Board works with Maricopa County treasurer to establish accounts as $6 million await transfer

Board members heard an update on the district’s financial setup and the status of funds awaiting transfer.

Staff reported negotiations are underway with John Allen, Maricopa County Treasurer, so the county can act as the district’s financial manager and host the district’s accounts. The arrangement would mirror how the former stadium district held accounts, and a draft agreement was circulated for feedback; staff said final sign‑off from the treasurer is required before transfers can occur.

Participants were told no transfer has yet been made into the district’s accounts. Staff said that roughly $6 million earmarked for the district is currently being held either by the state Department of Revenue or by the City of Phoenix until a bank account is established and the treasurer signs off. Staff committed to provide monthly statements and to add a treasurer’s report to future agendas once accounts are active.

Board members also discussed including lease‑negotiation matters on future agendas so infrastructure needs (roof, concrete, HVAC) can be embedded in lease terms; they noted an upcoming JLL assessment with figures expected within one to two months to help prioritize maintenance and negotiating positions.

The board did not take a final vote on account authorization during the public session and recessed into an executive committee meeting for further review; staff will continue discussions with the county treasurer and expects to return a recommended agreement to the full board.