Consolidated Service Plan for
Denmore Metropolitan District Nos. 1-5 Approved
After a public hearing during Wednesday night’s meeting, the Board of Trustees approved the Consolidated Service Plan for Denmore Metropolitan District Nos. 1-5.
The following are the primary terms of the Service Plan:
- The Districts are approximately 144 acres in area, consisting of the proposed Denmore development located at the northwest corner of Firestone Boulevard and Frontier Street
- Maximum Debt Mill Levy: 50 mills subject to the Mill Levy Adjustment. The Maximum Debt Mill Levy may increase to 60 mills if the Town and developer do not agree to share the Regional Improvements costs identified in the Service Plan
- Maximum Deby Mill Levy Imposition Term: 40 years from initial debt issuance
- Maximum Operation and Maintenance Mill Levy: 60 mills until initial debt issuance, then 10 mills after debt issuance subject to the Mill Levy Adjustment
- Town Mill Levy: 3 mills collected yearly
- Estimated Public Improvement Costs: $58,664,199
Approval of the Service Plan for the Districts does not constitute the Town’s approval of any future development or zoning applications for the subject property.