Resolution No. 15-26 Hanger DA Vermillion.pdf
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1 RESOLUTION NO. 15-26 A RESOLUTION OF THE MAYOR AND COUNCIL OF THE CITY OF BUCKEYE, ARIZONA, APPROVING THE DEVELOPMENT AGREEMENT BETWEEN THE CITY OF BUCKEYE, AN ARIZONA MUNICIPAL CORPORATION AND VERMILLION DEVELOPMENT, LLC, AN ARIZONA LIMITED LIABILITY COMPANY; AND AUTHORIZING THE MAYOR TO EXECUTE AND DELIVER THE AGREEMENT. WHEREAS, the City of Buckeye, an Arizona municipal corporation (“City”) and Vermillion Development, LLC, an Arizona limited liability company (“Vermillion”) desire to enter into a Development Agreement (“Agreement”) related to the phasing of construction and requirements for City construction of public infrastructure as specified in the Agreement, as part of the Hangar Development, located on approximately 5 acres of airport land as set forth in the Agreement; and WHEREAS, the City is authorized to enter into development agreements by resolution, pursuant to Arizona Revised Statutes § 9-500.05. BE IT RESOLVED by the Mayor and Council of the City of Buckeye, Arizona, as follows: Section 1. The recitals above are hereby incorporated as if fully set forth herein. Section 2. The Development Agreement dated January 20, 2026 between the City and Vermillion is hereby approved in substantially the form and substance on file with the City Clerk and incorporated by reference. Section 3. The Mayor, City Manager, City Attorney, and City Clerk are hereby authorized and directed to execute any and all documents and any other necessary or desirable instruments, and to take all steps necessary to carry out the purpose and intent of this Resolution. PASSED AND ADOPTED by the Mayor and Council of the City of Buckeye, Arizona, this 20th day of January, 2026. ____________________________________ Eric W. Orsborn, Mayor ATTEST: ______________________________ Lucinda J. Aja, City Clerk APPROVED AS TO FORM: ______________________________ Tosca Henry, Interim City Attorney