DACONO — Special taxing districts, which will help pay for roads and infrastructure for sewer and water in new developments, continue to be created south of Colo. Highway 52.
The Dacono City Council approved the formation of three multimillion-dollar metropolitan taxing districts within the city’s borders Monday night. The districts will allow developers to set additional property taxes on the land and to issue bonds to pay for basic infrastructure.
The three districts are in two Dacono developments.
One is in 227-acre Dacono Estates, where 685 new homes are proposed near the northwest corner of Weld County roads 8 and 13. Developers estimate it will cost $11.4 million to build public improvements, and they plan to start issuing bonds in 2007, according to city records.
The other two districts are in Bridle Creek, near the southwest corner of Weld County roads 10 and 15.
One district covers multi-family development on 82 acres, where developers estimate a $4.9 million price tag for proposed public improvements. They plan to issue bonds in 2008.
The second district is on 201 acres slated for 654 single-family homes, with an estimated cost of $12.5 million for public improvement. Those bonds are expected to be issued next year.
Including the three new districts, nine developments in Dacono now are using metro taxing districts to help finance infrastructure costs, city administrator Karen Cumbo said.
City council will also consider approving districts at the Legacy Park development at its next meeting Sept. 12.
But the formation of the districts doesn’t mean city officials expect to see development begin immediately, Cumbo said.
“I believe it when I actually see building permits being pulled,” she said.
Of the three projects under construction in Dacono — Autumn Valley, Sharpe and Sweetgrass — only Sweetgrass has a metro district, she said.
That district was approved approximately four years ago.
Douglas Crowl can be reached at 303-684-5253, or by e-mail at email@example.com.