Title
1.)Executive Session Item: Consultation with legal counsel pursuant to Chapter 551.071 of the Texas Government Code to discuss request to Consent to Assignment of Development Agreement consenting to the assignment of 130 Cactus Investment, L.P.'s rights and obligations under the agreement to Sorrento Holdings, LLC.
Summary
130 Cactus Investment, L.P. requests that the City of Pflugerville approve the assignment of their development agreement to allow for the closing of the sale of the Sorento Subdivision which includes all of the land formerly known as the Bohls North Tract and the PCDC Tract. This assignment would be for the original development agreement, first amendment and second amendment.
The subject of this item has been included on the worksession agenda to allow for discussion and regular meeting agenda for to allow for discussion and potential action. The proposed consent agreement and the development agreements are attached to the regular meeting agenda item.
Deadline for City Council Action
No action will be taken at the worksession.
Fiscal Impact
N/A
Staff Recommendation
Discuss only.
Drafter
Trey Fletcher
Assistant City Manager