Vote: approved

Item Text

36. CONSENT TO ASSIGNMENT WITH HASSAYAMPA RANCH DEVELOPMENT AGREEMENT CONSENT TO TWO ASSIGNMENTS OF HASSAYAMPA RANCH DEVELOPMENT AGREEMENT Approve the Consent to Assignment with Hassayampa Ranch Ventures A, B, C, & D, LLC, each a Delaware limited liability company (Assignors), and Maricopa County through the Transportation Department, for the purpose of consenting to transferring rights and responsibilities associated with the Hassayampa Ranch Development Agreement Number C-64-08-220-0-00 to Hassayampa Ranch (Phoenix) ASLI V, L.L.L.P., a Delaware limited liability limited partnership (“Assignee”). The Consent to Assignment is non-financial and is effective from January 28, 2009 and with the same termination terms as the Development Agreement. On June 18, 2008 (C-64-08-220-0-00), the Board of Supervisors approved the Hassayampa Development Agreement with the Hassayampa Ranch Ventures A, B, C, & D, LLC for the Hassayampa Ranch Development Master Plan (Assignors). The Assignors are conveying the subject property to the Assignee and is requesting that they be released from all rights and responsibilities associated with the Development Agreement, and that such rights and responsibilities be assigned to the Assignee, including those contained in Development Agreement. C64-08-220-0-00.Supervisory District No. 4 Approve the Consents to Assignment by Hassayampa Ranch Ventures, LLC, to Hassayampa Ranch Ventures A, B, C & D, LLC, each a Delaware limited liability company, and by Hassayampa Ranch Ventures A, B, C & D, LLC, to Hassayampa Ranch (Phoenix) ASLI V, L.L.L.P., a Delaware limited liability partnership ("Assignee"), for the purpose of consenting to transferring of rights and responsibilities associated with the Hassayampa Ranch Development Agreement Number C-64-08-220-0-00, between Hassayampa Ranch Ventures, LLC, and Maricopa County through the Department of Transportation. The Consent to Assignment is non-financial and is effective from January 28, 2009, and with the same termination terms as the Development Agreement. On June 18, 2008 (C-64-08-220-0-00), the Board of Supervisors approved the Hassayampa Development Agreement with Hassayampa Ranch Ventures, LLC, the managing entity for Hassayampa Ranch Ventures A, B, C & D, LLC (collectively, the "Assignors"). The Assignors are conveying the subject property to the Assignee and are requesting that they be released from all rights and responsibilities associated with the Development Agreement, and that such rights and responsibilities be assigned to the Assignee including those contained in the Development Agreement (C-64-08-220-0-00) (Supervisorial District 4). (C-64-08-220-0-01)