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Commissioners approve assessment and reimbursement agreement for Tierra del Este phase 2; splash pad, roads and annex funding included
Summary
The court approved an assessment order that levies $525 annually per lot on 998 lots in Tierra del Este 3, phase 2, and authorized a reimbursement agreement enabling Rancho Real Land Holdings LLC to be repaid for phase‑2 improvements over a 20‑year schedule.
El Paso County Commissioners on Monday approved an order to levy an annual assessment and a companion reimbursement agreement for phase 2 of the Tierra del Este 3 public improvement district (PID), a development on the county’s eastern Montana corridor.
The court adopted a service-and-assessment plan that will assess $525 per lot per year against 998 residential lots in phase 2, creating an expected annual assessment revenue of $523,950. The county also approved a reimbursement agreement that allows the developer to be repaid for authorized capital improvements over a 20‑year term.
Why it matters: The PID is structured as a reimbursement model in which the developer fronts the capital costs for roads, a proposed county annex warm shell and park amenities and the PID repays the developer from the annual assessments. Commissioners said the measures enable critical infrastructure—road extensions and public amenities—in an unincorporated area that the county and…
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