SkyRidge Pegasus Infrastructure Financing District public meetings in 2024
8 substantive meetings from 2024, with official agendas or minutes and plain-English summaries.
SkyRidge Pegasus Infrastructure Financing District
The SkyRidge Pegasus Infrastructure Financing District Board of Trustees will hold a public hearing on December 12, 2024 to review and receive comment on its tentative budget and consider adoption of the final budget for calendar years 2024 and 2025. The meeting will be held in person at Snow Jensen & Reece in St. George, with Zoom access also provided. No other items appear on the agenda.
- Public hearing to review tentative budget and consider adopting final budget for 2024 and 2025
- Meeting location: 912 W 1600 S Suite B-200, St. George, UT
SkyRidge Pegasus Infrastructure Financing District
The SkyRidge Pegasus Infrastructure Financing District Board of Trustees will hold a public hearing regarding the 2024-2025 budget. The board will consider adopting budget resolutions for both 2024 and 2025 and establish the 2025 annual meeting schedule.
- Public hearing for 2024-2025 Budget
- Budget Resolution 2024-07 (2024 Budget)
- Budget Resolution 2024-08 (2025 Budget)
- Adoption of 2025 Annual Meeting Schedule
SkyRidge Pegasus Infrastructure Financing District
This meeting of the SkyRidge Pegasus Infrastructure Financing District Board of Trustees has been cancelled. The agenda had included consideration of the tentative 2025 budget prepared by CLA and approval of prior meeting minutes.
- Meeting cancelled; no action taken
- Consideration of Tentative 2025 Budget prepared by CLA was on the agenda
- Approval of minutes from August 30, 2024 board meeting was on the agenda
SkyRidge Pegasus Infrastructure Financing District
The SkyRidge Pegasus Infrastructure Financing District Board of Trustees will hold a special meeting to consider and potentially approve the Tentative 2025 Budget prepared by CLA. The board will also approve minutes from the August 8, 2024 meeting. Public comment will be heard. No other action or discussion items are listed.
- Consider approval of Tentative 2025 Budget prepared by CLA
- Approve minutes of August 8, 2024 board meeting
- Public comment period
- Meeting will be simulcast via Zoom
SkyRidge Pegasus Infrastructure Financing District
The SkyRidge Pegasus Infrastructure Financing District Board of Trustees is considering adoption of an Assessment Ordinance that would levy $37,505,000 in assessments on properties within the SkyRidge Pegasus Assessment Area. The funds would finance sewer, water, road, storm drain, and public amenity improvements for a planned 93-acre residential development. Property owners have consented to the assessments, and the ordinance sets an ERU-based method at $468,812.50 per equivalent residential unit.
- Total estimated improvement cost is $39,500,000, with $37,505,000 to be assessed on properties
- Improvements include sewer mains, water lines, roads, sidewalks, storm drains, trails, and parking
- Assessment method uses Equivalent Residential Units (ERUs) at $468,812.50 per ERU
- Assessments must be prepaid by the earlier of final inspection for a certificate of occupancy or conveyance to a non-affiliate
- Board received an appraisal confirming property value after improvements is at least three times the assessment amount
SkyRidge Pegasus Infrastructure Financing District
The SkyRidge Pegasus Infrastructure Financing District Board of Trustees is meeting to establish administrative rules and consider the issuance of special assessment bonds. The board will also discuss assessment ordinances and agreements with a developer for infrastructure acquisition and reimbursement.
- Proposed issuance of Series 2024 Special Assessment Bonds not to exceed $49,233,000
- Proposed assessment ordinance for the SkyRidge Pegasus Assessment Area
- Authorization for a General Liability policy with minimum $5 million aggregate coverage
- Public officials' bonds for the district Treasurer in the amount of $250,000
- Engagement agreements for bond underwriting with Piper Sandler and legal services with Snow Jensen & Reece, PC
SkyRidge Pegasus Infrastructure Financing District
The SkyRidge Pegasus Infrastructure Financing District Board will hold a special meeting to elect officers, adopt governing rules, and consider several resolutions. Key actions include authorizing the issuance of up to $49,233,000 in special assessment bonds, establishing an assessment ordinance, and approving agreements with a developer for infrastructure financing. The board will also select an underwriter (Piper Sandler) and legal counsel (Snow Jensen & Reece).
- Consider approval of Resolution 2024-05 establishing an assessment ordinance for the SkyRidge Pegasus Assessment Area
- Consider approval of Resolution 2024-06 authorizing issuance of up to $49,233,000 in Series 2024 special assessment bonds
- Consider authorizing the District Chair to obtain general liability insurance with at least $5 million coverage
- Consider approval of engagement agreements for bond underwriting (Piper Sandler) and legal services (Snow Jensen & Reece)
- Consider approval of Infrastructure Acquisition and Reimbursement Agreement and Funding and Reimbursement Agreement with the developer
SkyRidge Pegasus Infrastructure Financing District
The SkyRidge Pegasus Infrastructure Financing District is designating the SkyRidge Pegasus Assessment Area to finance publicly owned infrastructure for a 93-acre residential development. The District will levy assessments against benefited properties to fund these improvements, which will be financed through assessment bonds.
- Estimated total construction and acquisition cost of $39,500,000
- Estimated $37,505,000 to be paid via assessments at $468,812.50 per equivalent residential unit (ERU)
- Infrastructure includes sewer, water, roads, storm drains, trails, and parking
- Proposed assessment bonds with an estimated interest rate of 5.4744% maturing within 30 years
- Property owners have voluntarily waived notice and hearing requirements via a Consent Agreement