2. RES Development Fee Deferral: Cielo Verde Unit 4 Phase III

RESOLUTION NO. R2026-024

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF YUMA, ARIZONA, AUTHORIZING AND APPROVING A DEVELOPMENT AGREEMENT PERMITTING THE DEFERRAL OF CITY OF YUMA DEVELOPMENT FEES AND WATER AND SANITARY SEWER CAPACITY CHARGES FOR CIELO VERDE UNIT 4 PHASE III SUBDIVISION

	WHEREAS, the City of Yuma desires to obtain those public benefits accruing from the development of property, which benefits include, but are not limited to, the creation and retention of jobs, stimulation of further economic development within the City, increased property tax values based on improvements to be constructed on the property and by retention and generation of additional sales tax revenues through increased business activities; and,

	WHEREAS, A.R.S. § 9-463.05(B)(10) permits the deferral of payment of development fees for residential units when supported by appropriate security and included as part of a development agreement; and,	

	WHEREAS, deferral of payment of development fees and water and sanitary sewer capacity charges until prior to issuance of a certificate of occupancy, will promote economic activity within the City of Yuma and shall constitute sufficient consideration for the deferral.

	NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Yuma as follows:

	SECTION 1: The deferral of City of Yuma Development Fees, water and sanitary sewer capacity charges is approved in accordance with the terms of the Development Agreement attached as Exhibit A, and by this reference, made part of this Resolution.

	SECTION 2: Upon payment to the City of Yuma of the described $500 administrative fee for Cielo Verde Unit 4, Phase III Subdivision, the City Administrator is authorized and directed to execute the Development Agreement on behalf of the City of Yuma.
			
	Adopted this ___________ day of __________________, 2026.
											APPROVED:
									________________________
	Douglas J. Nicholls
	Mayor		
	ATTESTED:

	________________________
	Janet L. Pierson
	City Clerk 

	APPROVED AS TO FORM:
	________________________
	Richard W. Files
	City Attorney