• Allison Valley Metro Districts

The Allison Valley Metro District incorporates all of the land within The Farm. the AVMD contains approximately 400 gross acres. The AVMD has been established for the purpose of planning, designing, acquiring, installing, relocating, redeveloping and financing the construction of all or most of the infrastructure, public improvements, streets and drainage, water, wastewater, traffic control, mosquito control, park and recreation, transportation, parks, trails, landscaping and other public improvements within the AVMD.

DOCUMENTS

The City of Colorado Springs approved the creation of the Allison Valley Metropolitan Districts Nos. 1 and 2 (jointly, the “AVMD”) pursuant to Sections 31-25-601, et seq., of the Colorado Revised Statutes. The AVMD has been authorized to issue up to $30,000,000.00 in bonds or debt to fund such public improvements and to operate and maintain public improvements, bridges, parks, trails, open space, landscaping and other amenities installed, constructed or owned by the AVMD.

The AVMD has the power and authority to impose a mill levy and collect a property tax from all property owners within the AVMD to repay the debt incurred to acquire and construct such public improvements. The mill levy and the amount of the taxes imposed will be determined annually in accordance with law and will appear on and be part of Purchaser’s annual real property tax bill. All homes constructed within The Farm are subject to mill levy and taxes of the AVMD. The mill levy of the AVMD will not exceed a total of 40 mills (with a maximum of 30 mills for debt service and 10 mills for operations and maintenance) in any year; provided that if, on or after January 1, 2006, there are changes in the method of calculating assessed valuation or any constitutionally mandated tax credit, cut or abatement, the debt service mill levy may be increased or decreased to reflect such changes and otherwise as provided in the AVMD Service Plan. The mill levy currently imposed by the AVMD is 40 mills. The debt service mill levy shall not be imposed in excess of 40 years after the year of the initial imposition of the mill levy unless (1) a majority of the Board of Directors of the District imposing the mill levy are residents of such District and (2) such Board has voted in favor of issuing debt with a term which requires or contemplates the imposition of a debt service mill levy for a longer period of time than the limitation contained herein. AVDC makes no other warranties or representations concerning the size of the mill levy or the amount of the taxes imposed by the AVMD. The AVMD also has the authority to assess fees, rates, tolls, penalties or charges as provided by the Special District Act or other state statutes. The AVMD is not allowed to impose a sales tax. Purchaser acknowledges receipt of AVMD’s Notice of Special District.

EVENTS

AVMD will meet throughout the year at publicly noticed board meetings. Stay tuned for upcoming dates.

The Boards of Directors of the ALLISON VALLEY METROPOLITAN DISTRICT NOS. 1-2 of El Paso County, Colorado, will hold a joint special meeting at 11:00 a.m. on December 8, 2020 at La Plata Communities, Inc., 1755 Telstar Drive, Ste. 211, Colorado Springs, CO 80920.

CONTACT

Donald B. Gravette
District Manager
dgravette@laplatallc.com
719-963-3236

Attorney
Spencer Fane LLP
Pat Hrbacek, Legal Counsel
phrbacek@spencerfane.com
Courtney Linney, Legal Assistant
1709 Lincoln Street, Suite 2000
Denver, CO 80203
303-839-3895

Accountants
CliftonLarsonAllen LLP
Carrie Bartow & Janece Soendker
111 S. Tejon Street, Suite 705
Colorado Springs, CO 80903
719-635-0330

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