Kroenke Sports and Entertainment Metropolitan District No. 1 District Documents
2025 ANNUAL REPORT
KROENKE SPORTS AND ENTERTAINMENT METROPOLITAN DISTRICT NOS. 1-5
As required by Section 32-1-207(3)(c), C.R.S., and Section XIV of the Districts’ respective Service Plans, the following report of the activities of Kroenke Sports and Entertainment Metropolitan District No. 1 (“District No. 1”), Kroenke Sports and Entertainment Metropolitan District No. 2 (“District No. 2”), Kroenke Sports and Entertainment Metropolitan District No. 3 (“District No. 3”), Kroenke Sports and Entertainment Metropolitan District No. 4 (“District No. 4”) and Kroenke Sports and Entertainment Metropolitan District No. 5 (“District No. 5”, and together with District No. 1, District No. 2, District No. 3, and District no. 4, the “Districts”) from January 1, 2025 to December 31, 2025 is hereby submitted.
A. Boundary changes made:
No boundary changes were made or proposed for the Districts during 2025.
B. Intergovernmental Agreements entered into or terminated:
- First Amendment to KSE Arena Development Agreement dated August 12, 2025 by and among Kroenke Arena Company, LLC, Kroenke Parking, LLC, Fifth Street LTD., LLC, City and County of Denver, and the Districts.
- Memorandum of Understanding dated August 14, 2025 among the Districts.
C. Access information to obtain a copy of rules and regulations adopted:
Copies of adopted rules and regulations can be found at the offices of McGeady Becher Cortese Williams P.C., 450 E. 17th Avenue, Suite 400, Denver, CO (303-592-4380) or on the Districts’ website, at: https://ksemd1-5.specialdistrict.org/.
D. Summary of litigation involving the Districts’ public improvements:
The Districts’ public improvements were not involved in any litigation in 2025.
E. Status of the Districts’ construction of public improvements:
The Districts did not construct any public improvements in 2025.
F. Conveyances or dedications of facilities or improvements, constructed by the Districts, to the City and County of Denver:
The Districts did not convey any facilities or improvements to the City and County of Denver in 2025.
G. Final assessed valuation of the Districts for the report year:
$4,297,970
H. Current year’s budget:
The District No. 1 2026 budget is linked hereto.
2026 Budget2026 Amended Budget
I. Audited financial statements for the reporting year (or application for exemption from audit):
Linked hereto is the District No. 1 audit exemption for the current report year (2025).
2025 Audit Exemption
J. Notice of any uncured events of default by the Districts, which continue beyond a ninety (90) day period, under any debt instrument:
To our knowledge, there are no uncured events of default by the Districts which continue beyond a ninety (90) day period.
K. Any inability of the Districts to pay their obligations as they come due, in accordance with the terms of such obligations, which continues beyond a ninety (90) day period:
To our knowledge, the Districts have been able to pay their obligations as they come due.
**For accessibility purposes, this is an alternate conforming version of the 2025 Annual Report
2026 Mill Levy - 0.000 mills
2025 Budget2025 Mill Levy - 0.000 mills
The Transparency Notices for the Districts can be accessed on the Special District Association website: