Cornerstar Metropolitan District

The regular agenda for the meeting includes several key items for discussion and potential action. Topics encompass the declaration of quorum, confirmation of conflict filings, and discussion regarding vacant Director positions, including the publication of a Notice of Vacancy and potential appointments. Public comment will be taken. The consent agenda covers approval of minutes from the January 23, 2026 Special Meeting, approval of a Resolution Designating a Meeting Notice Posting Location, and ratification of an Independent Contractor Agreement with Connection Group for a new Boundary Map. Financial matters involve consideration of claims/financials, an update on operations fee payments, and consideration of an Auditor Engagement Letter. Property management discussions will cover the monthly report, status of proposals for arborist engagement, lighting issues at the shopping center and Loop Road (including pole replacement and LED upgrades), the date of the March District Property Inspection, and review of a proposal for asphalt work. Other property items include consideration of a proposal for infrared patching on the Loop Road and updates/approval related to a detention pond cleaning. Director matters involve a development activity update. Legal matters focus on discussing fee increases for the District's website, approval of an Independent Contractor Agreement with DLC Management Corporation for District Management Services, review of the new Boundary Map draft, and an update on the ARI Authority Establishment Agreement.

The financial overview includes assets, liabilities, and deferred inflows, detailing cash and investments, receivables, and capital assets. It covers governmental activities, including general government, public works, and interest on long-term debt. Key revenues are property taxes, specific ownership taxes, and interest income. The report also discusses fund balances, long-term obligations, and agreements, such as the Aurora Regional Improvement Authority Establishment Agreement. Additionally, it addresses risk management, tax, spending, and debt limitations.

The Board of Directors of Cornerstar Metropolitan District held a meeting and a public hearing regarding the 2025 amended budget. The resolution was adopted by affirmative vote of a majority of the Board. The adopted budget for fiscal year 2025 was amended due to additional costs that could not have been reasonably anticipated at the time of adoption of the budget, requiring the expenditure of funds in excess of those appropriated. Funds are available for such expenditure. The adopted budget for fiscal year 2025 was amended as follows: General Fund $798,000.

The annual budget for the Cornerstar Metropolitan District includes multiple funds such as the General Fund, Special Revenue Fund, and Debt Service Funds. Key components of the budget include property taxes, specific ownership taxes, and interest income. Expenditures cover general administration, debt service, and various maintenance activities. The budget also outlines significant assumptions related to property tax calculations, revenue estimations, and debt obligations, including the 2017 General Obligation Refunding Bonds.

The annual report includes information on boundary changes, intergovernmental agreements, rules and regulations, litigation involving public improvements, status of construction, facilities conveyed to the city, assessed valuation, the current year's budget, audited financial statements, uncured defaults, and the district's ability to pay obligations. The district is in the process of asphalt road repairs as well as sidewalk and concrete repairs.