History / Timeline

City of Wheatridge approves the proposed service plan for the District as proposed by the Developer.

City of Wheatridge approves the amended and restated service plan for the District as proposed by the Developer.

The Developer sells all land within the District to Toll Brothers and Toll Brothers becomes the sole land owner and developer within the District. 

Toll Brothers enters into a "Subdivision Improvement Agreement" with the City of Wheatridge to construct the public infrastructure (e.g. roads, sewer lines, water lines, sidewalks, fire hydrants, etc) within the District and turn over such infrastructure to the City for ownership and maintenance. 

The Toll Brothers-controlled District issues $5,145,000 in Senior Bonds, $600,000 in Subordinate Bonds and $708,000 in Junior Lien Bonds. The Junior Lien Bonds are issued to Toll Brothers. The proceeds from the bonds, net of $417,000 in debt issuance service fees, are remitted to Toll Brothers. 

Toll Brothers completes construction of the model homes. 

The District issues a $7,275,000 bond for the purpose of refinancing and paying off the District's 2019 Senior, Subordinate and Junior Lien Bonds.  The refinance results in a net present value loss to taxpayers of approximately $123,000.

One homeowner is elected to serve on the District's Board. The other four directorships on the Board remain vacant. 

Toll Brothers sells the last of 202 townhome units within the District. The District is now fully built out.