- Finance Department
- Metro Districts
Definition of a Metro District
Special Districts are quasi-governmental entities with taxing authority that are used to finance necessary public infrastructure and services the Town cannot otherwise provide. A Metro District is a type of special district organized under Colorado's Special District Act (Title 32, Article 1, Colorado Revised Statutes). (View FAQs on Metro Districts) These are separate governmental entities not controlled by the Town, except to the extent the Board of Trustees has authority to approve the Service Plan under which a Special District operates.
Metro Districts are different from an HOA in that the Metro District has taxing authority and provides infrastructure while an HOA is typically funded through fees which are used for maintenance of shared spaces within the neighborhood.
Review Policy for New Metro Districts
On Tuesday, July 26, 2022 the Board of Trustees approved a new policy for how they review and approve new Metro Districts. View the approved policy. The new policy improves transparency for new homebuyers and the ability for homebuyers to more easily join metro district governing boards. The policy does not impact already existing Metro Districts (see list below or click to view PDF) but will be used for future applications for Metro Districts.
Metro Districts in Erie - June 2022
|Metro District Name||Date Formed||Outstanding Bond/Loan||Mills||DOLA Link to More Info|
|Colliers Hill/Daybreak/Bridgewater No. 1||2007||$38,881,651||57.220||CH1 DOLA|
|Colliers Hill/Daybreak/Bridgewater No. 2||2007||$24,126,000||57.107||CH2 DOLA|
|Colliers Hill/Daybreak/Bridgewater No. 3||2007||$28,763,000||55.664||CH3 DOLA|
|Erie Commons Metro District 1||2004||4,470,536||55.663||EC1 DOLA|
|Erie Commons Metro District 2||2004||$33,453,958||55.220||EC2 DOLA|
|Erie Commons Metro District 3||2019||-||37.000||EC3 DOLA|
|Erie Corporate Center 1||2012||-||57.220||ECC1 DOLA|
|Erie Corporate Center 2||2012||$3,000,000||57.220||ECC2 DOLA|
|Erie Corporate Center 3||2019||-||37.000||ECC3 DOLA|
|Erie Farm||2012||$15,503,128||55.866||Erie Farm DOLA|
|Erie Highlands Metro District No. 1||2015||$8,682,571||52.827||EH1 DOLA|
|Erie Highlands Metro District No. 2||2015||$17,144,000||78.328||EH2 DOLA|
|Erie Highlands Metro District No. 3||2015||-||20.000||EH3 DOLA|
|Erie Highlands Metro District No. 4||2015||-||70.000||EH4 DOLA|
|Erie Highlands Metro District No. 5||2015||-||20.000||EH5 DOLA|
|Flatiron Meadows||2012||$22,878,000||56.995||FM DOLA|
|Four Corners||2017||-||54.531||FC DOLA|
|Jay Grove||2018||$8,470,000||57.027||Jay Grove DOLA|
|Lost Creek Farm||2016||$1,809.000||44.000||LCF DOLA|
|Morgan Hill Metro District 1||2008||-||57.220||MH1 DOLA|
|Morgan Hill Metro District 2||2008||-||57.220||MH2 DOLA|
|Morgan Hill Metro District 3||2008||$25,880,000||57.220||MH3 DOLA|
|Nine Mile||2019||$17,775,000||0.000||Nine Mile DOLA|
|Parkdale Metro District 1||2017||-||65.032||PM1 DOLA|
|Parkdale Metro District 2||2017||-||16,253||PM2 DOLA|
|Parkdale Metro District 3||2017||-||15.000||PM3 DOLA|
|Parkdale Community Authority||2017||$25,558,000||0.000||PC DOLA|
|Redtail Ranch||2020||-||15.000||Redtail DOLA|
|Rex Ranch||2010||$3,745,000||56.138||Rex Ranch DOLA|
|Shores on Plum Creek||2021||-||50.000||SPC DOLA|
|Summerfield Metro District 1||2013||-||57.220||SM1 DOLA|
|Summerfield Metro District 2||2013||-||57.220||SM2 DOLA|
|Summerfield Metro District 3||2013||-||57.220||SM3 DOLA|
|Sunset Parks||2012||-||50.000||SP DOLA|
|Vista Ridge||2000||$36,025,590||47.000||Vista Ridge DOLA|
|Westerly Metro District 1||2020||-||65.000||Westerly1 DOLA|
|Westerly Metro District 2||2020||-||65.165||Westerly2 DOLA|
|Westerly Metro District 3||2020||-||67.309||Westerly3 DOLA|
|Westerly Metro District 4||2020||-||65.000||Westerly4 DOLA|
- What is a Metro District?
A Metro District (short for Metropolitan District) is a financing tool used by developers to fund new development and the necessary infrastructure to support that new development. In this system of financing, developers use bonds (an issuance of debt) to build new development and then impose a mill levy (property tax) on residents of the district to pay off those bonds. In this system of financing, only the residents of a Metro District pay an additional property tax for the development of the district, as opposed to all residents of the Town paying for new infrastructure.
- What should I consider before buying a home in a Metro District?
Residents of a Metro District pay an additional property tax. For a newly constructed home, this tax activates two years after purchase. Before purchasing a home in a Metro District, buyers should review the impact of an additional property tax on their annual budget and factor that into the overall cost of the home.
- How does a Metro District differ from an HOA?
A Homeowners’ Association (HOA) is not a type of Metro District or governmental entity and does not, therefore, have any taxing powers. An HOA is a private entity created to enforce restrictive covenants and/or maintenance of HOA-owned common areas. A neighborhood can have both an HOA and a Metro District. The Metro District, however, is responsible for the creation and maintenance of infrastructure specifically. Each neighborhood is different so residents should research who is responsible for maintenance of shared community spaces (such as parks) for their respective neighborhood.
- How is a Metro District governed and can I be a part of governance in my Metro District?
A Metro District is governed by a Board of Directors, who are elected by the registered electors within the District. Eligible electors who reside within the District or who own taxable property within the District are eligible to serve on the Board of Directors and they become eligible to join as soon as they move into or purchase property within the District.
- Who approves a Metro District?
The approval of a District Service Plan is at the sole discretion of the Town of Erie’s Board of Trustees. The Board of Trustees may reject, approve, or conditionally approve Service Plans on a case-by-case basis. The Board of Trustees retains full authority regarding the approval, terms, conditions, and limitations of all Service Plans. To read more about what the Board of Trustees evaluates when reviewing a District Service Plan, read Town of Erie Metro District Review Policy.
- Who ensures transparency of a Metro District after it’s formed?
Metro Districts follow the same “sunshine” laws as any other governmental entity in Colorado, as well as additional requirements in the Metro District statutes and in the Town of Erie’s Metro District Policy. Specifically, a Metro District must notice all meetings by posting the time and place of the meeting at three locations within the district and publish notices in a widely distributed publication. In addition, all State-required annual financial reports are published on the Department of Local Affairs website and viewable by the public.
In addition to these steps required by the State, the Town has included requirements in the Town of Erie’s Metro District Review Policy. It is important to note that the requirements in the Review Policy do not apply to Metro Districts that were approved prior to July 26, 2022, when the Board of Trustees approved the Review Policy. Also, once a Metro District is formed, the Town of Erie is not responsible for the day to day management of the district. Like any other governmental entity, the members of the Metro District Board of Directors are responsible and residents of the district should reach out to them with questions or concerns. The role of the Town occurs only at approval.