MARICOPA — The city of Maricopa gave approval for a purchase and sale agreement with Maricopa Auberge LLC to build an 89-room hotel near Copper Sky Recreation Complex.
The hotel is part of a broader development project for the area that will include apartment complexes and an assisted living facility.
The City Council approved the agreement during Tuesday’s regular meeting with no major discussion. However, Mayor Christian Price asked the city’s economic development director, Denyse Airheart, about assurances the development will happen and what incentive is in place for the company to develop the parcel of land.
Airheart said the developer is very interested in Maricopa and added that from her understanding if it could, the company would put a hold on other projects in order to advance the hotel project in the city.
“At this point we have no signs that this development will not be able to move forward,” Airheart said. “There are no issues with their financing.”
City Manager Rick Horst echoed Airheart’s assessment of the developer’s desire to prioritize the project.
“There are two reasons why I feel this will be successful. The first is the owner used to be a resident of Maricopa, left the area and never thought he would come back and now he’s back,” Horst said. “The other reason is he knows he can make money here.”
City Attorney Denis Fitzgibbons added there is a provision in the agreement that the developer has a certain period of time to develop the land. If it doesn’t happen, the company will have to pay back any potential fee wavers to the city that are made to encourage the project. In addition to this, Fitzgibbons said there’s also a lien against the property.
The La Quinta hotel project is expected to be completed by 2020 at a cost of $10 million. When completed, it will provide 20 jobs along with $390,000 in annual payroll, $73,000 in annual property taxes and $63,000 in annual bed tax and sales tax revenue.