How is a Metro District funded?
Funding for a Metro District
State and County Funds: Metro Districts receive funds for infrastructure projects.
Bonds: Issued to finance infrastructure, with the underwriting process reviewing the project's financial viability. Costs are repaid over 20-30 years through property taxes, with FPSD bearing no risk; all risk is on bondholders.
Mill Levies: Provide multiple disclosures to homebuyers, with caps and limited terms protecting homeowners from excessive taxes.
FPSD bears no risk for bonds, ALL risk is on the bond holders.
Q. Once the Metro District is formed that includes the Sanitation District, the playground, and let’s even add the existing roads, then I believe this is where the real uncertainty lies, and the rumors begin. Are there any plans to add new roads, new facilities, new services, etc, and pass those costs on to the property owners through the Metro District. If so, what is the benefit to the property owners, and can you state what those plans, facilities, services, etc. are? What is the process for adding such new facilities and services, i.e. is it a vote of the Board or the members of the Metro District? Can you explain that process?
A. No projects, roads, facilities, and new services can be created, since this would cause debt, and there cannot be any dept incurred, without the vote of the membership.