City leaders approve $29.3 million industrial land purchase

Maricopa City Council approved the purchase of 309 acres of land Tuesday night for $29.3 million to be paid for from the city’s cash reserves to develop a “Smart Rail Park.”

In his new capacity as Maricopa’s economic developer, Ricky Horst presented the concept to council members before they took action.

Horst, addressing councilmembers during their meeting Tuesday night, described the proposed rail-served industrial park as more than 1,400 acres, about half of which is to be city-owned.

The council’s action acquires almost 309 additional acres to create a cohesive industrial park plot with connecting acreage between West Cowtown Road and West Steen Road, east of North White and Parker Road.

“The City of Maricopa is in an awesome financial situation to make this happen, so I want to be a catalyst to make it happen,” said Mayor Nancy Smith.

Horst said the industrial park once built out would have a job creation potential of up to 36,000 positions over time. It could develop up to 12 million square feet of industrial space, he said.

Horst said within the next two weeks the city plans to put out bids for a master developer.

“And I’m pleased to say that at present we now have three to four parties that will submit a bid when a bid goes out,” Horst said.

The former city manager, who recently stepped down to become the city’s new chief strategy officer, proposed the $29.3 million land acquisition using city reserve funds to acquire it.

Horst stressed that the cash deal would mean no loans, bonding or raising taxes.

The purchase, he said, will fill in the space to create a cohesive plot of land for the industrial park.

Horst said federal grants were available to finance infrastructure, legal fees, utilities, site access, interior road improvements, building pad creation, planning, permitting fees, studies, reports and architecture.

Horst said a business “think tank” of economic industrial board members would be formed, including many of the former board members from the Maricopa Economic Development Alliance, which the city recently disbanded.

The land is to be purchased from Eldorado Holdings, with Mike Ingram as co-founder and chairman, who Horst said is discounting the land price because of his “love of the community.”