General Information About the District
The North Range Village Metropolitan District (District), a quasi-municipal corporation and political subdivision of the State of Colorado, was organized by order and decree of the District Court for Adams County on November 16, 1999, and is governed pursuant to provisions of the Colorado Special District Act (Title 32, Article 1, Colorado Revised Statutes). The District operates under a service plan approved by Commerce City (the City) in October 1999 as amended in April 2000 and in December 2006. The District’s service area boundaries solely encompass the following tracts of land:
- North Range Village neighborhood (257 homes + 15 undeveloped lots);
- Foxton Village neighborhood (228 homes); and
- Two tracts of land totaling approximately 16 acres located between Foxton Village and 104th Avenue
In March 2007, the District issued bonds to finance the construction and development of the neighborhood infrastructure (e.g. streets, curbs, sidewalks, water and electric lines, sewer lines, storm drainage, detention pond, perimeter fencing, park and open space landscaping, etc). With a few exceptions, the completed infrastructure assets were turned over to Commerce City (e.g. streets) and the respective utility companies (e.g. water and sewer lines turned over to South Adams County Water & Sanitation District, street lights and power lines were turned over to United Power, etc).
Beginning January 01, 2016, the District began performing all functions previously provided by the Foxton Village HOA and the North Range Village HOA including (1) maintaining the open spaces and recreational facilities within both neighborhoods, (2) monitoring and enforcing the restrictive covenants and maintenance standards applicable to every
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lot and (3) providing architectural review services in accordance with each neighborhood's restrictive covenants and architectural guidelines.
District Revenue Sources
In order to fund the repayment of its bond debt and to provide neighborhood services to District residents, the District generates revenue from the following sources:
Property Taxes: Each year, the District assesses property taxes on the homeowners living within the District. Property tax assessments is the District's primary source of revenue and currently comprises approximately 93% of the District's total annual revenue. In May 2000, voters authorized the District to change the mill levy rate each year without obtaining further approval from the voters.
To fund the general operations of the District, the District may collect up to $100,000 annually. This limit can be raised if additional voter approval is obtained.
To fund the District's annual debt repayments, the District may adjust the debt portion of the mill levy rate each year to generate an amount sufficient to fund the annual principle and interest payments due on the bonds.
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State Tax Subsidies: Each year, the District receives a "specific ownership tax" subsidy from the State of Colorado. The State funds this subsidy from its collection of annual vehicle registration fee taxes paid by owners of Colorado-registered vehicles. The subsidy is paid out in the form of a matching contribution to the District and is calculated as a percentage of the total property taxes assessed by the District. The State establishes the rate each year for matching contributions. A historic trend of the matching rates set by the State is provided in Exhibit 1.
For the past few years, this subsidy has comprised approximately 6% of the District's total annual revenue. |
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Interest Income: State laws restrict the types of funds in which the District may invest its cash. For the past several years, the District's investment income has been an insignificant source of revenue to the District due to the decline in interest rates paid by banks on savings accounts and certain low-risk money market funds.
District Contractors
Click here to lean more about the District's contractors.
Bond Debt
Click here to learn more about the District's bond debt.