Sources and Use of Funds for the Triview Metro District
Triview consists of two distinct organizations: the General Fund and the Utility Enterprise. The General Fund provides all street maintenance (including street overlays and snow removal), parks and open space maintenance, and operates our stormwater facilities.
The General Fund receives money from three primary sources: a 50% sales tax share-back agreement with the Town of Monument from retail businesses located on Baptist Road and on Jackson Creek Parkway, and a property tax mill levy of 27 mills. The third source of funding is from one-time fees charged at the time a building permit is issued for newly constructed homes and commercial buildings. The sales tax money is used to pay for the operation of the Streets and Parks departments. The property tax mill levy is primarily used to pay debt service payments on bonds that were issued for the initial construction of all of the district’s infrastructure beginning in the mid-1980s.
The Utility Enterprise provides water and wastewater services to our approximately 1,900 homes and businesses. In order to pay for utility operations, we charge fees for both water and wastewater services. The Utility Enterprise also collects various water and wastewater fees on each home being built in the district. The Utility Enterprise also is responsible for planning and implementing a transition from nonrenewable Denver Basin groundwater to renewable surface water.
As Triview grows, especially with new commercial properties, more assessed valuation is added, therefore, it takes fewer mills to pay that outstanding general obligation debt. This will enable the district to continue to reduce the mill levy, which will translate into lower taxes assessed on property within the district’s boundaries.