The city of Phoenix is considering a development agreement for what the city says could be one of the first large-scale office announcements in the U.S. since the Covid-19 pandemic.
Through codename"Project Christmas," the proposed development is associated with an upcoming Arizona State Land Department Auction, according to state land documents. The state land department is holding an auction for about 35 acres close to the southwest corner of Tatum and Mayo boulevards for a minimum bid of $29.4 million.
"Nationally this project would be one of the first large-scale office employment announcements since the pandemic and signifies a return to normal business and recovery from the Covid-19 pandemic," the city report added.On Wednesday, Phoenix City Council is scheduled to vote on a development agreement with Chevelle Properties LLC to reimburse the developer for up to $5 million in public infrastructure improvements to support the new office project and surrounding area.
The reimbursements will be funded annually through the city's strategic economic development fund and general fund portion of eligible transaction privilege tax revenue generated from the site for 10 years.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
$200 million office project in north Phoenix proposed for potential company headquarters - Phoenix Business JournalA city report said this project would be considered one of the first large-scale office employment announcements since the Covid-19 pandemic started.
Source: phxbizjournal - 🏆 254. / 63 Read more »
Buckeye, Phoenix approve new residential, storage containers projects - Phoenix Business JournalNew master-planned communities could bring thousands of new homes and multifamily units to West Valley communities, while in downtown Phoenix, the city is allowing a local design firm to bring more repurposed shipping containers for potential residential or retail uses.
Source: phxbizjournal - 🏆 254. / 63 Read more »
Phoenix Suns exec leaves team for Trackhouse Racing - Phoenix Business JournalDean Stoyer has left his position as chief marketing and communications officer with the Phoenix Suns and will be running a newly-formed content and event company focused on auto racing.
Source: phxbizjournal - 🏆 254. / 63 Read more »
Report: Venture capitalists place bid on Phoenix Suns - Phoenix Business JournalThe Suns majority owner Robert Sarver announced earlier this year that he would explore selling the team after the NBA fined him $10 million and banned him from the team for one year. phoenix
Source: phxbizjournal - 🏆 254. / 63 Read more »
Report shows demand remains high for tech workers in Phoenix - Phoenix Business JournalIf you are a tech worker looking for a new gig or thinking of changing jobs in the Phoenix metro, you're in luck. Job demand is growing.
Source: phxbizjournal - 🏆 254. / 63 Read more »
City of Mesa opens workforce center to accommodate job seekers, area employers - Phoenix Business JournalThus far, the city of Mesa said the workforce center has worked with entities or companies such as Lucid Motors, Mesa Public Schools, UPS, FedEx, The Home Depot and Marriott Hotels & Resorts.
Source: phxbizjournal - 🏆 254. / 63 Read more »