Summary Sheet- RFCA FINAL TEMPE BANK-HARDWARE.DOCX

CITY OF TEMPE       
                      Council Meeting Date: 01/08/2026
REQUEST FOR COUNCIL ACTION                           Agenda Item: 8A4
ACTION: Adopt a resolution to authorize the City Manager to execute a purchase and sale 
agreement to acquire ownership of improved properties at the addresses of 520 and 526 South 
Mill Avenue in Tempe, Arizona. (Resolution No. R2026.08)
FISCAL IMPACT: The property acquisition amount will be as directed by the City Council, at a 
price not to exceed the fair market value of each property or the amount directed by the City 
Council. Sources of funding for the property purchases include the following: Endangered 
Historic Property Acquisition Fund and Capital Improvement Fund FY 25/26.
RECOMMENDATION:  Adopt Resolution No. R2026.08.
 
 
BACKGROUND INFORMATION: City of Tempe Staff have identified an opportunity to 
negotiate the purchase of two historic properties in the downtown core, the Tempe Bank and 
the Tempe Hardware buildings.  The property owners have expressed interest in selling the 
properties to the City and hope to move quickly. Details of each property are described below: 
Site 1: Tempe National Bank Building – 526 S. Mill Avenue (APN 132-30-973)

Constructed in 1912, approximately 9,614 sf building with a small second story and 
a basement on a 0.20-acre lot 

Listed on the National Register of Historic Places in 1984

Recommended for approval for the Tempe Register of Historic Places

The current and intended use for the building is a bar/restaurant/office
Site 2: Tempe Hardware Building – 520 S. Mill Avenue (APNs 132-30-006 & 132-30-007)

Constructed in 1898 & original appearance restored in 1982, approximately 10,470 
sf three-story brick building on a 0.16-acre lot

Listed on the National Register of Historic Places in 1980

Listed on the Tempe Register of Historic Places updated

Ground-level retail with two floors of retail/ office above

The first floor is approximately 4,000 sf, second floor is approximately 3,100 sf, and 
third floor is approximately 1,600 sf 

The current and intended use for the building is retail/office

SUBJECT PROPERTIES:  520 & 526 S Mill Avenue in Tempe, Arizona
ATTACHMENTS:   Resolution
STAFF CONTACT(S):  Josh Rutherford, Special Projects & Economic Development Administrator, 
(480) 350-8813, April Kroner, Deputy Economic Development Director, (480) 815-5938
Department Director:  Jeff Tamulevich, Community Development Director & Interim Economic Development 
Director 
Legal review by:  Eric Anderson, City Attorney 
Prepared by:  Josh Rutherford, Special Projects & Economic Development Administrator