Approval of the development agreement with Goodyear Airpark Industrial, LLC generally located at the southwest corner of Bullard Avenue and Lower Buckeye Parkway will establish certain obligations, terms and conditions between the parties related to the rezoning of the property from Industrial I-1 to PAD RES/MXD. 
 

ADOPT RESOLUTION NO. 2022-2221 APPROVING THE DEVELOPMENT AGREEMENT WITH GOODYEAR AIRPARK INDUSTRIAL DEVELOPMENT, LLC; PROVIDING AUTHORIZATION AND DIRECTION FOR EXECUTION AND PROVIDING AN EFFECTIVE DATE. (Roric Massey, City Attorney)
 

The proposed development agreement provides for the waiver of customary rezoning fees per the adopted fee schedule of approximately $10,000.
 

Goodyear Airpark Industrial Development, LLC, a Delaware limited liability company, (the “Developer”) is the owner of approximately 14 acres of land (the "Property") generally located at the southwest corner of Bullard Avenue and Lower Buckeye Parkway.   At the City’s request, the developer has agreed to change the proposed development of this project from an industrial project to a multi-family project to be more consistent with surrounding land uses.
 

The Developer will receive a benefit from this Development Agreement by having certain assurances with respect to rezoning or condemnation of the Property and will have its customary rezoning fees waived.  
 
The City will benefit from the development of a high-quality multi-family project that is consistent with other development in the surrounding area and will have certain contractual protections should a subsequent eminent domain action commence on the property
 
The City acknowledges and agrees that the development of the Property pursuant to this Agreement will result in planning and economic benefits to the City and its residents.