Council approves service plan for Red Mountain Ranch metro districts; developers will still fund $21M gap
The council approved Resolution 52 to advance a consolidated service plan for two Red Mountain Ranch metropolitan districts. Presenters said the districts could issue up to $12.74M in bonds (net proceeds ~ $9.9M) toward $31M in infrastructure, leaving a developer-funded gap of roughly $21M; debt mill levy capped at 50 mills.
The full story
Council approved Resolution 52 to allow a consolidated service plan for two metropolitan districts that will support the Red Mountain Ranch Planned Unit Development.
Sign up to keep reading.
Your free newsletter brings you what your city council, county, and school board discussed and decided.
or