SLC Metropolitan Districts No. 1-4

SLC METROPOLITAN DISTRICT NOs. 1-4

2024 ANNUAL REPORT

As required by Section 32-1-207(3)(c), C.R.S. and pursuant to Section VIII of the Service Plans for SLC Metropolitan District Nos. 1, 2, 3 and 4 (hereinafter referred to as “District No. 1”, “District No. 2”, “District No. 3”, “District No. 4”, and collectively as the “Districts”) approved by the City of Aurora, Colorado, on August 5, 2019, we present the following report of the Districts’ activities from January 1, 2024 to December 31, 2024.

1.                  Boundary changes made or proposed to the Districts’ boundaries as of December 31, 2024. 

·               District No. 1 – No boundary changes were made or proposed;

·               District No. 2 – inclusion of approximately 24.061 acres (Recorded Order for Inclusion, see Reception No. E4023237 of the Arapahoe County Clerk and Recorder Real Property Record);

·               District No. 2 – exclusion of approximately 101.67 acres (Recorded Amended Order for Exclusion Nunc Pro Tunc to October 26, 2023, see Reception No. E4017649 of the Arapahoe County Clerk and Recorder Real Property Record);

·               District No. 3 – inclusion of approximately 13.2 acres (Recorded Order for Inclusion, see Reception No. E4023238 of the Arapahoe County Clerk and Recorder Real Property Record);

·               District No. 3 – inclusion of approximately 171.988 acres (Recorded Amended Order for Inclusion Nunc Pro Tunc to October 26, 2023, see Reception No. E4017652 of the Arapahoe County Clerk and Recorder Real Property Record); and

·               District No. 4 – No boundary changes were made or proposed.

2.                  Intergovernmental Agreements with other governmental entities, either entered into, proposed, or terminated as of December 31 of the prior year. No Intergovernmental Agreements were entered into, proposed, or terminated by any of the Districts during the report year.

3.                  Copies of the Districts’ rules and regulations, if any, as of December 31, of the prior year. The Districts have not adopted any rules and regulations. In the event the Districts adopt rules and 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 80202, 303-592-4380, or on the Districts’ website at: https://slcmetropolitan.specialdistrict.org/.

4.                  A summary of any litigation which involves the Districts’ Public Improvements as of December 31 of the prior year.  To our knowledge, there is no litigation involving the Districts’ public improvements.

5.                  Status of the Districts’ construction of the Public Improvements as of December 31 for the prior year (2024).

·                        Construction of 13th Avenue from New Picadilly to Old Picadilly Rd;

·                        Improvements to regional detention pond and sitewide detention facilities;

·                        Improvements to the Picadilly / Colfax Avenue intersection;

·                        Tract B Drainage Channel;

·                        New Picadilly Road Improvements from Colfax to Old Picadilly; and

6.                  A list of all facilities and improvements constructed by the Districts that have been dedicated to and accepted by the City as of December 31 of the prior year (2024).

·                        Lisbon Street between Colfax Avenue and 13th Avenue;

·                        13th Avenue from Lisbon to Old Picadilly;

·                        Picadilly from Colfax to old Picadilly;

·                        The below utilities:

1.      Filing 1 (219254)

§  Sanitary Line (20-032S) final acceptance

§  Storm Sewer (20-050SS and P20-033SS) final acceptance

2.      Filing 2 (221258)

§  Storm Sewer (22-012SS and P22-016SS) final acceptance; and

§  Detention Channel (22-012SS, has reached final acceptance).

3.         Filing 3 (222049)

§   Water main (22-107W & 22-048W, both have reached final acceptance);

§   Private water (P22-024W & P22-023W, both have reached final acceptance);

§   Sewer (22-040S, has reached final acceptance); and

§   Storm Sewer (22-031SS, has been initially accepted)

7.                  The assessed valuation of the Districts for the current year.  The Districts’ final assessed valuations for 2024 are as follows:

·         District No. 1: $123;

·         District No. 2: $877,704;

·         District No. 3: $90,174,672; and

·         District No. 4: $123

8.                  Current year budgets including a description of the Public Improvements to be constructed in such year.  Copies of the 2025 budgets for the District are linked below.  Public improvements anticipated to be constructed in 2025 include the following:

·         Traffic Signal at Lisbon and Colfax;

·         Single Leg of Traffic Signal at Picadilly and Colfax;

·         Picadilly widening from Colfax to 13th Ave; and

·         Picadilly widening with taper South of 13th Ave

9.                  Audit for the Districts’ financial statements, for the year ending December 31 of the previous year, prepared in accordance with generally accepted accounting principles or audit exemption, if applicable. A copy of District No. 1’s 2023 Audit (not available at the time of filing the 2023 Annual Report) is attached hereto as Exhibit B.  Requests for Extension of Time to File Audits for Year End December 31, 2024 have been filed with the State Auditor for District Nos. 1 and 3.  Copies of the District No. 1 and District No. 3 2024 Audits will be provided upon availability.  District Nos. 2 and 4 are currently exempt from Audit, pursuant to Section 29-1-604, C.R.S. Copies of the 2024 Applications for Exemption from Audit for District Nos. 2 and 4 are linked below. 

10.              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. The Districts have not issued Debt as of December 31, 2024.

11.              Any inability of the Districts to pay its obligations as they come due, in accordance with the terms of such obligations, which continue beyond a ninety (90) day period.  To our knowledge, the Districts have been able to pay their obligations as they come due.

*For accessibility purposes, this is an alternate conforming version of the 2024 Annual Report

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/S