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Cave Creek council votes to pursue purchase of roughly 4,000 acres from Arizona State Land Department
Summary
The Cave Creek Town Council authorized staff to file an application with the Arizona State Land Department for an auction of approximately 4,000 acres of state trust land and directed staff to begin required surveys and studies while pursuing grants and financing. The council also endorsed a revenue-bond funding path to reduce immediate budget impact.
The Cave Creek Town Council on a unanimous 7–0 vote authorized town staff to file an application with the Arizona State Land Department to initiate an auction for roughly 4,000 acres of state trust land and directed the town manager to approve the studies, surveys and plans required by the department.
The action, carried in two votes during the meeting, follows presentations from Arizona State Land Department assistant directors Karen Dada and Ruben O’Hada, who described the department’s sale process, and a town-financing briefing from financial advisers with Stifel. Karen Dada emphasized the department’s legal constraints, saying the department “cannot sell for less than fair market value” and that any sale or lease longer than 10 years requires a public auction and independent appraisal.
Why it matters: The acquisition would expand the town’s…
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