Fruition Lochbuie Metropolitan District No. 2 Documents
2024 ANNUAL REPORT
FRUITION LOCHBUIE METROPOLITAN DISTRICT NOS. 1-4
As required by Section VIII.b., of the Service Plans for the Fruition Lochbuie Metropolitan District Nos. 1-4 (collectively, the “Districts”), each approved by the Town of Lochbuie Board of Trustees, Colorado (the “Town”) on September 19, 2023, we present the following report of the Districts’ activities from January 1, 2024 to December 31, 2024.
1. A narrative summary of the progress of the District in implementing its Service Plan for the report year.
The Districts were organized on March 1, 2024, and are in the beginning stages of implementing the Districts’ Service Plans.
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 a statement of operations (i.e., revenues and expenditures) for the report year. However, if an exemption from audit has been granted for the report year by the Office of the State Auditor, then the District shall include a copy of the submitted application for exemption from audit and the State’s letter confirming acceptance of such application.
Below are links to the 2024 Applications for Audit Exemptions. Letters from the State Auditor confirming acceptance of the 2024 Applications for Audit Exemptions have not been received.
District No. 1 - 2024 Audit ExemptionDistrict No. 2 - 2024 Audit ExemptionDistrict No. 3 - 2024 Audit ExemptionDistrict No. 4 - 2024 Audit Exemption3. Unless disclosed within a separate schedule to the financial statements, a summary of the capital expenditures incurred by the District in development of any 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.
There were no capital expenditures incurred by the Districts in development of any public improvements during 2024. It is the Districts’ intent to proceed with the development of public improvements as outlined in the Service Plans.
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 property of 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.
The Districts have no outstanding debt as of December 31, 2024. The 2024 final assessed valuation for District No. 1 is $10.00, District No. 2 is $10.00, District No. 3 is $10.00, and District No. 4 is $10.00. The Districts did not impose a debt service mill levy in 2024 for collection in 2025.
5. The District’s budget for the calendar year in which the annual report is submitted.
District No. 1 - 2025 BudgetDistrict No. 2 - 2025 BudgetDistrict No. 3 - 2025 BudgetDistrict No. 4 - 2025 Budget6. A summary of the residential development in the District for the report year.
There was no residential development in the Districts during 2024.
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 Districts during 2024.
8. 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, if any, of the Board.
Board of Directors:
Joel H. Farkas
9033 E. Easter Place, Suite 112
Centennial, CO 80112
(720) 362-5995
Toni L. Serra
9033 E. Easter Place, Suite 112
Centennial, CO 80112
(720) 362-5995
Chief Administrative Officer / General Counsel:
Paula J. Williams
McGeady Becher Cortese Williams P.C.
450 E. 17th Avenue, Suite 400
Denver, CO 80203
(303) 592-4380
2025 Regular Board Meetings:
October 27, 2025, at 2:00 p.m., via Zoom
The following information required by Section 32-1-207(3)(c)(II), C.R.S. (and not already disclosed above) is also provided:
9. Boundary changes made.
There were no boundary changes made during 2024.
10. Intergovernmental Agreements entered into or terminated.
The following Intergovernmental Agreements were entered into during 2024:
· Intergovernmental Agreement Town of Lochbuie dated October 18, 2024 between the Town and Fruition Lochbuie Metropolitan District No. 1.
· Intergovernmental Agreement Town of Lochbuie dated October 18, 2024 between the Town and Fruition Lochbuie Metropolitan District No. 2.
· Intergovernmental Agreement Town of Lochbuie dated October 18, 2024 between the Town and Fruition Lochbuie Metropolitan District No. 3.
· Intergovernmental Agreement Town of Lochbuie dated October 18, 2024 between the Town and Fruition Lochbuie Metropolitan District No. 4.
· Memorandum of Understanding dated October 18, 2024 by and among Fruition Lochbuie Metropolitan District Nos. 1, 2, 3 and 4.
11. Access information to obtain a copy of rules and regulations adopted.
Adopted rules and regulations, if any, are available at the offices of McGeady Becher Cortese Williams P.C., 450 E. 17th Avenue, Suite 400, Denver, CO 80203 (303-592-4380) or on the Districts’ website: https://fruitionlochbuiemetrodistrict.specialdistrict.org/
12. Summary of litigation involving the District’s public improvements.
There is no litigation involving the Districts’ public improvements.
13. Conveyances or dedications of facilities or improvements, constructed by the District, to the Town.
The Districts did not construct or acquire any improvements during 2024, nor were any improvements dedicated to the Town during 2024.
14. 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 Districts which continue beyond a ninety (90) day period.
15. 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 Districts have been able to pay their obligations as they come due.
*For accessibility purposes, this is an alternate conforming version of the Annual Report
The Transparency Notices for the Districts can be accessed on the Special District Association website:
https://www.sdaco.org/special-district-transparency-notice/sda-transparency/search/p/F
