CityNorth Subsidy Case Impacting How Cities Deal With Private Developers

A story in the April 12 Az Republic notes that the CityNorth subsidy case awaiting an Az Supreme Court ruling could trigger major changes in how cities work with private developers and in the longtime practice of awarding sales-tax subsidies to them.

Noted within the article is the fact that communities that used tax breaks to attract retail developments have temporarily halted the process pending the outcome of the case.

"Oro Valley already has stopped making subsidy payments directly to developers and is instead putting the money into an escrow account. The town has deals with Vestar Development Co. of Phoenix, Bourn Partners of Tucson and the Hilton El Conquistador Golf & Tennis Resort."

Read the article here.
http://www.azcentral.com/arizonarepublic/news/articles/2009/04/12/20090412biz-citynorth0412.html