PALMER LAKE, Colo. (KKTV) – On Friday evening, the town of Palmer Lake released a write-up of the negotiated terms of the proposed annexation agreement with Buc-ee’s.
In that write-up, town officials clarified terms such as water needs, planned roadway improvements, and financials for the proposed 74,000 square foot store.
Town officials said Buc-ee’s has agreed to pay call costs to build two wells and a water treatment plant, a listed cost of $14,016,552. The town said the usual car wash provided at many Buc-ee’s locations will not be included in the proposed Palmer Lake Buc-ee’s to limit excessive water use.
Buc-ee’s has agreed to pay for all roadway improvements in the area as required by the Town of Palmer Lake and the Colorado Department of Transportation. They said this could include improvements to County Line Road, Beacon Lite and I-25/County Line Road interchange.
The town said a discussion would be planned with El Paso County and Douglas County regarding County Line Road maintenance.
In accordance with financials, the town said annual sales tax would be 3 percent total and 1 percent as an incentive to Buc-ee’s, with the remainder going to the town after the 20-year term. They expect to generate $1,000,000 annually.
Monument Fire District and Palmer Lake would provide dual coverage in fire resources, and town officials say Buc-ee’s is expected to pay taxes on both through a mutual aid agreement.
Impacts to the police force are not expected to be high, with the town saying most towns with Buc-ee’s have fewer calls than expected.
Town officials said Palmer Lake is expected to be reimbursed by Buc-ee’s for all costs and expenses related to the annexation and development of the project.
The Palmer Lake Board of Trustees plans to consider and may vote on the agreement on August 28.
The Buc-ee’s final paper and summary are attached below:
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