Basically it's a re-hash of what voters and taxpayers REJECTED in the last election saying no to borrowing more than $120,000,000 in taxpayer-financed Municipal Obligation Bonds. Mesa is already a tax-burdened city.
That point is very clear with the provision that hand-in-hand with the tax-payer debt obligations to appear on the November ballot, there's commitments by the City -???- for five more speculative developments.
Tonight's Mesa City Council meeting might be an excellent opportunity for certain councilmembers - including the mayor - to recuse themselves due to perceived conflicts-of-interests involving "family-and-friends" or undisclosed business associations.
The Intergovernmental Agreement is more than 20 pages long - Get deep into it, please
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| File #: | 18-0235 |
| Type: | Resolution | Status: | Agenda Ready |
| In control: | City Council |
| On agenda: | 2/26/2018 |
| Title: | Approving and authorizing the City Manager to enter into an Intergovernmental Agreement with the Arizona Board of Regents for, and on behalf of, Arizona State University for the development, operation, and maintenance of educational facilities in downtown Mesa. (Citywide) |
| Attachments: | 1. Presentation, 2. Resolution, 3. IGA |
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INTERGOVERNMENTAL AGREEMENT
BETWEEN THE CITY OF MESA, ARIZONA,
AND
THE ARIZONA BOARD OF REGENTS
This Intergovernmental Agreement (“Agreement”) is made to be effective as of _____________, 2018 (the “Effective Date”) between the City of Mesa, Arizona, an Arizona municipal corporation (“City”) and the Arizona Board of Regents, a body corporate, for and on behalf of Arizona State University (“ASU”). Each of City and ASU may be referred to in this Agreement as a “Party,” or collectively as the “Parties.”
RECITALS
As background to this Agreement, the Parties recite, state and acknowledge the following, each of which is a material term and provision of this Agreement:
A. As part of its downtown redevelopment and revitalization, and the creation of its innovation district and innovation studios (“Mesa Innovation Studios”), City has been encouraging and promoting the presence of post-secondary education uses and facilities.
B. ASU is a comprehensive public research university and, in connection with its mission as a leader in academic excellence and accessibility, desires to locate, develop, operate and maintain certain post-secondary education facilities in downtown Mesa as described in this Agreement (“ASU Facilities”).
C. City has located areas within its City Center area (“City Center”) that are appropriate for, and will support, the ASU Facilities.
D. Both City and ASU recognize and acknowledge the benefit to each arising from the location, development, operation and maintenance of the ASU Facilities at the City Center.
E. The Parties previously entered into an Intergovernmental Agreement dated June 9, 2016 related to the development of the City Center (Maricopa County Recorder Document No. 2016-0439048) (“2016 IGA”) which the Parties agree is terminated upon execution of this Agreement.
F. The Parties are authorized to enter into this Agreement by the provisions of ARS § 11951, et seq.
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AGREEMENTS
1. Identified Property: City and ASU have identified potential building sites for the ASU Facilities within the City Center, depicted on the attached Exhibit A.
2. Property Ownership: City shall own all land and improvements for the ASU Facilities developed and constructed and which are leased to ASU as further provided in this Agreement except for the ASU Developed Facilities (as defined herein) which shall be owned by ASU.
3. Financing: The financing for the ASU Facilities, Public Infrastructure (as defined herein) and other City Center improvements (collectively, but specifically excluding the financing of the ASU Developed Facilities, “Financing”), including the amount of any Financing, and any debt service shall be determined by City in its sole discretion.
City will seek to obtain Financing for the ASU Facilities, Public Infrastructure, and other City Center improvements through municipal bond financing; however, if City is unable to obtain such Financing, either Party may terminate this Agreement in accordance with Section 14. For any financing done on a tax-exempt basis, the bond financing documents and Lease will contain appropriate covenants and agreements from all necessary parties that to the extent practicable pursuant to state law, they will make such certifications and elections that may be required or permitted by law and will comply with all federal laws in effect upon issuance and thereafter adopted which apply to the tax-exempt bonds and which exempt
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