Peoria Council approves land exchange, development amendments to move Amcor to Core 2 and fund North Peoria infrastructure

Peoria City Council on Aug. 28 approved a package of agreements and budget actions to relocate Amcor's proposed facility from Vistancia to an 834-acre Core 2 parcel in North Peoria, authorize related amendments to the Vistancia development agreement and advance about $33 million in city infrastructure spending that staff say will be recoverable under an intergovernmental agreement with the Arizona State Land Department.

City Manager Henry Darwin and Deputy City Manager Mike Faust presented the plan as a coordinated set of steps that included (1) a land-exchange agreement swapping 56 acres in Vistancia for 104 acres in Core 2 won at a state-land auction, (2) an amendment to Amcor's development agreement to reflect the new site, (3) a license agreement allowing Amcor limited construction access while the patent/escrow work finishes, (4) changes to the Vistancia development agreement to preserve a targeted end-user requirement and outline repurchase rights, and (5) a budget transfer for Core 2 public works. Council approved the motions in separate roll-call votes; each passed 7–0.

Why it matters: Council and staff said the acquisition and infrastructure strategy are intended to create a job- and tax‑generating employment core in North Peoria, accelerate commercial development and avoid imposing higher recurring taxes on residents. Faust characterized the package as “one of the coolest things” the city has pursued and said staff negotiated protections and payment mechanisms to limit exposure.

Key facts and approvals - State land auction and purchase: The city successfully acquired the Core 2 certificate of purchase for the 834-acre parcel at the auction for a minimum bid/appraised value of $46,700,000; staff reported there were no other bidders. (Deputy City Manager Kevin Burke.) - Land exchange: Agenda item 2R approved a land-exchange agreement that swaps a 56-acre Vistancia parcel (appraised unimproved at roughly $8.63 per square foot) for about 104 acres in Core 2 (appraised at roughly $1.29 per square foot). The exchange passed 7–0. (Motion: “Approve agenda item 2R as stated.”) - Development agreement amendment for Amcor: Agenda item 3R approved the third amendment to Amcor’s development agreement to codify the new location, adjusted water and wastewater terms, fixed reclaimed-water pricing and penalties if Amcor does not build. The amendment…