District Documents
ANNUAL INFORMATION REPORT
FOR THE YEAR 2025
RIVERPARK METROPOLITAN DISTRICT
As required by Section 32-1-207(3)(c), C.R.S. and pursuant to Section VII of the Service Plan approved by the City of Littleton, Colorado on August 20, 2019, the following report of the activities of RiverPark Metropolitan District (the “District”) from January 1, 2025 to December 31, 2025 is hereby submitted.
1. A narrative summary of the progress of the District in implementing its
Service Plan for the report year;
The District is proceeding as planned with regard to implementing its Service Plan.
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 or a copy of the audit exemption application;
The District’s 2025 Audit is linked below.
Final 2025 Audit - RiverPark MD3. 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;
The District continued construction and capital expenditures on the public improvements associated with this development during the 2025 reporting period, which will continue through 2026 and into 2027.
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;
Information regarding the District’s issuance of its Limited Tax General Obligation and Special Revenue Bonds, Series 2024, in the amount of $19,560,000 (the “Series 2024 Bonds”), is included in the District’s 2025 Audit. The Assessed Value for tax year 2025 was $34,149. The District imposed an operations mill levy of 15.000 mills and a debt mill levy of 26.314 mills in 2025 for budget year 2026.
5. A summary of the residential and commercial development in the District
for the report year;
No private residential development occurred during the 2025 reporting period but will commence in 2026. Private infrastructure improvements commenced for the Block 2 retail development in 2025 and will be completed in 2026, which will facilitate commercial development within the District. The District, both directly and through the City of Littleton, continued construction on the public improvements for the overall master development during 2025, which will continue through 2026 and 2027.
6. A summary of all fees, charges and assessments imposed by the District as
of January 1 of the report year;
· On July 3, 2024, Evergreen-Mineral & Santa Fe, L.L.C., as Declarant, recorded the Declaration of Covenants Concerning Payment in Lieu of Taxes with the Arapahoe County Clerk and Recorder at Reception No. E4042540 (the “PILOT Covenant”). Pursuant to the PILOT Covenant, any property, or any portion thereof, that is exempt from taxes will be required to pay an annual payment in lieu of taxes to the District. Revenue from the PILOT Covenant is a component of the Pledged Revenue for the Series 2024 Bonds.
· On July 3, 2024, Evergreen-Mineral & Santa Fe, L.L.C., as Declarant, recorded the Declaration of Covenants Imposing and Implementing the RiverPark System Development Fee, dated July 2, 2024, with the Arapahoe County Clerk and Recorder at Reception No. E4042539 (the “SDF Covenant”). The SDF Covenant imposes a system development fee on District property in the amount of $0.50 per square foot of land within a lot, with regard to which such building square footage shall be determined by the application for a building permit. Revenue from the SDF Covenant is a component of the Pledged Revenue for the Series 2024 Bonds.
· On July 3, 2024, Evergreen-Mineral & Santa Fe, L.L.C., as Declarant, recorded the Declaration of Covenants Imposing and Implementing the RiverPark Sales Add On Public Improvement Fee, dated July 2, 2024, with the Arapahoe County Clerk and Recorder at Reception No. E4042541 (the “Sales PIF Covenant”). The Sales PIF Covenant imposes a public improvement fee on District property in the amount of 1.5% on all Taxable Sales (as defined in the Sales PIF Covenant) generated by any Retailer (as defined in the Sales PIF Covenant. Revenue from the Sales PIF Covenant is a component of the Pledged Revenue for the Series 2024 Bonds.
· On July 3, 2024, Evergreen-Mineral & Santa Fe, L.L.C., as Declarant, recorded the Declaration of Covenants Imposing and Implementing the RiverPark Services Add On Public Improvement Fee, dated July 2, 2024, with the Arapahoe County Clerk and Recorder at Reception No. E4042542 (the “Services PIF Covenant”). The Services PIF Covenant imposes a public improvement fee on District property in the amount of 3.5% on all PIF Service Sales (as defined in the Services PIF Covenant). Revenue from the Services PIF Covenant is a component of the Pledged Revenue for the Series 2024 Bonds.
7. Certification of the Board that no action, event or condition 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 City Council; and
None.
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 of the Board.
Tyler Carlson- Board Member, President
1873 South Bellaire Street, Suite 1200
Denver, CO 80222
303-757-0401
Erika Shorter - Board Member
1873 South Bellaire Street, Suite 1200
Denver, CO 80222
303-757-0401
Tyler Lundsgaard- Board Member
1873 South Bellaire Street, Suite 1200
Denver, CO 80222
303-757-0401
Megan Becher - General Counsel
McGeady Becher Cortese Williams P.C.
450 E 17th Avenue, Suite 400
Denver, CO 80203
303-592-4380
Regular 2026 meetings are scheduled for the 4th Tuesday of every month at 1:00 p.m. to be held by electronic means.
9. Boundary changes made;
There were no boundary changes made during the reporting period.
10. Intergovernmental Agreements entered into or terminated;
The District entered into the following Intergovernmental Agreements during the reporting period:
· The District, Evergreen-Mineral & Santa Fe, L.L.C. and the City of Littleton (the “City”), entered into an Agreement Pertaining to Step-In Rights dated January 30, 2025, pursuant to which the District, Evergreen-Mineral & Santa Fe, L.L.C. and the City (collectively, the “Parties”) have agreed that if Evergreen-Mineral & Santa Fe, L.L.C. does not construct the public improvements (the “Developer Public Improvements”) in accordance with the terms of the Subdivision Improvement Agreement, dated June 6, 2024, between the City and Evergreen-Mineral & Santa Fe, L.L.C. (the “Subdivision Improvement Agreement”), then the City will have the right to step-in and complete the Developer Public Improvements. The Parties have also agreed that if the City steps-in and undertakes the construction of any Developer Public Improvements, that the District will reimburse the City for the City’s construction of such Developer Public Improvements upon receipt of an Engineer’s Verification (as defined therein). The Agreement Pertaining to Step-in Rights shall remain in effect until December 31, 2025, and shall be automatically renewed for additional one-year periods until such time that all of the Developer Public Improvements have been completed unless any party provides written notice to the other Parties at least sixty (60) days prior to December 31st of each year.
11. Access information to obtain a copy of rules and regulations adopted;
The District’s website address is: https://riverparkmetropolitandistrict.specialdistrict.org/. The District has not adopted any rules or regulations.
12. Summary of litigation involving the District’s public improvements;
To our knowledge, there has been no litigation involving the District’s public improvements.
13. Conveyances or dedications of facilities or improvements, constructed by the District, to the Arapahoe County or the City of Littleton;
No conveyances or dedications of facilities or improvements constructed by the District were made to Arapahoe County, or the City of Littleton during the reporting period.
14. Current year’s budget.
The District’s 2026 Budget is linked below.
2026 Budget Packet - RiverPark MD .pdf15. 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.
16. 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, this is an alternate conforming version of the Annual Report
2026 Mill Levy - 41.314 Mills
2025 Budget Amendment2025 Budget2025 Mill Levy - 63.330 Mills
2024 Further Budget Amendment2024 Budget Amendment2024 Budget2024 Mill Levy - 50.00 Mills
The Transparency Notice for the District can be accessed on the Special District Association website:
