District Responsibilities - Overview
Your exclusive membership is automatic with the purchase of your Solterra home. Membership dues provide the necessary resources to maintain Solterra's exclusive facilities for the enjoyment of all Solterra residents.
Fossil Ridge Metropolitan District (Fossil Ridge) was created in 2007 to finance certain public infrastructure improvements, which result in a tax liability for each property owner in Solterra. Since Solterra is a large project, a substantial amount of public infrastructure and services are necessary to support the development. As a governmental entity, the District has the power to impose property taxes and other fees and charges, but is also governed by a board of directors.
The District is responsible for constructing major public utilities and roads within the Solterra boundaries. It is also responsible for operations and maintenance of all common area landscaping and parks, the clubhouse, and pool.
There are two budgets that Fossil Ridge controls: the capital budget and the operation budget. The capital budget is for the design and construction of the major roadways, parks and open spaces, trails, major storm sewer, major sanitary sewer and major water lines. Future roads include expanding of Alameda, Wesley, McIntyre and north half of Yale. The side roads and smaller utility main lines that service individual neighborhoods are not funded by the capital budget and are usually paid for by the developers and builders as a costs of conducting business. The operation budget is for maintaining items with the Metro District that are not turned over to the City of Lakewood and all associated costs. These items are maintained in perpetuity by the Metro District. The major asset here is the landscaping throughout the community, as well as the Retreat and pool. Having control over these items helps keep the property at a higher value than areas that do not have similar districts by keeping everything aesthetically pleasing.
Fossil Ridge Metropolitan District (Fossil Ridge) was created in 2007 to finance certain public infrastructure improvements, which result in a tax liability for each property owner in Solterra. Since Solterra is a large project, a substantial amount of public infrastructure and services are necessary to support the development. As a governmental entity, the District has the power to impose property taxes and other fees and charges, but is also governed by a board of directors.
The District is responsible for constructing major public utilities and roads within the Solterra boundaries. It is also responsible for operations and maintenance of all common area landscaping and parks, the clubhouse, and pool.
There are two budgets that Fossil Ridge controls: the capital budget and the operation budget. The capital budget is for the design and construction of the major roadways, parks and open spaces, trails, major storm sewer, major sanitary sewer and major water lines. Future roads include expanding of Alameda, Wesley, McIntyre and north half of Yale. The side roads and smaller utility main lines that service individual neighborhoods are not funded by the capital budget and are usually paid for by the developers and builders as a costs of conducting business. The operation budget is for maintaining items with the Metro District that are not turned over to the City of Lakewood and all associated costs. These items are maintained in perpetuity by the Metro District. The major asset here is the landscaping throughout the community, as well as the Retreat and pool. Having control over these items helps keep the property at a higher value than areas that do not have similar districts by keeping everything aesthetically pleasing.
Fossil Ridge Metropolitan Districts 1, 2 & 3
2022 Business/Community Plan
(“District” or “Solterra”)
2022 Business/Community Plan
(“District” or “Solterra”)
Our Mission
The Boards of Fossil Ridge Metropolitan Districts (“the Boards”), on behalf of and with the input of the residents, exist to guide the community’s priorities, projects, and activities in accordance with the founding documents, i.e., the Second Amended and Restated Service Plan.
As part of its responsibility, the Boards oversee the financial affairs of the District in a prudent, cost-effective, fair, timely, and transparent manner in compliance with statutory requirements and existing agreements.
Our Vision
We envision a community that offers an inspiring lifestyle and quality of life while preserving property values. We will enhance the character of Solterra, the quality of life to its residents, the feeling of community and inform and represent its members.
The Boards will strive to make Solterra a highly desirable community in the Denver area by maintaining high standards and fairness through a community resident Boards committed to efficient, sustainable, and cost-effective operations and maintenance.
The Boards will lead community efforts to:
The Boards of Fossil Ridge Metropolitan Districts (“the Boards”), on behalf of and with the input of the residents, exist to guide the community’s priorities, projects, and activities in accordance with the founding documents, i.e., the Second Amended and Restated Service Plan.
As part of its responsibility, the Boards oversee the financial affairs of the District in a prudent, cost-effective, fair, timely, and transparent manner in compliance with statutory requirements and existing agreements.
Our Vision
We envision a community that offers an inspiring lifestyle and quality of life while preserving property values. We will enhance the character of Solterra, the quality of life to its residents, the feeling of community and inform and represent its members.
The Boards will strive to make Solterra a highly desirable community in the Denver area by maintaining high standards and fairness through a community resident Boards committed to efficient, sustainable, and cost-effective operations and maintenance.
The Boards will lead community efforts to:
- promote and protect the quality of life, safety, and well-being of its residents,
- enhance the character of the Solterra neighborhoods with responsive service and support in the management of district assets, and
- encourage community involvement and collaboration.
The District was organized October 10, 2006, as a quasi-municipal corporation and political subdivision of the State of Colorado pursuant to the Colorado Special District Act. All three districts are governed by the same Service Plan (as amended by the Second Amended and Restated Service Plan approved by the City of Lakewood on August 27, 2007), which provides that District No. 1 is the “Operating District” and District Nos. 2 and 3 are the “Taxing Districts”. The Taxing Districts provide funding to the Operating District for the construction, operation, and maintenance of various public improvements. The Operating District is expected to manage such construction, operations, and maintenance. The District's primary revenues are property taxes for debt service payments and Homeowner Assessments for operations and maintenance. The District is governed by an elected Board of Directors (an individual Board for each of the three Districts).
As a governmental entity, the District has the power to impose property taxes, as well as other fees and charges as governed by a board of directors.
As a governmental entity, the District has the power to impose property taxes, as well as other fees and charges as governed by a board of directors.
2022 Plan
The 2022 Business/Community Plan follows the founding documents, i.e., the Second Amended and Restated Service Plan, and is focused on continuing the well-being and fairness of all residents, making Solterra a highly desirable community within the Denver area, while staying within prudent financial limits. The goals for 2022 include:
1. Governance (Board specific activities)
a. Define and use “dashboards” to measure success of 2022 Plan (reviewing status of the Plan 2 times a year).
b. Semiannual reporting to residents on the Status of the Community.
c. Board meetings for 2022 has 7 prescheduled meetings.
d. Conduct a community outreach program to encourage resident participation and solicit input.
e. Hold community elections in 2022.
f. Populate a committee, define the role and responsibilities of the committee, to look at and consider feasibility of consolidating the 3 Districts.
g. Respond to resident comments and questions raised at the board meeting.
h. Oversee activities of all FRMD’s Committees.
2. Acceptance Procedures for New Filings
One of the Board’s key challenges and responsibilities is acquisition of filings from the developer, resulting in additional expense of the Districts. Of the 21 filings that make up Solterra, only Filings 1-12 have been accepted. The Reimbursement and Acquisition Agreement provides a step-by-step approval process for Board acceptance of the (a) filings from the developer. The goal is to continues to work with Brookfield to obtain acceptance.
3. Tributary and Water Feature
The Solterra tributary moves surface water through the community. It is the primary drainage conduit for the storm water flowing from homes west of Indiana street. It consists of 9 water quality detention ponds, a circulating water feature and a large retention pond. This asset has not been accepted by the District and the District is working with the developer to require the following improvements prior to final acceptance:
a. Liner for the water feature,
b. Repair erosion damage in the main channel,
c. Determine whether the water feature can be put back in operation and whether the B2 Retention Pond can be retained in its current configuration,
d. Manage the algae & cattails in the water feature, tributary and B2 detention pond, and
e. Have in place an approved augmentation plan.
Although resolution is at the forefront of the board’s goals, the timing for resolving these objectives is out-of-the-hands of the District, as action needs to be made by the developer.
4. Committees
Each committee follows their own unique mission statement.
A. Financial Committee
Mission: The Finance Committee is established for the purpose of reviewing various financial matters concerning the Districts, including budgets, audits and financing matters and to further make recommendations to the Boards regarding such matters. The focus for 2022 will be:
a. Finalized 2022 Budget and Plan.
b. Spread 2022 final budget by quarters.
c. Quarterly, “actual to budget reporting” within 30 days of the end of the quarter.
d. Oversee 12/31/2021 independent audit.
e. With the assistance of CRS track bond compliance requirements.
f. Explore the formation of a committee or similar oversight of common grounds in the community including coordination between CRS, District Engineer, Finance, Landscaping, and Pool/Retreat committees.
g. Review current financial guidelines regarding budget management, purchase authority, payment authority and update as needed.
h. Develop list of Enterprise Risk Management (ERM) attributes, document and review with CRS and the auditors.
i. Oversee the 2023 budget process.
j. Using the 2019 Reserve Study and working with the Retreat & Pool Committee, the District Engineer, and the Community Manager, project out the capital and repair needs for the next 5 years.
k. Develop 3-5-year Strategic projection of revenue and expenses.
l. Evaluate how to move more of the analytical work to CRS.
m. Assist the Boards, as needed, with development of the Private Access Area Policy.
B. Pool and Retreat Committee
Mission: The Retreat/Pool Committee is established for the purpose of working on strategies to provide facilities for residents of Solterra, providing sustainable solutions that meet the needs of today's residents while planning for future growth, ensuring fair and equitable use of the facilities to all members of the Solterra community, and to ensure that the Retreat and pool are available for the enjoyment of the homeowners, with safety, security, health, and comfort of the community being the primary objective. The focus for 2022 will be:
a. Work with CRS for the running of the Retreat & Pool as far as policies, hours, rentals, etc., and for the enjoyment of all residents.
b. Work with CRS & Perfect Pools to make sure the pool facilities are being maintained as needed.
c. Retreat interior - replace/repair furniture (community assets) as needed and within 2022 budget.
d. Replace pool/patio furniture (and community assets) as needed and within 2022 budget.
e. Make sure maintenance of the interior and exterior of the Retreat & Pool is being completed as needed, working with CRS.
C. Social Committee
Mission: The Social Committee is established for the purpose of assessing the need for appropriate community and social events, necessary funding therefor, and to make recommendations to the Boards regarding community and social events.
Such opportunities help homeowners get to know each other, so that they can feel as part of the community. The work put in by the social liaisons to generate a more active, involved, and friendly community, creates a greater sense of unity and understanding among the homeowners. The focus for 2022 will be:
a. Easter – likely April 3rd, 2022 (Saturday before)
b. Cinco de Mayo – May 5th
c. Food Truck Gathering – Date TBD
d. 4th of July
e. Rocktoberfest – date TBD
f. Holiday Party (Santa & Mrs. Claus) – December date TBD
Opportunities held by the social committee may evolve in 2022 creating unique, inexpensive ways to gather and enjoy the beautiful community center of the Retreat.
D. Landscape Committee
Mission: The Landscaping Committee is established for the purpose of reviewing all common areas within the Districts, and to further make recommendations regarding the care and maintenance of the common areas within the Districts. The focus for 2022 will be the accepted filings of 1-12:
a. Spring: Replace evergreens identified in 2021 and spring 2022. Repair beds identified in the previous year (2021) for repair.
b. Summer: Identify deciduous trees for replacement or remediation in the fall. Identify rock beds to be remediated in the spring of 2022.
c. Fall: Replace or remediate deciduous trees identified in the summer. Identify evergreen trees for replacement in the spring of 2022.
Landscape is a major expense of the community. The Landscape committee is primarily focused on the upkeep of the trees/plant life and will be making many replacements in 2022. Along with replacements and the beautification of many rock and plant beds will be addressed with the understanding and focus of the unique microclimate in Solterra.
5. Budget(s)
Since there are three Districts, each District has its own set of budgets. For 2022 there are four budgets that FMRD #1 controls: the operational budget (general fund), the capital budget (fund), the reserve study budget (fund), and a special revenue budget (fund). The operational budget’s source of revenue is primarily from homeowner assessments and transfers from Districts #2 and #3. Expenditures are incurred for maintaining items within the Metro District that are not turned over to the City of Lakewood and all associated costs of maintaining the community. These items are maintained in perpetuity by the Metro District. A major asset in the district is the landscaping throughout the community, as well as the Retreat and pool. Having control over these assets helps keep the property at a high value and aesthetically pleasing.
The capital (fund) budget is for the capital improvements to the community. The source of revenue is primarily builder advances and developments fees on new houses. For 2022 the main cost will be the replacement of trees and shrubs, fees to the District Engineer, and various other capital expenditures.
The reserve study (fund) budget is primarily made up of Capital Replacement items identified in the Reserve Study. For 2022 the main source of revenue is a transfer from the general fund and expenditures relate to the pool, retreat buildings and common areas.
The special revenue (fund) budget is for the maintenance fee areas (MFA). Revenues are the collection of fees and expenditures relate to cost incurred in the specific areas.
FRMD #2 has an operational budget and a debt service budget. Since FRMD #2 is a taxing district, its purpose is to collect property taxes and Specific Ownership Taxes (“SOT”), which are transferred to either the FRMD #1 operational budget or to the FRMD #3 debt service budget.
FRMD #3 holds all the bond debt. FRMD #3 has an operational budget and a debt service budget. FRMD #3 is also a taxing district, so its purpose is to collect property and SOT taxes. Some tax revenue is transferred to the FRMD #1 operational budget but most of the tax revenue is retained in the FRMD #3 debt service budget. The 2020 Bonds (General Obligation Limited Tax Bonds) were issued by FRMD #3.
The 2022 budgeting process started in mid-June. Budget work sessions were held in August and September (available to all FRMD residents). The draft budget was made available on October 14, 2022; and the FRMD Boards approved the 2022 budgets at its regularly scheduled meeting on December 6, 2021.
Assessed property values for the community (for 2022) increase by 10.78%, but the board was able to minimize the impact to homeowners by reducing the Mill Levy from 39.0 to 35.5, 2021 and 2022, respectively.
The 2022 Business/Community Plan follows the founding documents, i.e., the Second Amended and Restated Service Plan, and is focused on continuing the well-being and fairness of all residents, making Solterra a highly desirable community within the Denver area, while staying within prudent financial limits. The goals for 2022 include:
1. Governance (Board specific activities)
a. Define and use “dashboards” to measure success of 2022 Plan (reviewing status of the Plan 2 times a year).
b. Semiannual reporting to residents on the Status of the Community.
c. Board meetings for 2022 has 7 prescheduled meetings.
d. Conduct a community outreach program to encourage resident participation and solicit input.
e. Hold community elections in 2022.
f. Populate a committee, define the role and responsibilities of the committee, to look at and consider feasibility of consolidating the 3 Districts.
g. Respond to resident comments and questions raised at the board meeting.
h. Oversee activities of all FRMD’s Committees.
2. Acceptance Procedures for New Filings
One of the Board’s key challenges and responsibilities is acquisition of filings from the developer, resulting in additional expense of the Districts. Of the 21 filings that make up Solterra, only Filings 1-12 have been accepted. The Reimbursement and Acquisition Agreement provides a step-by-step approval process for Board acceptance of the (a) filings from the developer. The goal is to continues to work with Brookfield to obtain acceptance.
3. Tributary and Water Feature
The Solterra tributary moves surface water through the community. It is the primary drainage conduit for the storm water flowing from homes west of Indiana street. It consists of 9 water quality detention ponds, a circulating water feature and a large retention pond. This asset has not been accepted by the District and the District is working with the developer to require the following improvements prior to final acceptance:
a. Liner for the water feature,
b. Repair erosion damage in the main channel,
c. Determine whether the water feature can be put back in operation and whether the B2 Retention Pond can be retained in its current configuration,
d. Manage the algae & cattails in the water feature, tributary and B2 detention pond, and
e. Have in place an approved augmentation plan.
Although resolution is at the forefront of the board’s goals, the timing for resolving these objectives is out-of-the-hands of the District, as action needs to be made by the developer.
4. Committees
Each committee follows their own unique mission statement.
A. Financial Committee
Mission: The Finance Committee is established for the purpose of reviewing various financial matters concerning the Districts, including budgets, audits and financing matters and to further make recommendations to the Boards regarding such matters. The focus for 2022 will be:
a. Finalized 2022 Budget and Plan.
b. Spread 2022 final budget by quarters.
c. Quarterly, “actual to budget reporting” within 30 days of the end of the quarter.
d. Oversee 12/31/2021 independent audit.
e. With the assistance of CRS track bond compliance requirements.
f. Explore the formation of a committee or similar oversight of common grounds in the community including coordination between CRS, District Engineer, Finance, Landscaping, and Pool/Retreat committees.
g. Review current financial guidelines regarding budget management, purchase authority, payment authority and update as needed.
h. Develop list of Enterprise Risk Management (ERM) attributes, document and review with CRS and the auditors.
i. Oversee the 2023 budget process.
j. Using the 2019 Reserve Study and working with the Retreat & Pool Committee, the District Engineer, and the Community Manager, project out the capital and repair needs for the next 5 years.
k. Develop 3-5-year Strategic projection of revenue and expenses.
l. Evaluate how to move more of the analytical work to CRS.
m. Assist the Boards, as needed, with development of the Private Access Area Policy.
B. Pool and Retreat Committee
Mission: The Retreat/Pool Committee is established for the purpose of working on strategies to provide facilities for residents of Solterra, providing sustainable solutions that meet the needs of today's residents while planning for future growth, ensuring fair and equitable use of the facilities to all members of the Solterra community, and to ensure that the Retreat and pool are available for the enjoyment of the homeowners, with safety, security, health, and comfort of the community being the primary objective. The focus for 2022 will be:
a. Work with CRS for the running of the Retreat & Pool as far as policies, hours, rentals, etc., and for the enjoyment of all residents.
b. Work with CRS & Perfect Pools to make sure the pool facilities are being maintained as needed.
c. Retreat interior - replace/repair furniture (community assets) as needed and within 2022 budget.
d. Replace pool/patio furniture (and community assets) as needed and within 2022 budget.
e. Make sure maintenance of the interior and exterior of the Retreat & Pool is being completed as needed, working with CRS.
C. Social Committee
Mission: The Social Committee is established for the purpose of assessing the need for appropriate community and social events, necessary funding therefor, and to make recommendations to the Boards regarding community and social events.
Such opportunities help homeowners get to know each other, so that they can feel as part of the community. The work put in by the social liaisons to generate a more active, involved, and friendly community, creates a greater sense of unity and understanding among the homeowners. The focus for 2022 will be:
a. Easter – likely April 3rd, 2022 (Saturday before)
b. Cinco de Mayo – May 5th
c. Food Truck Gathering – Date TBD
d. 4th of July
e. Rocktoberfest – date TBD
f. Holiday Party (Santa & Mrs. Claus) – December date TBD
Opportunities held by the social committee may evolve in 2022 creating unique, inexpensive ways to gather and enjoy the beautiful community center of the Retreat.
D. Landscape Committee
Mission: The Landscaping Committee is established for the purpose of reviewing all common areas within the Districts, and to further make recommendations regarding the care and maintenance of the common areas within the Districts. The focus for 2022 will be the accepted filings of 1-12:
a. Spring: Replace evergreens identified in 2021 and spring 2022. Repair beds identified in the previous year (2021) for repair.
b. Summer: Identify deciduous trees for replacement or remediation in the fall. Identify rock beds to be remediated in the spring of 2022.
c. Fall: Replace or remediate deciduous trees identified in the summer. Identify evergreen trees for replacement in the spring of 2022.
Landscape is a major expense of the community. The Landscape committee is primarily focused on the upkeep of the trees/plant life and will be making many replacements in 2022. Along with replacements and the beautification of many rock and plant beds will be addressed with the understanding and focus of the unique microclimate in Solterra.
5. Budget(s)
Since there are three Districts, each District has its own set of budgets. For 2022 there are four budgets that FMRD #1 controls: the operational budget (general fund), the capital budget (fund), the reserve study budget (fund), and a special revenue budget (fund). The operational budget’s source of revenue is primarily from homeowner assessments and transfers from Districts #2 and #3. Expenditures are incurred for maintaining items within the Metro District that are not turned over to the City of Lakewood and all associated costs of maintaining the community. These items are maintained in perpetuity by the Metro District. A major asset in the district is the landscaping throughout the community, as well as the Retreat and pool. Having control over these assets helps keep the property at a high value and aesthetically pleasing.
The capital (fund) budget is for the capital improvements to the community. The source of revenue is primarily builder advances and developments fees on new houses. For 2022 the main cost will be the replacement of trees and shrubs, fees to the District Engineer, and various other capital expenditures.
The reserve study (fund) budget is primarily made up of Capital Replacement items identified in the Reserve Study. For 2022 the main source of revenue is a transfer from the general fund and expenditures relate to the pool, retreat buildings and common areas.
The special revenue (fund) budget is for the maintenance fee areas (MFA). Revenues are the collection of fees and expenditures relate to cost incurred in the specific areas.
FRMD #2 has an operational budget and a debt service budget. Since FRMD #2 is a taxing district, its purpose is to collect property taxes and Specific Ownership Taxes (“SOT”), which are transferred to either the FRMD #1 operational budget or to the FRMD #3 debt service budget.
FRMD #3 holds all the bond debt. FRMD #3 has an operational budget and a debt service budget. FRMD #3 is also a taxing district, so its purpose is to collect property and SOT taxes. Some tax revenue is transferred to the FRMD #1 operational budget but most of the tax revenue is retained in the FRMD #3 debt service budget. The 2020 Bonds (General Obligation Limited Tax Bonds) were issued by FRMD #3.
The 2022 budgeting process started in mid-June. Budget work sessions were held in August and September (available to all FRMD residents). The draft budget was made available on October 14, 2022; and the FRMD Boards approved the 2022 budgets at its regularly scheduled meeting on December 6, 2021.
Assessed property values for the community (for 2022) increase by 10.78%, but the board was able to minimize the impact to homeowners by reducing the Mill Levy from 39.0 to 35.5, 2021 and 2022, respectively.