Uplands Metropolitan District No. 1 Documents
2023 ANNUAL REPORT
UPLANDS METROPOLITAN DISTRICT NOS. 1 AND 2
As required by Section 32-1-207(3)(c), C.R.S., and Section XVII of the Consolidated Service Plan (the “Service Plan”) for the Uplands Metropolitan District Nos. 1 and 2 (respectively, “District No. 1” and “District No. 2” and collectively, the “Districts”), the following report of the Districts’ activities from January 1, 2023, to December 31, 2023, is hereby submitted.
A. Summary of the progress of the Districts in implementing the Service Plan: The Districts were organized December 2, 2022, and held their organizational meetings on December 14, 2022. The progress of the Districts implementing their Service Plan is proceeding as planned.
B. Audited financial statements for the reporting year (or application for exemption from audit):
District No. 2 Audit Exemption Application for 2023
C. Summary of capital expenditures incurred in development of public facilities and any capital improvements or projects proposed to be undertaken in the five (5) years following the Report Year: The Districts incurred capital expenditures in development of public improvements or facilities in 2023. It is anticipated that additional capital expenditures for public improvements identified in plats and development plans approved by the City will continue for years 2024-2029.
D. Summary of financial obligations, including the amount of outstanding debt, the amount and terms of any new debt or long-term obligations issued in the Report Year, the amount of payment or retirement of existing indebtedness in the Report Year, the total assessed valuation of all taxable properties within the Districts as of January 1 of the Report Year, and the current mill levy of the Districts pledged to debt retirement in the Report Year:
District No. 1 issued its Limited Tax General Obligation Bonds, Series 2023A, in the aggregate principal amount of $15,940,000, and its Subordinate Limited Tax General Obligation Bonds, Series 2023B(3), in the aggregate principal amount of up to $28,097,000 on September 1, 2023 (collectively, the “Series 2023 Bonds”). Additional information respecting the terms of the Series 2023 Bonds will be available in the 2023 Audit for District No. 1.
Final assessed valuation of the Districts from Adams County dated December 11, 2023 and Mill Levy Certifications are included in the Districts’ Budgets linked in item E.
E. Current year’s budget (reporting year):
District No. 1 - 2024 BudgetDistrict No. 2 - 2024 Budget
F. Summary of residential and/or commercial development: No residential and/or commercial development commenced during 2023.
G. Summary of all fees imposed by the District: District No. 1 adopted Resolution No. 2023-08-01; Facilities Fee Resolution on August 22, 2023, and recorded in the real property records of Adams County on September 26, 2023, at Reception No. 2023000054701 (the “Facilities Fee Resolution”). In accordance with the Facilities Fee Resolution, District No. 1 imposes a $3,000.00 fee upon Single Family Dwelling Units (as defined in the Facilities Fee Resolution) and a $2,000.00 fee upon Townhome Dwelling Units (as defined in the Facilities Fee Resolution), which are payable to District No. 1 on or before the issuance of a building permit for such dwelling unit. District No. 2 did not impose any fees during 2023.
H. Certification of the Board of Directors of the respective Districts (collectively, the “Board”) that no action, event or condition enumerated in Section 11 of the Policy has occurred in the Report Year: There have been no material modifications to the Service Plan.
I. Name, business address and telephone number of each member of the Board and its chief administrative officer and general counsel, together with the date, place and time of the regular meetings of the Board:
Mark Nickless
450 E. 17th Avenue, Suite 400
Denver, CO 80203
303-592-4380
Jeff Handlin
450 E. 17th Avenue, Suite 400
Denver, CO 80203
303-592-4380
Amber Sands
450 E. 17th Avenue, Suite 400
Denver, CO 80203
303-592-4380
Chad Ellington
450 E. 17th Avenue, Suite 400
Denver, CO 80203
303-592-4380
Matt Childers
450 E. 17th Avenue, Suite 400
Denver, CO 80203
303-592-4380
Chief Administrative Officer and General Counsel:
McGeady Becher P.C.
Paula J. Williams, Esq.
450 E. 17th Avenue, Suite 400
Denver, CO 80203
303-592-4380
2024 Regular Meetings: February 5, 2024, May 6, 2024, August 5, 2024, and November 4, 2024 at 1:00 p.m. to be held via video/teleconference
J. Boundary changes made: District No. 1 excluded approximately 26.121 acres pursuant to that certain Order for Exclusion granted September 18, 2023, by the Adams County District Court, recorded in the real property records of Adams County on September 26, 2023, at Reception No. 2023000054651. District No. 2 made no boundary changes in 2023.
K. Intergovernmental Agreements entered into or terminated:
The Districts entered into an Intergovernmental Agreement with the City of Westminster on March 1, 2023.
The Districts entered into an Inclusion Agreement on September 18, 2023, recorded in the real property records of Adams County at Reception No. 2023000054674.
The Districts entered into a Senior Capital Pledge Agreement with BOKF, N.A., on September 1, 2023.
The Districts entered into a Subordinate Capital Pledge Agreement with BOKF, N.A., on September 1, 2023.
L. Access information to obtain a copy of rules and regulations adopted: The Districts have not adopted any rules and regulations as of December 31, 2023. In the event the Districts adopt such in the future, they may be accessed at the offices of McGeady Becher Cortese Williams P.C., 450 E. 17th Avenue, Suite 400, Denver, Colorado 80203, or on the District’s website: https://uplandsmetropolitandistrict.specialdistrict.net/.
M. Summary of litigation involving the District’s public improvements: To our knowledge, the Districts have not been involved in any litigation.
N. Status of the Districts construction of public improvements: No construction of public improvements commenced during 2023.
O. Conveyances or dedications of facilities or improvements, constructed by the District, to the City: None.
P. Notice of any uncured events of default by the Districts, which continue beyond a ninety (90) day period, under any debt instrument: To our knowledge, there are no uncured events of default by the Districts which continue beyond a ninety (90) day period.
Q. Any inability of the Districts to pay obligations as they come due, in accordance with the terms of such obligations, which continues beyond a ninety (90) day period: To our knowledge, the Districts have been able to pay obligations as they come due.
*For accessibility purposes, references to exhibits have been removed and links to exhibit documents have been added. For a copy of the Annual Report with exhibits as filed with the jurisdiction, please contact info@specialdistrictlaw.com
The Transparency Notices for the Districts can be accessed on the Special District Association website:
https://www.sdaco.org/special-district-transparency-notice/sda-transparency/search/p/U
