Carousel Farms Metropolitan District

 The Annual Report is filled with  Douglas County and the Town of Parker.

ANNUAL INFORMATION REPORT

for the year 2024

CAROUSEL FARMS METROPOLITAN DISTRICT

As required by Section VII of the Service Plan for Carousel Farms Metropolitan District (the “District”), approved by the Town of Parker, Colorado (the “Town”) on September 15, 2014, as subsequently appended pursuant to Resolution No. 22-065, Series 2022, A Resolution Approving Adjustment of Mill Levies Resulting From Legislative or Constitutionally Mandated Reductions, as adopted by the Town Council on November 21, 2022, the following report of the District’s activities from January 1, 2024 to December 31, 2024 is hereby submitted.

1.                  A narrative summary of the progress of the District in implementing its Service Plan for the report year:

During 2024, the District continued implementing its Service Plan and is proceeding as planned.

The District did not construct or install any public infrastructure during 2024 and does not plan on constructing or installing any future public infrastructure at this time.  The District does not plan to undertake any maintenance or operations activities in 2025.

2.                  Except when exemption from audit has been granted for the report year under the Local Government Audit Law, the audited financial statements of the District for the report year including a statement of financial condition (i.e., balance sheet) as of December 31 of the report year and the statement of operations (i.e., revenues and expenditures) for the report year:

A copy of the 2024 Audit is attached here: 

3.                  Unless disclosed within a separate schedule to the financial statements, a summary of the capital expenditures incurred by the District in development of Public Improvements in the report year, as well as any Public Improvements proposed to be undertaken in the five (5) years following the report year:

Please refer to the 2024 Audit and the 2025 Budget, respectively.  The District did not construct any Public Improvements in 2024 and does not plan on constructing or installing any future Public Improvements at this time.

4.                  Unless disclosed within a separate schedule to the financial statements, a summary of the financial obligations of the District at the end of the report year, including the amount of outstanding Debt, the amount and terms of any new Debt issued in the report year, the amount of payment or retirement of existing Debt of the District in the report year, the total assessed valuation of all taxable properties within the District as of January 1 of the report year, and the current mill levy of the District pledged to Debt retirement in the report year:

On December 23, 2021, the District issued its $3,162,500 General Obligation Limited Tax Bonds, Series 2021A (the “Series 2021A Bonds”) for the purpose of reimbursing a portion of the costs of certain public improvements. As of 2024, $3,162,500 remained outstanding on the Series 2021A Bonds, as no payments were made in 2024.  See the 2024 Audit for additional details regarding the Series 2021A Bonds and the District’s other financial obligations.  The District did not issue any new debt in 2024.

The Assessed Value for 2024 was $5,768,590. The District imposed a total mill levy of 54.907 mills on the property within the District for collection in 2025, of which 47.973 mills was for debt retirement. 

5.                  The District’s budget for the calendar year in which the annual report is submitted:

The  2025 Budget is attached here: 

6.                  A summary of the residential development in the District for the report year:

Residential development has been completed pursuant to the Service Plan.

7.                  A summary of all fees, charges and assessments imposed by the District as of January 1 of the report year:

There were no fees, charges or assessments imposed by the District during 2024.

8.                  Certification of the Board that no action, event or condition enumerated in Town Code section 10.11.060 has occurred in the report year, or certification that such event has occurred but that an amendment to the Service Plan that allows such event has been approved by Town Council:

The Board certifies to the best of its knowledge that no action, event or condition in Town Code section 10.11.060 has occurred in 2024.

9.                  The name, business address and telephone number of each member of the Board and its chief administrative officer and general counsel, together with the date, place and time of the regular meetings of the Board:

Directors:

Cynthia Myers, President

c/o CliftonLarsonAllen LLP

2001 16th Street, Ste. 1700

Denver, CO 80202

Phone: 303-779-5710

VACANT

c/o CliftonLarsonAllen LLP

2001 16th Street, Ste. 1700

Denver, CO 80202

Phone: 303-779-5710

VACANT

c/o CliftonLarsonAllen LLP

2001 16th Street, Ste. 1700

Denver, CO 80202

Phone: 303-779-5710

VACANT

c/o CliftonLarsonAllen LLP

2001 16th Street, Ste. 1700

Denver, CO 80202

Phone: 303-779-5710

VACANT

c/o CliftonLarsonAllen LLP

2001 16th Street, Ste. 1700

Denver, CO 80202

Phone: 303-779-5710

District Manager/Chief Administration Officer:

Lisa Johnson

CliftonLarsonAllen LLP

2001 16th Street, Ste. 1700

Denver, CO 80202

Phone: 303-779-5710

General Counsel:

Elisabeth A. Cortese, Esq.

McGeady Becher Cortese Williams P.C.

450 East 17th Avenue, Suite 400

Denver, Colorado 80203-1254

Phone: (303) 592-4380

Accountant:

Diane Wheeler

Simmons & Wheeler, P.C.

304 Inverness Way, Suite 490

Englewood, CO 80112

Phone: (303) 981-0386

The District has scheduled 2025 regular meetings for: November 4, 2025 at 12:00 p.m. to be held virtually.

10.              Certification from the Board of the District that the District is in compliance with all provisions of the Service Plan:

The Board certifies to the best of its knowledge, the District is in compliance with all provisions of the Service Plan.

11.              A copy of the most recent notice issued by the District, pursuant to Section 32-1-809, C.R.S.:

The District’s 2025 Transparency Notice is attached here: 

The following information required by Section 32-1-207(3)(c)(II), C.R.S. (and not already disclosed above) is also provided:

12.              Boundary changes made:

No boundary changes were made or proposed during 2024.

13.              Intergovernmental Agreements entered into or terminated:

There were no intergovernmental agreements entered into or terminated by the District since the filing of the last annual report.

14.              Access information to obtain a copy of rules and regulations adopted:

The District has not adopted any rules or regulations as of December 31, 2024.  In the event the District adopts rules and regulations in the future, such documents may be accessed at the offices of CliftonLarsonAllen LLP, 2001 16th Street, Ste. 1700, Denver, CO 80202, or on the District’s website: https://www.carouselfarmsmetrodistrict.org/. 

15.              Summary of litigation involving the District’s public improvements:

To our knowledge, there is no litigation involving the District’s Public Improvements.

16.              Conveyances or dedications of facilities or improvements, constructed by the District, to the Town:

The District did not convey or dedicate any facilities or improvements to the Town of Parker in 2024.

17.              Notice of any uncured events of default by the District, which continue beyond a ninety (90) day period, under any debt instrument:

To our knowledge, there are no uncured events of default by the District which continue beyond a ninety (90) day period.

18.              Any inability of the District to pay its obligations as they come due, in accordance with the terms of such obligations, which continues beyond a ninety (90) day period:

To our knowledge, the District has been able to pay its obligations as they come due.

*For accessibility purposes, references to exhibits have been removed and links to exhibit documents have been added. For a copy of the Annual Report with exhibits as filed with the jurisdiction, please contact sdaccessibility.claconnect.com