Title
RESOLUTION APPROVING A PROPERTY TAX INCREMENT REVENUE AGREEMENT WITH ADAMS COUNTY, COLORADO
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Summary and Background Information:
Project Updates
REGen LLC has executed a Letter-of-Intent with DelWest for the construction of the residential portions of the project. Specifically, the agreement contemplates a takedown schedule in three phases:
Phase 1 - Single Family Home blocks
Phase 2 - Affordable Rental block - to close within 12 months after closing Phase 1.
Phase 3 - Remaining central block - to close within 18 months after Phase 2.
The project work is divided along the same lines as the MDA with REGen, LLC providing roads, water, sewer, storm water, and open space infrastructure. DelWest will build out the vertical product and all the improvements from the back of curb to the center of the parcel including sidewalks, tree lawns, alleys, internal utilities, and internal greenspaces.
URA Plan Process
The URA board has taken additional steps in the URA process, as required by House Bill 1348. Specifically, three Additional URA Board seats have been added and filled. Further, HB 1348 requires agreements be in place with all taxing entities for the property. To date, good progress has been made:
1. South Adams County Fire Protection District - Agreement approved by the Board on April 18, 2017.
2. South Adams County Fire Protection District - Agreement approved by the Board on May 10, 2017.
3. Urban Drainage Flood Control District - Agreement approved by the Board on June 15, 2017.
4. Rangeview Library District - Agreement approved by the Board on June 21, 2017, although the Library Board made some amendments to the version they approved. The URA staff and attorney analyzed some changes they made in the version they approved and judged the changes acceptable.
5. Adams County - After providing all of the supplemental information requested by Adams County, the Board of Commissioners considered the request on June 27, 2017. At a follow up ...
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