District Documents
annual report
For the year ending December 31, 2023
OVERLOOK METROPOLITAN DISTRICT
(the “District”)
Pursuant to Section 32-1-207(3)(c), C.R.S. and Section VII of the District’s Service Plan, approved on September 2, 2014 (as amended April 3, 2017), and Section 10.11.040 of the Town Code, the following report of the activities of the District is hereby submitted:
1. Progress of the District in the Implementation of its Service Plan: During 2016, Richmond American Homes of Colorado, Inc. (“Richmond”) commenced residential construction within the District. As of December 31, 2021, all residential construction in the District has been completed, and all 186 homes constructed are owned by homeowners. On April 3, 2017, the Town approved the First Amendment to the District’s Service Plan to increase the District’s total debt issuance limitation and to update the District’s Capital Plan and Financial Plan. On September 16, 2021, the District issued its General Obligation (Taxable Convertible to Unlimited Tax) Refunding Bonds, Series 2021A, and its Subordinate General Obligation Limited Tax Refunding Bonds, Series 2021B(3) (together, the “Series 2021 Refunding Bonds”). The Series 2021 Refunding Bonds refunded and defeased the District’s previously-issued Series 2016A, Series 2016B, and Series 2017C Bonds. Details about the Series 2021 Refunding Bonds are contained in the District’s 2022 Audit (attached).
2. Audit/Audit Exemption:
2023 Audit3. Summary of Capital Expenditures Incurred by the District in the Report Year, and Public Improvements Proposed to be Undertaken in the Five (5) Years Following the Report Year: All public improvements have been completed, and no additional public improvements are anticipated.
4. Financial Obligations/Outstanding Debt of the District/Final Assessed Valuation: See the District’s 2022 Audit (attached) for information regarding the District’s financial obligations and debt. The 2023 final assessed valuation of all taxable properties within the District was $10,458,760. The District imposed a levy of 54.208 mills in 2023 for collection in 2024 (3.623 mills for general operating expenses and 50.585 mills for debt service).
5. Budget for Calendar Year in which the Annual Report is Submitted:
2024 Budget6. Summary of Residential Development for the Report Year: As of December 31, 2023, all 186 homes constructed in the District are owned by homeowners.
7. Fees, Charges and Assessments in the District: The District did not impose any fees, charges or assessments in 2023.
8. Certification of the Board re: No Material Modification: The undersigned, on behalf of the Board of Directors, hereby certifies that no action, event or condition enumerated in Town Code Section 10.11.060 has occurred in the report year.
9. Contact Information / Regular Meetings:
Board Members:
Jill Gibbens, President
10945 Ledges Rd.
Parker, CO 80134
Phone: 303-995-8991
Stacey Hedrington, Treasurer
10893 Endeavor Dr.
Parker, CO 80134
Phone: 303-981-5678
There are currently three (3) vacancies on the Board of Directors.
Administrative Officer:
Craig Sorensen, District Secretary
McGeady Becher Cortese Williams P.C.
450 E. 17th Ave., Suite 400
Denver, CO 80203
Phone: 303-592-4380
General Counsel:
Paula J. Williams
McGeady Becher Cortese Williams P.C.
450 E. 17th Ave., Suite 400
Denver, CO 80203
Phone: 303-592-4380
2024 Board Meeting Schedule: The Board has scheduled regular meetings for July 17, 2024 (rescheduled to August 8, 2024) and November 20, 2024, at 5:30 p.m., such meetings to be held virtually.
10. Certification of the Board re: Compliance with Service Plan: The undersigned, on behalf of the Board of Directors, hereby certifies that the District is in compliance with all provisions of the Service Plan, as amended.
11. Notice Pursuant to Section 32-1-809:
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/O
12. Boundary Changes Made: There were no changes made to the District’s boundaries in 2023.
13. Intergovernmental Agreements Entered Into or Terminated: There were no Intergovernmental Agreements entered into or terminated by the District during 2023.
14. Access Information to Obtain a Copy of Rules and Regulations Adopted: As of December 31, 2023, the District had not adopted any formal rules and regulations. Should any rules and regulations be adopted, they may be obtained from the office of the General Counsel/Administrative Officer.
15. Summary of Litigation Involving the District’s public improvements: To our knowledge, there was no litigation involving the District’s public improvements during 2023.
16. Status of the District’s Construction of Public Improvements: All public improvements have been completed, and no additional public improvements are anticipated.
17. Conveyances or Dedications of Facilities or Improvements, Constructed by the District, to the Town of Parker: All public improvements/capital assets of the District were conveyed to the Town of Parker or other governmental entities in 2020.
18. Notice of any uncured events of default by the District, which continue beyond a ninety (90) day period, under any Debt instrument: To our knowledge, there are no uncured events of default by the District which continue beyond a ninety (90) day period.
19. Any inability of the District 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 District has been able to pay its obligations as they become due.
/s/ PAULA J. WILLIAMS
Paula J. Williams, Attorney for the District
*For accessibility purposes, this is an alternate conforming version of the 2023 Annual Report
The Transparency Notice for the District can be accessed on the Special District Association website:
https://www.sdaco.org/special-district-transparency-notice/sda-transparency/search/p/O
