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Pueblo West to advance Sprouts land-sale contract; reimbursement agreement for off-site improvements likely
Summary
Staff presented a draft contract to sell district property for a Sprouts Farmers Market development through Iron Rock Development and discussed possible reimbursement agreements for public improvements such as sewer and road extensions. Board directed staff to update the Monday packet and address water-demand conditioning before closing.
Matt Lund, director of business administration, briefed the board on a proposed sale of district property to Sprouts Farmers Market through its partner Iron Rock Development. Lund said staff received a clean contract that will be in the public packet if finalized, and that the board could see the sale on Monday’s agenda pending final contract edits.
Lund said developers had inquired about reimbursement agreements to cover improvements that benefit the public — for example, sewer or roadway extensions — and staff included a contractual commitment to establish a reimbursement agreement prior to closing. "We commit to establish a reimbursement agreement with them prior to closing," Lund said.
Board members asked about water usage projections for the proposed commercial parcels and whether the district’s newly proposed water-demand rules (the 1.68 acre-feet commercial threshold and penalties for overuse) would apply and protect district resources. Lund said staff had discussed water with the developer and would enforce water-demand rules and overage penalties in accordance with the district’s regulations.
Next steps: staff will update the contract language in the Monday packet, include terms for reimbursement discussions, and confirm the water-demand and overage terms that will apply to the development.
