Peak Metropolitan District Nos. 1-7

annual information report
for the year 2023
PEAK METROPOLITAN DISTRICT NO. 3

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 “District No. 1”, “District No. 2”, the “District” 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, a Second Amended Order for Inclusion Nunc Pro Tunc to September 8, 2022, was recorded at Reception No. 223000128 of the Real Property Records of the Clerk and Recorder of El Paso County on January 3, 2023.

(2)               Intergovernmental Agreement 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. 1 entered into a Reimbursement Agreement, dated March 29, 2023 and effective December 21, 2022, which sets forth the terms by which the District will reimburse District No. 1 for certain expenses paid for by District No. 1, associated with public improvements that benefit both the District and District No. 1.

Availability of Funds and Step-In Rights Agreement. The District entered into an Availability of Funds and Step-In Rights Agreement with the City of Colorado Springs, Colorado, by and through its enterprise, the Colorado Springs Municipal Airport, and Peak Innovation, LLC, on July 18, 2023.

Public Improvement Intergovernmental Agreement. The District entered into a Public Improvement Intergovernmental Agreement with the City of Colorado Springs, Colorado, by and through its enterprise, the Colorado Springs Municipal Airport, effective July 18, 2023 and was recorded at Reception No. 223060824 of the Real Property Records of the Clerk and Recorder of El Paso County on July 20, 2023.  

(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. 

(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 Integration Loop Phase 3 (west of Peak Innovation Pkwy.) (completion anticipated in 2024):

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

For Integration Loop Phase 4 and Pond 705 (west of Logistics Point and South of Integration Loop) (completion anticipated in 2024):

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

For Peak Lift Station (construction in progress):

a.         sewer facilities (completion anticipated in 2025)

(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.  No facilities and improvements were constructed by the District and dedicated to and accepted by the City as of December 31, 2023.

(7)               The final assessed valuation of the District for the current year. $34,590  

(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 Integration Loop Phase 3 (west of Peak Innovation Pkwy.) (completion anticipated in 2024):

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

For Integration Loop Phase 4 & Pond 705 (west of Logistics Point and South of Integration Loop) (completion anticipated in 2024):

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

For Peak Lift Station (completion anticipated in 2025):

a.         sewer facilities (completion anticipated in 2024)

(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 vesion of the 2023 Annual Report

2025 Mill Levy - 40.535 Mills

2024 Mill Levy - 40.536 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