: Community Development
PRESENTER: R. Martin Ostholthoff, Director
STAFF RECOMMENDATION: Approval.
Recommendation
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SUMMARY AND BACKGROUND OF SUBJECT MATTER:
The Town has received a request to modify the original Consolidated Service Plan (Service Plan) for the Summerfield Metropolitan District Nos. 1, 2 and 3 (District). The Service Plan was originally approved in January 2013. The District encompasses approximately 644 acres of residential and commercial land and is located at the southwest corner of State Highway 52 and County Road 12.
The first amendment to the Service Plan proposes:
1) An increase to the debt issuance limit from $70,000,000 to $100,000,000.
The applicant’s narrative (Attachment A) provides a detailed explanation of the proposed amendment. Approval of this amendment to the Service Plan does not constitute the Town’s approval of any future development plan or zoning on the subject property.
ATTACHMENTS:
A. Application Materials
B. Summerfield First Amended Service Plan
C. Resolution 17-___