The Board of Trustees is considering adopting a policy to act as a guide for the Board’s consideration of Metropolitan (Metro) District Service Plans.
Metro Districts are often proposed by developers as a way to help finance new development. This is a common practice throughout Colorado, not just in Erie. Metro Districts are completely separate entities from, and not controlled by, the Town. This means that Metro Districts can implement their own funding stream (property taxes) that are not in any way distributed outside of the District. The Town’s only authority with regard to Metro Districts is the Board of Trustees’ ability to approve a Metro District Service Plan and monitor the District’s actions to determine if the adopted plan is followed.
Such plans specify, among other things, the district boundaries, the public infrastructure that will be constructed within the district, the maximum property tax rates the Metro District may impose within the district to finance that public infrastructure, and any disclosure requirements to alert those considering purchasing property of the existence of the District.
Metro Districts are an important financing tool that enable a new residential development to “pay its own way” without imposing financial burdens on the existing community. However, the reasonableness of tax levies in Metro Districts has been a subject of concern.
Town leadership appreciates your review and comments on the draft policy by Oct. 25.
To help explain the draft policy in more detail and facilitate your review, on Oct. 14 Town staff will conduct a virtual Listening/Q&A session on this draft policy.
Comments can be made out loud at the Listening Session or they can be submitted by emailing email@example.com (please use the subject line “Draft Metro District Policy”) or can be written and mailed to Town of Erie, P.O. Box 750, Erie CO 80516.
We will summarize all comments submitted by Oct. 25 and share them with the Board of Trustees for review as part of the Board’s formal consideration of this draft policy.
The schedule, the draft policy, link to the listening session, and more are available on EngageErie:
Listening Session Event Details: