The Oro Valley Town Council on Aug. 5 approved a change to an agreement for water delivery services with the owners of Stone Canyon in Rancho Vistoso.
The consent agenda item passed unanimously without discussion.
Under the terms of the agreement, the developer of residential properties in Stone Canyon — formerly Vistoso Partners — is required to pay the town $10,000 for each housing lot. Payments were to be made to the Oro Valley Water Utility at the time a lot sells.
The agreement with the town still stands, but Vistoso Partners no longer owns the subject properties. About 70 undeveloped lots in the gated community were transferred to the Robert A. Hansen Family Trust in June, making the trust the largest stakeholder in Stone Canyon.
"Hansen has been an investor (in Stone Canyon) for years," said Vistoso Partners president Dick Maes.
Maes said the transfer of properties was a method for developing the lots. The properties were conveyed to the Hansen trust under a "deed in lieu of foreclosure," a transfer in which the borrower gives all interest in a real property to the lender to avoid defaulting on a loan.
According to town documents, a representative from Hansen contacted the town to work out an arrangement to keep the water delivery contract in place because the "loan is in default."
In addition to taking ownership of residential properties, Hansen now owns a share of the golf course in Stone Canyon, Maes said.
The council also approved an item finalizing financial participation agreements with several community groups and non-profit organizations. Under the agreements, groups will receive payments totaling $277,717.
These groups will be funded the following amounts:
Amphi Foundation $2,000
Arizona Distance Classic $3,000
Arizona Paralyzed Veterans $4,500
Arthritis Foundation $1,375
Catalina Community Services $3,750
Community Food Bank $15,000
Critical Path $25,000
Interfaith Community Services $1,250
Oro Valley Parade $1,893
Pima Council on Aging $9,019
Perimeter Bicycling $13,750
Project Graduation $10,000
TriSports Racing $13,250