What was the Developer’s purpose in creating the District?
To raise approximately $6M through bond issuance and other debt instruments to supplement and offset the expense of developing the PUD.
What was the date of inception of the District, and what is the duration of the Financing Plan?
- The Original Service Plan ran 2003 through 2037.
- In 2007, a debt consolidation & refinance was negotiated with a new payoff date of 2035.
What expense does the revenue to the District service?
- A General Fund comprises expenses associated with operating expenses (e.g. legal and accounting services), and fees to the County Treasurer for collection of mill levy taxes.
- A Capital Fund comprises service of debt instruments.
What is the tax mill levy associated with the District?
- The mill levy is discussed and set by the Board on a yearly basis. The mill levy is adjusted based upon projected income from house valuations and the amount of debt that needs to be paid each year.
- The actual mill levy for the District can be found each year on the Larimer County Assessor’s website: https://www.larimer.org/assessor
Are District Board members required to be property owners within the District?
Yes. All Board members are property owners.