Establishment of a public street for a portion of Cotton Lane located north of W. Elwood Street required for the development of Isola at Goodyear Ranch.

There will be no fiscal impact to the City in the fiscal year 2022 or future years related to the establishment of the public street.

The city owns a property consisting of approximately 9.83 acres, located at the southeast corner of Lower Buckeye Road and Cotton Lane, which the City purchased in December 2007 from BT Goodyear, LLC, an Arizona limited liability company per the terms of the Development Agreement for the El Cidro development (“Property”)
 
Isola Goodyear, LLC, an Arizona limited liability company (“Isola”) is in the process of developing the Isola at Goodyear Ranch, a single family rental development at the northeast corner of S. Cotton Lane and W. Elwood Street (the “Isola Property’).   A Final Plat for El Cidro Parcel 5 is being presented tonight as a separate Council item.  Isola is responsible for constructing half-street improvements to Cotton Lane located along the western boundary of the Isola Property.  Approximately 29,534 square feet (.68 Acre) of the Cotton Lane alignment Isola is required to construct lies within the City Property and to allow for the construction of Cotton Lane along the Isola Property needs to be declared a public street.

The declaration of the approximate 29,534 feet as a public street, as described in Resolution 2021-2196, will allow the owner/developer of Isola to construct half-street improvements to the section of Cotton Lane along the western boundary of the Isola Property, which is required for the development of Isola.