Established in 2008, the Metropolitan Districts within SilverStone are local units of government created to fund the construction of public infrastructure for the SilverStone community. The Metro Districts issue debt to pay for the public infrastructure and the debt is repaid by property taxes levied within the Metro Districts’ boundaries. Public infrastructure includes streets, water, sewer, storm drainage, parks, trails, and other similar improvements, all serving the SilverStone community.
There are three Metro Districts within SilverStone. Metro District No. 1 is the operating District and is responsible for providing the day-to-day operations and administrative management of all of the Districts, including construction management during installation of the public infrastructure. Metro District No. 2 is the financing District for the residential properties within SilverStone and Metro District No. 3 is the financing District for the commercial properties within SilverStone. The financing Districts are responsible for issuing debt to pay for the public infrastructure and for levying property taxes to repay the debt.