Village at Twin Peaks: Twin Peaks Metropolitan District
Our Firm serves as general counsel to the Twin Peaks Metropolitan District, located in the City of Longmont, Colorado. The District was organized, in part, to assist the City and the Longmont Urban Renewal Authority in providing public financing for the redevelopment of the Twin Peaks mall which consists of approximately 58 acres located at the intersection of Boulder County’s Diagonal Highway 119 and South Hover Road.
The proposed redevelopment is underway and the new outdoor Village at the Peaks is a regional retail, restaurant, and entertainment destination for Longmont residents. Key anchors include Whole Foods, Regal Cinema, Wyatt’s Wine and Spirits, Sports Authority, and a Sam’s Club. These large format retailers surround a landscaped village green which will include a children’s play area, outdoor stage, and water features. In addition, a variety of restaurants and other retailers are anticipated to complete the development.
Our Firm assisted in the organization of the District. In addition our Firm assisted in negotiating a Redevelopment and Reimbursement Agreement with the City, the District, the Urban Renewal Authority, and NMMS Twin Peaks (the developer). This agreement provides for the pledge of sales tax and property tax increment revenue generated from the redevelopment of the property within the District as well as a pledge of the District’s debt service mill levy to finance public infrastructure necessary to develop the Village at the Peaks. The financing was accomplished through the issuance of Certificates of Participation by the City. The District is also responsible for maintenance of the parking lots, interior streets, the village green, and other amenities.
For more information about the Village at Twin Peaks, please visit www.villageatthepeaks.com.
RidgeGate: Rampart Range Metropolitan District Nos. 1-9
Our Firm serves as general counsel to the Rampart Range Metropolitan District Nos. 1-9, which provide for the construction, financing and operation and maintenance of certain public improvements to serve the approximately 3,500 acre sustainable mixed-use, master-planned and transit-oriented community known as RidgeGate. RidgeGate straddles Interstate 25 south of Lincoln Avenue in the City of Lone Tree, Colorado, and is home to HealthOne Sky Ridge Medical Center, Lone Tree Recreation Center, Lone Tree Arts Center, Charles Schwab campus, Cabela’s retail store, and Lincoln Commons Retail Center. The development also includes over 1,200 residences ranging from apartments to single family detached units and approximately 1,000 acres of parks, trails, and open space. Accessible by car from the Lincoln Avenue Interchange to the north, the RidgeGate Parkway Interchange to the south, and by train via RTD’s E and F Light Rail Lines, RidgeGate offers direct connections and services to the broader Denver metropolitan area.
With the metropolitan district structure in place, our Firm has successfully represented the Rampart Range Metropolitan Districts in negotiating and issuing various series of bond and loan indebtedness, as well as executing critical intergovernmental agreements, both by and among the Districts themselves and with other local governments such as the City of Lone Tree, Douglas County, area park and recreation districts, and water and sanitation districts that provide direct services to the RidgeGate development. Utilizing revenue sources that include public improvement fees, development fees, sales tax rebate revenue, and property tax revenues, such agreements have resulted in, among other amenities, the construction of the I-25/RidgeGate Parkway Interchange, expansion of sanitary sewer service, and soon the development of three new light rail stations planned as part of RTD’s Southeast Line extension.
For more information about RidgeGate, please visit www.RidgeGate.com