Resolution No. 85-26 Festival Ranch Safeway DA.pdf

WHEN RECORDED RETURN TO:
City of Buckeye
ATTN: Summer Stewart, Interim City Clerk
530 E. Monroe Avenue
Buckeye, Arizona 85326
RESOLUTION NO. 85-26
A RESOLUTION OF THE MAYOR AND COUNCIL OF THE CITY OF BUCKEYE,
ARIZONA, APPROVING THE ECONOMIC DEVELOPMENT RETAIL SALES
TAX INCENTIVE AGREEMENT WITH FESTIVAL MARKETPLACE, LLC, AN
ARIZONA LIMITED LIABILITY COMPANY, RELATING TO DEVELOPMENT OF
LAND IN THE CITY OF BUCKEYE; AND AUTHORIZING THE CITY MANAGER
TO EXECUTE AND DELIVER SAID AGREEMENT ON BEHALF OF THE CITY.
WHEREAS, Festival Marketplace, LLC (“Owner”) is developing approximately 15.18
acres generally located at Canyon Springs Blvd. and Sun Valley Parkway in the City of
Buckeye, as legally described on Exhibit A, attached hereto (the “Land”) as a commercial
development anchored by a major grocery retailer; and
WHEREAS, the City believes the planned development of the Land will serve an area
need for the type of retail services and will generate substantial transaction privilege tax
revenues for the City, therefore the City desires to enter into an Economic Development Retail
Sales Tax Incentive Agreement with Owner to, in part, provide for a retail sales tax incentive to
reimburse Owner for its eligible approved costs related to the construction of certain public
infrastructure for the Land; and
WHEREAS, Ariz. Rev. Stat. § 9-500.11 (version 2) authorizes the City to appropriate and
spend public monies for and in connection with economic development activities and to enter
into retail development tax incentive agreements after finding: (i) that the tax incentive in the
agreement is anticipated to raise more revenue than the amount of the incentive within the
duration of the agreement and, (ii) in the absence of a tax incentive, the development would not
occur in the same time, place, or manner in the absence of the tax incentive; and
WHEREAS, on September 15, 2026, by and through Resolution No. 83-26, the Council
adopted the Notice of Intent to enter into an Economic Development Retail Sales Tax Incentive
Agreement with Festival Marketplace, an Arizona limited liability company, and adopted the
Findings of Fact set forth in the Notice of Intent; and
WHEREAS, Arizona law requires that the City adopt a notice of intent to enter into a retail
development agreement at least 14 days before Council’s approval of such agreement; and
WHEREAS, the Mayor and Council desire to now approve the Agreement.
BE IT RESOLVED by the Mayor and Council of the City of Buckeye, Arizona, as follows:
Section 1. The Economic Development Tax Incentive Agreement between the City of
Buckeye Arizona, an Arizona municipal corporation and Festival Marketplace, LLC, an Arizona
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limited liability company, is hereby approved in substantially the form and substance as on file
with the City Clerk’s Office.
Section 2. 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
3rd day of November, 2026.
____________________________________
Eric W. Orsborn, Mayor
ATTEST:
______________________________
Summer Stewart, Interim City Clerk
APPROVED AS TO FORM:
______________________________
Tosca Henry, City Attorney
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