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Parker council unanimously approves commercial property inclusion in Cottonwood Highlands Metro District
Summary
Council approved Resolution 205-17 consenting to the inclusion of two commercial lots into Cottonwood Highlands Metropolitan District No. 2; developer Michael Vickers said the district has no debt and the property will comply with the district service plan and an intergovernmental agreement.
The Parker Town Council unanimously approved Resolution 205-17 on March 24, consenting to the inclusion of Lots 1 and 2, Compark Village Filing No. 7 Amendment No. 4, into the Cottonwood Highlands Metropolitan District No. 2, a commercial district.
Town attorney Jamie Wynne told council the district’s service plan requires town consent for additions after formation and that the property will be governed by the district service plan and an existing intergovernmental agreement between the district and the town.
Developer Michael Vickers addressed council and described the project and his long tenure developing in Parker. “We are investing a considerable amount of money right now privately that will be eligible for public improvements and district bonds at a later date,” Vickers said. He said the district currently carries no debt and that the board has agreed to the petition to include the property. Vickers estimated current private investment for public improvements at about $2.5 million to $3 million.
Wynne and Vickers explained that operational maintenance is handled first through a property owners’ association and that the district’s operations and maintenance mill levy (10 mills) can, over time, take on responsibilities such as landscaping, streetscape and road maintenance. Vickers noted the budgeted annual maintenance for snow removal and streetscape is about $32,000.
Council members asked routine questions about future responsibilities and financial impacts; staff and the developer said the inclusion imposes no immediate cost on the town and that required maintenance and operations would be handled through the property owners’ association and the district’s O&M mill levy until the district assumes those duties.
Motion and vote: Council member Hendricks moved to approve Resolution 205-17; Barrington seconded. The council recorded a unanimous vote in favor (Hendricks — yes; Barrington — yes; Wilkes — yes; Dyack — yes; Franzen — yes; Hefta — yes).
The resolution advances the district’s ability to include the identified commercial parcels and keep them eligible for later district bonds and public-improvement reimbursement as described in the service plan and IGA.
