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1/22/2020 Denver Post investigation into Colorado's metro districts reveals billions in debt paid by homeowners <br />As part of the refinancing deal, the owners of those initial bonds - <br />unknown to dozens of residents in Thompson Ranch who were <br />interviewed for this story - have agreed to accept a single $28 million <br />payday to cover it all and walk away. <br />The bonds' owner - Metro District Acquisition Fund 1 - is made up of close <br />professional associates who have worked on other metro district projects <br />with Oakwood Homes, the subdivision's builder and controlling force, The <br />Post found. <br />Thompson River resident Jerome Burke II was miffed when he learned of <br />the arrangement. <br />"The builder takes out a loan in the guise of the metro district board, <br />passes the obligation to repay the loan (bonds) to the residents yet to <br />come," he said. "And then we learn the ones buying the bonds are their <br />buddies. How is this a win/win for anyone other than themselves?" <br />Metro district advocates insist that they are only looking out for Colorado's <br />future. <br />"Metro districts are not evil or malicious," Terry said. "They are an <br />incredible tool to create infrastructure and build homes in Colorado." <br />Learn more <br />To find information about individual metro districts, including budget <br />documents, director and election information, and service plans, go to the <br />Colorado Department of Local Affairs website. <br />.................................................................................................................................. <br />Popular in the Community <br />Sponsored <br />https://www.denverpost.com/2019/12/05/metro-districts-debt-democracy-colorado-housing-development/ 42 16/19 <br />