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Cherry Park GID board approves $950,000 bond and budget amendment to replace district fences
Summary
The Cherry Park General Improvement District board in Centennial unanimously adopted a parameters ordinance to issue general obligation bonds and approved a $950,000 2026 budget amendment to fund replacement of about 5,656 feet of failing fencing; the board voted 7-0 on both measures and heard no public comment.
The Cherry Park General Improvement District Board of Directors in Centennial approved an ordinance to authorize issuance of general obligation bonds and passed a companion resolution to amend the 2026 budget, providing $950,000 for a districtwide fence replacement project.
Braden Wirt, a management analyst with the city of Centennial, told the board staff proposed replacing about 5,656 feet of failing interior fencing and said the ballot measure passed with strong voter support: “73% of the electorates voted in favor of incurring $950,000 worth of debt to, quote, provide new fencing and related improvements,” he said. Wirt said the project will replace cedar with Trex Winchester gray fencing; the district contains 321 properties, 63 of which currently have a fence.
Assistant City Attorney Molly Schultz summarized the ordinance as a parameters ordinance that would authorize the issuance and sale of bonds to finance the fence replacement and delegate final pricing decisions to the city manager and the city finance director so long as those decisions remain within limits set by the ballot. “The board is required to issue debt by ordinance under state law,” Schultz said, and she noted the ordinance would become effective 30 days after publication.
Director Middleton asked three questions about the financing and project: staff confirmed the bonds are general obligation bonds, said an estimated completion timeline has not yet been set, and said the replacement material is expected to last about 20 years, roughly matching the proposed loan term.
The board opened public hearings on both the ordinance and the resolution; no members of the public signed up to speak and both hearings were closed without comment. Director Tharpe moved to approve the bond ordinance and Director Sheehan seconded; the board voted 7–0 to adopt the ordinance. Later, Director Tharpe moved to approve Resolution 20-26-CPGID-R-01 to amend the 2026 budget, authorize a supplemental appropriation of $950,000 in revenue and $950,000 in expenses for the project, and authorize the executive officer to execute related contracts and documents; Director Sheehan seconded and the resolution passed 7–0.
Staff said that after financing is secured, they will solicit bids and proceed to contract for construction work. Bond counsel Kim Crawford was present for technical questions about the bonds. The meeting adjourned at 7:00 p.m.
