File #: RES 25-13    Version: 1 Name: 2nd Amendment to DA Southbridge Marketplace
Type: Resolution Status: Passed
File created: 5/8/2025 In control: City Council Regular Meeting
On agenda: 5/20/2025 Final action: 5/20/2025
Title: A Resolution of the Mayor and City Council of the City of Maricopa, Arizona, approving and adopting the Second Amendment to the Development Incentive Agreement between the City of Maricopa, TTRG AZ Maricopa Honeycutt Development, LLC, A Delaware Limited Liability Company, TTRG AZ Maricopa Honeycutt 5, LLC, A Delaware Limited Liability Company, TTRG AZ Maricopa Honeycutt 6, LLC, A Delaware Limited Liability Company, TTRG AZ Maricopa Honeycutt 7, LLC, A Delaware Limited Liability Company, and Thompson Thrift Development, Inc., an Indiana Corporation, in compliance with A.R.S. §9-500.05. Discussion and Action.
Attachments: 1. Resolution, 2. Development Agreement
Related files: CON 24-29, RES 24-20, RES 23-77

TITLE

A Resolution of the Mayor and City Council of the City of Maricopa, Arizona, approving and adopting the Second Amendment to the Development Incentive Agreement between the City of Maricopa, TTRG AZ Maricopa Honeycutt Development, LLC, A Delaware Limited Liability Company, TTRG AZ Maricopa Honeycutt 5, LLC, A Delaware Limited Liability Company, TTRG AZ Maricopa Honeycutt 6, LLC, A Delaware Limited Liability Company, TTRG AZ Maricopa Honeycutt 7, LLC, A Delaware Limited Liability Company, and Thompson Thrift Development, Inc., an Indiana Corporation, in compliance with A.R.S. §9-500.05. Discussion and Action.

 

AGENDA ITEM DESCRIPTION

The City of Maricopa and Thompson Thrift Development, Inc. entered into a Development Incentive Agreement for the Southbridge Marketplace Project, which has successfully brought Lowe’s to the site, with additional retail development planned for the remaining property. The Second Amendment to the Development Incentive Agreement will address the parties desire to amend the Development Incentive Agreement for the City to extend the Subsequent Permit deadline, designate Edwards Avenue as a secondary emergency access for the property, and require Thompson Thrift Development, Inc to pave a portion of Edwards Avenue Road by November 1, 2025.

 

PRESENTER

This item will be presented by Josh Bowman, Chief Strategy Officer.

 

STAFF RECOMMENDATION

Staff recommends the approval and adoption for the second amendment to RES 23-77.