Title
RESOLUTION APPROVING THE NEXUS NORTH AT DIA METROPOLITAN DISTRICT SERVICE PLAN AND THE INTERGOVERNMENTAL AGREEMENT BETWEEN THE CITY OF COMMERCE CITY AND THE DIA METROPOLITAN DISTRICT IN CASE MD-108-19
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Summary Statement:
The Nexus North at DIA Metro District is proposing a new Service Plan and Intergovernmental Agreement to create a 158-acre Employment Center development called Nexus North at DIA. This Service Plan and Agreement would:
• Allow for the debt authorization amount of $50,000,000.
• A mill levy of 50 mills is proposed, with a cap of 50 mills.
Background Information:
• The City Council must approve all Metro District Service Plans and Amendments.
• Metro Districts must file an annual report to the city.
• The debt of a Metro District is not the obligation of the city, the city has no liability for Metro District debt, and Metro District debt does not impact the city’s debt limit.
The proposed Service Plan for the Nexus North at DIA Metro District has been reviewed by the Finance Department, the City Attorney’s Office, the Public Works Department, and the Community Development Department for any issues related to their respective areas of expertise. After reviewing the proposed Service Plan, staff is recommending that City Council approve the request.
Staff Responsible (Department Head): Chris Cramer, Director of Community Development
Staff Member Presenting: Jenny Axmacher, City 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 Nexus North at DIA Metro District.
Suggested Motion:
1. Approve the request as submitted by the applicant (recommended by the DRT).
2. Approve the request subject to conditions.
3. Deny the request.