Monthly Recap: May

And an important correction regarding The Meadows

Welcome to summer!

Open Space in Castle Pines

Correction on The Meadows!

Before we go any further I want to lay out an important correction with regard to The Meadows in an article I wrote on Metro Districts in Douglas County. The original version of the article implied a total bond debt (about $454 million) would be due in full in June 2029. That is wildly not correct. I misinterpreted what actually happens for The Meadows bonds; in three years the interest stops accruing for the bonds, the bonds themselves do not mature and become due at that time. There should be no significant impact to homeowner tax bills, but they will continue to pay for a bond debt that is structured to last beyond most of our lifetimes.

The issue and mistake is really about “is there going to be a huge payment due in June 2029?” The answer is no. Simply put: I alone misunderstood what I read and assumed that if interest stopped accruing, the bond matured and became payable.

I am embarrassed about making that mistake but, notably, this is the first substantive correction we’ve needed to send for The Lantern in our first year of existence. (I also mis-identified which commissioner district belonged to an open county planning commission months ago - and it haunts me - but we caught it quickly.)

A Quick Plug

Check out this local newsletter covering Douglas County hosted on Axios. Longtime local journalist Robert Sanchez is running it and we at The Lantern like it a lot. Are we competitors? Perhaps. But I like to think more, quality, local journalism is great for the whole ecosphere.