RiverView stakeholders expect to start building public infrastructure in downtown Steamboat this spring
September 23, 2017
STEAMBOAT SPRINGS — One of the largest potential mixed-use developments in downtown Steamboat Springs is a significant step closer to becoming a reality.
The Steamboat Springs City Council on Tuesday night endorsed the formation of a metro district that will oversee the funding and construction of public infrastructure improvements in the 4.7-acre RiverView development.
Those improvements include such things as a public riverside plaza at Fifth and Yampa streets, a riverside path, a loop road connecting Third and Fourth streets and new public river access.
What is a metro district and what impact will it have on city taxpayers?
City officials described the district as "a method of financing that allows new subdivisions the ability to finance infrastructure up front and pay for it through long-term assessments on the property owners."
It will have no direct fiscal impact to the city, although the city could take over the maintenance of some of the public infrastructure in the future.
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Mark Scully, of Green Courte Partners, told the council Tuesday night the RiverView stakeholders expect to start construction on the public improvements in the spring and complete them next year.
The council has not approved any specific building plans for the development yet.
But the council has rezoned the 4.7 acres the development will encompass between Lincoln Avenue and the Yampa River from Third to Fifth streets.
The council's zoning approval will allow buildings to be taller and more dense in the RiverView development than the previous zoning allowed.
Owners of the parcel will also be able to pitch different sites within the boundaries for development.
Council will have to give one more nod to the financing mechanism for the public improvements before it becomes a reality.
A public hearing will precede that vote sometime next month.