Siena Lake Metropolitan District

Siena Lake Metropolitan District (formerly Saddleridge Metropolitan District) was formed to provide funding for construction and operations of public improvements for a community that will encompass approximately 170 acres of land in Gypsum, located to the South of Costco.

Metropolitan districts are local governments that finance public improvements and provide services to promote the health, safety, prosperity, security, and general welfare of the inhabitants of the districts and the people of the state of Colorado. Metropolitan districts fill the gaps that may exist in services that other local governments will not provide, and the services residents may desire. Siena Lake Metropolitan District (the “District”) provides the following improvements and services: streets, street lighting, traffic and safety controls, water, landscaping, sanitary and storm sewers and flood and surface drainage, and park and recreation.

Pursuant to the District’s Second Amended and Restated Service Plan, approved by the Town of Gypsum on September 25, 2018 (the “Service Plan”), the District is authorized to incur $28,000,000 of debt and impose a maximum debt mill levy of 50 mills subject to adjustment, as defined in the Service Plan, for repayment of such debt. The Service Plan authorizes the repayment of debt from the following sources: ad valorem taxes, fees, rats, tolls, charges, and penalties. 

The Board of Directors (the “Board”) governs the District. Board members are elected for four-year terms. During election years, the District must provide the Call for Nominations to the electors of the District noting the Board seats up for election. If an owner or resident would like to run for a Board seat up for election, he or she must submit a self-nomination form to the Designated Election Official by the applicable deadline as provided in the Call for Nominations. When a vacancy occurs on the Board between elections, an owner or resident may contact the District and request to submit a letter of interest to be appointed to Board. When an individual is appointed to the Board, the term for that appointment runs to the next regular election.

To qualify as a director of a district, a person must be an “eligible elector” which is defined as a registered voter of Colorado and either: (1) a resident of the District, or (2) the owner (or the spouse or civil union partner of the owner) of taxable real or personal property located within the District. A person who is under contract to purchase taxable property and is obligated to pay taxes prior to closing is also considered an “owner.”

The District files its annual report for the prior year with the Town of Gypsum.