District Dissolving - Last District Board Meeting will be Tuesday, February 26, 2019.  
  At their November 27th Board meeting, the Board decided to dissolve the District after 1st quarter 2019.  Their last District Board meeting will be Tuesday February 26, 2019.  
  The E470 Potomac Metropolitan District consists of the 241 homes in the Dove Ridge subdivision completed by US Homes in the early 2000ís in unincorporated Douglas County.  All of the necessary infrastructure (water, sewer, storm drainage improvements, Chambers Road) was constructed by the Compark Business Campus Metropolitan District to the west. Under an IGA between the two Districts, E470 Potomac is repaying Compark with itís Debt Service Mill levy until 2018. At that time, Potomac will have no more debt and will continue to have only the operations and maintenance mill levy.  The District did not construct any of the internal street, park and open space improvements within the District. These were constructed by the builder/developer.  
  May 21 2018  
  At their May 22 Board meeting, the Board decided to dissolve the District effective January 1, 2019.  There will be no mill levy in 2019 or the future for the 241 homes in the Dove Ridge project from the E470 Potomac MD.  In 2018 this was 50.564 mills.

Their last District Board meeting will be Tuesday November 27, 2018.


However, approximately $30,000 in conservation trust funds (CTF) remain available to be spent in Dove Ridge for qualifying open space and trail projects in the public rights of way or easements within the District.  As of August 1, 2018 the District has not received any requested projects.  It is not clear what happens to these funds after January 1, 2019 if they are not spent or committed in 2018.

Please submit any project requests to stephanie.net@claconnect.com for immediate consideration by the board.  Please see the Colorado Department of Local Affairs website for a discussion of eligible CTF projects.
         Mill Levy Change February 2018                                                                                    
                                                                                                                                                                     February 2018  
                                                                E-470 Potomac Metropolitan District                                                  
  8390 E. Crescent Pkwy, STE 500
Greenwood Village, CO 80111

Information Regarding Upcoming Mill Levy Changes
  In November 1998, the E-470 Potomac Metropolitan District (the District) entered into a Facilities Construction and Service Agreement with Compark Business Campus Metropolitan District (CBC) to assist in payment for the infrastructure needed to begin construction of the U.S. Homes projects and allow the District to become what it is today. The infrastructure built under the Facilities Construction and Service Agreement included water, sanitation, street, safety, and park and recreation facilities serving the Dove Ridge development.  
  Per the agreement, the District has been repaying CBC for the costs of its infrastructure through the debt service mill levy paid on the annual property tax bills of District homeowners.
Residents currently pay a total of 50.564 mills to the District, with 44.027 mills dedicated to debt service. This coming year 2018, will be the last in which the District is obligated to pay CBC. In 2019, the District will remove the debt service mill levy.
  What happens after the debt is paid off?  
  The Board is considering two options for the future of the District after the debt is paid off in 2018:  
  1. Keep a small mill levy to pay for operations and maintenance and accept Conservation Trust Fund money  
  2. Dissolve the District and end the mill levy entirely  
  Reduced Mill Levy  
  If the Board elects to pay for operations and maintenance only, property taxes that are paid to the District will be used for the Districtís administrative viability such as legal, management, accounting, insurance and other administrative expenditures. In 2018, 6.537 mills are dedicated to operations and maintenance.  
  One factor in this decision is that the District also receives money annually from the State of Colorado Department of Local Affairsí Conservation Trust Fund (CTF). Money from CTF is distributed on a quarterly basis and can be used for the acquisition, development, and maintenance of new conservation sites or for capital improvements or maintenance for recreational purposes on any public site. The funds received from the CTF go towards HOA projects in public right of way or easement areas (the Dove Ridge Park, etc.) upon request by the HOA. The District generally receives about $3,850 from CTF annually. If the District dissolves, the District will no longer receive these funds.  
  If the Board decides to ask the voters in the District or if conditions allow for dissolution of the District without an election, after the debt is paid off, and the dissolution is completed, then property owners will no longer see a line item for E-470 Potomac MD on their property tax bills  
  Next Steps  
  The Board will discuss the Districtís future at the next Board Meeting, scheduled for 12:00 p.m. on May 22, 2018 at CliftonLarsonAllen LLP, 8390 E. Crescent Parkway, Suite 500, Greenwood Village, CO 80111.  
  Please contact District Manager Bob Blodgett at bob.blodgett@claconnect.com or Assistant District Manager Pat Shannon at patrick.shannon@claconnect.com with any questions.  
  Colorado Senate Bill 2009-87 Compliance: In 2009 Colorado enacted legislation requiring information about metropolitan and special districts be disclosed and available to District constituents.  
      District Transparency Notice 2019  
  See our Contacts page for informational inquiries regarding E470-Potomac Metropolitan District.  
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