CPN Metro District bids farewell to manager
Since February 2005, James McGrady has led the Castle Pines North (CPN) Metro District on quite a journey. McGrady announced his retirement from the district last month. Much has been accomplished during the five years with McGrady at the helm as district manager.
Working from the Ground Up
When McGrady signed on as manager in 2005, the CPN Metro District had approximately $39 million in historical debt from the bankruptcy of the development of CPN in the late 1980s. In addition, certain bond covenants prevented the district from borrowing additional money.
In 2006, McGrady led the district to refund all outstanding bonds. McGrady says by 2013 the district’s debt service mill levy can be permanently reduced by approximately 50 percent.
Leading the Quest for Renewable Water
In early 2005, renewable water had just become a serious concern for Douglas County and the front range. With a district that is totally dependent on water from non-renewable ground water, McGrady worked tirelessly toward securing renewable water sources for CPN.
Putting the Pieces Together
While serving as district manager from 2005 to 2010, McGrady worked with three different boards of directors. CPN Metro District board members are homeowners who are elected by residents of the community.
With a board election set for next month, McGrady says he hopes homeowners will take time to vote.
“The upcoming election is extremely important,” he said. “All of the pieces have been purchased. Now it is time to put the puzzle together. This new board will have to make the financial commitments to finishing the job that was started and have the courage to make tough decisions for the overall well being of the community.”
After five years on the job, McGrady says he feels the district is in good financial condition. Looking toward the future, McGrady says in five more years he sees the district thriving and providing renewable water to the citizens of Castle Pines North.
“I believe the assets that were acquired the past two years will have been knit together into a firm, sustainable water system. I hope that the many beautiful parks and open spaces continue to be well maintained and that the citizens of Castle Pines North are able to be proud of the community in which they live,” said McGrady. “Unfortunately I can’t see beyond five years, but I do know this… if the citizens stay the course, Castle Pines North will become one of the premier communities in the state.”
As of press time, the Metro District board of directors was accepting applications and continuing to search for a new manager. According to board President Andy Rhodes, “The Metro District has gotten resumes and is in process of starting interviews to fill the big shoes left by Jim.”
