SUBJECT:
Title
Special District Review & Policy
Department
DEPARTMENT: Town Manager's Office
Planning & Development
Presenter
PRESENTER(S): Melissa Wiley, Deputy Town Manager
Sarah Nurmela, Planning & Development Director, AICP
end Melissa Buck, Senior Vice President, UMB Bank
end
Time
TIME ESTIMATE: 60 minutes
end
For time estimate: please put 0 for Consent items.
Fiscal
FISCAL SUMMARY:
N/A
Policy
POLICY ISSUES:
The Town's Special District Policy outlines criteria for evaluation and approval of metro districts proposed to facilitate financing of new development. The intent of the policy is to provide greater awareness of and parameters for new districts in the Town. The Town Council will evaluate the scope of the policy and provide direction on whether any changes or updates are desired.
Recommendation
STAFF RECOMMENDATION:
Staff recommend receiving this information and presentation.
Body
SUMMARY/KEY POINTS
* The Town's Policy for Reviewing Service Plans for Special Districts was adopted in July 2022 to establish criteria for evaluating and approving Service Plans for metro districts.
* The policy includes a point system that emphasizes alignment with the Town's goals for Housing Diversity, Sustainability Outcomes, Economic Health and Vitality, and Equity, Health, and Culture.
* The policy is intended to be a living document updated to reflect evolving Town goals and policies and as changes in development trends, economy, and legislation occur over time.
BACKGROUND OF SUBJECT MATTER:
The Town adopted the Policy for Reviewing Service Plans for Special Districts in July 2022 to establish criteria for evaluating and approving Service Plans for metro districts (see Attachment 1). Metropolitan Districts, or metro districts, are a common tool used by developers in Colorado to finance new development. Metro districts assess property taxes over a set period to enable new development to "pay its own way" without imposing new fin...
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