Luna Azul Development Fund, LLC (the "Company"), a recently formed Delaware limited liability company, was organized to acquire, entitle and subdivide land in Maricopa County Arizona, and to construct and sell title to cottage homes built upon that land (our âPropertyâ), for the intended benefit of adults with intellectual, developmental and acquired disabilities. The Company is managed by L.A. Management, LLC (the "Manager"), an Affiliate of ECC Management, LLC (the "Sponsor"). The Companyâs principal objective is to achieve suitable returns on our capital investments in the site selection, design, development, construction and sale of a community of cottage homes designed specifically for adults with intellectual, developmental and acquired disabilities. Proceeds raised in this and any subsequent offerings shall be used to purchase and entitle real estate in Maricopa County, Arizona; to design a residential community intended for the benefit of adults with intellectual, developmental and acquired disabilities and the homes within it; to draft covenants, conditions and restrictions; subdivide and record a plat of the parcel; to market and sell the homes; and to cover anticipated negative cash flow in the process.
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