if i was smm boss

I would offer JV to AVQ on conditions:

1. 20% landowners, 40% each SMM and AVQ
2. All future ivestment/expenses 50/50%, except landowners.
3. I would agree to pay compensation to AVQ- $5 millions on condition, that 20% from that will go to landowners i.e $1 million, the rest will go in JV common fund for future development as investment from AVQ.

4. I would agree to pay the same amount $5 million in common
JV fund.

Best luck to ALL.