The documents provided on this and other pages of this site are for the convenience of website users. The documents are not all of the documents or instruments affecting the districts or ownership of property at Granby Ranch. Owners are responsible for obtaining and reviewing all documents of record and otherwise affecting his/her property, including without limitation, all documents relating to title, the neighborhood and the metropolitan districts. If you require a district document not available below you may request a copy by submitting a public records request to Robertson & Marchetti.
As explained in the Overview page, each District is organized pursuant to a service plan approved by the Town of Granby which sets forth the abilities and limitations of each District.
The Districts have entered into agreements with one another as well as the Town of Granby to set forth the relationships as outlined in the overview page of this site.
The Districts impose a one-time Capital Facilities Fee of $6,255 per lot which is used to partially fund debt service costs related to the financing of infrastructure. The fee is paid by each lot owner in conjunction with the issuance of a building permit.
The Granby Ranch community is being developed by Granby Realty Holdings, the "Developer", in conjunction with the Districts. Costs related to the installation of roads, water, sewer, and other public infrastructure are incurred by the HWMD capital projects fund, with such costs being initially funded by the Developer through loan advances to HWMD. As the various financing Districts are developed and the necessary tax base begins to grow, the financing Districts have and will continue to issue General Obligation Limited Tax Bonds to reimburse HWMD and HWMD will use the funds to repay the Developer loans. The Developer advanced funds to HWMD to cover shortfalls in operations of the HWMD General Fund which were refinanced in the 2010 GRMD bonds described below. Note: The Developer contributed funds (not to be repaid) for shortfalls in operations of the HWMD General Fund in 2010 and 2011. It is anticipated the Developer will also contribute funds in 2012 for shortfalls in operations of the HWMD General Fund.
GRMD has issued two separate sets of General Obligation Limited Tax Bonds, one in 2006 and a second in 2010. The 2006 Bonds were issued to institutional investors using the services of an underwriter and the 2010 Bonds were issued to the Developer to refinance the note owed to the Developer by HWMD. The primary funding sources pledged to these bonds is the "limited" taxing ability of the District, which is the funds that the District is able to generate through a mill levy and other pledged revenues, which are primarily the capital facilities fees collected by the District. The mill levy is based on the assessed valuation ratios set by the state and currently is approximately 54 mills. No property is pledged as collateral on either of the Bonds.
The District utilizes the services of the Developer and the Amenities for ongoing road and community operations of the HWMD General Fund as well as construction oversight for capital projects in the HWMD Capital Projects fund.