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District officials say RTG has not supplied key project data despite deposit
Summary
Officials reported receiving a $50,000 CFD formation deposit from RTG in 2021 but said the developer has not provided product-mix, price, or square-footage data needed to model taxes; last substantive contact was reported in September 2022.
During committee questioning, district staff and the municipal adviser described repeated, incomplete exchanges with RTG Investment. "We requested all the necessary development information from RTG after receiving the deposit... We've yet to receive all of the information that we needed," Rachel Chenkway said, listing product mix, square footage and home price information as required to calculate a special-tax rate for a potential CFD.
Committee members pressed whether RTG is local. Chenkway said the firm appears to be national and "I think, in Glendale at 1 point," and that some news articles associate it with outside-country investment groups. Staff said they have reached out to county contacts and will update the superintendent and board when they can reestablish contact with RTG.
