About
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.
Public Improvements and Services. Pursuant to the Service Plan, the District is authorized to finance, acquire, construct, complete, operate and maintain Public Improvements to provide water facilities, street and roadway improvements, traffic and safety protection facilities, television relay and translator facilities, park and recreation improvements, mosquito control and storm and sanitary sewage facilities needed to serve the District. The District has the power, subject to constitutional and statutory guidelines, to certify a mill levy for collection of ad valorem taxes against all taxable property within the District.
Amount of Debt the Districts can Incur to Provide and Pay for Public Infrastructure. On November 3, 2009, the electors of the District authorized debt up to $7,000,000 to pay for designing, acquiring, constructing, relocating, installing, completing, and otherwise providing public infrastructure; up to $19,000,000 for related debt repayment; and up to $1,000,000 annually for administration, operation and maintenance expenses, and debt service.
Revenue Used to Repay Debt and Maximum Mill Levy to Repay Such Debt. The District received approval from its electorate at the Election held November 3, 2009 to be exempt from Property Tax Revenue Limitations imposed with TABOR, Title 29, Article 1, Part 3, C.R.S which states a governmental entity may not impose a property tax levy or levies that will generate revenue that exceeds the amount received in the preceding year plus 5.5% plus the amount of revenue abated or refunded by such governmental entity by August 1 of the current year less the amount of revenue received by such governmental entity by August 1 of the current year as taxes paid on any taxable property that had previously been omitted from the assessment roll of any year.
The maximum tax levy of the District for all purposes is limited under the Service Plan to 50 mills or less. Any general obligation bonds or other multiple-fiscal year financial obligations made or issued by the District will limit the tax levy for repayment of such debt to no more than 50 mills against all property within the District.
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.