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Wheat Ridge council approves metropolitan districts to finance Lutheran Legacy campus redevelopment
Summary
After a public hearing and a presentation by Intermountain Health's counsel, the Wheat Ridge City Council approved a service plan and intergovernmental agreement to form 12 Legacy Metropolitan Districts to finance public improvements for the former Lutheran Legacy campus.
WHEAT RIDGE, Colo. — The Wheat Ridge City Council voted unanimously Monday to approve a service plan and intergovernmental agreement authorizing the creation of Legacy Metropolitan Districts Nos. 1–12 to finance public infrastructure for the redevelopment of the former Lutheran Legacy campus.
The districts, proposed by Intermountain Health, would cover not-for-profit and private development within the roughly 100-acre campus and would allow the developer to issue debt to pay for public improvements identified for the site.
Megan Murphy, an attorney with White Bear Ankele Tanaka & Waldron speaking for Intermountain Health, told the council the service plan limits taxable property to the campus boundary and includes “a maximum debt issuance ... a hundred and 10…
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