Months of discussion between Granby and Granby Ranch developers resulted in a written agreement from the developers to repair roads in exchange for the town releasing restrictions on the sale of certain lots.

Granby Town Board approved changes to the existing Granby Ranch omnibus agreement, which is an overarching contract covering a number of issues between the developer and the town, at the Feb. 22 meeting.

Under the approved agreement, Granby Ranch developers are responsible for improving a number of roads including Lone Eagle and Kiowa, as well as completing $300,000 in supplemental road improvements before Nov. 1, 2023.

The roads will be subject to town inspection and approval upon completion. If roads are not completed to standard and on time, the town is able to withhold approval for any future development’s Subdivision Improvement Agreements, effectively barring construction.

With the new agreement, the town was willing to release restrictions on several lots in Granby Ranch Filings 6, 8 and 10, as well as pay $190,000 in bond money to cover certain road repairs. The town will also assist Granby Ranch in recovering outstanding bond monies at no cost to the town, if the developers choose to do so.

Homeowners, however, were concerned that the agreement doesn’t include surety or a warranty bond for the road improvements, which would ensure there’s money to complete construction. Surety is a common requirement that protects governments from financial losses if construction isn’t completed or done to standard.

“I think it’s a very reasonable ask of this town board to protect the residents with a letter of credit or surety bond,” said Matt Girard, president of the Granby Ranch Metropolitan District, a homeowner-controlled metro district.

Town board members, the developer and other homeowners felt that the town’s ability to deny future development was enough protection to ensure the road repairs.

“Time is of the essence because if we want to get contractors in there this year, then those contracts have to be entered soon,” said Micah Hildebrand, a homeowner who supported the omnibus agreement. “I think that (the future SIAs) is sufficient… I think that also (the developer) is trying to sell lots on these roads and people aren’t going to buy if the roads aren’t fixed.”

Another major change in the agreement would adjust the income restrictions on Granby Ranch’s attainable housing parcel from 80-120% Area Median Income to 60-180% AMI, per the request of the town. This means the units built on that land would only be able for sale or rent to people within the income restrictions.

A proposed change discussed earlier to allow hunting on the property did not make the final cut.

Granby’s board voted 5-1, with Trustee Kristie DeLay dissenting.

In conjunction with the omnibus agreement amendment, the board approved Subdivision Improvement Agreements for 26 lots on Night Hawk Court, Eagles Nest Court, Black Feather Court and Talon Way.

Those properties are restricted from being sold until the town engineer signs off on road and utility infrastructure. The town also required a performance guarantee of 115% of the cost of the infrastructure, which will cover costs if the construction isn’t completed or up to standard.

Granby’s board is expected to discuss Granby Ranch’s proposed amendment to the Planned Development Overlay District (PDOD) this month. The PDOD is another agreement between the town and Granby Ranch that outlines density allowed in the area, approved land uses, infrastructure requirements and more.

The proposed amendment seeks to increase density in Granby Ranch by more than 1,000 units, add concrete operations to the development’s sand and gravel plant, as well as adjust water and sewer requirements.