Title
RESOLUTION APPROVING THE CANAL AVENUE METROPOLITAN DISTRICT SERVICE PLAN AND THE INTERGOVERNMENTAL AGREEMENT BETWEEN THE CITY OF COMMERCE CITY AND THE CANAL AVENUE METROPOLITAN DISTRICT IN CASE MD-107-18
Body
Summary and Background Information:
The Canal Avenue Metro District is proposing a new Service Plan Agreement to create a 90-acre Medium-intensity Industrial & Office-flex development called Canal Avenue Industrial Park, which would provide approximately 730,000 sq.ft. of building. This Service Plan Agreement would:
Allow for the debt authorization amount of $30,000,000.
A mill levy of 35 mills is proposed, with a cap of 50 mils.
Staff Responsible (Department Head):
Chris Cramer, Director of Community Development
Staff Member Presenting:
Robin Kerns, Planner
Financial Impact:
N/A
Funding Source:
N/A
Staff Recommendation:
The Development Review Team (DRT) recommends that City Council approve the proposed Service Plan Agreement for the Canal Avenue Metro District.
Suggested Motion:
I move to approve Resolution 2018-68