CASTLE PINES NORTH, Colo., Oct. 2, 2008 — The Castle Pines North City Council and the Castle Pines North Metropolitan District Board have unanimously voted to enter into an intergovernmental agreement to share and minimize the tax burden placed on property owners.

Approved at a meeting Sept. 30, the agreement enables both entities to collaborate to address the business priorities and financial obligations held by both the City and the District.

Through this agreement, the City and the District will seek to implement a mil levy sharing plan that allows both entities to achieve their financial goals and obligations, without resulting in a net mil levy increase to property owners.

The City and the Metro District will wait until the District is able to definitively determine its bond repayment interest obligations, and wait for the results from the Nov. 4 vote on ballot question 2D, before making any further decisions about actions that either entity will take regarding mil levies.

“This is a significant step for the City and the Metro District to create a way to work together for the overall benefit of the community,” says Mayor Maureen Shul. “By collaborating we can achieve much more than either the City or the Metro District could achieve separately. We appreciate the Metro District’s willingness to work with and support the city in its formative years.”

The agreement and related information are available on the City’s Web site at www.castlepinesgov.com.

Incorporated Feb. 12, 2008, Castle Pines North is a city of about 10,000 people located about 20 miles south of Denver in Douglas County. CNNMoney.com recently ranked Douglas among the top 10 U.S. counties experiencing the most job growth over the past seven years.