Council looks at land purchase for Phase I of bond monies

Maricopa City Council members will make their first decision on spending some of the newly acquired bond money this Tuesday night.

Council will have the chance to approve the purchase of a 20-acre parcel of land for $5.1 million from Desert Cedars Equities, LLC.

If the council approves the purchase, the company will then donate a 16.22-acre adjacent parcel of land to the city.

These 36 acres of land would be home to the first phase of the city’s parks, recreation and bond package.

If approved, the money for this purchase would come from the general fund account and then be replaced when council decided to sell bonds.

The first phase of the PRL bond is a regional sports complex. Current plans for this complex include four lighted baseball/softball and soccer/football fields, concessions, extra parking and play equipment. This facility will be designed to host special events.

“If council approves the purchase of this land, we are getting a very good deal,” said City Manager Kevin Evans.

That good deal translates to $3.25 a square-foot.

The estimated cost of the total project is $20 million; however, if the city is able to get the project done under budget, the funds saved will be invested in an account and then returned to pay off the bond obligation.

“It reduces the obligation for the taxpayer,” said Roger Kolman, the city’s finance director.

The parcel of land the city is considering purchasing lies on the south side of the railroad tracks, north of John Wayne Parkway.

“For those familiar with Tim White’s towing company, it is the land directly behind there,” Evans said.

If you go:

What: Maricopa City Council meeting
Where: Global Water Center, 22590 N. Powers Parkway
When: Tuesday, Nov. 18, 7 p.m.

Staff photo