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Superstition Vistas CFD No. 2 board unanimously approves amendment substituting guarantors for Blossom Rock development
Summary
The Superstition Vistas Community Facilities District No. 2 board approved Resolution SVCFD22025-007 to substitute Brookfield Homes Holdings with Brookfield Communities US Holdings and North America Sekisui House as guarantor/indemnitor after staff reviewed financials and found sufficient liquidity; the change also requires city council approval.
The board of directors of the Superstition Vistas Community Facilities District No. 2 on June 17, 2025, unanimously approved Resolution SVCFD22025-007, a second amendment to the district's amended and restated development, financing, participation, waiver and intergovernmental agreement that substitutes Brookfield Homes Holdings as guarantor and indemnitor with Brookfield Communities US Holdings and North America Sekisui House.
District special counsel Zach Sakeus summarized the request at the meeting, saying Brookfield reorganized its corporate structure late in 2024 and asked that the indemnification obligations for the Blossom Rock development align with Brookfield's newly relevant affiliated entities. "So the request is to substitute Brookfield Homes Holdings as a party to the development agreement for CFD number 2 for these 2 new entities, Brookfield…
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