Developer Purchases Water and Sewer Tap Fee Credits from the Sterling Ranch Community Authority Board
October 2, 2018
DOUGLAS COUNTY, Colo.–(BUSINESS WIRE)–Sterling Ranch Development Company, the developer of an approximately
3,400-acre master-planned community known as “Sterling Ranch,” located
in the “Chatfield Basin” in the northwest portion of Douglas County and
the southwest portion of the Denver metropolitan area, has purchased
water and sewer tap fee credits (the “Tap Fee Credits”) from the
Sterling Ranch Community Authority Board (the “CAB”). The Tap Fee
Credits are associated with certain properties currently being entitled
by the Developer with Douglas County. The proceeds of the purchase are
approximately $7,500,000, of which approximately $7,000,000 will be paid
by the CAB to Dominion Water & Sanitation District (“Dominion”), the
wholesale water and wastewater provider for Sterling Ranch. Dominion and
the CAB will use the proceeds to, among other things, fund the continued
development of the wholesale and retail water and wastewater systems
that serve Sterling Ranch.
ABOUT THE STERLING RANCH COMMUNITY AUTHORITY BOARD: Sterling
Ranch is a master-planned community located in Colorado’s Chatfield
Basin in northwest Douglas County and is bordered to the north by
Chatfield State Park, to the east by Santa Fe Drive, to the west by the
Hogback Ridge and to the south by Roxborough Village. The Community
Authority Board Establishment Agreement (CABEA) formed the Sterling
Ranch Community Authority Board (CAB) in 2016. The CAB performs all
functions for the Districts and communities, including, but not limited
to, retail water and sewer services. The CAB is controlled by an eleven
(11) member board of directors.
Contacts
Sterling Ranch Community Authority Board
Denise Denslow, District
Manager
303-265-7910