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WELD APPROVES TAX DISTRICTS FOR WATERFRONT INFRASTRUCTURE
On August 29 Weld County Commissioners approved three new taxing districts to finance infrastructure supporting Waterfront at Fosters Lake, a 587 acre, 1780 home residential and commercial development. The property is located south of Colo. 66 running along the west side of I-25 south to WCR 26 in Weld County. The property abuts the Town of Mead’s boundary. The taxing districts, if approved by a district judge, could levy up to 65 mills on property in the development, raising an expected $58 million to finance roads and utility infrastructure. Mead officials want to see the project annex into the town rather than develop in unincorporated Weld County, but the land owner and developer is reluctant due to high town fees associated with development there. Town officials and the developer plan to meet and discuss possible annexation. Even if Waterfront annexes into Mead the taxing districts could still be used to support the development.
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