SUBJECT: General Business
Title
A Resolution of the Town Council of the Town of Erie Approving a Consent to Assignment of the Development Agreement for Canyon Creek Filing No. 8
Body
DEPARTMENT: Planning and Development
PRESENTER: Christopher C. LaRue, Principal Planner
FISCAL SUMMARY:
Cost as Recommended: NA
Balance Available: NA
Budget Line Item Number: NA
New Appropriation Required: NA
POLICY ISSUES:
Consideration of whether transferring the DA responsibilities from Stratus Canyon Creek, LLC to KB Home Colorado, Inc. is acceptable. KB Home is an established builder and will be able to meet the requirements of the DA.
STAFF RECOMMENDATION:
Recommendation
Approve the resolution consenting to the assignment of the Canyon Creek No. 8 Final Plat development agreement (DA) from Canyon Stratus Canyon Creek, LLC to KB Home Colorado Inc.
End
SUMMARY AND BACKGROUND OF SUBJECT MATTER:
The Final Plat and the Development Agreement for Canyon Creek No. 8 was approved by the Town Council on Nov. 14, 2023.
The Canyon Creek Filing No. 8 subdivision is generally located northeast of Jasper Road (future Lombardi Street) and Telleen Avenue.
The current owner of the property (Stratus Canyon Creek, LLC) wishes to convey the land to KB Homes Colorado, Inc. The attached Resolution, provided for consideration by the Town Council, will assign all rights, improvement obligations, covenants, promises, and requirements under and pursuant to the Development Agreement for Canyon Creek Filing No. 8 Subdivision to KB Homes Colorado, Inc.
Board Priority(s) Addressed:
ü Attractive Community Amenities
ü Prosperous Economy
ü Well-Maintained Transportation Infrastructure
ü Safe and Healthy Community
ü Fiscally Responsible
ATTACHMENTS:
1. Resolution No. 24-038
2. Town Consent to Assignment
3. Recorded Copy of the Canyon Creek Filing No. 8 DA