Memorandum
REPORT TO:
City Commission
FROM:
Anna Saverud, Chief Civil Attorney
SUBJECT:
Authorize City Manager to Sign Third Amendment to Meadow Creek Subdivision Payback Agreements for Sanitary Sewer, Traffic, and Water Improvements, Assigning Rights to JBMBM Group, LLC.
MEETING DATE:
October 20, 2026
AGENDA ITEM TYPE:
Agreement - Legal
RECOMMENDATION:
I move to authorize the City Manager sign the Third Amendments to Meadow Creek Subdivision Payback Agreements for Sanitary Sewer, Traffic, and Water Improvements, Assigning Rights to JBMBM Group, LLC.
STRATEGIC PLAN:
BACKGROUND:
MCCapital LLC (MCC) has the rights, title, and interest in the Meadow Creek Sanitary Sewer, Traffic, and Water Payback District Agreements. MCC obtained interest in these payback districts from Meadow Creek Partners LLC in 2010. As the City is responsible for assessing, collecting, and distributing funds for the payback district agreements, the original agreements require the City to provide written consent for any assignment of interest related to the payback agreements. MCC has informed the City that the composition of their organization has changed, and the members have reorganized as JBMBM Group, LLC. MCC desires to assign their rights, interests and title in the payback districts to JBMBM Group, LLC. Approving these amendments to the payback agreements is the City's written consent to the assignment of the interest.
For additional information or history of the payback districts, please see the December 17, 2024, City Commission meeting where the City Commission approved extending the duration of the payback periods for each district.
UNRESOLVED ISSUES:
None
ALTERNATIVES:
None
FISCAL EFFECTS:
None