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Council rejects request to extend Lee Farms metro district debt deadline
Summary
Loveland City Council unanimously voted down a developer request to extend the Lee Farms Metropolitan District’s debt-issuance deadline, citing concerns the proposal would not meet the city’s current metro-district standards without a service-plan modification.
Loveland — The City Council voted 9–0 to reject a resolution that would have extended the debt-issuance deadline for Lee Farms Metropolitan Districts Nos. 1–4.
The extension request, presented by attorney David O’Leary of Spencer Fane and supported by materials from the district, would have amended a provision of the district’s 2016 service plan to allow the district more time to issue debt needed for public improvements. O’Leary told the council that…
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