Approval of an Assignment and Assumption of Development Agreement between CD-SG (Colleyville) LLC, PHS Colleyville, Inc., and the City of Colleyville, and authorizing the City Manager to execute the Agreement

Staff Report & Agenda Item Details

Reading and Public Hearing This agenda item provides for the assignment and assumption of the development agreement between CD-SG (Colleyville) and the City of Colleyville that was approved by Resolution R-24-4948 on June 18, 2024, for the senior housing project known as Sagora. The assignment of the development agreement replaces the original group involved (Sagora) with Presbyterian Homes & Services (PHS). PHS will uphold all commitments agreed to under the original development agreement and will construct the senior housing project at Cheek-Sparger and Wayne Drive according to all existing PUD requirements.

This motion is scored as RESTRAINS_GOVERNMENT (Impact Weight: 4.6/10). Under the Bastiat Liberty Watchdog Index, voting YES on measures that cap or reduce ad valorem tax burdens, expand taxpayer exemptions, retire debt early, enforce competitive bidding caps, or remove regulatory/zoning barriers to private property rights earns a positive Pro-Liberty score.