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ITEM: RATIFICATION OF FIRST AMENDMENT TO LAND SWAP AGREEMENT WITH MH WELLINGTON 2023 LLC
REQUEST: Ratification and approval of First Amendment to Land Swap Agreement with MH Wellington 2023, LLC.
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EXPLANATION: In February, 2026, Acme Improvement District and MH Wellington 2023 LLC entered into a Land Swap Agreement pursuant to which Acme will convey a portion of the land located at the corner of South Shore Blvd. and Pierson Road to MH Wellington 2023 LLC in exchange for MH Wellington 2023’s conveyance of a needed bridle trail adjacent to and north of Pierson Road.
The Due Diligence Period, as defined in the Agreement, expired May 31, 2026. MH Wellington is still waiting for a number of deliverables from third parties and the parties therefore would like to extend the Due Diligence Period through July 31, 2026.
BUDGET AMENDMENT REQUIRED: NO
PUBLIC HEARING: NO QUASI-JUDICIAL:
FIRST READING: SECOND READING:
LEGAL SUFFICIENCY: YES
FISCAL IMPACT: NONE
WELLINGTON FUNDAMENTAL: Responsive Government
RECOMMENDATION: Ratification and approval of First Amendment to Land Swap Agreement.