By Joshua Bowling | Arizona Republic
Peoria leaders struck a deal that lays out as much as $13 million in incentives for a developer months after the Arizona Supreme Court ruled the Phoenix suburb violated the state Constitution by giving out millions for another development.
The latest project, dubbed Stadium Point, aims to transform 17 acres of city-owned land from a parking lot into a bustling “live, work, play” corridor with office space, housing and retail shops in the P83 dining and entertainment district. The City Council in April unanimously approved a development agreement which says Seattle-based developer American Life will be “entitled” to a specific tax incentive, which has come under scrutiny in metro Phoenix, if it meets several benchmarks.
The state Supreme Court in February ruled that the city violated the state Constitution by giving a combined $2.6 million to Huntington University and its landlord in exchange for broad, indirect benefits to Peoria residents.