Bramming Farm Metro District No. 1

2025 ANNUAL REPORT
BRAMMING FARM METROPOLITAN DISTRICT NO. 1

As required by Section 32-1-207(3)(c), C.R.S. and Section VII of the Amended and Restated Service Plan for the Bramming Farm Metropolitan District No. 1 (the “District”), the following report of the activities of  the District from January 1, 2025 to December 31, 2025 is hereby submitted.

A.                Boundary changes made or proposed: There were no changes or proposed changes to the District’s boundaries as of December 31, 2025.

B.                 Intergovernmental Agreements entered into or terminated: The District was a party to the following intergovernmental agreement(s) as of December 31, 2025:

Intergovernmental Agreement between the City of Thornton (the “City”) and the District Regarding the Amended and Restated Service Plan for the District dated September 9, 2014.

C.                 Access information to obtain a copy of rules and regulations adopted: The District adopted Resolution No. 2011-08-06 Regarding the Imposition of System Development Fees on August 26, 2011. The District adopted Resolution No. 2012-10-03 Regarding the Imposition of a Maintenance Fee on October 12, 2012. Members of the public who wish to access a copy of the rules and regulations may request the information from the District’s General Counsel: McGeady Becher Cortese Williams, P.C. at info@specialdistrictlaw.com.

D.                Summary of litigation involving the District’s public improvements: The District was not involved in any litigation during 2025.

E.                 Status of the District’s construction of public improvements: Certain improvements were constructed by Centre Communities, Ltd. (“Developer”) in 2012 and 2013.  The Developer received reimbursement for certain verified construction costs in connection with such improvements from proceeds from the Series 2015 bond issuance.

• Richmond American Homes (“Builder”) completed construction of Bramming Farm Subdivision Filing No. 3, Phase 1 paving, signage, drainage, utility improvements, and landscape improvements in 2014 and 2015.

• Landscaping, irrigation and amenities in Tracts B through H of Filing No. 3, and in the roundabout at E. 126th Ave. and Hudson St., were conveyed to and accepted by the Bramming Farm Homeowners Association (“HOA”) on July 14, 2016.

• The District did not construct any public improvements in 2025.

F.                  Conveyances or dedications of facilities or improvements, constructed by the District, to the City: There were no new improvements accepted by the City in 2025.

G.                 Final assessed valuation of the District for the reporting year: $5,994,410.

H.                 Current year’s budget: A copy of the District’s 2026 budget is linked hereto.

I.                    Audited financial statements for the reporting year (or application for exemption from audit): The District’s 2025 Audit has not yet been completed as of the date of submittal of this report and will be provided as soon as it is available. 

J.                   Notice of any uncured events of default by the District, which continue beyond a ninety (90) day period, under any debt instrument: To our knowledge, there are no uncured events of default by the District which continue beyond a ninety (90) day period.

K.                Any inability of the District to pay its obligations as they come due, in accordance with the terms of such obligations, which continues beyond a ninety (90) day period: To our knowledge, the District has been able to pay its obligations as they come due.

*For accessibility purposes, this is a conforming alternate version of the 2025 Annual Report

2026 Mill Levy - 55.054 mills

2025 Mill Levy - 66.663 mills

The Transparency Notices for the Districts can be accessed on the Special District Association:

https://www.sdaco.org/lc/sda-transparency/notice/id/1601