Triview Metropolitan District, April 17 – Economic development incentive approved for retail development

Economic incentive development agreement approved
Construction award
Water storage tank update
Financial update
Outgoing director comments
Independent mail ballot election
Executive session

By Natalie Barszcz

At the Triview Metropolitan District (TMD) meeting on April 17, the board approved an economic development incentive agreement for a 30-acre retail site adjacent to Monument Marketplace, awarded the construction contract for its administrative building and utility operations center, and awarded the Phase 2 agreement for the construction of the 1.5-million-gallon tank in Promontory Pointe. The board held an executive session to discuss the purchase and sale of water and land, economic incentive agreements, and agreements with the Town of Monument (TOM) and other governmental and private entities.

Board candidates Erik Demkowicz and Ann-Marie Jojola attended the meeting (see below for election details).

Economic incentive development agreement approved

District Manager James McGrady requested the board consider an economic development incentive agreement with Legacy Development Partners LLC (LDP) that consists of sales tax share back, utility tap fee concessions, and infrastructure construction assistance.

Chris Hake, founder of LDP, said the agreement had been a long time in the making, taking years of coordination with the property owner to plan the proposed 30-acre retail development on the southside of Blevins Buckle Trail (behind Home Depot and Kohls). The developed site could deliver over 250,000 square feet of new commercial space, anchored by a large national retailer, with a blend of local, regional and national restaurants, other stores, and a potential site for a four-story hotel on the southeast portion of the development. The proposed major anchor tenant would be the first to open its doors around October 2027, said Hake.

In a 3-0 vote, the board approved the development incentive agreement and authorized McGrady to sign. Secretary/Treasurer James Barnhart arrived after the motion had passed.

Later in the meeting, the five-member board, all in favor of the economic incentive development agreement, discussed the need for a South Jackson Creek Parkway traffic flow study. The board anticipates increased traffic flow during the construction phase and after the development is built, with a need for traffic pattern upgrades before the new retail area opens.

Note: The district would provide the necessary road upgrades for Jackson Creek Parkway as part of the economic development incentive. After the main retail store is built, the district expects reimbursement will be made through the collection of tap fees and the road and bridge fees from the development of the remaining 10 sites within the development. The district would also receive property tax revenue from the site occupants, and a portion of the sales tax revenue.

Construction award

McGrady said the district received six bids for the construction of the district’s Administrative Building and Utility Operations Center to be built on a 2-acre site at West Baptist Road and North Terrazzo Drive. See https://wp.ocn.me.v25n1tmd/. The district received several bids around the $4 million mark and he requested the board award the contract to Crossland Construction Company Inc. to construct the building for about $3.382 million. The board awarded the contract, with McGrady authorized to sign it, in a 4-0 vote. Director Jason Gross arrived after the motion passed.

Water storage tank update

McGrady requested the board approve the CM/GC agreement between TMD and Kiewit Infrastructure for Phase 2 of the water storage tank construction services for $971,800. And he said:

The district is using about $700,000 of the $1 million grant from the American Rescue Plan Act (ARPA) for Phase 2 of the 1.5-million-gallon water storage tank project, to be located alongside the existing tank at B Plant, St. Lawrence Way, in Promontory Pointe.
Phase 3 will take place in 2026 using the remaining $300,000 of the ARPA grant to make the site ready for a tank almost identical to the existing tank, just slightly larger.

The board unanimously approved the agreement for Phase 2 with authorization for McGrady to sign the contract. See https://wp.ocn.me.v25n1tmd/.

Financial update

The board accepted the February and March financial report and approved 21 checks over $5,000 for about $1.3 million. Of note was the payment of $257,774 for the budgeted and recently received snowplow dump truck.

McGrady said the district’s cash position is good and property tax revenue was deposited in March with the second deposit expected in June. Cash is going out for various projects, and some financing is necessary to move projects forward. For the second month in a row, the sales tax distributed by the TOM to the district was lower than expected. The town notified the district that some businesses are delinquent in making tax payments, and town staff continue to send out delinquency notices and hand deliver requests for payment to those businesses.

The state used to handle taxes for the town until the town adopted the voter-approved Home Rule Charter and then began self-collecting sales tax revenues, however collecting sales tax requires a skill set that the town did not have, therefore, the town had to engage a consultant to assist with the collection of sales tax revenue. It is costing the town money to collect sales tax, a service the state completed in the past, said McGrady.

Note: According to the current intergovernmental agreement (IGA) between the TOM and TMD, the district currently receives 1.5% of the sales tax revenue collected by the TOM from businesses within the town. The town also distributes Regional Building Use Tax and Motor Vehicle Tax to the district.

Outgoing director comments

Vice Chair Anthony Sexton, who is leaving the board, thanked the staff, the previous and incumbent board directors, and water attorney Chris Cummins for his expertise on water. He said he continues to learn and has thoroughly enjoyed his eight-year tenure, and said, “Great things are happening in the district and I am confident that the district will continue to accomplish even more. It is easy to table action, but with regard to making decisions about water and infrastructure, it is risky, as everything gets more expensive when you sit on your hands. Nothing good happens by not developing in the Tri-Lakes area community, shutting down smart development does not help a great community improve roads and schools, and does not pay our teachers and police department more, it only brings higher taxes.

“As a board director on a water utility board, it is not my job to advocate for development, but without wise development the district cannot provide residents with renewable water and upgraded wastewater services, and maintain roads and parks. It is important to take a responsible approach that is not anti or pro anything, just considering things, and allowing the town to make the development decisions. Without development the district does not receive the revenue needed to provide great services, and taxing the daylights out of people to provide good service, is not the way forward, but it is wise to spread costs out for future residents that may move here in the next 10 to 15 years,” said Sexton.

Independent mail ballot election

The district will hold an election on May 6 to determine three board of director positions. Four candidates are vying for three seats to be vacated due to term limitations. The ballot also includes a question relating to a $12.6 million bond to widen Higby Road from Jackson Creek Parkway through to Harness Road. Please note all ballots must be signed and delivered to one of the following locations:

The secured metal box inside the district office at 16055 Old Forest Point, Suite 302, Monument, available only during regular business hours and through 7 p.m. on May 6.
Mailed/dropped off with the designated election official by 7 p.m. on May 6 at 2154 E. Commons Ave., Suite 2000, Centennial, CO 80122-1880.

Specific office timings for dropping off ballots, and information about the candidates and the proposed Higby Road widening project related to the bond question, can be found at https://triviewmetro.com.

Executive session

The board moved into an executive session at 7:58 p.m. to discuss the purchase, acquisition, lease, transfer or sale of real, personal, or other property interests needed by the district, pursuant to Colorado Revised Statutes section 24-6-402(a), and to receive legal advice pursuant to CRS section 24-6-402(4)(b), as it relates to water matters and agreements with the TOM and other governmental and private entities. The session also determined the district’s positions relative to matters that may be subject to negotiations, as it related to the purchase and sale of water and land, economic incentive agreements, and agreements with the TOM, and other governmental and private entities pursuant to CRS, section 24-6-402(4)(e).

Sheffield confirmed to this reporter that when the board moved back into the regular session at 8:31 p.m., no action was taken and the meeting promptly adjourned at 8:32 p.m.

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Meetings are usually held on the third Thursday of the month at the district office located at 16055 Old Forest Point, Suite 302. The next regular meeting is scheduled for May 22 at 5:30 p.m. For meeting agendas, minutes, and updates, visit https://triviewmetro.com.

Natalie Barszcz can be reached at nataliebarszcz@ocn.me.