By Gary Nelson | The Republic | azcentral.com
When Mesa voters approved $79.1 million in new bonds for street projects this month, the city said it would set aside $10 million of that for unspecified work tied to economic development.
Now we know where a big chunk of the $10 million will go.
The city council this week approved a financing mechanism for public infrastructure in southeast Mesa’s Eastmark development, and the bonds are a key component. About $6.5 million of the bonds will be funneled into that one development.
Eastmark, a mixed-use community on 5 square miles of the former General Motors Desert Proving Ground, is being developed by Scottsdale-based DMB Associates. It will have everything from heavy industry to upscale executive housing, and over time may include dense high-rise urban nodes.
