History
The following is a brief history of the Mayfield neighborhood:
| February 2006 |
The City of Thornton authorizes the creation of the Mayfield Metropolitan District |
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| May 2006 |
The Developer holds a TABOR election authorizing the District to borrow up to $5.6 million to fund the construction of public infrastructure within and without the District. |
| February 2014 |
City of Thornton approves the Mayfield subdivision development plan - a 276-home neighborhood.
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| November 2014 |
The Developer holds a TABOR election authorizing the District to borrow an additional $38.5 million to fund the construction of public infrastructure within and without the District.
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| May 2017 |
The City of Thornton approves a revised service plan for the District which increases the District's borrowing authority from $5.5 million to $12 million.
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| October 2017 |
Century Communities (through its subsidiary Century at Mayfield, LLC) purchases from the Carlson Family the approximate 131.7 acre land tract that comprises the Mayfield Subdivision for $7.5 million.
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| May 2018 |
The Developer holds a TABOR election authorizing the District to borrow an additional $38.5 million to fund the construction of public infrastructure within and without the District.
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| November 2018 |
The Declaration of Covenants, Conditions and Restrictions for the Mayfield Subdivision (i.e. CC&Rs) is filed with the Adams County Clerk & Recorder and all 276 Lots within the Subdivision become subject to the CC&Rs.
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| May 2019 |
The first of 276 single family home is sold by the builder (Century Communities).
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| April 2020 |
The District issues bonds totaling approximately $8.4 million to finance the build-out of the neighborhood's streets, sidewalks, park, utility lines, perimeter fencing, open space landscaping and storm water drainage infrastructure. The Series B bonds were issued at a face amount of $1.24 million and the net annual effective interest rate on these bonds is projected to be 23.1%.
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| May 2020 |
One day before the District's board election, the Century Community executives serving on the District board approve issuance of $1.5 million in second subordinate bonds to Century Communities with a stated interest rate of 3.00% interest through May 2025 and a stated interest rate of 8.25% interest from May 2025 through December 2050. The bonds are projected to accrue approximately $28.4 million in interest and, per the 40-year financial projection prepared by Simmons & Wheeler, the District will never generate sufficient property tax revenue to repay these bonds.
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| May 2020 |
Five homeowners are elected to serve as directors on the District's board. This is the first time which the District has an independent group of directors serving on the Board. Unlike past directors that served on the District's board, none of the currently elected directors report any conflicts of interest serving on the District's board.
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General NEIGHBORHOOD Statistics
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Single-Family Homes |
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High |
Low |
Average |
| Lot size |
0.xx acres |
0.xx acres |
0.xx acres |
| Living space (Note A) |
x,xxx sqft |
x,xxx sqft |
x,xxx sqft |
| Garage size |
xxx sqft |
xxx sqft |
xxx sqft |
| Basement size |
x,xxx sqft |
xxx sqft |
x,xxx sqft |
| Bedrooms |
X rooms |
X rooms |
X rooms |
| Bathrooms |
x.x bathrooms |
x.x bathrooms |
x.x bathrooms |
| Other Data |
| # of homes with no basements |
XXXX |
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| Homes were constructed between 2019 and 2022 |
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| # of developed lots |
101 |
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| # of undeveloped lots |
175 |
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Note A -- Living space data excludes the garage and basement.