Vote: approved

Item Text

37. DEVELOPMENT AGREEMENT WITH LAKE PLEASANT 5000 L.L.C.; REX G. MAUGHAN AND RUTH G. MAUGHAN Approve the Development Agreement with Lake Pleasant 5000 L.L.C.; Rex G. Maughan and Ruth G. Maughan, Trustees of the Maughan Revocable Trust of 2007, dated August 24, 2007; and Rex Maughan and Ruth Maughan as required by stipulation "d" of the Development Master Plan Case DMP2012003 approved by the Board on February 20, 2013. As a condition of the DMP approval, the applicant is required to enter into a development agreement with Maricopa County to address potential short and long-term fiscal impacts to Maricopa County. This agreement must be approved by the Board prior to approval of any rezoning associated with the DMP. The term of this agreement shall be 30 years from the date of Board approval. This development agreement is to be recorded as required pursuant to A.R.S. 11-1101. (Supervisorial District 4) (C-44-13-087-3-00)