Peak Metropolitan District Nos. 1-7

annual information report
for the year 2023
PEAK METROPOLITAN DISTRICT NO. 1

As required by Section 32-1-207(3)(c), C.R.S. and Section VII of the Consolidated Service Plan for Peak Metropolitan District Nos. 1, 2 and 3 (hereinafter referred to as the “District”, “District No. 2”, “District No. 3” and collectively the “Districts”), approved by the City of Colorado Springs (the “City”) on August 28, 2018, and as amended from time to time (the “Service Plan”), the following report of activities for the District from January 1, 2023 to December 31, 2023 is hereby submitted.

(1)               Boundary changes made or proposed to the District’s boundary as of December 31 of the prior year. No inclusions or exclusions of property were effectuated during the reporting period, however, an Amended Order for Inclusion Nunc Pro Tunc to February 1, 2021, was recorded at Reception No. 223025285 of the Real Property Records of the Clerk and Recorder of El Paso County on March 29, 2023.

(2)               Intergovernmental Agreements with other governmental entities either entered into, proposed or terminated as of December 31 of the prior year.  The District entered into the following intergovernmental agreements during 2023:

Reimbursement Agreement. The District and District No. 3 entered into a Reimbursement Agreement, dated March 29, 2023 and effective December 21, 2022, which sets forth the terms by which District No. 3 will reimburse the District for certain expenses paid for by the District, associated with public improvements that benefit both the District and District No. 3.

(3)               Access information to obtain a copy of the District’s rules and regulations, if any, as of December 31 of the prior year.  The District does not currently have any rules and regulations and there were none proposed during 2023. The Districts’ website address is: https://peakmetropolitandistricts.specialdistrict.net/

(4)               A summary of any litigation which involved the District Public Improvements as of December 31 of the prior year.  None.

(5)               Status of the District’s construction of the Public Improvements as of December 31 of the prior year.  The following Public Improvements were in progress during 2023:

For Planning Area 6 - Improvements at Vector Heights, Enertia Pt., and Peak Innovation Pkwy. (completion anticipated in 2024):

a.         storm facilities

For Planning Area 7 - Ponds 500 and 600 (completion anticipated in 2024):

a.                   storm facilities

(6)               A list of all facilities and improvements constructed by the District that have been dedicated to and accepted by the City as of December 31 of the prior year.  The following facilities and improvements were constructed by the District and dedicated to and accepted by the City as of December 31, 2023:

For Planning Area 5 - Improvements at Summit View Heights, ALJOR Pt., Enertia Pt., and Milton E. Proby Pkwy.:

a.         streets;
b.         safety improvements;
c.         water; and
d.         sewer & storm facilities

(7)               The final assessed valuation of the District for the current year. $16,513,020

(8)               Current year budget including a description of the Public Improvements to be constructed in such year.  It is anticipated that the following Public Improvements will be constructed and/or completed during 2024:

For Planning Area 5 - Improvements at Summit View Heights, ALJOR Pt., Enertia Pt., and Milton E. Proby Pkwy. (completion anticipated in 2024):

               a.         street lighting

For Planning Area 6 - Improvements at Vector Heights, Enertia Pt., and Peak Innovation Pkwy. (construction in progress in 2024):

a.         streets;
b.         safety improvements;
c.         water; and
d.         sewer

(9)        Audit of the District’s financial statements, for the year ending December 31 of the previous year, prepared in accordance with generally accepted accounting principles or audit exemption, if applicable. 

(10)      Notice of any uncured events of default by the District, which continue beyond a ninety (90) day period, under any Debt instrument.  None.

(11)      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.  None.

(12)      Copies of any Certifications of an External Financial Advisor provided as required by the Privately Placed Debt Limitation provision. Not Applicable.

*For accessibility purposes this is an alternate conforming version of the 2023 Annual Report

2025 Mill Levy - 40.577 Mills

2024 Mill Levy - 40.577 Mills

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/P