District Documents

Annual Reports

2024 ANNUAL REPORT
CASTLEVIEW METROPOLITAN DISTRICT NO. 1

https://castleviewmetropolitandistrict1.specialdistrict.org/

As required by Section 32-1-207(3)(c), C.R.S. and Section IX of the Consolidated Amended and Restated Service Plan for Castleview Metropolitan District No. 1 and Service Plan for Castleview Metropolitan District No. 2 (individually, “District No. 1” and “District No. 2,” collectively the “Districts”), approved by the Town of Castle Rock on August 21, 2018, the following report of the activities of District No. 1 from January 1, 2024 to December 31, 2024 (the “Report Year”) is hereby submitted.

A. Intergovernmental Agreements entered into or terminated:

Intergovernmental Agreement by and between the Town of Castle Rock, Colorado and Castleview Metropolitan District No. 1, dated August 21, 2018.

B. Access information to obtain a copy of rules and regulations adopted:

District No. 1 did not adopt any rules or regulations as of December 31, 2024. In the event District No. 1 adopts rules of regulations in the future, such documents may be accessed at the offices of McGeady Becher Cortese Williams P.C., 450 E. 17th Avenue, Suite 400, Denver, CO 80203, (303) 592-4380.

C. Status of District No. 1’s construction of public improvements:

To the best of our knowledge, District No. 1 did not construct any public improvements during the report year.

D. Notice of any uncured events of default by District No. 1, which continues beyond a ninety (90) day period, under any debt instrument:

To our knowledge, there are no uncured events of default by District No. 1 which continue beyond a ninety (90) day period.

E. Any inability of District No. 1 to pay its obligations as they come due, in accordance with the terms of such obligations, which continues beyond a ninety (90) day period:

To our knowledge, District No. 1 has been able to pay obligations as they come due.

F. A narrative summary of the progress of District No. 1 in implementing its service plan for the Report Year:

District No. 1 continues to implement the development schedule as contemplated in the Consolidated Service Plan approved August 21, 2018.

G. Boundary changes made or proposed:

District No. 1 did not make or propose any boundary changes during the Report Year.

H. Except when an exemption from audit has been granted for the Report Year under the Local Government Audit Law, the audited financial statements of District No. 1 for the Report Year including a statement of financial condition (i.e. balance sheet) as of December 31 of the Report Year and a statement of operations (i.e. revenues and expenditures) for the Report Year:

District No. 1’s 2024 Audit is still in progress. A copy of the 2024 Audit will be provided upon completion.

I. Unless disclosed within a separate schedule to the financial statements, a summary of the capital expenditures incurred by District No. 1 in development of public facilities in the Report Year, as well as any capital improvements or projects proposed to be undertaken in the five (5) years following the Report Year:

Expenditures are noted on District No. 1’s 2024 Budget, which is attached here.

2024 Budget - CVMD 1.pdf

J. Unless disclosed within a separate schedule to the financial statements, a summary of the financial obligations of District No. 1 at the end of the Report Year, including the amount of outstanding indebtedness, the amount and terms of any new District No. 1 indebtedness or long-term obligations issued in the Report Year, the amount of payment or retirement of existing indebtedness of District No. 1 in the Report Year, the total assessed valuation of all taxable properties within District No. 1 as of January 1 of the Report Year, and the current mill levy of District No. 1 pledged to debt retirement in the Report Year:

District No. 1 did not issue any new debt in the Report Year, but has issued $18,887,000 Limited Tax General Obligation Bonds, Series 2021A(3). In 2024, District No. 1 paid $0.00 towards interest on the issued $18,887,000 Limited Tax General Obligation Bonds, Series 2021A(3).

As of December 31, 2024, District No. 1 and District No. 2, collectively, have $21,778,000 in authorized but unissued debt.

2024

District No. 1

Assessed Valuation

$22,170

Mill Levy

General: 11.789 mills

Debt Service: 68.172 mills

Total: 79.961 mills

K. District No. 1’s budget for the calendar year in which the annual report is submitted:

A copy of District No. 1’s 2024 Budget, which is attached here.

2024 Budget - CVMD 1.pdf

L. A list of all facilities and improvements constructed by District No. 1 that have been dedicated to and accepted by the Town as of December 31 of the prior year:

There were no facilities or improvements constructed by District No. 1 that were dedicated to or accepted by the Town during the Report Year.

M. A summary of residential and commercial development which has occurred with District No. 1 for the Report Year:

To the best of our knowledge, there was no residential or commercial development within the boundaries of District No. 1 during the Report Year.

N. A summary of all fees, charges and assessments imposed by District No. 1 as of January 1 of the Report Year:

No fees, charges or assessments were imposed by District No. 1 during the Report Year.

O. Certification of the Boards that no action, event or condition enumerated in Section 11.02.060 of the Castle Rock Municipal Code has occurred in the Report Year:

The Board of Directors of District No. 1 hereby certify that no action, event or condition enumerated in Section 11.02.030 of the Castle Rock Municipal Code occurred in the Report Year

P. Summary of litigation involving District No. 1’s public improvements:

To the best of our knowledge, there has been no litigation involving any of the Public Improvements of the District.

Q. The name, business address and telephone number of each member of the Boards and its chief administrative officer and general counsel, together with the date, place and time of the regular meetings of the Boards:

Brian Alpert, President

c/o