District Documents
NINE MILE METROPOLITAN DISTRICT
2025 ANNUAL INFORMATION REPORT
As required by Section 32-1-207(3)(c), C.R.S. and pursuant to Section VII of the Service Plan approved by the Town of Erie, Colorado on August 13, 2019, the following report of the activities of Nine Mile Metropolitan District (the “District”) from January 1, 2025 to December 31, 2025 is hereby submitted.
(a) A narrative summary of the progress of the District in implementing its Service Plan;
The District was created February 4, 2020 and held its organizational meeting on February 18, 2020. The District is proceeding as planned with regard to implementing its Service Plan.
(b) Except when an exemption from audit has been granted for the fiscal year under the Local Government Audit Law, the audited financial statements of the District for the fiscal year including a statement of financial condition (i.e. balance sheet) as of December 31 of the fiscal year and the statement of operations (i.e. revenues and expenditures) for the fiscal year;
The District’s 2024 Audit is linked below. The District’s 2025 Audit will be provided upon completion.
2024 Audit- Nine Mile MD(c) Unless disclosed within a separate schedule to the financial statements, a summary of the capital expenditures incurred by the District in development of public facilities in the fiscal year, as well as any capital improvements or projects proposed to be undertaken in the five (5) years following the fiscal year;
2025 expenses for public facilities/capital improvements were approximately $1,000,000.
The Developer previously completed all public infrastructure projects on behalf of the District, including but not limited to; landscaping, road improvements, grading, storm water detention ponds, extension of water, sewer and storm sewer utilities. No additional capital improvements or projects are proposed in the next five (5) years. The District’s primary ongoing responsibility will be maintaining its various public improvements.
(d) Unless disclosed within a separate schedule to the financial statements, a summary of the financial obligations of the District at the end of the fiscal year, including the amount of outstanding indebtedness, the amount and terms of any new District indebtedness or long-term obligations issued in the fiscal year, the amount of payment or retirement of existing indebtedness of the District in the fiscal year, the total assessed valuation of all taxable properties within the District as of January 1 of the fiscal year, and the current mill levy of the District pledged to debt retirement in the fiscal year;
On October 30, 2020, the District issued $17,775,000 of Special Revenue Bonds Series 2020 (the “Bonds”) for the purpose of financing or reimbursing a portion of the costs of acquiring, constructing, and installing certain public improvements, funding reserves and capital interest, and paying certain costs in connection with the Bonds. The bonds are term bonds, of which, $4,515,000 bear interest at 4.625%, mature December 1, 2023; and $13,260,000 bear interest at 5.125%, mature December 1, 2040, payable semiannually on each June and December 1, commencing on December 1, 2020.
Debt Service Schedule:
The following is a summary of the annual long-term debt principal and interest requirements.
| Year | Principal | Interest | Total |
|---|---|---|---|
| 2025 | $570,000 | $869,431 | $1,439,431 |
| 2026 | $620,000 | $843,069 | $1,463,069 |
| 2027 | $655,000 | $814,394 | $1,469,394 |
| 2028 | $710,000 | $784,100 | $1,494,100 |
| 2029 | $745,000 | $751,263 | $1,496,263 |
| 2030-2034 | $4,585,000 | $3,160,919 | $7,745,919 |
| 2035-2040 | $6,305,000 | $1,823,476 | $8,128,476 |
| 2040 | $3,175,000 | $162,719 | $3,337,719 |
| Total | $17,365,000 | $9,209,371 | $26,574,371 |
The Assessed Value for budget year 2026 was a net amount of $397,861.
Pursuant to the approved Service Plan, the District shall not impose a mill levy on taxable property within its boundaries as a source of revenue for repayment of debt. The District may impose a mill levy on taxable property within its boundaries as a source of revenue for operations and maintenance. The District imposed a 0.000 mill levy for budget years 2020-2026. The District’s revenue source is derived from Urban Renewal Area shared tax revenue, sales tax revenue and interest income.
(e) The District’s budget for the calendar year in which the annual report is submitted;
The District’s 2026 Budget is linked below.
2026 Budget - Nine Mile MD .pdf(f) A summary of residential and commercial development which has occurred within the District for the fiscal year;
Since the issuance of the Series 2020 Bonds, the Developer completed construction of all horizontal improvements for the development, completed construction of its multifamily and multi-tenant retail shops and sold or leased all lots within the District. Construction has been completed by end users for all of the commercial buildings within the District and it is fully stabilized from a construction/leasing standpoint.
(g) A summary of all taxes, fees, charges and assessments imposed by the District as of January 1 of the fiscal year;
The District imposed a 0.000 mill levy for budget years 2020-2026.
(h) The name, business address and telephone number of each member of the Board and its chief administrative officer and general counsel, together with the date, place and time of the regular meetings of the Board.
Tyler Carlson- Board Member, President
1873 South Bellaire Street, Suite 1200
Denver, CO 80222
602-808-8066
Erika Shorter - Board Member
1873 South Bellaire Street, Suite 1200
Denver, CO 80222
602-808-8066
Megan Becher, Esq. - General Counsel
McGeady Becher Cortese Williams P.C.
450 E 17th Avenue, Suite 400
Denver, CO 80203
303-592-4380
Regular 2026 meetings are scheduled for July 13 and October 26, 2026 at 1:00 p.m. to be held by electronic means.
(i) Boundary changes made;
There were no boundary changes made during the reporting period.
(j) Intergovernmental Agreements entered into or terminated;
No Intergovernmental Agreements were entered into or terminated during the reporting period.
(k) Access information to obtain a copy of rules and regulations adopted;
The District’s website address is: https://ninemilemetropolitandistrict.specialdistrict.org/. The District has not adopted any rules or regulations.
(l) Summary of litigation involving the District’s public improvements;
There has been no litigation involving the District’s public improvements.
(n) Conveyances or dedications of facilities or improvements, constructed by the District, to the Boulder County or Town of Erie;
No conveyances or dedications of facilities or improvements constructed by the District were made to Boulder County or the Town of Erie during the reporting period.
(o) 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.
(p) Any inability of the District to pay its obligations as they come due, in accordance with the terms of such obligations, which continues beyond a ninety (90) day period;
To our knowledge, the District has been able to pay its obligations as they come due.
*For accessibility purposes, references to exhibits have been removed and links to exhibit documents have been added. For a copy of the Annual Report with exhibits as filed with the jurisdiction, please contact info@specialdistrictlaw.com.
For accessibility purposes, this is an alternate conforming version of the 2025 Annual Report.
2026 Mill Levy - 0.000 Mills
2025 Budget Amendment2025 Budget2025 Mill Levy - 0.000 Mills
2024 Budget Amendment2024 Budget2024 Mill Levy - 0.000 Mills
The Transparency Notice for the District can be accessed on the Special District Association website:
