By Terrance Thornton | Paradise Valley Independent
The Town of Paradise Valley has adopted formal rules of engagement for cost recovery tactics to run in tandem with development agreements as new construction projects are negotiated and ultimately built.
Primarily, the new ordinance defines the parameters to who is paying what and what properties will be impacted by public infrastructure improvements as new development comes online — sometimes over the course of several years, even decades.
Paradise Valley Town Council by a 6 to 0 vote adopted the new ordinance at its final meeting of 2019 at Town Hall, 6401 E. Lincoln Drive. Mayor Jerry Bien-Willner was not present for the Dec. 5 vote.
Both town and private sector officials contend Arizona municipalities are adopting rules to share infrastructure costs and repayment options spanning longer than 10 years.