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Agency approves amendment to Lakemore Canyon owner participation agreement with Pulte Homes
Summary
The redevelopment agency approved an amendment to the owner participation agreement with Lakemore Canyon Ventures LLC and PN2 Inc. (d/b/a Pulte Homes of Nevada) allowing administrative line-item changes to the master list of eligible improvements; it does not increase the previously approved principal cap.
The Henderson Redevelopment Agency approved the first amendment to the owner participation agreement among Lakemore Canyon Ventures LLC, PN2 Inc. (d/b/a Pulte Homes of Nevada) and the agency, staff said.
Anthony Molloy, director of the redevelopment agency, told the board the amendment authorizes administrative authorization of line-item changes within Exhibit D, the master list of eligible improvements associated with the project. He said the amendment does not authorize any increase to the previously approved principal cap and that the amendment aligns with best practices.
The board voted to approve the amendment; the meeting record announces all members voted in favor and the motion carried. The recorder identified the motion as having been made by member Stewart in the meeting’s vote narration.
