By Corina Vanek | Phoenix Business Journal
A Maricopa County Superior Court Judge ruled the city of Phoenix violated the state’s gift clause when granting a tax incentive to a developer planning a 19-story apartment complex in downtown Phoenix.
The development, called the Derby Roosevelt Row, was proposed by Amstar in 2015, and would cost about $36 million to build, according to court documents. Amstar requested a government property lease excise tax from the city of Phoenix, which would give the city title to the project after construction for a 25-year period, and requested the city abate the GPLET for the first eight years. With the city holding the title, the property is not subject to property taxes.
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