Photo Courtesy of Concord Wilshire
By Corina Vanek | Arizona Republic
The redeveloped Metrocenter Mall will add a rooftop park and plaza to a parking structure, expanding the public park space at the former shopping center.
The Phoenix City Council approved some amendments to the development agreement with Metrocenter’s ownership group Wednesday, which will allow the developers to use bond financing from the Phoenix IDA and repay the cost through a portion of sales tax and hotel tax generated on the property.
The Phoenix IDA is a nonprofit focused on community and economic development that provides financial strategies for various initiatives, including bond financing.
