Title
Acquisition of Vacant Land in Spark Area 2 Generally Located at Grant and 11th Street - District 8
Description
Request the Economic Development and the Arts Subcommittee recommend City Council approval to acquire all rights, title, and interest to vacant real property generally located at Grant and 11th Street within the City's appraised value plus usual and customary closing costs. Acquisition is to be by voluntary purchase from La Tierra Del Rio Salado LLC. Funding is available through the City's 2023 General Obligation Bond program.
THIS ITEM IS FOR DISCUSSION AND POSSIBLE ACTION.
Report
Summary
Phoenix Sky Harbor International Airport’s Land Reuse Strategy (LRS) was developed in 2017 to address the reuse and redevelopment of fragmented City-owned parcels acquired through the Community Noise Reduction Program, located roughly between 7th and 16th streets, Washington Street and University Drive. The LRS was the outcome of years of community collaboration. LRS identified three Spark Areas with Spark Area 2 and its City-owned parcels generally located northeast of the corner of 7th Street and Buckeye Road. In order to execute on the LRS Spark Area 2 vision, additional sites will need to be acquired in order to ensure the contiguous properties needed to develop the plan. In 2023, the City sought General Obligation Bond funds for LRS Spark Area 2 Land Acquisitions project. This project will fund the acquisition of private parcels, as they become available, to fill in ownership gaps and facilitate future redevelopment in this area.
The property to be acquired is strategically located within the LRS’s Spark Area 2. The property consists of six vacant parcels and is approximately 46,212 square feet owned by La Tierra Del Rio Salado LLC (Owner). The Owner agreed to voluntarily sell the real property to the City for appraised value. The purchase agreement will contain terms and conditions deemed necessary or appropriate.
The parcels to be acquired are located at 642, 700, 708, 806, 808, and 810 S. 11th Street, identified by Maricopa County Assessor's parcel number 116-39-090, 116-39-088, 116-39-080, 116-39-078, 116-39-076, and 116-39-072A.
Financial Impact
Funding is available through the City's 2023 General Obligation Bond Program's Spark Area Land Acquisition project.
Location
642, 700, 708, 806, 808, and 810 S. 11th Street
Council District: 8
Department
Responsible Department
This item is submitted by Assistant City Manager Ginger Spencer and the Community and Economic Development Department.