Rincon Del Rio Conservation Easement Discussion

Mr. Peter Lemmon, Attorney for the Applicant, Young Enterprises LP, read Land Use and Development Code (LUDC), Policy 1.18 pertaining to open space, and Civil Code Section 8.15.3 regarding conservation easements, into the record.

He explained that the Applicant is setting aside a large portion of the Project for open space not only for marketing purposes, but primarily because it makes the Project what it is. It they were to set it aside into a conservation easement, it would disable the ability to get financing for the Project. Secondly, the Deed itself is very clear regarding the covenants of the agreement running with the land, and provides the assurances that the Code requires and helps the Applicant do what needs to be done.

He reiterated that the open space is a large majority of the property for a closed campus setting for a rural senior living.
Board discussion ensued.