By Jeff Chew | InMaricopa
The City of Maricopa’s plans for a second hospital and medical complex have fallen through a second time.
Ricky Horst, the City of Maricopa’s chief strategy officer who last week retired as city manager, confirmed today that on Monday he represented the city in terminating an agreement with hospital developer Phoenix-based S3 Biotech.
Horst’s letter to representatives of S3 Biotech basically states the company was not meeting the terms of its purchase and sale agreement with the city.
“The funding commitment letter does not provide the level of assurance we seek, especially considering the many unmet deliverables over the past few years,” Horst said in the letter to S3 Biotech’s Britton Lee, Copper Sky Hotel and Residential Group representative Michael Patterson and Ryan Sullivan with The BR Companies.
