City Council Draft Agenda

Return to the Search Page Return to the Agenda

8.B.

Meeting Date:	11/21/2023
From:	Christina Rubalcava, Senior Assistant City Attorney CR

TITLE:

Consideration and Approval of Assignment of Development Agreement: Transfer of the Development Agreement between the City and VP 66 and Woody Mountain LLC to Liv SC Flagstaff, LLC

STAFF RECOMMENDED ACTION:

Approve the assignment of the Development Agreement to Liv SC Flagstaff, LLC.

Executive Summary:

VP 66 and Woody Mountain LLC is requesting an assignment of the Sky Cottages Development Agreement dated May 25, 2021, from VP 66 and Woody Mountain, LLC to Liv SC Flagstaff, LLC. The assignee is a Michigan limited liability company registered to do business in Arizona as a foreign LLC, and is a subsidiary of Liv Holding, LLC, the overarching parent organization for Liv Communities.

According to VP 66 and Woody Mountain LLC, Liv Communities, the proposed developer, is an experienced multi-family and senior housing residential development and management company. Liv designs communities to promote eco-friendly, social, and healthy lifestyles for their residents. Liv has developed and operated eleven multifamily and senior living communities in Arizona and has seven additional communities coming soon. Liv is also the developer of Liv Timber Sky, a multi-family project which will be located just north of Sky Cottages within the Timber Sky development.

Financial Impact:

None.

Policy Impact:

None.

Connection to PBB Priorities/Objectives, Carbon Neutrality Plan & Regional Plan:

None.

Has There Been Previous Council Decision on This:

No.

Background/History:

VP 66 and Woody Mountain LLC wants to transfer the rights to its development project to Liv SC Flagstaff, LLC, a Michigan limited liability company registered to do business in Arizona as a foreign LLC, and a subsidiary of Liv Holding, LLC, the overarching parent organization for Liv Communities.

Under the terms of the Development Agreement between the City of Flagstaff and VP 66 and Woody Mountain LLC, the City must approve the assignment of the Development Agreement to a new party and the City’s approval cannot be unreasonably withheld.

The terms of the Development Agreement will not change and any development that occurs on the Property must comply with the terms and conditions of the Development Agreement.

Attachments
Sky Cottages DA