HomeMy WebLinkAboutRES 06-52RESOLUTION NO. 06-52
A RESOLUTION OF THE MAYOR AND CITY COUNCIL OF THE
CITY OF APACHE JUNCTION,PINAL COUNTY,ARIZONA,
ADOPTING A NOTICE OF INTENT TO ENTER INTO A
RETAIL DEVELOPMENT TAX INCENTIVE AGREEMENT FOR
THE SUPERSTITION SQUARE DOWNTOWN PROJECT WITH AJ
TOWN CENTRE, L.L.C.
WHEREAS, the City of Apache Junction City Council
("City") at its May 19, 1998 regular meeting approved
Resolution 98-15 which created the Crossroads Redevelopment
Area ("the Redevelopment Area") and at its regular meeting
on July 7, 1998, approved Resolution 98-20 adopting the
Crossroads Redevelopment Area Plan; and
WHEREAS, AJ Town Centre L.L.C.("Developer") owns
approximately 95 acres (the "Property") within the
Crossroads Redevelopment Area; and
WHEREAS, Developer and City have been negotiating a
master development agreement where the Property will be
developed as a horizontally and vertically integrated
mixed -use -retail commercial and residential downtown
center, including but not limited to retail shops,
restaurants, offices, condominiums, town homes, theaters,
and related uses; and
WHEREAS, the above -noted downtown project is a
Redevelopment Project as defined in A.R.S. § 36-1471; and
WHEREAS, the anticipated development agreement
includes a retail development tax incentive component as a
negotiated term as defined under A.R.S. § 9-500.11(M); and
WHEREAS, A.R.S. § 9-500.11(K) requires a city or town
which desires to enter into a retail development tax
incentive agreement to adopt a Notice of Intent to Enter
into such agreement.
NOW THEREFORE,BE IT RESOLVED BY THE MAYOR AND CITY
COUNCIL OF THE CITY OF APACHE JUNCTION, ARIZONA AS FOLLOWS:
RESOLUTION NO. 06-52
PAGE 1 OF 3
That the Mayor and City Council hereby adopt the
Notice of Intent to Enter into a Retail Development
Tax Incentive Agreement with AJ Town Centre, L.L.C.
for the Superstition Square Downtown Project, which
notice is fully set forth in Attachment A.
PASSED AND ADOPTED BY THE MAYOR AND CITY COUNCIL OF THE
CITY OF APACHE JUNCTION,ARIZONA,THIS 6TH DAY OF
OCTOBER , 2006.
SIGNED AND ATTESTED TO THIS 6TH DAY OF OCTOBER , 2006.
ATTEST:
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Clerk
APPROVED AS TO FORM:
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RICHARD J. STERN
City Attorney
RESOLUTION NO. 06-52
PAGE 2 OF 3
DOUGLAS /COLEMAN
Mayor
ATTACHMENT A
Notice of Intent to Enter into a Retail Development Tax
Incentive Agreement
Notice is hereby given, pursuant to A.R.S. § 9-
500.11(K) that the City of Apache Junction, Arizona, an
Arizona municipal corporation ("City"), intends to enter
into a retail development tax incentive agreement (entitled
"Master Development Agreement for Superstition Square
Downtown Project") with AJ Town Centre, L.L.C., an Arizona
limited liability company, on a future date which shall be
at least fourteen days after the adoption of this notice by
the City.
RESOLUTION NO. 06-52
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