Click here to visit the official Woodmen Heights Metropolitan Districts 1, 2, and 3 website!
The Issuer is a quasi-municipal corporation and a political subdivision of the State of Colorado (the “State”), located within the City of Colorado Springs, Colorado (the “City”), in El Paso County. See, generally, “VICINITY MAP” and Appendix B – “MAP OF DISTRICTS’ BOUNDARIES.”
The Issuer, together with Woodmen Heights Metropolitan District No. 2 (the “Residential District”) and Woodmen Heights Metropolitan District No. 3 (the “Commercial District” and, together with the Residential District, the “Financing Districts”) were formed pursuant to Colorado Revised Statutes § 32- 1-101 et seq., as amended (the “Special District Act”), by order of the District Court in and for the Fourth Judicial District, El Paso County, Colorado in December 2004, for the purpose of assisting, in a cooperative manner, in the financing and construction of infrastructure to serve a mixed-use development consisting of commercial and residential properties (as more particularly described herein, the “Development”). The Issuer and the Financing Districts are collectively referred to herein as the “Districts.” Click on the link to view the Service Area Map.
Pursuant to the Consolidated Service Plan for Woodmen Heights Metropolitan District Nos. 1, 2 & 3, dated July 29, 2004, as amended (the “Service Plan”), and as a result of certain inclusions occurring subsequent to the initial formation of the Districts, the boundaries of the Issuer, the Residential District and the Commercial District currently cover areas of approximately 0.068 acres, 398.58 acres and 382.93, respectively. Such areas do not include certain of the planned development which is yet to be included in the Financing Districts, pending in some cases annexation to the City, as more particularly described in “THE DEVELOPMENT – The Development – Annexations, Entitlements, and Public Approvals.”
Assuming that all of the planned Development, as described herein, is included in the Financing Districts, their resulting approximate areas will be 599.91 acres with respect to the Residential District and 468.36 acres with respect to the Commercial District. The Residential District consists of properties anticipated to be zoned for residential development, whereas the Commercial District consists of properties anticipated to be zoned for commercial development. The property within the Districts is presently owned or under contract for purchase by various Land Owners.