To: Honorable Mayor and Members of Town Council
Through: David L. Corliss, Town Manager
From: Michael J. Hyman, Town Attorney
Title
Resolution Authorizing the Inclusion of Property within the Hillside at Castle Rock Metropolitan District
Body
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Executive Summary
Hillside at Castle Rock Metropolitan District (the “District”) has requested that the Town Council approve the inclusion of certain property within the boundaries of the District.
Background
On May 3, 2016, by Resolution No. 2016-054, the Town Council approved the Service Plan for the District (the “Plan”), which Plan was amended on June 17, 2018, by Resolution 2018-067. In 2019, the former owner and developer of the property within the District excluded a parcel of land, commonly known as the Arbors Parcel, from the boundaries of the District. At that time, the former owner and developer was beginning the process of a financing transaction for the District and wished to exclude the Arbors Parcel as no final development plans were yet completed for that parcel.
The proposed 2019 financing, however, never occurred and, in 2021, a new development group, BLVD Builders, purchased the Arbors Parcel, along with all of the property within the boundaries of the District. A new financing is being proposed and a new development plan is in place, which plan includes the Arbors Parcel. BLVD Builders, as the 100% owner of the Arbors Parcel, has petitioned the District for the re-inclusion of the Arbors Parcel within the District pursuant to Section 32-1-401(1), C.R.S. Because the Intergovernmental Agreement between the District and the Town requires the Town to approve all inclusions of property within the District, the District is now requesting that the Town Council approve the re-inclusion of the Arbors Parcel.
Staff Recommendation
Town Staff recommends that Town Council approve the inclusion of the Arbors Parcel within the boundaries of the District.
Proposed Motion
“I move to approve the Resolution as introduced by title.”
Attachments
Attachment A: Resolution
Attachment B: Letter from Miller & Associates