Q. I can see how a Metro District can be beneficial to the property owners when properly run but must also recognize there are horror stories as well, one of which was recently published in a Colorado paper wherein a Developer put the owners into debt of over $400M.  As such, there are concerns, and seems to be an argument over whether this area is “developed” given then number of unsold parcels of land.
A. The development you refer to was mentioned online in the Developed/Non-Developed document. Converting the FPSD to a Metro District would be equivalent to starting a Metro District in a Developed community. The proposed Metro District is a developed community with no developer in charge of the Board of Directors. In an undeveloped community, the developer is the Board and can spend however they choose.

In the case of the undeveloped parcel in the Metro District, and a developer buys a parcel, they would become a separate sub-district of the Metro District. The developer would be able to then look for financing for a low interest bond from independent financiers. The bond agreement would be between the developer, the bond financiers, and Ouray County tax assessor, with no connections to the Metro District. Once the Developer obtains a Bond, the County Assessor will then create a mil levy specifically for that development, with no bearing upon the Metro District. If the developer defaults, the financial issue will be between the Developer, Bond financiers and Ouray County, again with no bearing on the Metro District.