Castle Pines City Council and the Castle Pines North Metropolitan District (CPNMD) Board of Directors each voted unanimously last month in support of a resolution approving an intergovernmental agreement for the dissolution of the Castle Pines Parks Authority and the transfer of its assets to the City.
The Castle Pines Parks Authority was a governmental alliance formed in 2000 to plan, fund and build parks and recreation facilities for the [then] Castle Pines North community. A percentage of homeowners’ association dues paid to the Master Association funded the Parks Authority.
According to CPNMD Director Denise Crew, “The terms of the dissolution require the City of Castle Pines to apply all existing principle and future interest on the $719,000 fund balance to existing or new parks, trails and amenities – specifically within our established neighborhoods whose residents historically paid the Master Association’s annual assessment.”
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