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August 30, 2014
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Windsor Town Board approves service plans for four new metropolitan districts

The Windsor Town Board unanimously approved service plans for four new metropolitan districts in town during the board’s meeting last Monday.

Metropolitan districts are special districts organized to fund the creation of new infrastructure and provide services within the districts’ boundaries. The service plans approved by the town board lay out the rules and regulations for the new districts.

The four proposed metropolitan districts are:

» Eagle Crossing — this 125-acre district will be located at the northeast corner of Fairground Avenue and Crossroads Boulevard, and extend northeast to Highland Meadows Parkway. The district doesn’t propose any residential development, only commercial development. The developer projects a value of $40.4 million after build-out and a total debt cap of $15 million. The district’s financial plan calls for collecting 29 mills for debt service and four mills for operations and maintenance.

» Harmony Ridge — this residential district will initially be 187 acres, but may cover up to 450 acres after all of the district’s future inclusions. It will be located at the northeast corner of County Road 13 and Harmony Road. The developer projects a value of $12.1 million at build-out and a total debt cap of $8 million. The district’s financial plan calls for collecting 36 mills for debt service and three mills for operations and maintenance.

» Northlake — this district includes a residential, commercial and light industrial component. It will initially be 461 acres, but may cover 482 acres after all the district’s possible inclusions. The district will be located in the southwest corner of Weld County Road 76 and Colo. 257, with a small part north of Weld 76. The developer projects a value of $143 million at build-out and a total debt cap of $64 million. The district’s financial plan calls for collecting 35 mills for debt service and four mills for operations and maintenance.

» Tacincala — this 366-acre residential and commercial district boundaries will be Weld County Road 72 on the north, Colo. 72 on the east, and Weld 70 on the south. The developer projects a value of $32.8 million at build-out and a total debt cap of $47 million. The district’s financial plan calls for collecting 35 mills for debt service and four mills for operations and maintenance.


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My Windsor Now Updated Aug 30, 2014 07:13PM Published Sep 3, 2014 11:28PM Copyright 2014 My Windsor Now. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.