History

 
The following is a brief history of the Second Creek Farm neighborhood:
 
November 2002 The Second Creek Farm Metropolitan District No 2 is created
December 2016 Second Creek Holdings, LLC (Developer) purchases all land located within the Second Creek Filing No 1 and Filing No 2 Plat Maps (approximately 427 acres of land) from Second Creek LB Investors SPV, LLC for $5,812,000.
April 2019 Commerce City approves the Second Creek Farm Filing No 1 Amendment 1 subdivision development plan (North side of 88th Avenue) - a 172-home neighborhood.
 
Sept. 2019 to March 2022 Developer sold approximately 85% of the land within the Second Creek Development – including the 923 home lots along with streets, water lines, sewer lines and other public improvements constructed by the Developer – to five different third party entities at a total price of $45,615,809. Ignoring additional revenue to be later incurred from selling the remaining 15% of its land holdings, the Developer's return on its original land purchase thus far is approximately 784%.
 
 October 2019 SCFMD3 issues Series 2019A bonds totaling $18,715,000 and Subordinate Series 2019B bonds totaling $1,696,000 for the purposes of subsidizing public infrastructure costs claimed to have been incurred by the Developer. These two bonds were sold into the public financial markets.
 
October 2019 The District enters into a capital pledge agreement with SCFMD3 where the District agrees to levy a debt mill levy and remit the property tax revenues from such collections to SCFMD3. The Pledge Agreement requires the District to levy the Maximum Allowed Debt Mill Levy (as defined in the Agreement) each year.
 
April 2020 The Second Creek Farm Homeowners Association, Inc. is incorporated and assumes responsibility for enforcing the CC&Rs and providing architectural review services to the 172 homes in Filing No 1. All homeowners become shareholders in/owners of the Association.
  
May 2020 The Declaration of Covenants, Conditions and Restrictions of Second Creek Farm Homeowners Association (i.e. CC&Rs) is filed by LGI Homes on all home lots located in Filing No 1.
 
September 2020 Commerce City approves the Second Creek Farm Filing No 2 Amendment 1 subdivision development plan (South side of E 96th Avenue) - a 240-home neighborhood.
 
December 2020 The first single family home is sold by the builder (LGI Homes) in Filing No 1.
 
May 2021 Commerce City approves the Second Creek Farm Filing No 3 Amendment 1 subdivision development plan - a 511-home neighborhood located between Filing No 1 and Filing No 2.
 
May 2021 The Declaration of Covenants, Conditions and Restrictions for Second Creek Farm Filing No 3 (i.e. CC&Rs) is filed by the Developer on all home lots located in Filing No 3 (comprising District 3).
 
November 2021 SCFMD3 issues Series 2021C bonds totaling $8,288,000 and Series 2021D bonds totaling $3,055,000 for the purposes of subsidizing public infrastructure costs claimed to have been incurred by the Developer. These two bonds are private bonds held by an entity affiliated with the Developer.

Total debt issued by SCFMD3and remitted to the Developer to subsidize the construction of public improvements on the Developer's land totals $31,754,000. Had the Developer received no subsidies from SCFMD3, the Developer's return on its original land purchase thus would be approximately 21%. (=$45,615,809 / [$5,812,000 + $31,754,000])

October 2022 The Declaration of Covenants, Conditions and Restrictions of Second Creek Farm Homeowners Association (i.e. CC&Rs) is filed by LGI Homes on all home lots located in Filing No 2.
 
December 2022 The Second Creek Farm 2 Homeowners Association, Inc. is incorporated and assumes responsibility for enforcing the CC&Rs and providing architectural review services to the 240 homes in Filing No 2. All homeowners become shareholders in/owners of the Association.