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Centennial council approves special assessment tool to finance Festival Center townhomes; developer to carry assessments until sale
Summary
Centennial city council voted 7‑0 Aug. 5 to allow the Festival Commons Metropolitan District to use a special‑improvement district and special‑assessment bonds to finance infrastructure for a 114‑unit townhome project at Festival Center.
Centennial city council on Aug. 5 unanimously approved Resolution 2025‑R‑27 consenting to the Festival Commons Metropolitan District’s use of a special‑improvement district (SID) and special assessment bonds to finance public infrastructure for a 114‑unit townhome project at Festival Center.
The council action authorizes the metropolitan district to use a statutory SID assessment tool to raise money for infrastructure—sanitary sewer, storm sewer, water lines, streets, landscaping and retaining walls—without creating a direct city cash obligation. Neil Marciniak, Centennial’s economic development director, told council the…
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