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Real Estate & Property Law

: Law of the Land

Arizona Appeals Court Invalidates Economic Incentive Agreement as Unconstitutional

By Patty Salkin

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On December 23, 2008, the Arizona Court of Appeals, Division I, largely invalidated a March 2007 economic incentive agreement between the City of Phoenix and NPP CityNorth, L.L.C. that authorized the sharing of 50% of the sales tax proceeds generated by the CityNorth development.   The court concluded that almost all of the $97.4 million incentive offered [...]

Full post as published by Law of the Land on January 10, 2009 (boomark / email).

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