Loveland City Council reviews amended service plan for Lee Farms development project

The Loveland City Council meeting on May 6, 2025, focused on the proposed amendments to the service plan for the Lee Farms Metropolitan District. The meeting aimed to address the district's request for modifications to align with city policies and to facilitate the development of residential units in the area.

The presentation outlined the district's plans, which include four metro districts designed to manage infrastructure financing and maintenance for a total of 1,019 residential units. This development will consist of 316 duplexes, 190 townhomes, and 427 single-family homes, among others. The maximum debt limit for the district remains at $22 million, with a proposed total public improvement cost of approximately $68.6 million.

Key changes to the service plan include a reduction in the operations and maintenance mill levy cap from 10 to 10 mills, consistent with other metro districts. The total aggregate mill levy cap is proposed to be 60 mills. The council emphasized that all initial debt must be issued within five years of the amended service plan's approval, and any material modifications to the plan require prior consent from the city council.

City staff confirmed that the district has undergone multiple revisions to meet city requirements and has collaborated closely with city officials to ensure compliance with the 2017 plan. The council was informed that the district's request for an extension of the debt issuance deadline is crucial for moving forward with the development.

The meeting concluded with a request for the council to adopt a resolution approving the amended service plan, allowing the district to proceed with its development plans. The council's decision will play a significant role in shaping the future of the Lee Farms area and its integration into the broader Loveland community.