TITLE
The Mayor and City Council shall discuss and take action to approve a Consent and Subordination of Lender with Lowe's Home Centers, LLC, TTRG AZ Maricopa Honeycutt Development, LLC, TTRG AZ Maricopa Honeycutt 5, LLC, TTRG AZ Maricopa Honeycutt 6, LLC, and TTRG AZ Maricopa Honeycutt 7, LLC, to subordinate the City's Deeds of Trust to the Easements, Covenants, Conditions and Restrictions on Phase II of Southbridge Marketplace. Discussion and Action.
AGENDA ITEM DESCRIPTION
The City of Maricopa received a request to consent to the subordination of the City's Deeds of Trust to the Easements, Covenants, Conditions and Restrictions on Phase II of Southbridge Marketplace. The requested consent is by and between Lowe's Home Centers, LLC, TTRG AZ Maricopa Honeycutt Development, LLC, TTRG AZ Maricopa Honeycutt 5, LLC, TTRG AZ Maricopa Honeycutt 6, LLC, and TTRG AZ Maricopa Honeycutt 7, LLC.
PRESENTER
This item will be presented by Josh Bowman, Chief Strategy Officer.
STAFF RECOMMENDATION
Staff recommends the approval of the Consent and Subordination of Lender between Lowe's Home Centers, LLC, TTRG AZ Maricopa Honeycutt Development, LLC, TTRG AZ Maricopa Honeycutt 5, LLC, TTRG AZ Maricopa Honeycutt 6, LLC, and TTRG AZ Maricopa Honeycutt 7, LLC, and the City of Maricopa.