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Reasons to Own in Prospect:
With magnificent views of towering peaks, rolling river valleys and unparalleled ski access, it is little wonder that the Prospect neighborhood has been so successful since its first homesites were released in 2001. Many of the reasons to own in Prospect are clear once you ski through the neighborhood: breathtaking views, peaceful seclusion, great skiing. But some of the other reasons might not be so obvious.
First, there is the steady hands-on leadership of Tim and Diane Mueller, the owners of the Crested Butte Mountain Resort. When they are running the show, expect nothing less than success. Regarded as the leading private ski resort developers in America, the Muellers are personally overseeing the development of Prospect. Their team has made every effort to ensure that the aesthetic quality of Prospect and the homes within the neighborhood matches the unique and majestic character of the area.
Next, as with many of the best resort neighborhoods in Colorado, Prospect is controlled and protected by a metro district. The exceptional ability of these legal entities to support long term value of neighborhoods and provide unmatched levels of service to homeowners is covered in the Metro District Highlights section below.
Key amenities include:
1. Direct access to the ski mountain via the Gold Link, Painter Boy and Teocalli ski lifts and the new Prospect ski lift.
2. 276 acres of open space for you and your family to explore.
3. 12 miles of trails for alpine, nordic, biking and hiking.
4. Covenant-controlled community with comprehensive design guidelines to ensure the aesthetic integrity of the community.
5. The best slope side access in the West.
Metro District Highlights:
Frequently Asked Questions about Metro Districts:
Q: What is a metro district?
A: Metro districts are quasi governmental organizations with taxing authority that are created to fund and administer services for the betterment of a particular neighborhood or community.
Q: What type of communities use metro districts?
A: Many of the finest resort neighborhoods in the West are governed by metro districts because they provide more power and flexibility than traditional homeowners associations. See below for examples of metro districts being utilized in resort areas.
Q: Who controls a metro district?
A: In most situations, a board of directors controls the metro district. These members are elected by local property owners.
Q: How is the metro district funded?
A: A mill levy is added to the normal property tax bill and the resources from that levy are used solely for the benefit of property owners and the neighborhood.
Q: What are the funds from the mill levy used for?
A: In the early stages of large developments, most of the funds in metro districts go towards the repayment of bonds that were used to finance infrastructure such as water, sewer, electricity, phones, bridges, drainage and roads. As the community matures and more homes are completed, the mill levy is often reduced to an amount that is sufficient to fund ongoing services and special neighborhood amenities. Examples of these types of amenities include recreation centers, skating rinks, special events such as concerts, enhanced landscaping, walking trails, parks, property protection, common are maintenance, and club houses to name a few.
Advantages of Metro Districts for Homeowners:
1. Owners can raise more funds through the issuance of bonds to invest in neighborhood appearance and amenities, which ultimately supports higher property values.
2. As with all local property taxes, the additional mill levy charged by the metro district can be deducted from owners' income taxes. This is not possible with normal HOA dues.
3. A metro district keeps HOA dues low because many of the necessary neighborhood services are performed by a more powerful and well funded metro district.
4. Local governments and large organizations such as ski areas are more likely to work with influential metro districts to ensure that access and services are to the benefit of the community.
5. A metro district affords collective legal protections to homeowners and to the neighborhood, which are not possible with a normal homeowner's association. This means a possible reduction in collective financial liabilities that might result from a lawsuit.
Examples of Metro Districts:
1. Aspen Village Metro District in Aspen, Colorado, has not only created first class public spaces, but also funded numerous private concerts and events.
2. Mountain Village Metro District in Telluride, Colorado has funded an extensive trail and lift system that connects to the ski area and to the town of Telluride.
3. Bachelor Guch Billage in Beaver Creek, Colorado first kept initial property prices lower, through issuing bonds to fund infrastructure. As the neighborhood came into its own, the funds have been used to add world class amenities such as spas, pools and a recreation center.
4. Beaver Creek Metro District in Beaver Creek, Colorado has formed a close relationship with the adjoining ski area and was able to buy property later used for neighborhood amenities. Further, the metro district was able to encourage the ski are to make on-mountain improvements that supported property values.
5. Eagle Ranch in Eagle, Colorado has use their metro district to create a private movie theater, restaurants, and a golf course.
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