CPN Facts

Canyon Hearings

2009-10-26T07:12:00.000-07:00

I was disappointed at some of the comments and commenters at the Canyons hearings.
Jeff Huff, I wish you had something substantive to offer instead of just going for a political slam (it missed the mark);
Tori Willis, I am not sure what your issue was, but you can offer thoughts without insulting people;
Solid Foundation folks - where were you guys.
I hope my comments will spur additional debate and comments.

Some questions on COP's and finances

2009-09-30T15:09:00.000-07:00

Certificates Of Participation (COP's) are a financing mechanism used by our metro district. Why COP's? I have been told by very knowledgeable insiders in the metro district circles it is because the district feels a need to have cash available in case something comes along and they cannot risk a vote of the people. So, the district, through their financing arm which are the same people as the board, has "borrowed" $24,660,000 by way of COP's - and only on the vote of 5 board members.

As of the end of August, the district had $27,260,283 cash available - in large part because of this borrowing. And part of that is over $7,500,000 - in the GENERAL fund - which means this came primarily from the 19 mills supposedly needed for operations and maintenance.

But why do we REALLY need $27,000,000 in the bank and what does that cost?

Well, the issuance cost for the 2009 COP's (what it cost to borrow the money - sort of like your mortgage loan origination fees and closing costs), totaled $489,000 - (if I read the financials correctly, that is ONLY for the most recent 2009 COP's). The interest costs an additional $6,500 per month.

That seems like a heck of a lot of money to put it in the bank with no specifics of a plan ora budget of what we will spend that much money on. Sort of like taking out a mortgage, borrowing the money, putting it in the bank, paying interest, and THEN saying "Honey, let's go look at houses"!

Or ..... as some "people in the know" have stated, the district needs to have as much debt as possible so in the event that the citizens try to dissolve the district, the debt structure will be so difficult and the amount so onerous that it will be impossible to come up with a dissolution plan.

But regardless of speculation, there are some questions we DESERVE an answer to:

1. If there is $7,500,000 in the general fund and almost $2,000,000 in the debt service fund, and it will only cost $6.7 million to completely pay off the series C bonds, and thereby reducing every ones overall tax bill by 10% - that is if you pay $5,000/year for your property taxes, this would save you $500 - why is this not happening?

2. What plan is in place that will require $27,000,000 this year? And why have we been paying interest on this borrowed money for about 6 months?

3. Regardless of whether there is a NEED to ask for voter approval for a $27,000,000 tax increase instead of a loophole, is it not in the best interest of the community to ASK for this?

4. And by the way, if the city can have financials at its meetings that include copies of every invoice, including the line item bills from their attorney, why can't we get that information from the district (Please).

We all support our community and want to do what is best. But let's have a dialog and consensus.

We need this water when?????

2009-09-30T14:20:00.000-07:00

Some people in the community have been taken to task because they have questioned the timing of the need for renewable water, as well as the costs. Costs will be later. Let's talk timing.

We are in a frenzy to buy and implement a renewable water plan NOW, because, we are told, we will not be able to meet "peak demands" in 2023, and it will take years to get off our ground water.

Some have been laughed at, been told they do not know what they are talking about, and other less kind remarks. It is what it is - for me - my skin is thick. But attacking the messenger is an old political ploy to get around addressing the MESSAGE. So here is the message some are trying to get answered.

If you review the attached, the South Metro Water Supply Authority is implementing a plan to cut groundwater IN HALF, and that goal is by 2030.

Our neighbor to the south, Castle Rock, in their water master plan state "The Town will likely be able to rely on local groundwater to meet demands through 2055".

Now I realize that we are not Castle Rock, but I believe we in CPN deserve to be told why it is that we have to have a plan implemented literally decades in advance of others.

I commend the metro district board, past and present, for looking our for the water needs of the community. They do a great service. But when citizens ask questions, please do not treat us like children, or like heretics - this is OUR community too.

Master Association

2009-09-30T14:18:00.000-07:00

So the master will be meeting on October 15th. Let's make a community effort to be there and make sure they lower our fees. Lagae Park is funded. Let's ratchet down the cost to live in our beautiful community. That's just me....

Mr. Transparency

2009-09-30T14:04:00.000-07:00

So I have subscribed to other peoples blogs. One of them is Jeff Huff's conservative politics.

Here's the question - maybe Jeff will reply....

I have posted 3 or so comments on his blog - but lo and behold - they never get published. What you get is this...

Click it on and you will see that it says that comments must be approved and that only comments that meet with the blog owners approval will be visible.

Well, so much for transparency. I guess it is OK to pontificate - just don't confuse me with the facts or difference of opinions.

I would like to think leaders would be open to opposing positions.

So, what's going on in CPN

2009-09-01T06:49:00.000-07:00

My name is Chip Coppola. Although I am starting this blog, it will belong to us all. There should be no censorship, like some other blogs who do not post ALL comments.

My background is that I have been a resident of Castle Pines North for about 11 years and have been involved in the Douglas County community for about 20 years. I (and many others) have become increasingly concerned that the Castle Pines Metro District, while probably well intentioned, if left unchecked, will mortgage our future, as well as what we have today, in its quest for renewable water.
A quest which I have found they are unwilling to opening debate.
A quest that is and will cost each homeowner an enormous amount of money.
And that they have become an organization that takes umbrage at even being questioned;
they are no longer acting as a representative democracy (individuals elected to represents the people) as we believed that they were elected to be. But rather, the board acts as an oligarchy (power resting with a small elite segment).
There needs to be a return to the premise that the metro district, as well as the City, and as well as the HOA's, exist for the benefit of the citizens, that they derive their power from the citizens, and that to a very large degree the funds that they have came from the citizens and will come from them in the future.
It is NOT "the metro districts money" as their recent posting states; and no one is trying to "Raid its (metro district) $28 million in funds".

IT IS NOT THEIR MONEY - IT IS OUR MONEY - THE HOMEOWNERS OF CASTLE PINES NORTH.

No one is trying to "Rob the district of its reserves". (Another of the metro district quotes).

People, these are OUR reserves - not THEIRS. Besides, as people will learn from this blog, the metro district has recently borrowed about $25,000,000 without a single vote of the people. They formed a new entity to get around having to go to the taxpayers and ask permission - and with that new entity - they borrowed this $25,000,000 - and they already had millions in the bank!

Understand that I am a supporter of acquiring renewable water. I have been on a metro district board. As an attorney, I have represented metro districts, including working on the bond restructuring of the CPNMD debt in the 1990's. I served on the Colorado Municipal Bond Advisory Council. I am not an expert, but I understand water issues and financing of water.

However, I do not believe that water is the ONLY issue. I have actually heard metro district board members and supporters use the statement "renewable water is not the most important issue - it is the ONLY issue." And when anyone challenges that assertion, they are heretics; they use scare tactics like saying the value of your house will go down, or we will run out of water. You are treated with disdain and ridiculed.

Well, I for one have had enough of the bullying and believe that the time has come to have a real, open, and honest dialog on water, the cost, the need and how decisions in Castle Pines North are made.

We should have independent board members. I believe that the metro district board should set policy and that staff should implement that policy. NOT that the STAFF establishes the policy and the board members become the mouth piece of the staff.

So, I will compile facts. I will post them. I will encourage others to do so.

I would like to establish some rules for this blog.

1. I strongly prefer FACTS versus mere opinion or speculation;

2. I MUCH prefer people not hide under the guise of anonymous;

3. I require that this be a civil discourse - people can differ in opinions and do so without fear.

So, there you have it. Check in from time to time or subscribe to the feed. I hope it is entertaining and informative. And we can pick on other issues as well. Like why am I still paying so much for master association dues.....

Chip