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RESOLUTION: 2007-46
SUBJECT: Second Amended and Restated Service Plan for Fossil Ridge Metropolitan Districts No. 1, No. 2 and No. 3.
ADDRESS: The general location is bounded by C-470 on the west, Alameda on the north, Yale on the south and existing residential subdivisions on the east.
RECOMMENDATION: Approval
FUNDING SOURCE: Not Applicable
SUMMARY AND BACKGROUND OF SUBJECT MATTER:
On August 28, 2006, City Council approved the Amended and Restated Service Plan for Fossil Ridge Metropolitan Districts No. 1, No. 2, and No. 3, all located in the northern area of the Rooney Valley.
The Fossil Ridge Districts have submitted a modification to the approved plan to accomplish the following purposes:
1. Two parcels of land known as the Extendicare and Simon parcels are being included within the District boundaries. Inclusion of these properties will allow increased expenditures for public improvements which will be accomplished by bonding.
2. Bonding limits are being increased for public improvements to accommodate increased inflationary and construction costs.
3. Flexibility is provided to use a mix of General Obligation and Revenue Bonds to accomplish District construction of public improvements.
4. The deadline for approval of a Service Plan Amendment for Fossil Ridge District No. 4 is being extended to December 31, 2008. This District will be used for future phases of construction as they are needed.
Public Works and the City Attorney's Office have reviewed the Second Amended and Restated Plan and find it acceptable.
RESOLUTION ADOPTION DATE: August 27, 2007
ORIGINATED BY: Public Works Department
STAFF PERSON RESPONSIBLE: Richard J. Plastino, Director of Public Works, 303-987-7901
DOCUMENTS ATTACHED: Resolution
2007-46
Second Amended
and Restated Service Plan
SUBMITTED BY:
Richard Plastino, Director of Public Works
REVIEWED BY:
Joni Inman, Director Mayor and City Manager's Office
Michael J. Rock, City Manager
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