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Metro District 2.msg As the President of a Special Tax District in the Town of Snowmass Village (TOSV) and Pitkin County, it is incumbent upon me to notify TOSV and the Pitkin County Board of County Commissioners that the Base Village Metropolitan District #2 (BVMD #2) formed by an Intergovernmental Agreement signed by TOSV and the Aspen Skiing Company attorney and was "created pursuant to an order and decree of Pitkin County District Court", based on current information and after the tax mill levy rate was increased for the Gallagher amendment adjustment, has a forecasted shortfall of as much as 23% or about $410,000 on its debt payment obligations in 24 months. This came to light at the June 27, 2018 BVMD #2 Board meeting. The debt obligations are from the 2016 bonds issued after the employees of Related Companies and Aspen Skiing Company on the BVMD #2 Board and East West had been notified that a petition to recall the entire Board was in process. Litigation is pending. A contributing factor to the projected shortfall is the 2018 Base Village PUD Amendment granting the developers, Aspen Skiing Company, East West and KSL, a penalty-free milestone extension on the construction of Buildings 7 and 8 that contains about two-thirds of the BVMD #2 taxable property for Base Village Phase 2. This information is being shared because the founding Intergovernmental Agreement specifically mentions how this tax district's mill levy rate must be managed in cooperation with the town. Regards, Thomas Kosich President, Base Village Metropolitan District #2