GOVERNANCE - OPERATIONS, DEBT AND FEES
OPERATIONS, DEBTS AND FEES OF THE GVR METROPOLITAN DISTRICT
The primary sources of revenue for payment of operating costs are from property taxes, program fees and from system development charges. The District’s total budget is authorized from property tax revenue generated by a current total mill levy of 27.083 mills for calendar year 2012. This figure also includes taxes to support the HOA Operations that the District provides for the Master HOA through a collaborative partnership to help keep costs lower for those living in Green Valley Ranch. Currently through this relationship, there is no additional HOA Assessment annually.
The initial infrastructure of the District was funded by authorizing debt in the form of bonds beginning in 1984. The District’s outstanding debt principal, as of December 31, 2009 was $4,315,000. The District has authorized debt repayment in 2012 through a mill levy of 8.863 mills. Current infrastructure of the District is funded by system development charges, which are charged to developers for commercial construction within the District. The system development charge for 2012 is $5,500 per single family equivalent.
The District charges fees for its community parks and recreational programs. Funds received from other outside sources, such as the Colorado Conservation Trust fund are also used to support community programs as well as maintenance of District facilities, which benefit the community in general. The District applies for and uses grants and contracts whenever possible and feasible to enhance community programs and public common areas.
Other Benefits of the Metro District: