TITLE
The Mayor and City Council shall discuss and possibly take action on approval of a Partial Release of Development Agreement and Lot Sale Prohibition for Lots 102 and 103 in Parcel 6 of Rancho Mirage Estates. Discussion and Action.
AGENDA ITEM DESCRIPTION
On April 1, 2009, the City approved a Development Agreement and Lot Sale Prohibition with RM Lots, LLLP, an Arizona liited liability limited partnership, related to Parcels 6, 7 and 19 of Phase I of the Rancho Mirage PAD. This Agreement was recorded in the Records of Pinal County, Arizona on May 4, 2009 in Instrument No. 2009-044384.
Global Water owns a well site in Parcel 6 of Rancho Mirage. Global Water requires an additional well site in the area but, due to the Arizona Department of Water requirements, Global cannot install another well on their current site. Therefore, Global Water contacted RM Lots, LLLP to purchase two lots in Parcel 6 for the additional well. Pursuant to the Developerment Agreement and Lot Sale Prohibition, the sale to Global is prohibited unless the City agrees to execute a partial release of the agreement.
This Partial Release of Development Agreement and Lot Sale Prohibition releases Lots 102 and 103 in Parcel 6 of Rancho Mirage Estatements for the sole purpose of making improvements related to well sites and related and appurtenant improvements and well facilities. This Partial Release does not permit the construction of any structures or improvements other than the specified well site improvements.
STAFF RECOMMENDATION
Staff recommends that the Mayor and City Council approve the Partial Release of Development Agreement and Lot Sale Prohibition for Lots 102 and 103 in Parcel 6 of Rancho Mirage Estates.