Redtail Ridge Metropolitan District No. 1 District Documents
2024 ANNUAL REPORT
REDTAIL RIDGE METROPOLITAN DISTRICT NO. 1
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 No. 1 (“District”) approved by the City of Louisville, Colorado (“City”) on August 20, 2024, the following report of the activities of the District’s (the “District”) from January 1, 2024 to December 31, 2024 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 September 17, 2024 and recorded with the Boulder County Clerk and Recorder on September 17, 2024 at Reception No.: 04060495.
B. Intergovernmental Agreements entered into or terminated: The District entered into the following Intergovernmental Agreement(s) in 2024:
· Intergovernmental Agreement between the City of Louisville and the District (First Revision).
· Memorandum of Understanding between the District, Redtail Ridge Metropolitan No. 2, Redtail Ridge Metropolitan District (f/k/a Redtail Ridge Metropolitan District No. 3) and Redtail Ridge Metropolitan District No. 4 dated September 13, 2024.
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 2024. The District’s website is: https://redtailridgemetrodistricts.specialdistrict.org/.
D. Summary of litigation involving the District’s public improvements: The District was not involved in any litigation in 2024.
E. Status of the District’s construction of public improvements: The District did not construct any public improvements in 2024.
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, 2024.
G. Final assessed valuation of the District for the reporting year: $26
H. Current year’s budget:
2025 BudgetI. Audited financial statements for the reporting year (or application for exemption from audit): The District is currently exempt from audit, pursuant to Section 29-1-604, C.R.S.
2024 Audit ExemptionJ. 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 2024.
M. A list of Board of Directors with names, phone numbers, addresses, date elected, conflicts of interests, and disclosure of any felonies:
Jay Hardy
Phone: 970-581-8863
Address: Brue Baukol Capital Partners
1555 Blake St., Suite 210
Denver, CO 80202
Elected: May 3, 2022
Conflicts: Employee and owner of JMHapie Investments, LLC, which is under contract to provide services to Brue Capital Partners, LLC (d/b/a Brue Baukol Capital Partners, LLC, which is an affiliate of BBCP Member, LLC. BBCP Member, LLC owns an interest in 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.
Resigned: March 8, 2024
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
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
The 2025 Transparency Notices for the Districts can be accessed on the Special District Association:
https://www.sdaco.org/special-district-transparency-notice/sda-transparency/search