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BOCC approves Berkeley Village Metro District service plan for 82‑unit subdivision; cap set at $5 million debt and 60 mills
Summary
The Board approved a new metropolitan district service plan for a 4.7‑acre, 82‑unit infill development (Berkeley Village). The service plan limits district debt to $5 million and caps combined mill levies at 60 mills (50 mills for debt, 10 for operations); county‑hired financial advisers found the proposed debt discharge plan reasonable.
Adams County commissioners on April 22 approved a metropolitan district service plan to create the Berkeley Village Metro District, a special district proposed to finance public improvements for an 82‑unit subdivision on about 4.7 acres near East 56th Avenue and Federal Boulevard.
Planner Brian Marron presented the staff analysis, saying the proposed district would provide curb, gutter and sidewalk, parking and lighting, grading and landscaping, underground utilities, retaining walls, stormwater detention and related public improvements. The service plan submitted to the county caps the district’s maximum debt at $5,000,000 and sets a combined mill levy cap of 60 mills (a 50‑mill cap for debt and an estimated 10 mills for operations). An independent financial review retained by the county (Hilltop Securities) concluded the proposed debt could be discharged on a reasonable basis, Marron said. The packet estimated the public improvements at roughly $6,000,000 and projected net bond proceeds of about $1.7 million on an initial issuance.
Applicants and legal counsel explained disclosure and governance requirements. David O’Leary, attorney with Spencer Fane, outlined statutory disclosure obligations for districts and said builders must provide recorded disclosures and an overlapping mill‑levy calculation to prospective buyers. O’Leary described election and budget processes that allow resident participation in district governance; he and applicant representatives said district elections are held in odd‑numbered years and the district’s board composition becomes open to resident voters as the neighborhood develops.
Tremont Homes representative Chad Rodriguez said his firm will both develop and build the project and emphasized upfront disclosure to buyers. Counsel and staff discussed timing: because public improvements must be in place before houses obtain permits, developers typically advance construction costs and rely on the district and bond market to reimburse a portion of those costs later; the service plan and the county’s financial review determine whether that financing structure is economically feasible.
The BOCC voted to approve the service plan after discussion; the motion passed 4–1 (one commissioner absent from the land‑use portion earlier in the meeting).
