TITLE
The Mayor and City Council shall discuss and take action to approve the Purchase and Sale Agreement with Outside the Box Marketing, Inc., an Arizona corporation, related to the sale of approximately 7.2 acres of the real property generally located South of Martin Luther King Jr. Blvd and East of N. John Wayne Pkwy, Maricopa, Pinal County, Arizona, Assessor Parcel Nos. 510-12-0600 and 510-12-0610 for $2,240,000.00 and authorizing the City Manager to execute any future amendments to extend the Closing as he deems necessary and any closing documents related thereto. Discussion and Action.
AGENDA ITEM DESCRIPTION
Sale of approximately 7.2 acres of the real property generally located South of Martin Luther King Jr. Blvd and East of N. John Wayne Pkwy, Maricopa, Pinal County, Arizona, Assessor Parcel Nos. 510-12-0600 and 510-12-0610 for $2,240,000.00. This City-owned property (property included as part of Proposition 428) was appraised on May 21, 2025, and offered through the invitation for bid (IFB 25OEO06122025) process and through public notice as required by A.R.S. §41-2533 and §39-204. Further, this excess property was sold as part of an effort by the City to provide recreational, family entertainment, retail, job creation, commercial space that compliments Copper Sky and adjacent developments.
PRESENTER
This item will be presented by Josh Bowman, Chief Strategy Officer.
STAFF RECOMMENDATION
Staff recommends the approval of the Purchase and Sale Agreement and Escrow Instructions with Outside the Box Marketing, Inc