Department of Community Development
Reference: Prairie Center Metropolitan District No. 7 Service Plan Amendment
To: Mayor Gregory Mills and Members of City Council
Through: Michael P. Martinez, City Manager
Prepared By: Stephanie Iiams, AICP, Associate Planner
Date Prepared: June 30, 2026
PURPOSE
The Prairie Center Metropolitan District No. 7 (the "District") is requesting to amend the Service Plan in order to refund existing debt, extend bond maturity limits, adjust restrictions on new debt issuance, and preserve flexibility for future financing. The development in the District is entirely composed of residential property and the board is entirely composed of residents within the District.
PROCESS
In accordance with the approved Service Plan for the District, approved on February 21, 2006, no modifications shall be made to the Service Plan without approval by the City of Brighton City Council. As part of this process, the City Council may consider a resolution consenting to the Service Plan Amendment.
BACKGROUND
The Service Plan for the District was originally approved in February of 2006 with the First Amendment effective in November 2008. The District was formed in conjunction with Prairie Center Metropolitan District Nos. 1-6, and 8-10 (collectively, the "Districts"). The service plans for the Districts allow for combined debt issuance of up to $750,000,000 to fund public improvements and, as reported in the December 31, 2024, audit for the District, there is $173,485,000 of debt capacity remaining.
The District has issued two series of bonds including its Limited Tax General Obligation Bonds, Series 2020, outstanding in the amount of $5,390,000 (the "2020 Bonds") and its Subordinate Limited Tax General Obligation Bonds, Series 2021, outstanding in the amount of $3,990,000 (the "2021 Bonds"). The 2020 Bonds have a final maturity of 2045, and the 2021 Bonds have a final maturity of 2046. The District also has certain outstanding obligations payab...
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