OTHERAPPROVED

Town of Elizabeth Board of Trustees Regular Meeting Agenda February 2026

Town Approves Annexation Agreement with Turn 2 Development LLC

Town of ElizabethTURN 2 DEVELOPMENT LLCFebruary 24, 2026

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Description

The Town of Elizabeth Board of Trustees approved an Annexation Agreement with Turn 2 Development, LLC for 889 S. Elizabeth Street. The agreement requires conveyance of water rights, tap fee locks for five years, water/sewer connection at owner expense, infrastructure dedications, and governs land and utility obligations for future development.

Contract Details

Vendor

TURN 2 DEVELOPMENT LLC

Agency

Town of Elizabeth, CO

Contract Type

OTHER

Document Date

February 24, 2026

Contract Term

Tap fees locked at rates in effect on annexation date for five years; water well leased back at $1/year until well abandonment; rights & obligations run until first building permit or 6 months after final plat approval

Renewal Date

2031-02-24

Renewal Info

Tap fee rates locked for five years from annexation effective date; after five years, applications will pay prevailing rates. Water well leased at $1/year until abandoned on development.