About
In accordance with Section 32-104.5(3)(X), C.R.S., the following general explanation in plain, nontechnical language, is provided. This information is intended to be read in conjunction with all applicable legal requirements, governing documents, agreements, resolutions, and determinations of the Board of Directors of the District.
1. A metropolitan district is a special district that provides any two or more of the following services:
(a) Fire protection;
(b) Mosquito control;
(c) Parks and recreation;
(d) Safety protection;
(e) Sanitation;
(f) Solid waste disposal facilities or collection and transportation of solid waste;
(g) Street improvement;
(h) Television relay and translation;
(i) Transportation; and
(j) Water.
2. In accordance with the District’s Service Plan, the District may provide the following public improvements and services:
(a) Street improvements & road maintenance;
(b) Traffic and Safety Controls;
(c) Drainage;
(d) Sanitation;
(e) Water;
(f) Irrigation;
The District has undertaken or anticipates undertaking construction of the public improvements listed above.
The District provides or will provide the following ongoing services: operation and maintenance services for the above listed public improvements that are not dedicated to Eagle County, Town of Gypsum, or other governmental entity.
3. In accordance with the District’s Service Plan, the total amount of debt the District can incur to provide and pay for public infrastructure is as follows:
The Service Plan caps the amount of debt that may be issued by the District to $6,572,763.
4. In accordance with the District’s Service Plan, the following revenue may be used to pay for the District’s debt:
Property taxes generated from a debt mill levy will support debt retirement throughout the bond repayment period. In addition to property taxes, which may be increased to fund the costs of the public improvements, the District may also rely upon various other revenue sources authorized by law to fund its financial obligations. These include the power to establish fees, rates, tolls, penalties, or charges as provided in the Act. The Financing Plan has been developed without reliance upon all possible sources of revenue available to the District, but this will not preclude the District from implementing any revenue source legally available to the District, if needed to fund debt service, operations or other expenses.
5. In accordance with the District’s Service Plan, the maximum mill levy that the District may assess to pay for its debt is as follows:
The District may issue unlimited general obligation bonds only if the mill levy pledged for the repayment of the bonds (together with the mill levy pledge on any general obligations of the District) will not exceed 50 mills (“Mill Levy Cap”); provided, however, provided, however, in the event that the method of calculating assessed valuation is changed after the approval of the Service Plan by any change in law or method of calculation or by any change in the percentage of actual value used to determine assessed valuation pursuant to Section 39-1-104, C.R.S., and Article X, Section 3 of the State Constitution, the mill levy limitation shall be increased or decreased to reflect such change, as reasonably determined by the Board of the District so that, to the greatest extent possible, the actual property tax revenues generated by the mill levy as adjusted are neither enhanced nor diminished as a consequence of such adjustment.
6. The District allows for commercial parcels only and no residents population. Natural persons that own taxable property within the District may serve on the Board of Directors of the District if they are eligible electors of the District. A natural person is an eligible elector of the District if the person or the person’s spouse is obligated to pay taxes on property within the boundaries of the District and is registered to vote in Colorado.
Overview
The Airport Commerce Center Metropolitan District (“District”) was formed pursuant to an order of the District Court of Eagle County recorded in the records of the Eagle County Clerk and Recorder on September 22, 2009. The District is a quasi-municipal corporation and political subdivisions of the State. The District operates pursuant to a Service Plan dated September 2008 (the “Service Plan”) approved by the Town Council of the Town of Gypsum, Colorado.
The District encompasses approximately 49 acres generally located on the south side of Cooley Mesa Road across from the Eagle County Regional Airport, approximately 1,400 feet west of Spring Creek Road developed for light industrial use. The District has no resident population.
Overlapping Mill Levies Affecting Owners Within the Development. In addition to the Districts’ ad valorem property tax levies, owners of property within the Districts are obligated to pay property taxes to other taxing entities in which their property is located, which include:
- Eagle County
- Town of Gypsum
- Eagle County School District RE50J
- Colorado Mountain College
- Gypsum Fire Protection District
- Eagle County Health Services District
- Mountain Recreation Metropolitan District
- Eagle Valley Library District
- Eagle County Conservation District
- Colorado River Water Conservation District
- Cedar Hill Cemetery District
For the Service Plan or other District documents that are not on the website, please contact the District or complete and return a public records request form.