District Documents
INTERPARK METROPOLITAN DISTRICT
450 E. 17th Avenue, Suite 400
Denver, Colorado 80203
Phone: 303-592-4380
Facsimile: 303-592-4385
ANNUAL REPORT
(Year Ending December 31, 2023)
INTERPARK METROPOLITAN DISTRICT (the “District”)
Pursuant to Section 32-1-207(3)(c), C.R.S., and Section XI.A. of the Service Plan approved on June 13, 2017, the District hereby submits the following information and attachments in the form prescribed by the City and County of Broomfield for the year ending December 31, 2023 (the “Report Year”):
A. Board of Directors
Directors:
Delinda Michael, President
Colliers International
4643 S. Ulster St., Suite 1000
Denver, CO 80237
Phone: 303-745-5800
E-mail: delinda.michael@colliers.com
There are currently four (4) vacancies on
the Board of Directors.
General Counsel/District Manager:
Megan Becher, Esq.
McGeady Becher Cortese Williams P.C.
450 E. 17th Avenue, Suite 400
Denver, CO 80203
Phone: 303-592-4380
E-mail: mbecher@specialdistrictlaw.com
District Accountant:
Diane Wheeler
Simmons & Wheeler, P.C.
304 Inverness Way South, Suite 490
Englewood, CO 80112
Phone: 303-689-0833
E-mail: diane@simmonswheeler.com
B. District Boundaries
There were no boundary changes made during the Report Year.
C. Intergovernmental Agreements
The District did not enter into or terminate any intergovernmental agreements during the Report Year.
D. The District’s Policies and Operations / Rules and Regulations
As of December 31 of the Report Year, the District had not adopted any formal rules, regulations, policies or procedures. Should any rules and regulations be adopted, they may be obtained from the office of the General Counsel/District Manager (see Exhibit A).
E. Litigation
To our knowledge, there was no litigation involving the District’s public improvements during the Report Year.
F. Construction of Public Improvements
As of December 31, 2021, the construction of public improvements in the District was complete.
G. Conveyances or dedications of facilities or improvements constructed by the District to the City and County of Broomfield or other entity
No facilities or improvements constructed by the District were conveyed or dedicated to the City and County of Broomfield or any other entity during the Report Year.
H. Financial Information
1. Budget:
2024 Budget2. Debts: The District issued its $6,470,000 Limited Tax (Convertible to Unlimited Tax) General Obligation and Revenue Bonds, Series 2018, on July 19, 2018. During the Report Year, on May 18, 2022, the District issued its $6,680,000 Taxable (Convertible to Tax Exempt) Limited Tax (Convertible to Unlimited Tax) General Obligation Refunding and Improvement Loan, Series 2022, which refunded in full the Series 2018 Bonds, and utilized the loan proceeds to further reimburse the Developer $702,822 in principal and $217,876 in accrued interest for additional verified public improvement costs incurred by the Developer.
3. Audits: The District’s 2022 Audit is below. It was completed after the 2022 Annual Report was filed, so it is included with this 2023 Annual Report. Also, per the loan documents referenced above, the District is no longer required to file an audit and can request an exemption from audit, as long as it meets the statutory requirements for such exemption. Therefore, the District’s Application for Exemption from Audit for 2023 is included below.
2022 Audit2023 Audit Exemption4. Final Assessed Valuation for the Report Year:
Interpark Metropolitan District - $12,325,911
Interpark Metropolitan District Bond - $12,325,911
I. 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.
J. 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
To our knowledge, the District has been able to pay its obligations as they become due.
*For accessibility purposes, this is an alternate conforming version of the 2023 Annual Report
The Transparency Notice for the District can be accessed on the Special District Association website:
https://www.sdaco.org/special-district-transparency-notice/sda-transparency/search/p/I
