By Eric Jay Toll | Phoenix Business Journal
Sometimes a long-standing policy becomes a cause of heartburn when a city decides to turn it into a regulation. This is the case with a proposed ordinance by the city of Tempe and an alarm rung by the Valley Partnership.
Tempe wants to set in stone a requirement for developers to get a building permit within two years of obtaining zoning approval — a long-standing city policy. The ordinance, which goes to the City Council on Thursday, would move the policy into the zoning code. If enacted, the city believes it will help cut down speculative development tying up property for years when the market makes the formerly approved use unmarketable.
Cameron Carter, Director of Transactional Department of Rose Law Group comments:
“Two years for every project seems awfully fast, especially in the market we’ve seen over the last 7 years. This type of regulation could push more property owners to seek to enter into development agreements with the City as a way to establish their legal rights to zoning for a longer time period.”
