NewsBusiness

Actions

Glendale will pay VAI Resort developer up to $18 million for parking spaces

The city council approved the agreement in a 5-2 vote
Garage
Posted

GLENDALE, AZ — In a contentious vote, Glendale City Council has approved spending up to $17.8 million to secure new parking spaces from the developers of the $1 billion VAI Resort.

The city approved a parking space use agreement in a 5-2 vote with VAI Resorts LLC at its Dec. 10 meeting, just before it swore in two new councilmembers, who are replacing Joyce Clark and Ian Hugh. The resort is being developed by the owners of civil construction firm Fisher Sand & Gravel.

Through the agreement, the city has acquired the rights to use 800 designated parking spaces on the ground floor of the five-level parking garage that's being constructed to support the VAI Resort, which is scheduled to open late next year.

Read more of this story from the Business Journal.