LAND AND ENTITLEMENTS WHAT SIZE ARE THE RESIDENCES? Lionsback resort will feature two- and three-bedroom single family homes known as “Casitas” ranging in size from roughly 1,600 livable square feet for the Strata Casita, 2,100 livable square feet for the Mesa Casita, and up to 3,000 livable square feet for the Spire Casita. WHAT AMENITIES ARE OFFERED AT LIONSBACK RESORT? Lionsback Resort is surrounded by some of the most incredible natural amenities that could never be replicated by man. The 9,000 acre Sand Flats Recreation Area is directly adjacent to Lionsback which offers world class mountain biking, hiking and four-wheeling. In addition to the biking and hiking trails that will be developed on the resort site, certain Club amenities, including, without limitation, the Club pool, are anticipated to be constructed along with the second phase of Casitas and will be available to Casita Club Members and certain guests (see “The LB Club” section below). WHO IS THE DEVELOPER OF THE PROJECT? The developer of Phase 1 of the Lionsback Resort is LB Moab Owner Phase 1, LLC who is solely responsible for the development of Phase 1 of the project. Invent Development Partners manages and oversees the development process. The principals of Invent Development Partners have over 60 collective years of resort and urban development from coast-to-coast. SITLA DEVELOPMENT AGREEMENT AND GROUND LEASE In June 2006, the Developer entered into a 99-year Development and Ground Lease for the development of a resort on the 175-acres with the State of Utah’s School and Institutional Trust Lands Administration. This lease was amended and restated in 2018. However, the Development and Ground lease is not relevant to a buyer’s fee simple purchase of a Casita. The Developer purchases fee simple ownership of the land for each of the Lionsback Resort phases of development from SITLA upon receiving Moab City Council final plat approval. CITY OF MOAB ENTITLEMENTS The Developer worked with the City of Moab to create the Sensitive Area Resort (SAR) zoning and Master Plan Development (MPD) process as they did not have appropriate zoning or an approval process that fit the proposed development. This required a careful balance between development and the environment. On October 28, 2008, Lionsback Resort received approval for the land to be annexed into the City of Moab and its Preliminary MPD submittal which included the development of 50 condo hotel units, 188 single-family residential lots/casitas and 18 employee housing units. In July 2009, the City and the Developer entered into a Development and Phasing Agreement. Per the Development Agreement, the Developer makes a submittal to the City for Final MPD and Final Plat approval for each individual phase. Each phase is then governed by its own Subdivision Improvements Agreement (SIA) which governs the infrastructure development for that phase. Once the Final Plat Map is approved for a phase, fee simple title is conveyed to the Developer. In turn, the Developer conveys fee simple title to the land to a buyer at the closing of each Casita. The Phase 1 Final Plat and Phase 1 Subdivision Improvements Agreement were approved by Moab City Council on June 8, 2021 and the Developer closed on the Phase 1 land purchase from SITLA in May 2022. hksinc.com inventdp.com
HOW IS WORKING CAPITAL FUNDED FOR THE POA? The Developer is funding the startup costs of the POA. Additional working capital will be funded by Buyer at the closing of a sale of each Casita in the amount of $500.
WHO MANAGES THE POA? The POA will be managed by the Developer during the Control Period. The “Control Period” is defined in the CC&Rs as commencing on the date the CC&Rs are recorded and terminating on the occurrence of the earliest of the following events: (i) six months after the date on which all of the Lots, and all Lots located on any additional land that has been annexed into the project, have been conveyed to purchasers other than Developer or its successors, assigns, and affiliates under the CC&Rs; or (ii) the Developer executes and records a written waiver of its right to control the POA. “Lot” means any numbered building lot or parcel shown on the plats within the project from time to time. WILL MY POA DUES EVER INCREASE? Dues may increase over time and will be based on the annual budget prepared by the POA each year and approved by the POA Board. After the first year, the POA will have a much more accurate projection of dues based on actual costs of POA operations and beyond. WHAT IS THE POA BOARD OF DIRECTORS COMPOSITION? The Board of Directors is the governing body of the POA. During the Control Period, Developer shall have sole authority to act as the Board of Directors or to appoint all members of the Board of Directors. Following the Control Period, the Board of Directors shall be elected by the members of the POA and initially composed of 3 directors, but can be up to 3 or 5 directors.
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DEVELOPER Our vast knowledge in all aspects of the real estate development process, coupled with our attention to detail at every turn, provides the valuable edge you need to succeed in today’s highly technical and competitive marketplace.
ARCHITECT HKS creates experiential destinations that touch the soul of every guest. Our global team takes an inclusive, forward-thinking approach to create bespoke designs for our clients, their guests and communities. Curiosity, creativity and intelligence are the hallmarks of our design teams who balance beauty and performance in each environment they create.
INTERIORS Our approach is simple. We create uncomplicated, authentic interiors that complement the natural environment.
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