Redtail Ridge Metropolitan District District Documents
2025 ANNUAL REPORT
REDTAIL RIDGE METROPOLITAN DISTRICT (F/K/A REDTAIL RIDGE METROPOLITAN DISTRICT NO. 3)
As required by Section 32-1-207(3)(c), C.R.S. and Section VIII of the Amended and Restated Service Plan for Redtail Ridge Metropolitan District (f/k/a Redtail Ridge Metropolitan District No. 3) (the “District”) approved by the City of Louisville, Colorado (the “City”) on August 20, 2024, the following report of the activities of the District’s (the “District”) from January 1, 2025 to December 31, 2025 (the “Report Year”) is hereby submitted.
A. Boundary changes made: The District included approximately 39.94 acres of land into its boundaries by virtue of an Order for Inclusion, granted by the Boulder County District Court on February 10, 2025 and recorded with the Boulder County Clerk and Recorder on February 13, 2025 at Reception No.: 04076194.
B. Intergovernmental Agreements entered into or terminated: The District is a party to the following Intergovernmental Agreements:
· Intergovernmental Agreement between the City of Louisville and the District (First Revision).
· Memorandum of Understanding between the District, Redtail Ridge Metropolitan No. 1, Redtail Ridge Metropolitan District No. 2 and Redtail Ridge Metropolitan District No. 4, dated September 13, 2024.
· Agreement by and between the Northwest Parkway Public Highway Authority, Northwest Parkway LLC and the District Regarding Capital Improvements Planning, Construction, and Maintenance, dated September 19, 2024.
· Agreement Regarding License to Modify Goodhue Ditch between Goodhue Ditch and Reservoir Company, Redtail Ridge Portfolio, LLC and the District, dated December 11, 2024 and recorded with the Boulder County Clerk and Recorder on December 23, 2024 at Reception No. 04071223.
· Operation and Maintenance Agreement between the District, Redtail Ridge Portfolio, LLC and the City, dated December 11, 2024 and recorded with the Boulder County Clerk and Recorder on December 24, 2024 at Reception No. 04071344.
· Redtail Ridge Subdivision Improvements and Development Agreement between the City, Redtail Ridge Portfolio, LLC and the District, dated December 11, 2024 and recorded with the Boulder County Clerk and Recorder on December 24, 2024 at Reception No. 04071341.
· Subdivision Improvement Guarantee Escrow Agreement between the District, Redtail Ridge Portfolio, LLC, the City and BOKF, NA.
C. Access information to obtain a copy of rules and regulations adopted: The District does not currently have any rules and regulations and there were none proposed during 2025. The District’s website is: redtailridgemetrodistricts.specialdistrict.org/.
D. Summary of litigation involving the District’s public improvements: The District was not involved in any litigation in 2025.
E. Status of the District’s construction of public improvements: During the Report Year, the District undertook construction related to streets, including grading and paving.
F. Conveyances or dedications of facilities or improvements, constructed by the District, to the City: There have been no facilities or improvements dedicated to or accepted by the City as of December 31, 2025.
G. Final assessed valuation of the District for the reporting year: $907
H. Current year’s budget: A copy of the District’s 2026 budget is linked below.
2026 Budget (website) - signed - RTRMD.pdfI. Audited financial statements for the reporting year (or application for exemption from audit): A copy of the District’s 2025 Audit is linked below.
2025 Audit - as filed with OSA - RTRMD 4916-4607-9682 1 .pdfJ. 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.
L. Any alteration or revision of the proposed schedule of Debt issuance set forth in the Financial Plan: The District did not alter or revise the proposed schedule of Debt issuance in 2025.
District issued General Obligation Limited Tax Capital Appreciation Turbo Bonds, Series 2025 Issued in the Original Principal Amount of $87,799,973.85 and Appreciating to a Principal Amount of $150,165,000 on February 13, 2025.
M. A list of Board of Directors with names, phone numbers, addresses, date elected, conflicts of interests, and disclosure of any felonies:
Donald “Don” Guerra
Phone: 303-905-3496
Address: Land Asset Strategies of Colorado, LLC
619 12th Street, #31
Golden, CO 80402
Elected: May 6, 2025
Conflicts: Partner of Land Asset Strategies of Colorado, LLC, which has a contract with and provides services to Land Asset Strategies, LLC, which has a contract to perform services to Redtail Ridge Portfolio, LLC, which owns property within the District. Redtail Ridge Portfolio, LLC has entered into agreements with Sterling Bay Property Management, LLC, Sterling Bay Development Management, LLC and SBDM RR, LLC, and all such entities are affiliates of Sterling Bay, LLC, the developer of the property within the District. In addition, the Districts anticipate entering into or have entered into a contract with SBDM RR, LLC.
Felonies: None
Kathryn “Kat” Kendall
Phone: 720-721-1425
Address: 400 W. South Boulder Rd.
Ste. 2500
Lafayette, CO 80026
Elected: May 3, 2022
Conflicts: Employee of Jones Lang Lasalle Americas Inc., which owns 50.1% of Sterling Bay Property Management, LLC. Sterling Bay Property Management, LLC, Sterling Bay Development Management, LLC, SBDM RR, LLC and Redtail Ridge Portfolio, LLC are all affiliates of Sterling Bay, LLC, the developer of the property within the District. In addition, the District will be entering into various contracts and funding agreements with Redtail Ridge Portfolio, LLC, which owns the property within the District. The District also anticipates entering into or already has entered into contract(s) with SBDM RR, LLC.
Felonies: None
David Saad
Phone: 312-935-1489
Address: CBRE
1225 17th Street, Suite 3200
Denver, CO 80202
Elected: May 6, 2025
Conflicts: Employed as an Executive Vice President of CBRE, Inc., which provides real estate brokerage services to Sterling Bay, LLC. Sterling Bay, LLC, through its affiliates, Sterling Bay Property Management, LLC, Sterling Bay Development Management, LLC, SBDM RR, LLC and Redtail Ridge Portfolio, LLC have entered into agreements with the District. In addition, the District has or will be entering into various contracts and funding agreements with Redtail Ridge Portfolio, LLC, which owns property within the boundaries of the District.
Felonies: None
All other Board positions are vacant.
*For accessibility purposes, references to exhibits have been removed and links to exhibit documents have been added. For a copy of the Annual Report with exhibits as filed with the jurisdiction, please contact info@specialdistrictlaw.com.
For accessibility purposes, this is an alternate conforming version of the 2025 Annual Report.
The Transparency Notices for the Districts can be accessed on the Special District Association:
https://www.sdaco.org/lc/sda-transparency/notice/id/3299