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Peoria and Arizona State Land Department sign IGA to bring 6,700 acres north of Lake Pleasant to market; city to front infrastructure
Summary
Council approved an intergovernmental agreement with the Arizona State Land Department to plan and advance public infrastructure for roughly 6,700 acres in North Peoria (the “Peoria Innovation Corps”), using an initial $140 million CIP seed to leverage infrastructure development and recover costs through future land transactions.
The Peoria City Council on Dec. 17 approved an intergovernmental agreement with the Arizona State Land Department (ASLD) to plan and advance infrastructure for the 6,700‑acre Peoria Innovation Corps (PIC) north of Lake Pleasant Parkway, a multi‑decade effort city officials say will create jobs, retail and development opportunities while returning substantial value to the state land trust.
Deputy City Manager Mike Faust and City Manager Henry Darwin described the IGA as a two‑part approach: the city will lead land planning and zoning work on ASLD‑owned parcels, and the city will design and build arterial roads and associated utility systems ahead of auctions to shorten development timelines and increase land…
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