Jim Garcia Publishes Hidden Legal Metro Bond Documents for The Meadows Castle Rock CO, which outlines $1b in Property Taxes for a $57m Infrastructure Project.

CASTLE ROCK, CO, UNITED STATES, December 28, 2024 /EINPresswire.com/ -- Since 1991 tax payers in The Meadows of Castle Rock Colorado have been paying a 3.500% mill levy tax for a Metro Bond infrastructure repayment. In 2023 approximately $20m+ was collected in Metro Bond Property Taxes in The Meadows, most of which was paid to the Bond Holders. As property values increase, so will the collected amount. The original cost of $57m in the late 1980s will cost the tax payers over $1b to repay. For 35+ years, people have been asking, how can it cost that much money and take 100+ years to repay a road & sewer system construction project. The Town of Castle Rock doesn't know why. Douglas County doesn't know why. The members of the seven Metro Boards, who disburse the funds, don't know why. It seems that no one knows why or no one is willing to say why, but the tax collections have not stopped or slowed down, and the threat of losing your property for not paying continues.

In 1991, The Meadows metro project was originally designed to be paid off between 2006 & 2019. In 1993, the Developer and Bond Holder lobbied Castle Rock to reorganize the debt. Castle Rock agreed. A new Agreement was finalized and signed dated 10/1/1993 for the project to be paid off between 2019 & 2029. In December 1993 the Developer/Bond Holder, filed documents. However, these filings contradict their Agreement with the Town of Castle Rock. These filings modified the taxation from a 30-40 year maximum tax, which should have ended between 2019 & 2029, to a 100+ year minimum tax, which is estimated to end after 2090.

Metro Bond Taxes in The Meadows of Castle Rock CO are approximately 1/3 of the total property tax amount to all property owners in that sub division. Since the 1980’s residents have been paying the maximum tax rate allowed to be collected by law by the government to pay off this project. To date, taxpayers have paid approximately $400m to the Bond Holders. But that number is only an estimate, since no financial records are readily available between 1989 & 2008. The Bond Holder, Castle Rock Bonds LLC, is seeking another $600m in tax revenue before they are willing to discharge the debt.

After many years of research, in his spare time, and at his own expense, Jim Garcia was able to locate a comprehensive set of documents from numerous sources, categorize them, and organize them chronologically beginning from 1991 to 2024. He recently published them for anyone interested to read and download themselves.

Jim states: "Why has no one looked into this since its' inception? This has been going on since the early 1990s and no one has looked into it or tried to figure it out? This is nuts! It has been very difficult to obtain these documents. In 2024, I filed and paid for a Colorado Open Records Act (CORA) request with the Town of Castle Rock to obtain every document in their possession with this matter. The documents I received were limited and not complete. The Colorado Department of Local affairs (DOLA) website has some documents, but that source is limited as well. That site is limited to the minimum required legal filings, financial reports, and not much of anything else.  I was unable to obtain any financial records prior to 2009. After numerous requests, the law firm representing the Metro Boards provided many documents including the Service Plans, Bonds, Trust Filings, and Agreements.

This month I provided documents to the Town of Castle Rock, which they state they had not previously seen or reviewed. They didn't know why they didn't have the documents that I had found."

To read the full article with facts and access to all of the documents, Go to Jim's website and click the blog page - METRO BOND TAXES IN THE MEADOWS OF CASTLE ROCK, CO.

In November 2024, Jim volunteered and was appointed as a member of the Board for Metro District 1. Boards 2-7 have been controlled by the developer and Bond Holder since inception, which is why this is not getting resolved. This tax will never go away and will never get resolved while the recipient of the tax revenue is in control of sending your money to themselves. The residents must get on the board seats and band together to stop this tax. There are numerous controlling board positions available in 2025 for all boards. If the residents take control of the board seats, we can fix this problem together. Candidates must apply before the end of January and begin in May. Please volunteer.

Jim Garcia
720-385-4497
jimgarcia100@gmail.com

Jim Garcia Overview:

2023 - #1 Agent in Castle Rock (Total Transactions)
2023, 2022 - Top .5% of all Agents in Colorado
2023, 2022 - Top 1.5% of All Agents & Teams Nationwide
2023, 2022 - Voted as one of the “Best Real Estate Agents in Colorado"
2023, 2022 - Voted as one of the “Best Real Estate Agents in America"

Master Certified Negotiation Expert in Real Estate

Jim Garcia and his family have lived in The Meadows since 2006. After 25+ years as a CEO/COO of various companies, mergers & acquisitions, and residential construction, Jim is a top Real Estate Agent in Castle Rock Colorado specializing in The Meadows Castle Rock Homes For Sale & Real Estate. Jim is among the Top 1.5% of All Agents & Teams Nationwide and top .5% of all Colorado Real Estate Agents.

Jim has been a licensed Real Estate Agent since March 2007.  With over 250 online 5 star reviews, Jim brings expertise in construction, contract negotiations, intricate real estate deals, fix & flips/holds, 1031 exchanges, short sales, foreclosures, and investment properties to help his clients achieve their best results. If you have questions or want more information about Douglas County CO Real Estate, Castle Rock real estate, or other areas like Lone Tree CO Homes For Sale & Real Estate in Douglas and Elbert Counties, Jim can help.

Jim Garcia
Jim Garcia Castle Rock CO Real Estate Agent
+1 720-385-4497
jim@jimgarciahomes.com

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