Resolution 5884

RESOLUTION NO. 5884 
 
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHANDLER, 
ARIZONA, 
ADOPTING 
A 
FIRST 
AMENDMENT 
TO 
THE 
DEVELOPMENT AGREEMENT BETWEEN ONE CHANDLER OWNER, 
LLC, AND THE CITY OF CHANDLER, APPROVING AN EXTENSION 
TO THE AGREEMENT TERM AND AN EXTENSION FOR THE 
DEADLINE TO COMMENCE CONSTRUCTION AT THE PROPERTY 
GENERALLY 
LOCATED AT THE NORTHEAST CORNER OF 
BUFFALO STREET AND ARIZONA AVENUE. 
 
WHEREAS, on October 27, 2022, the Chandler City Council approved a development agreement 
(“Development Agreement”) with One Chandler Owner, LLC, (“Developer”) which sets forth 
obligations of the parties with regard to the development of City-owned real property located on 
the northwest corner of Buffalo Street and Washington Street and (the “Property”), as permitted by 
Ariz. Rev. Stat. § 9-500.05; and 
 
WHEREAS, in exchange for the Developer’s promise to build certain minimum improvements on 
the Property, the Development Agreement allowed the Developer to purchase City-owned property 
for a price established within the Development Agreement; and 
 
WHEREAS, because of the economic disruption caused by rapidly changing market conditions, 
the Developer has requested to amend the Development Agreement to extend the deadline to 
commence construction until March 31, 2026 and to also extend the overall term of the 
agreement until March 31, 2030; and 
 
WHEREAS, the City Council finds that it is in the best interest of the City of Chandler to execute 
the proposed amendment to the Development Agreement.  
 
NOW, THEREFORE, BE IT RESOVED that the City Council of the City of Chandler, Arizona, 
as follows: 
 
Section 1. 
Approves the amendment that is attached to this Resolution as Exhibit A.    
 
Section 2. 
Authorizes the Mayor to execute such amendment in a form substantially similar to 
that form attached to this Resolution as Exhibit A.   
 
 
PASSED AND ADOPTED by the City Council of the City of Chandler, Arizona, this ____ day of 
March, 2025. 
 
ATTEST: 
 
________________________________               ______________________________________  
CITY CLERK  
 
                                 MAYOR

Resolution 5884 
Page 2 
 
CERTIFICATION 
 
I HEREBY CERTIFY that the above and foregoing Resolution No. 5884 was duly passed and 
adopted by the City Council of the City of Chandler, Arizona, at a regular meeting held on the 
_____ day of March, 2025, and that a quorum was present thereat. 
 
 
________________________________
 
CITY CLERK 
 
APPROVED AS TO FORM: 
 
 
______________________________ 
CITY ATTORNEY