Steamboat 700 debate continues

Capital costs among issues to be discussed by city, developers

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What: Steamboat Springs City Council work session

When: 5 p.m. today

Where: Centennial Hall, 124 10th St.

— The proposed Steamboat 700 master-planned community takes center stage during today's Steamboat Springs City Council work session at 5 p.m. in Centennial Hall.

Discussion and consideration of 360 Village's pre-annexation agreement also is on today's meeting agenda, but city staff has requested that it be tabled until next week. Doing so would free up time to discuss issues on which the city and Steamboat 700 developers differ.

At the top of that list is the fiscal impact of Steamboat 700, which would encompass 500 acres and include more than 2,000 residential units in west Steamboat. Today, city staff is asking council members for guidance on the following four fiscal impact and capital facilities-related issues:

- Should all use and excise taxes generated by Steamboat 700 be allocated to items on the capital facilities list?

- Should a new public safety building, a road extension to provide additional capacity and an alternative route for emergency vehicles through the 13th Street bottleneck, and a Routt County Road 42 pedestrian underpass remain on Steamboat 700's required capital facilities list?

- Should the capital facilities financing model assume state and federal funding for a significant portion of required U.S. Highway 40 improvements?

- Can a new public safety building be funded through certificates of participation or other city financing options for which Steamboat would be reimbursed by the developers?

The city's management team and Steamboat 700 developers differ on the answer to each of those questions.

According to documents prepared for the council by city staff, there remains a "significant gap" between the Steamboat 700 proposal and what the city management team wants in terms of capital facilities. That gap has a nearly $26 million price tag - the difference between the cost of required capital facilities in the Steamboat 700 project and estimated project revenues through the year 2050, according to the staff report. The city previously has indicated it has no money to build its share of capital improvements related to the development and that those costs would have to be covered by the developer.

Today's work session is open to the public. Public comments will be taken after today's discussion.

Comments

Kevin Nerney 5 years, 2 months ago

for 26 million dollars 700 should start it's own city, forget annexation and when they run out of money the fed's can step in and bail them out.

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Fred Duckels 5 years, 2 months ago

Growth will come wether we approve this entity or not. By approval we will control more or the expense, compared to haphazard growth that will be very hard to find anyone willing to pony up money.

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