Title
Consider and take action on a resolution authorizing an assignment and assumption agreement by and between Lakeside Bayou, LLC, the City of League City, and Land Strategies Management, LLC d/b/a Starwood Land for the Detention Facility Development Agreement related to the for the Bayridge Flood Reduction Phase 4 Project (DR1904) (Executive Director of Capital Projects)
Background:
Approval of this item will authorize an assignment and assumption agreement by and between Lakeside Bayou, LLC, the City of League City, and Land Strategies Management, LLC d/b/a Starwood Land for the Detention Facility Development Agreement related to the Bayridge Flood Reduction Phase 4 (Gum Bayou) Project (DR1904).
In September 2024, City Council approved (Resolution 2024-179) an agreement with Lakeside Bayou, LLC to construct a 200-acre-foot detention facility for the Bayridge Flood Reduction Phase 4 Project (DR1904). The City’s participation is $4,840,000, covering its purchase of 200 acre-feet of detention capacity within the Lakeside Bayou development. The facility will expand detention within the Gum Bayou watershed to reduce flooding for Bay Ridge, Hidden Lakes, Whispering Lakes, and the CCISD Educational Village. The detention facility improves Gum Bayou conveyance, reduces stormwater peaks, and eliminates the need for the City to acquire and build its own 200-acre-foot detention.
Lakeside Bayou, LLC has since contracted to sell the property to Land Strategies Management, LLC d/b/a Starwood Land (“Starwood”), which is requesting City consent to assume the agreement and complete the detention facility under the same terms, including bonding and performance obligations. The Lakeside Bayou, LLC has submitted an official assignment and assumption request as presented in Attachment 3.
About Land Strategies Management, LLC (Starwood Land)
Starwood Land is a national residential land developer headquartered in Florida with active projects in Texas and Califor...
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